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VA BEACH POSTAL FEDERAL CREDIT UNION

Mar, 31, 2021 — VA BEACH POSTAL FEDERAL CREDIT UNION is a federal credit union headquartered in VIRGINIA BEACH, VA with 1 branch location and about $10.88 million in total assets. Opened 58 years ago in 1963, VA BEACH POSTAL FEDERAL CREDIT UNION has about 1,066 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:http://vbpfcu.org
Branches:1 branch locations
Members:1,066
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, 2020
FHLB Member:No
Low Income Designation:No
Assets:$10,879,742
CEO/Manager:Rosemary G Gagnon
Chairperson:Robert J Wittman

Call Report

  • Credit Builder
  • Micro Consumer Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • Payday Alternative Loans (PAL Loans)
  • ATM/Debit Card Program
  • Check Cashing
  • Insurance/Investment Sales
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,541,562
TOTAL INVESTMENTS 4,394,636
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 776,005
 Other Loans 3,041,487
 TOTAL LOANS 3,817,492
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -30,718
 Land And Building 0
 Other Fixed Assets 17,114
 NCUSIF Deposit 74,273
 All Other Assets 65,383
  TOTAL ASSETS 10,879,742
LIABILITIES & CAPITAL:  
 Dividends Payable 5,077
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 7,290
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 2,380,687
 Regular shares 6,905,727
 All Other Shares & Deposits 539,997
  TOTAL SHARES & DEPOSITS 9,826,411
  TOTAL LIABILITIES 9,838,778
 Regular Reserve 163,071
 Other Reserves 0
 Undivided Earnings 877,893
  TOTAL EQUITY 1,040,964
  TOTAL LIABILITIES, SHARES, & EQUITY 10,879,742
INCOME & EXPENSE  
 Loan Income 67,029
 Investment Income 16,621
 Other Income 8,412
 Total Employee Compensation & Benefits 41,765
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 57,632
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 5,077
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 496
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