Chamber of Commerce of Eastern Connecticut issued the following announcement on Aug. 14.
Charter Oak Federal Credit Union has earned the top 5-Star rating from BauerFinancial Inc. for its superior financial performance during the first quarter of 2019, which indicates that Charter Oak remains one of the strongest financial institutions in the nation.
“This top rating from BauerFinancial continues to recognize that Charter Oak is a safe, sound and very strong credit union,” said Brian A. Orenstein, Charter Oak’s President and Chief Executive Officer. “As eastern Connecticut’s leading financial institution, we’re honored to once again receive this top rating from a well-respected firm like BauerFinancial,” he said.
Charter Oak’s 5-Star rating is based on the credit union’s financial data as of March 31, 2019. 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, visit its website at www.BauerFinancial.com or call 800.388.6686.
Charter Oak is eastern Connecticut’s largest credit union with assets of $1.16 billion as of June 30, 2019. Charter Oak has an expansive and convenient 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 broad range of products and services, please visit any of our convenient branches, or visit our website at CharterOak.org, or call our Contact Center at 860.446.8085 or 800.962.3237. Federally insured by NCUA. Equal Housing Lender.
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