Dec, 31, 2023 — CONNECT CREDIT UNION is a federally insured state chartered credit union headquartered in FORT LAUDERDALE, FL with 3 branch locations and about $95.85 million in total assets. Opened 115 years ago in 1909, CONNECT CREDIT UNION has about 5,547 members and employs 21 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | CONNECT CREDIT UNION |
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Address: (Main Office) | 3400 W Commercial Blvd FORT LAUDERDALE, FL 33309 |
Phone: | (954) 730-2047 |
Fax: | (954) 777-4220 |
Website: | https://www.connectcu.org |
Branches: | 3 branch locations |
Members: | 5,547 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 67342 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1909 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $95,850,004 |
CEO/Manager: | Scott A Meyer |
Chairperson: | Howard Webb |
ASSETS: | $ Amount |
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Cash & Equivalents | 4,517,221 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 10,287,191 |
Unsecured Loans | 5,231,673 |
Other Loans | 57,210,710 |
TOTAL LOANS | 72,729,573 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -596,133 |
Land And Building | 2,045,149 |
Other Fixed Assets | 432,509 |
NCUSIF Deposit | 849,134 |
All Other Assets | 60,187 |
TOTAL ASSETS | 95,850,004 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 1,691,713 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 15,594,685 |
Regular shares | 34,398,504 |
All Other Shares & Deposits | 34,065,669 |
TOTAL SHARES & DEPOSITS | 84,058,859 |
TOTAL LIABILITIES | 85,750,572 |
Regular Reserve | 0 |
Other Reserves | -866,795 |
Undivided Earnings | 10,966,227 |
TOTAL EQUITY | 10,099,432 |
TOTAL LIABILITIES, SHARES, & EQUITY | 95,850,004 |
INCOME & EXPENSE | |
Loan Income | 3,360,939 |
Investment Income | 729,250 |
Other Income | 396,466 |
Total Employee Compensation & Benefits | 2,043,294 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,736,985 |
Non-operating Income & (Expense) | 588,325 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 305,000 |
Cost of Funds | 747,954 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 688,359 |
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