Annual Meeting

59th Annual Meeting of the Common Trust Federal Credit Union

Common Trust Federal Credit Union held its 59 th Annual Meeting of the Membership 0n April 22, 2025, at its main office at 8 Cedar St. Woburn, MA 01801. Chairman of the Board, Harrison Condon could not be there so President/CEO James M. McCorkle presented the 2024 Annual Reports to the attendees,  embracing Common Trust Federal Credit Union’s legacy and focusing on the  strategic plans for the future of the credit union. Mr. McCorkle discussed the investment in innovative technologies while offering competitive loan and deposit rates and the upcoming merger of Wellesley Municipal Employees FCU into Common Trust at the end of August 2025. Mr. McCorkle also addressed the recent firings of two NCUA Board Members and how that could impact the credit union movement. Mr. McCorkle outlined that this is not the first time that NCUA operated with one board member but that it’s also ideal to have a full board of three.

“Our continued compassion and support for the needs of our employees and the community is what drives our institution,” stated President/CEO James McCorkle. “While few of us know what the rest of 2025 will bring, there is no doubt in my mind that Common Trust’s Credit Union’s dedication to our members and employees, and a commitment to the communities we serve will carry us into the future.” 

President McCorkle concluded the meeting by announcing that there was one open seat on the board and that there was only one willing to serve the three-year term. Since there was no need for a vote President McCorkle ask for and received a motion to accept Dieu Vu to fill the open three-year term, there was a second and with no further business President McCorkle brought the meeting to an end.

Please check back for our latest annual report and statement of financial condition. For questions, contact us.