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VERMILLION FEDERAL CREDIT UNION

Mar, 31, 2021 — VERMILLION FEDERAL CREDIT UNION is a federal credit union headquartered in VERMILLION, SD with 1 branch location and about $27.22 million in total assets. Opened 62 years ago in 1959, VERMILLION FEDERAL CREDIT UNION has about 2,702 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:2,702
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, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$27,223,181
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 1,906,277
TOTAL INVESTMENTS 13,092,643
Loans Held for Sale 0
 
 Real Estate Loans 2,317,976
 Unsecured Loans 1,199,183
 Other Loans 7,916,163
 TOTAL LOANS 11,433,322
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -47,356
 Land And Building 545,501
 Other Fixed Assets 42,500
 NCUSIF Deposit 172,157
 All Other Assets 78,137
  TOTAL ASSETS 27,223,181
LIABILITIES & CAPITAL:  
 Dividends Payable 3,000
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 192,815
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 8,309,025
 Regular shares 13,191,314
 All Other Shares & Deposits 2,998,528
  TOTAL SHARES & DEPOSITS 24,498,867
  TOTAL LIABILITIES 24,694,682
 Regular Reserve 132,923
 Other Reserves 152,786
 Undivided Earnings 2,242,790
  TOTAL EQUITY 2,528,499
  TOTAL LIABILITIES, SHARES, & EQUITY 27,223,181
INCOME & EXPENSE  
 Loan Income 132,748
 Investment Income 23,941
 Other Income 134,844
 Total Employee Compensation & Benefits 100,510
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 125,611
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 3,000
 Cost of Funds 10,790
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 54,761
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