MEMBERS BANK BETTER. GENERAL DYNAMICS ELECTRIC BOAT EMPLOYEES CAN BANK BETTER TOO!
At Charter Oak Federal Credit Union, we’re committed to convenience and service, which is why this webpage is dedicated to YOU with special offers and TWO branches located right near General Dynamics Electric Boat in New London and Groton! In addition to serving all your banking needs, we offer a full range of financial services including business and personal lending, investment and retirement planning, Health Savings Accounts and so much more! We invite you to join us and see why Members Bank Better with Charter Oak!
Take advantage of these great specials below!
☑ $475.00 Mortgage Application Fee Rebate*
*Application fee of $475, if applicable, will be rebated at closing to employees of General Dynamics Electric Boat. Proof of employment is required. Eligible properties include 1-4 family dwellings and approved condominiums in Connecticut and Rhode Island. Offer does not include the refinancing of existing Charter Oak mortgages. All other fees and closing costs apply. Offer may be withdrawn at any time.
☑ $50 Gas Card for a New Charter Oak Auto Loan**
**A pre-paid $50 gas card is provided to employees of General Dynamics Electric Boat who are Charter Oak Federal Credit Union members who finance a new or used car directly with Charter Oak Federal Credit Union. Proof of employment is required. This offer does not apply to the refinancing of an existing auto loan with Charter Oak Federal Credit Union. Application may be taken at any branch or by the Contact Center. All terms and conditions can change at any time.
☑ Accumulator Money Market Account***
Low balances pay higher dividends on Charter Oak’s Accumulator Money Market account designed for members looking to maximize their yield on smaller balances!
- 2.50% Annual Percentage Yield (APY)† on balances Up To $2,000.00
- 1.50% APY on balances $2,000.01 – $6,000.00
- 0.50% APY on balances $6,000.01 – $10,000.00
- 0.05% APY on balances over $10,000.00
- 0.05% APY Default APY on All Balances
***(†APY=Annual Percentage Yield) The Accumulator Money Market Account is a split rate tiered account and will earn the stated APY only for the account balance within each tier. To earn the stated APYs, you must have a GO Checking or SUN Checking Account with a month end balance of at least $100. Failure to meet this requirement will cause the account to earn the “Default APY” of 0.05% across all tiers. (Please visit CharterOak.org or call 860.446.8085 for GO Checking and SUN Checking Account information.) Limit of one Accumulator Money Market Account per Social Security or Tax Identification Number. The Accumulator Money Market Account is a variable rate account and the rates can change at any time. APY effective November 1, 2020.
☑ GO Checking****
Open a GO Checking with $750.00 monthly direct deposit****
- 3.00% Annual Percentage Yield (APY)*** on Balances Up To $10,000
- ATM Rebates
- No Monthly Maintenance Fee
- And more!
****(APY = Annual Percentage Yield) The GO Checking Account is a split rate tiered account. 3.00% APY is paid on balances up to $10,000. Balances over $10,000 earn 0.25% APY. The default APY of 0.05% will be applied to all tiered balances if account conditions are not met. All Charter Oak foreign ATM fees will be rebated. Surcharge fees charged by other financial institutions or networks will be rebated up to $9.99 each to a maximum of $20 a month and rebated at the end of the month. Rates are variable and can change at any time. Account limitations: To earn the stated APYs your account must have e-Statement,1 Online Banking and 10 Debit Card transactions posted per month (excluding ATM transactions) and have either Direct Deposit of $750 posted in each calendar month or have 4 unique “Bill Pays” cleared in each calendar month except for the month the account is opened. Failure to meet any one of these requirements during a calendar month will cause the account to earn the default APY of 0.05% on all tiered balances and ATM fees will not be rebated. APY effective November 1, 2020. This offer can be withdrawn at any time.
1You must complete the eDocument test drive in Online Banking to demonstrate your ability to access information in electronic format. If you fail to take the test drive, your account will earn the “Default APY” of 0.05% on all tiered balances and ATM fees will not be rebated.
☑ Gold Rewards – Our Unique Member Rewards Program*****
- Earn $100 Annual Cash Bonus
- No ATM Fees++
- Special Gold Rates
- And much more!
*****The “Gold Rewards” program is designed to benefit credit union members who maintain important account relationships at the credit union. Eligibility to receive “Gold Rewards” requires you meet the following criteria on a monthly basis: maintain a checking account AND maintain either a Direct Deposit of $1500 or more within the month, or have Bill Pay with a minimum of 4 unique payments posted within the month, and have a minimum combined deposit and loan balance of $20,000 or more. All qualifying accounts must be in good standing with no current delinquent loan accounts or charge off s to the credit union. Your accounts are reviewed monthly to determine eligibility for “Gold Rewards” and the rewards will be available in the following month. All qualifying accounts must be owned by the primary member and registered with the same Social Security number. Business accounts do not qualify for the “Gold Rewards” program.
Meeting these criteria on a monthly basis will earn the “Gold Rewards” Member periodic special share certificate offers; a 0.25% reduction on new personal loans (does not apply to the refinancing of existing loans at the credit union or new mortgages. To earn this 0.25% rate reduction, the member must qualify as a “Gold Rewards” Member at the time of application.); Bill Pay with no monthly fee; ++all Charter Oak foreign ATM fees will be rebated, surcharge fees charged by other financial institutions or networks will be rebated up to $9.99 each to a maximum of $20 a month and rebated at the end of the month; fees for financial institution to financial institution transfers out of your Charter Oak account will be rebated at the end of the month; Readi-Cash Too withdrawal transfer fee and overdraft transfer from share fee is waived; one free standard order of checks during a six month period (order must be placed at a branch or through the Contact Center); free Cashier’s Checks and Money Orders; and a $100 credit will be applied towards the closing costs of any new Charter Oak mortgage loan. (Does not apply to “Accelerator” or “Cost Saver” Mortgages or mortgage loans already financed at the credit union.)
In addition to the benefits listed above, each year a Special Bonus will be paid to “Gold Rewards” Members who meet the monthly criteria for “Gold Rewards” for 12 months beginning in January of each year. The Special Bonus will be determined annually and paid in December. The Special Bonus is considered interest and will be reported on IRS Form 1099-INT. “Gold Rewards” benefits can change without notice.
☑ Free Consultation with Charter Oak Retirement and Investment Services
Convenient General Dynamics Electric Boat Locations & ATMs:
- Electric Boat Branch
50 Pequot Avenue, New London
Hours: Mon/Wed/Fri 8:30am-4:30pm
- Groton Branch
32 Chicago Avenue, Groton
Lobby Hours: Mon-Fri 9am-5pm
Drive-Up Hours: Mon-Fri 9am-5pm
TWO 24-hour Walk-Up ATMs
Additional General Dynamics Electric Boat ATM Locations:
- EB Dock, Eastern Point Road, Groton
- EB High Rise, Building 88, Eastern Point Road, Groton
- EB Groton Engineering Building, 221 Eastern Point Road, Groton
- For a complete list of branch and ATM locations, please click here