Dec, 31, 2023 — VA BEACH POSTAL FEDERAL CREDIT UNION is a federal credit union headquartered in VIRGINIA BEACH, VA with 1 branch location and about $10.09 million in total assets. Opened 61 years ago in 1963, VA BEACH POSTAL FEDERAL CREDIT UNION has about 1,120 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | VA BEACH POSTAL FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 501 Viking Dr # A VIRGINIA BEACH, VA 23452-7306 |
| Phone: | (757) 340-9781 |
| Fax: | (757) 340-1213 |
| Website: | https://vbpfcu.org |
| Branches: | 1 branch locations |
| Members: | 1,120 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 15536 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1963 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $10,087,155 |
| CEO/Manager: | Rosemary G Gagnon |
| Chairperson: | Robert J Wittman |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 332,256 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 910,384 |
| Other Loans | 4,004,147 |
| TOTAL LOANS | 4,914,531 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -27,649 |
| Land And Building | 8,375 |
| Other Fixed Assets | 46,800 |
| NCUSIF Deposit | 93,437 |
| All Other Assets | 0 |
| TOTAL ASSETS | 10,087,155 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 19,088 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | -7,073 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,986,792 |
| Regular shares | 6,400,462 |
| All Other Shares & Deposits | 552,012 |
| TOTAL SHARES & DEPOSITS | 8,939,266 |
| TOTAL LIABILITIES | 8,951,281 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 1,135,874 |
| TOTAL EQUITY | 1,135,874 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 10,087,155 |
| INCOME & EXPENSE | |
| Loan Income | 319,161 |
| Investment Income | 110,333 |
| Other Income | 49,611 |
| Total Employee Compensation & Benefits | 170,766 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 290,119 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 34,800 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 44,490 |
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