Dec, 31, 2023 — VERIDIAN CREDIT UNION is a federally insured state chartered credit union headquartered in WATERLOO, IA with 34 branch locations and about $7.45 billion in total assets. Opened 90 years ago in 1934, VERIDIAN CREDIT UNION has about 332,784 members and employs 1,012 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | VERIDIAN CREDIT UNION |
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Address: (Main Office) | 1827 Ansborough Ave WATERLOO, IA 50701 |
Phone: | (319) 236-5600 |
Fax: | (319) 236-5668 |
Website: | https://veridiancu.org |
Branches: | 34 branch locations |
Members: | 332,784 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 64418 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1934 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $7,448,974,265 |
CEO/Manager: | Renee Christoffer |
Chairperson: | Cynthia Ruma Buettner |
ASSETS: | $ Amount |
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Cash & Equivalents | 510,479,679 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 7,571,645 |
Real Estate Loans | 2,782,828,284 |
Unsecured Loans | 312,928,148 |
Other Loans | 3,214,952,653 |
TOTAL LOANS | 6,311,349,649 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -74,753,562 |
Land And Building | 73,376,986 |
Other Fixed Assets | 15,161,334 |
NCUSIF Deposit | 50,574,945 |
All Other Assets | 686,209 |
TOTAL ASSETS | 7,448,974,265 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 410,329,535 |
Accounts Payable & Other Liabilities | 108,797,480 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 1,162,335,357 |
Regular shares | 1,169,777,175 |
All Other Shares & Deposits | 3,848,305,733 |
TOTAL SHARES & DEPOSITS | 6,180,418,267 |
TOTAL LIABILITIES | 6,699,545,282 |
Regular Reserve | 0 |
Other Reserves | 248,973,312 |
Undivided Earnings | 500,455,671 |
TOTAL EQUITY | 749,428,983 |
TOTAL LIABILITIES, SHARES, & EQUITY | 7,448,974,265 |
INCOME & EXPENSE | |
Loan Income | 298,523,573 |
Investment Income | 21,987,181 |
Other Income | 21,412,252 |
Total Employee Compensation & Benefits | 88,959,760 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 69,669,745 |
Non-operating Income & (Expense) | 166,616 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 28,432,333 |
Cost of Funds | 139,535,836 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 84,977,658 |
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» See also Statement of Financial Condition