Charter Oak Federal Credit Union

Rated star_ratedstar_ratedstar_ratedstar_rated_halfstar_normal by Credit Guide
Review based on 12 criteria Rating: 3.5 out of 5

1055 Hartford Tpke, Waterford, CT 06385-4005

Website

(860) 446-8085

Data Source: NCUA, December 31, 2016


Charter Oak Federal Credit Union was founded in 1939. Headquartered in Waterford, Connecticut, Charter Oak Federal Credit Union is a federally chartered and federally insured credit union, operating within the regulation of the National Credit Union Association (NCUA) and being insured through the National Credit Union Share Insurance Fund (NCUSIF). Charter Oak Federal Credit Union is also a member of the Federal Home Loan Bank (FHLB), which allows a credit union to access low cost secured borrowings or advances and prlides its members with financial products and services that assist and enhance the financing of housing and community lending.

As of December 31, 2016, Charter Oak Federal Credit Union services 63,100 members through its 15 offices and branches and 195 full-time and 10 part-time employees. It has $986,077,723 of total assets and $94,358,792 of net worth. Based on its asset size and net worth ratio, Charter Oak Federal Credit Union is classified as a Well Capitalized large credit union.

Charter Oak Federal Credit Union offers a number of deposit and loan products to its members. To find out how competitive the offers are, please go to the Interest Rates page. Charter Oak Federal Credit Union also provides an array of services to its members and local communities. Charter Oak Federal Credit Union plans to extend its services by adding more branches or service centers in the next 12 month. To find out more, please go to the Services page.

The following two tables list the deplitory and loan interest rates of Charter Oak Federal Credit Union’s popular offerings. You can find out how competitive the offerings are by comparing them to the median interest rates offered by credit unions in Connecticut and in the nation.

Major Deplitory Accounts and Interest Rates (%)

Interest Rate
Median of Connecticut
Median of USA
Checking
0.3200
0.0000
0.0000
Savings
0.0500
0.1000
0.1200
Money Market
0.4500
0.2500
0.2500
Certificate Deplit
1.2600
0.5000
0.5800
IRA
1.2100
0.5000
0.5000

Major Loan Accounts and Interest Rates (%)

Interest Rate
Median Rates of Connecticut
National Median Rates
Credit Cards
9.8700
10.7000
9.9900
Unsecured Line of Credits
10.5300
10.0000
10.9500
Short-term Small Amount
n/a
27.7400
25.0000
Student Loans
n/a
5.8400
6.0200
New Car Loans
2.9200
2.9700
3.3300
Used Car Loans
4.3000
4.0000
4.5000
1st Mortgage Real Estates
3.6600
3.9950
4.2500
Other Real Estates
3.9300
4.1400
4.7000

Charter Oak Federal Credit Union prlides a number of ways to access its services. In addition to its office and branches, a member can perform banking through Internet, phones, ATMs, and mobile devices. The table below lists the electronic banking services prlided by Charter Oak Federal Credit Union.

Electronic Banking Service Offerings

Membership Application
Yes
No
Share Account Transfers
Yes
New Loan Application
Yes
Share Draft Orders
Yes
No
New Share Account
No
Bill Payment
Yes
No
e-Statements
Yes
Loan Payments
Yes
No
Account Balance Inquiry
Yes
No
No
View Account History
Yes
No

As a community financial institution, Charter Oak Federal Credit Union actively involves in local communities by prliding services such as first tim home buyer programs.

Community and other Service Offerings

Financial Counselling
No
Bilingual Services
Yes
Free Bill Pay
Yes
Financial Education
No
In-School Branches
Yes
Free Tax Preparation Service
No
Financial Literacy Workshops
No
Student Scholarships
Yes
Insurance/Investment Sales
Yes
First Time Homebuyer Program
No
Chicago Avenue
32 Chicago Ave
Groton, CT 06340
Phone:860-446-8085

Dayville
589 Hartford Pike
Dayville, CT 06241
Phone:860-774-0469

Eb/new London
50 Pequot Ave
New London, CT 06320
Phone:860-446-8085

Fitch High School
101 Groton Long Point Rd
Groton, CT 06340
Phone:860-446-8085

Killingly High School
226 Putnam Pike
Dayville, CT 06241
Phone:860-446-8085

Long Hill Road
625 Long Hill Rd
Groton, CT 06340
Phone:860-445-1769

Montville
601 Norwich New London Tpke
Uncasville, CT 06382
Phone:860-848-7444

Mystic
4 Hendel Dr
Mystic, CT 06355-1965
Phone:860-446-8085

Niantic
335 Main St
Niantic, CT 06357
Phone:860-446-8085

Norwich
1 Connecticut Ave
Norwich, CT 06360
Phone:860-887-9256

Pawcatuck
20 Liberty St
Pawcatuck, CT 06379
Phone:860-535-5888

Putnam
7 Providence Pike
Putnam, CT 06260
Phone:860-446-8085

Waterford
3 Boston Post Rd
Waterford, CT 06385
Phone:860-446-8085

Waterford Headquarters
Main Office

1055 Hartford Tpke
Waterford, CT 06385-4005
Phone:860-446-8085

Willimantic
893 Main St
Willimantic, CT 06226
Phone:860-450-0285

(860) 446-3214

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  1. Credit Guide Staff
    Credit Guide Staff

    Last Updated on May 30, 2017

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