Sep, 30, 2025 — CONNECTS FEDERAL CREDIT UNION is a federal credit union headquartered in RICHMOND, VA with 3 branch locations and about $104.83 million in total assets. Opened 76 years ago in 1950, CONNECTS FEDERAL CREDIT UNION has about 15,558 members and employs 24 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CONNECTS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 7700 Shrader Rd RICHMOND, VA 23228 |
| Phone: | (804) 756-5000 |
| Fax: | (804) 756-5040 |
| Website: | https://www.connectsfcu.org |
| Branches: | 3 branch locations |
| Members: | 15,558 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 6670 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1950 |
| Last Audited: | Jun 01, 2024 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $104,832,578 |
| CEO/Manager: | Karen M Griscom |
| Chairperson: | Daniel VanDervort |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 6,593,487 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 11,206,606 |
| Unsecured Loans | 25,123,826 |
| Other Loans | 38,868,362 |
| TOTAL LOANS | 75,198,794 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -680,210 |
| Land And Building | 1,924,975 |
| Other Fixed Assets | 1,814,409 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 749,017 |
| All Other Assets | 0 |
| TOTAL ASSETS | 104,832,578 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 97,750 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | -95,595 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 14,460,300 |
| Regular shares | 35,718,107 |
| All Other Shares & Deposits | 49,177,830 |
| TOTAL SHARES & DEPOSITS | 99,356,237 |
| TOTAL LIABILITIES | 99,358,392 |
| Regular Reserve | 0 |
| Other Reserves | -627,332 |
| Undivided Earnings | 6,101,518 |
| TOTAL EQUITY | 5,474,186 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 104,832,578 |
| INCOME & EXPENSE | |
| Loan Income | 2,850,212 |
| Investment Income | 439,273 |
| Other Income | 667,039 |
| Total Employee Compensation & Benefits | 1,523,095 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 2,540,214 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 700,331 |
| Cost of Funds | 646,302 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -928,113 |
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