News Archives - Common Trust FCU

Common Trust Federal Credit Union Supporting Local Health Care as Platinum Sponsor of Step out for Hospice

Photo caption: Members of the Woburn Friends of VNA Hospice & Palliative Care recently
thanked Common Trust Federal Credit Union for their support as Platinum Sponsor of the
22 nd annual Step Out for Hospice. Back row, from left: Robert Brown, Treasurer of the
Woburn Friends; Joseph McDonough, Jr., Co-Chair of the Woburn Friends; James M.
McCorkle, President & CEO of Common Trust Federal Credit Union; Brian Kelley, Co-Chair
of the Woburn Friends; Jamie Kelley, Co-Chair of the Woburn Friends; and Laura Wise,
Manager of Fund Development for VNA Hospice & Palliative Care.

Common Trust Federal Credit Union has signed on as a Platinum Sponsor of the 22nd annual Step Out for Hospice, a benefit for VNA Hospice & Palliative Care on Sunday, Oct. 6, in Woburn.

“We are grateful for Common Trust’s ongoing generosity as a key sponsor of our annual Walk Run benefit. All the money raised though Step Out for Hospice will help us to provide care, support and comfort to people of all ages with a life limiting illness,” said Laura Wise, Manager of Fund Development.

Common Trust Federal Credit Union is a member-owned financial institution that provides personal banking services. Located at 8 Cedar St., Woburn, Common Trust’s mission is to be the familiar face that guides their membership to financial stability by building lifelong relationships with each individual and providing them with the solutions needed to meet their unique goals.

“Common Trust is pleased and honored to support this fun, family-oriented event,” said Jim McCorkle, President and Chief Executive Officer of Common Trust Federal Credit Union. “We are deeply involved in our community, and we see this as an opportunity to give back to the community and to support an important local organization. We hope to see everyone there enjoying Step Out for Hospice!”

Step Out for Hospice begins at the Irish American Club of Woburn, 147 Main St. The free, 1-Mile Fun Run for children ages 13 and under starts at 11:30 a.m. Prizes and a limited number of T-shirts will be available for Fun Run participants. The 3-Mile Walk starts at noon, and 5-mile Road Race at 12:30 pm. Participants are invited to enjoy the post-walk/run festivities, including live music and dancing, chowder, hot dogs, popcorn, raffle, and silent auction.

Preregister now for the Walk or Road Race for a discounted fee of $30 (includes sweatshirt). Students may register for the Walk or Road Race for $15. The Fun Run is free; preregistration is appreciated. To register, visit www.vnacare.org/stepout or call Deborah Corkum of VNA Hospice & Palliative Care at 888-663-3688, ext. 1362. Step Out for Hospice is presented by the Woburn Friends of VNA Hospice & Palliative Care, Irish American Club of Woburn, and Shamrock Running Club. For more information about Common Trust Federal Credit Union, please visit www.commontrustfcu.org.

Youth Account Giftcard Winner Announced!

With summer vacation in full swing, education is the furthest thing from the minds of schoolchildren finally set free from notebooks and pencils for a glorious 3 months. But for one Woburn boy, his dedication to learning about money and savings has just landed him a big prize sure to make his summer more fun.

Common Trust Federal Credit Union is proud to award Mason McCabe, 8, a $100 Amazon gift card. He and his mother, Lisa, opened his account as part of our Youth Account Promotion during April and May. His and his family’s dedication to educating our next-generation members about the importance of financial management is truly an inspiration.

At CTFCU, we believe that by teaching kids how and why to manage their money, we are setting our youngest members up for a bright future of financial success. The simple step of opening a custodial account for your children can help can carry them into being financially responsible adults.

Thank you to everyone who entered our promotion. CTFCU is proud to support the local community through youth programs and will host this scholarship program next year. For more information on the additional programs and promotions offered to our members, please contact your local branch representative.

CTFCU’s Child Safety Day & Shred-It Day

We are excited to announce a two-part event at Common Trust Federal Credit Union! We will be hosting Child Safety Day along with our first Shred-It event on Saturday, June 1st from 9 AM – 12 PM in the CTFCU parking lot at 8 Cedar Street in Woburn. Stop by to shred your old documents and pick up a child safety kit!

Child Safety Day

School’s almost out which means it’s time to kick off summer safety! In honor of Child Safety Week, we will be distributing safety kits for all kids. Each kit will record your child’s height, weight, eye color, fingerprints, and DNA in case of an emergency.

Kids will also have the opportunity to play in a fire truck from Woburn’s Fire Department!

Shred-It Security Event

While the kids are enjoying themselves, you can securely dispose of all of your private documents in the on-site Shred-It truck. Members of the credit union can shred up to 5 boxes of documents and non-members can shred 1 box. If you are not a member but have more than 1 box to shred, this is the perfect opportunity to join Common Trust! Click here to read more about membership qualifications.

Our Name Has Changed!

It’s official, our name has changed!  Moving forward, Woburn Municipal Federal Credit Union will now be known as Common Trust Federal Credit Union (CTFCU).

The name change was announced during our annual meeting on April 16th, but it has officially taken effect as of today, May 1st. After months of hard work, we decided on this name as well as our new tagline, “Familiar Faces Invested in You,” as it best represents our mission to be the trustworthy, friendly faces that guide our membership towards financial success.

As we continue to grow, the new name and tagline will help us to stay competitive in the ever-changing consumer finances industry. Along with this, the name CTFCU will be inclusive to our growing field of membership as we recently received approval for a community charter from the National Credit Union Association.

Our new charter allows us to serve “persons who live, work, worship, regularly conduct business in, or attend school in, and businesses and other legal entities located in a contiguous portion of Middlesex County, Massachusetts, consisting of Bedford, Belmont, Burlington, Concord, Lexington, Lincoln, Medford, Melrose, North Reading, Reading, Stoneham, Tewksbury, Wakefield, Wilmington, Winchester, and Woburn, Massachusetts.” Learn more about our community charter in our latest blog post.

Current members of the credit union can rest assured that our core values will not change along with the new name. We still have the same staff and personalized service that are a trademark of who we are. In addition, while our field of membership will be growing, the city of Woburn will continue to be our home.

Members can expect to see the name Common Trust Federal Credit Union replace Woburn Municipal Federal Credit Union on all of our signage from now on. However, members will be able to continue using their WMFCU checks and cards without a problem until it’s time to re-order or they receive a new one.

As you may have noticed, we have also launched a new and improved website today. We hope that you find the site is easier to navigate and to view on your mobile devices. We want to hear your feedback about the new website and encourage you to share your thoughts by filling out our survey.

We thank everyone who has been a part of our name change process, and we are excited to move forward from now on as Common Trust Federal Credit Union.

Common Trust Federal Credit Union to Expand Field of Membership

Over the past several months, Common Trust Federal Credit Union has been working towards expanding to a community charter in order to stay competitive in the consumer finance industry. It has been announced that they received approval for the charter request from the National Credit Union Association. This charter expansion will allow the credit union to widen its field of membership to serve more towns and cities within Middlesex County.

This expansion comes following the announcement that it will be changing its name to Common Trust Federal Credit Union, effective on May 1st. Both, of these initiatives, are part of the credit union’s strategy to continue broadening its offerings to serve more people living in Woburn and the surrounding communities.

The charter expansion will allow the credit union to “serve persons who live, work, worship, regularly conduct business in, or attend school in, and businesses and other legal entities located in a contiguous portion of Middlesex County, Massachusetts, consisting of Bedford, Belmont, Burlington, Concord, Lexington, Lincoln, Medford, Melrose, North Reading, Reading, Stoneham, Tewksbury, Wakefield, Wilmington, Winchester, and Woburn, Massachusetts.”

Prior to the charter approval, those eligible to become a member of Common Trust Federal Credit Union was limited to anyone who worked for the City of Woburn, was enrolled in the Woburn School System, or worked for a company that’s part of the Woburn Business Association and all their family members. Current members of the credit union will continue to be eligible for membership after the new charter goes into effect.

With a goal of being a leader in Middlesex County, the credit union is looking forward to supporting more individuals through their low-interest rates, low fees, and personalized service. Even as Common Trust Federal Credit Union continues to grow, the leadership ensures that the core values of the credit union will remain the same and that the city of Woburn will continue to be its home.

CTFCU Donates $500 to the Council of Social Concern

Common Trust Federal Credit Union (CTFCU) is pleased to announce the donation of $500 to the Council of Social Concern in Woburn. The donation comes following CTFCU’s social media “like” campaign in which CTFCU pledged to donate $1 for every like received on their social media pages throughout the months of February and March.  On Thursday, CTFCU’s President and CEO, James McCorkle, presented the $500 check to the Council of Social Concern’s Executive Director, Dean Solomon.

Founded in 1969, the Council of Social Concern provides a variety of essential services to residents of Woburn and Winchester. They offer safe, affordable childcare and parental education courses through their Children’s Center and Family Childcare System, as well as provide food assistance and community resource education through their food pantry.

The organization was founded by Woburn residents who wanted to promote “neighborliness,” and that mission continues today by helping individuals of all ages reach their full potential.  They serve about 2,200 people per year, and rely heavily on donations and the work of over 200 volunteers to keep the facility running.

Since 2019 marks the Council’s 50th Anniversary, CTFCU thought it was a perfect opportunity to give back. Contributing to the Woburn community is one of the credit union’s utmost priorities. This $500 donation is just one of many donations that CTFCU has made to local organizations within the past year. Other donations include the Boys and Girls Club of Woburn and Woburn High School’s DECA Program.

In honor of their 50th Anniversary, the Council of Social Concern will be hosting a gala and auction to benefit their programs and services. Learn more about the 50th Anniversary Gala and the other ways that you can support the work they do for the Woburn community.

James McCorkle presenting Dean Solomon with check
CTFCU President and CEO, James McCorkle and Council of Social Concern Executive Director, Dean Solomon

Re-Cap of Our 52nd Annual Meeting & Our Big News!

If you couldn’t make it to our annual meeting, don’t worry. Here is everything that you should know about what we covered last night.

Our Name is Changing

Last night we officially revealed that we will be changing our name from Woburn Municipal Federal Credit Union to Common Trust Federal Credit Union (CTFCU), effective on May 1, 2019.

The name change is part of the credit union’s effort to continue expanding our product and service offerings to best support those living in Woburn and the surrounding communities. The new name will more accurately reflect our mission of being an inclusive and trustworthy financial partner for our members throughout their lifetime.

In a video presented to the meeting’s attendees, President and CEO, James McCorkle, revealed the new name and the new tagline, “Familiar Faces Invested in You.” The name and the tagline were both chosen to capture our unchanging core values of being the friendly faces that guide members to financial success. All of our core principles, our staff, and our services will remain the same once the new name goes into effect.

“We recognize that as the consumer finance industry changes, we have to change along with the times. We remember who we are and where we came from, but we want to include what we need to get to the next steps,” said McCorkle as he addressed the meeting’s attendees.

New & Improved Website

Once the name goes into effect on May 1st, members can expect to see it on all signage at the branch and on online. On May 1st, we will also be launching a re-designed website. The new and improved website will be easier for members to navigate to find the products, services, and promotions they are looking for. In addition, the website will be easier for users to view on their mobile devices. Once it is launched, members will be able to view the site at commontrustfcu.org.

Other Announcements

During the meeting, board members, William McGrath and Jane O’Connor, were re-elected, and the recipients of WMFCU’s college scholarships were announced. The two graduating high school seniors, Nora Martyny and Lia Kelly, were awarded scholarships for $1,000 each. Both students will be graduating from Woburn High School with 4.77 GPAs and as members of the National Honor Society. Martyny will be attending Northeastern University to study biology, and Kelly will be attending Worcester Polytechnic Institute to study biology.

McCorkle also announced last night that WMFCU will be holding it’s first Shred-It event and it’s second annual Child Safety event on June 1st. During the Shred-It event, members will be able to bring documents to the credit union and shred them for free.

Thank you to all of our members, staff, and board of directors for the continued support and dedication. We look forward to all of the exciting changes coming in 2019, and we can’t wait to continue growing and improving our services throughout the course of this year.

CTFCU’s 52nd Annual Meeting

CTFCU’s 52nd annual meeting is set to take place on Tuesday, April 16th at 4:30 pm, and we are looking forward to seeing everyone there.  During the meeting, our Board of Directors will be discussing the state of the credit union as well as new initiatives coming to the membership. We will also be revealing a special announcement that we are very excited to share with our members. All members in good standing are encouraged to attend.

The following is the agenda for the meeting:

  • Welcome by the Chairwoman of the Board of Directors, Kathleen Connolly
  • Reading and approval of the minutes of the 2018 meeting – Secretary of the Board, Kathleen McSweeney
  • Report of the Treasurer of the Board of Directors – Joan Sweeney
  • Report by the President / CEO of Common Trust FCU – James McCorkle
  • Report of the Supervisory Committee – Charlie Conant, Conant Associates
  • Election of the Board of Directors –  Chairwoman Kathleen Connolly will name each Board member and the nominations of the eligible candidates. There are two open positions and two members running so there will be no vote. Learn more about the board candidates.

The meeting will be held at our office, located at 8 Cedar Street, Woburn. Please note that photo identification is required at check-in, and light refreshments will be served. We can’t wait to see our members there and for our exciting announcement!

CTFCU Hosts Financial Literacy Auction at Woburn’s Kennedy Middle Schoool

On Monday, March 11th, CTFCU held its first CU4 Reality Auction with two eighth grade classes from Woburn’s Kennedy Middle School. The eighth grade classes are a part of CTFCU’s Financial Literacy Program, where representatives from the credit union teach students about financial responsibility.

The students from this program had been running their own businesses in school for the past few months, and CTFCU’s auction was an opportunity for these students to take their profits and bid on over 40 auction items. After working hard at their businesses since before Christmas, the students took home items including gift cards, sports equipment, and Bluetooth speakers. The auction was a great experience for the students as well as for the staff from CTFCU who attended.

Since kicking off the Financial Literacy Program last year, representatives from the credit union teach classes designed to prepare students for future financial success and cover topics such as personal finance, savings, and credit. CTFCU thanks Kennedy Middle School teacher Sara Dumanski and Principal Carl Nelson for their continued help and support of the CU4Reality Financial Literacy Program.

CTFCU at Kennedy Middle School

CTFCU’s New College Scholarship Opportunity

CTFCU is excited to announce a new scholarship opportunity, offering (2) $1,000 scholarships for two current high school seniors attending college next fall. We are pleased to be providing this opportunity to help students from our membership handle the costs associated with attending college.

To be considered for this scholarship, applicants must:

  1. Be a graduating high school senior
  2. Be a member of CTFCU
  3. Complete and submit the attached application form
  4. Submit a verified transcript from your secondary school
  5. Submit a copy of your acceptance letter for your chosen college/university
  6. Apply by March 31, 2019

Applicants will be evaluated based on their submitted grades, extracurriculars and financial need.

Download the application here.

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