Dec, 31, 2021 — CONNEX CREDIT UNION is a federally insured state chartered credit union headquartered in NORTH HAVEN, CT with 8 branch locations and about $868.57 million in total assets. Opened 82 years ago in 1940, CONNEX CREDIT UNION has about 64,580 members and employs 138 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: | http://www.connexcu.org |
| Branches: | 8 branch locations |
| Members: | 64,580 |
| 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: | $868,570,264 |
| CEO/Manager: | Francesco Mancini |
| Chairperson: | Janice Bryden |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 79,493,112 |
| TOTAL INVESTMENTS | 66,391,214 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 315,563,146 |
| Unsecured Loans | 14,989,346 |
| Other Loans | 338,282,351 |
| TOTAL LOANS | 700,262,442 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,653,456 |
| Land And Building | 7,188,405 |
| Other Fixed Assets | 1,653,925 |
| NCUSIF Deposit | 5,942,939 |
| All Other Assets | 12,291,683 |
| TOTAL ASSETS | 868,570,264 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 226,931 |
| Notes & Interest Payable | 20,004,736 |
| Accounts Payable & Other Liabilities | 5,436,501 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 124,855,507 |
| Regular shares | 205,592,760 |
| All Other Shares & Deposits | 432,454,480 |
| TOTAL SHARES & DEPOSITS | 762,902,747 |
| TOTAL LIABILITIES | 788,570,915 |
| Regular Reserve | 5,626,342 |
| Other Reserves | 929,960 |
| Undivided Earnings | 73,443,047 |
| TOTAL EQUITY | 79,999,349 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 868,570,264 |
| INCOME & EXPENSE | |
| Loan Income | 23,531,834 |
| Investment Income | 1,677,291 |
| Other Income | 3,633,899 |
| Total Employee Compensation & Benefits | 11,302,513 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 9,067,724 |
| Non-operating Income & (Expense) | -14,113 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,034,267 |
| Cost of Funds | 2,952,272 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 6,579,271 |
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