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Quiet Corner
Credit Union,
Charter Oak
apply for
merger
PUTNAM — Charter Oak Federal Credit Union and Quiet Corner Community Credit Union, Inc. have filed an application with regulators for the merger of Quiet Corner’s operations into Charter Oak, which would provide Charter Oak with additional members, assets and growth opportunities in the upper portions of Windham County.
The proposed merger of the Putnam-based Quiet Corner credit union needs federal and state regulatory approval, as well as approval by Quiet Corner’s membership. The merger would create Charter Oak’s 13th branch in New London and Windham counties.
“Quiet Corner is a true community-focused credit union,” said Brian A. Orenstein, Charter Oak’s CEO. “It serves an important growth area for us, and its Putnam operations would provide the perfect complement to our existing Windham County branches in Dayville and Willimantic.”
The proposed merger would provide Quiet Corner members with access to Charter Oak’s extensive branch network in New London and Windham counties. It would also offer them a broader range of products and services, from long-term certificates of deposit, to debit and ATM cards, VISA cards, real estate loans, member business loans, electronic banking services, and investment and insurance services.
Audrey Lefevre, Quiet Corner’s manager/treasurer, would continue to lead Charter Oak’s new operations at the Putnam branch.
Quiet Corner Community Credit Union, Inc., 107 Providence St., was established in 1955 and serves members within the Putnam, Thompson, Grosvenordale, Pomfret and Woodstock areas. It has assets of $1.5 million and serves 611 members. Charter Oak, with assets of $764 million, already has a strong presence in Windham County, with more than 11,800 members.