Grand opening Monday for $18M Charter Oak headquarters

The new Charter Oak Federal Credit Union's headquarters on Route 85 in Waterford, shown here in the final stages of landscaping, will open Monday along with its branch there.

Waterford - Charter Oak Federal Credit Union has scheduled the grand opening of its new corporate headquarters and 14th branch office for 10 a.m. Monday, June 16.

The new $18 million office building with a distinctive curved roof just off Interstate 395 marks Charter Oak's move from its current headquarters on Chicago Avenue in Groton, where the 75-year-old financial institution had its start as the Groton Shipbuilders Federal Credit Union, closely associated with Electric Boat.

Gov. Dannel P. Malloy and U.S. Sen. Richard Blumenthal, D-Conn., are among the dignitaries expected for the event, according to Charter Oak.

"This new building reflects our strong commitment to eastern Connecticut," said Brian A. Orenstein, Charter Oak's chief executive officer, in a statement released Monday. "We're very proud of the fact that 85 percent of all the construction work was done by labor and contractors right here in eastern Connecticut,"

Charter Oak said the new branch office at 1055 Hartford Turnpike will create 10 new jobs in the region. The branch will open for the first time at 11 a.m. Monday.

The nearly 65,000-square-foot building features a 28-foot-high atrium, an expansive reception area and a 190-seat community room. Charter Oak, with assets of more than $800 million, is consolidating four offices totaling about 45,000 square feet into the new building, consolidating such groups as fraud and security, lending, marketing, information technology and recordkeeping all under one roof.

The new building will house about 110 employees, about 100 of whom will inhabit the headquarters' administrative offices.

The building's architect was Point One Architects of Old Lyme, with engineering services from CLA Engineers Inc. of Norwich and general contracting by Enterprise Builders of Newington.


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