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VIRGINIA BEACH SCHOOLS FEDERAL CREDIT UNION

Mar, 31, 2021 — VIRGINIA BEACH SCHOOLS FEDERAL CREDIT UNION is a federal credit union headquartered in Virginia Beach, VA with 2 branch locations and about $115.42 million in total assets. Opened 61 years ago in 1960, VIRGINIA BEACH SCHOOLS FEDERAL CREDIT UNION has about 7,054 members and employs 31 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:VIRGINIA BEACH SCHOOLS FEDERAL CREDIT UNION
Address:
(Main Office)
3701 Bonney Rd
Virginia Beach, VA 23452-3405
Phone:(757) 463-3650
Fax:(757) 463-2169
Website:http://www.vbsfcu.org
Branches:2 branch locations
Members:7,054
Credit Union Type:Federal Credit Union
Charter Number:13772
Membership Type:Multiple common bond - Primarily educational
Corporate Credit Union:No
Year Opened:1960
Last Audited:Dec 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$115,424,586
CEO/Manager:Brian Clark
Chairperson:Catherine S Rogers

Call Report

  • Commercial Loans
  • Credit Builder
  • Micro Business Loans
  • Micro Consumer Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • Payday Alternative Loans (PAL Loans)
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • Insurance/Investment Sales
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 20,633,926
TOTAL INVESTMENTS 53,731,579
Loans Held for Sale 0
 
 Real Estate Loans 7,787,568
 Unsecured Loans 1,895,546
 Other Loans 25,625,113
 TOTAL LOANS 35,308,227
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -539,154
 Land And Building 1,536,833
 Other Fixed Assets 122,474
 NCUSIF Deposit 924,111
 All Other Assets 3,706,590
  TOTAL ASSETS 115,424,586
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 848,977
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 27,706,420
 Regular shares 56,904,532
 All Other Shares & Deposits 22,158,537
  TOTAL SHARES & DEPOSITS 106,769,489
  TOTAL LIABILITIES 107,618,466
 Regular Reserve 1,088,472
 Other Reserves -10,536
 Undivided Earnings 6,728,184
  TOTAL EQUITY 7,806,120
  TOTAL LIABILITIES, SHARES, & EQUITY 115,424,586
INCOME & EXPENSE  
 Loan Income 390,864
 Investment Income 192,303
 Other Income 119,486
 Total Employee Compensation & Benefits 461,821
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 332,281
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -70,000
 Cost of Funds 3,778
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 117,870
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