Nutmeg State Federal Credit Union Opens on West Main St.
By Robin Vinci at May 11, 2024 | 5:18 pm | Print
Although Nutmeg State Federal Credit Union had a good following on Curtis St., many residents still did not realize it existed. On Wednesday the credit union held its grand opening at a highly visible 955 West Main St.
“In 2001 we merged with the Stanley Credit Union,” said Lisa Asadourian, vice president of marketing. “This is a better location. We were kind of off the street.”
According to John Holt, who was recently named President/CEO, there are 26,200 members of the credit union and growing.
“Our new location offers an ATM, three offices a lunchroom and a basement. We love it,” Holt said. “We are very happy to be part of New Britain. We support the community.”
Chamber President Bill Millerick said, Nutmeg is embarking in an enormous new direction.
“They are making it the kind of business they want it to be which is customer friendly first and foremost,” said Millerick.
Holt said the space and location will help service members well.
“We are committed to serving local communities by meeting their banking needs efficiently and as simply as possible,” added Holt. “We want to keep banking convenient for our members and invite new members to come learn the advantages of banking with a credit union. We are also proud of our New Britain team and know they look forward to continuing to serve our existing and future members as well as the community as a whole.”
Mayor Timothy Stewart recalled that the building used to be a bar called “The Stage Door Café”.
“It’s nice to see the re-use of this facility. You guys made a significant investment here in this property and I watched it develop over the last several months,” said Stewart. “I can’t thank you enough for the investment in the community you made. I think this is a wonderful use of this facility and location.”
In order to commemorate the opening of the branch, Nutmeg representatives randomly distributed discounted gasoline from a local gas station and gift cards to customers.
Nutmeg State Federal Credit Union is a member owned not-for-profit financial cooperative. As such they practice the philosophy of returning profits to members through rates, programs and services.
According to a press release from the credit union, “Our focus on customer service, plus a culture of fitting the member with the product that meets their individual needs, not the product that the credit union wants to “push” makes us unique. We strive to be a true financial safe haven for our members and the community (‘everyone’). Our reason for being and our Mission have not changed in 75 years. As we’ve grown we’ve added more and more services, and made them available to more people.
The credit union offices also stated, that Holt was chosen as CEO/President because of “a versatile combination of proven success with sales, service and operations management, as well as a history of maintaining financial strength, demonstrating a strong sense of business strategy, motivating change by building and guiding teams, and developing and implementing new products and services.”
Holt comes from a $500 million asset size credit union in Florida where he served as Executive Vice President. As the second highest ranking executive, with full responsibility for the credit union, including the ability to achieve corporate goals, maintain a high level of member and employee satisfaction, and strategic planning, he oversaw eleven branch offices, a call center, marketing, training, corporate services, lending and business development.
