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VISION FINANCIAL FEDERAL CREDIT UNION

Sep, 30, 2022 — VISION FINANCIAL FEDERAL CREDIT UNION is a federal credit union headquartered in DURHAM, NC with 3 branch locations and about $62.18 million in total assets. Opened 63 years ago in 1960, VISION FINANCIAL FEDERAL CREDIT UNION has about 6,995 members and employs 19 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)
214 Pacific Ave
DURHAM, NC 27704
Phone:(919) 477-0696
Fax:(919) 471-8211
Website:https://www.vffcu.org
Branches:3 branch locations
Members:6,995
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, 2022
FHLB Member:No
Low Income Designation:No
Assets:$62,181,587
CEO/Manager:Dawn Swaningson
Chairperson:Larry Ray

Call Report

  • Payday Alternative Loans (PAL Loans)
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 9,733,762
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 5,554,507
 Unsecured Loans 3,235,705
 Other Loans 10,472,677
 TOTAL LOANS 19,262,889
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -66,954
 Land And Building 1,544,972
 Other Fixed Assets 33,951
 NCUSIF Deposit 495,986
 All Other Assets 0
  TOTAL ASSETS 62,181,587
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 322,452
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 9,914,175
 Regular shares 30,955,460
 All Other Shares & Deposits 13,960,844
  TOTAL SHARES & DEPOSITS 54,830,479
  TOTAL LIABILITIES 55,152,931
 Regular Reserve 0
 Other Reserves 1,493,657
 Undivided Earnings 5,534,999
  TOTAL EQUITY 7,028,656
  TOTAL LIABILITIES, SHARES, & EQUITY 62,181,587
INCOME & EXPENSE  
 Loan Income 763,472
 Investment Income 341,166
 Other Income 255,846
 Total Employee Compensation & Benefits 819,043
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 590,619
 Non-operating Income & (Expense) 22,723
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -13,995
 Cost of Funds 41,884
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 375,839
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