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VIRGINIA EDUCATORS CREDIT UNION

Dec, 31, 2023 — VIRGINIA EDUCATORS CREDIT UNION is a federally insured state chartered credit union headquartered in NEWPORT NEWS, VA with 2 branch locations and about $77.28 million in total assets. Opened 70 years ago in 1954, VIRGINIA EDUCATORS CREDIT UNION has about 4,255 members and employs 10 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 EDUCATORS CREDIT UNION
Address:
(Main Office)
12626 Nettles Dr
NEWPORT NEWS, VA 23606
Phone:(757) 930-2425
Fax:(757) 930-1108
Website:https://www.vecu.org
Branches:2 branch locations
Members:4,255
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:66700
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1954
Last Audited:Sep 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$77,278,452
CEO/Manager:Sharon G Conti
Chairperson:Anne Edison

Call Report

  • Credit Builder
  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 62,487,736
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 2,863,489
 Unsecured Loans 2,085,525
 Other Loans 3,898,243
 TOTAL LOANS 8,847,256
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -40,530
 Land And Building 594,836
 Other Fixed Assets 186,808
 NCUSIF Deposit 642,730
 All Other Assets 12,870
  TOTAL ASSETS 77,278,452
LIABILITIES & CAPITAL:  
 Dividends Payable 6,680
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 298,565
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 21,619,563
 Regular shares 39,875,395
 All Other Shares & Deposits 2,304,779
  TOTAL SHARES & DEPOSITS 63,799,737
  TOTAL LIABILITIES 64,104,982
 Regular Reserve 0
 Other Reserves 794,086
 Undivided Earnings 12,379,384
  TOTAL EQUITY 13,173,470
  TOTAL LIABILITIES, SHARES, & EQUITY 77,278,452
INCOME & EXPENSE  
 Loan Income 534,799
 Investment Income 3,117,645
 Other Income 123,099
 Total Employee Compensation & Benefits 378,177
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 961,915
 Non-operating Income & (Expense) 9,155
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -10,658
 Cost of Funds 28,337
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 2,812,434
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