Where you bank matters.
At MIT Federal Credit Union, we put people over profits. Experience the credit union difference today.
Who can join?
If you are a part of the MIT community, an immediate family member, partner, or roommate of a person who qualifies for membership, or if you work for one of our partner associations, you can become a member. If you don't belong to one of those groups, you can become a member by joining the American Consumer Council (ACC). Don't worry; we can take care of the process for you!
Bank
Designed to meet your checking and savings needs, you'll take advantage of features such as direct deposit, digital banking, and remote check deposit. All deposit accounts at MIT FCU are federally insured by the NCUA up to $250,000.
Borrow
Discover a suite of lending products designed to meet your financial needs. MIT FCU also offers specialized options such as fuel assistance, rental assistance, and accessibility lifestyle loans.
Certificates
Rates as high as
3.75% APY1
Open AccountLearn more
Minimum daily balance required to earn APY is .
High Yield Savings
3.00% APY1
Open AccountLearn more
Minimum daily balance required to earn APY is $500.00.
Begin with a savings account.
A savings account (called a savings 'share' account) with a $5 minimum balance is required to establish and maintain membership. That $5 represents your ownership share in the Credit Union because once you become an MIT FCU member, you also become an owner.
To open you will need:
- Social Security number*
- Driver’s license or government ID
- Current home address
- Credit card or bank account and routing number to fund your account
Note: You’ll need these for any joint owners you’d like to add.
*If you don't have a social security number, you can still apply.
Benefits for the whole family.
Immediate family such as parents, siblings, children, grandparents, spouses, and those living in your household can become members. This means your loved ones can enjoy the same great rates, personalized service, and financial benefits that you do.
Meet Talleeb: Member Experience Manager.
“The concept of People Helping People to me speaks to empathy. Our ability to put ourselves in the members' shoes with any of their needs propels us to put our best foot forward in every exchange we have with them. I'm proud to be a part of a team that leads with a sense of work ethic and care focused on making the experience better for our members.
I enjoy writing, I'll watch the movie Goodfellas every time it's on, my kids are already funnier than me, and everyone should go to The Mad Monkfish restaurant."
Community About MIT FCUThe Credit Union Difference
We are not a bank, and that's an advantage for our members. As a credit union member, here's how you benefit.
At credit unions, members are owners; we answer to them, not investors. Each member has equal ownership.
Thanks to the CO-OP branch network, you can access over 30,000 fee-free ATMs and over 5,600 branch locations nationwide.
Credit unions are not-for-profit cooperatives that give back to their members with great savings rates and lower loan rates.
Throughout the history of U.S. credit unions, taxpayer funds have never been utilized to rescue a credit union.
Credit union deposits are insured up to $250,000 by the National Credit Union Administration (NCUA), a federal government agency.
Bank when and where you want.
With mobile and online banking, two convenient branches on campus, access to over 30,000 ATMs, and 5,000 branches nationwide.
Download our highly rated mobile app!
Celebrating 85 years of service.
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.
- 2025 - We proudly celebrate 85 years of empowering our diverse community to grow, thrive, and achieve!
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