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Connect Credit Union


Overview / Commentary
www.connectcu.org
954-730-2047
3400 W Commercial Blvd
Fort lauderdale, FL 33309

Connect Credit Union is headquartered in Fort lauderdale and is the 75th largest credit union in the state of Florida. It is also the 1,835th largest credit union in the nation. It was established in 1909 and as of June of 2023, it had grown to 22 employees and 5,670 members at 4 locations. Connect Credit Union's CD rates are 5X the national average, and it has a B health rating.

Field of Membership Restrictions

Membership in Connect Credit Union of Florida is open to those who live or work in the Florida counties of Brevard, Broward, Charlotte, Citrus, Collier, De Soto, Duval, Flagler, Glades, Hardee, Hernando, Hillsborough, Indian River, Lake, Lee, Manatee, Martin, Miami-Dade, Monroe, Okeechobee, Orange, Osceola, Palm Beach, Pasco, Pinellas, Polk, Sarasota, Seminole, St Johns, St Lucie, or Volusia. Current employees of the State of Florida, retirees of the Florida Department of Transportation, and employees of firms who have a current contract with the Florida Department of Transportation also qualify for membership.
See current membership details

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Health
B

Data as of Q2 2023

Learn why bank health matters
Additional Factors: Institutions with a small asset base, a short operating history, or negative return on assets can represent an instability risk beyond what their financial ratios indicate. Connect Credit Union has a relatively low asset base.

Health Grade Components

Overall
NCUA #67342
Year Chartered1909
Employees22
Primary Regulator
Profit Margin
Return on Assets - YTD0.59%
Return on Equity - YTD6.21%
Annual Interest Income$1.9MM
Assets and Liabilities
AssetsQ2 2023vs Q2 2022$98.8MM$98.9MM
LoansQ2 2023vs Q2 2022$68.0MM$64.6MM
DepositsQ2 2023vs Q2 2022$87.9MM$88.8MM
Equity CapitalQ2 2023vs Q2 2022$9.3MM$9.3MM
Loan Loss AllowanceQ2 2023vs Q2 2022$0$442.00K
Unbacked Noncurrent LoansQ2 2023vs Q2 2022$297.00K$84.00K
Real Estate OwnedQ2 2023vs Q2 2022$0$0
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Connect Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.20%--IRA Savings
0.10%--Club Savings
0.05%$100-Shares (Savings)

Connect Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.66%*$100k*-Money Market Account
OTHER TIERS: 1.00% → $2.5k - $10k | 1.36% → $10k - $25k | 1.41% → $25k - $50k | 1.51% → $50k - $100k

Connect Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.17%*-$1kE-Checking - Qualifying
OTHER TIERS: 0.05% → $25k+ | 0.50% → $1k - $25k
0.03%--Sharedraft (Checking)

Connect Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.75%*$20k*-12 Months CD
OTHER TIERS: 4.70% → $1k - $20k
4.54%*$20k*-6 Months CD
OTHER TIERS: 4.49% → $1k - $20k
4.44%*$20k*-24 Months CD
OTHER TIERS: 4.39% → $1k - $20k
4.33%*$20k*-36 Months CD
OTHER TIERS: 4.28% → $1k - $20k
3.61%*$20k*-60 Months CD
OTHER TIERS: 3.45% → $1k - $20k

Connect Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.75%*$20k*-12 Months IRA
OTHER TIERS: 4.70% → $1k - $20k
4.54%*$20k*-6 Months IRA
OTHER TIERS: 4.49% → $1k - $20k
4.44%*$20k*-24 Months IRA
OTHER TIERS: 4.39% → $1k - $20k
4.33%*$20k*-36 Months IRA
OTHER TIERS: 4.28% → $1k - $20k
3.61%*$20k*-60 Months IRA
OTHER TIERS: 3.45% → $1k - $20k
Locations


Connect Credit Union Locations
Branch Office1993 S Kanner HwyStuart, FL 34994
Branch Office1000 NW 111th AveMiami, FL 33172-5800
Branch Office719 S Woodland BlvdDeland, FL 32720
Branch Office3400 W Commercial BlvdFort lauderdale, FL 33309

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