Central One was established in 1952 as an occupational-based credit union, serving the employees and family members of the New England Electric System and their affiliate companies. Central One Federal Credit Union was officially granted a community-based charter on November 19, 1998 by the National Credit Union Administration (NCUA). This conversion was formally adopted by the Board of Directors on November 21, 1998 and effective November 23, 1998.

Mission Statement

Central One's mission is to become our members' "Primary Financial Institution".

Philosophy

The Credit Union's philosophy is to "offer the highest quality products and services possible to both the Savers and the Borrowers of Central One Federal Credit Union".

Membership Eligibility
(effective January 21, 2003)

Qualifications for membership eligibility are as follows:

"persons who live, work, worship, go to school in, and business and legal entities in Auburn, Berlin, Bolton, Boylston, Clinton, Grafton, Harvard, Holden, Hopkinton, Lancaster, Leicester, Marlborough, Milford, Millbury, Northboro, Paxton, Princeton, Rutland, Shrewsbury, Southboro, Sterling, Upton, Westboro, West Boylston and Worcester".

Existing Membership

Family members or individuals living in the same household as an existing member are eligible to join the Credit Union. Family members can live anywhere in the world and still become a member of Central One.

Board of Directors

Our Board of Directors is made up of nine people who have been elected by the membership to serve. Each Board member volunteers their time to provide leadership and direction to the credit union.

Robert A. Zeveska, Chairman
James S. Chalke, Vice-Chairman
Jeffrey M. Pond, Secretary
Roland G. Carlson
Michael J. Cavanaugh
Diane L. Collins
Thomas E. Davey
Carl W. Masshardt
Robert Scarfo

The Supervisory Committee is the 'watchdog' of the credit union. The Committee plays a critical role in safeguarding the credit union's assets by ensuring adherence to established internal controls, ongoing examination of accounting records, transactions and loan documentation and overseeing the annual audit. The members of the Supervisory Committee are appointed by the Board of Directors.

Christine A. Baril, Chairperson
Elaine Kamyck-Racine
Gregory J. O'Connor