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VITAL FEDERAL CREDIT UNION

Jun, 30, 2021 — VITAL FEDERAL CREDIT UNION is a federal credit union headquartered in Spartanburg, SC with 1 branch location and about $66.49 million in total assets. Opened 57 years ago in 1964, VITAL FEDERAL CREDIT UNION has about 7,028 members and employs 18 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: 253279785
Name:VITAL FEDERAL CREDIT UNION
Address:
(Main Office)
1000 Asheville Hwy
Spartanburg, SC 29303
Phone:(864) 948-8200
Fax:(864) 948-8216
Website:https://www.vitalfcu.com
Branches:1 branch locations
Members:7,028
Credit Union Type:Federal Credit Union
Charter Number:24536
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1964
Last Audited:Aug 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$66,494,107
CEO/Manager:Omero J DeLorenzo
Chairperson:Paul L Barnette

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 19,427,452
TOTAL INVESTMENTS 1,640,341
Loans Held for Sale 0
 
 Real Estate Loans 5,549,740
 Unsecured Loans 4,401,147
 Other Loans 30,908,328
 TOTAL LOANS 40,859,215
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -146,178
 Land And Building 3,540,428
 Other Fixed Assets 130,874
 NCUSIF Deposit 534,562
 All Other Assets 507,413
  TOTAL ASSETS 66,494,107
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 254,554
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 19,711,133
 Regular shares 27,554,223
 All Other Shares & Deposits 13,145,740
  TOTAL SHARES & DEPOSITS 60,411,096
  TOTAL LIABILITIES 60,665,650
 Regular Reserve 245,809
 Other Reserves 0
 Undivided Earnings 5,582,648
  TOTAL EQUITY 5,828,457
  TOTAL LIABILITIES, SHARES, & EQUITY 66,494,107
INCOME & EXPENSE  
 Loan Income 866,201
 Investment Income 10,095
 Other Income 214,029
 Total Employee Compensation & Benefits 614,171
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 567,961
 Non-operating Income & (Expense) 1,000
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 8,000
 Cost of Funds 141,641
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 48,176
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