Dec, 31, 2021 — NUTMEG STATE FINANCIAL CREDIT UNION is a federally insured state chartered credit union headquartered in ROCKY HILL, CT with 11 branch locations and about $515.84 million in total assets. Opened 87 years ago in 1935, NUTMEG STATE FINANCIAL CREDIT UNION has about 41,140 members and employs 97 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | NUTMEG STATE FINANCIAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 500 Enterprise Dr Ste 4A ROCKY HILL, CT 06067 |
| Phone: | (860) 513-5000 |
| Fax: | (860) 513-5030 |
| Website: | http://www.nutmegstatefcu.org |
| Branches: | 11 branch locations |
| Members: | 41,140 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68657 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | Dec 01, 2020 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $515,835,067 |
| CEO/Manager: | John D Holt |
| Chairperson: | Luis Ramos |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 45,822,009 |
| TOTAL INVESTMENTS | 76,032,124 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 267,536,876 |
| Unsecured Loans | 34,922,524 |
| Other Loans | 66,775,900 |
| TOTAL LOANS | 369,235,300 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,277,249 |
| Land And Building | 6,065,011 |
| Other Fixed Assets | 3,980,044 |
| NCUSIF Deposit | 4,478,484 |
| All Other Assets | 12,499,344 |
| TOTAL ASSETS | 515,835,067 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 10,563,265 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 92,048,383 |
| Regular shares | 123,876,664 |
| All Other Shares & Deposits | 218,040,075 |
| TOTAL SHARES & DEPOSITS | 433,965,122 |
| TOTAL LIABILITIES | 444,528,387 |
| Regular Reserve | 6,134,482 |
| Other Reserves | 5,816,865 |
| Undivided Earnings | 59,355,333 |
| TOTAL EQUITY | 71,306,680 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 515,835,067 |
| INCOME & EXPENSE | |
| Loan Income | 16,237,063 |
| Investment Income | 1,183,054 |
| Other Income | 8,386,846 |
| Total Employee Compensation & Benefits | 11,373,402 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 11,413,470 |
| Non-operating Income & (Expense) | -264,500 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -35,266 |
| Cost of Funds | 1,645,097 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 4,161,100 |
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