Triangle Credit Union is a financial cooperative organized as a state-chartered credit union in New Hampshire. Established in 1939, it originated as an employee-owned institution for workers of the Nashua Gummed and Coated Paper Company (later Nashua Corporation) to provide affordable savings and lending services[5].

History

The credit union was incorporated on September 16, 1939, initially operating from an office above Nashua Corporation’s facilities. Growth stagnated during World War II as wartime bonds took priority, but membership expanded post-1945 alongside economic recovery. In 1946, its board waived interest on loans for returning veterans, exempting them from payments during military service[5]. By 1960, it affiliated with the New Hampshire Credit Union League to strengthen its operational framework[5].

Structure and Operations

As a 501(c)(14) entity, Triangle Credit Union operates under state regulations for credit unions and mutual reserve funds, with donations excluded from federal tax deductions[1][3]. It functions as a member-owned, not-for-profit organization, emphasizing community service and member financial well-being[4].

Financial Overview

Historical filings indicate reliance on program service revenue (75.1% of total revenue in one fiscal year), primarily from interest and fees, alongside investment income (8.4%)[1]. Executive compensation accounted for 3.3% of expenses, with salaries and wages representing 26.1%[1]. As of 2016, reported assets totaled approximately $600 million[5].

Offerings

Services include consumer loans, mortgages, auto financing, credit cards, and business lending. The credit union promotes low-rate products, such as auto refinancing and first-time homebuyer incentives[2][5].

Governance

Governed by a member-elected board, Triangle emphasizes financial accessibility and community-focused growth, aligning with its founding mission to provide equitable financial solutions[4][5].