# CONNEX
North Haven, CT · NCUA charter 68511 · asset band $1-10B · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/connex-68511

Who the members are: state charter, organized 1940. 68,675 members of 2,817,322 potential (2.4% of the field); checking penetration 50% (share draft accounts per 100 members); loans per 100 members 48.

**Verdict on the desk:** this could be *indirect buyer*. Composite score 3 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $1.04B |
| Members | 68,675 (-3.6% YoY) |
| Full-time staff | 140 |
| Net worth | $98.1M |
| Net worth ratio | 9.4% (p20 of band) |
| ROA (annualized) | 0.19% (p9 of band) |
| Total delinquency | 0.55% (p43 of band) |
| Net charge-offs (annualized) | 0.20% (p14 of band) |
| Loans / shares | 99% (p87 of band) |
| Cash / assets | 4.2% |
| Borrowings / assets | 4.79% |
| Net interest margin | 2.52% (p10 of band) |
| Operating expense / assets | 2.63% (p21 of band) |
| Vehicles % of loans | 44% (p84 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 90% |
| Third-party paper % of net worth | 362% (p92 of band) |
| Vehicle delinquency | 0.64% (p55 of band) |
| Vehicle NCO | 0.29% (p9 of band) |
| Repossessed % of vehicle book | 0.00% (p11 of band) |
| Real estate % of loans | 53% |
| Credit cards % of loans | 0% |
| Unsecured % of loans | 2% |
| Commercial % of net worth | 0% |
| Core shares % of member funds | 36% |
| Certificates % of member funds | 35% |
| Average share balance | $6,317 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | – |
| Loans outstanding per 100 members | 48% |
| Loans granted per 100 members, annualized | 27% |
| Average loan balance | $26,836 |
| Loans granted, annualized | $186.9M |

## Flags firing in the latest filing

- **members leaving** (`shrink_members`)
- **loans>95% of shares** (`str_ltos`)
- **3rd-party paper>100% NW** (`str_thirdparty`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 1 | 3rd-party paper>100% NW |  |
| 2016-06 | 2 | leaning on borrowings |  |
| 2016-09 | 1 |  | leaning on borrowings |
| 2016-12 | 2 | net worth falling |  |
| 2017-03 | 2 |  |  |
| 2017-06 | 3 | loans>95% of shares |  |
| 2017-09 | 4 | leaning on borrowings |  |
| 2017-12 | 4 |  |  |
| 2018-03 | 4 |  |  |
| 2018-06 | 3 |  | leaning on borrowings |
| 2018-09 | 4 | leaning on borrowings |  |
| 2018-12 | 2 |  | net worth falling, leaning on borrowings |
| 2019-03 | 1 |  | loans>95% of shares |
| 2019-06 | 1 |  |  |
| 2019-09 | 3 | loans>95% of shares, leaning on borrowings |  |
| 2019-12 | 3 |  |  |
| 2020-03 | 4 | net worth falling, losing money, margin squeeze | loans>95% of shares, leaning on borrowings |
| 2020-06 | 2 |  | losing money, margin squeeze |
| 2020-09 | 1 |  | net worth falling |
| 2020-12 | 1 |  |  |
| 2021-03 | 1 |  |  |
| 2021-06 | 2 | net worth falling |  |
| 2021-09 | 2 | loans>95% of shares | net worth falling |
| 2021-12 | 1 |  | loans>95% of shares |
| 2022-03 | 2 | loans>95% of shares |  |
| 2022-06 | 2 |  |  |
| 2022-09 | 3 | net worth falling |  |
| 2022-12 | 3 | leaning on borrowings | net worth falling |
| 2023-03 | 2 |  | leaning on borrowings |
| 2023-06 | 3 | leaning on borrowings |  |
| 2023-09 | 4 | net worth falling |  |
| 2023-12 | 2 |  | leaning on borrowings, net worth falling |
| 2024-03 | 3 | delinquency rising |  |
| 2024-06 | 3 | net worth falling | delinquency rising |
| 2024-09 | 2 |  | net worth falling |
| 2024-12 | 4 | thin capital, leaning on borrowings |  |
| 2025-03 | 4 | losing money | leaning on borrowings |
| 2025-06 | 4 | leaning on borrowings | losing money |
| 2025-09 | 3 |  | thin capital |
| 2025-12 | 2 |  | leaning on borrowings |
| 2026-03 | 3 | members leaving |  |

## In the news (Google News, unfiltered, newest first; check the city)

- 2025-08-15 [Connecticut credit union discloses data breach - Banking Dive](https://news.google.com/rss/articles/CBMilAFBVV95cUxOeGdoZTZTbnQwWjE5QmFjYVotSGtfRWJpOWE4bHZqYng2SUFlY3c5MGJtZTl6TjBGT2pJR0N0d2FuNGVoWHEzOUVBR3ZLcHR3Wmh2d1JrUW0yWjc1cHRTRFZ3ZW1yMGN1ZVo0Wmk4R2RpMHo5QUZIcWJ6aDFaSVRHZFN3SWJ2YXNEYmpFS2c1WXRCQV9x?oc=5) · Banking Dive
- 2025-06-05 [Connex Credit Union back to normal at some Connecticut locations - WTNH.com](https://news.google.com/rss/articles/CBMipwFBVV95cUxNMVQ3czFodkJIR29uaFpvYlV6NUtBWEdHbEkzdDdKcm10TWlIdTZRVmdQdE9ScS11c2F1aDVObk51eUprR0ViUmw3eUprazNqN3N1aW9HeTlnVVZkUHJycncwSGdzWDJlb1Bvc3Z1WjRQSzg0ekVzOTdONXAtc0s2emxvdjRIc0RyUVdmYmtLeVNib0hSaUlRUDZUeE9kRkZoUGpGM3NEY9IBrAFBVV95cUxNREduaG9SRE5mNjBoU0dsRzBra2tSUGFidFNkU21DSDZjOFJvdDdKWFhjWklRUWR0cDMyLWNZazFkV0hEalJmdmhNbmYyTWN1bXJlLUc3SlNpRmpWdFd3YWM2SWgtZzE0czlOUGRXNWk3X3BSV3J6amJkeW5hTGkyaEU2c1NRYmo0RjNzVEVHbWJMNVZBOXVQdFZMNUc0ekx1ZHZndGRDT3RtUTEw?oc=5) · WTNH.com
- 2025-06-04 [ATM and in-branch services closed at CT Connex Credit Union locations - NBC Connecticut](https://news.google.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?oc=5) · NBC Connecticut
- 2022-04-06 [Connex Credit Union names new CFO, VP of Finance - hartfordbusiness.com](https://news.google.com/rss/articles/CBMijgFBVV95cUxPRVlNeTQ5M2t6bVFFR25nMHY2dGV3TXJBakQ5SjlGY09wVVRCMnJqYnhnbkFCOHJBUkZSbEtOTThiZ1lhaFhWd19lUEw2QnNtWkxNQ3hBLURPeWdzcWZ0Uzc1aVd4TzJsclBUaEJGZVZzV080VTFMZHllUU5SYWtxVWN6M3p3TDNjZFNOYjRn?oc=5) · hartfordbusiness.com
- 2024-10-03 [Connex Credit Union computer upgrade causes long lines and phone delays for its 70,000 members in CT - ctinsider.com](https://news.google.com/rss/articles/CBMipAFBVV95cUxPRmR2MWtkRG5sVzczRDBTS0FISTg1dkxmZTNYY1M4X0VncGFJM3UtcXNibnFQSGxEM01zYnVYUDl3M2lmbTFrR0VYNFI5QXEzUnp2enFBcDg0VzNvbW5zZzNNTHdDUVlJeHZfT2xJdUh4VlhGdnRMelY3TERhdU5jdEZpeC1pTG9KWnJ5VXEtNUZldERqLXozRlhRWFNXS25WZTJkZw?oc=5) · ctinsider.com
- 2018-08-30 [Credit union opens first Fairfield County branch - CTPost](https://news.google.com/rss/articles/CBMiowFBVV95cUxObnQ3UG9RMVNySFRwcVNaSGtNVExkYVliMTNHRHFTTHZ1SThpTmpfenRVNG5YMzZxOUg0czFFM28wZ0Rwc2MxNFpWSVRzTk8tSnVLd3ItNHpZX2lKZkhvU0ppTUhtVTExNUxkX0htTmRRVDEzeF8zU2RUWHljY05Fa2kzTThQOGVSV3EyV2ZQTUxJLTJhdHpwQm9kcHFMWVozOWhB?oc=5) · CTPost
- 2025-08-11 [Connex Credit Union data breach impacts 172,000 members - BleepingComputer](https://news.google.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?oc=5) · BleepingComputer
- 2013-02-13 [Connex Credit Union celebrates branch opening in Branford - New Haven Register](https://news.google.com/rss/articles/CBMirAFBVV95cUxNTkVhQWRseVlBZHUyQXU0LU5nYmlmX2pUX0ZpSWFXWm9PaGUyN3ZCVlZ0ZWxwVWliQVRnclJvNmlodXlKbWRMUjNLY2pHNWxPcXpFaERsbDdHS2dib2hkNXRfWFFRNUxFSHZZZ1JQMnBLRndLb1lJSkdFcmd4bllkbGJRcThZN1Zvd0cyN09jSFoyeTJlNlpSQ3RaSUxuQkxwSkl6ZW1yZUNLRGV6?oc=5) · New Haven Register

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=68511 (every cell opens its formula and NCUA account codes; the News tab is the same search)
- Latest row, JSON: https://getbookiq.com/cu-intel/data/summary.json · history: https://getbookiq.com/cu-intel/data/h/31.json (key "68511", columns cycle, assets, loans, shares, networth, nwr, roa, total_dq_pct, total_nco_pct, vehicle, veh_pct_loans, indirect, ind_pct_veh, ind_veh, ind_re, ind_comm, ind_other, ind_pct_loans, loans_n, granted_n_ytd, granted_ann, loan_pen, granted_pen, avg_loan_bal, loans_per_fte, veh_part, tp_pct_nw, veh_dq_pct, veh_nco_pct, repo_pct_veh, members_yoy, ltos, cash_pct, borrow_pct, nim_pct, opex_pct, risk_score, members, fte, cash_total, invest_sec, allowance_eff, int_income_ytd, int_exp_ytd, provision_eff_ytd, nonint_income_ytd, nonint_exp_ytd, net_income_ytd, n_flags, re_pct_loans, cc_pct_loans, comm_pct_loans, cert_pct_shares, core_pct_shares, part_buy_ann, part_sell_ann, pot_members, sh_draft_n, chk_pen, fom_pen, flags)
- Participation history: https://getbookiq.com/participation-desk/#cu=68511
- Field definitions: https://getbookiq.com/dictionary/#cu-ltos and the rest of the credit union dictionary
- Source: NCUA 5300 call report bulk files. Income fields are annualized by cycle month (Mar x4, Jun x2, Sep x4/3, Dec x1). Percentiles are within the asset band in the same quarter.

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Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide