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CHARTER OAK FEDERAL CREDIT UNION

Dec, 31, 2021 — CHARTER OAK FEDERAL CREDIT UNION is a federal credit union headquartered in WATERFORD, CT with 16 branch locations and about $1.55 billion in total assets. Opened 83 years ago in 1939, CHARTER OAK FEDERAL CREDIT UNION has about 84,624 members and employs 206 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: 211176998
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:http://www.charteroak.org
Branches:16 branch locations
Members:84,624
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, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$1,549,679,796
CEO/Manager:Brian A Orenstein
Chairperson:Guy Henry

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 89,425,364
TOTAL INVESTMENTS 518,423,485
Loans Held for Sale 0
 
 Real Estate Loans 575,029,348
 Unsecured Loans 15,005,638
 Other Loans 263,296,845
 TOTAL LOANS 858,418,621
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -7,432,615
 Land And Building 28,456,190
 Other Fixed Assets 2,276,157
 NCUSIF Deposit 12,154,718
 All Other Assets 47,957,876
  TOTAL ASSETS 1,549,679,796
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 25,500,000
 Accounts Payable & Other Liabilities 20,869,424
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 405,665,512
 Regular shares 364,651,169
 All Other Shares & Deposits 601,341,292
  TOTAL SHARES & DEPOSITS 1,371,657,973
  TOTAL LIABILITIES 1,418,027,397
 Regular Reserve 5,434,459
 Other Reserves -4,581,107
 Undivided Earnings 130,799,047
  TOTAL EQUITY 131,652,399
  TOTAL LIABILITIES, SHARES, & EQUITY 1,549,679,796
INCOME & EXPENSE  
 Loan Income 29,478,730
 Investment Income 4,702,833
 Other Income 12,176,953
 Total Employee Compensation & Benefits 18,099,556
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 14,343,414
 Non-operating Income & (Expense) -2,405,795
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 1,500,000
 Cost of Funds 6,076,777
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 13,058,256
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