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VERITAS FEDERAL CREDIT UNION

Mar, 31, 2021 — VERITAS FEDERAL CREDIT UNION is a federal credit union headquartered in Franklin, TN with 5 branch locations and about $47.53 million in total assets. Opened 48 years ago in 1973, VERITAS FEDERAL CREDIT UNION has about 5,548 members and employs 17 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 064182605
Name:VERITAS FEDERAL CREDIT UNION
Address:
(Main Office)
P.O. Box 681059
Franklin, TN 37068
Phone:(615) 786-0452
Fax:(615) 288-5027
Website:http://www.veritasfcu.org
Branches:5 branch locations
Members:5,548
Credit Union Type:Federal Credit Union
Charter Number:21354
Membership Type:Multiple common bond - Primarily transportation equipment
Corporate Credit Union:No
Year Opened:1973
Last Audited:Mar 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$47,531,881
CEO/Manager:Teri Crowl
Chairperson:Michelle Garcia

Call Report

  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Check Cashing
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 7,956,885
TOTAL INVESTMENTS 7,661,103
Loans Held for Sale 0
 
 Real Estate Loans 10,057,012
 Unsecured Loans 5,267,362
 Other Loans 11,384,408
 TOTAL LOANS 26,708,782
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -278,533
 Land And Building 960,956
 Other Fixed Assets 567,048
 NCUSIF Deposit 341,836
 All Other Assets 3,613,804
  TOTAL ASSETS 47,531,881
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 573,082
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 13,045,850
 Regular shares 22,415,229
 All Other Shares & Deposits 7,393,530
  TOTAL SHARES & DEPOSITS 42,854,609
  TOTAL LIABILITIES 43,427,691
 Regular Reserve 720,170
 Other Reserves -51,410
 Undivided Earnings 3,435,430
  TOTAL EQUITY 4,104,190
  TOTAL LIABILITIES, SHARES, & EQUITY 47,531,881
INCOME & EXPENSE  
 Loan Income 409,439
 Investment Income 14,117
 Other Income 92,526
 Total Employee Compensation & Benefits 277,331
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 285,067
 Non-operating Income & (Expense) 23
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 17,541
 Cost of Funds 27,412
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -16,497
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