Dec, 31, 2020 — VAREX FEDERAL CREDIT UNION is a federal credit union headquartered in SALT LAKE CITY, UT with 1 branch location and about $19.19 million in total assets. Opened 54 years ago in 1967, VAREX FEDERAL CREDIT UNION has about 1,303 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: | VAREX FEDERAL CREDIT UNION |
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Address: (Main Office) | 1678 PIONEER RD SALT LAKE CITY, UT 84104-4205 |
Phone: | (801) 973-5052 |
Fax: | (801) 973-5142 |
Website: | http://www.varexfederalcu.net |
Branches: | 1 branch locations |
Members: | 1,303 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 24773 |
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Membership Type: | Service - Health Care |
Corporate Credit Union: | No |
Year Opened: | 1967 |
Last Audited: | Jun 01, 2020 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $19,191,395 |
CEO/Manager: | Tammy Phillips |
Chairperson: | Dave Pistorius |
ASSETS: | $ Amount |
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Cash & Equivalents | 2,399,092 |
TOTAL INVESTMENTS | 7,539,892 |
Loans Held for Sale | 0 |
Real Estate Loans | 2,254,631 |
Unsecured Loans | 521,489 |
Other Loans | 5,434,741 |
TOTAL LOANS | 9,069,262 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -25,542 |
Land And Building | 0 |
Other Fixed Assets | 13 |
NCUSIF Deposit | 133,086 |
All Other Assets | 75,592 |
TOTAL ASSETS | 19,191,395 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 2,158 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 45,707 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 2,512,795 |
Regular shares | 6,595,577 |
All Other Shares & Deposits | 7,272,120 |
TOTAL SHARES & DEPOSITS | 16,380,492 |
TOTAL LIABILITIES | 16,428,357 |
Regular Reserve | 560,000 |
Other Reserves | 0 |
Undivided Earnings | 2,203,038 |
TOTAL EQUITY | 2,763,038 |
TOTAL LIABILITIES, SHARES, & EQUITY | 19,191,395 |
INCOME & EXPENSE | |
Loan Income | 350,911 |
Investment Income | 151,046 |
Other Income | 51,246 |
Total Employee Compensation & Benefits | 264,409 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 158,117 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 25,000 |
Cost of Funds | 47,629 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 58,048 |
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