GROTON, Conn. – Charter Oak FCU, the one-time credit union for Electric Boat submarine builders, unveiled plans for a new 60,000-square-foot, $16-million office project in nearby Waterford.
The site is at the intersection of Industrial Drive and Route 85. The plans have been submitted to Waterford’s conservation commission and planning and zoning commission. The Waterford Utility Commission already approved a request by Charter Oak to extend the sewer line.
The credit union built its current headquarters in Groton at 32 Chicago Avenue in 1970, when it was a $25-million credit union. Now, it has nine full-branches, two high school branches and a small branch at Electric Boat in New London, and $700 million in assets.
The new headquarters will have a new branch on the first floor, with four drive-through lanes. The basement will have a community room for public use. The second floor will be the corporate headquarters, including a boardroom.
Although about 80 people will be at the office, there will be office space for about 115 people, according to building plans.
