Dec, 31, 2023 — VERMONT FEDERAL CREDIT UNION is a federal credit union headquartered in SOUTH BURLINGTON, VT with 9 branch locations and about $932.99 million in total assets. Opened 71 years ago in 1953, VERMONT FEDERAL CREDIT UNION has about 53,577 members and employs 170 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | VERMONT FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 275 Kennedy Dr SOUTH BURLINGTON, VT 05403-6706 |
| Phone: | (888) 252-0202 |
| Fax: | |
| Website: | https://www.vermontfederal.org |
| Branches: | 9 branch locations |
| Members: | 53,577 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24405 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1953 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $932,990,741 |
| CEO/Manager: | Jean L Giard |
| Chairperson: | Megan T Manahan Bliss |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 37,137,712 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 467,500 |
| Real Estate Loans | 470,089,640 |
| Unsecured Loans | 46,484,605 |
| Other Loans | 181,650,929 |
| TOTAL LOANS | 734,265,549 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -3,361,239 |
| Land And Building | 17,004,961 |
| Other Fixed Assets | 2,863,647 |
| NCUSIF Deposit | 7,797,759 |
| All Other Assets | 25,300 |
| TOTAL ASSETS | 932,990,741 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 6 |
| Notes & Interest Payable | 16,264,500 |
| Accounts Payable & Other Liabilities | 13,162,727 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 258,771,130 |
| Regular shares | 188,578,017 |
| All Other Shares & Deposits | 379,842,941 |
| TOTAL SHARES & DEPOSITS | 827,192,089 |
| TOTAL LIABILITIES | 856,619,322 |
| Regular Reserve | 0 |
| Other Reserves | -13,068,398 |
| Undivided Earnings | 89,439,817 |
| TOTAL EQUITY | 76,371,419 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 932,990,741 |
| INCOME & EXPENSE | |
| Loan Income | 33,807,876 |
| Investment Income | 3,493,193 |
| Other Income | 3,938,856 |
| Total Employee Compensation & Benefits | 15,886,690 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 12,893,055 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,110,258 |
| Cost of Funds | 10,119,536 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 7,769,733 |
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