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.
Name: | VELOCITY CREDIT UNION |
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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 |
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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 |
ASSETS: | $ Amount |
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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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