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Overview / Commentary
P.O. Box 3990
Silverdale, WA 98383

Connection Credit Union is headquartered in Silverdale and is the 74th largest credit union in the state of Washington. It is also the 3,172nd largest credit union in the nation. It was established in 1958 and as of December of 2013, it had grown to 12 employees and 2,885 members. Connection Credit Union's money market rates are 12X the national average, and it has a B+ health rating.

Field of Membership Restrictions

You are eligible to join our credit union if you live, work, worship or attend school in Kitsap County. - See Details

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Data for Q4 2013

Institution Health

Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Connection Credit Union has a low asset base.

Texas Ratio


The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Connection Credit Union had $200,000 in non-current loans and owned real-estate with $3.96 million in equity and loan loss allowances on hand to cover it. This gives Connection Credit Union a Texas Ratio of 5.05% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Connection Credit Union experienced no significant changes from 4.28% as of December 31, 2012 to 5.05% as of December 31, 2013, resulting in a negative change of 17.98%. This indicates that the balance sheet and financial strength for Connection Credit Union has had no significant changes in recent periods.

Deposit Growth


In the past year, Connection Credit Union has increased its total deposits by $923,000, resulting in 4.48% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Connection Credit Union has shown is excellent.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Connection Credit Union has $25.43 million in assets with $3.96 million in equity, resulting in a capitalization level of 15.59%, which is excellent.

Institution Statistics

NCUA #68254
Year Chartered1958
Primary Regulator
Assets and Liabilities
Assets$25.43 million
Loans$14.98 million
Deposits$21.54 million
Equity Capital$3.68 million
Loan Loss Allowance$284,000
Unbacked Noncurrent Loans$200,000
Real Estate Owned$0
Historic Data - December 2012
Assets$24.82 million
Equity Capital$4.01 million
Loan Loss Allowance$78,000
Unbacked Noncurrent Loans$200,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin5.83%
Return on Assets-1.31%
Return on Equity-9.02%
Interest Income$998,000
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Connection Credit Union Savings Account Rates

1.06%$50-IRA Share Savings
0.05%$25-Regular Share Savings
0.05%--Youth Share Savings
0.05%--Star Savings
0.05%$25-Business Savings
0.05%$25-Organization Savings

Connection Credit Union Money Market Rates

5.12%-$750Youth Money Market
0.15%$2,500-Money Market Account

Connection Credit Union CD Rates

0.25%$1k-12 Month Share Certificate
0.20%$1k-9 Month Share Certificate
0.15%$1k-6 Month Share Certificate

Connection Credit Union Locations
Branch Office10200 Silverdale Way NWSilverdale, WA 98383
Branch Office911 Park AveBremerton, WA 98337-1550
Branch Office1026 Sidney Ave Room 145Port Orchard, WA 98366