In 1949, Antone Costa moved to the town of Westport. He enrolled in Business school and began to study Accounting, Cost Accounting, and Business Law for the next three years. Around that time he realized that Westport did not have a banking facility. Upon consulting the President of St. Mathieu’s Credit Union, he began to assemble a group of 25 people.
The first organizational meeting of the 25 Westport individuals was held in the Sterling Beverage Building (where the Hampton Inn is now located). A representative from CUNA addressed the group and presented them with a Charter. Westport Federal Credit Union became the first financial institution in Westport. The first meeting was held at the Grange Hall on Old Bedford Road. William Birkett was elected as the first President. Antone Costa was the clerk. He wrote ten books before realizing he was not a member, so he became book number eleven.
The American Legion Hall became the weekly meeting place of the board. For the following two years, every Friday evening from 6:00 pm to 9:00 pm with no heat and poor lighting they held their meetings. A cigar box was used for the money collected. There was also a branch office at a variety and package store on Sanford Road, owned by Phillip Barnaby, a member. Some members would make their deposits there and he would turn the money over to the treasurer at the time, Robert Butler.
In 1955, the Credit Union hired a teller, Thelma Sullivan. An asset to Westport Federal Credit Union, she served on the Board of Directors after her retirement from the Credit Union in 1998. In 2017, after 68 years of service, Thelma officially retired.
The Zulmira Plaza was built in 1965. The Credit Union once again decided to move to new headquarters where it has remained since.
In 2004, the Credit Union reached $40 million in assets and was granted an expanded field of membership. The towns included in the expansion were Fall River, Somerset, Swansea, New Bedford, Dartmouth, Fairhaven, Acushnet, and Freetown.
These days, the products and services that we offer to our members have grown significantly since our humble beginnings in 1952. We now offer, online loan application, online and mobile banking, mobile deposit, online account opening, our signature Whatevah loan, debit card fraud alerts, a variety of mortgage products, and more!
To learn more about our products and services, visit us at westport.org. Westport Federal Credit Union is proud to have been serving Southeastern New England since 1952.
Changes to the Property Value could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
You can change the property value by moving the Property Value slider up or down or by entering a new Property Value manually in the Property Value box.
When you change the Property Value, only the LTV will change, and the Loan Amount will remain the same Loan Amount.
Other advanced sliders’ options are available with Lendersa® Advanced Calculator
CloseChanges to the loan amount, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
CloseLTV is the abbreviation of Loan To Value, and it is the ratio between the Loan Amount and the Property Value. The formula to calculate LTV is Loan Amount divided by the property value. 
Example: Loan Amount $300,000, Property value $400,000 
Changes to the LTV, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
Close
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NMLS 1795154