Dec, 31, 2023 — CONNECTED CREDIT UNION is a federally insured state chartered credit union headquartered in AUGUSTA, ME with 2 branch locations and about $118.98 million in total assets. Opened 57 years ago in 1967, CONNECTED CREDIT UNION has about 8,186 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: | CONNECTED CREDIT UNION |
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Address: (Main Office) | 85 Civic Center Drive AUGUSTA, ME 04330 |
Phone: | (207) 623-3857 |
Fax: | (207) 622-7258 |
Website: | https://www.connectedcreditunion.org |
Branches: | 2 branch locations |
Members: | 8,186 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 62976 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1967 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $118,978,135 |
CEO/Manager: | Cathy Bond |
Chairperson: | Patricia Suga |
ASSETS: | $ Amount |
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Cash & Equivalents | 8,827,674 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 17,318,086 |
Unsecured Loans | 2,708,771 |
Other Loans | 32,506,090 |
TOTAL LOANS | 52,532,947 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -347,188 |
Land And Building | 2,207,619 |
Other Fixed Assets | 110,499 |
NCUSIF Deposit | 1,053,149 |
All Other Assets | 0 |
TOTAL ASSETS | 118,978,135 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 617,794 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 19,421,916 |
Regular shares | 46,137,181 |
All Other Shares & Deposits | 40,183,803 |
TOTAL SHARES & DEPOSITS | 105,742,900 |
TOTAL LIABILITIES | 106,360,694 |
Regular Reserve | 0 |
Other Reserves | 5,218,003 |
Undivided Earnings | 7,399,438 |
TOTAL EQUITY | 12,617,441 |
TOTAL LIABILITIES, SHARES, & EQUITY | 118,978,135 |
INCOME & EXPENSE | |
Loan Income | 3,122,217 |
Investment Income | 1,410,872 |
Other Income | 1,075,305 |
Total Employee Compensation & Benefits | 1,940,951 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,830,005 |
Non-operating Income & (Expense) | -1,860 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 165,000 |
Cost of Funds | 744,888 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 1,077,065 |
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