Dec, 31, 2023 — CENTRAL VERMONT MEDICAL CENTER,INC. CREDIT UNION is a federally insured state chartered credit union headquartered in BERLIN, VT with 1 branch location and about $12.87 million in total assets. Opened 54 years ago in 1970, CENTRAL VERMONT MEDICAL CENTER,INC. CREDIT UNION has about 1,738 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CENTRAL VERMONT MEDICAL CENTER,INC. CREDIT UNION |
|---|---|
| Address: (Main Office) | 130 Fisher Rd BERLIN, VT 05602 |
| Phone: | (802) 371-4211 |
| Fax: | (802) 371-5359 |
| Website: | https://www.cvmccu.org |
| Branches: | 1 branch locations |
| Members: | 1,738 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 65090 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1970 |
| Last Audited: | Sep 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $12,867,510 |
| CEO/Manager: | Patrick Reeves |
| Chairperson: | Kelly Holland |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,435,546 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 851,527 |
| Other Loans | 4,024,439 |
| TOTAL LOANS | 4,875,966 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -73,151 |
| Land And Building | 0 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 102,137 |
| All Other Assets | 0 |
| TOTAL ASSETS | 12,867,510 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,889 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 71,415 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 2,095,147 |
| Regular shares | 3,158,825 |
| All Other Shares & Deposits | 4,227,883 |
| TOTAL SHARES & DEPOSITS | 9,481,855 |
| TOTAL LIABILITIES | 9,555,159 |
| Regular Reserve | 0 |
| Other Reserves | 305,115 |
| Undivided Earnings | 3,007,236 |
| TOTAL EQUITY | 3,312,351 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 12,867,510 |
| INCOME & EXPENSE | |
| Loan Income | 375,810 |
| Investment Income | 294,813 |
| Other Income | 55,782 |
| Total Employee Compensation & Benefits | 191,393 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 242,831 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 137,528 |
| Cost of Funds | 32,605 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 122,048 |
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