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GMEFCU History
The Groton Municipal Employees Federal Credit Union was formed
in 1956 by Mr. Raymond Bugbee and Mr. William Clinton Jr. The original
Board of Directors were six members comprised of Mr. Bugbee, Mr.
Clinton, Mr. Robert Falvey, Mr. John Ball, Mr. James Davis, Mr.
Frank Kohl, and Mr. Burton Wilbur. The current Board is served by
Mr. Matthew Morton Jr., Mrs. Carole Mackin, Ms. Anna Mae Anderson,
Mr. Robert Champagne, Mrs. Kathleen McDonald, Mrs. Linda Stankewich,
and Mr. Walter Brown. The current Supervisory Committee members
are Mrs. Nancy Schmeelk, Mr. John Sullivan Jr., and Mrs. Linda Stankewich.
The current employees are Melissa Robinson, Tina Torres, Caitlin
Powers, and Melissa Kovalik. Since its inception, the Credit Union
has been served by 75 different volunteers from the membership.
When the Credit Union first opened, its total assets were $7,800.00.
Assets now exceed $7,000,000.00. The original location of the Credit
Union was 359 Thames Street in Groton. In 1966 the Credit Union
moved to its Meridian Street location, but it was upstairs in City
Hall rooms C-7 and C-8. Finally, its last move was in 1987, when
the Credit Union moved into the present location in the basement
of the Municipal building. On behalf of the entire membership, we
would like to thank each and every volunteer, both past and present
for their dedication and generosity in contributing to the growth
and success of the Credit Union.
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