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CONNECTION CREDIT UNION

Dec, 31, 2021 — CONNECTION CREDIT UNION is a federally insured state chartered credit union headquartered in SILVERDALE, WA with 1 branch location and about $41.83 million in total assets. Opened 64 years ago in 1958, CONNECTION CREDIT UNION has about 3,430 members and employs 17 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)
10200 Silverdale Way NW
SILVERDALE, WA 98383
Phone:(360) 307-6400
Fax:(360) 307-6440
Website:https://connectioncu.org
Branches:1 branch locations
Members:3,430
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, 2021
FHLB Member:No
Low Income Designation:No
Assets:$41,833,956
CEO/Manager:Scott Prior
Chairperson:Douglas Bear

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 7,954,988
TOTAL INVESTMENTS 2,718,618
Loans Held for Sale 0
 
 Real Estate Loans 9,083,772
 Unsecured Loans 1,158,232
 Other Loans 17,856,112
 TOTAL LOANS 28,098,116
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -160,911
 Land And Building 978,468
 Other Fixed Assets 45,891
 NCUSIF Deposit 309,616
 All Other Assets 1,889,170
  TOTAL ASSETS 41,833,956
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities -143,245
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 8,559,052
 Regular shares 22,541,009
 All Other Shares & Deposits 6,529,927
  TOTAL SHARES & DEPOSITS 37,629,988
  TOTAL LIABILITIES 37,486,743
 Regular Reserve 763,321
 Other Reserves -29,724
 Undivided Earnings 3,613,616
  TOTAL EQUITY 4,347,213
  TOTAL LIABILITIES, SHARES, & EQUITY 41,833,956
INCOME & EXPENSE  
 Loan Income 1,419,694
 Investment Income 32,760
 Other Income 99,605
 Total Employee Compensation & Benefits 773,667
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 828,535
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 27,299
 Cost of Funds 32,789
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 229,481
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