Connects Federal Credit Union

Overview / Commentary
7700 Shrader Rd
Richmond, VA 23228

Connects Federal Credit Union is headquartered in Richmond and is the 51st largest credit union in the state of Virginia. It is also the 1,900th largest credit union in the nation. It was established in 1950 and as of June of 2021, it had grown to 20 employees and 8,475 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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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

NCUA #6670
Year Chartered1950
Primary Regulator
Profit Margin
Return on Assets - YTD0.28%
Return on Equity - YTD4.08%
Annual Interest Income$1.2MM
Assets and Liabilities
AssetsQ2 2021vs Q2 2020$91.4MM$81.6MM
LoansQ2 2021vs Q2 2020$36.0MM$31.7MM
DepositsQ2 2021vs Q2 2020$85.2MM$75.1MM
Equity CapitalQ2 2021vs Q2 2020$6.2MM$6.4MM
Loan Loss AllowanceQ2 2021vs Q2 2020$339.00K$344.00K
Unbacked Noncurrent LoansQ2 2021vs Q2 2020$60.00K$219.00K
Real Estate OwnedQ2 2021vs Q2 2020$0$0
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* 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

0.35%--IRA Share Account
0.05%$100-Regular Share Account
0.05%--Vacation Club
0.05%--Christmas Club
0.05%$5-Youth Account

Connects Federal Credit Union Money Market Rates

0.30%*$10k*-Money Management
OTHER TIERS: 0.10% $2.5k - $10k

Connects Federal Credit Union CD Rates

0.90%$1k-3 Year Share Certificate
0.75%$1k-2 Year Share Certificate
0.50%$1k-1 Year Share Certificate
0.30%$500-6 Month Share Certificate

Connects Federal Credit Union IRA Rates

0.90%$1k-3 Year IRA Share Certificate
0.75%$1k-2 Year IRA Share Certificate
0.50%$1k-1 Year IRA Share Certificate

Connects Federal Credit Union Locations
Branch Office7700 Shrader RdRichmond, VA 23228
Branch Office9280 Chamberlayne Rd Ste 100Mechanicsville, VA 23116

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