Fairfield County Federal Credit Union unveils new name

On Dec. 28, Fairfield County Federal Credit Union’s members voted in favor of changing their federally appointed charter to a state appointed charter. Credit unions select under which of these they wish to be organized. Federal and state charter regulations provide for slight differences in how they are allowed to conduct business.

Under their federal charter, Fairfield County Federal Credit Union had been prohibited from expanding their service area outside of Fairfield County. Earlier this year, the Board of Directors, chaired by Kathleen Perez, decided to pursue the feasibility of switching charters in order to allow for possible future expansion beyond Fairfield County. By moving to a state charter, the credit union will continue to allow membership to people who live, work, go to school or worship in Fairfield County.

To reflect the expanded service area, the credit union is now operating under the name of Cornerstone Community Credit Union.

Current members will see no immediate changes to their accounts, services or fees with this change. All shares will continue to be insured by the National Credit Union Share Insurance Fund (NCUSIF). Banks and savings institutions are similarly insured by the Federal Deposit Insurance Corporation (FDIC).

Established in 1943, Fairfield County Federal Credit Union, now Cornerstone Community Credit Union, provides a large variety of Share (checking), Share Savings Accounts, and Loan Products. Convenient services, such as Bill Payer, Direct Deposit, Online Mortgage Approval, Automated Teller Machines, Payroll Deduction, Loan by Phone and Home Banking make it easy to use the Credit Union wherever you are located. All people who live, work, worship or attend school in Fairfield and New Haven Counties are invited to join. The main office is located at 242 Hope Street, Stamford, CT 06906 and an additional branch is located at 1515 Black Rock Turnpike, Fairfield, CT 06825.

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