Jun, 30, 2024 — CONNECTION CREDIT UNION is a federally insured state chartered credit union headquartered in SILVERDALE, WA with 1 branch location and about $43.01 million in total assets. Opened 66 years ago in 1958, CONNECTION CREDIT UNION has about 3,476 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: | 3,476 |
| 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, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $43,007,635 |
| CEO/Manager: | Scott Prior |
| Chairperson: | Douglas Bear |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,413,352 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 12,942,265 |
| Unsecured Loans | 1,573,658 |
| Other Loans | 17,641,193 |
| TOTAL LOANS | 32,157,116 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -121,735 |
| Land And Building | 963,910 |
| Other Fixed Assets | 69,575 |
| NCUSIF Deposit | 366,080 |
| All Other Assets | 15,264 |
| TOTAL ASSETS | 43,007,635 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 233,922 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 8,972,350 |
| Regular shares | 24,043,800 |
| All Other Shares & Deposits | 5,146,575 |
| TOTAL SHARES & DEPOSITS | 38,162,725 |
| TOTAL LIABILITIES | 38,396,647 |
| Regular Reserve | 0 |
| Other Reserves | -29,724 |
| Undivided Earnings | 4,640,712 |
| TOTAL EQUITY | 4,610,988 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 43,007,635 |
| INCOME & EXPENSE | |
| Loan Income | 1,180,512 |
| Investment Income | 65,054 |
| Other Income | 91,018 |
| Total Employee Compensation & Benefits | 674,537 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 749,795 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -60,866 |
| Cost of Funds | 21,015 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 263,775 |
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