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.
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: | https://www.velocitycu.com |
Branches: | 6 branch locations |
Members: | 83,030 |
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: | $1,067,212,201 |
CEO/Manager: | Debbie L Mitchell |
Chairperson: | Kasha Bartholomew |
ASSETS: | $ Amount |
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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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