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National Credit Union Service Organization

VERMONT STATE EMPLOYEES CREDIT UNION

Mar, 31, 2022 — VERMONT STATE EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in MONTPELIER, VT with 9 branch locations and about $1.10 billion in total assets. Opened 75 years ago in 1947, VERMONT STATE EMPLOYEES CREDIT UNION has about 70,824 members and employs 197 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)
1 Bailey Ave
MONTPELIER, VT 05602-3401
Phone:(802) 371-5162
Fax:(802) 223-0267
Website:http://www.vsecu.com
Branches:9 branch locations
Members:70,824
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, 2021
FHLB Member:Yes
Low Income Designation:No
Assets:$1,098,863,902
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 32,585,793
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 672,385,430
 Unsecured Loans 94,372,704
 Other Loans 121,079,052
 TOTAL LOANS 887,837,186
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -3,819,890
 Land And Building 11,569,241
 Other Fixed Assets 3,151,681
 NCUSIF Deposit 8,871,998
 All Other Assets 0
  TOTAL ASSETS 1,098,863,902
LIABILITIES & CAPITAL:  
 Dividends Payable 25,323
 Notes & Interest Payable 385,000
 Accounts Payable & Other Liabilities 11,103,042
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 177,161,769
 Regular shares 493,437,753
 All Other Shares & Deposits 328,098,254
  TOTAL SHARES & DEPOSITS 998,697,776
  TOTAL LIABILITIES 1,010,211,141
 Regular Reserve 0
 Other Reserves -9,441,617
 Undivided Earnings 98,094,378
  TOTAL EQUITY 88,652,761
  TOTAL LIABILITIES, SHARES, & EQUITY 1,098,863,902
INCOME & EXPENSE  
 Loan Income 8,512,225
 Investment Income 569,004
 Other Income 1,290,882
 Total Employee Compensation & Benefits 5,058,560
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 3,768,761
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -461,597
 Cost of Funds 324,991
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 2,655,157
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