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About Central One Federal Credit Union

Why Central One?


Deciding where you bank makes a difference. When you choose Central One, you choose to bank where you matter. We know that your priorities, goals, and circumstances are unique. It’s our mission to help you work toward a financially secure future, regardless of where you are on your personal journey, by providing the right banking products and financial guidance that fit you.

As a community-based credit union, serving our local communities has been fundamental to our mission since our founding in 1952. We live and work in these communities and understand the importance of contributing to the development and prosperity of our local businesses, organizations, and charities. That’s why Central One and our employees help foster the growth of our communities through donations, volunteering, and hands-on participation.

Whether you’re an individual looking to find a financial institution or a business owner looking for the products and guidance to help your business thrive, we’re here to help.


Become a member 

Becoming a member is as simple as opening an account at our credit union. If you live, work, worship, volunteer, own a business, or attend school in all of Worcester County and parts of Middlesex and Norfolk counties, you can become a member at Central One. Also included are family or household members of existing members and businesses or other legal entities in this area. For a list of towns we serve, click here.

As a not-for-profit, full-service financial institution, we reinvest our profits to provide higher savings interest rates, lower loan rates, and resources to help our members realize their goals.




2021 Field of Membership

Awards and Recognition

  • Voted Top Credit Union in Central Massachusetts by Worcester Telegram & Gazette: 2020, 2021, 2022 
  • Gold Trusted Service Award by Feefo 2021
  • Platinum Trusted Service Award by Feefo 2022

  • Voted Top Lender by Banker & Tradesman, 2021, 2022

  • Satisfaction Rating of over 98% for World Class Service



Our History

We’ve been proudly serving Massachusetts residents since our founding in 1952. Having been founded as an occupational-based credit union for the New England Electric System employees, our charter was changed to community-based in 1998. This change paved the way for enhanced products and services, an expanded field of membership, and an increased re-investment within our communities. Since then, we have become one of Central Massachusetts’ largest federal credit unions.





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.

  • Anthony Pini, Chairman
  • Jeffrey M. Pond, Vice Chairman
  • Charles M. Giacoppe, Secretary
  • Christine A. Baril
  • Stephen Caravella
  • Deborah J. Drew
  • Scott McCarthy
  • Thomas J. McCarthy
  • Robert H. McLaren