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VERMILION SCHOOL EMPLOYEES CREDIT UNION

Jun, 30, 2021 — VERMILION SCHOOL EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in ABBEVILLE, LA with 1 branch location and about $15.35 million in total assets. Opened 48 years ago in 1973, VERMILION SCHOOL EMPLOYEES CREDIT UNION has about 2,074 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:VERMILION SCHOOL EMPLOYEES CREDIT UNION
Address:
(Main Office)
PO BOX 848
ABBEVILLE, LA 70511-0848
Phone:(337) 898-1388
Fax:(337) 898-6011
Website:n/a
Branches:1 branch locations
Members:2,074
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:61540
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1973
Last Audited:Apr 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$15,345,521
CEO/Manager:Chasity D Landry
Chairperson:Kirk P Soileau

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 4,378,664
TOTAL INVESTMENTS 5,959,568
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 1,800,857
 Other Loans 2,950,527
 TOTAL LOANS 4,751,384
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -18,823
 Land And Building 125,392
 Other Fixed Assets 5,442
 NCUSIF Deposit 126,874
 All Other Assets 17,020
  TOTAL ASSETS 15,345,521
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 234,225
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 13,222,360
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 13,222,360
  TOTAL LIABILITIES 13,456,585
 Regular Reserve 267,133
 Other Reserves 0
 Undivided Earnings 1,621,803
  TOTAL EQUITY 1,888,936
  TOTAL LIABILITIES, SHARES, & EQUITY 15,345,521
INCOME & EXPENSE  
 Loan Income 107,118
 Investment Income 21,968
 Other Income 6,956
 Total Employee Compensation & Benefits 54,722
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 51,660
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 18,296
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 34,754
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