Dec, 31, 2023 — SALEM VA MEDICAL CENTER FEDERAL CREDIT UNION is a federal credit union headquartered in SALEM, VA with 3 branch locations and about $95.18 million in total assets. Opened 88 years ago in 1936, SALEM VA MEDICAL CENTER FEDERAL CREDIT UNION has about 8,352 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: | SALEM VA MEDICAL CENTER FEDERAL CREDIT UNION |
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Address: (Main Office) | 112 W Main St SALEM, VA 24153 |
Phone: | (540) 389-8571 |
Fax: | (540) 389-8578 |
Website: | https://www.salemvafcu.org |
Branches: | 3 branch locations |
Members: | 8,352 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 1127 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1936 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $95,181,585 |
CEO/Manager: | Steven R Anderson |
Chairperson: | Robert C Brooks |
ASSETS: | $ Amount |
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Cash & Equivalents | 5,134,347 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 6,302,110 |
Unsecured Loans | 4,841,643 |
Other Loans | 51,603,501 |
TOTAL LOANS | 62,747,254 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -387,682 |
Land And Building | 2,577,367 |
Other Fixed Assets | 148,371 |
NCUSIF Deposit | 816,076 |
All Other Assets | 7,500 |
TOTAL ASSETS | 95,181,585 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 11,043 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 3,442,569 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 21,848,987 |
Regular shares | 51,944,438 |
All Other Shares & Deposits | 9,298,930 |
TOTAL SHARES & DEPOSITS | 83,092,355 |
TOTAL LIABILITIES | 86,545,967 |
Regular Reserve | 0 |
Other Reserves | -980,032 |
Undivided Earnings | 9,615,650 |
TOTAL EQUITY | 8,635,618 |
TOTAL LIABILITIES, SHARES, & EQUITY | 95,181,585 |
INCOME & EXPENSE | |
Loan Income | 3,130,563 |
Investment Income | 770,678 |
Other Income | 752,054 |
Total Employee Compensation & Benefits | 1,272,602 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 2,464,956 |
Non-operating Income & (Expense) | -2,801 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 111,947 |
Cost of Funds | 126,609 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 1,338,638 |
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