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National Credit Union Service Organization

VERMONT STATE EMPLOYEES CREDIT UNION

Jun, 30, 2021 — VERMONT STATE EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in Montpelier, VT with 9 branch locations and about $1.05 billion in total assets. Opened 74 years ago in 1947, VERMONT STATE EMPLOYEES CREDIT UNION has about 70,682 members and employs 187 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: 211691185
Name:VERMONT STATE EMPLOYEES CREDIT UNION
Address:
(Main Office)
PO Box 67
Montpelier, VT 05601
Phone:(802) 371-5162
Fax:(802) 223-0267
Website:http://www.vsecu.com
Branches:9 branch locations
Members:70,682
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:60717
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1947
Last Audited:Sep 01, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$1,050,206,082
CEO/Manager:Robert Miller
Chairperson:Spencer Newman

Call Report

  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 18,458,333
TOTAL INVESTMENTS 127,875,798
Loans Held for Sale 0
 
 Real Estate Loans 632,557,349
 Unsecured Loans 103,239,420
 Other Loans 132,454,304
 TOTAL LOANS 868,251,073
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -5,131,146
 Land And Building 11,175,021
 Other Fixed Assets 3,440,670
 NCUSIF Deposit 8,320,171
 All Other Assets 17,816,162
  TOTAL ASSETS 1,050,206,082
LIABILITIES & CAPITAL:  
 Dividends Payable 31,619
 Notes & Interest Payable 385,000
 Accounts Payable & Other Liabilities 10,874,595
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 164,098,795
 Regular shares 454,233,758
 All Other Shares & Deposits 329,169,587
  TOTAL SHARES & DEPOSITS 947,502,140
  TOTAL LIABILITIES 958,793,354
 Regular Reserve 11,953,743
 Other Reserves 1,628,881
 Undivided Earnings 77,830,104
  TOTAL EQUITY 91,412,728
  TOTAL LIABILITIES, SHARES, & EQUITY 1,050,206,082
INCOME & EXPENSE  
 Loan Income 16,847,285
 Investment Income 860,860
 Other Income 3,385,435
 Total Employee Compensation & Benefits 8,938,521
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 7,262,587
 Non-operating Income & (Expense) -6,699
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -424,266
 Cost of Funds 1,012,418
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 7,463,226
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