Start Saving Smarter in Woburn, MA

We all have different reasons for saving money. Maybe you are building an emergency fund for those unexpected "rainy days," putting money aside for a dream vacation, or saving for a down payment on a new home in Middlesex County. Whatever your goals are, having a safe, reliable place to grow your money is the first step toward financial peace of mind.

If you live or work in Woburn, MA, you have plenty of options when it comes to banking. However, where you choose to bank can make a significant difference in how fast your savings grow and how you are treated. At Common Trust Federal Credit Union, we believe that banking should be personal. We are not just a financial institution; we are a cooperative rooted right here in your community.

When you open a savings account with us, you are doing more than just making a deposit. You are joining a financial family that prioritizes your financial well-being over corporate profits.

Why Choose a Credit Union Over a Big Bank?

If you have always used big national banks, you might be wondering what makes a credit union different. The difference is in our structure, and it directly impacts your wallet.

Traditional banks are for-profit institutions. Their primary goal is to generate profit for their stockholders. This often results in higher fees for customers and lower interest rates on savings accounts.

Common Trust FCU is different because we are not-for-profit. We do not have stockholders. Instead, we are owned by our members, people just like you. Because we do not have to pay out dividends to outside investors, we return our earnings to our members. This cooperative model allows us to offer:

• Competitive dividends (interest) on savings accounts.

• Lower and fewer service fees.

• Personalized, friendly service from people who know your name.

When you bank with us, you are not just a customer number; you are a member and an owner.

Our "Share Savings" Account: Your Key to Membership

You might notice that we refer to our primary savings account as a "Share Savings" Account. This is a unique term used by credit unions, and it highlights your ownership in the cooperative.

When you deposit money into this account, you are purchasing a "share" of Common Trust FCU. This account serves as the foundation of your membership and opens the door to all the other financial products and services we offer, from checking accounts to loans.

Key features of our Share Savings Account include:

• Low Barrier to Entry: You do not need a large sum of money to get started. A small minimum deposit is all it takes to open your account and establish your membership.

• Safety and Security: Your peace of mind is our priority. Your funds are federally insured by the National Credit Union Administration (NCUA) up to at least $250,000, the credit union equivalent of the FDIC. In addition, we participate in Massachusetts Share Insurance Company (MSIC), which provides coverage for deposits over $250,000, adding an extra layer of protection for your funds.

• Steady Growth: Our accounts earn competitive dividends, helping your money work harder for you over time.

Who Can Join Common Trust FCU?

Becoming a member of Common Trust FCU is easier than you might think. We are a community-chartered credit union, which means our field of membership is based on our local geography.

Additionally, membership is a family affair. If you are already a member, your immediate family members are also eligible to join and enjoy the benefits of credit union membership. It is a great way to help your children or spouse start their own journey toward financial success.

Visit Us in Woburn

While we offer modern Online and Mobile Banking tools, we know that sometimes you just want to talk to a real person. One of the biggest advantages of banking locally is having a branch nearby when you need it.

We invite you to visit our branch in Woburn, MA. Whether you need help setting up your new savings account, want to discuss a loan, or simply have a question about your finances, our friendly team is here to help. We pride ourselves on providing the kind of attentive, neighborly service that you simply won't find at a massive mega-bank.

Ready to Watch Your Savings Grow?

Building a secure financial future starts with a single step. By choosing Common Trust FCU, you are choosing a partner that is invested in your success. With secure Share Savings Accounts, competitive rates, and a commitment to the Woburn community, we are here to help you reach your goals.

Don't let your money sit idle. Join the Common Trust family today.