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Charter Oak Federal Credit Union is a non-profit financial institution organized to serve the changing financial needs of all the member owners. Charter Oak is headquartered in Groton, Connecticut, the "Submarine Capitol of the World". We are very different from a bank; the people who do business with us are our members, not our customers. This means that our profits are returned to our members in the form of lower interest rates charged on loans, higher interest rates paid on share accounts, lower service fees, and expanded services. It also means that the Credit Union is owned and governed by our members with a Board of Directors rather than a select group of stock-holders. We invite you to read our Vision Statement to better understand our dreams of the future. We also invite you to read our Values Statement to learn more about the integrity and commitment of Charter Oak Federal Credit Union. We look forward to having the opportunity to serve you and your family, as we have been doing for over 60 years. Charter Oak is here to serve! Charter Oak Federal Credit Union is a financial services cooperative, owned and operated by its members. This is what distinguishes the Credit Union from other financial institutions. Members put their money in a variety of savings accounts, and that money, in turn, is lent to members. After operating expenses and reserve requirements are met, loan income is returned to all members in the form of dividends and comprehensive financial services.