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VELOCITY CREDIT UNION

Dec, 31, 2021 — VELOCITY CREDIT UNION is a federally insured state chartered credit union headquartered in AUSTIN, TX with 6 branch locations and about $1.07 billion in total assets. Opened 75 years ago in 1947, VELOCITY CREDIT UNION has about 84,696 members and employs 202 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 314977133
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:84,696
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:$1,065,347,238
CEO/Manager:Debbie L Mitchell
Chairperson:James Chapman

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 109,564,401
TOTAL INVESTMENTS 312,220,645
Loans Held for Sale 258,950
 
 Real Estate Loans 168,977,679
 Unsecured Loans 34,074,459
 Other Loans 361,248,590
 TOTAL LOANS 564,300,728
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -6,614,523
 Land And Building 43,324,724
 Other Fixed Assets 8,046,031
 NCUSIF Deposit 8,335,741
 All Other Assets 25,910,541
  TOTAL ASSETS 1,065,347,238
LIABILITIES & CAPITAL:  
 Dividends Payable 153,400
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 8,876,049
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 259,834,208
 Regular shares 323,647,197
 All Other Shares & Deposits 334,847,742
  TOTAL SHARES & DEPOSITS 918,329,147
  TOTAL LIABILITIES 927,358,596
 Regular Reserve 11,294,236
 Other Reserves -10,594,305
 Undivided Earnings 137,288,711
  TOTAL EQUITY 137,988,642
  TOTAL LIABILITIES, SHARES, & EQUITY 1,065,347,238
INCOME & EXPENSE  
 Loan Income 27,800,838
 Investment Income 2,627,507
 Other Income 4,870,721
 Total Employee Compensation & Benefits 20,617,278
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 18,892,819
 Non-operating Income & (Expense) 23,369,886
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 999,691
 Cost of Funds 2,872,536
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 24,326,052
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