Mutual Security Credit Union plans branch in Bridgeport

Mutual Security Credit Union, based in Shelton, is looking to expand to Bridgeport.

Shelton-based Mutual Security Credit Union has filed with the Connecticut Department of Banking to open a branch in downtown Bridgeport, according to papers filed with the agency.

The new branch, which will be at 3690 Main St., is due to open on April 1, 2025.

If approved, it would be the fifth branch for the credit union. The others are located at 541 Westport Ave., Norwalk; 97 Newtown Road, Danbury; 1000 Bridgeport Ave., Shelton; and 764 Straits Turnpike, Watertown.

As of the first quarter of 2024, the credit union, which is headed by CEO Henry Baum, had nearly 27,000 members, nine ATMs, and 71 full-time employees. Among the largest credit unions in the state, Mutual Security has nearly $360 million in assets, including nearly $18.5 million in cash and other deposits and $5.4 million in total investments. It has about $329 million in total liabilities.

It has partnerships with the following state companies, non-profit organizations, and municipalities:

Apple Rehab
ASML
Boehringer Ingelheim
Bridgeport Rescue Mission
Norwalk Board of Education
Sacred Heart University
UPS
Lincoln Tech Institute
PerkinElmer
Timex
UTC Gyroscopes
William Raveis Real Estate
Wilton Board of Education