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National Credit Union Service Organization

CONNECTION CREDIT UNION

Jun, 30, 2023 — 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

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
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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