Dec, 31, 2023 — VERITAS FEDERAL CREDIT UNION is a federal credit union headquartered in SMYRNA, TN with 2 branch locations and about $52.21 million in total assets. Opened 51 years ago in 1973, VERITAS FEDERAL CREDIT UNION has about 5,155 members and employs 21 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | VERITAS FEDERAL CREDIT UNION |
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Address: (Main Office) | 685 Ken Pilkerton Dr SMYRNA, TN 37167-3812 |
Phone: | (615) 786-0452 |
Fax: | (615) 288-5027 |
Website: | https://www.veritasfcu.org |
Branches: | 2 branch locations |
Members: | 5,155 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 21354 |
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Membership Type: | Multiple common bond - Primarily transportation equipment |
Corporate Credit Union: | No |
Year Opened: | 1973 |
Last Audited: | Mar 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $52,214,598 |
CEO/Manager: | Teri Crowl |
Chairperson: | Michelle Garcia |
ASSETS: | $ Amount |
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Cash & Equivalents | 3,222,743 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 15,504,643 |
Unsecured Loans | 9,125,905 |
Other Loans | 15,293,960 |
TOTAL LOANS | 39,924,508 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -303,013 |
Land And Building | 4,147,771 |
Other Fixed Assets | 502,248 |
NCUSIF Deposit | 432,121 |
All Other Assets | 0 |
TOTAL ASSETS | 52,214,598 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 500,960 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 11,128,501 |
Regular shares | 18,818,348 |
All Other Shares & Deposits | 17,728,229 |
TOTAL SHARES & DEPOSITS | 47,675,079 |
TOTAL LIABILITIES | 48,176,039 |
Regular Reserve | 0 |
Other Reserves | -51,410 |
Undivided Earnings | 4,089,969 |
TOTAL EQUITY | 4,038,559 |
TOTAL LIABILITIES, SHARES, & EQUITY | 52,214,598 |
INCOME & EXPENSE | |
Loan Income | 2,474,046 |
Investment Income | 177,514 |
Other Income | 501,989 |
Total Employee Compensation & Benefits | 1,470,297 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,426,915 |
Non-operating Income & (Expense) | -2,513 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 239,529 |
Cost of Funds | 458,480 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -115,938 |
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