About Wemelco
Who Can Join?
As an industrial credit union serving the energy industry, Wemelco works with the following companies:
Northeast Utilities and its subsidiaries
ISO-New England
IBEW Local 7
Family members of these employees are also eligible for membership (family includes father, mother, son, daughter, brother, sister, husband, wife, aunt, uncle, niece, nephew, grandfather, grandmother, grandchild, father-in-law, mother-in-law, son-in-law, daughter-in-law, brother-in-law, sister-in-law, stepfather, stepmother, stepson, stepdaughter, stepbrother, stepsister, half brother or half sister)
All you have to do to become a member is open a regular share account with a minimum deposit of $25.00. Once a member, always a member.
Your company and your needs are unique. A Wemelco specialist will work closely with you to determine your needs. Please contact us today for more information. You will receive an answer within 24 hours.
What is a Credit Union?
Like banks, but better -, credit unions are driven by a philosophy that sets us apart. We are a non-profit, cooperative organization where each member is an owner and has an equal say regardless of his or her balance. The credit union is run by a Board of volunteer members and then the day to day operations are run by the credit union staff.
Is My Money Safe?
Accounts at Wemelco are insured by the National Credit Union Administration and the Massachusetts Share Insurance Corporation, up to their total balances.
Who's On the Board?
The Board of Directors is made up of unpaid volunteers elected at our annual meeting. They meet at least monthly to review the financial statements of the credit union and supervise management. Any member can run to be on the Board of Directors. The following people represent our members on the Board of Directors:
Daniel Petruccelli, Chair (term expires in 2014)
Kim Kiernan, Treasurer (term expires in 2012)
Linda Masse (term expires in 2014)
Andrew Netherwood (term expires in 2014)
Barbara Charest (term expires in 2012)
Madhu Shah (term expires in 2013)
Dave Wilson, Vice-Chair (term expires in 2013)
Mike Fraga (term expires in 2012)
Dan Blaney, Clerk (term expires in 2014)
Jim Kearney (term expires in 2012)
