2015 ANNUAL REPORT

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Community Involvement
  • Workers Free Home Buyer Seminar

    5/24/17

    Buying a home at June 10, 2017

    Featured Speakers
    Steven Turbide - Senior Mortgage Originatore, Workers Credit Union Mortgage products with you in mind.
    Emma Franzeim - Licensed Realtor, Keller Williams Realty, Navigating the search for your new home.

    Our real estate expert will reveal key success factors including:

    • How to find and evaluate your ideal home.
    • Understanding negotionations and the home-buying process.
    • Financing options for every type of home and home-buyer....
    • Understanding credit and overcoming road blocks.

    Saturday, June 10th
    12-2pm
    Workers Credit Union
    452 Great Rd, Acton, MA

    Click here to register Here

     
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    The Discovery Museums to host member day

    5/10/17

    Workers Credit Union is partnering with The Discovery Museums to offer its members free admission on May 21.

    This is the second year in a row the community credit union has sponsored a member day. Founded in 1982, The Discovery Museums at 177 Main St. in Acton has a museum for children ages 0-6, and its Science Discovery Museum and Discovery Woods for all ages.

    To gain free access, Workers Credit Union members need to show one form of membership, which can include a Workers Credit Union: debit or credit card, statement, email message printed or on a smartphone, or a museum brochure with a Workers free-day sticker.

    Read more here

     
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    WORKERS CREDIT UNION TO ACQUIRE BRALEY WELLINGTON INSURANCE GROUP

    5/03/17

    In a move designed to further enhance its role as a trusted financial advisor, Workers Credit Union announced today its acquisition and partnership with one of Central Massachusetts' leading retail insurance agencies, the Braley Wellington Group.

    "At Workers Credit Union it is our mission to improve the daily lives of our members. After an extensive search, we could not be more pleased to have found Braley Wellington, a highly reputable firm with the expertise, cultural compatibility and a shared commitment to helping our members achieve long term financial success and security," said Doug Petersen, Workers Credit Union President and CEO.

    Commenting on the acquisition, Robert Lockett, President of Workers Financial Services. LLC. said, "Over 91,000 local residents already trust Workers with the core of their financial life – savings, investing, home mortgages, car loans and other personal credit. Adding direct insurance activities will significantly enhance our ability to provide comprehensive financial solutions to our existing membership and be a powerful tool to attract new members. I look forward to welcoming the talented team from Braley Wellington into our organization."

    Click here to read more

     
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    After Hours Business Networking Event

    4/25/17

    Westford– Grand Opening Celebration: 11 a.m.-noon April 25. Celebrate with new Chamber member, Insurance Center of New England Inc. as they officially open their Westford location, 303 Littleton Road, Unit 2. All are welcome to attend.

    After Hours Business Networking Event: 5:30-7 p.m. April 25. Come celebrate new Chamber member, A Spa For You, and their wonderful location, at 434 Littleton Road, Westford. Join area business professionals in making the connections so vital to your business and career. Event sponsor is Workers Credit Union.

    For more Information click here.

     
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  • Workers Credit Union is Expanding to Athol

    4/6/17

    Athol– Within the next few months, shoppers at the Athol Market Basket won't have to get cash back at the register if they want more of their money in their pocket.

    Work is nearly completed on a Workers Credit Union location in North Quabbin Commons off Route 2, according to WCU Chief Operating Officer Sandra Sagehorn-Elliott. The 2,000-square-foot space is expected to open in July or August. Sagehorn-Elliott said DeMoulas Super Markets Inc., which owns the shopping center, is finishing some of its own work on the space before the credit union adds some final touches.

    "We are really excited to open that branch. We've got about 4,500 members that live within 5 miles of that branch," she said. "That area of the state — from Gardner up to Orange — is one where we do really well. People respond really well to the credit union's message."

    Sagehorn-Elliott said this new location will be Workers Credit Union's 17th branch. Locations average 3,000 square feet in size, she said. There is also a location at 32 New Athol Road in Orange, having moved in 2008 from 12 North Main St., where the Quabbin Harvest food co-op now sits.

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    Workers Surpasses $1.5B in Assets

    4/1/17

    April 1, 2017 – At its annual meeting in Leominster on Thursday, the Fitchburg-based Workers Credit Union reported its assets grew 14.29 percent to $1.51 billion, the highest growth in credit unions across the state, it said. Because of its strong performance over the past couple of years, Workers has been able to reward its members by depositing $3.3 million into their accounts last month, a figure that was based on saving and loan balances in 2016.

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    Workers Credit Union Experiences Strong Growth Again

    3/28/17

    Leominster, Mass. (March 28, 2017)Doug Petersen, president and CEO or Workers Credit Union gives the President's Report at its annual meeting as Eric Shapiro, chairman, looks on– Workers Credit Union reported a strong 2016, with double-digit growth in total assets and loan volumes at its annual meeting, held Tuesday evening at the DoubleTree By Hilton Hotel.

    The community credit union reported that assets grew 14.29% to $1.51 billion, leading its credit union peers in the state in overall growth, according to Workers Credit Union's President and CEO Doug Petersen.

    "By having a singular focus on our members and delivering on our operating principal of banking that works, we continue to experience unprecedented growth," Petersen said. "Our only mission is to help our members achieve their financial goals, whether buying a home, preparing for college or saving for retirement."

    Petersen noted that because of its strong performance over the past several years, it has been able to reward its members for banking with the community credit union, by depositing $3.3 million into their accounts last month, based on saving and loan balances in 2016.

    Net loans grew 12.28% to $989.6 million. Petersen said strong demand for all types of consumer loans—real estate, auto and commercial—resulted in over 11,000 loans being closed for a total of $390 million.

    The robust loan volume resulted in a loan-to-share ratio of 108.45%. "Our primary mission when we were founded over 100 years ago—and it remains today—is to lend money to our members. For every dollar in deposits, we lent out $108," Petersen said.

    Total shares grew 13.79% to $989.6 million — the leading growth rate among Massachusetts credit unions.

    Return on assets was 1.16% — first among Massachusetts' credit unions. Members' equity grew to $163.3 million, representing 10.86% of assets. Petersen noted that Workers continues to maintain a members' equity ratio that far exceeds the regulatory minimum.

    Workers Credit Union, home of the $3.3M GiveBack program, is headquartered in Fitchburg, Mass. With assets of $1.5 billion, the credit union serves over 91,000 members from sixteen offices in Acton, Chelmsford, Fitchburg, Gardner, Groton, Lancaster, Leominster, Lunenburg, Orange, Townsend, Westford and Workers Online at workerscu.com.

     
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    Credit Unions team up for good in bed-building challenge

    3/28/17

    Marlborough, Mass. (March 28, 2017)– Nearly one in seven children in Massachusetts is growing up in poverty, without as much as a bed to call their own. To help address this issue, executives from eight Massachusetts credit unions and East Boston Savings Bank last Friday, March 24, squared off against each other to see which team could build the most beds for "A Bed for Every Child," an initiative of the Massachusetts Coalition for the Homeless. And although the credit unions prevailed 23 beds to the bank's 17, the real victors are the children.

    "The competition resulted in a lot of beds completed for the real winners in this challenge—the 40 children who will now have a bed to call their own," said Paul Marotta, chairman, Massachusetts Social Responsibility Committee, and Hanscom Federal Credit Union board chairman.

    Studies have shown that the lack of a good night sleep plays a negative role in a child's development and education. A Bed for Every Child helps children get a good night sleep by providing them with a complete bed—a twin mattress, bed frame, box spring, linens, and pillow.

    "What a wonderful opportunity to give back to the community," said David S. Plantier, president/CEO of MassMutual Federal Credit Union, who was joined by his wife Tracey and their dog Rigby at the high-energy event held at the coalition's Lynn, Mass. headquarters. "The event illuminated what the credit unions are all about-people helping people."

    Representing the Cooperative Credit Union Association (CCUA) member credit unions, in addition to Hanscom FCU and MassMutual FCU, were Jeanne D'Arc Credit Union, Metro Credit Union, Naveo Credit Union, RTN Federal Credit Union, St. Jean's Credit Union, and Workers Credit Union

    Read More here

     
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