Southcoast Health System Federal Credit Union

Rated star_ratedstar_ratedstar_ratedstar_rated_halfstar_normal by Credit Guide
Review based on 12 criteria Rating: 3.5 out of 5

101 Page St, New Bedford, MA 02740

Website

(508) 997-4475

Data Source: NCUA, December 31, 2016


Southcoast Federal Credit Union was founded in 1976. Headquartered in New Bedford, Massachusetts, Southcoast Federal Credit Union is a federally chartered and federally insured credit union, operating within the regulation of the National Credit Union Association (NCUA) and being insured through the National Credit Union Share Insurance Fund (NCUSIF). Southcoast Federal Credit Union is also a member of the Federal Home Loan Bank (FHLB), which allows a credit union to access low cost secured borrowings or advances and prlides its members with financial products and services that assist and enhance the financing of housing and community lending.

As of December 31, 2016, Southcoast Federal Credit Union services 4,239 members through its 4 offices and branches and 15 full-time and 5 part-time employees. It has $48,374,539 of total assets and $6,199,928 of net worth. Based on its asset size and net worth ratio, Southcoast Federal Credit Union is classified as a Well Capitalized medium small credit union.

Southcoast Federal Credit Union offers a number of deposit and loan products to its members. To find out how competitive the offers are, please go to the Interest Rates page. Southcoast Federal Credit Union also provides an array of services to its members and local communities. To find out more, please go to the Services page.

The following two tables list the deplitory and loan interest rates of Southcoast Federal Credit Union’s popular offerings. You can find out how competitive the offerings are by comparing them to the median interest rates offered by credit unions in Massachusetts and in the nation.

Major Deplitory Accounts and Interest Rates (%)

Interest Rate
Median of Massachusetts
Median of USA
Checking
0.0500
0.0000
0.0000
Savings
0.1000
0.1000
0.1200
Money Market
0.3000
0.2500
0.2500
Certificate Deplit
0.8000
0.6800
0.5800
IRA
0.8000
0.6000
0.5000

Major Loan Accounts and Interest Rates (%)

Interest Rate
Median Rates of Massachusetts
National Median Rates
Credit Cards
11.9900
10.4900
9.9900
Unsecured Line of Credits
9.6300
10.9900
10.9500
Short-term Small Amount
n/a
20.0000
25.0000
Student Loans
n/a
6.2500
6.0200
New Car Loans
2.2500
2.7500
3.3300
Used Car Loans
2.2500
3.8250
4.5000
1st Mortgage Real Estates
4.7500
4.0000
4.2500
Other Real Estates
3.5000
3.9900
4.7000

Southcoast Federal Credit Union prlides a number of ways to access its services. In addition to its office and branches, a member can perform banking through Internet, phones, ATMs, and mobile devices. The table below lists the electronic banking services prlided by Southcoast Federal Credit Union.

Electronic Banking Service Offerings

Membership Application
Yes
Yes
Share Account Transfers
Yes
New Loan Application
Yes
Share Draft Orders
Yes
No
New Share Account
No
Bill Payment
Yes
Yes
e-Statements
Yes
Loan Payments
Yes
No
Account Balance Inquiry
Yes
Yes
No
View Account History
Yes
Yes

As a community financial institution, Southcoast Federal Credit Union actively involves in local communities by prliding services such as financial education, financial literacy workshops, and first tim home buyer programs.

Community and other Service Offerings

Financial Counselling
No
Bilingual Services
Yes
Free Bill Pay
Yes
Financial Education
Yes
In-School Branches
No
Free Tax Preparation Service
No
Financial Literacy Workshops
Yes
Student Scholarships
Yes
Insurance/Investment Sales
No
First Time Homebuyer Program
No
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Phone:508-910-3988

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Phone:508-679-7046

St Luke’s Hospital
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Phone:508-997-4475

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  1. Credit Guide Staff
    Credit Guide Staff

    Last Updated on May 30, 2017

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