Dec, 31, 2020 — VISION FINANCIAL FEDERAL CREDIT UNION is a federal credit union headquartered in Durham, NC with 3 branch locations and about $55.60 million in total assets. Opened 61 years ago in 1960, VISION FINANCIAL FEDERAL CREDIT UNION has about 7,958 members and employs 20 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | VISION FINANCIAL FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | PO Box 15818 Durham, NC 27704 |
| Phone: | (919) 477-0696 |
| Fax: | (919) 471-8211 |
| Website: | http://www.vffcu.org |
| Branches: | 3 branch locations |
| Members: | 7,958 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 13492 |
|---|---|
| Membership Type: | Multiple common bond - Primarily communications and utilities |
| Corporate Credit Union: | No |
| Year Opened: | 1960 |
| Last Audited: | Jun 01, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $55,599,512 |
| CEO/Manager: | Dawn Swaningson |
| Chairperson: | Larry Ray |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 7,879,302 |
| TOTAL INVESTMENTS | 26,332,289 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 5,049,358 |
| Unsecured Loans | 3,351,669 |
| Other Loans | 11,265,636 |
| TOTAL LOANS | 19,666,663 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -419,127 |
| Land And Building | 1,436,991 |
| Other Fixed Assets | 46,101 |
| NCUSIF Deposit | 462,600 |
| All Other Assets | 194,693 |
| TOTAL ASSETS | 55,599,512 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 109,951 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 8,838,299 |
| Regular shares | 25,129,853 |
| All Other Shares & Deposits | 15,602,690 |
| TOTAL SHARES & DEPOSITS | 49,570,842 |
| TOTAL LIABILITIES | 49,680,793 |
| Regular Reserve | 1,069,330 |
| Other Reserves | 329,694 |
| Undivided Earnings | 4,519,695 |
| TOTAL EQUITY | 5,918,719 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 55,599,512 |
| INCOME & EXPENSE | |
| Loan Income | 1,195,368 |
| Investment Income | 467,264 |
| Other Income | 841,585 |
| Total Employee Compensation & Benefits | 1,082,651 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 873,310 |
| Non-operating Income & (Expense) | -1,699 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 160,724 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 385,833 |
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