Dec, 31, 2023 — CONNEX CREDIT UNION is a federally insured state chartered credit union headquartered in NORTH HAVEN, CT with 8 branch locations and about $1.01 billion in total assets. Opened 84 years ago in 1940, CONNEX CREDIT UNION has about 70,140 members and employs 157 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CONNEX CREDIT UNION |
|---|---|
| Address: (Main Office) | PO Box 477 NORTH HAVEN, CT 06473-0477 |
| Phone: | (800) 278-6466 |
| Fax: | (203) 239-0434 |
| Website: | https://www.connexcu.org |
| Branches: | 8 branch locations |
| Members: | 70,140 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68511 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1940 |
| Last Audited: | Sep 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,012,806,213 |
| CEO/Manager: | Francesco Mancini |
| Chairperson: | Janice Bryden |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 35,809,660 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 376,115,568 |
| Unsecured Loans | 18,435,974 |
| Other Loans | 452,593,367 |
| TOTAL LOANS | 880,854,728 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -5,204,360 |
| Land And Building | 6,983,932 |
| Other Fixed Assets | 6,084,227 |
| NCUSIF Deposit | 7,286,818 |
| All Other Assets | 0 |
| TOTAL ASSETS | 1,012,806,213 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,525,942 |
| Notes & Interest Payable | 40,000,000 |
| Accounts Payable & Other Liabilities | 7,300,830 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 121,578,099 |
| Regular shares | 189,775,798 |
| All Other Shares & Deposits | 563,960,263 |
| TOTAL SHARES & DEPOSITS | 875,314,160 |
| TOTAL LIABILITIES | 924,140,932 |
| Regular Reserve | 0 |
| Other Reserves | 2,247,265 |
| Undivided Earnings | 86,418,016 |
| TOTAL EQUITY | 88,665,281 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,012,806,213 |
| INCOME & EXPENSE | |
| Loan Income | 34,755,816 |
| Investment Income | 2,424,307 |
| Other Income | 3,896,237 |
| Total Employee Compensation & Benefits | 12,307,739 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 9,244,648 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,330,767 |
| Cost of Funds | 16,359,198 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 5,253,281 |
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