Dec, 31, 2023 — VIBE CREDIT UNION is a federally insured state chartered credit union headquartered in NOVI, MI with 14 branch locations and about $1.23 billion in total assets. Opened 71 years ago in 1953, VIBE CREDIT UNION has about 79,456 members and employs 240 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | VIBE CREDIT UNION |
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Address: (Main Office) | 44575 W 12 Mile Rd NOVI, MI 48377-2505 |
Phone: | (248) 735-9500 |
Fax: | |
Website: | https://www.vibecu.com |
Branches: | 14 branch locations |
Members: | 79,456 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 61522 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1953 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $1,234,661,523 |
CEO/Manager: | Chaz Rzewnicki |
Chairperson: | Michael Ivanics |
ASSETS: | $ Amount |
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Cash & Equivalents | 103,031,074 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 504,311,745 |
Unsecured Loans | 72,293,576 |
Other Loans | 291,743,749 |
TOTAL LOANS | 868,349,070 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -7,099,481 |
Land And Building | 28,739,577 |
Other Fixed Assets | 3,238,014 |
NCUSIF Deposit | 10,548,086 |
All Other Assets | 440,504 |
TOTAL ASSETS | 1,234,661,523 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 89 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 11,474,723 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 180,557,433 |
Regular shares | 475,635,310 |
All Other Shares & Deposits | 444,495,286 |
TOTAL SHARES & DEPOSITS | 1,100,688,029 |
TOTAL LIABILITIES | 1,112,162,841 |
Regular Reserve | 0 |
Other Reserves | 45,247,578 |
Undivided Earnings | 77,251,104 |
TOTAL EQUITY | 122,498,682 |
TOTAL LIABILITIES, SHARES, & EQUITY | 1,234,661,523 |
INCOME & EXPENSE | |
Loan Income | 44,005,732 |
Investment Income | 6,756,201 |
Other Income | 9,193,420 |
Total Employee Compensation & Benefits | 23,234,726 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 22,440,772 |
Non-operating Income & (Expense) | 3,211,742 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,743,463 |
Cost of Funds | 14,309,173 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 7,642,094 |
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