Charter Oak to Open Full-Service Branch in Mystic

New Facility Will Be Credit Union's 15th Branch in Eastern CT
 
Waterford, CT – Charter Oak Federal Credit Union announced Wednesday, September 30, 2015, that it will open a new full-service branch in Mystic – the 15th in its growing eastern Connecticut network – as it continues its multi-year expansion of branches across New London and Windham counties.

"Mystic is an ideal location for Charter Oak's newest branch," said Brian A. Orenstein, Charter Oak's President and Chief Executive Officer. "It gives us the much-needed opportunity to better serve our membership throughout the greater Mystic area," he said.

"And the combination of nearby businesses, tourism attractions and easy transportation access will provide our new Mystic branch with a significant springboard for future growth – of both individuals and businesses," Orenstein said. "With this latest expansion, Charter Oak will offer one of the largest and most convenient branch networks of any financial institution in eastern Connecticut," he said.

The new Mystic branch, which is scheduled to open in spring 2016, will be located at 4 Hendel Drive. The new branch is conveniently located along Route 27, a major thoroughfare for the region featuring restaurants, hotels and nearby tourist attractions. The new branch is also located across from an entrance and exit to Interstate 95.

George A. Crouse, Jr., Stonington’s First Selectman, welcomed the announcement, saying “We are excited about Charter Oak Federal Credit Union opening in Mystic. Along with its longstanding Pawcatuck branch, residents and businesses will gain full services in both villages. Charter Oak will now have a significant presence in Stonington. The excellent services Charter Oak provides and their commitment to Stonington will bring choices and opportunities for growth to our town.”

The Mystic branch is the latest in Charter Oak's multi-year expansion across eastern Connecticut. In 2013, Charter Oak opened a new branch in Putnam to accommodate its growth in the upper portions of Windham County, and in 2014 Charter Oak opened its new Branch and Headquarters building on Route 85 in Waterford. The multi-story headquarters complex covers nearly 65,000 square feet and houses 125 employees. It is the largest expansion project in Charter Oak's 76-year history.

Charter Oak anticipates a major renovation and upgrade to the Mystic facility to transform it into the newest of Charter Oak's full-service branches. The 3,300-square-foot Mystic branch, which will be one of the largest in its branch network, will feature a drive-up ATM and lobby ATM as well as a drive-up teller lane.

The branch interior will feature a full teller line as well as efficient new workspaces for the branch’s Member Service Representatives and an Internet Café featuring desktop computers and coffee and tea for members’ use. Point One Architects of Old Lyme, which designed Charter Oak’s new Branch and Headquarters, will also serve as the architect and designer of the credit union’s new branch in Mystic.

Charter Oak, which for the past five years has been the Number 1 mortgage lender in eastern Connecticut, is also eastern Connecticut's largest credit union with assets of $874 million as of June 30, 2015, and 14 branches stretching across New London and Windham counties. For more information about Charter Oak's products and services, visit our website at CharterOak.org.

Charter Oak Federal Credit Union, based in Waterford, 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 and 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.