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.
| 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 |
| 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 |
| ↑ Back to Top | |