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 |
| 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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