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VERVE, A CREDIT UNION

Dec, 31, 2023 — VERVE, A CREDIT UNION is a federally insured state chartered credit union headquartered in OSHKOSH, WI with 20 branch locations and about $1.48 billion in total assets. Opened 86 years ago in 1938, VERVE, A CREDIT UNION has about 62,538 members and employs 270 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: 275981187
Name:VERVE, A CREDIT UNION
Address:
(Main Office)
2900 Universal St
OSHKOSH, WI 54904
Phone:(920) 236-7040
Fax:(920) 236-7985
Website:https://www.verveacu.com
Branches:20 branch locations
Members:62,538
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:66777
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1938
Last Audited:Dec 01, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$1,479,022,618
CEO/Manager:Kevin J Ralofsky
Chairperson:Victoria L Beltran

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 104,902,926
TOTAL INVESTMENTS 0
Loans Held for Sale 1,235,503
 
 Real Estate Loans 802,450,740
 Unsecured Loans 36,503,277
 Other Loans 215,645,992
 TOTAL LOANS 1,054,600,009
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -4,719,711
 Land And Building 28,659,041
 Other Fixed Assets 6,190,843
 NCUSIF Deposit 11,516,358
 All Other Assets 132,528
  TOTAL ASSETS 1,479,022,618
LIABILITIES & CAPITAL:  
 Dividends Payable 2,243
 Notes & Interest Payable 88,892,378
 Accounts Payable & Other Liabilities 19,931,801
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 319,520,329
 Regular shares 300,922,622
 All Other Shares & Deposits 646,974,264
  TOTAL SHARES & DEPOSITS 1,267,417,215
  TOTAL LIABILITIES 1,376,243,637
 Regular Reserve 0
 Other Reserves -9,606,327
 Undivided Earnings 112,385,308
  TOTAL EQUITY 102,778,981
  TOTAL LIABILITIES, SHARES, & EQUITY 1,479,022,618
INCOME & EXPENSE  
 Loan Income 49,079,469
 Investment Income 8,380,780
 Other Income 4,392,508
 Total Employee Compensation & Benefits 21,932,288
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 24,834,109
 Non-operating Income & (Expense) -23,402
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -19,122
 Cost of Funds 23,645,853
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -1,367,381
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