Dec, 31, 2021 — CONNECTED CREDIT UNION is a federally insured state chartered credit union headquartered in AUGUSTA, ME with 3 branch locations and about $117.33 million in total assets. Opened 55 years ago in 1967, CONNECTED CREDIT UNION has about 8,396 members and employs 20 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: | http://www.connectedcreditunion.org |
| Branches: | 3 branch locations |
| Members: | 8,396 |
| 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: | $117,326,918 |
| CEO/Manager: | Richard P Lachance |
| Chairperson: | John Cassidy |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 12,136,349 |
| TOTAL INVESTMENTS | 42,657,737 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 17,254,090 |
| Unsecured Loans | 2,457,110 |
| Other Loans | 33,909,091 |
| TOTAL LOANS | 53,620,291 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -157,606 |
| Land And Building | 2,352,784 |
| Other Fixed Assets | 138,029 |
| NCUSIF Deposit | 995,366 |
| All Other Assets | 5,583,968 |
| TOTAL ASSETS | 117,326,918 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 406,543 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 18,822,616 |
| Regular shares | 52,844,650 |
| All Other Shares & Deposits | 34,595,106 |
| TOTAL SHARES & DEPOSITS | 106,262,372 |
| TOTAL LIABILITIES | 106,668,915 |
| Regular Reserve | 1,288,435 |
| Other Reserves | 5,218,003 |
| Undivided Earnings | 4,151,565 |
| TOTAL EQUITY | 10,658,003 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 117,326,918 |
| INCOME & EXPENSE | |
| Loan Income | 2,665,337 |
| Investment Income | 442,006 |
| Other Income | 970,227 |
| Total Employee Compensation & Benefits | 1,555,799 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,815,783 |
| Non-operating Income & (Expense) | -2,533 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 32,300 |
| Cost of Funds | 282,329 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 518,349 |
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