Credit union · NCUA insured
Charter Oak Federal Credit Union
A $1.7B credit union, the 294th largest of 4,329, headquartered in Waterford, CT, with 86,156 members and 15 branches in Connecticut. Best rates: savings 0.05% APY.
Charter Oak Federal Credit Union Carrot Score
71
Carrot Score
Higher than 28% of U.S. banks and credit unions
#9 of 15 in Norwich, CT metroHow the score works →
Deposits are federally insured by the NCUA up to $250,000 per depositor.
About Charter Oak Federal Credit Union
Charter Oak Federal Credit Union was founded in 1939 as Groton Shipbuilders Federal Credit Union in Groton and is headquartered in Waterford, Connecticut.
The member-owned institution is eastern Connecticut's largest credit union, serving members with a branch network throughout eastern Connecticut.
- Headquarters
- 1055 Hartford Tpke, Waterford, CT 06385-4005
- NCUA charter
- 3413
Membership
Who can join
This may be incomplete or out of date, so check with the credit union before you apply.
Where you live or work
- Individuals who live, work, go to school, worship, volunteer, or donate in New London County or Windham County are eligible for membership.
Cost to join
- When a member opens an account, Charter Oak deposits a penny into their savings account.
Branches
15 branches in Connecticut
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Connecticut
15 branches
Norwich area · 12
- Waterford HeadquartersMain office1055 Hartford Tpke, Waterford, CT 06385Directions
- Chicago Avenue32 Chicago Ave, Groton, CT 06340Directions
- Fitch High School101 Groton Long Point Rd, Groton, CT 06340Directions
- Mystic4 Hendel Dr, Mystic, CT 06355Directions
- EB/New London50 Pequot Ave, New London, CT 06320Directions
- Niantic335 Main St, Niantic, CT 06357Directions
- Norwich1 Connecticut Ave, Norwich, CT 06360Directions
- Pawcatuck20 Liberty St, Pawcatuck, CT 06379Directions
- Mohegan Sun1 Mohegan Sun Blvd, Uncasville, CT 06382Directions
- Montville601 Norwich New London Tpke, Uncasville, CT 06382Directions
- Waterford3 Boston Post Rd, Waterford, CT 06385Directions
- Willimantic893 Main St, Willimantic, CT 06226Directions
Putnam area · 3
- Dayville589 Hartford Pike, Dayville, CT 06241Directions
- Killingly High School226 Putnam Pike, Dayville, CT 06241Directions
- Putnam7 Providence Pike, Putnam, CT 06260Directions
Walk-in offices from the NCUA directory as of March 31, 2026. Directions open Google Maps. A nearby branch doesn’t mean you can join or open an account.
Financial details
| Measure | This credit union | Peers’ middle | Strongest quarter |
|---|---|---|---|
| CapitalNet worth ratio | 12.54% | 10.86% | 12.59% or more |
| Troubled loans60+ days late | 0.50% | 0.70% | 0.46% or less |
| ProfitabilityReturn on assets | 1.62% | 0.82% | 1.16% or more |
| LendingLoans per $100 deposited | $58 | $88 | — |
- CapitalNet worth ratio12.54%Peers’ middle 10.86% · Top 25% 12.59%+
- Troubled loans60+ days late0.50%Peers’ middle 0.70% · Top 25% ≤0.46%
- ProfitabilityReturn on assets1.62%Peers’ middle 0.82% · Top 25% 1.16%+
- LendingLoans per $100 deposited$58Peers’ middle $88
Compared with the 479 credit unions with $1 billion or more in assets. The strongest quarter is what the best 25% of them reach: more capital and profit, fewer troubled loans. Lending has no better end.Troubled loans are loans 60 or more days late.
Regulators’ own ratings of Charter Oak Federal Credit Union are confidential. These figures are what it reports to the NCUA each quarter, set beside its peers; they aren’t a rating.