Workers Credit Union - Banking in Massachusetts with Free Checking, Home Mortgages and Auto Loans

The need for banking services for the Finnish population of Fitchburg was first realized in 1911 by John Suominen, the business manager of Raivaaja. That same year he met with the State Banking Commissioner, Pierre Jay, to discuss those needs and to lay the groundwork for establishing a credit union. Soon thereafter, the original charter for Workers' Credit Union was drafted and submitted to the Massachusetts Banking Commission. The Workers' charter was approved in 1914. At that time, the bylaws of Workers' Credit Union, included the following terms; "Applications for membership must be made in writing, and each must bear the approval of a member of the board of directors....No director shall present the name of a person whom he cannot recommend as being honest, industrious and of good habits." John Suominen was elected as the first Manager, the position now known as President/CEO, of Workers' Credit Union. Franz Syrjala was elected the first President, currently the position now known as Chairman of the Board. The Credit Union originally occupied space alongside the Raivaaja Printing Company on Wallace Avenue in Fitchburg.
John Suominen	Franz Syrjala
Workers' Credit Union continues to grow... 1914 - Workers' founded at Wallace Avenue in Fitchburg 1970 - Workers' moves to Elm Street 1979 - Workers' moves to Main Street (current location) 1980 - Workers' acquires Gardner Municipal, Nichols and Stone and Orange CU 1982 - Cleghorn CU acquired 1984 - Gardner Polish-American CU acquired 1992 - Workers' acquires Atlantic Union College CU and Heritage CU 1992 - Townsend branch opens 1993 - Nashoba CU acquired, becoming Workers' Groton Branch 1994 - Leominster Branch opens (Twin City Plaza) 1997 - New Gardner office opens 1998 - Merger with Fitchburg Postal Employees CU 2003 - Acton Branch opens 2004 - Merger with Westford Municipal Employees CU 2005 - Merger with Chelmsford CU & Chelmsford Branch opens 2006 - Chelmsford High School branch opens 2006 - Mergers with Crobank CU and Peoples Community CU 2007 - The Peoples Community CU branch at Water Tower Plaza in Leominster merges with Workers' 2007 - Acton-Boxborough Regional High School branch opens 2008 - Leominster Walmart in-store branch opens Workers' info Headquarters - Fitchburg, MA 67,700+ - active members Assets - $800+ million Branches - 14 in Massachusetts 200+ - employees

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