Not-for Profit, cooperative financial institution.
Serving employees, students, and family members of the Five College systems in Western Massachusetts.
Keywords: UMassFive College Federal Credit Union, Amherst, Mass, bank, savings, checking, share draft, investment advise services, UMass Amherst, UMass Worcester, UMass Dartmouth, e-banking, internet banking, online banking
Interview Q&A
How long have you been in business?
In 1967, UMassFive was created by a handful of motivated employees of the University of Massachusetts System to provide financial solutions to them and their immediate family members. In 1971, Amherst, Hampshire, Mount Holyoke, and Smith Colleges were added to our field of membership. Since the start of UMassFive, we have grown from a one-room operation on the UMass Amherst campus, to a full-service financial institution with five physical branches, a full-service contact center, and a robust online presence. We continue to partner with other groups with which we have a common bond, and now have over 40 different sponsor organizations that we serve.
What is your primary product or service?
Loans, Checking, Savings, Online Banking, Mobile Banking and Mobile Deposits, and more!
How do you differentiate yourself from other businesses in your category and area?
Being a non-profit financial co-operative means UMassFive operates as an association of people coming together for a common purpose. Members pool deposits then loan those deposits to other members. The seven co-operative principles guide all that we do and helps define our culture and promise to you, the member.
How many locations do you have and do you have plans to expand?
We currently have five branches serving Amherst, Hadley, Northampton, Springfield, and Worcester.