Sep, 30, 2025 — VELOCITY COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in PALM BEACH GARDENS, FL with 3 branch locations and about $480.75 million in total assets. Opened 68 years ago in 1958, VELOCITY COMMUNITY FEDERAL CREDIT UNION has about 25,157 members and employs 89 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | VELOCITY COMMUNITY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2801 PGA BLVD STE 120 PALM BEACH GARDENS, FL 33410 |
| Phone: | (561) 775-2525 |
| Fax: | (561) 624-1753 |
| Website: | https://www.velocitycommunity.org |
| Branches: | 3 branch locations |
| Members: | 25,157 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 12458 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1958 |
| Last Audited: | Sep 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $480,748,002 |
| CEO/Manager: | Jeff Marshall |
| Chairperson: | Eric J Emerson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 30,540,794 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 117,296,706 |
| Unsecured Loans | 27,613,633 |
| Other Loans | 191,729,783 |
| TOTAL LOANS | 336,640,122 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,636,990 |
| Land And Building | 3,467,291 |
| Other Fixed Assets | 1,451,164 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 3,824,380 |
| All Other Assets | 35,733 |
| TOTAL ASSETS | 480,748,002 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 880,456 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 5,728,835 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 83,068,321 |
| Regular shares | 187,136,797 |
| All Other Shares & Deposits | 144,310,667 |
| TOTAL SHARES & DEPOSITS | 414,515,785 |
| TOTAL LIABILITIES | 421,159,310 |
| Regular Reserve | 0 |
| Other Reserves | 30,428,580 |
| Undivided Earnings | 29,160,112 |
| TOTAL EQUITY | 59,588,692 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 480,748,002 |
| INCOME & EXPENSE | |
| Loan Income | 14,365,361 |
| Investment Income | 2,999,446 |
| Other Income | 1,027,001 |
| Total Employee Compensation & Benefits | 6,530,930 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 6,881,253 |
| Non-operating Income & (Expense) | 22,661 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,656,471 |
| Cost of Funds | 3,847,030 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,792,523 |
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