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National Credit Union Service Organization

CONNECTION CREDIT UNION

Mar, 31, 2021 — CONNECTION CREDIT UNION is a federally insured state chartered credit union headquartered in Silverdale, WA with 1 branch location and about $36.49 million in total assets. Opened 63 years ago in 1958, CONNECTION CREDIT UNION has about 3,631 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:CONNECTION CREDIT UNION
Address:
(Main Office)
PO Box 3990
Silverdale, WA 98383
Phone:(360) 307-6400
Fax:(360) 307-6440
Website:https://connectioncu.org
Branches:1 branch locations
Members:3,631
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:68254
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1958
Last Audited:Jun 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$36,489,011
CEO/Manager:Scott Prior
Chairperson:Douglas Bear

Call Report

  • Indirect Consumer Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Check Cashing
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 4,190,028
TOTAL INVESTMENTS 3,459,137
Loans Held for Sale 0
 
 Real Estate Loans 8,025,243
 Unsecured Loans 994,459
 Other Loans 17,907,000
 TOTAL LOANS 26,926,702
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -241,331
 Land And Building 993,025
 Other Fixed Assets 33,174
 NCUSIF Deposit 309,616
 All Other Assets 818,660
  TOTAL ASSETS 36,489,011
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities -165,051
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 7,477,197
 Regular shares 20,483,729
 All Other Shares & Deposits 4,693,377
  TOTAL SHARES & DEPOSITS 32,654,303
  TOTAL LIABILITIES 32,489,252
 Regular Reserve 763,321
 Other Reserves -161,627
 Undivided Earnings 3,398,065
  TOTAL EQUITY 3,999,759
  TOTAL LIABILITIES, SHARES, & EQUITY 36,489,011
INCOME & EXPENSE  
 Loan Income 346,121
 Investment Income 8,743
 Other Income 23,449
 Total Employee Compensation & Benefits 191,842
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 190,751
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 34,286
 Cost of Funds 8,111
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 13,930
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