Our 2020 Accomplishments and Plans for the Future

Posted Jan 15, 2021

2020. What more is there to say? A year that we all thought would never occur in our lifetimes. Through all the struggles that 2020 presented to everyone, Nutmeg State Financial Credit Union not only stayed open during these times, but also outfitted all of our locations to ensure the most safe interactions and experiences for our members and employees. During the year, we were also able to update our Glastonbury location to a DMV Express & AAA location, marking our 1st DMV Express location in Hartford County, and our 1st partnered location with AAA. Let’s take a look at the 2020 Recap, and what exciting news is in store for 2021. 

Adapting to COVID-19 @ Nutmeg & the Paycheck Protection Program

I can’t talk about adapting to COVID-19 without recognizing the dedication of the amazing employees here at Nutmeg. Our IT and Operations staff were able to get our corporate employees the ability to work remote almost overnight (including our contact center), and our branch staff were able to adapt to the drastic change in their daily operations almost immediately. I am very thankful for their hard work, dedication, and passion as they are the backbone of the Credit Union. We faced unexpected challenges as a result of COVID-19. However, I am proud to say that we quickly adapted and took significant steps to keep our members informed. In addition to remaining open as an essential business, we released detailed safety information on our website about contactless payment methods, online scam protection and more. We also began hosting online webinar sessions to educate our members about the benefits of relief options like the Paycheck Protection Program (PPP), which has been especially helpful for our business members. Since the pandemic began, we have provided hundreds of businesses with PPP funding. We will continue to help our members and local businesses as similar resources become available. As of mid-January, we have funded an amazing $24 Million in PPP loans and have gotten around 200 new business relationships since the start of March. Earlier this month, the second round of PPP loans were released, and you can start your application process via our website. During the pandemic, we also made significant developments to our online appointment scheduler. As you know, we created the appointment scheduler with custom technology to allow members to schedule their branch visits in advance. This was originally just for our DMV Express locations in Milford and North Haven. However, we extended this convenience to all our locations when we made the decision to remain open by appointment only. Our members quickly adapted to this service and have continued to rely heavily on it to schedule their branch visits even after we reopened to unscheduled visitors. This success is another step in the right direction for us as we continue to develop technology to enhance your experience.

Glastonbury DMV Express & AAA

As I’m sure you know, the goal of partnerships like our AAA and DMV partnership is to make it easier for people to access a wide range of products and services at the same location. Our shared locations DMV Express locations in Milford and North Haven have been very successful with this approach and we are excited to expand on our relationship with the DMV in Glastonbury. On September 21st, we opened the new location, where the community can receive their driver’s history, complete license renewals, license replacements, name changes and more through the DMV Express (as provided by AAA). And as always, these services were made available with our custom technology to ensure your experience is as convenient as ever. Although Glastonbury’s focus will be on self-service technology, staff remains onsite to provide education and help as needed.

As an additional benefit to the DMV Express in Glastonbury, the cobranded location will also offer AAA’s portfolio of products and services. This is something I am very excited to share with you as it is the first time we will be dividing retail space between three businesses. To manage foot traffic, we have also made sure to include separate areas with clear displays for each of our partners. You are able to do your banking with Nutmeg, then step to the DMV or AAA areas to also take advantage of the great services they have to offer.

What’s coming in 2021? New Branches & New Technology

Now that 2020 is behind us, what can I tell you about 2021? Well, I have some very exciting news! We are planning on opening two new locations in the near future. The 1st location will be located in Norwalk, and should be opening sometime in March. The second location will be opening in the Hartford area, and we are still actively searching for the best location for our members. These new locations will also be accompanied by DMV Express! Stay tuned for further information and dates regarding these two new exciting locations

As you have read in my previous blogs, we have been implementing a lot of new technology in our branches, and through our various E-channels. Coming in 2021, we will be rolling out a brand new online banking & mobile platform. This new system will give our members more freedom to perform many functions on their own versus having to call or go into a branch, should they wish. Watch for more communications in the weeks to come on these exciting updates!

As always, thank you for your continued support of Nutmeg State Financial Credit Union.

Sincerely,

John Holt

President and CEO

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