Dec, 31, 2023 — CONNECTION CREDIT UNION is a federally insured state chartered credit union headquartered in SILVERDALE, WA with 1 branch location and about $39.75 million in total assets. Opened 66 years ago in 1958, CONNECTION CREDIT UNION has about 3,460 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: | 3,460 |
| 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, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $39,750,135 |
| CEO/Manager: | Scott Prior |
| Chairperson: | Douglas Bear |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,465,261 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 15,058,827 |
| Unsecured Loans | 1,875,324 |
| Other Loans | 15,215,168 |
| TOTAL LOANS | 32,149,319 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -340,163 |
| Land And Building | 939,648 |
| Other Fixed Assets | 60,583 |
| NCUSIF Deposit | 347,078 |
| All Other Assets | 131,564 |
| TOTAL ASSETS | 39,750,135 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 392,832 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 7,659,672 |
| Regular shares | 19,095,359 |
| All Other Shares & Deposits | 7,821,222 |
| TOTAL SHARES & DEPOSITS | 34,576,253 |
| TOTAL LIABILITIES | 34,969,085 |
| Regular Reserve | 0 |
| Other Reserves | -144,605 |
| Undivided Earnings | 4,925,655 |
| TOTAL EQUITY | 4,781,050 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 39,750,135 |
| INCOME & EXPENSE | |
| Loan Income | 2,049,366 |
| Investment Income | 119,644 |
| Other Income | 119,140 |
| Total Employee Compensation & Benefits | 994,170 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 940,541 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 168,419 |
| Cost of Funds | 104,576 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 292,056 |
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