In 1936, the year the credit union was founded, the country was still trying to recover from the stock market crash of 1929.
Life was still fairly simple
First-class postage was only three cents and five pounds of sugar cost 27 cents. On the down side, salaries were low and jobs were scarce. Economic times were still hard.
Although it was the Depression, positive signs were emerging as technology began to awaken with the invention of television and the first computers.
In his first term as President, Franklin Delano Roosevelt made use of public funds by setting into motion a series of fiscal and social reform measures designed to revive the hurting economy. With the passage of the Federal Credit Union Act in 1934, financial stability was finally made a possibility to the working class on a personal level.
Helping teachers in Ansonia
Within this growing climate, a forward-thinking individual named Mr. Wayne Flagg was instrumental in forming a credit union to help teachers in the Ansonia area assume control of their financial lives and Wepawaug Teachers Federal Credit Union was born.
From its early beginnings, Wepawaug Teachers Federal Credit Union grew into the organization you see today — Wepawaug-Flagg Federal Credit Union.
In June 2010, WFFCU merged with Hamden Federal Credit Union, which added thousands of additional members. WFFCU now represents roughly 9,000 members and has an asset size of nearly $90 million as of August 2014.