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VAREX FEDERAL CREDIT UNION

Mar, 31, 2022 — VAREX FEDERAL CREDIT UNION is a federal credit union headquartered in SALT LAKE CITY, UT with 1 branch location and about $19.30 million in total assets. Opened 55 years ago in 1967, VAREX FEDERAL CREDIT UNION has about 1,307 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
Address:
(Main Office)
1678 Pioneer Rd
SALT LAKE CITY, UT 84104-4298
Phone:(801) 973-5052
Fax:(801) 973-5142
Website:http://www.varexfederalcu.net
Branches:1 branch locations
Members:1,307
Credit Union Type:Federal Credit Union
Charter Number:24773
Membership Type:Service - Health Care
Corporate Credit Union:No
Year Opened:1967
Last Audited:May 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$19,297,123
CEO/Manager:Tammy Phillips
Chairperson:Dave Pistorius

Call Report

  • Payday Alternative Loans (PAL Loans)
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 699,480
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 3,520,794
 Unsecured Loans 774,354
 Other Loans 7,430,483
 TOTAL LOANS 11,725,631
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -31,188
 Land And Building 0
 Other Fixed Assets 36,903
 NCUSIF Deposit 163,805
 All Other Assets 0
  TOTAL ASSETS 19,297,123
LIABILITIES & CAPITAL:  
 Dividends Payable 565
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 42,342
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 2,393,561
 Regular shares 8,007,706
 All Other Shares & Deposits 5,999,672
  TOTAL SHARES & DEPOSITS 16,400,939
  TOTAL LIABILITIES 16,443,846
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 2,853,277
  TOTAL EQUITY 2,853,277
  TOTAL LIABILITIES, SHARES, & EQUITY 19,297,123
INCOME & EXPENSE  
 Loan Income 99,309
 Investment Income 26,401
 Other Income 7,631
 Total Employee Compensation & Benefits 64,045
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 46,890
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 6,000
 Cost of Funds 3,860
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 17,355
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