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National Credit Union Service Organization

FIRST CONNECTICUT CREDIT UNION

Jun, 30, 2023 — FIRST CONNECTICUT CREDIT UNION is a federally insured state chartered credit union headquartered in WALLINGFORD, CT with 2 branch locations and about $51.72 million in total assets. Opened 45 years ago in 1979, FIRST CONNECTICUT CREDIT UNION has about 11,327 members and employs 16 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:https://www.firstconnecticut.org
Branches:2 branch locations
Members:11,327
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:$51,724,640
CEO/Manager:Susan J Brown
Chairperson:Carl A Skudlarek

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 477,646
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 1,880,380
 Unsecured Loans 1,564,970
 Other Loans 44,043,591
 TOTAL LOANS 47,488,941
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -391,142
 Land And Building 626,273
 Other Fixed Assets 146,540
 NCUSIF Deposit 437,184
 All Other Assets 0
  TOTAL ASSETS 51,724,640
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,980,156
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 4,630,980
 Regular shares 29,862,712
 All Other Shares & Deposits 10,880,475
  TOTAL SHARES & DEPOSITS 45,374,167
  TOTAL LIABILITIES 47,354,323
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 4,370,317
  TOTAL EQUITY 4,370,317
  TOTAL LIABILITIES, SHARES, & EQUITY 51,724,640
INCOME & EXPENSE  
 Loan Income 2,107,632
 Investment Income 11,642
 Other Income 159,945
 Total Employee Compensation & Benefits 714,947
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 736,234
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 275,000
 Cost of Funds 58,843
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 678,515
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