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VERMILLION FEDERAL CREDIT UNION

Dec, 31, 2020 — VERMILLION FEDERAL CREDIT UNION is a federal credit union headquartered in VERMILLION, SD with 1 branch location and about $25.72 million in total assets. Opened 62 years ago in 1959, VERMILLION FEDERAL CREDIT UNION has about 2,656 members and employs 8 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:VERMILLION FEDERAL CREDIT UNION
Address:
(Main Office)
105 E CHERRY ST
VERMILLION, SD 57069
Phone:(605) 677-5214
Fax:(605) 677-5449
Website:http://www.vermillionfcu.com
Branches:1 branch locations
Members:2,656
Credit Union Type:Federal Credit Union
Charter Number:12983
Membership Type:Community - Rural District
Corporate Credit Union:No
Year Opened:1959
Last Audited:Dec 01, 2019
FHLB Member:Yes
Low Income Designation:No
Assets:$25,721,763
CEO/Manager:Janet Mount
Chairperson:Cathi Powell

Call Report

  • Commercial Loans
  • Indirect Consumer Loans
  • Micro Consumer Loans
  • Overdraft Lines of Credit
  • Participation Loans
  • Real Estate Loans
  • Refund Anticipation Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Insurance/Investment Sales
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,968,516
TOTAL INVESTMENTS 11,757,020
Loans Held for Sale 0
 
 Real Estate Loans 2,787,165
 Unsecured Loans 987,649
 Other Loans 7,419,953
 TOTAL LOANS 11,194,767
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -35,969
 Land And Building 550,354
 Other Fixed Assets 40,531
 NCUSIF Deposit 172,158
 All Other Assets 74,386
  TOTAL ASSETS 25,721,763
LIABILITIES & CAPITAL:  
 Dividends Payable 6,925
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 25,853
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 8,091,973
 Regular shares 12,334,807
 All Other Shares & Deposits 2,788,892
  TOTAL SHARES & DEPOSITS 23,215,672
  TOTAL LIABILITIES 23,248,450
 Regular Reserve 132,923
 Other Reserves 152,362
 Undivided Earnings 2,188,028
  TOTAL EQUITY 2,473,313
  TOTAL LIABILITIES, SHARES, & EQUITY 25,721,763
INCOME & EXPENSE  
 Loan Income 545,291
 Investment Income 140,482
 Other Income 340,200
 Total Employee Compensation & Benefits 425,609
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 468,913
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 49,453
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 81,998
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