Sep, 30, 2025 — SALEM VA MEDICAL CENTER FEDERAL CREDIT UNION is a federal credit union headquartered in SALEM, VA with 3 branch locations and about $92.99 million in total assets. Opened 90 years ago in 1936, SALEM VA MEDICAL CENTER FEDERAL CREDIT UNION has about 7,850 members and employs 27 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 |
|---|---|
| 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: | 7,850 |
| 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, 2025 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $92,993,479 |
| CEO/Manager: | Steven R Anderson |
| Chairperson: | Robert C Brooks |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,471,358 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 6,857,626 |
| Unsecured Loans | 3,786,416 |
| Other Loans | 44,115,157 |
| TOTAL LOANS | 54,759,199 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -257,303 |
| Land And Building | 2,527,386 |
| Other Fixed Assets | 272,463 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 794,326 |
| All Other Assets | 0 |
| TOTAL ASSETS | 92,993,479 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 39,948 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 3,005,193 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 19,963,031 |
| Regular shares | 43,131,700 |
| All Other Shares & Deposits | 16,221,415 |
| TOTAL SHARES & DEPOSITS | 79,316,146 |
| TOTAL LIABILITIES | 82,361,287 |
| Regular Reserve | 0 |
| Other Reserves | -1,020,968 |
| Undivided Earnings | 11,653,160 |
| TOTAL EQUITY | 10,632,192 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 92,993,479 |
| INCOME & EXPENSE | |
| Loan Income | 2,506,673 |
| Investment Income | 731,813 |
| Other Income | 475,647 |
| Total Employee Compensation & Benefits | 931,300 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 2,004,282 |
| Non-operating Income & (Expense) | 5,211 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 6,469 |
| Cost of Funds | 366,298 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 679,739 |
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