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The UMassFive Difference


Being a non-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.
The Seven Co-operative Principles upon which our culture is founded
  • Voluntary and Open Membership
  • Democratic Member Control
  • Member Economic Participation
  • Autonomy and Independence
  • Training and Information
  • Co-operation Among Co-operatives
  • Concern for Community

Our Investment Strategy

UMassFive only invests in options that are either 100% guaranteed by the United States Government or implied 100% guaranteed by the United States Government. These include:

  • NCUA or FDIC Insured Credit Union or Bank Certificate of Deposit
  • Government Sponsored Enterprise (GSE) of the United States Government: Federal National Mortgage Association (FNMA); Federal Home Loan Mortgage Corporation (Freddie Mac); Government National Mortgage Association (GNMA)
  • Small Business Administration (SBA) and United States Department of Agriculture (USDA) guaranteed loans. UMassFive occasionally buys a portion of these types of loans that are 100% guaranteed by the United States Government.

Our aim is safety and soundness so we do not put member deposits at risk.

UMassFive has never invested in:
Fossil Fuel Funding Bonds; Pipeline Companies; Energy Companies; Gambling Industry; Corporate Bonds; Municipal Bonds, Mutual Funds of any kind.

Our History


  • In 1967, UMassFive was founded by a handful of motivated employees of the University of Massachusetts Amherst to provide financial solutions to them and their immediate family members.
  • In 1973, Amherst, Hampshire, Mount Holyoke, and Smith Colleges were added to our field of membership.


  • Since our humble beginnings, we have grown from a one-room operation on the UMass Amherst campus, to a full-service financial institution with six physical branches, a full-service contact center, and a robust online presence.
  • We continue to partner with local community-based groups with which we share a vision, and now have over 50 local organizations that we serve and work with.

Our Mission

Our mission as a non-profit cooperative is to always put the interests of our membership first and to make a positive difference in their financial lives.

Our Promise

We promise to be member advocates and do what is in the best interest of each member.

Our Vision

Our vision is to maintain our strong credit union heritage, and to practice and promote cooperative values in all that we do. We are committed to having a positive, direct impact and influence on our members’ financial well-being. 

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 vision every day, while maintaining financial stability and adhering to all regulatory requirements.

Read our full Bylaws document here.