Jun, 30, 2021 — CONNECTED CREDIT UNION is a federally insured state chartered credit union headquartered in AUGUSTA, ME with 3 branch locations and about $113.33 million in total assets. Opened 54 years ago in 1967, CONNECTED CREDIT UNION has about 8,475 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) | PO BOX 1096 AUGUSTA, ME 04330 |
| Phone: | (207) 623-3857 |
| Fax: | (207) 622-7258 |
| Website: | http://www.connectedcreditunion.org |
| Branches: | 3 branch locations |
| Members: | 8,475 |
| 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, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $113,329,637 |
| CEO/Manager: | Richard P Lachance |
| Chairperson: | John Cassidy |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 11,220,719 |
| TOTAL INVESTMENTS | 39,321,795 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 17,567,130 |
| Unsecured Loans | 2,294,375 |
| Other Loans | 34,121,726 |
| TOTAL LOANS | 53,983,231 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -128,126 |
| Land And Building | 2,400,260 |
| Other Fixed Assets | 145,751 |
| NCUSIF Deposit | 956,132 |
| All Other Assets | 5,429,875 |
| TOTAL ASSETS | 113,329,637 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 313,311 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 17,853,364 |
| Regular shares | 49,722,848 |
| All Other Shares & Deposits | 35,093,987 |
| TOTAL SHARES & DEPOSITS | 102,670,199 |
| TOTAL LIABILITIES | 102,983,510 |
| Regular Reserve | 1,288,435 |
| Other Reserves | 5,218,003 |
| Undivided Earnings | 3,839,689 |
| TOTAL EQUITY | 10,346,127 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 113,329,637 |
| INCOME & EXPENSE | |
| Loan Income | 1,333,281 |
| Investment Income | 201,001 |
| Other Income | 451,844 |
| Total Employee Compensation & Benefits | 782,086 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 916,380 |
| Non-operating Income & (Expense) | -1,248 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,000 |
| Cost of Funds | 157,698 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 206,473 |
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