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Connection Credit Union

Overview
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Connection Credit Union is a federally insured state credit union based in Silverdale, Washington. It has been opened since 1958, for 62 years.

With around $29,190,000 in assets, Connection Credit Union is considered to be an average size credit union. It has 2 branches and 2 ATM locations.

About
Address Po Box 3990
Silverdale, Washington 98383
Website https://connectioncu.org
Phone (360) 307-6400
Fax (360) 307-6440
CEO Scott Prior
President of the Board Douglas Bear
Services Offered
Map
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Score Card
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62 years
Years in business
Opened in 1958
Well Capitalized
Net worth classification
Source: NCUA
4,084 members
Membership type: State chartered natural person credit union
Average number of members
303:1
Credit union member to staff ratio
303 per each FTE employee
Compared to 411:1 nationally
Lots of staff!
$29,187,891
Total assets
Average size
2 branches
Compared with an average of 4 nationally and 6 in Washington
Above average number of branches
0.05%
Savings interest rate
Compared to 0.3% nationally
10.00%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
Branches
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2 branches
Compared with an average of 4 nationally and 6 in Washington
Above average number of branches
Connection Credit Union Branch Locations

Connection Credit Union: Bremerton Office
911 Park Avenue
Bremerton, Washington 98337
No ATM
Connection Credit Union: Silverdale Office
10200 Silverdale Way NW
Silverdale, Washington 98383
ATM Available
Members
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4,084 members
Membership type: State chartered natural person credit union
Average number of members

With 4,084 members, the Connection Credit Union is considered to be a medium size credit union. It is larger than 52% of credit unions.

Fees
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$40
Average fee per member
The average fee per member at the Connection Credit Union is $40, which is comparable to most credit unions. This rate is lower than 57% of all credit unions.
Fees are average

Credit unions, like banks, charge members various fees, such as overdraft fees, ATM fees, credit card fees, inactivity or dormat account fees, and more.

The average fee per member gives you a general sense of how much you might pay in fees as a member of the Connection Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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303:1
Credit union member to staff ratio
303 per each FTE employee
Compared to 411:1 nationally
Lots of staff!
14 staff members
FTE (full-time equivalent)
41% of employees are part-time
10 full-time, 7 part-time

Connection Credit Union has 10 full-time staff members and 7 part-time staff members. The staff is comprised of part-time and full-time staff, with part-time staff approximately 41% of the workforce.

The number of members relative to staff members is an indication of how well staffed the credit union is. Connection Credit Union has around 303 members per staff, a low ratio compared to other credit unions. This is a well staffed credit union.

Assets
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$29,187,891
Total assets
Average size
Net worth
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Well Capitalized
Net worth classification
Source: NCUA
A well capitalized credit union has a net worth ratio of 7% or greater and also meets applicable risk-based net worth requirements, according to the National Credit Union Administration.
13.1%
Net worth ratio
A higher net worth ratio is better.
Compared to an average of 13.6% nationally

A credit union's net worth ratio is one of the most important metrics you should consider when deciding whether to join a credit union. Why? It's a measure of financial strength

The net worth ratio is equal to a credit union's net worth divided by its assets. According to the National Credit Union Administration, a minimum net worth ratio of 7% is required to be considered to be a well capitalized credit union.

Loans & leases
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$9,406
Average loan and lease size
Loan & lease sizes are average sized. They are bigger than at 44% of credit unions.

Connection Credit Union holds a total of $18,660,000 in loans and leases, which is about $9,406 per member on average.

Savings interest rate
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0.05%
Savings interest rate
Compared to 0.3% nationally

A credit union share account is an account at a credit union. It's called a share account because the credit union is member owned and as a result, members own shares in the credit union.

A share savings account pays you interest on your savings, similar to a savings account at a bank. The interest you receive can vary. Connection Credit Union pays 0.05%.

Loan rates
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10.00%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
13.90%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
7.95%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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4.15%
New car loan rate
Compared to 4.0% nationally
9.18%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates
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4.44%
Mortgage rate (secured by junior lien)
Compared to 3.4% nationally
4.61%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally