Dec, 31, 2023 — VELMA FEDERAL CREDIT UNION is a federal credit union headquartered in DUNCAN, OK with 1 branch location and about $3.13 million in total assets. Opened 71 years ago in 1953, VELMA FEDERAL CREDIT UNION has about 698 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | VELMA FEDERAL CREDIT UNION |
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Address: (Main Office) | 297655 E Old Hwy 7 Rd DUNCAN, OK 73533-1291 |
Phone: | (580) 444-3396 |
Fax: | (580) 444-2851 |
Website: | n/a |
Branches: | 1 branch locations |
Members: | 698 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 8962 |
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Membership Type: | Multiple common bond - Primarily petroleum refining |
Corporate Credit Union: | No |
Year Opened: | 1953 |
Last Audited: | Dec 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $3,127,116 |
CEO/Manager: | Heather Williams |
Chairperson: | Jack Smith |
ASSETS: | $ Amount |
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Cash & Equivalents | 805,773 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 0 |
Unsecured Loans | 107,602 |
Other Loans | 2,217,318 |
TOTAL LOANS | 2,324,920 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -53,679 |
Land And Building | 14,979 |
Other Fixed Assets | 211 |
NCUSIF Deposit | 31,353 |
All Other Assets | 0 |
TOTAL ASSETS | 3,127,116 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 17,117 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 0 |
Regular shares | 2,363,182 |
All Other Shares & Deposits | 357,035 |
TOTAL SHARES & DEPOSITS | 2,720,217 |
TOTAL LIABILITIES | 2,737,334 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 389,782 |
TOTAL EQUITY | 389,782 |
TOTAL LIABILITIES, SHARES, & EQUITY | 3,127,116 |
INCOME & EXPENSE | |
Loan Income | 146,917 |
Investment Income | 13,399 |
Other Income | 14,918 |
Total Employee Compensation & Benefits | 95,570 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 32,793 |
Non-operating Income & (Expense) | 476 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
Cost of Funds | 30,513 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 16,834 |
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