Dec, 31, 2022 — CONNEX CREDIT UNION is a federally insured state chartered credit union headquartered in NORTH HAVEN, CT with 8 branch locations and about $932.67 million in total assets. Opened 83 years ago in 1940, CONNEX CREDIT UNION has about 67,465 members and employs 155 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CONNEX CREDIT UNION |
|---|---|
| Address: (Main Office) | PO Box 477 NORTH HAVEN, CT 06473-0477 |
| Phone: | (800) 278-6466 |
| Fax: | (203) 239-0434 |
| Website: | https://www.connexcu.org |
| Branches: | 8 branch locations |
| Members: | 67,465 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68511 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1940 |
| Last Audited: | Sep 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $932,666,985 |
| CEO/Manager: | Francesco Mancini |
| Chairperson: | Janice Bryden |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 18,754,863 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 340,494,322 |
| Unsecured Loans | 15,178,779 |
| Other Loans | 435,604,577 |
| TOTAL LOANS | 824,653,863 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,849,290 |
| Land And Building | 7,257,439 |
| Other Fixed Assets | 1,320,259 |
| NCUSIF Deposit | 6,324,352 |
| All Other Assets | 0 |
| TOTAL ASSETS | 932,666,985 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 321,713 |
| Notes & Interest Payable | 40,000,000 |
| Accounts Payable & Other Liabilities | 6,822,431 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 124,916,988 |
| Regular shares | 212,476,438 |
| All Other Shares & Deposits | 468,781,723 |
| TOTAL SHARES & DEPOSITS | 806,175,149 |
| TOTAL LIABILITIES | 853,319,293 |
| Regular Reserve | 0 |
| Other Reserves | 1,595,587 |
| Undivided Earnings | 77,752,105 |
| TOTAL EQUITY | 79,347,692 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 932,666,985 |
| INCOME & EXPENSE | |
| Loan Income | 19,196,520 |
| Investment Income | 1,163,565 |
| Other Income | 4,029,045 |
| Total Employee Compensation & Benefits | 8,795,490 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 6,767,077 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 626,574 |
| Cost of Funds | 2,681,278 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 4,309,058 |
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