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VELOCITY CREDIT UNION

Jun, 30, 2021 — VELOCITY CREDIT UNION is a federally insured state chartered credit union headquartered in Austin, TX with 6 branch locations and about $1.05 billion in total assets. Opened 74 years ago in 1947, VELOCITY CREDIT UNION has about 83,687 members and employs 218 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)
P O BOX 1089
Austin, TX 78767
Phone:(512) 469-7000
Fax:
Website:http://www.velocitycu.com
Branches:6 branch locations
Members:83,687
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, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$1,051,880,059
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 118,401,324
TOTAL INVESTMENTS 290,485,512
Loans Held for Sale 0
 
 Real Estate Loans 168,786,224
 Unsecured Loans 31,290,557
 Other Loans 368,682,240
 TOTAL LOANS 568,759,021
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -7,186,338
 Land And Building 44,637,876
 Other Fixed Assets 8,523,565
 NCUSIF Deposit 7,821,665
 All Other Assets 20,437,434
  TOTAL ASSETS 1,051,880,059
LIABILITIES & CAPITAL:  
 Dividends Payable 231,255
 Notes & Interest Payable 10,000,000
 Accounts Payable & Other Liabilities 15,720,132
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 250,058,166
 Regular shares 304,630,938
 All Other Shares & Deposits 339,060,860
  TOTAL SHARES & DEPOSITS 893,749,964
  TOTAL LIABILITIES 919,701,351
 Regular Reserve 11,294,236
 Other Reserves -15,994,424
 Undivided Earnings 136,878,896
  TOTAL EQUITY 132,178,708
  TOTAL LIABILITIES, SHARES, & EQUITY 1,051,880,059
INCOME & EXPENSE  
 Loan Income 14,491,845
 Investment Income 1,049,093
 Other Income 2,270,568
 Total Employee Compensation & Benefits 10,416,878
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 9,765,260
 Non-operating Income & (Expense) 23,168,544
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -54,484
 Cost of Funds 1,622,142
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 23,916,239
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