Central One is a not-for-profit federal credit union. It was established in 1952 as an occupational-based credit union, serving the employees and family members of the New England Electric System (NEES) and their affiliate companies. Central One Federal Credit Union was officially granted a community-based charter on November 19, 1998 by the National Credit Union Administration (NCUA). This conversion was formally adopted by the Board of Directors on November 21, 1998 and effective November 23, 1998. The conversion to a community based credit union, allows Central One to serve many communities in Central Massachusetts. Membership in Central One is eligible to "persons who live, work, worship, go to school in, and business and legal entities in" our Field of Membership. Once a member...always a member... Once you are a member of Central One, you are always considered a member, even if you move out of our charter area, as long as your share savings account maintains at least a $5.00 balance. Family members or individuals living in the same household as an existing member are eligible to join Central One. Family members can live anywhere in the world and still become a member of Central One. The Credit Union's philosophy is to "offer the highest quality products and services possible to both the Savers and the Borrowers of Central One Federal Credit Union".