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VISION FINANCIAL FEDERAL CREDIT UNION

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

Call Report

  • Overdraft Protection
  • Pay Day Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • Payday Alternative Loans (PAL Loans)
  • ATM/Debit Card Program
  • Check Cashing
  • Health Savings Accounts
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
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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