Charter Oak Again Receives Top 5-Star Rating

Superior Ranking Reflects Credit Union’s Strong Financial Condition
 
Waterford, CT – Charter Oak Federal Credit Union has again earned the top 5-Star rating from BauerFinancial Inc., which indicates that Charter Oak is one of the strongest financial institutions in the nation.

“This top rating is a clear indication of Charter Oak’s superior financial condition,” said Brian A. Orenstein, Charter Oak’s President and Chief Executive Officer. “Our 5-Star rating also reflects our continued safe and sound management of our credit union finances,” he said. Charter Oak’s assets grew to $935 million as of December 31, 2015, up a healthy 10 percent from 2014’s year-end assets of $847 million.

BauerFinancial is the nation’s leading independent bank and credit union rating and research firm. The firm awards its top 5-Star rating only to those financial institutions that excel in their capital, asset quality, profitability and other financial areas. This latest 5-Star rating is based on September 30, 2015 financial data, which was made available by BauerFinancial in January 2016. The next BauerFinancial data will be based on December 31, 2015 financial data and will be available in mid-March.

Financial institutions that earn BauerFinancial’s top 5-Star rating are safe, financially sound and operating well above their regulatory capital requirements. The Coral Gables, FL-based BauerFinancial compiles its financial data based on information reported to the National Credit Union Administration (NCUA), the governing federal agency for credit unions. For more information about BauerFinancial, please visit its website at www.BauerFinancial.com or call 800.388.6686.

Charter Oak is eastern Connecticut's largest credit union with 14 branches in New London and Windham counties. Charter Oak will open its 15th branch in Mystic this spring, providing one of the largest and most convenient branch networks of any financial institution in eastern Connecticut. For more information about Charter Oak’s products and services, please visit any of our convenient branches, or visit our website at CharterOak.org, or contact our Call Center at 860.446.8085 or 800.962.3237.

Charter Oak Federal Credit Union, headquartered in Waterford, Connecticut, offers a broad range of financial services – including checking, deposit, lending, insurance and investments – to individuals, businesses, non-profits and professionals in New London and Windham counties. If you live, work, worship, attend school, or volunteer in New London or Windham counties, we invite you to do business with us. For more information about what Charter Oak can offer you, please visit CharterOak.org. Federally insured by NCUA. Equal Housing Lender.