Dec, 31, 2023 — COREPLUS FEDERAL CREDIT UNION is a federal credit union headquartered in NORWICH, CT with 7 branch locations and about $335.10 million in total assets. Opened 88 years ago in 1936, COREPLUS FEDERAL CREDIT UNION has about 29,357 members and employs 73 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | COREPLUS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 202 Salem Tpke NORWICH, CT 06360 |
| Phone: | (860) 886-0576 |
| Fax: | (860) 885-3538 |
| Website: | https://www.coreplus.org |
| Branches: | 7 branch locations |
| Members: | 29,357 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 1148 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1936 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $335,095,776 |
| CEO/Manager: | Ray Currier |
| Chairperson: | Jean Swift |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 24,765,185 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 79,514,080 |
| Unsecured Loans | 28,697,343 |
| Other Loans | 150,711,725 |
| TOTAL LOANS | 258,923,148 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,355,477 |
| Land And Building | 2,824,586 |
| Other Fixed Assets | 695,234 |
| NCUSIF Deposit | 2,931,142 |
| All Other Assets | 64,317 |
| TOTAL ASSETS | 335,095,776 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 17,972 |
| Notes & Interest Payable | 12,000,000 |
| Accounts Payable & Other Liabilities | 2,732,318 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 57,823,553 |
| Regular shares | 115,383,799 |
| All Other Shares & Deposits | 124,085,092 |
| TOTAL SHARES & DEPOSITS | 297,292,444 |
| TOTAL LIABILITIES | 312,052,179 |
| Regular Reserve | 0 |
| Other Reserves | -2,409,789 |
| Undivided Earnings | 25,453,386 |
| TOTAL EQUITY | 23,043,597 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 335,095,776 |
| INCOME & EXPENSE | |
| Loan Income | 12,788,846 |
| Investment Income | 1,835,201 |
| Other Income | 2,187,489 |
| Total Employee Compensation & Benefits | 5,691,447 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 6,312,253 |
| Non-operating Income & (Expense) | 86,044 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,840,077 |
| Cost of Funds | 2,648,083 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,007,010 |
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