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Overview / Commentary
360-307-6400
10200 Silverdale Way NW
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 3,128th largest credit union in the nation. It was established in 1958 and as of March of 2014, it had grown to 12 employees and 2,946 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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Health

Data for Q1 2014

Institution Health

B+
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

GRADE:
A+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Connection Credit Union had $119,000 in non-current loans and owned real-estate with $3.98 million in equity and loan loss allowances on hand to cover it. This gives Connection Credit Union a Texas Ratio of 2.99% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for Connection Credit Union decreased slightly from 3.74% as of March 31, 2013 to 2.99% as of March 31, 2014, resulting in a positive change of 20.04%.This indicates that the balance sheet and financial strength for Connection Credit Union has improved slightly in recent periods.

Deposit Growth

GRADE:
A

In the past year, Connection Credit Union has increased its total deposits by $723,000, resulting in 3.26% 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.

Capitalization

GRADE:
A+

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 $26.82 million in assets with $3.98 million in equity, resulting in a capitalization level of 14.86%, which is excellent.

Institution Statistics

Overall
NCUA #68254
Year Chartered1958
Employees12
Primary Regulator
Assets and Liabilities
Assets$26.82 million
Loans$15.37 million
Deposits$22.88 million
Equity Capital$3.71 million
Loan Loss Allowance$277,000
Unbacked Noncurrent Loans$119,000
Real Estate Owned$0
Historic Data - March 2013
Assets$26.45 million
Equity Capital$4.02 million
Loan Loss Allowance$73,000
Unbacked Noncurrent Loans$119,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.55%
Return on Assets0.39%
Return on Equity2.81%
Interest Income$266,000
Rates
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Connection Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
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

DetailsAPYMINMAXPRODUCT
5.12%-$750Youth Money Market
0.10%$2,500-Money Market Account

Connection Credit Union CD Rates

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


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