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VISION FINANCIAL FEDERAL CREDIT UNION

Dec, 31, 2021 — VISION FINANCIAL FEDERAL CREDIT UNION is a federal credit union headquartered in DURHAM, NC with 3 branch locations and about $60.45 million in total assets. Opened 62 years ago in 1960, VISION FINANCIAL FEDERAL CREDIT UNION has about 7,380 members and employs 21 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:http://www.vffcu.org
Branches:3 branch locations
Members:7,380
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, 2021
FHLB Member:No
Low Income Designation:No
Assets:$60,449,418
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 19,226,533
TOTAL INVESTMENTS 21,002,479
Loans Held for Sale 0
 
 Real Estate Loans 4,154,887
 Unsecured Loans 3,278,957
 Other Loans 10,523,966
 TOTAL LOANS 17,957,810
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -92,182
 Land And Building 1,586,066
 Other Fixed Assets 41,847
 NCUSIF Deposit 492,063
 All Other Assets 234,802
  TOTAL ASSETS 60,449,418
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 301,745
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 10,538,241
 Regular shares 29,272,620
 All Other Shares & Deposits 13,683,992
  TOTAL SHARES & DEPOSITS 53,494,853
  TOTAL LIABILITIES 53,796,598
 Regular Reserve 1,069,330
 Other Reserves 424,327
 Undivided Earnings 5,159,163
  TOTAL EQUITY 6,652,820
  TOTAL LIABILITIES, SHARES, & EQUITY 60,449,418
INCOME & EXPENSE  
 Loan Income 1,046,424
 Investment Income 303,114
 Other Income 337,432
 Total Employee Compensation & Benefits 1,072,949
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 771,861
 Non-operating Income & (Expense) 76,735
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -326,109
 Cost of Funds 106,918
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 639,471
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