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VIRGINIA BEACH SCHOOLS FEDERAL CREDIT UNION

Dec, 31, 2020 — VIRGINIA BEACH SCHOOLS FEDERAL CREDIT UNION is a federal credit union headquartered in Virginia Beach, VA with 2 branch locations and about $111.23 million in total assets. Opened 61 years ago in 1960, VIRGINIA BEACH SCHOOLS FEDERAL CREDIT UNION has about 7,051 members and employs 29 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:7,051
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, 2019
FHLB Member:No
Low Income Designation:No
Assets:$111,229,577
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
  • In-School Branches
  • Insurance/Investment Sales
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 20,811,946
TOTAL INVESTMENTS 48,647,532
Loans Held for Sale 0
 
 Real Estate Loans 8,459,187
 Unsecured Loans 2,033,506
 Other Loans 25,472,163
 TOTAL LOANS 35,964,856
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -610,155
 Land And Building 1,553,907
 Other Fixed Assets 133,170
 NCUSIF Deposit 924,111
 All Other Assets 3,804,210
  TOTAL ASSETS 111,229,577
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 808,988
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 26,667,312
 Regular shares 53,729,888
 All Other Shares & Deposits 21,715,830
  TOTAL SHARES & DEPOSITS 102,113,030
  TOTAL LIABILITIES 102,922,018
 Regular Reserve 1,088,472
 Other Reserves 608,773
 Undivided Earnings 6,610,314
  TOTAL EQUITY 8,307,559
  TOTAL LIABILITIES, SHARES, & EQUITY 111,229,577
INCOME & EXPENSE  
 Loan Income 1,754,346
 Investment Income 884,121
 Other Income 1,090,074
 Total Employee Compensation & Benefits 2,019,543
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,433,237
 Non-operating Income & (Expense) 84,373
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 73,611
 Cost of Funds 52,475
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 234,048
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