Overview / Commentary
Connects Federal Credit Union is headquartered in Richmond and is the 49th largest credit union in the state of Virginia. It is also the 1,946th largest credit union in the nation. It was established in 1950 and as of March of 2025, it had grown to 20 employees and 8,892 members at 2 locations. Connects Federal Credit Union has a B health rating.
Field of Membership Restrictions
Connects Federal Credit Union is open to anyone who lives, works, worships, attends school, volunteers, or regularly does business in the Greater Richmond metro area including the City of Richmond or the Virginia counties of Chesterfield, Hanover, or Henrico.
See current membership details
Health
B
Data as of Q1 2025
Learn why bank health mattersAdditional 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. Connects Federal Credit Union has a relatively low asset base.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 6670 |
| Year Chartered | 1950 |
| Employees | 20 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 5.16% |
| Return on Equity - YTD | 60.75% |
| Annual Interest Income | $3.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2025vs Q1 2024 | $88.1MM$92.6MM |
| Loans | Q1 2025vs Q1 2024 | $48MM$45.3MM |
| Deposits | Q1 2025vs Q1 2024 | $79.5MM$86.4MM |
| Equity Capital | Q1 2025vs Q1 2024 | $7.3MM$5.1MM |
| Loan Loss Allowance | Q1 2025vs Q1 2024 | $473K$343K |
| Unbacked Noncurrent Loans | Q1 2025vs Q1 2024 | $509K$384K |
| Real Estate Owned | Q1 2025vs Q1 2024 | $0$0 |