Dec, 31, 2023 — CHARTER OAK FEDERAL CREDIT UNION is a federal credit union headquartered in WATERFORD, CT with 15 branch locations and about $1.55 billion in total assets. Opened 85 years ago in 1939, CHARTER OAK FEDERAL CREDIT UNION has about 87,726 members and employs 209 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CHARTER OAK FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1055 Hartford Tpke WATERFORD, CT 06385-4005 |
| Phone: | (860) 446-8085 |
| Fax: | (860) 446-3214 |
| Website: | https://www.charteroak.org |
| Branches: | 15 branch locations |
| Members: | 87,726 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 3413 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1939 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,548,169,661 |
| CEO/Manager: | Brian A Orenstein |
| Chairperson: | Guy Henry |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 142,865,467 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 643,486,574 |
| Unsecured Loans | 5,799,697 |
| Other Loans | 283,693,569 |
| TOTAL LOANS | 938,854,785 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -5,177,540 |
| Land And Building | 26,994,483 |
| Other Fixed Assets | 1,588,678 |
| NCUSIF Deposit | 13,009,002 |
| All Other Assets | 12,556 |
| TOTAL ASSETS | 1,548,169,661 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 65,500,000 |
| Accounts Payable & Other Liabilities | 23,200,230 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 383,962,356 |
| Regular shares | 340,666,447 |
| All Other Shares & Deposits | 627,446,730 |
| TOTAL SHARES & DEPOSITS | 1,352,075,534 |
| TOTAL LIABILITIES | 1,441,077,402 |
| Regular Reserve | 0 |
| Other Reserves | -53,368,032 |
| Undivided Earnings | 160,460,291 |
| TOTAL EQUITY | 107,092,259 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,548,169,661 |
| INCOME & EXPENSE | |
| Loan Income | 36,546,189 |
| Investment Income | 12,185,466 |
| Other Income | 10,981,633 |
| Total Employee Compensation & Benefits | 20,299,557 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 18,372,534 |
| Non-operating Income & (Expense) | 6,411,348 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 509,340 |
| Cost of Funds | 12,719,118 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 14,695,559 |
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