Dec, 31, 2023 — VALLEY FIRST CREDIT UNION is a federally insured state chartered credit union headquartered in MODESTO, CA with 8 branch locations and about $1.02 billion in total assets. Opened 68 years ago in 1956, VALLEY FIRST CREDIT UNION has about 78,174 members and employs 170 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | VALLEY FIRST CREDIT UNION |
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Address: (Main Office) | 1005 W Orangeburg Ave MODESTO, CA 95350 |
Phone: | (209) 549-8500 |
Fax: | (209) 579-4120 |
Website: | https://www.valleyfirstcu.org |
Branches: | 8 branch locations |
Members: | 78,174 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 68402 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1956 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $1,019,297,446 |
CEO/Manager: | Kathryn Davis |
Chairperson: | Chris Peterson |
ASSETS: | $ Amount |
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Cash & Equivalents | 76,043,132 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 200,129,262 |
Unsecured Loans | 55,164,728 |
Other Loans | 485,171,889 |
TOTAL LOANS | 740,465,879 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -8,461,911 |
Land And Building | 5,724,759 |
Other Fixed Assets | 11,833,680 |
NCUSIF Deposit | 7,807,594 |
All Other Assets | 1,608,967 |
TOTAL ASSETS | 1,019,297,446 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 118,000,000 |
Accounts Payable & Other Liabilities | 16,006,796 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 162,794,621 |
Regular shares | 361,547,511 |
All Other Shares & Deposits | 277,189,592 |
TOTAL SHARES & DEPOSITS | 801,531,724 |
TOTAL LIABILITIES | 935,538,520 |
Regular Reserve | 0 |
Other Reserves | -7,133,759 |
Undivided Earnings | 90,892,685 |
TOTAL EQUITY | 83,758,926 |
TOTAL LIABILITIES, SHARES, & EQUITY | 1,019,297,446 |
INCOME & EXPENSE | |
Loan Income | 37,456,778 |
Investment Income | 4,278,903 |
Other Income | 7,267,246 |
Total Employee Compensation & Benefits | 15,157,226 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 18,369,498 |
Non-operating Income & (Expense) | -386 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,206,290 |
Cost of Funds | 10,258,070 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 9,414,726 |
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