Dec, 31, 2023 — VIRGINIA CREDIT UNION, INC. is a federally insured state chartered credit union headquartered in NORTH CHESTERFIELD, VA with 21 branch locations and about $5.32 billion in total assets. Opened 96 years ago in 1928, VIRGINIA CREDIT UNION, INC. has about 327,145 members and employs 781 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 CREDIT UNION, INC. |
|---|---|
| Address: (Main Office) | 7500 Boulder View Dr NORTH CHESTERFIELD, VA 23225-4046 |
| Phone: | (804) 323-6000 |
| Fax: | |
| Website: | https://www.vacu.org |
| Branches: | 21 branch locations |
| Members: | 327,145 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 66836 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1928 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $5,324,355,564 |
| CEO/Manager: | Christopher M Shockley |
| Chairperson: | Kenneth E Ampy |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 42,817,475 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 11,014,199 |
| Real Estate Loans | 1,846,038,272 |
| Unsecured Loans | 636,565,475 |
| Other Loans | 1,264,449,474 |
| TOTAL LOANS | 3,747,181,827 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -61,953,861 |
| Land And Building | 57,507,267 |
| Other Fixed Assets | 15,768,793 |
| NCUSIF Deposit | 42,626,110 |
| All Other Assets | 71,748 |
| TOTAL ASSETS | 5,324,355,564 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,236 |
| Notes & Interest Payable | 422,718,195 |
| Accounts Payable & Other Liabilities | 72,894,564 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 944,781,957 |
| Regular shares | 727,352,450 |
| All Other Shares & Deposits | 2,752,658,158 |
| TOTAL SHARES & DEPOSITS | 4,424,792,564 |
| TOTAL LIABILITIES | 4,920,406,559 |
| Regular Reserve | 0 |
| Other Reserves | -136,333,749 |
| Undivided Earnings | 540,282,754 |
| TOTAL EQUITY | 403,949,005 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 5,324,355,564 |
| INCOME & EXPENSE | |
| Loan Income | 208,213,586 |
| Investment Income | 49,665,483 |
| Other Income | 24,443,778 |
| Total Employee Compensation & Benefits | 92,079,635 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 92,225,239 |
| Non-operating Income & (Expense) | 374,536 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 31,860,684 |
| Cost of Funds | 89,861,739 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 22,302,168 |
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