Credit Union To Move HQ From Greenwich To Stamford After Nearly 90 Years: Reports

GREENWICH, CT — Members Credit Union (MCU), which has been in Greenwich for nearly 90 years, will relocate its headquarters to Stamford, according to multiple media reports.

The Hartford Business Journal originally reported late last month that the credit union will move its main office from 126 E. Putnam Ave., in Cos Cob to 612 Bedford St., a former Bankwell branch in Stamford near the police department.

A target date for the relocation is Dec. 1, 2023, Hartford Business Journal noted.

Greenwich Time said Wednesday the move was precipitated by an increase in rent. MCU has relocated several times over the years within Greenwich, and always rented or was given space.

Now in Stamford, the credit union will own the building on Bedford Street, the Advocate said, adding that the location will be more convenient for the majority of members.

MCU was started in 1935 by nine Greenwich school teachers who were unable to get small loans at local banks, according to the credit union's website.

The teachers formed a cooperative, pooled their money and lent it to each other. Services were expanded to include other school staff, some private schools and companies in town, the website says.

"In 2002 we made the decision to become a community credit union and expand our outreach inclusive of all who live in Fairfield County, whether young or old, financially savvy or challenged, with good or challenged credit, American or immigrant. We are certified financial counselors and help our members find their way to financial success," the credit union says on its website.

In 2017, MCU received the Juntos Avanzamos (Together We Advance) designation in 2017 for their outreach to the Hispanic community.

In 2018, they were awarded with two national awards: Credit Union Hero and Trailblazer Award for Service to the Underserved.

Read more from Hartford Business Journal and Greenwich Time