Charter Oak Credit Union
Quick Summary
- HSA savings account
The Verdict
Charter Oak Credit Union provides essential HSA features with zero monthly maintenance fees and basic savings functionality, earning a 0/5.0 rating from HSA Orbit.
The year was 1939, and in a shipyard in Groton 10 men gathered to chip in $25 each to create a lending institution to help their fellow workers. They put their hard-earned cash inside a shoebox, and they weren’t sure if they'd ever see that $25 investment again.
But they took that bold first step, and they called their proud new lending institution the Groton Shipbuilders Federal Credit Union – as a fitting tribute to their shipyard workers.
They may have begun with a small investment, but their dreams were big, and their vision even bigger.
Today, that $250 packed inside a shoebox has become a $1 billion-plus financial institution called Charter Oak Federal Credit Union – we’re eastern Connecticut's largest credit union and a leading financial institution in Connecticut. We offer full financial services – banking, investments, insurance and more – with a network of convenient branches located throughout eastern Connecticut.
We’re also a not-for-profit financial cooperative where each and every member can say he or she is also an owner. We return our earnings to our members through lower rates and fees on loans and higher yields on our deposits.
Key Features
Banking & Access
Basic account access provided.
Investment Options
This provider focuses on cash savings without investment options.
Security & Insurance
Deposits are FDIC/NCUA insured for your protection.
Account Details
No minimum balance to open. no account opening fees.
Fee Analysis
| Fee Type | This Provider | Industry Average | Verdict |
|---|---|---|---|
| Monthly Maintenance | $0.00 | $0.69 | EXCELLENT |
| Account Opening | $0.00 | $1.88 | EXCELLENT |
| Account Closing | $0.00 | $1.95 | EXCELLENT |
Industry averages calculated from 853 providers in the HSA Orbit database.
Investment Options
Savings-Only Account
Charter Oak Credit Union currently offers a savings-focused HSA without investment options. Your funds earn interest in a cash account.
Interest Rates
Standard Rates
| Balance Range | APY |
|---|---|
| $0+ | 1.50% |
Last updated: 03-25-2024
Contact Information
Address
Charter Oak Federal Credit Union 1055 Hartford Turnpike Waterford, CT 06385
Customer Service
At a Glance
Pros & Cons
The Good
- •No monthly maintenance fees
- •No account opening or closing fees
- •FDIC/NCUA insured deposits
The Bad
- •No investment options available
- •No online banking
- •No debit card included
User Sentiment
Based on community feedback
Sentiment data coming soon
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