Dec, 31, 2023 — VIRGINIA COOP CREDIT UNION is a federally insured state chartered credit union headquartered in VIRGINIA, MN with 1 branch location and about $40.64 million in total assets. Opened 87 years ago in 1937, VIRGINIA COOP CREDIT UNION has about 2,965 members and employs 8 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | VIRGINIA COOP CREDIT UNION |
|---|---|
| Address: (Main Office) | 811 4th St N VIRGINIA, MN 55792 |
| Phone: | (218) 741-5644 |
| Fax: | (218) 749-4359 |
| Website: | https://www.vccu.org |
| Branches: | 1 branch locations |
| Members: | 2,965 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 63965 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1937 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $40,637,477 |
| CEO/Manager: | Donald Rausch |
| Chairperson: | Robert A Henderson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,892,752 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 9,717,279 |
| Unsecured Loans | 1,213,444 |
| Other Loans | 15,455,832 |
| TOTAL LOANS | 26,386,555 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -57,515 |
| Land And Building | 1,026,454 |
| Other Fixed Assets | 173,237 |
| NCUSIF Deposit | 370,710 |
| All Other Assets | 27,800 |
| TOTAL ASSETS | 40,637,477 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 108 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 117,021 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 13,535,291 |
| Regular shares | 23,395,831 |
| All Other Shares & Deposits | 162,499 |
| TOTAL SHARES & DEPOSITS | 37,093,621 |
| TOTAL LIABILITIES | 37,210,750 |
| Regular Reserve | 0 |
| Other Reserves | 393,250 |
| Undivided Earnings | 3,033,477 |
| TOTAL EQUITY | 3,426,727 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 40,637,477 |
| INCOME & EXPENSE | |
| Loan Income | 1,522,023 |
| Investment Income | 113,510 |
| Other Income | 103,188 |
| Total Employee Compensation & Benefits | 573,644 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,102,754 |
| Non-operating Income & (Expense) | -2,950 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 102,782 |
| Cost of Funds | 38,408 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 214,810 |
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