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VELOCITY CREDIT UNION

Dec, 31, 2023 — VELOCITY CREDIT UNION is a federally insured state chartered credit union headquartered in AUSTIN, TX with 6 branch locations and about $1.04 billion in total assets. Opened 77 years ago in 1947, VELOCITY CREDIT UNION has about 81,298 members and employs 214 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 314977133
Name:VELOCITY CREDIT UNION
Address:
(Main Office)
4515 Seton Center Pkwy
AUSTIN, TX 78759-5290
Phone:(512) 469-7000
Fax:
Website:https://www.velocitycu.com
Branches:6 branch locations
Members:81,298
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:68359
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1947
Last Audited:Sep 01, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$1,039,075,424
CEO/Manager:Debbie L Mitchell
Chairperson:Kasha Bartholomew

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 87,337,182
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 145,887,543
 Unsecured Loans 55,690,539
 Other Loans 413,489,312
 TOTAL LOANS 615,067,394
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -17,361,494
 Land And Building 41,963,118
 Other Fixed Assets 5,364,095
 NCUSIF Deposit 8,165,284
 All Other Assets 1,557,173
  TOTAL ASSETS 1,039,075,424
LIABILITIES & CAPITAL:  
 Dividends Payable 538,751
 Notes & Interest Payable 50,000,000
 Accounts Payable & Other Liabilities 9,283,343
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 236,819,901
 Regular shares 256,675,910
 All Other Shares & Deposits 368,256,842
  TOTAL SHARES & DEPOSITS 861,752,653
  TOTAL LIABILITIES 921,574,747
 Regular Reserve 0
 Other Reserves -27,250,737
 Undivided Earnings 144,751,414
  TOTAL EQUITY 117,500,677
  TOTAL LIABILITIES, SHARES, & EQUITY 1,039,075,424
INCOME & EXPENSE  
 Loan Income 31,070,564
 Investment Income 11,626,000
 Other Income 6,257,842
 Total Employee Compensation & Benefits 21,472,553
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 19,830,466
 Non-operating Income & (Expense) 625,109
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 7,052,908
 Cost of Funds 8,061,889
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,458,734
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