Frequently Asked Questions
- About MIT FCU
- Account Questions
- ATM Questions
- Checking Questions
- Credit Report FAQs
- Credit Score FAQ
- Credit vs. Debit, What's the Difference?
- Debit Card Questions
- Financial Literacy Questions
- GAP Protection and Credit Life & Disability Insurance
- General Product and Service Questions
- Home Banking Questions
- Loan and Credit Questions
- Miscellaneous Questions
- Mobile Apps
- Mobile Check Deposit (MCD)
- Mortgages - Closing and Beyond
- Mortgages and Homebuying
- Parent FAQ
- Roth IRA Questions
- Security Questions
- Share Certificates (CDs) Questions
- Student Loans
- Wallet Pay
Yes! As a parent of an MIT Student, you are eligible to join the credit union exclusive to the MIT community and take advantage of all the great benefits of membership!
Yes! We have two branches, and multiple ATMs on campus in Cambridge, and one branch with two ATMs at the MIT Lincoln Laboratory in Lexington. We are also a part of CO-OP Network offering multiple additional ATMs at 7-Elevens, and other locations both on campus and around the country.
Yes! Members can access their accounts 24/7 by using any of our convenient electronic services.
You'll have access to manage and transfer funds, control card usage, deposit checks, all from the convenience of your smart device or computer. Anywhere, anytime.
Yes! We offer an alternative student loan to help fill the funding gaps that federal aid can leave. By partnering with Credit Union Student Choice, we are able to offer members low cost financing options that can help your student achieve his or her dream of a higher education.
It's easy to become a member:
Complete our online application
You will need:
- Valid Government issued ID #
- Date of Birth
- Valid Social Security #
- Address, e-mail address and phone number
- MIT ID (if applicable)
International applicants complete this form, scan and attach as an email to info@mitfcu.mit.edu, or mail to us at MIT FCU, 70 Westview St., Lexington, MA 02421
While being a joint owner is the easiest way, there are several ways to deposit funds into your student’s account:
- Domestic & International Wires
- We do not charge for an incoming wire. See our Wire transfer instructions
- Mail deposits to our office at 70 Westview St., Lexington, MA 02421. Please be sure to include a note with the member’s name, account number, and account for deposit (Checking or Savings).
- Remember, please do not send cash in the mail.
- Shared Branch Options
- Deposits, withdrawals, loan payments and more can be made at any credit union that participates in our Shared Branching Network. That means a non-MIT FCU credit union can make transactions for you directly to your student's accounts. Visit our ATM/Branch Locator to find the one nearest you.
- Become a member! Cross account transfers make it easy to move funds between accounts, and easily deposit money into your student's account.
Possibly. Here are some things to consider...
- Joint owners have easy access for deposits/withdrawals, and transfers.
- Shared Branching means access to a branch in or near your hometown
- You’ll have online account access via e-Branch and remote deposit for check deposits.
Consider opening your own membership to have all these options and more!
That is a personal choice, but may be required to qualify if the student does not have sufficient verifiable income. Students under the age of 21 may apply for the card, but applicants must be able to demonstrate an ability to pay, or include a co-signer with sufficient income.
Membership is available to any MIT Staff, Faculty, Students (grad and undergrad) and many businesses affiliated with MIT. We also offer membership to a number of businesses in the Kendall Square area.
If you qualify for membership, that means the following family members also qualify: spouse, child, sibling, parent, grandparent, grandchild, stepchild, step-sibling, stepparent, and adoptive relationships. Spouses of persons who died while within our field of membership are also eligible.
In addition, people living in the same household with eligible members are eligible for membership.
Joining the credit union? Why not make it a family event? We've got financial education opportunities for pre-school through college, lots of great resources to assist with financial decisions at every stage of life, and no matter where you go, your account is accessible 24/7 via online, mobile and through CO-OP Network and Shared branches around the country.