Dec, 31, 2023 — VITAL FEDERAL CREDIT UNION is a federal credit union headquartered in SPARTANBURG, SC with 0 branch location and about $58.41 million in total assets. Opened 60 years ago in 1964, VITAL FEDERAL CREDIT UNION has about 6,478 members and employs 16 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | VITAL FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1450 John B White SR Blvd SPARTANBURG, SC 29306 |
| Phone: | (864) 948-8200 |
| Fax: | |
| Website: | https://www.vitalfcu.com |
| Branches: | 0 branch locations |
| Members: | 6,478 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24536 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1964 |
| Last Audited: | Aug 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $58,409,086 |
| CEO/Manager: | Omero J DeLorenzo |
| Chairperson: | Paul L Barnette |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 7,841,223 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 3,411,799 |
| Unsecured Loans | 4,330,000 |
| Other Loans | 37,351,488 |
| TOTAL LOANS | 45,093,287 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -38,182 |
| Land And Building | 2,961,491 |
| Other Fixed Assets | 46,258 |
| NCUSIF Deposit | 508,172 |
| All Other Assets | 19,256 |
| TOTAL ASSETS | 58,409,086 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 554,726 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 14,457,188 |
| Regular shares | 26,668,440 |
| All Other Shares & Deposits | 8,398,793 |
| TOTAL SHARES & DEPOSITS | 49,524,421 |
| TOTAL LIABILITIES | 50,079,147 |
| Regular Reserve | 0 |
| Other Reserves | 245,809 |
| Undivided Earnings | 8,084,130 |
| TOTAL EQUITY | 8,329,939 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 58,409,086 |
| INCOME & EXPENSE | |
| Loan Income | 2,408,484 |
| Investment Income | 257,204 |
| Other Income | 399,987 |
| Total Employee Compensation & Benefits | 1,355,922 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,363,572 |
| Non-operating Income & (Expense) | 371,239 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 46,500 |
| Cost of Funds | 184,734 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,036,955 |
| ↑ Back to Top | |