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FIRST CONNECTICUT CREDIT UNION

Mar, 31, 2022 — FIRST CONNECTICUT CREDIT UNION is a federally insured state chartered credit union headquartered in WALLINGFORD, CT with 2 branch locations and about $50.16 million in total assets. Opened 43 years ago in 1979, FIRST CONNECTICUT CREDIT UNION has about 11,337 members and employs 15 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:FIRST CONNECTICUT CREDIT UNION
Address:
(Main Office)
159 S Turnpike Rd
WALLINGFORD, CT 06492
Phone:(203) 269-8718
Fax:
Website:http://www.firstconnecticut.org
Branches:2 branch locations
Members:11,337
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:66062
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1979
Last Audited:Jun 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$50,157,902
CEO/Manager:Susan J Brown
Chairperson:Carl A Skudlarek

Call Report

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 4,300,467
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 1,403,696
 Unsecured Loans 2,296,350
 Other Loans 34,549,300
 TOTAL LOANS 38,249,346
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -317,238
 Land And Building 647,033
 Other Fixed Assets 186,632
 NCUSIF Deposit 404,491
 All Other Assets 0
  TOTAL ASSETS 50,157,902
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 182,397
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 4,106,837
 Regular shares 30,609,227
 All Other Shares & Deposits 11,381,055
  TOTAL SHARES & DEPOSITS 46,097,119
  TOTAL LIABILITIES 46,279,516
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 3,878,386
  TOTAL EQUITY 3,878,386
  TOTAL LIABILITIES, SHARES, & EQUITY 50,157,902
INCOME & EXPENSE  
 Loan Income 639,663
 Investment Income 5,151
 Other Income 50,244
 Total Employee Compensation & Benefits 239,833
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 234,246
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 120,000
 Cost of Funds 14,601
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 186,584
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