Winthrop Federal Credit Union

★★★☆☆
  • 15 Woodside Ave

    Winthrop, MA 02152

    Map & Directions
  • 617-846-1226

About Winthrop Federal Credit Union

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3.25 4
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I am a business owner and have accounts with big banks(Citizens, Bank America, Sovereign) and this small town credit union. Each has their strengths. The credit union is very competitive for business checking and has saved us thousands over the years vs. the big banks. While I don't have a mortgage or auto loan with either I still pay attention to the rates and the credit union always seems more competitive. They recently posted a 10 year mortgage at 2.99% with 1 point which I felt was a great rate and was enticing. I checked online and couldn't find that rate anywhere else. I don't use an ATM so I can't comment on that.

5
★★★★★

I am a business owner and have accounts with big banks(Citizens, Bank America, Sovereign) and this small town credit union. Each has their strengths. The credit union is very competitive for business checking and has saved us thousands over the years vs. the big banks. While I don't have a mortgage or auto loan with either I still pay attention to the rates and the credit union always seems more competitive. They recently posted a 10 year mortgage at 2.99% with 1 point which I felt was a great rate and was enticing. I checked online and couldn't find that rate anywhere else. I don't use an ATM so I can't comment on that.

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I recently opened up a savings account with them and they never disclosed any extra fees.. The next thing I knew I was getting charged a $5.00 for receiving an ATM card and it would also cost $1.00 per month just to use it!! Who does this??? When I found that out, I closed my account and got hit with another "hidden fee": a $10.00 fee for closing my account within 180 days... What a joke of a "credit union".. I'll go around the corner to East Boston Savings Bank, that's what I recommend..

1
★☆☆☆☆

I recently opened up a savings account with them and they never disclosed any extra fees.. The next thing I knew I was getting charged a $5.00 for receiving an ATM card and it would also cost $1.00 per month just to use it!! Who does this??? When I found that out, I closed my account and got hit with another "hidden fee": a $10.00 fee for closing my account within 180 days... What a joke of a "credit union".. I'll go around the corner to East Boston Savings Bank, that's what I recommend..

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I have kept a credit union account for years even though the interest rates they offer can't begin to compete with that of bigger banks because they are conveniently located and offer good customer service. Their ATMs are on the SUM network so you can access your money for no fee on any ATM on the SUM network (many of these ATMs are in Cambridge and Boston). So if you opened an account with your babysitting money years ago, it might not be a bad idea to just keep it here. For bigger accounts, I would probably switch to a bigger bank.

PROS: Great interest rate on CDs right now
CONS: Online banking leaves a lot to be desired

3
★★★☆☆

I have kept a credit union account for years even though the interest rates they offer can't begin to compete with that of bigger banks because they are conveniently located and offer good customer service. Their ATMs are on the SUM network so you can access your money for no fee on any ATM on the SUM network (many of these ATMs are in Cambridge and Boston). So if you opened an account with your babysitting money years ago, it might not be a bad idea to just keep it here. For bigger accounts, I would probably switch to a bigger bank.

PROS: Great interest rate on CDs right now
CONS: Online banking leaves a lot to be desired

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Winthrop Federal Credit Union is located in the heart of Winthrop's commercial district (Winthrop Center). The credit union is a town fixture and most of the friendly staff are locals. This is the kind of financial institution where the tellers know your name without looking at your account.

To belong to this Credit Union you need only be a resident of Winthrop, Revere, or East Boston. Benefits of membership are free checking with only $25 minimum deposit in a WFCU savings account. Free ATM access at WFCU ATM or when using a SUM network ATM.

PROS: Friendly tellers, free checking, free ATM, online account access
CONS: Parking, low interest rate

4
★★★★☆

Winthrop Federal Credit Union is located in the heart of Winthrop's commercial district (Winthrop Center). The credit union is a town fixture and most of the friendly staff are locals. This is the kind of financial institution where the tellers know your name without looking at your account.

To belong to this Credit Union you need only be a resident of Winthrop, Revere, or East Boston. Benefits of membership are free checking with only $25 minimum deposit in a WFCU savings account. Free ATM access at WFCU ATM or when using a SUM network ATM.

PROS: Friendly tellers, free checking, free ATM, online account access
CONS: Parking, low interest rate

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