Jun, 30, 2024 — 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 |
| 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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