Charter Oak and Quiet Corner Seek Merger

Charter Oak Federal Credit Union and Quiet Corner Community Credit Union, Inc. have filed an application for the merger of Quiet Corner operations into Groton-based Charter Oak. The merger 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 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 Chief Executive Officer. “It serves an important growth area for us, and its Putnam operations provide the perfect complement to our existing Windham County branches in Dayville and Willimantic.”
The proposed merger offers Quiet Corner members with access to Charter Oak’s extensive branch network in New London and Windham counties. It also provides 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., is located at 107 Providence Street in Putnam; it was established in 1955 and serves members within the Putnam, Thompson, Grosvenordale, Pomfret, and Woodstock areas with assets of $1.5 million and 611 members. Charter Oak, with assets of $764 million, already has a strong presence in Windham County, with more than 11,800 members.