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National Credit Union Service Organization

VIBE CREDIT UNION

Dec, 31, 2023 — VIBE CREDIT UNION is a federally insured state chartered credit union headquartered in NOVI, MI with 14 branch locations and about $1.23 billion in total assets. Opened 71 years ago in 1953, VIBE CREDIT UNION has about 79,456 members and employs 240 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:VIBE CREDIT UNION
Address:
(Main Office)
44575 W 12 Mile Rd
NOVI, MI 48377-2505
Phone:(248) 735-9500
Fax:
Website:https://www.vibecu.com
Branches:14 branch locations
Members:79,456
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:61522
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1953
Last Audited:Dec 01, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$1,234,661,523
CEO/Manager:Chaz Rzewnicki
Chairperson:Michael Ivanics

Call Report

  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 103,031,074
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 504,311,745
 Unsecured Loans 72,293,576
 Other Loans 291,743,749
 TOTAL LOANS 868,349,070
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -7,099,481
 Land And Building 28,739,577
 Other Fixed Assets 3,238,014
 NCUSIF Deposit 10,548,086
 All Other Assets 440,504
  TOTAL ASSETS 1,234,661,523
LIABILITIES & CAPITAL:  
 Dividends Payable 89
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 11,474,723
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 180,557,433
 Regular shares 475,635,310
 All Other Shares & Deposits 444,495,286
  TOTAL SHARES & DEPOSITS 1,100,688,029
  TOTAL LIABILITIES 1,112,162,841
 Regular Reserve 0
 Other Reserves 45,247,578
 Undivided Earnings 77,251,104
  TOTAL EQUITY 122,498,682
  TOTAL LIABILITIES, SHARES, & EQUITY 1,234,661,523
INCOME & EXPENSE  
 Loan Income 44,005,732
 Investment Income 6,756,201
 Other Income 9,193,420
 Total Employee Compensation & Benefits 23,234,726
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 22,440,772
 Non-operating Income & (Expense) 3,211,742
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 2,743,463
 Cost of Funds 14,309,173
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 7,642,094
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