Hartford Business Journal

2026 BUSINESS PROFILES | HARTFORD BUSINESS JOURNAL 15 With approximately $890 million in assets and a growing footprint rooted in Connecticut and expanding throughout the country, Nutmeg State has evolved into a modern, forward-thinking financial institution that blends digital convenience with a high-touch, relationship-driven approach. Its product suite includes consumer and business banking, lending, and digital solutions designed to meet members where they are; whether online, in-branch, or through its expanding service channels. Beyond products, Nutmeg State is deeply invested in community impact. As a values-driven organization, it actively partners with local organizations, supports financial education, and champions initiatives designed to strengthen economic opportunities across genera- tions. e credit union philosophy of "people helping people" is central to its identity and long-term strategy. "Our commitment to community is not separate from our business — it is our business. At Nutmeg State, we believe true financial success is measured not just by what we achieve as an organization, but by how we lift the communities we serve. By investing in partnerships, education and opportunity, we're living out the credit union philosophy of people helping people — creating stronger families today and more resilient generations for the future," said Dr. Luis Ramos, chair of the credit union. Looking ahead, Nutmeg State is positioned for continued growth through strategic expansion, digital transformation and partnerships that enhance scale and capabilities. As the financial services landscape evolves, particularly with consolidation among larger banks, Nutmeg State remains focused on delivering a differentiated ex- perience rooted in trust, innovation and purpose. At its core, Nutmeg State is more than a financial institution; it is a catalyst for financial empowerment, committed to helping individuals, families and businesses thrive by taking small steps. Confident steps. One foot in front of the other. FORWARD. UPWARD. FOR ALL LIFE'S MOMENTS W hat sets Nutmeg State Financial Credit Union apart is its pur- pose-driven mission: to empower members and families to achieve stability, seize opportunities and build legacy. is commitment is reflected in its focus on financial inclusion and well-being, ensuring individuals and families, including those historically underserved by traditional banking institutions, have access to the tools and guidance needed to build intergenerational long-term financial stability. Nutmeg State continues to challenge industry norms through innovative, member-first initiatives. e organization was among the first in Connecticut to eliminate NSF and overdraft fees, reinforcing its commitment to transparency and financial wellness. Its approach prioritizes helping mem- bers retain and grow their savings while avoiding the punitive fee structures often associated with traditional banking. "Everything we do at Nutmeg starts with a simple belief: when we help people build stability today, we open the door for opportunity tomorrow and create the foundation for lasting legacy. at means chal- lenging the traditional banking model — eliminating barriers like overdraft and NSF fees and replacing them with solutions that truly support our members' financial well-being. We're not here to profit from hardship; we're here to provide access, guidance and trust so every member, regardless of where they start, has the ability to move forward and upward," said John Holt, the credit union's CEO. Nutmeg State is a member-owned, nonprofit financial cooperative headquartered in Rocky Hill, Connecticut, with a legacy dating back to 1936. Built on the principles of the credit union movement, Nutmeg State exists to serve not shareholders, but its more than 66,000 members, delivering accessible, affordable financial services while reinvesting in the communities it serves. Nutmeg State Financial Credit Union Executive Leadership Team and Board of Directors. ADDRESS: 500 ENTERPRISE DRIVE, SUITE 4A, ROCKY HILL, CT 06067 PHONE: 860-513-5000 WEBSITE: NUTMEGSTATEFCU.ORG TOP EXECUTIVE: JOHN HOLT, CEO PRODUCT OR SERVICE: FINANCIAL SERVICES NO. OF EMPLOYEES: 139 YEAR FOUNDED: 1936

• Cover