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About Us
From the President
As a group of almost 6,000 Americans who have joined a cooperative financial firm, you deserve to know how the credit union system performed in this recent "Great Recession."
Credit unions granted almost 20 million new or refinanced loans in 2010. This totla of $271 billion was an increase of 7% over 2009. More important, each loan was in the member's interest, providing savings of hundreds or thousands of dollars over the term of the borrowing. By contrast, year-end data for the banking industry shows the sharpest drop in lending since World War II-a decline of 7%.
Credit is central to the economic well-being of an individual, a community, and even the country. Loans empower. They enable individuals to buy a car, a home, or even attend college.
The Waterbury Telephone FCU cooperative system stood by its members in this recession. For 75 of the last 76 years the Credit Union has increased its loan portfolio-in good times and bad.
Thank you for supporting your Credit Union and thereby showing the country a cooperative way forward through this economic downturn.
Respectfully,
C. Peter Rietdyke — President
Main Office
2457 East Main Street
Waterbury, CT 06705
TOLL FREE 1-800-416-9725
Greater Waterbury Area (203) 755-2030
Fax: (203) 578-3079
Open 8:00am to 3:30pm
Monday - Friday
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