VIRGINIA BEACH SCHOOLS FEDERAL CREDIT UNION is no longer an active credit union according to the NCUA. If available, you can view their website at https://www.vbsfcu.org for more information.
Dec, 31, 2023 — VIRGINIA BEACH SCHOOLS FEDERAL CREDIT UNION is a federal credit union headquartered in Virginia Beach, VA with 2 branch locations and about $115.22 million in total assets. Opened 64 years ago in 1960, VIRGINIA BEACH SCHOOLS FEDERAL CREDIT UNION has about 7,010 members and employs 31 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | VIRGINIA BEACH SCHOOLS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 3701 Bonney Rd Virginia Beach, VA 23452-3405 |
| Phone: | (757) 463-3650 |
| Fax: | (757) 463-2169 |
| Website: | https://www.vbsfcu.org |
| Branches: | 2 branch locations |
| Members: | 7,010 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 13772 |
|---|---|
| Membership Type: | Multiple common bond - Primarily educational |
| Corporate Credit Union: | No |
| Year Opened: | 1960 |
| Last Audited: | Dec 01, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $115,221,758 |
| CEO/Manager: | Brian Clark |
| Chairperson: | Catherine S Rogers |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 23,480,497 |
| TOTAL INVESTMENTS | 49,763,156 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 7,762,488 |
| Unsecured Loans | 1,790,339 |
| Other Loans | 26,685,045 |
| TOTAL LOANS | 36,237,872 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -531,475 |
| Land And Building | 1,505,579 |
| Other Fixed Assets | 127,912 |
| NCUSIF Deposit | 1,028,861 |
| All Other Assets | 3,609,356 |
| TOTAL ASSETS | 115,221,758 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 709,313 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 26,706,869 |
| Regular shares | 58,548,075 |
| All Other Shares & Deposits | 21,256,975 |
| TOTAL SHARES & DEPOSITS | 106,511,919 |
| TOTAL LIABILITIES | 107,221,232 |
| Regular Reserve | 1,088,472 |
| Other Reserves | 66,208 |
| Undivided Earnings | 6,845,846 |
| TOTAL EQUITY | 8,000,526 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 115,221,758 |
| INCOME & EXPENSE | |
| Loan Income | 1,159,165 |
| Investment Income | 563,795 |
| Other Income | 378,544 |
| Total Employee Compensation & Benefits | 1,423,772 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,031,347 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -71,566 |
| Cost of Funds | 10,500 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 235,532 |
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