Dec, 31, 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 |
| 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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