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VELOCITY CREDIT UNION

Dec, 31, 2022 — 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 76 years ago in 1947, VELOCITY CREDIT UNION has about 83,030 members and employs 210 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:https://www.velocitycu.com
Branches:6 branch locations
Members:83,030
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:$1,067,212,201
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 104,533,187
TOTAL INVESTMENTS 0
Loans Held for Sale 315,000
 
 Real Estate Loans 159,883,536
 Unsecured Loans 37,382,275
 Other Loans 385,824,509
 TOTAL LOANS 583,090,320
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -5,519,287
 Land And Building 42,733,893
 Other Fixed Assets 7,000,025
 NCUSIF Deposit 8,547,619
 All Other Assets 719,375
  TOTAL ASSETS 1,067,212,201
LIABILITIES & CAPITAL:  
 Dividends Payable 133,372
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 9,088,807
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 260,116,039
 Regular shares 326,423,089
 All Other Shares & Deposits 357,767,100
  TOTAL SHARES & DEPOSITS 944,306,228
  TOTAL LIABILITIES 953,528,407
 Regular Reserve 0
 Other Reserves -39,155,342
 Undivided Earnings 152,839,136
  TOTAL EQUITY 113,683,794
  TOTAL LIABILITIES, SHARES, & EQUITY 1,067,212,201
INCOME & EXPENSE  
 Loan Income 19,232,738
 Investment Income 3,819,688
 Other Income 4,471,234
 Total Employee Compensation & Benefits 14,732,070
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 13,674,907
 Non-operating Income & (Expense) 1,967,026
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 1,195,665
 Cost of Funds 1,951,045
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 4,256,189
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