Webster First Federal Credit Union
Webster First Federal Credit Union is a federally chartered, member-owned credit union headquartered in Worcester, Massachusetts, serving over 91,000 consumer, small business, and commercial members across Massachusetts with deposits, lending, and insurance products.
- Company typePrivate
- Founded1928
- HeadquartersWorcester, United States
- Headcount101–250
- GTM typeB2C
- OfferingServices
What Webster First Federal Credit Union does
Webster First Federal Credit Union is a federally chartered, member-owned credit union founded in 1928 and headquartered at 271 Greenwood Street in Worcester, Massachusetts, with a second branch in Cambridge following its May 2024 merger with Cambridge Teachers Federal Credit Union. As of mid-2024 the institution holds approximately $1.5 billion in assets and serves over 91,000 members, offering a full suite of consumer and commercial financial products organized across four pillars: consumer banking (First Rate Checking at 5.00% APY, Teen Checking, savings, share certificates, IRAs, Coverdell ESA, and debit cards), borrowing (mortgages, construction, land, home equity, auto/motorcycle/RV/boat, personal, and credit builder loans), business banking (Elite Business Checking, business money market, commercial loans including SBA 504 financing, and business online/mobile banking with Cash Management Suite), and insurance through the WebFirst Insurance subsidiary (auto, home, landlord, renters, umbrella, life, business, and pet).
The technology stack centers on a digital banking platform accessible via web, iOS/Android mobile app, and 24/7 telephone banking, supported by Card Alert fraud monitoring, MFA through Google and Microsoft Authenticator, mobile deposit, mobile wallet integration (Apple Pay, Google Pay, Samsung Pay, Click to Pay), and Mastercard Zero Liability Protection. Distribution is augmented by access to nearly 30,000 surcharge-free ATMs through SUM and CO-OP network partnerships, and payment processing for merchants via a partnership with Payroc effective June 2026.
Webster First earns revenue primarily through net interest income on its lending portfolio (mortgages, auto, personal, commercial, multi-family) funded by member deposits, supplemented by interchange and service fees on deposit accounts and ancillary income from its insurance and payment processing operations. It serves individual consumers, small businesses, and commercial real estate borrowers primarily across Massachusetts, where it ranked #1 in commercial lending by number of loans (31) and #1 in multi-family lending by both dollar volume ($37.1M) and loan count (22) in Banker & Tradesman's 2025 Top Lender rankings.
Webster First Federal Credit Union firmographics
Firmographics- Name
- Webster First Federal Credit Union
- Legal name
- Webster First Federal Credit Union
- Website
- https://websterfirst.com
- Company type
- Private
- Founded year
- 1928
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Webster First Federal Credit Union is a federally chartered, member-owned credit union headquartered in Worcester, Massachusetts, serving over 91,000 consumer, small business, and commercial members across Massachusetts with deposits, lending, and insurance products.
- Ownership category
- akta.pro rank
Webster First Federal Credit Union industry classification
Industry- Product category
- Credit Union Banking
- NAICS
- Credit Unions (52213), Depository Credit Intermediation (5221)
- SIC
- Personal Credit Institutions (6141), Savings Institution, Federally Chartered (6035)
- akta.pro primary industry
- Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)
- akta.pro secondary industries
- Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL), Prime Unsecured Personal Loans (Installment) (FSAKAAAA)
Keywords
Where Webster First Federal Credit Union is headquartered
LocationHeadquarters
- HQ city
- Worcester
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Webster First Federal Credit Union business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Interest Income from Lending: Primary revenue stream from interest collected on mortgage loans, auto loans, personal loans, commercial loans, and multi-family lending. Credit union earns interest margins on loans extended to members.
- Deposit Taking: Accepting member deposits including checking accounts, savings accounts, share certificates, and IRAs. Deposits fund lending operations and earn competitive rates for members.
- Fee Income: Revenue from overdraft fees, ATM fees (waived at SUM and CO-OP network ATMs), and other service charges. Monthly maintenance fees are $0 for basic accounts.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | First Rate Checking - 5.00% APY on balances up to $1,000 |
| Subscription | Multi-year contract | Share Certificate Specials - Up to 3.85% APY (9-month term) |
| Subscription | Monthly | Credit Builder Loan - $500 to $5,000 |
| Subscription | Multi-year contract | SBA 504 Commercial Loans - 10% down payment structure |
| Subscription | Monthly | Basic Checking - $0 Monthly Maintenance |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels5 records
Webster First Federal Credit Union product offering
Product offeringCore offering
Webster First Federal Credit Union is a federally chartered, member-owned credit union providing consumer and business banking products including checking and savings accounts, share certificates, IRAs, mortgages, auto loans, personal loans, credit builder loans, and commercial lending. The institution also offers digital banking through online, mobile, and text channels, along with insurance products through its WebFirst Insurance subsidiary.
Product overview
Webster First Federal Credit Union is a federally chartered credit union headquartered in Worcester, Massachusetts, established in 1928. It operates as a single-unified financial institution offering a comprehensive suite of banking products and services organized into three primary pillars: consumer banking (checking, savings, certificates, IRAs, and credit builder loans), borrowing/lending (home mortgages, construction and land loans, home equity products, auto/motorcycle/RV/boat loans, personal loans, and commercial lending including SBA 504 financing), and business banking (Elite Business Checking, First Rate Checking for Business, Business Money Market, Commercial Loans, Business Online and Mobile Banking, Payment Processing via Payroc, Night Depository, and Business Secure File Transfer). The institution also operates WebFirst Insurance as a subsidiary, offering auto, home, landlord, renters, umbrella, life, business, and pet insurance products. Access channels include an online banking platform, mobile banking app (iOS/Android), telephone banking (24/7), and a network of physical branches and ATMs. The credit union's digital services feature fraud monitoring, mobile wallet compatibility, early direct deposit, budgeting tools, and MFA security. A merger with Cambridge Teachers FCU completed in May 2024 expanded the institution to over $1.5 billion in assets and 91,000+ members.
Differentiator
Problem solved
Functional benefit
Products and services
- First Rate Checking
- Teen Checking
- Debit Cards
- First Rate Savings
- All Purpose Club
- Money Market
- Share Certificates
- IRAs
- Coverdell Educational Savings Account
- Mortgages
- Construction Loans
- Land Loans
- Home Equity Loans and Lines of Credit
- Auto Loans
- Motorcycle Loans
- RV and Boat Loans
- Personal Loans
- Credit Builder Loans
- Elite Business Checking
- First Rate Checking for Business
- Business Money Market
- Business Debit Card
- Commercial Loans
- Business Online and Mobile Banking
- Night Depository
- Payment Processing
- Online Banking
- Mobile Banking
- Telephone Banking
- Branches and ATMs
- Auto Insurance
- Homeowners Insurance
- Renters Insurance
- Term Life Insurance
- Business Insurance
- Pet Insurance
Quantifiable outcome
- Number one in Massachusetts commercial lending and multi-family lending (Banker & Tradesman Top Lender 2025)
- +2 more outcomes
Companies that use Webster First Federal Credit Union
Customer profileSegments3 records
Ideal customer profiles2 records
Webster First Federal Credit Union technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration12 records
Feature5 records
Webster First Federal Credit Union partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- Cambridge Teachers Federal Credit UnioncoreCompleted merger with Cambridge Teachers Federal Credit Union effective May 31, 2024. This was Webster First's sixth merger since 2011, adding new members and branch locations to expand Massachusetts presence.
- PayroccorePayment processing partnership providing integrated payment solutions for Webster First Federal Credit Union business members in Massachusetts. Payroc serves as the payment processing infrastructure enabling merchants to accept card payments.
Scale indicators7 records
Recent moves7 records
Expansion highlights6 records
Webster First Federal Credit Union competitors and assessment
Company assessmentDirect peers
- Workers Credit Union: Massachusetts community credit union with consumer banking, mortgage, and commercial lending products across Central Massachusetts. Directly comparable as a like-sized MA credit union competing for the same retail and small business members in overlapping geographies.
- Digital Federal Credit Union (DCU): Large Massachusetts-headquartered credit union offering consumer and business banking, lending, and digital-first services. Larger in scale but a directly competitive peer in Massachusetts consumer banking, deposit gathering, and mortgage origination.
- Merrimack Valley Federal Credit Union: Massachusetts community credit union serving consumers and businesses across the Merrimack Valley and Greater Boston region. Directly comparable as a like-sized MA credit union with similar consumer lending, deposit, and community banking focus.
- Hanscom Federal Credit Union: Massachusetts-based community credit union serving defense and civilian communities around Hanscom AFB, with consumer banking, mortgage, and member services. Comparable peer operating in the same Massachusetts market with similar community credit union structure and product mix.
- RELY Credit Union (formerly RTN Federal Credit Union): Massachusetts community credit union offering consumer banking, lending, and digital services. Comparable as a similar-sized MA-based credit union competing for retail members and small business relationships in overlapping geographies.
- Rockland Trust (Independent Bank Corp): Massachusetts-headquartered community bank offering consumer and commercial banking across the Northeast. Direct competitor for retail deposits, small business banking, and commercial real estate lending in the same Massachusetts footprint.
- Bay State Savings Bank: Massachusetts community savings bank headquartered in Worcester, offering consumer banking, mortgages, and commercial lending. Highly comparable as a directly competitive Worcester-based community financial institution in the same local market.
- Workers' Credit Union (corrected: Fall River area) — replaced with St. Mary's Bank Credit Union: New Hampshire-based community credit union offering consumer banking, mortgages, and small business lending across New England. Comparable as a community credit union peer in the broader New England market with similar product mix and member-owned structure.
Broad incumbents
- Berkshire Bank: Northeast regional bank with a Massachusetts branch network offering consumer banking, mortgages, and commercial lending. A broader incumbent competitor overlapping with Webster First in Massachusetts consumer and small business banking.
- Alliant Credit Union: Large digital-first US credit union with high-yield deposit products and national membership. Comparable as a credit union peer benchmark for digital member acquisition and high-APY deposit product strategy, though operating at significantly larger scale.
Market position
Strengths5 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Webster First Federal Credit Union social profiles
Digital presenceWebster First Federal Credit Union compliance and trust
Trust signalCompliance6 records
Webster First Federal Credit Union financial estimates
Financial estimateRevenue estimate
Valuation estimate
Webster First Federal Credit Union leadership team
Management profileNumber of profiles
Profiles6 records
Webster First Federal Credit Union subsidiaries and ownership
Company hierarchySubsidiaries3 records
Webster First Federal Credit Union funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Webster First Federal Credit Union M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Webster First Federal Credit Union
What does Webster First Federal Credit Union do?
Webster First Federal Credit Union is a federally chartered, member-owned credit union providing consumer and business banking products including checking and savings accounts, share certificates, IRAs, mortgages, auto loans, personal loans, credit builder loans, and commercial lending. The institution also offers digital banking through online, mobile, and text channels, along with insurance products through its WebFirst Insurance subsidiary.
Is Webster First Federal Credit Union a public or private company?
Webster First Federal Credit Union is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was Webster First Federal Credit Union founded?
Webster First Federal Credit Union was founded in 1928. It employs 101 to 250 people.
Where is Webster First Federal Credit Union based?
Webster First Federal Credit Union is headquartered in Worcester, United States, in the North America region.
How does Webster First Federal Credit Union make money?
Three revenue lines are on record. Interest Income from Lending is the primary driver. The others are deposit Taking and fee Income.
Who are Webster First Federal Credit Union's main competitors?
Direct peers on record are Workers Credit Union, Digital Federal Credit Union (DCU), Merrimack Valley Federal Credit Union, Hanscom Federal Credit Union, RELY Credit Union (formerly RTN Federal Credit Union), Rockland Trust (Independent Bank Corp), Bay State Savings Bank and Workers' Credit Union (corrected: Fall River area) — replaced with St. Mary's Bank Credit Union. Broad incumbents are Berkshire Bank and Alliant Credit Union.
Does Webster First Federal Credit Union have an API?
No public API is recorded for Webster First Federal Credit Union.
What industry is Webster First Federal Credit Union in?
Webster First Federal Credit Union's product category is Credit Union Banking. Its primary akta.pro industry code is FSABAEAA, Community Credit Unions (Retail/Consumer Focus), with a secondary code of FSAKAAAL, Bank & Credit Union Personal Loans (Unsecured Installment). Its NAICS code is 52213 and its SIC code is 6141.