The Year so Far: A Report on Our 2019 Advancements

As I’m sure you know, one of our main goals at Nutmeg is to provide an exceptional banking experience for our members. With the midyear now behind us, I’d like to take a moment to discuss some of our developments in 2019 so far.

You probably saw us in the news when we opened our North Haven DMV Express location in December of last year. I’m very excited to report that since then, this location has seen great success with our custom banking technology and the convenient DMV license renewal process. In North Haven alone, we have opened over 400 new memberships and provided DMV services to over 6,800 CT residents with an average wait time of just ten minutes! We also recently celebrated the one-year anniversary of our Milford DMV Express location. I am proud to say that all operations at this location are going strong with over 700 new members and over 40,000 DMV Express customers since opening day! Both new and existing members are finding great convenience at these locations and we have received very positive feedback about the self-service technology and efficiency of banking there. The success of these new locations proves that we will continue to thrive and maintain a significant presence as we push the boundaries of what brick-and-mortar locations can be.

Another significant change this year was our Rocky Hill branch location move and redesign. In April, we moved this location from 521 Cromwell Ave across the street to 520 Cromwell Ave. With this transition, we also introduced more self-service options for our members with updated banking kiosks and tablets. Our tablets also include our recently improved New Member Application, which now works faster than ever and, as always, can be accessed online anytime, anywhere. All of these services come with our own custom technology designed to make your banking experience easier. I am confident that our electronic services will become even easier to use and that the Rocky Hill branch will be even more successful at its new location!

We also began a new partnership this year with Mortgage Markets CUSO. Mortgage Markets is a credit union service organization that specializes in providing innovative technology to seamlessly offer mortgage products. With this new partnership, our entire portfolio of mortgage products can be applied for faster than ever and at your own convenience with our online application process! Working with Mortgage Markets to improve your banking experience is just another step in the right direction for us as a credit union dedicated to providing excellent services with advanced technology.

As always, dedication to the community is central to our strategy as a Community Development Financial Institution (CDFI). This year we have already introduced new programs and services to benefit underserved communities. In February, we launched our Working Wheels Car Ownership Program designed specifically to help lower-income families purchase reliable vehicles. The success of this program also inspired us to go a step further and create the Rebound Checking account. This account allows members with negative banking history to enjoy the benefits of a standard checking account within safe limitations. With products like these, I believe we will continue to make a positive impact on families across the state.

This spring, we were also recognized by several organizations for our hard work and commitment to modernizing the financial services industry. In May, we accepted the award for Best Public Relations Marketing from the Credit Union League of Connecticut for the press coverage of our DMV location openings. The League additionally recognized us for our social media strategy and President’s Blog, which is available monthly here on the Nutmeg website. We were also recently voted Best Credit Union of 2019 in a public contest held by Hartford Magazine! I am thrilled that so many of you took the time to vote for us as your preferred financial services provider. As always, we are deeply committed to serving you and your family. Your continued support inspires us to do everything we can to provide the best banking experience possible.

I’m proud to say that even at just halfway through the year, we have already come so far. In the coming months and beyond, we will continue to be progressive with new service enhancements to make your banking experience easier than ever.

Sincerely,

John Holt
President & CEO