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VISION FINANCIAL FEDERAL CREDIT UNION

Dec, 31, 2023 — VISION FINANCIAL FEDERAL CREDIT UNION is a federal credit union headquartered in DURHAM, NC with 3 branch locations and about $57.54 million in total assets. Opened 64 years ago in 1960, VISION FINANCIAL FEDERAL CREDIT UNION has about 6,675 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:https://www.vffcu.org
Branches:3 branch locations
Members:6,675
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, 2023
FHLB Member:No
Low Income Designation:No
Assets:$57,544,974
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 4,222,044
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 5,951,904
 Unsecured Loans 3,291,282
 Other Loans 11,056,699
 TOTAL LOANS 20,299,885
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -101,582
 Land And Building 1,501,113
 Other Fixed Assets 31,909
 NCUSIF Deposit 485,549
 All Other Assets 0
  TOTAL ASSETS 57,544,974
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 708,612
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 8,543,698
 Regular shares 27,076,967
 All Other Shares & Deposits 12,944,208
  TOTAL SHARES & DEPOSITS 48,564,873
  TOTAL LIABILITIES 49,273,485
 Regular Reserve 0
 Other Reserves 424,326
 Undivided Earnings 7,847,163
  TOTAL EQUITY 8,271,489
  TOTAL LIABILITIES, SHARES, & EQUITY 57,544,974
INCOME & EXPENSE  
 Loan Income 1,165,464
 Investment Income 1,224,359
 Other Income 326,546
 Total Employee Compensation & Benefits 1,208,819
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 820,193
 Non-operating Income & (Expense) 11,181
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 90,179
 Cost of Funds 225,683
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 840,062
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