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Our
History
Norfolk Community Federal Credit Union was chartered on August
11, 1953. We are a federally chartered and insured credit union.
A credit union is a not-for-profit, membership-owned financial
institution. Known for its strong consumer-orientation, a credit
union is organized to serve a community, a company or a
municipality. We began to serve the employees of the
correctional facilities in Norfolk. We have a community charter
and we support social and community programs to improve the
quality of life for everyone. We pride ourselves on personal
service and our belief that people are more important than
dollars.
A credit union
divides income between dividends to members and reserves to
build capital, which strengthens it in its members' behalf.
Unlike a bank, a credit union does not sell stock or borrow from
the Federal Reserve Bank in order to raise funds. It operates as
a not-for-profit cooperative, with a democratic structure, and
member ownership and control. Those founding principles of
American credit unions, which stretch back well into the 19th
century, remain today.
Mission Statement
Norfolk Community FCU is dedicated to providing competitive
financial products and superior service to our members through
sound business practices. The Credit Union movement is committed
to superior service to our membership. We divide income between
dividends to members and reserves to build capital, which
strengthens NCFCU in its members' behalf. NCFCU is known for our
strong member orientation.
Field of
Membership
The field of membership shall be limited to those having
the following common bond:
Our Original field of membership was persons residing or
regularly employed in Norfolk and within a five mile radius of
the Norfolk Post Office and also included are employees of this
credit union and members of their immediate families and
organizations of such persons. This charter seemed sufficient to
fulfill the needs of this small bedroom community whose
population at this time was just over 2000.
However as Norfolk grew and the demographics of the community
changed, then the credit union's focus was to grow to adapt to
the changing financial demands of the community. We moved to a
larger location in 1999 to accommodate our increasing office
traffic and in 2001 applied for, and were granted a change in
our field of membership to how it stands today.
Nowadays Norfolk
Community Federal Credit Union's field of membership shall be
limited to those having the following common bond - Persons who
live, work, worship or attend school in, and business and other
legal entities located in the following municipalities in
Massachusetts:
Bellingham, Foxboro, Franklin, Medfield, Medway, Millis,
Norfolk, Plainville, Walpole, Wrentham
Your membership extends to all of your family members. Once you
become a member you are a member for life, even if you change
jobs, move, or retire. We appreciate the opportunity to serve
you and will continue to evolve to accommodate the changing
needs of our members.
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