Charter Oak Receives Top 5-Star Rating from BauerFinancial Inc
Waterford, CT – Charter Oak Federal Credit Union has earned a top 5-Star rating from BauerFinancial Inc. for the first quarter of this year, which indicates Charter Oak remains one of the strongest financial institutions in the nation.
“This five-star rating reflects the strength of our financial condition,” said Brian A. Orenstein, Charter Oak’s President and Chief Executive Officer. “It's also a clear indication that we're continuing to manage Charter Oak’s finances in a safe and sound manner on behalf of our members,” he said.
This latest 5-Star rating is based on March 31, 2016 financial data, which was made available by BauerFinancial in June 2016. The next BauerFinancial data will be based on June 30, 2016 financial data and will be available in mid-September.
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 15 branches in 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.