Dec, 31, 2023 — VASCO FEDERAL CREDIT UNION is a federal credit union headquartered in LATROBE, PA with 1 branch location and about $31.33 million in total assets. Opened 57 years ago in 1967, VASCO FEDERAL CREDIT UNION has about 1,863 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | VASCO FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 432 Depot St LATROBE, PA 15650 |
| Phone: | (724) 539-2858 |
| Fax: | (724) 537-2530 |
| Website: | https://www.vascofcu.com |
| Branches: | 1 branch locations |
| Members: | 1,863 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 18301 |
|---|---|
| Membership Type: | Multiple common bond - Primarily primary and fabricated metals |
| Corporate Credit Union: | No |
| Year Opened: | 1967 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $31,327,129 |
| CEO/Manager: | Garth D Chase |
| Chairperson: | Howard W Caldwell |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 879,012 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,843,871 |
| Unsecured Loans | 494,404 |
| Other Loans | 3,332,781 |
| TOTAL LOANS | 5,671,056 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -11,931 |
| Land And Building | 31,720 |
| Other Fixed Assets | 9,172 |
| NCUSIF Deposit | 307,006 |
| All Other Assets | 0 |
| TOTAL ASSETS | 31,327,129 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 35,735 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 102,485 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 4,454,083 |
| Regular shares | 18,299,247 |
| All Other Shares & Deposits | 5,005,275 |
| TOTAL SHARES & DEPOSITS | 27,758,605 |
| TOTAL LIABILITIES | 27,896,825 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 3,430,304 |
| TOTAL EQUITY | 3,430,304 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 31,327,129 |
| INCOME & EXPENSE | |
| Loan Income | 248,505 |
| Investment Income | 924,212 |
| Other Income | 25,952 |
| Total Employee Compensation & Benefits | 308,625 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 308,613 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -5,748 |
| Cost of Funds | 331,418 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 351,459 |
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» See also Statement of Financial Condition