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 |
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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 |
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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 |
ASSETS: | $ Amount |
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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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