Charter Oak's Roots
Founded back in 1939 as the Groton Shipbuilders' Federal Credit Union, Charter Oak Federal Credit Union has deep roots in Southeastern CT. First run by an employee of Electric Boat, most of our Credit Union's initial business was done out of a lunchbox. Servicing 436 members in our first year, our assets were just $5,000 and our highest loan was $50. By 1944, our Credit Union had grown to 5,700 members with assets of $593,000.
Since those days, Charter Oak has come a long way. We continue to grow and prosper and are now one of the region's strongest financial institutions. We boast nearly 70,000 members and we have twelve branches located conveniently throughout New London and Windham counties. Much of our strength is drawn from our commitment to our deep-rooted values and the communities in which we serve.
Most of all, we know what really matters...and that's our members. Our Credit Union has member-focused, knowledgeable employees who build and maintain relationships with the people they serve. We are dedicated to providing our members with relationships beyond banking. After all, our members are our greatest asset.
After more than 70 years in business, we have seen changes in our name and in our field of membership. However, one thing has remained the same: the dedication our Credit Union has to its members and the credit union industry. Our history speaks clearly to the kind of financial institution Charter Oak is: of the people and for the people. We are a financial institution with a unique set of people-oriented values. Experience the Charter Oak difference by becoming a member today!
