The charter application for the Waterbury Connecticut Teachers Federal Credit Union was signed on November 8, 1934. The application was subscribed to by seven Waterbury teachers.
The credit union was organized to serve any person employed as a teacher, supervisor or principal in the Waterbury public schools. With John M. Brophy as president, and James E. Moran as secretary, the 72 member Waterbury Connecticut Teachers Federal Credit Union began operations on December 6, 1934. The early founders and promoters of the credit union included Gerard McEvoy, Mary Kennedy, Mary Morris, Mary Clarkin, Aidan Donahue, Arthur Dowling, Lucy Shanahan, Thomas Nolan, Laura Stanton, William F. Moran and William B. Elwell.
By the second annual meeting of the credit union, membership had grown to 260, savings increased to $15,063.87, and loans totaled $8,811.00. The credit union continued to show steady growth over the next few years, and on June 28, 1938, at a special Board meeting, it was agreed that employees of the Naugatuck and Watertown school systems would be accepted as members.
Over the years, the credit union has experienced tremendous growth. Today the credit union serves public and parochial schools in 27 Connecticut towns, and is the largest teacher credit union in the state, with over 15,000 members and assets exceeding $200,000,000.
Today the Waterbury Connecticut Teachers Federal Credit Union serves teachers, administrators and other eligible public and parochial school personnel, and their families. Eligible employees in the following towns are invited to join the Waterbury Connecticut Teachers Federal Credit Union:
Beacon Falls, Bethany, Bethel, Bethlehem, Bridgewater, Brookfield, Danbury, Easton, Middlebury, Monroe, Naugatuck, New Fairfield, New Milford, Newtown, Oxford, Prospect, Redding, Ridgefield, Roxbury, Sherman, Southbury, Trumbull, Washington, Waterbury, Watertown, Wolcott, and Woodbury.
Also included are eligible employees of the Arch Bridge School, Beth El Synagogue of Waterbury, Chase Collegiate School, Cheshire Academy, Childrens Community School, Education Connection, Fraser Woods School, Hudson Montesorri School, Immaculate High School, Maimonides Academy of Western CT, Post University, Ridgefield Academy, Taft School, Washington Montessori School, Waterbury Campus of the UCONN, Wesley Learning Center, Westover School, Wooster School.