Charter Change Update
The member voting period for Nutmeg State Financial Credit Union’s proposed change to a Federal Credit Union charter has officially concluded as of September 3 at 5:45 p.m. ET.
What You Need to Know
- Why is Nutmeg State FCU asking members to vote to become a federally chartered credit union? A federal charter will help Nutmeg work more efficiently and focus more resources on serving our members. The change happens behind the scenes and will not affect your accounts, services, or membership.
- What will change with my Nutmeg State FCU accounts if Nutmeg becomes a federally chartered credit union? Nothing will change with your accounts. Your account numbers, services, loans, cards, and online banking will stay the same. The proposed charter conversion is a business and regulatory change that happens behind the scenes and will not affect how you bank with Nutmeg.
Official Resolution
RESOLVED, that Nutmeg State Financial Credit Union be converted to a federal credit union chartered in accordance with the Federal Credit Union Act, and that operation under the laws of the State of Connecticut be discontinued.
RESOLVED FURTHER, that the Board of Directors and officers of this credit union are hereby authorized and directed to do all things necessary to effect and complete the conversion of this credit union from a state to a federally chartered credit union.
Frequently Asked Questions
✅ Your account numbers
✅ Your debit and credit cards
✅ Your checks
✅ Online and mobile banking access
✅ Branch locations and hours
✅ CO-OP ATM and Shared Branch network access
✅ Deposit insurance — federally insured by NCUA/NCUSIF
✅ Your membership rights
Moving to a federal charter will help Nutmeg work more efficiently behind the scenes. This allows us to focus more time and resources on serving our members and improving the products, services, and benefits we offer.
No. Nutmeg State Financial Credit Union is not closing, and we are not leaving Connecticut. We will continue to serve members through our branches, Navigation Center, and digital banking services just as we do today. This change will not affect your accounts, services, or membership.
Nutmeg State FCU is currently regulated by two agencies, the Connecticut Department of Banking and the National Credit Union Administration (NCUA). If approved, Nutmeg only be regulated by the NCUA. This change happens behind the scenes and will not affect your accounts or services.
No. This is not a merger. Nutmeg State FCU is not joining another credit union. Your accounts, services, and membership will stay the same. The changes are happening behind the scenes and will not affect your day-to-day banking experience.
There will be no impact to members.
No. You will continue to use your accounts, online banking, cards, and other services just as you do today. Nothing will change in your day-to-day banking experience.
No. Nutmeg State FCU member account numbers, routing numbers, checks, and cards will stay exactly the same.
Yes. Your deposits will continue to be federally insured by the National Credit Union Administration (NCUA), just as they are today.
If you are eligible to vote, instructions and ballots have been sent by mail or email. You can also vote online using the link in the “How to Vote” section above on this page. We encourage all eligible members to vote in favor of the proposed federal charter conversion. All votes must be submitted by September 3, 2026, at 5:45 PM EST.
Members will continue to see and use the name Nutmeg State Financial Credit Union, just as they do today. Our legal name will change to Nutmeg State Federal Credit Union, but this will not affect your accounts, services, or membership.
We're Here for You — Today and for the Future
We appreciate your continued trust and engagement as a member-owner. Your vote plays an important role in shaping Nutmeg’s future and ensuring we remain strong, efficient, and focused on serving you for years to come.
Questions?
Call (860) 513-5000 or email Memberservices@nutmegstatefcu.org