Sep, 30, 2025 — VERVE, A CREDIT UNION is a federally insured state chartered credit union headquartered in OSHKOSH, WI with 20 branch locations and about $1.59 billion in total assets. Opened 88 years ago in 1938, VERVE, A CREDIT UNION has about 62,598 members and employs 276 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | VERVE, A CREDIT UNION |
|---|---|
| Address: (Main Office) | 2900 Universal St OSHKOSH, WI 54904 |
| Phone: | (920) 236-7040 |
| Fax: | (920) 236-7985 |
| Website: | https://www.verveacu.com |
| Branches: | 20 branch locations |
| Members: | 62,598 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 66777 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1938 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,586,895,546 |
| CEO/Manager: | Kevin J Ralofsky |
| Chairperson: | Kevin Bornemann |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 88,254,267 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 927,424 |
| Real Estate Loans | 814,316,613 |
| Unsecured Loans | 45,047,211 |
| Other Loans | 289,846,900 |
| TOTAL LOANS | 1,149,210,726 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -6,409,384 |
| Land And Building | 25,989,881 |
| Other Fixed Assets | 4,732,422 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 11,598,239 |
| All Other Assets | 20,944 |
| TOTAL ASSETS | 1,586,895,546 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,624 |
| Notes & Interest Payable | 122,322,868 |
| Accounts Payable & Other Liabilities | 14,078,763 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 316,169,721 |
| Regular shares | 292,205,992 |
| All Other Shares & Deposits | 724,344,112 |
| TOTAL SHARES & DEPOSITS | 1,332,719,825 |
| TOTAL LIABILITIES | 1,469,205,567 |
| Regular Reserve | 0 |
| Other Reserves | 476,436 |
| Undivided Earnings | 117,213,543 |
| TOTAL EQUITY | 117,689,979 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,586,895,546 |
| INCOME & EXPENSE | |
| Loan Income | 47,167,710 |
| Investment Income | 13,227,413 |
| Other Income | 3,535,778 |
| Total Employee Compensation & Benefits | 18,758,894 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 17,191,519 |
| Non-operating Income & (Expense) | 200,269 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,011,117 |
| Cost of Funds | 27,448,047 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 4,018,143 |
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