In 1953, several members of the Leominster community met to discuss a growing concern. People needed to borrow money locally and there was no local resource to do so. These community members responded to the need for a local institution that could provide small loans at reasonable interest rates. That response was Leominster Credit Union.
Leominster Credit Union was founded in 1954. Initially, the credit union was open one night weekly. Its office was the back room of a local printing press. During the 1960s, assets increased to $105,000 and membership expanded to more than 400 members. In the 1970s, the credit union membership exceeded 4,500. It became obvious that a new, full-service building was needed to serve member needs. A corporate office and main branch were constructed in 1972. LCU continues operations at this site today.
In 2010, LCU opened the doors to its new 30,000 square foot Executive and Operation Building adjacent to the main branch and corporate offices.
Today, Leominster Credit Union serves the financial needs of North Central Massachusetts communities. LCU is proud to claim more than 40,000 members and assets of more than $700 million. Leominster Credit Union provides lending, deposit, and business services in Worcester County through a network of branches, ATMs, telephone, mobile and online banking services. Branches are located in Leominster, Worcester, Clinton, Holden, Sterling, and North Leominster. LCU operates two high school branches at Clinton High School and Wachusett Regional High School.