It’s one of the least-known, lowest-key, most quietly effective economic engines in town.
Very efficiently, since 1955, the Tri-Town Federal Credit Union has provided teachers in Westport, Weston and Wilton with less expensive loans — and more generous interest on CDs and savings accounts — than they could get from banks.
When it began, teachers were considered poor risks for loans because of their “part-time” employment. Today there are 2,200 Tri-Town members — teachers, municipal employees and their families — with over $18 million in assets.
Now — after more than 60 years in town — the credit union is expanding. They invite members of outside associations and organizations to join. And they’re not just limited to Westport, Weston and Wilton.
Eligible groups include alumni associations; religious organizations; electric cooperatives; homeowner associations; labor unions; scouting groups; PTAs; Chamber of Commerce members; athletic booster clubs; fraternal organizations; community service groups; national or ethnic origin cultural groups, and professional occupational organizations. Petitioning groups must align with the credit union’s “long-term strategic interest” — a very broad category.
The Electric Car Club has already signed up. They fit the criteria for many reasons — including the credit union’s support of environmental initiatives.
A while ago, Tri-Town installed 2 electric vehicle charging stations outside their headquarters in an old home on Jesup Green (next door to the Victorian house that once served as the superintendent of schools’ office).
The credit union also provides “green loans.” They offer 2% off their normal auto loan rates for any plug-in electric vehicle (including bikes and motorcycles), and 2% off normal personal loan rates for any home improvement project involving solar, thermal windows, insulation or energy-efficient appliances (up to $25,000).
“We’re in a historic site in Westport,” explains assistant manager John Coniglio. “We want to help people save money, using smart conservation.”
Coniglio — a 1966 Staples High School graduate — knows his town well.
“We offer all the services of a large bank. But we pride ourselves on personal service — just like an ‘old-town’ bank.”
One with hometown roots, but not afraid to change with the times.
(For more information — including applying as an organization to the Tri-Town Federal Credit Union — email firstname.lastname@example.org, or call 203-227-8511.)