Woburn-MFCU, Author at Common Trust FCU

Rent, Buy, Refinance: 5 Questions to Guide Your Decision

Buying a home can be an exciting milestone in your life, and it’s important to educate yourself on the financial implications of homeownership before you make an offer. Whether you’re a first-time homebuyer or a current owner looking to sell or refinance, there are a few key questions that should help guide your decision:

1. What are the pros and cons of owning vs. renting? 

Owning a home is a long-term commitment. Recent studies show that the average buyer expects to live in their new home for 13 years before selling. While homeownership allows you to build equity and take advantage of tax benefits, owning also comes with risks.Educate yourself on the costs and benefits of owning a home before you make an offer.

2. Am I ready for the responsibilities of homeownership? 

While property is generally considered an appreciating asset, home values are tied to economic conditions. Having your financial house in order is an important first step to buying a house! Are you confident in your ability to pay your bills on time? Are you able to budget for unanticipated costs? Evaluate questions like these to determine whether you are ready for the responsibilities of ownership.

3. How much home can I afford? 

Determining how much home you can actually afford goes beyond the list price of a property. Other factors that will affect your monthly payment include interest rates, taxes, insurance, income, debt, and future monthly expenses – to name just a few. While there are numerous “affordability” calculators out there, it’s important to first understand the whole picture. 

Before you buy, take action to determine how much home you can afford.

4. How will lenders evaluate my mortgage readiness & make loan decisions? 

Are you familiar with the “Four C’s of Loan Credit?” Lenders look at a number of factors to determine the terms of a mortgage loan.

Consider reviewing your financial history and educating yourself on the qualifications that lenders use to determine the terms of your loan.

5. How will my credit score impact my ability to buy? 

Your credit score and the information in your credit report are key factors in whether or not you’ll be approved for a mortgage and at what interest rate. When was the last time you checked your credit? Learn more about your credit, as well as steps you can take to build strong credit here.

No matter what stage of homeownership you are exploring, expanding your knowledge about the key financial questions to ask when buying a home will help you make a long-term decision that benefits you!

You can view all homeownership related content in Common Trust’s Financial Education Centeror check out our list of online calculators to get you started.

Is a Home Equity Loan Right for You?


A new year means new goals, adventures, and purchases. Are you financially prepared and in good standing to follow through with your dreams? Whether you’re looking to make big home improvements, pay off debt, fund a loved one’s education or simply have extra cash for a special project, a home equity loan could be the right solution for you to quickly get you the funds you need. But before we launch into what defines a “good” home equity loan and how to get one, let’s get started with the basics of this source of financial backing.

What’s a Home Equity Loan?

Similar to the first mortgage you used to initially purchase your home, a home equity loan is a second mortgage on your home. With this type of loan, you’re borrowing money against the value of your home without any of your unpaid balances. The terms will vary depending on promotion, company, and creditworthiness. Some will have fixed rates, whereas some may have variable rates based upon U.S. economic trends. Some may also have numerous other fees attached—something to look out for. 

How much will the loan be for?

The maximum home equity loan you’ll be eligible for would be the total value of your home minus any outstanding balances. Depending on which bank or credit union you decide to pursue the loan through, home equity loan values can vary. At Common Trust, your loan can be approved for up to Eighty Percent (80% LTV) of the appraised value of the real estate, minus First Mortgage balance before minimum dollar amount. Loan-to-Value amount is the ratio the bank will allow you to be approved for (ex. 80% LTV of a total value of $100,000 would be an $80,000 loan). The minimum loan value is $10,000 and the maximum dollar amount is $300,000. Imagine what you could do with such spending power! The possibilities are endless.

A simple equation for use in determining the Home Equity Loan you’re eligible for: 

[(Appraised Value of Home) – (Outstanding Balances)] × (LTV%) = Total Loan Value

Is a home equity loan a good idea?

Home equity loans are a great way to access funds that you need to do the things you love. If you are in good financial standing and have a good grip on managing your finances in general, you’ll surely reap the benefits of a Home Equity Loan without any negative drawbacks. If you find yourself struggling to manage your budgeting and always stress about finances, a home equity loan may not be the right choice for you. 

Are there any cons?

As with any financial investment, if you aren’t responsible you may find yourself in deep waters relatively quickly. It’s important to understand your financial standing and whether or not you can afford to take out such a loan. Be sure to confirm all interest rates before signing off on the loan to prevent any surprise fees, and never be afraid to ask as many questions as you need to finalize your decision. This is likely one of the biggest loans you’ll take out, so make sure it’s the right choice. 

There are a few other very notable disadvantages to a Home Equity Loan if used frivolously, however. Keep in mind that your home is being used as collateral to back this loan, so if there are any instances where you can’t make payments they can technically take possession of your property. Since your loan is based on the equity of your home, which can decrease in value depending upon economic trends, you may end up owing more money on your home than it’s actually worth if there’s a serious drop in appraised value. This is commonly known as being “underwater” or “upside-down”. Though these drawbacks can easily be prevented with more research on your loan terms and home value, they are still important to consider when investing in this type of loan. 

Think a Home Equity Loan could be right for you? We have good news! Until March 31, 2020, Common Trust is proud to be offering our 10 Year Home Equity Loan promotion. With competitive rates as low as 4.99*, you can get access to the funds you need and pursue the opportunity you’ve been waiting for. Take advantage of our low rates while you can—give us a ring or reach out via email today!

*Actual rate is subject to creditworthiness

Get Your Financial House in Order This New Year

As the New Year begins, it’s time to start thinking outside the box. This spirit of Resolutions’ applies to more than just going to the gym!  The new year is an ideal time to dust off your finances and set up your budget. Maybe your upcoming tax returns have motivated you to increase your emergency savings for the year ahead, or perhaps one of the New Year’s resolutions you made was to improve your credit score? Whatever your situation, now is the perfect time to get your financial house in order. These four strategies can help you get your personal finances in check and maintain a strong foundation for the rest of the year.

1) Clean Up Your Credit

Your credit score can have one of the biggest impacts on your financial life – so don’t let it collect dust! Did you know you can check your credit score for free with each of the three credit bureaus? Staggering your requests every four months allows you to keep a regular eye on your credit report. Once you know your score, you can set goals to continue to improve your responsible credit habits. 

2) Pay Your Bills On-Time

In today’s digital age, there are various mobile payment options available to help you to get ahead of your bills. Set up online banking and use automatic bill pay to save yourself the hassle of mailing checks and protect against the costs of missing a deadline. Additionally, many retailers, banks, and credit unions allow you to pay your bills in real-time via mobile payment technology.

3) Protect Your Accounts

With the prevalence of digital transactions, it’s important to protect yourself from consumer fraud and identity theft. In fact, nearly 3 million consumers reported fraud in 2018 alone. Regularly checking your credit score (see #1) for errors and unauthorized transactions is one simple strategy to protect your identity. Make it a priority to refresh the tactics you use to keep your identity safe this spring:

4) Save for a Rainy Day

Rainy day funds protect against more than the weather. Did you know that 78% of Americans do not have enough savings to cover unforeseen expenses? Saving doesn’t have to be hard, although it does take discipline. Small adjustments in your daily routine can make a big difference in your ability to cover emergency costs or meet a payment due date. In addition, many savings vehicles will pay you interest on the money you have deposited, which will help your money grow over time. Commit to creating new savings habits to help yourself be better prepared.

No matter where you start your financial Spring cleaning, incorporating these tips and tactics into your routine will give your personal finances a fresh start.

Check out our full suite of online personal finance education resources in our Common Trust Federal Credit Union Financial Education Center, which can be found at www.commontrustfcu.org .

5 Steps to a Debt-Free 2020

The holiday season is a great time to buy sentimental gifts for all of your family and friends. Unfortunately, this also means spending much more than you typically do during the rest of the year. After the holidays are over, you can be left with a lot of debt. With 2020 in full stride, has your debt got you down? Here are 5 steps to a debt-free future.

1. Minimize Your Spending

When debt is growing each day from high-interest rates leading to even higher balances, it can become a serious hindrance to your mental health. Try to minimize spending during this time of repayment. The more you add on to your principal balance, the more money you’ll end up having to pay in the long run. Only buy the things you need, like groceries, gas, utilities, and bills of course. If needed, try to stay away from any stores or places that may lead you to splurge. Don’t highly restrict yourself, but don’t spend frivolously either.

2. Take Advantage of a Low-Interest Loan

If your debt is getting out of hand, it may be time to consider paying it off with a lower-interest loan in order to prevent tacked-on interest payments. Since most credit cards usually rest around a 20% APR interest rate, that’s a lot to save over time. Act quickly when you realize the interest rate on your credit card is starting to rack up, and start searching for a debt payoff loan that works best for your needs. Either way, you’ll likely be paying around 10% less on a loan than in credit card fees.

3. Credit Balance Transfers Are Your Best Friend

Another quick alternative to lessen the blow of built-up debt is a Credit Card Balance Transfer. Similar in savings to a loan, this is when you transfer your higher-interest balances onto a lower-interest credit card and pay a lower rate until your balances are paid off. Over time, this solution will save you loads of money and help you make more payments on your principal balance rather than mountains of accumulating interest.

4. Save, Save, Save!

In this instance, you may not have been prepared for the oncoming holiday debt. Make it a New Year’s resolution to start saving more in preparation for big spending. It’s nice to not think about your funds when continuously swiping your credit card, but it’s even nicer to have a large nest-egg to fall back on when you’re in need. 

Open multiple savings accounts to track these goals and save up enough to shower your friends and family with the gifts they deserve. The incentive for planning ahead is a higher interest rate, meaning you’ll have even more money when the terms are up. Select the type of account that works best for you, and start stockpiling those pennies! With this easy step, you’ll be ready for any financial hardships or random splurging. 

5. Steer Clear of Future Debt

We understand how hard it is to stay out of future debt. It’s easy to grab a whole new wardrobe while scouring the racks of Nordstrom, or a funky piece of furniture at that cute antique shop on the corner. Try to build the habit of saying “no” as you move into the new year. 

If you absolutely must buy that thing, make sure you have a reputable and low-interest credit card at your side. And if you find yourself in another financial sinkhole, don’t hesitate to pay off debt with lower-interest loans before the interest starts accumulating. If you have a hard time staying true to your spending limits, try constructing a budget and sticking to it. Staying out of debt will have a long-term benefit on both your credit report and score.

Holiday debt lingering a little longer than intended? It’s time to find a solution. Our team is highly knowledgeable in financial planning and can help you get back on track. With low-interest rates and a wide variety of flexible products, a better financial future is right around the corner. Don’t let the pressure of debt bring you down – give us a ring or reach out via email today!

Congratulations to DECA at WMHS as They Continue to Thrive!

We would love to extend a heartfelt congratulations to the DECA Club at Woburn Memorial High School for continuing to thrive into their second year!

The program just started up last year, and a whopping 15 out of the total 60 students went on to compete in state competition. The DECA program provides real-world experience to shape the minds of future entrepreneurs and emerging leaders in marketing, finance, hospitality, and so much more. College and high school students alike are welcome to participate in such a revolutionary organization.

Common Trust Federal Credit Union is proud to support such a successful team of hardworking individuals. We wish them the best of luck in the new year as they conquer many more competitions.

Congratulations to DECA at WMHS as They Continue to Thrive!

Why You Should Have Two (or More) Savings Accounts

Having multiple savings accounts isn’t just for financially irresponsible kids and young adults, they’re actually the perfect solution to your financial goals. Having multiple accounts means that you can allocate your income to different places and potentially even get higher interest rates for doing so. You can also monitor each specific goal through its designated account—so long, late nights calculating percentages and writing up algorithms! Ultimately, having multiple accounts allows you to save for specific financial goals, providing you with the springboard to achieve financial success faster. 

3 Reasons To Have Multiple Accounts

  1. As mentioned briefly above, having multiple accounts is a launching point for you to achieve financial success. By having separate accounts, you can see real progress happening each week, and devise new ways to save even more. With the simplicity of mobile banking, saving more money is easier than ever and tracking your progress is a breeze.

  2. Each different savings account likely has a different rate of interest. This is where the research comes in: many accounts, like a CD, will give you higher interest rates for stowing your money away and not touching it for a few months. Having multiple accounts can yield a higher amount of accumulated interest, further growing your pre-existing savings bundle. It’s important to learn the terms of any account before opening it, however, be aware of any and all surprise fees or limits!

  3. Segmenting your goals into separate accounts gives you the ease of prioritizing which objectives need a little more TLC. You can monitor the progress of each account via online or mobile banking, and make the decision of how you want to distribute your savings. Let’s say you’re saving for both a car and holiday purchases. Naturally, since the holidays are fast-approaching, you may want to transfer a higher percentage of funds to your holiday account. Ultimately, having separate accounts allows you to quickly and easily set up a budgeting system and stick to it.

A Good Strategy: Set up Automated Payments

From credit cards to debit cards, and all the bills in-between, automated payments should become your best friend in the financial world. The perk of using this nifty tool is that you never have to think about making your payments or transfers each month. This financial responsibility can also help further improve your credit score and report, saving you even more money in the long run. 

What to Watch Out For

  • Fees. The last thing you want when you’re trying to save money is for a huge chunk of change to be removed as soon as your money goes into the account. And you certainly don’t want to be blindsided when you haven’t done your proper research. Check in with your credit union to see if they bill you for things like transactions and overdrafting, and what accounts will help keep fees to a minimum. There’s no one-size-fits-all to savings accounts. Remember: this account should help you save up for future goals, not give you unnecessary anxiety.
  • Transfer Limits. There’s nothing worse than needing to transfer money out of your savings account for an unplanned event, but finding out you’ve hit your limit on transfers for the month. You then have to make a choice: forgo the cash or pay an unfortunate fee. Beware of Transfer Limits that only let you transfer money out of your savings account a certain number of times. Typically the limit is six transfers per month on certain withdrawals and transfers according to Regulation D from the Federal Reserve. If you feel like you the limits won’t be a problem for you (especially if you’re fulfilling a strict financial goal), then dive right in. But if you have a doubt in your mind, an account with stern transfer limits may not be the right fit. Regardless, be sure to discuss potential transfer limits with a banking consultant before signing off. 

Saving up for a special purchase? Want to put money away for your long-term plans? Try opening a second account. At Common Trust, we have so many ways including our Holiday Clubs, certificates, and various tailored savings and credit accounts. Your purchase could be right around the corner – give us a ring or reach out via email today!

Risk or Responsible: Your Quick Guide to Credit Reports & Scores

 In the tumultuous world of finances, different numbers and scores can start to blend together into one confusing blob. Thankfully, there is a bounty of helpful guides and articles to help you differentiate between contrasting numbers and their meanings. In this week’s blog, we’ll discuss the main differences between Credit Reports and Credit Scores—and how to maintain them. 

While the words “Credit Report” and “Credit Score” are sometimes used interchangeably, there is one main difference between the two.

Your Credit Score illustrates how much of a credit risk you are to lenders. It is a numerical value most commonly scored between the ranges of 300 and 850 (we’ll delve deeper into what constitutes a “great” score a little later).

Your Credit Report is a record of your credit and lending history. This includes payments, debts, number and types of accounts you’ve had, and so much more.

Why Should I Maintain Them?

If the chance to be labeled “excellent” on your credit score isn’t incentive enough, it’s important to note that having a score above 700 usually leads to lower interest rates and more member perks. Having a good credit score isn’t just a financial title. It can help save you hundreds of thousands of dollars over your lifetime. You won’t be hit with high-interest rates and can negotiate loan terms more freely. Plus, having a great credit score can instantly make you eligible for bigger loans and higher credit limits, ensuring that you never have to cough up the full payment amount for any big purchases. You’ll automatically get better rates when signing up for things like insurance, and approval for apartments or leases will be a breeze.

Do I Need to Look at Both?

The short answer—yes! It’s important to stay up-to-date on both your credit report and credit score. Doing so will allow you to know how lenders will assess your financial responsibility before approving or denying things like loan requests or opening a new credit card. Sites and apps like Credit Karma provide free access to your credit score and will send you copies of your credit report upon request. You can check as often as you need, or want, and it won’t negatively impact your score. Conversely, if you are trying to raise your credit score, monitoring your credit report will allow you to see what may be impacting it and how to take preventative measures in the future. 

It is important to note that checking both your credit score and credit report regularly can help prevent fraud. Always be sure to analyze for anything that looks faulty or incorrect, and if anything seems out of place always reach out for further information. Your credit score is one of the most important things you have in your possession and can make or break anything from purchasing a pair of boots to purchasing your first home. 

What Is Used to Calculate Your Credit Score?

This aspect of credit is where both credit scores and credit reports cross paths. There are a few main aspects of your credit report that impact how your numerical credit score is calculated. Although it is important to note that each credit-reporting system utilizes their own unique formula to calculate your score, generally it is made up of the following:

  1. Payment history accounts for 35% of your credit score. If you have not historically made your credit card or loan payments on time, your score will naturally go down.

    Tip: To keep your score in tip-top shape, you should make a point to schedule all payments before the due date. Doing so will also save you money – say good-bye to accumulating more and more debt via hefty interest rates!
  2. How much you owe on your accounts makes up 30% of your credit score. Especially if you don’t make payments on time, you may see a dip if you continuously rack up debt on your open accounts. Do you really need those sparkly heels?

    Tip: Try to avoid accumulating too much debt on credit cards or loans at any time.
  3. Length of credit history accounts for 15% of your credit score. The longer, the better. This portion illustrates that you have been financially responsible for longer, and are more-likely-than-not going to continue making payments on time and are thus less of a risk.

    Tip: Even if you haven’t used your high school credit card in years, keeping it open can help lengthen your credit history. 
  4. Opening new cards is a significant factor in the equation. In fact, 10% of your score is based on new credit, and how many accounts you have opened recently.

    Tip: even if a $100 best buy gift card or low APR is at stake, don’t open too many new credit cards at once. Not only are they hard inquiries, but doing so categorizes you as a credit risk and can quickly lower your score. 
  5. Multiple lines of credit and being able to maintain them can positively impact your score by illustrating that you are financially responsible. 10% of your credit score is based on existing lines of credit. Do you have a variety of accounts? Do you have multiple accounts?

    Tip: explore ways to maintain multiple lines of credit (without opening a bunch of credit cards at once). Successfully managing multiple accountscar loans, credit cards, school loans—can yield major positive dividends for your score.

Keeping the above factors in good standing is crucial to maintaining your credit score. Don’t fret if you have an off-month, though. One missed payment won’t completely diminish your score. And if you happen to have a few mishaps, you’ll be relieved to know that they do eventually fall off your report. Just keep making on-time payments and maintaining your credit lines—eventually, your score will fully recuperate!

What’s a “Good” Score?

Your FICO® credit score falls into five general categories:

  • BAD: 300 – 560
  • POOR: 560 – 650
  • FAIR: 650 – 700
  • GOOD: 700 – 750
  • EXCELLENT: 750 – 850

Not instantly listed as “Excellent” or even “Good”? Not to worry.  Over time, as long as you keep up with your payments, your score is sure to pick up.

Got Credit Q’s? Looking to open a new line of credit? Have questions about your credit score, report, or just need some quick credit advice?  We’re here to help. At Common Trust, we thrive on helping our members successfully manage their credit in every way, from HELOCs to car loans to credit cards and everything in between. Give us a call today or shoot us a message and we’d be happy to chat. We look forward to hearing from you!

Apply for Our Board!

Common Trust Federal Credit Union is seeking new leaders from the membership for our Board of Directors!

Our Board of Directors is democratically elected by the credit union and is responsible for establishing loan and savings policies and directing all affairs of the credit union. Serving on our board of directors is a great opportunity to help guide the credit union and be a voice for the membership.

The seats open are as follows:

  • Four (4) seats open for re-election
  • Three (3) seats open for a term of 3 years
  • One (1) seat open for a term of 1 year

If you or someone you know would make a good fit, visit our office to pick up the application or click the link below to download. Completed applications will be accepted from now until December 15th, 2019.

BOD Intent Form for Nomination 

BOD Certification Form

When to Use a Credit Card vs. Debit Card

Most people have at least one debit card and one credit card in their wallet. Although both cards can be used in many of the same places, it can be difficult to determine which card is best for each transaction. When you use your credit card, you may earn points, but your debit card won’t charge you interest. Which do you choose? Here are some tips to help you decide.

3 Major Differences Between Credit & Debit Cards

Where the Money Comes From
A debit card is backed by the money in your checking account. You can only spend what you already have. When you use your debit card it’s like using cash because you must have funds available in your account or the transaction will not go through. With a credit card, you have a pre-approved spending limit and you can use the card repeatedly until you reach that limit, regardless of how much money is in your bank account. Of course, you will have to pay that money back eventually. It’s like you’re making a promise or taking out a small loan every time you use a credit card.

Proof of Payment
Depending on the amount of the purchase, you may be required to provide a PIN or signature to complete the transaction. Typically, a PIN is used for a debit card. This can be set up by your bank or you may have access to change it anytime you want. It’s important to remember this number and never write it down. If someone else finds it, they can use your card and drain your bank account. With a credit card, you will not have a PIN but instead, you’ll be required to provide a signature. This signature states that you will pay the bill when it’s due.

Limits of the Card
Both types of cards have limits but in different ways. Since a debit card takes money out of your checking account, you can only spend as much as you already have. If you overspend, it may pull money from your savings account and you could be charged a fee. This is called an overdraft. Most banks will give you the choice to allow an overdraft to happen with a fee, or to cancel the transaction before it goes through and avoid the fee. Think about your own spending habits and decide what’s best for you. With a credit card, you will be charged interest for every month you carry a balance. This is where most people tend to get in trouble. They charge more than they can afford to pay off in a single month, carry a balance, and then owe more due to the interest.

When to Use Which Card

When deciding which card to use, consider your personal spending habits, the pros, and cons of each card, and the purchase in question.

A debit card is the ideal method of payment for daily purchases or small transactions. Groceries, gas, and movie tickets are all easily paid for with a debit card and are items you likely would have otherwise paid cash for. You don’t have to worry about paying it back or accruing interest, and this is also a good choice if you’re likely to get into credit card debt that you’ll have a hard time paying back.

Online purchases are more easily refunded or refuted if on a credit card. Car rental and hotel reservations may come with additional costs when you return the vehicle or check out. Many credit cards come with reward options such as cashback, earning points towards flights, and more. It may be more beneficial to purchase gas and groceries on your credit card if you earn extra points for them that you can save up for a rainy day.

Credit & Debit Cards from Common Trust

Think you’re ready for a new credit or debit card? At Common Trust, we offer both low-interest credit cards and hassle-free debit cards for our customers, as well as great tips for learning how to make the most of each card. If you’d like to learn more about these offerings, please don’t hesitate to contact us today by calling 781-933-2600 or visiting commontrust.org. We look forward to helping you achieve financial happiness.

Investing In History: Woburn’s Inventive Past

At Common Trust Federal Credit Union, we believe honoring our communities’ past and present is critical for building and supporting our members’ future success. Our new series “Investing in History” focuses on better understanding the foundations of our beloved communities. Next up is Woburn! 

In the Name of Expansion

In 1629, the Charlestown settlement was looking to grow its borders and petitioned Massachusetts Bay Colony representatives for access to the land north of Boston. This land was settled in 1640 and incorporated as Woburn in 1642, taking its name from a small village in Bedfordshire, England. Co-founder Edward Johnson served as the first town clerk and is often called the “Father of Woburn”; Deacon Edward Convers, another co-founder, was one of its first selectmen and built the first house and first mill in Woburn. 

Shoe Leather and Tanning

Until 1803, Woburn remained a primarily agricultural center for the region. When the Middlesex Canal opened, this gave local tanners and leather manufacturers better access to materials, and the leather industry boomed. This led to expansions in both the shoe-making and tanning industries, leading to the establishment of the rubber industry in East Woburn in 1836. By 1885, Woburn was the leading producer of leather in the area; none of these manufacturers are around today because of the Great Depression and other market changes affecting the demand for tanning.

Great Inventors

Benjamin Thompson, also known as Count Rumsford, was one of Woburn’s more notable citizens. Born in 1793, he is credited with the inventions of the drip coffee pot and the kitchen stove. In fact, President Franklin D. Roosevelt once said that the brightest minds America ever produced were Thomas Jefferson, Benjamin Franklin, and Benjamin Thompson. Another bright idea to come from Woburn: Charles Goodyear discovered the process of rubber vulcanization in 1839, just in time to revolutionize the world forever.

‘A Civil Action’

An environmental trial cast both a shadow and spotlight over the town when, in May 1982, citizens filed a lawsuit against W.R. Grace and Company and Beatrice Foods, accusing them of contaminating local water sources with chemicals linked to cancer. At the time, Beatrice Foods was acquitted and Grace was fined only $8 million; later, the EPA found that both companies were responsible for the contamination. The case garnered Hollywood attention, leading to a book and adapted movie starring John Travolta and Robert Duvall.  

Today and Into the Future

Woburn today is a mix of quiet neighborhoods located about 9 miles from downtown Boston. It is still an industrial center and home to vibrant industrial parks and medical facilities. The Woburn Public Library was designated a National historic landmark in 1987, and the new police station opened in 1990. Two silly laws still on the books: 

  • Don’t try to use Silly String within town borders — the stuff was outlawed in 1991. 
  • In bars, it’s illegal to stand up and/or walk around with a drink in your hand.

At Common Trust Credit Union, we are proud to support Woburn’s residents and businesses as part of our community of financial leadership. If you would like more information on how to become a member of CTFCU, contact our local branch today to get started! 

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