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National Credit Union Service Organization

SCIENT FEDERAL CREDIT UNION

Jun, 30, 2021 — SCIENT FEDERAL CREDIT UNION is a federal credit union headquartered in Groton, CT with 3 branch locations and about $290.87 million in total assets. Opened 38 years ago in 1983, SCIENT FEDERAL CREDIT UNION has about 20,317 members and employs 43 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 211177010
Name:SCIENT FEDERAL CREDIT UNION
Address:
(Main Office)
60 Colver Avenue
Groton, CT 06340
Phone:(860) 445-1060
Fax:(860) 448-2101
Website:https://www.scientfcu.org
Branches:3 branch locations
Members:20,317
Credit Union Type:Federal Credit Union
Charter Number:24029
Membership Type:Multiple common bond - Primarily other manufacturing
Corporate Credit Union:No
Year Opened:1983
Last Audited:Jun 01, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$290,873,299
CEO/Manager:Chris A Maynard
Chairperson:Karen M Walters

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 8,504,486
TOTAL INVESTMENTS 31,368,484
Loans Held for Sale 0
 
 Real Estate Loans 101,939,006
 Unsecured Loans 13,904,849
 Other Loans 126,711,435
 TOTAL LOANS 242,555,290
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -1,158,505
 Land And Building 2,205,568
 Other Fixed Assets 665,819
 NCUSIF Deposit 2,248,600
 All Other Assets 4,483,557
  TOTAL ASSETS 290,873,299
LIABILITIES & CAPITAL:  
 Dividends Payable 15,710
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 3,725,550
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 23,764,327
 Regular shares 93,877,310
 All Other Shares & Deposits 143,121,303
  TOTAL SHARES & DEPOSITS 260,762,940
  TOTAL LIABILITIES 264,504,200
 Regular Reserve 1,582,525
 Other Reserves 203,565
 Undivided Earnings 24,583,009
  TOTAL EQUITY 26,369,099
  TOTAL LIABILITIES, SHARES, & EQUITY 290,873,299
INCOME & EXPENSE  
 Loan Income 4,171,666
 Investment Income 233,668
 Other Income 398,241
 Total Employee Compensation & Benefits 1,927,926
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,737,655
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 157,137
 Cost of Funds 333,735
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,283,052
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