Polam Federal Credit Union – 55 Broad St

Polam Federal Credit Union is a member-owned, not-for-profit financial cooperative serving the New Britain, Connecticut area from its branch at 55 Broad Street. The organization operates within a cooperative model where accountability rests with its member-owners, who elect a volunteer board to guide strategic decisions and oversee governance. Polam emphasizes channeling earnings back to members through prudent lending, competitive rates, and accessible financial services, rather than distributing profits to external shareholders. The credit union’s history traces to the broader movement of cooperative banking, with roots in community-based financial solutions designed to foster economic stability for individuals who share membership in a common bond. Primary functions include savings and checking account services, consumer and small-dollar credit, and basic digital banking access for everyday financial needs. Operationally, Polam maintains a local presence with staffed hours tailored to accommodate members, while leveraging shared-network access to reach a wider footprint. The Connecticut location at 55 Broad Street anchors its service delivery in New Britain and complements the organization’s regional credit-union network.