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National Credit Union Service Organization

SCIENT FEDERAL CREDIT UNION

Mar, 31, 2021 — SCIENT FEDERAL CREDIT UNION is a federal credit union headquartered in Groton, CT with 3 branch locations and about $293.84 million in total assets. Opened 38 years ago in 1983, SCIENT FEDERAL CREDIT UNION has about 20,524 members and employs 45 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:20,524
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:$293,844,456
CEO/Manager:Chris A Maynard
Chairperson:Karen M Walters

Call Report

  • Commercial Loans
  • Credit Builder
  • Indirect Consumer Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Insurance/Investment Sales
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 25,071,884
TOTAL INVESTMENTS 32,390,697
Loans Held for Sale 0
 
 Real Estate Loans 91,229,755
 Unsecured Loans 14,406,447
 Other Loans 122,660,443
 TOTAL LOANS 228,296,645
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -1,260,096
 Land And Building 2,230,931
 Other Fixed Assets 621,161
 NCUSIF Deposit 2,253,808
 All Other Assets 4,239,426
  TOTAL ASSETS 293,844,456
LIABILITIES & CAPITAL:  
 Dividends Payable 19,073
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 4,225,109
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 24,052,914
 Regular shares 95,025,805
 All Other Shares & Deposits 145,131,747
  TOTAL SHARES & DEPOSITS 264,210,466
  TOTAL LIABILITIES 268,454,648
 Regular Reserve 1,582,525
 Other Reserves -153,745
 Undivided Earnings 23,961,028
  TOTAL EQUITY 25,389,808
  TOTAL LIABILITIES, SHARES, & EQUITY 293,844,456
INCOME & EXPENSE  
 Loan Income 2,032,263
 Investment Income 109,015
 Other Income 208,188
 Total Employee Compensation & Benefits 981,275
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 844,792
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 111,528
 Cost of Funds 176,782
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 661,072
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