Charter Oak Receives Top 5-Star Rating for Year-End 2016 Performance

Waterford, CT – Charter Oak Federal Credit Union has earned the top 5-Star “Superior” rating from BauerFinancial Inc. for its year-end 2016 financial performance, confirming that Charter Oak remains one of the strongest financial institutions in the nation.

“We’re pleased to again earn this top five-star rating, which is indicative of our continuing financial strength as well as our prudent management of our finances,” said Brian A. Orenstein, Charter Oak’s President and Chief Executive Officer. “We manage our finances at Charter Oak in a very safe and sound manner, and that’s clearly reflected in this latest five-star rating,” he said. 

Charter Oak’s 5-Star rating is based on the credit union’s financial data as of December 31, 2016, which is the most recent financial data used by BauerFinancial to report its ratings.

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.

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, Florida-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 assets of $1.01 billion as of March 31, 2017. Charter Oak has a network of 16 branches serving New London and Windham counties, providing one of the largest and most convenient branch networks of any financial institution serving eastern Connecticut. For more information about Charter Oak’s range of 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 is like a bank, just better! We've been proudly serving eastern Connecticut since 1939 and we offer great checking, deposit, lending, insurance and investment products. And because we're a credit union, we're owned by our members, not by shareholders. So we can offer lower rates on loans and higher rates on deposits. It's easy to become a Charter Oak member: simply live, work, worship, learn, or volunteer in New London or Windham counties. So join today and see why Members Bank Better at Charter Oak! Learn more at CharterOak.org, or visit any of our convenient branches, or simply call 860.446.8085 or 800.962.3237.