Jun, 30, 2024 — CONNECTED CREDIT UNION is a federally insured state chartered credit union headquartered in AUGUSTA, ME with 2 branch locations and about $121.06 million in total assets. Opened 58 years ago in 1967, CONNECTED CREDIT UNION has about 8,334 members and employs 22 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CONNECTED CREDIT UNION |
|---|---|
| Address: (Main Office) | 85 Civic Center Drive AUGUSTA, ME 04330 |
| Phone: | (207) 623-3857 |
| Fax: | (207) 622-7258 |
| Website: | https://www.connectedcreditunion.org |
| Branches: | 2 branch locations |
| Members: | 8,334 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 62976 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1967 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $121,062,864 |
| CEO/Manager: | Richard P Lachance |
| Chairperson: | John Cassidy |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 9,379,115 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 17,350,064 |
| Unsecured Loans | 2,476,742 |
| Other Loans | 33,977,636 |
| TOTAL LOANS | 53,804,442 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -187,839 |
| Land And Building | 2,288,801 |
| Other Fixed Assets | 124,241 |
| NCUSIF Deposit | 1,022,754 |
| All Other Assets | 0 |
| TOTAL ASSETS | 121,062,864 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 318,322 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 19,902,273 |
| Regular shares | 54,288,171 |
| All Other Shares & Deposits | 35,292,516 |
| TOTAL SHARES & DEPOSITS | 109,482,960 |
| TOTAL LIABILITIES | 109,801,282 |
| Regular Reserve | 0 |
| Other Reserves | 5,218,003 |
| Undivided Earnings | 6,043,579 |
| TOTAL EQUITY | 11,261,582 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 121,062,864 |
| INCOME & EXPENSE | |
| Loan Income | 1,934,829 |
| Investment Income | 482,336 |
| Other Income | 776,569 |
| Total Employee Compensation & Benefits | 1,145,230 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,296,805 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 30,000 |
| Cost of Funds | 185,205 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 603,579 |
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