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 |
| 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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