Mar, 31, 2022 — VELOCITY CREDIT UNION is a federally insured state chartered credit union headquartered in AUSTIN, TX with 6 branch locations and about $1.09 billion in total assets. Opened 75 years ago in 1947, VELOCITY CREDIT UNION has about 85,408 members and employs 213 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | VELOCITY CREDIT UNION |
|---|---|
| Address: (Main Office) | 4515 Seton Center Pkwy AUSTIN, TX 78759-5290 |
| Phone: | (512) 469-7000 |
| Fax: | |
| Website: | http://www.velocitycu.com |
| Branches: | 6 branch locations |
| Members: | 85,408 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68359 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1947 |
| Last Audited: | Sep 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,091,272,193 |
| CEO/Manager: | Debbie L Mitchell |
| Chairperson: | Kasha Bartholomew |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 137,385,892 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 162,265,965 |
| Unsecured Loans | 35,636,137 |
| Other Loans | 371,374,460 |
| TOTAL LOANS | 569,276,562 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -6,082,791 |
| Land And Building | 43,070,592 |
| Other Fixed Assets | 7,655,142 |
| NCUSIF Deposit | 8,335,741 |
| All Other Assets | 626,125 |
| TOTAL ASSETS | 1,091,272,193 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 147,965 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 8,940,208 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 278,536,104 |
| Regular shares | 328,507,344 |
| All Other Shares & Deposits | 349,431,019 |
| TOTAL SHARES & DEPOSITS | 956,474,467 |
| TOTAL LIABILITIES | 965,562,640 |
| Regular Reserve | 0 |
| Other Reserves | -24,257,246 |
| Undivided Earnings | 149,966,799 |
| TOTAL EQUITY | 125,709,553 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,091,272,193 |
| INCOME & EXPENSE | |
| Loan Income | 6,298,549 |
| Investment Income | 890,203 |
| Other Income | 1,361,098 |
| Total Employee Compensation & Benefits | 4,882,165 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 4,518,338 |
| Non-operating Income & (Expense) | 1,214,911 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 319,971 |
| Cost of Funds | 551,248 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,383,852 |
| ↑ Back to Top | |