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SALEM VA MEDICAL CENTER FEDERAL CREDIT UNION

Dec, 31, 2020 — SALEM VA MEDICAL CENTER FEDERAL CREDIT UNION is a federal credit union headquartered in Salem, VA with 3 branch locations and about $94.33 million in total assets. Opened 85 years ago in 1936, SALEM VA MEDICAL CENTER FEDERAL CREDIT UNION has about 10,044 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:10,044
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:$94,330,684
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 6,902,890
TOTAL INVESTMENTS 30,701,651
Loans Held for Sale 0
 
 Real Estate Loans 8,266,840
 Unsecured Loans 5,304,372
 Other Loans 30,835,781
 TOTAL LOANS 44,406,993
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -309,239
 Land And Building 2,663,047
 Other Fixed Assets 128,068
 NCUSIF Deposit 765,417
 All Other Assets 9,071,857
  TOTAL ASSETS 94,330,684
LIABILITIES & CAPITAL:  
 Dividends Payable 11,117
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 5,429,631
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 18,390,291
 Regular shares 50,099,771
 All Other Shares & Deposits 15,035,745
  TOTAL SHARES & DEPOSITS 83,525,807
  TOTAL LIABILITIES 88,966,555
 Regular Reserve 866,162
 Other Reserves -2,150,842
 Undivided Earnings 6,648,809
  TOTAL EQUITY 5,364,129
  TOTAL LIABILITIES, SHARES, & EQUITY 94,330,684
INCOME & EXPENSE  
 Loan Income 2,329,285
 Investment Income 431,801
 Other Income 977,398
 Total Employee Compensation & Benefits 1,365,268
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 2,178,846
 Non-operating Income & (Expense) 18,081
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 13,279
 Cost of Funds 172,986
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 26,186
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