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.
Name: | VERVE, A CREDIT UNION |
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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 |
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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 |
ASSETS: | $ Amount |
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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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