Connects Federal Credit Union

Overview / Commentary

www.connectsfcu.org

804-756-5000

7700 Shrader Rd
Richmond, VA 23228

Connects Federal Credit Union is headquartered in Richmond and is the 48^th largest credit union in the state of Virginia. It is also the 1,849^th largest credit union in the nation. It was established in 1950 and as of March of 2022, it had grown to 20 employees and 8,248 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, volunteers, or goes to school in the City of Richmond or Henrico, Hanover, or Chesterfield counties.
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Health

B+

Data as of Q1 2022

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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. 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	0.34%
Return on Equity - YTD	6.18%
Annual Interest Income	$587.00K

Assets and Liabilities
Assets	Q1 2022vs Q1 2021	$98.1MM$90.3MM
Loans	Q1 2022vs Q1 2021	$37.9MM$36.4MM
Deposits	Q1 2022vs Q1 2021	$91.4MM$84.1MM
Equity Capital	Q1 2022vs Q1 2021	$5.3MM$6.0MM
Loan Loss Allowance	Q1 2022vs Q1 2021	$235.00K$332.00K
Unbacked Noncurrent Loans	Q1 2022vs Q1 2021	$123.00K$89.00K
Real Estate Owned	Q1 2022vs Q1 2021	$0$0

Rates

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Savings
Money Market
CD
IRA

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Always verify rates and promotions with the bank or credit union. We are not Connects Federal Credit Union; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Connects Federal Credit Union Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.25%	-	-	IRA Share Account
0.03%	$100	-	Regular Share Account
0.03%	-	-	Vacation Club
0.03%	-	-	Christmas Club
0.03%	$5	-	Youth Account

Connects Federal Credit Union Money Market Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.15%^*	$10k^*	-	Money Management
OTHER TIERS: 0.10% → $2.5k - $10k

Connects Federal Credit Union CD Rates

APY	MIN	MAX	ACCOUNT NAME
0.45%	$1k	-	3 Year Share Certificate
0.35%	$1k	-	2 Year Share Certificate
0.25%	$1k	-	1 Year Share Certificate
0.20%	$500	-	6 Month Share Certificate

Connects Federal Credit Union IRA Rates

APY	MIN	MAX	ACCOUNT NAME
0.45%	$1k	-	3 Year IRA Share Certificate
0.35%	$1k	-	2 Year IRA Share Certificate
0.25%	$1k	-	1 Year IRA Share Certificate

Locations

Connects Federal Credit Union Locations
Branch Office	7700 Shrader Rd	Richmond, VA 23228
Branch Office	9280 Chamberlayne Rd Ste 100	Mechanicsville, VA 23116

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