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SALEM VA MEDICAL CENTER FEDERAL CREDIT UNION

Mar, 31, 2021 — SALEM VA MEDICAL CENTER FEDERAL CREDIT UNION is a federal credit union headquartered in Salem, VA with 3 branch locations and about $99.83 million in total assets. Opened 85 years ago in 1936, SALEM VA MEDICAL CENTER FEDERAL CREDIT UNION has about 10,140 members and employs 16 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:http://salemvafcu.org
Branches:3 branch locations
Members:10,140
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, 2020
FHLB Member:No
Low Income Designation:No
Assets:$99,825,659
CEO/Manager:Steven R Anderson
Chairperson:Marzetta F Sinkler

Call Report

  • Indirect Consumer Loans
  • Micro Consumer Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Check Cashing
  • Insurance/Investment Sales
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 8,981,674
TOTAL INVESTMENTS 33,185,651
Loans Held for Sale 0
 
 Real Estate Loans 7,530,842
 Unsecured Loans 4,985,033
 Other Loans 32,277,398
 TOTAL LOANS 44,793,273
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -286,537
 Land And Building 2,655,907
 Other Fixed Assets 122,662
 NCUSIF Deposit 765,417
 All Other Assets 9,607,612
  TOTAL ASSETS 99,825,659
LIABILITIES & CAPITAL:  
 Dividends Payable 9,416
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 5,416,502
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 20,683,153
 Regular shares 53,519,314
 All Other Shares & Deposits 14,639,339
  TOTAL SHARES & DEPOSITS 88,841,806
  TOTAL LIABILITIES 94,267,724
 Regular Reserve 866,162
 Other Reserves -2,011,700
 Undivided Earnings 6,703,473
  TOTAL EQUITY 5,557,935
  TOTAL LIABILITIES, SHARES, & EQUITY 99,825,659
INCOME & EXPENSE  
 Loan Income 572,571
 Investment Income 63,581
 Other Income 151,865
 Total Employee Compensation & Benefits 291,527
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 510,951
 Non-operating Income & (Expense) 2,400
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 28,977
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 54,664
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