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National Credit Union Service Organization

VERMONT STATE EMPLOYEES CREDIT UNION

Dec, 31, 2023 — 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 77 years ago in 1947, VERMONT STATE EMPLOYEES CREDIT UNION has about 71,625 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)
PO Box 67
Montpelier, VT 05601
Phone:(802) 371-5162
Fax:(802) 223-0267
Website:https://www.vsecu.com
Branches:9 branch locations
Members:71,625
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:$1,097,645,877
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 17,055,277
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 689,618,259
 Unsecured Loans 98,397,017
 Other Loans 133,755,431
 TOTAL LOANS 921,770,707
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -4,046,175
 Land And Building 12,991,655
 Other Fixed Assets 2,891,313
 NCUSIF Deposit 9,189,116
 All Other Assets 1,464
  TOTAL ASSETS 1,097,645,877
LIABILITIES & CAPITAL:  
 Dividends Payable 22,474
 Notes & Interest Payable 25,370,000
 Accounts Payable & Other Liabilities 12,960,951
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 185,529,356
 Regular shares 490,832,129
 All Other Shares & Deposits 303,824,194
  TOTAL SHARES & DEPOSITS 980,185,679
  TOTAL LIABILITIES 1,018,539,104
 Regular Reserve 0
 Other Reserves -22,868,531
 Undivided Earnings 101,975,304
  TOTAL EQUITY 79,106,773
  TOTAL LIABILITIES, SHARES, & EQUITY 1,097,645,877
INCOME & EXPENSE  
 Loan Income 26,361,251
 Investment Income 1,905,459
 Other Income 3,282,239
 Total Employee Compensation & Benefits 14,631,254
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 11,699,300
 Non-operating Income & (Expense) -15,277
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 300,743
 Cost of Funds 1,179,760
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 6,580,712
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