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 53^rd largest credit union in the state of Virginia. It is also the 1,932^nd largest credit union in the nation. It was established in 1950 and as of December of 2019, it had grown to 24 employees and 9,046 members at 3 locations. Connects Federal Credit Union has a B health rating.

Field of Membership Restrictions

Must live, work, worship, attend school or volunteer in the Greater Richmond Community (consists of the City of Richmond and the counties of Chesterfield, Hanover and Henrico.)
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Health

Data as of Q4 2019

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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	24
Primary Regulator

Profit Margin
Return on Assets - YTD	0.25%
Return on Equity - YTD	3.03%
Annual Interest Income	$2.7MM

Assets and Liabilities
Assets	Q4 2019vs Q4 2018	$74.1MM$75.1MM
Loans	Q4 2019vs Q4 2018	$32.4MM$34.0MM
Deposits	Q4 2019vs Q4 2018	$67.6MM$69.0MM
Equity Capital	Q4 2019vs Q4 2018	$6.2MM$5.8MM
Loan Loss Allowance	Q4 2019vs Q4 2018	$446.00K$573.00K
Unbacked Noncurrent Loans	Q4 2019vs Q4 2018	$360.00K$472.00K
Real Estate Owned	Q4 2019vs Q4 2018	$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
0.40%	-	-	IRA Share Account
0.10%	$100	-	Regular Share Account
0.10%	-	-	Vacation Club
0.10%	-	-	Christmas Club
0.10%	$5	-	Youth Account

Connects Federal Credit Union Money Market Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.35%^*	$10k^*	-	Money Management
OTHER TIERS: 0.15% → $2.5k - $10k

Connects Federal Credit Union CD Rates

APY	MIN	MAX	ACCOUNT NAME
1.00%	$1k	-	3 Year Share Certificate
0.82%	$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

APY	MIN	MAX	ACCOUNT NAME
1.00%	$1k	-	3 Year IRA Share Certificate
0.82%	$1k	-	2 Year IRA Share Certificate
0.50%	$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
Branch Office	9960 Midlothian Turnpike	North Chesterfield, VA 23235

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