UMassFive

What UMassFive does

UMassFive College Federal Credit Union is a federally chartered, member-owned cooperative credit union established in 1967 and headquartered in Hadley, Massachusetts. It operates as the Official Credit Union of UMass Amherst and the UMass Amherst Alumni Association, with a secondary strategic position in the U.S. Department of Veterans Affairs' Veterans Benefits Banking Program. The institution serves primary customer segments of UMass-affiliated students, faculty, staff, alumni and their families, Massachusetts residents meeting membership eligibility criteria, veterans, and small business owners. It generates revenue primarily through net interest income on loans (auto, mortgage, solar, home equity, student, personal) and deposits (checking, savings, CDs, IRAs), supplemented by transaction fees, insurance commissions (TruStage, Assurant, GAP), and advisory fees from LPL Financial-delivered wealth management services.

The product portfolio spans personal and business banking (Co-op Advantage Checking at 0.50% APY up to $15k, Money Manager Plus Savings up to 3.00% APY on balances over $200k, Term Deposits up to 3.55% APY), a full lending suite (auto loans from 5.79% APR, MySolar up to $100k, 0% HEAT Loans through Mass Save, mortgages via subsidiary Member Advantage Mortgage, LLC), and a differentiated sustainability lending line (Bicycle, Farm Share, Energy & Fuel Conservation). Digital infrastructure includes online and mobile banking (iOS/Android) powered by Fiserv (My Cards card management), Zelle P2P integration, mobile wallet support (Apple/Google/Samsung/Garmin/Fitbit Pay), credit score monitoring, and external account aggregation. Distribution is anchored by six Massachusetts branches including exclusive on-campus locations at UMass Amherst and UMass Medical School, plus a dedicated branch at the Northampton VA Medical Center, supplemented by Co-op Shared Branching and MoneyPass ATM networks.

The business model is the standard mutual credit union model: member-owned cooperative returning profits through better rates, lower fees, and the Co-op Points rewards program (2,500 points redeemable for a 0.25% loan rate discount). GTM is community-led, leveraging university and veteran community ties for acquisition, with product-led growth through self-service digital onboarding. Federal insurance by NCUA (Routing # 211880271, NMLS # 460131) and Equal Housing Lender designation provide regulatory credibility. The institution has no parent company, no outside investors, and operates as an independent not-for-profit cooperative.

Name

UMassFive

Legal name

UMassFive College Federal Credit Union

Website

https://umassfive.coop

Company type

Private

Founded year

1967

Operating status

Operating

Headcount range

101–250 employees

Short description

UMassFive College Federal Credit Union is a federally chartered, member-owned cooperative credit union headquartered in Hadley, Massachusetts, serving the UMass Amherst community, Massachusetts residents, veterans, and small businesses through six branches, a digital banking platform, and a full suite of deposit, lending, and wealth management products.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Student/University Credit Unions (FSABAEAJ)

akta.pro secondary industries

Military & Veterans Credit Unions (FSABAEAI), Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

Keywords

• Retail banking services
• Credit union services
• Consumer lending
• Digital banking
• Savings accounts

Headquarters

HQ city

Amherst

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Net Interest Income: As a credit union, UMassFive's primary revenue is generated from the spread between interest earned on loans (mortgages, auto loans, personal loans, credit cards) and interest paid on deposits (checking, savings, term deposits). This represents the core earnings mechanism of the cooperative.
2. Fee Income: Various service charges including overdraft fees, ATM fees from out-of-network usage, wire transfer fees, stop payment fees, money order fees, and paper statement fees. Some fees are waived for qualifying accounts (e.g., eStatement enrollment).
3. Insurance & Protection Products: Revenue from ancillary products including GAP insurance, extended warranties, credit life/disability insurance, TruStage auto/home/life insurance, and Mechanical Repair Coverage (Vehicle Care by Assurant) offered in connection with auto lending.
4. Wealth Management / Investment Services: Retirement planning and investment services offered through CFS advisors, with revenue generated from advisory fees on managed accounts and investment products sold to members.

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels8 records

Core offering

UMassFive College Federal Credit Union is a federally chartered, member-owned cooperative credit union that provides deposit accounts (checking, savings, term deposits, IRAs), consumer and commercial lending (auto, mortgage, home equity, student, personal, and sustainability loans), credit cards, digital banking, wealth management through LPL Financial, and insurance products to the UMass Amherst community, Massachusetts residents, veterans, and small businesses. The credit union generates revenue primarily through net interest income on loans and deposits, supplemented by service fees, insurance commissions, and advisory fees.

Product overview

UMassFive College Federal Credit Union offers a comprehensive suite of financial products and services organized around personal and business banking, digital banking, lending, and wealth management. The core offering centers on checking and savings accounts (Co-op Advantage Checking, Simple Checking, Base Savings, Goal Savings, Money Manager, Term Deposit Savings) with specialty products including education savings (Coverdell), holiday clubs, and IRAs. Digital banking capabilities are delivered through Online & Mobile Banking, eStatements, My Cards (Fiserv-powered card management), and Mobile Wallet support (Apple Pay, Google Pay, Samsung Pay, Garmin Pay, Fitbit Pay) integrated with Zelle for P2P payments. Lending products span sustainability loans (MySolar, HEAT, Bicycle, Farm Share), consumer lending (Auto, Motorcycle, RV, Home Equity, Mortgages via Member Advantage Mortgage, Student Loans, Personal Loans), and business commercial lending. Reward programs include Co-op Points and uChoose Rewards, with insurance products through TruStage partners. Wealth management services are provided through LPL Financial (umassfive-lpl.com).

Differentiator

Problem solved

Functional benefit

Products and services

• Co-op Advantage Checking Premium checking account offering 0.50% APY on balances up to $15,000 for qualifying accounts, up to $10 monthly ATM charge refunds, and cash back through uChoose Rewards. Requires 12 debit card purchases, 1 direct deposit/ACH, and eStatements enrollment monthly.
• Simple Checking Basic non-interest bearing checking account with no minimum balance and no monthly fees when enrolled in eStatements. Designed for members with restrictions preventing dividend earnings.
• Visa Debit Cards Signature purple debit cards with EMV chip technology, instant issuance at branches, and enhanced security features including card on/off controls, spending limits, GPS-based restrictions, and real-time purchase alerts through My Cards.
• Base Savings Primary share savings account required for membership with $5 minimum deposit. Features enhanced 0.25% APY dividend rate for first $500 balance to help build emergency funds.
• Goal Savings Sub-savings account allowing members to create separate accounts for different financial goals with nicknames. Features 0.05% APY with no minimum balance requirements.
• Money Manager Savings and Money Manager Plus Savings Tiered-interest savings accounts. Money Manager Savings earns 0.50%-0.80% APY across balance tiers up to $75,000+ with $2,500 minimum. Money Manager Plus Savings earns 1.00% APY up to $100,000 and up to 3.00% APY above $200,000 with $100,000 minimum to open.
• Term Deposit Savings (Certificate of Deposit) Certificate of deposit accounts with terms from 90 days to 60 months. Minimum $500 balance, with Bump-Up options on 24 and 60-month terms. Rates up to 3.55% APY standard, 3.81% APY with 2,500 Co-op Points.
• Coverdell Education Account Tax-advantaged education savings with $500 minimum, featuring the same rate structure as Term Deposits. Earnings tax-free when used for qualified educational expenses.
• IRA Savings (Traditional and Roth) Retirement savings accounts available in Traditional and Roth IRA options. Traditional offers tax-deferred earnings with potential tax-deductible contributions; Roth offers after-tax contributions with tax-free qualified withdrawals.
• Holiday Club Savings Specialty savings account with automatic fund transfer on September 30. Designed for holiday budgeting with premature withdrawal restrictions. Features 0.05% APY with $5 minimum.
• Online and Mobile Banking Digital banking platform offering 24/7 account access via web and mobile apps (iOS and Android). Features include mobile check deposits, bill pay, fund transfers, external account linking, credit score monitoring, and Quick View Widget for instant balance access.
• My Cards (CardSecure) Card management feature powered by Fiserv enabling card on/off control, spending limits, GPS-based geographic restrictions, real-time transaction alerts, travel plan scheduling, and uChoose Rewards access. Available through Online and Mobile Banking.
• eStatements Electronic statement delivery providing up to 18 months of statement history, faster delivery than mail, and automatic enrollment through Online Banking. Opting out may incur service charges.
• Auto Loans Vehicle financing offering up to 125% financing, terms up to 84 months, and same rates for new, used, and refinancing. Rates starting at 5.79% APR for qualifying accounts. No prepayment penalties.
• Motorcycle Loans Motorcycle financing with up to 100% financing and terms up to 60 months. Rates starting at 7.49% APR for 36-month terms.
• RV Loans Recreational vehicle financing for campers, motor homes, and travel trailers. Offers up to 90% financing with rates starting at 7.49% APR. Terms over 48 months available for loans above $20,000.
• Mortgages Mortgage products provided through Member Advantage Mortgage including fixed-rate, ARM, FHA, VA, and MassHousing programs. Features quick closings and online/in-person/phone application options.
• Fixed Home Equity Loans Fixed-rate home equity loans allowing borrowing up to 100% of home equity. Use for debt consolidation, rate reduction, or home improvements with a rate that stays constant for the loan's life.
• Home Equity Line of Credit (HELOC) Revolving credit line secured by home equity with borrowing up to 90% of value. Features interest-only payment options, no application or annual fees, and home equity checks for contractor payments.
• New Physician Mortgage Program Specialized mortgage for medical residents, fellows, and physicians featuring 5% minimum down payment, 100% gift funds allowed, and no Private Mortgage Insurance requirement.
• Student Loans and Student Loan Refinance Private student loan options for undergrads, graduate students, and refinancing, plus refinancing options for existing student debt to potentially lower rates or change repayment terms.
• Personal Loans and Lines of Credit
• MySolar Loans Solar financing for purchase and installation of solar electric systems. Offers up to $100,000 with terms up to 240 months, 0% origination fees, and no home equity requirement. Covers installation, storage, tree removal, and roof repair costs.
• HEAT Loans (Mass Save) Energy efficiency financing through Mass Save partnership. Offers 0% APR loans up to $15,000 for 84 months (standard) or up to $25,000 for enhanced options. Covers weatherization, windows, heat pumps, and residential batteries.
• Bicycle Loan
• Farm Share Loan Interest-free six-month loan for financing CSA (Community Supported Agriculture) farm shares from $200-$1,000. Zero cost to members or farmers with no interest charges.
• Energy and Fuel Conservation Loans Green financing for energy-saving purchases at 3.9% APR. Covers home heating expenses, pre-paid gas, public transit passes, ENERGY STAR appliances, and energy-saving improvements up to $3,000.
• Rewards Visa Signature Credit Card Rewards credit card with cash back earning and mobile wallet compatibility. No annual fee.
• Low Rate Visa Platinum Credit Card Low interest rate credit card with mobile wallet compatibility. No annual fee.
• Wealth Management and Investment Services Retirement planning and investment services through LPL Financial including CFS advisors, seminars, online tools, and market news. Offered at umassfive-lpl.com.
• Automotive Protection Services (GAP Plus, Credit Life and Disability, Mechanical Repair Coverage)
• Youth and Teen Banking Banking services designed for young members including Base Savings, Goal Savings, Youth Term Deposits, Graduate Term Deposits, and Co-op Advantage Checking with educational resources.
• Business Checking and Savings Accounts
• Business Digital Banking
• Commercial Lending
• Co-op Points Rewards Program
• uChoose Rewards

Quantifiable outcome

• 0.50% APY on qualifying checking accounts (4x the local average dividend rate of 0.12%)
• +6 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Feature5 records

Partnerships

14 partnerships are on record, tiered core and minor.

• Mass SavecoreStrategic or Co-development PartnerPartnership with Mass Save (Massachusetts energy efficiency program) to offer HEAT Loans — 0% APR financing up to $25,000 for qualifying energy-efficient home improvements including weatherization, windows, heat pumps, and residential batteries. This is a flagship sustainability lending product offered exclusively through the Mass Save program network.
• Member Advantage Mortgage, LLC (MAM)coreChannel Partner/ Reseller/ DistributorUMassFive refers mortgage lending to Member Advantage Mortgage, LLC, a credit union-owned mortgage lender. MAM provides a wide range of mortgage products including traditional fixed/variable rates, FHA, MassHousing, and the New Physician Mortgage program. MAM can originate mortgages outside of New England. UMassFive markets MAM products through its website and branches.
• Electric Ride (Quadrini Electric Bicycles)minorStrategic or Co-development PartnerPartnership with Electric Ride to offer exclusive 0% APR financing on Quadrini electric bicycles (starting at $2,195) as part of the sustainability-focused Bicycle Loan program. This co-branded financing promotes both alternative transportation and local/regional cycling businesses.
• UMass AmherstcoreStrategic or Co-development PartnerOfficial Credit Union partnership with UMass Amherst. UMassFive operates an on-campus branch in the Murray D. Lincoln Campus Center and holds exclusive designation as the credit union serving the university. The relationship provides student recruitment channels, campus presence, and institutional credibility.
• UMass Amherst Alumni AssociationcoreStrategic or Co-development PartnerOfficial Credit Union partnership with the UMass Amherst Alumni Association, providing alumni with access to UMassFive banking services and reinforcing the university-community connection.
• Fiserv (My Cards)coreTechnology or IntegrationMy Cards card management feature is powered by Fiserv. The service allows members to control debit and credit cards through the mobile app — turning cards on/off, setting spending limits, GPS-based restrictions, and receiving real-time transaction alerts. Fiserv provides the underlying card management technology infrastructure.
• Early Warning Services, LLC (Zelle)coreTechnology or IntegrationZelle peer-to-peer payment service is integrated into UMassFive's online and mobile banking. Zelle is owned and operated by Early Warning Services, LLC, a consortium of banks including Bank of America, Truist, Capital One, JPMorgan Chase, PNC, U.S. Bank, and Wells Fargo. UMassFive offers Zelle at no additional cost to members.
• Co-op Credit Union (Shared Branching)minorChannel Partner/ Reseller/ DistributorCo-op Credit Union enables shared branching access, allowing UMassFive members to conduct transactions at other credit union branches nationwide. Access to the Co-op Shared Branching network extends UMassFive's physical service footprint beyond its own branches. (Note: Shared branching temporarily unavailable at Hadley and Northampton locations.)
• MoneyPass ATMsminorChannel Partner/ Reseller/ DistributorMoneyPass ATM network partnership provides UMassFive members with surcharge-free ATM access nationwide at MoneyPass locations, supplementing the credit union's own ATMs and the Co-op Shared Branching network.
• TruStageminorChannel Partner/ Reseller/ DistributorTruStage insurance products (auto, home, life, and accidental death & dismemberment insurance) are offered through UMassFive. TruStage is a credit union-owned insurance provider providing member-priced insurance products marketed through the credit union.
• Assurant (Vehicle Care)minorChannel Partner/ Reseller/ DistributorMechanical Repair Coverage (Vehicle Care) by Assurant is offered in connection with auto lending. The Vehicle Care app, powered by Assurant, provides repair shop management, roadside assistance, maintenance alerts, and vehicle records management for members with mechanical repair coverage.
• CISA (Community Involved in Sustainable Agriculture)minorGTM or Marketing PartnerCISA (buylocalfood.org) is referenced as a resource for members seeking local farms offering Community Supported Agriculture (CSA) shares, which can be financed through the UMassFive 0% Farm Share Loan. This is a co-marketing relationship promoting local food access and sustainable agriculture.
• U.S. Department of Veterans Affairs (Veterans Benefits Banking Program)coreGTM or Marketing PartnerUMassFive participates in the Veterans Benefits Banking Program (VBBP), a VA initiative that connects veterans with trusted financial institutions. The program provides UMassFive with official VA recognition and access to the veteran community, while veterans gain access to affordable banking services including a dedicated branch at the Northampton VA Medical Center.
• LPL FinancialminorChannel Partner/ Reseller/ DistributorUMassFive Wealth Management services are delivered through LPL Financial, one of the largest independent broker-dealers. Wealth management services including retirement planning, investments, and financial planning are accessible through the umassfive-lpl.com platform and LPL's accountview.lpl.com portal.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Regional players

• Service Credit Union: New Hampshire-headquartered credit union with a strong New England branch and ATM network and military-affiliated membership base. Comparable in mission and product set, but operates in a different primary geography while serving overlapping New England populations.

Broad incumbents

• Workers Credit Union: Largest credit union headquartered in Massachusetts, with extensive branch network across the state and broad employer-group membership. Comparable as a regional incumbent competing for the same Massachusetts consumer and small business segments.
• DCU (Digital Federal Credit Union): One of the largest credit unions in Massachusetts and New England, offering the same personal and business banking products at much greater scale. Comparable as a broader Massachusetts credit union incumbent, but serves a far wider field of membership.

Direct peers

• MIT Federal Credit Union: Federally chartered credit union serving the MIT community (students, faculty, alumni, employees). Direct peer because both are university-anchored Massachusetts credit unions with similar member eligibility, branch + digital distribution, and lending product sets.
• Bay State Credit Union: Community-chartered Massachusetts credit union offering personal and business banking, lending, and digital services to local residents and employer groups. Comparable as a regional Massachusetts cooperative competitor for the same consumer banking wallet share.
• Hanscom Federal Credit Union: Massachusetts-based credit union with a strong military and veterans focus through the Hanscom Air Force Base community and Veterans Benefits Banking Program participation. Comparable to UMassFive's VA Medical Center branch strategy and veteran member acquisition motion.
• University of Michigan Credit Union: Large university-affiliated credit union serving the University of Michigan community with a similar mix of student onboarding, alumni retention, lending, and digital banking. Comparable as a peer in the university-credit-union niche, though at significantly greater scale.
• Harvard University Employees Credit Union (HUECU): Credit union serving the Harvard community with a comparable university-affiliated membership base in Massachusetts. Operates a similar mix of personal banking, lending, and digital services targeted at students, employees, and alumni.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/user/UMassFiveCU
• Facebookfacebook.com/umassfive
• LinkedInlinkedin.com/company/umassfive
• Instagraminstagram.com/umassfive
• Xx.com/umassfive

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about UMassFive