Dec, 31, 2023 — VERMONT FEDERAL CREDIT UNION is a federal credit union headquartered in SOUTH BURLINGTON, VT with 9 branch locations and about $932.99 million in total assets. Opened 71 years ago in 1953, VERMONT FEDERAL CREDIT UNION has about 53,577 members and employs 170 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | VERMONT FEDERAL CREDIT UNION |
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Address: (Main Office) | 275 Kennedy Dr SOUTH BURLINGTON, VT 05403-6706 |
Phone: | (888) 252-0202 |
Fax: | |
Website: | https://www.vermontfederal.org |
Branches: | 9 branch locations |
Members: | 53,577 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 24405 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1953 |
Last Audited: | Mar 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $932,990,741 |
CEO/Manager: | Jean L Giard |
Chairperson: | Megan T Manahan Bliss |
ASSETS: | $ Amount |
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Cash & Equivalents | 37,137,712 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 467,500 |
Real Estate Loans | 470,089,640 |
Unsecured Loans | 46,484,605 |
Other Loans | 181,650,929 |
TOTAL LOANS | 734,265,549 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -3,361,239 |
Land And Building | 17,004,961 |
Other Fixed Assets | 2,863,647 |
NCUSIF Deposit | 7,797,759 |
All Other Assets | 25,300 |
TOTAL ASSETS | 932,990,741 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 6 |
Notes & Interest Payable | 16,264,500 |
Accounts Payable & Other Liabilities | 13,162,727 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 258,771,130 |
Regular shares | 188,578,017 |
All Other Shares & Deposits | 379,842,941 |
TOTAL SHARES & DEPOSITS | 827,192,089 |
TOTAL LIABILITIES | 856,619,322 |
Regular Reserve | 0 |
Other Reserves | -13,068,398 |
Undivided Earnings | 89,439,817 |
TOTAL EQUITY | 76,371,419 |
TOTAL LIABILITIES, SHARES, & EQUITY | 932,990,741 |
INCOME & EXPENSE | |
Loan Income | 33,807,876 |
Investment Income | 3,493,193 |
Other Income | 3,938,856 |
Total Employee Compensation & Benefits | 15,886,690 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 12,893,055 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,110,258 |
Cost of Funds | 10,119,536 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 7,769,733 |
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