WATERFORD, Conn.–Brian Orenstein, president and CEO Charter Oak Federal Credit Union, has announced plans for retirement He is hopeful of leaving the post by Jan. 1.
Orenstein, who has led Charter Oak since 2007, has seen a near quadrupling of assets to $1.66 billion during his career.
Orenstein, who told The Day that the credit union is “poised for further growth,” credited part of the credit union’s success to a decision to construct its new headquarters building at the critical Interstate 395-Route 85 intersection. The CEO noted the building has frequently been praised for its striking appearance (see below).
The 55,000-square-foot building, which opened 11 years ago, has become a landmark in southeastern Connecticut and now houses half of Charter Oak’s 200 employees, according to the Day.
During his tenure Orenstein also helped launch a Gold Rewards program that gives qualifying members cash bonuses of $100, so far totaling $8.2 million. The credit union currently has 88,000 members.
Charter Oak has also been very active in community giving and financial literacy in schools.
‘Proud’ of Accomplishments
“I am proud of what we’ve accomplished and know it was only possible because of the hard work and dedication of our board of directors, supervisory committee and most importantly our employees,” Orenstein said in a released statement. “The trust and commitment that our employees receive from our membership is what makes our credit union so successful.”
According to Orenstein, Charter Oak has not yet selected a successor but has retained a search firm.
