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About Central One Federal Credit Union

Unlike a bank, Central One is a Not-for-Profit financial institution. 

We are owned by our membership, and as such, the profits we make are reinvested into providing better rates, convenient technologies and world-class service. 

Founded in 1952 as an occupational-based credit union for employees of the New England Electric System, Central One Federal Credit Union has grown into one of the largest federal credit unions in Central Massachusetts. 

Central One became a federally chartered credit union in November of 1998. The charter change paved the way for enhanced products and services, branch expansion, assisting more members in our communities and increased support of local non-profits. 

Central One membership is open to anyone who lives, works, worships, attends school or owns a business in the following 25 communities: 

  • Auburn
  • Berlin
  • Bolton
  • Boylston
  • Clinton
  • Grafton
  • Harvard
  • Holden
  • Hopkinton
  • Lancaster
  • Leicester
  • Marlboro
  • Milford
  • Millbury
  • Northborough
  • Paxton
  • Princeton
  • Rutland
  • Shrewsbury
  • Southborough
  • Sterling
  • Upton
  • Westborough
  • West Boylston
  • Worcester


Immediate family members are also eligible to join Central One. 

Central One offers a full range of deposit and lending products with access through branches, extensive ATM networks, Members Support Center and the Internet.

As a full-service credit union, Central One offers all of the consumer and business products and technology innovations you'd expect from a larger national financial institution — but with local decision making and a focus on improving our members' lives. Our top priority is to provide you world-class service with great rates on all your financial products.



Meet the Board

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.

  • Roland G. Carlson, Chairman
  • James S. Chalke, Vice-Chairman
  • Jeffrey M. Pond, Secretary
  • Christine A. Baril
  • Robert H. McLaren
  • Diane L. Collins
  • Elaine Racine
  • Carl W. Masshardt
  • Anthony Pini


Associate Directors

  • Keith P. Early
  • Gregory J. O’Connor
  • Charles M. Giacoppe
  • Joshua P. LaPan


Supervisory Committee

The Supervisory Committee is the 'watchdog' of the credit union. This 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.

  • Gregory J. O'Connor, Chairman
  • Christine A. Baril
  • Thomas E. Davey
  • Michael J. Cavanaugh


Management