Haverhill Fire Department Credit Union Inc

Overview

Haverhill Fire Department Credit Union Inc (EIN: 42228208) is a nonprofit financial institution established to serve the firefighters and their families of the Haverhill Fire Department, located in Haverhill, Massachusetts. The credit union provides a range of financial services, including savings accounts, loans, and other banking services tailored to the needs of its members.

History

The Haverhill Fire Department Credit Union was chartered on August 5, 1933, in response to the financial needs of fire department personnel. The initial impetus for creating the credit union arose during preparations for a firemen’s ball when many firefighters required loans for new uniforms. The first office was established at the Essex Street fire station, where the organization quickly grew in membership and financial assets. By August 1934, just one year after its founding, the credit union had 91 members and $3,515.08 in assets.

Throughout the years, the credit union experienced significant growth. By 1950, assets had increased to approximately $41,000. In 1962, the office moved to the Water Street fire station, with assets reaching $170,000 by 1963. A pivotal moment occurred in January 1996, when the credit union expanded its membership to include all public safety employees in the Northern Essex County Mutual Aid Network, significantly increasing its membership and assets, which rose to $4 million by the end of that year.

In March 2003, after extensive renovations, the credit union relocated to the old Armory Building at 75 Kenoza Avenue, later purchasing the building from the City of Haverhill in March 2008. As of the latest updates, the credit union boasts approximately 1,826 members with assets exceeding $18 million.

Services

Haverhill Fire Department Credit Union offers various financial products and services, including:

• Savings Accounts: Providing secure options for members to save their money.

• Loans: Offering competitive loan rates for personal, auto, and home equity loans.

• Financial Education: Providing resources to help members make informed financial decisions.

The mission of the credit union focuses on delivering superior financial services to its members while contributing to the community it serves.

Membership

Membership is primarily available to current and retired firefighters of the Haverhill Fire Department and extended to public safety employees within the surrounding communities. This inclusive approach has enabled the credit union to strengthen its membership base and enhance community ties.

Conclusion

Haverhill Fire Department Credit Union Inc has a rich history rooted in the service of local firefighters and their families. With a strong commitment to its members and community, the credit union continues to evolve and meet the financial needs of its constituents, maintaining its status as a trusted financial institution in the region.