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VERMILION SCHOOL EMPLOYEES CREDIT UNION

Dec, 31, 2023 — VERMILION SCHOOL EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in ABBEVILLE, LA with 1 branch location and about $14.93 million in total assets. Opened 51 years ago in 1973, VERMILION SCHOOL EMPLOYEES CREDIT UNION has about 2,060 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:VERMILION SCHOOL EMPLOYEES CREDIT UNION
Address:
(Main Office)
107 S Louisiana St
ABBEVILLE, LA 70510
Phone:(337) 898-1388
Fax:(337) 898-6011
Website:https://vermilioncu.org
Branches:1 branch locations
Members:2,060
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:61540
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1973
Last Audited:Mar 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$14,930,829
CEO/Manager:Chasity D Landry
Chairperson:Kirk P Soileau

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,221,316
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 2,093,518
 Other Loans 4,609,443
 TOTAL LOANS 6,702,961
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -19,791
 Land And Building 139,223
 Other Fixed Assets 13
 NCUSIF Deposit 129,170
 All Other Assets 0
  TOTAL ASSETS 14,930,829
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 200,031
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 12,561,185
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 12,561,185
  TOTAL LIABILITIES 12,761,216
 Regular Reserve 0
 Other Reserves 267,134
 Undivided Earnings 1,902,479
  TOTAL EQUITY 2,169,613
  TOTAL LIABILITIES, SHARES, & EQUITY 14,930,829
INCOME & EXPENSE  
 Loan Income 293,927
 Investment Income 292,257
 Other Income 9,340
 Total Employee Compensation & Benefits 115,476
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 143,065
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 171,966
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 169,892
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