Why Northeast Credit Union

History

This history overview is dedicated to commemorating Northeast Credit Union's milestones.

Northeast Credit Union has been a trusted neighbor and the financial partner of choice for our members for over 75 years. The credit union was founded in 1936 when ten individual members, each subscribing to one share, established our roots as Portsmouth, NH U.S. Employees Federal Credit Union #1515. With all that has evolved since our founding, one thing remains constant - our central focus is our members and the communities we serve. Northeast Credit Union remains true to the credit union creed - people helping people.

Other notable milestones include:

1977 – Name changed to Northeast Federal Credit Union. Share draft accounts were introduced.
1978 – Portsmouth Naval Shipyard branch and main office at Borthwick Park in Portsmouth are opened.
1981 – Concord and Manchester branches are opened.
1982 - Individual Retirement Accounts and mortgages are offered for the first time. Merged with Watts Fluidair Employees Federal Credit Union. Began serving Liberty Mutual employees.
1983 - Visa credit and debit cards are added. Merged with Portsmouth Municipal Employees Federal Credit Union, Davidson Rubber Company Employees Credit Union, and Eastern Air Devices Employee Credit Union.
1984 – Merged with Wentworth Douglas Hospital Employees Credit Union and Cocheco Federal Credit Union.
1986 – Opened first Dover branch. Began serving Cabletron employees.
1989 – Began serving Portsmouth Hospital employees.
1990 – Telephone banking is added.
1993 - Borthwick Associates, now Northeast Investment and Insurance Services, began offering annuities and received their first securities license. First Rochester branch is opened. Merged with Bailey Federal Credit Union.
1995 – Began serving Continental Cablevision and Portsmouth Herald employees.
1997 - Northeast Credit Union converted from a federally chartered credit union to a state chartered credit union.
1999 – Online banking makes its debut. New Dover branch is opened on Members Way.
2000 – Exeter branch is opened.
2003 – Bill Pay and online applications are offered.
2004 – Rochester branch relocates to present location.
2007 – Lee and Northwood branches are opened.
2010 - Manchester branch relocates to present location.
2012 – Mobile banking and remote deposit are offered. New Merrimack branch is opened on Daniel Webster Highway.
2013 - Northeast Credit Union merges with Woodlands Credit Union. Merger adds branches in Berlin, Conway, Gorham, Lebanon, and Plymouth to Northeast Credit Union.

Northeast Credit Union has also faced its fair share of challenges including: the recession of the 1980s, the closing of Pease Air Force Base in 1990, the down-sizing of the Portsmouth Naval Shipyard, weathering the storms of the 90s when the banking industry lobbied Washington politicians about credit union exempt-status, and most recently the severe real estate and economic downturn. Through it all, we've never forgotten why we were originally founded - to make credit more available to people of modest means - to be a trusted neighbor. Remaining true to our values has led us to where we are today. We thank our dedicated board, management team, and staff who work diligently each day to uphold our mission and achieve our strategic vision.

Throughout our history, we have prospered by building relationships with our members based on trust - the trust in knowing that Northeast Credit Union will guide them to the right financial products and services to help enhance their financial well-being. We are committed to providing our members with great financial products, helpful financial education programs, sound advice, and personalized services. Throughout the decades, we have sought ways to increase the value of membership by listening to our members’ financial needs. Our products exist because of our members, and every day we continually strive to provide the best possible service - each and every member deserves no less. For every goal our members work to achieve - from buying a home or auto, starting a business, to saving for college and retirement - Northeast Credit Union is with them every step of the way.

In closing, we'd like to recognize and thank our members for Northeast Credit Union's success. In fact, our very existence is due entirely to our members. We're honored to be your trusted neighbor.