The Enfield Community Federal Credit Union was originally chartered on October 19, 1936, as the Bigelow-Sanford Employee’s Credit Union. The original field of membership consisted of the carpet mill’s employees. There were seven different department credit unions within the company. However in 1946, the seven credit unions were merged into one.
In 1971, when the Bigelow Sanford Carpet Mills moved south, the Credit Union was granted a community charter and an expanded field of membership. In 1980 the community charter was expanded to include anyone who lives, works or worships in the town of Enfield and their family members. In 2003 the members of the Enfield Federal Credit Union voted to merge with the Enfield Community Federal Credit Union. However, in 2015 our charter was, once again, expanded to include Hartford County and the towns of Somers, Stafford and Ellington.
We are proud of our history and the ability to offer a wide variety of financial services that meets the evolving needs of our ever expanding community.
The Enfield Community Federal Credit Union (ECFCU) practices the philosophy of “people helping people”. Our belief is to look out for our members’ interests and provide a level of service that is not generally available at other financial institutions. Whether it’s providing a loan to help a member cover unexpected medical bills, giving financial counseling to a member whose company closed its doors, or simply offering a better deal on a used car loan, ECFCU strives to make a difference in the lives of our members and in the communities we serve.
Field of Membership
Our credit union welcomes anyone who lives, works or worships in Hartford County or the towns of Somers, Stafford and Ellington along with their family members to join the Enfield Community Federal Credit Union.
Who is eligible to join?
Everyone in our field of membership is eligible to join the Enfield Community Federal Credit Union. To join, stop into our office and speak to a member of our friendly staff. Joining is easy! It only takes $20.00 to open a Share Savings Account.
For more information please call us at 860-253-5100 or email us at firstname.lastname@example.org.
What is a Credit Union?
Credit unions are financial institutions formed by an organized group of people with a common bond. Members of credit unions pool their assets to provide loans and other financial services to each other.
Credit unions differ from other banks in several ways:
|Credit Unions||Other Financial Institutions|
|Not-for-profit cooperatives||Owned by outside stockholders|
|Owned by members||Owned by outside stockholders|
|Operated by unpaid volunteer boards||Controlled by paid boards|
These factors allow credit unions to pay dividends to their members (not shareholders) and offer them lower loan rates, higher savings rates and fewer service fees.
The National Credit Union Administration (NCUA) is the federal agency that charters and supervises federal credit unions. They also insure savings in federal and most state-chartered credit unions across the country through the National Credit Union Share Insurance Fund (NCUSIF), a federal fund backed by the full faith and credit of the United States government.