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VELOCITY CREDIT UNION

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.


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: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

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
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
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