Dec, 31, 2023 — NUTMEG STATE FINANCIAL CREDIT UNION is a federally insured state chartered credit union headquartered in ROCKY HILL, CT with 10 branch locations and about $584.72 million in total assets. Opened 89 years ago in 1935, NUTMEG STATE FINANCIAL CREDIT UNION has about 43,332 members and employs 105 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: | https://www.nutmegstatefcu.org |
| Branches: | 10 branch locations |
| Members: | 43,332 |
| 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, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $584,719,438 |
| CEO/Manager: | John D Holt |
| Chairperson: | Luis Ramos |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 47,867,257 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 298,892,064 |
| Unsecured Loans | 38,034,968 |
| Other Loans | 109,906,785 |
| TOTAL LOANS | 446,833,817 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,978,033 |
| Land And Building | 5,770,526 |
| Other Fixed Assets | 9,291,953 |
| NCUSIF Deposit | 4,463,228 |
| All Other Assets | 0 |
| TOTAL ASSETS | 584,719,438 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 15,000,000 |
| Accounts Payable & Other Liabilities | 14,322,246 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 84,446,344 |
| Regular shares | 121,953,796 |
| All Other Shares & Deposits | 276,709,429 |
| TOTAL SHARES & DEPOSITS | 483,109,569 |
| TOTAL LIABILITIES | 512,672,465 |
| Regular Reserve | 0 |
| Other Reserves | 6,021,492 |
| Undivided Earnings | 66,025,481 |
| TOTAL EQUITY | 72,046,973 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 584,719,438 |
| INCOME & EXPENSE | |
| Loan Income | 21,617,920 |
| Investment Income | 3,290,189 |
| Other Income | 7,252,001 |
| Total Employee Compensation & Benefits | 13,057,249 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 12,417,573 |
| Non-operating Income & (Expense) | -266,047 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 853,123 |
| Cost of Funds | 5,714,494 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,043,835 |
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