A History of MIT FCU

MIT FCU got its start in 1940 when Frank Conant (Member #1) and eleven other Massachusetts Institute of Technology employees established the MIT Employees Federal Credit Union in the basement of Building 3. They started with the basics to serve the MIT employee community: savings, lending, and thrift opportunities. By 1949, the credit union was an active part of the MIT community. Members were allowed up to $2,000 in savings and $200 in loans.

Since then...

• 1950s - We opened a branch at Lincoln Laboratories.
• 1964 - Our MIT Campus branch moved to Building E19.
• 2007 - We opened our Technology Square and Student center branches.
• 2019 - Our corporate headquarters opened in Lexington, providing room for growth.
• 2023 - We expanded membership eligibility with the American Consumer Council to include members in the broader community.
• 2025 - We celebrate 85 years of service to our diverse community.

Today, we are proud to serve over 35,000 members with the same founding principles we've has since 1940. Check out what some of our members had to say:
 

"The knowledge, care and kindness I was shown in my recent visit to the Credit Union was superior" - Christine B.

"I used to be an MIT employee, and I am proud to be the client of an organization that cares for its workers and customers." - Enrique S.

"Simply amazing and wonderful employees. You are very fortunate to have them." - Catherine G.