Charter Oak Federal Credit Union


1055 Hartford Tpke
Waterford, CT 06385
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.05% 2.55% →
1-Year CD 0.40% 2.85% →
2-Year CD 0.70% 3.20% →
5-Year CD 0.90% 3.65% →
30-Year Mortgage N.A. 6.31% →
15-Year Mortgage N.A. 5.86% →
HELOC N.A. 2.79% →

2022 Overview

General Credit Union Information

Charter Oak is an NCUA insured institution located in Waterford, CT. It was founded in 1939 and has approximately $1571.08 millions in assets.

Who Can Join?

Charter Oak is a community credit union. Membership is open to anyone who lives, works, goes to school, volunteers, or worships in all cities and towns in New London County and Windham County, Connecticut.

Membership also extends to immediate family or household members as well as businesses and other legal entities.

NCUA Insured Yes / Federally Chartered
Charter Number # # 3413
Date Established 1939
Assets $1,571.08 million
Loans $883.90 million
Deposits $1,420.48 million
Capital $141.62 million

Field of Membership Restrictions

Membership in Charter Oak Federal Credit Union is open to those who live, work, attend school, volunteer, or worship in New London and Windham Counties in Connecticut.

Deposit Rates - August 19, 2022

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates (Share Account Rates) APY MIN MAX
Money Market
0.05% $2,500 $2,999 Learn More
Money Market
0.10% $10,000 $14,999 Learn More
Money Market
0.10% $25,000 $29,999 Learn More
Premium Money Market Account
0.05% $10,000 $14,999 Learn More
Premium Money Market Account
0.05% $25,000 $34,999 Learn More
CD Rates (Share Certificate Rates) APY MIN MAX
6 Mo CD
0.30% $1,000 - Learn More
12 Mo CD
0.40% $1,000 - Learn More
24 Mo CD
0.70% $1,000 - Learn More
36 Mo CD
0.90% $1,000 - Learn More
48 Mo CD
0.90% $1,000 - Learn More
60 Mo CD
0.90% $1,000 - Learn More
Variable IRA Rates APY MIN MAX
0.05% $1 $499 Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.05% $2,500 $3,499 Learn MoreShow Less

Loan Rates - August 19, 2022

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for CHARTER OAK

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:

Featured - Virginia 30 Year Fixed Mortgage Rates 2022

Lender APR Rate (%) Points Fees Monthly
Learn More
NMLS ID: 2890
License#: MC-3098
4.955% 4.875% 0.50 $2,302 $1,324 Learn More
Morty, Inc.
NMLS ID: 1429243
4.808% 4.750% 0.63 $1,680 $1,305 Learn More
First Citizens Bank
NMLS ID: 503941
5.327% 5.250% 0.88 $2,162 $1,381 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2022

Lender APR (%)? Monthly Payment? Learn More
Bethpage Federal Credit Union
Bethpage Federal Credit Union
See Table
Intro APR
4.990 %
After Intro: 6.000 %
Intro Period: 12 months
$25,000 Learn More
More Info

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Below are Charter Oak branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:

Charter Oak Locations

Climate Initiatives

CHARTER OAK is encouraged to provide us with this information. When we receive this information from the credit union, we will provide it here.

Financial Details

Charter Oak Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Charter Oak. The data is provided by the NCUA. All credit unions on BestCashCow, except those specified as not NCUA-insured in the overview section above, are NCUA-insured. Depositors should be careful to remain within NCUA insurance limits.

Texas Ratio
Charter Oak U.S. Average
2.72% 4.75

The Texas Ratio compares the amount of loans at risk and assets repossessed with the amount a credit union has on hand to cover any losses. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a credit union has to absorb its loan losses.

As of March 31, 2022, Charter Oak had $4,046,755 in non-current loans and $10,977 in owned assets. To cover these potential losses it had $141,615,956 in net worth and $7,566,227 in loans loss reserves. That gives it a Texas Ratio of 2.72%.

Net Worth
Charter Oak U.S. Average
9.01% 12.28%

Charter Oak FCU has a net worth of 9.01% versus the BestCashCow average of 12.28. Net worth measures how much total assets exceed total liabilities. The higher the net worth number the more secure a credit union is considered.

Customer Reviews for CHARTER OAK

  • January 25, 2022 |

    I joined the Niantic Branch in mid-2019. Initially I had good experiences with the Branch. Unfortunately post covid i have watched the branch's service window narrow.
    Lobby hours have been cut and Saturday hours have been eliminated at this branch. The 1990s era atm machines are so antiquated that we are unable to deposit checks and cash directly, but have to deposit them in an envelope and then wait until an employee opens them at a later date and inputs them manually. This can mean days before the customer has access to their cash deposit.

    In addition the online banking system is at best wonky. I registered a trip to Europe with the online banking system - so that I could insure access to funds while I was aboard. While in Europe my card was declined EVERY time I attempted to use it despite registering my trip with the bank. Luckily my other credit and bank cards did not have this issue.

    The final straw - the Online Check submission system caused a 10 day delay on a check from a household brand name Financial Services Company. Thinking this must be a mistake i visited branch in person to obtain help in this matter. Rather than attempting to help me with the problem caused by their faulty system - I was treated as a nuisance - dismissed by the incredibly rude manager who would not bother to speak with me nor even look at me or acknowledge my issue.

    I then visited the main branch of the COFCU and spoke with management there. They addressed my issue an were able to effect a solution within a few minutes.

    I was a big fan of Charter Oak Federal Credit union, but unfortunately the rude and neglectful service I experienced from the "manager" of my local branch has driven me to bank elsewhere.

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