Active Alert: MIT Federal Credit Union will never text, email or call you asking for personal or account information. Never click a link or download an attachment from someone you don't know. Fraud is on the rise; learn how to protect yourself. Learn more

Important note: In the aftermath of Hurricane Helene, MIT FCU is here to help. If you have been affected by the storm and need support, please get in touch with Member Services at (781) 423-2022 or email us at info@mitfcu.mit.edu.

Go to main content MIT Federal Credit Union

Join now

MIT FCU image
MIT FCU image

About Us

Who we are, our history, and why we do what we do.

About MIT Federal Credit Union.

Massachusetts Institute of Technology (MIT) Federal Credit Union is a full-service not-for-profit financial institution federally insured by the NCUA. We offer a range of financial products at different levels, such as checking, savings, lending, and online banking services to over 35,000 members. 

With the guiding philosophy of People Helping People, MIT FCU serves MIT employees, students, alumni, faculty, staff, and select Cambridge and Lexington businesses. In 2023, we moved forward with the American Consumer Council to welcome members in the broader community.

branch

Mission

Impact our diverse communities by creating well-being through empowerment and financial opportunities.

 

 

Vision

Become a trusted partner for all our communities and empower each member to grow, thrive, and achieve.

Our history

MIT FCU started 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, loans, 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:

  • 1950's - Our Lincoln Laboratories branch opened
  • 1964 - Our MIT campus branch moved to Building E19, where we stayed until 2007
  • 2007 - Technology Square and Student Center branches opened
  • 2019 - Our corporate headquarters opened in Lexington, with room to grow!

 

Annual Reports

Click to download pdf.

2023 Report   2022 Report  2021 Report

Financial Wellness

woman on laptop

The Credit Union Difference: The History of Credit Unions

Learn about the differences between credit unions and banks.

Read more
piggybank in lawnchair

The Importance of Being Financially Fit

Are you ready to stretch those financial fitness muscles? We hope so, because it’s time to get financially fit!

Read more
woman using calculator

The Importance of Credit Health

Everyone should make a habit of reviewing their credit health regularly. Here's why.

Read more