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The UMassFive Difference

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Being a not-for-profit financial cooperative means UMassFive operates as an association of people coming together for a common purpose. Members pool their deposits, then loan those deposits to other members.

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What This Means For You

When you join UMassFive, you'll be required to open a Base Savings account with $5. Those five dollars act as your share of the Credit Union, and make all of our great member benefits available for you to enjoy.

  • By having an account at UMassFive you are a member-owner of the Credit Union.
  • You have one share of the Credit Union which allows you to vote for our volunteer board of directors.
  • As a member in good standing, you are allowed to run for the volunteer board of directors.
  • All the profits of the Credit Union are returned to you—our members—in the form of higher dividends, lower loan rates and fees, and improved services.

Our Mission

We create access to financial well-being for our members, sponsor groups, and the greater Pioneer Valley.

We do this through financial education, personalized attention, maintaining strong partnerships with organizations in our local community, and providing a workplace culture that encourages professional growth, empowerment, member advocacy, and teamwork. We pursue this mission every day, while maintaining financial stability and adhering to all regulatory requirements.

Read Our Bylaws Document
UMassFive members and community

The Eight Co-operative Principles upon which our culture is founded

  1. Voluntary and Open Membership
  2. Democratic Member Control
  3. Member Economic Participation
  4. Autonomy and Independence
  5. Training and Information
  6. Co-operation Among Co-operatives
  7. Concern for Community
  8. Diversity, Equity, and Inclusion

Our Investment Strategy

At UMassFive, every financial decision begins with one question: Does this protect member deposits and preserve our long-term strength?

As a member-owned credit union, we don't invest to chase higher returns or take on unnecessary risk. We invest to preserve capital, maintain financial stability, and ensure we remain strong and dependable for our members — today and long into the future.

Safety and Stewardship First

UMassFive adheres to a conservative, disciplined investment approach. We only invest in financial instruments that are fully guaranteed or backed by the United States Government or its government-sponsored enterprises.

What We Don't Invest In

Federal credit unions are legally limited to specific, low-risk investment types. We do not invest in: corporate stocks or corporate bonds, municipal bonds, mutual funds or exchange-traded funds, fossil fuel or pipeline funding bonds, energy companies, gambling-related industries, or other speculative or high-risk instruments.

Returning Value to Members

Any income generated from our investments is returned to you through competitive loan rates, strong deposit yields, lower service charges, and continued improvements to our services and technology.

Our History

  1. 1967

    University of Massachusetts (U-Mass) Employees Federal Credit Union is chartered. New branch opens in the basement of Draper Hall on the UMass Amherst Campus.

  2. 1969

    Credit Union Bylaws amended to include language stating, “once a member, always a member.”

  3. 1970

    UMass Amherst Branch relocated to the Student Union.

  4. 1971

    The U-Mass Federal Credit Union became federally insured by the NCUA.

  5. 1972

    Field of Membership expanded to include Five College Employees & Faculty (Amherst, Smith, Mount Holyoke, and Hampshire).

     

    Credit Union Bylaws amended to include employees of entities that “work on the premises of” the five campuses of UMass and the other four colleges.

     

    Field of Membership expanded to include Folger Shakespearean Library and Five College Inc.

  6. 1975

    Name Changed to U-Mass/Five College Federal Credit Union.

     

    The University of Massachusetts Student Federal Credit Union is chartered.

  7. 1984

    UMassFive becomes the first credit union in the state to offer ATM cards.

  8. 1989

    Field of Membership expanded to include Kaiser Permanente (Valley Medical Group).

  9. 1990

    Field of Membership expanded to include Clarke School for the Deaf.

  10. 1992

    Field of Membership expanded to include U S Fish & Wildlife.

  11. 1993

    Field of Membership expanded to include US Department of Agriculture.

  12. 1994

    Field of Membership expanded to include Millitech Corporation.

  13. 1996

    Merger with the University of Massachusetts Student Federal Credit Union.

  14. 1998

    Credit Union Bylaws amended to reflect immediate family membership eligibility.

  15. 1999

    Field of Membership expanded to include UMass Memorial Health Care.

     

    Field of Membership expanded to include UMass Worcester Students.

     

    Field of Membership expanded to include Hampshire Hospitality Group.

  16. 2000

    Merger with the Amherst/Pelham Town Employees FCU.

     

    Field of Membership expanded to include Pioneer Valley Performing Arts, Town of Hadley, and Mass Venture Corp.

  17. 2001

    New branch and operations center opens in Hadley.

     

    Field of Membership expanded to include Wing Memorial Hospital & Medical Centers and the Quaboag Valley VNA & Hospice.

     

    Field of Membership expanded to include Town of Belchertown, Easthampton Electric, The Common School, and Mid-Town Motors.

     

    Field of Membership expanded to include Leverett Village Co-op.

  18. 2003

    Field of Membership expanded to include Millivision Inc.

  19. 2005

    Field of Membership expanded to include Amherst College Students.

  20. 2006

    Field of Membership expanded to include Franklin County Sheriff’s Office and Williamsburg Firefighter’s Association.

  21. 2007

    New branch opens in Northampton.

     

    Field of Membership expanded to include Smith College Students.

     

    Field of Membership expanded to include Sunbridge Care & Rehabilitation (Elaine Manor).

  22. 2008

    Name changed to UMassFive College Federal Credit Union.

     

    Field of Membership expanded to include River Valley Market.

     

    Field of Membership expanded to include Franklin-Hampshire Career Center, Hampshire Regional School District, The Food Bank of Western Massachusetts, Town of Southampton, Williston Northampton School, Old School Homeowners Association, Amherst Golf Club, Dakin Pioneer Valley Humane Society, and Pioneer Valley Chinese Charter School.

  23. 2009

    Field of Membership expanded to include Hampshire College Students.

     

    Field of Membership expanded to include Mount Holyoke Students.

  24. 2010

    Field of Membership expanded to include CISA (Community Involved in Sustaining Agriculture).

     

    Field of Membership expanded to include UMass Amherst Alumni Association.

  25. 2012

    Field of Membership expanded to include Collaborative for Education Services, Franklin Community Co-op, and Old Creamery Co-op.

  26. 2013

    Field of Membership expanded to include Five College Learning in Retirement.

     

    UMass Amherst Branch relocated to the Campus Center.

     

    UMass Memorial Health Care transferred ownership of Wing Memorial to Baystate Medical in Springfield.

     

    Merger with Credit Union of Providence Systems Federal Credit Union (CUPS). New branch opens in the Rehabilitation building at Mercy Medical Center Campus.

  27. 2015

    Field of Membership expanded to include City of Northampton.

  28. 2016

    Northampton Branch relocated to 225 King St.

     

    Field of Membership expanded to include Greenfield Community College.

  29. 2017

    UMassFive celebrates 50th anniversary.

     

    Field of Membership expanded to include Town of Hatfield, New England Academy of Chinese Language & Culture, and Hitchcock Center.

     

    Addition of Commercial Services team and business banking products/services.

  30. 2019

    Merger with Northampton V.A.F. Federal Credit Union (NVAFFCU). New branch opens on VA Medical Center Campus in Leeds.

  31. 2020

    Field of Membership expanded to include Town of South Hadley employees.

  32. 2026

    New branch opens in East Longmeadow.