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SALEM VA MEDICAL CENTER FEDERAL CREDIT UNION

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.


ABA Routing Number: 251483078
Name:SALEM VA MEDICAL CENTER FEDERAL CREDIT UNION
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
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

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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