Overview / Commentary
VITAL Federal Credit Union is headquartered in Spartanburg and is the 29th largest credit union in the state of South Carolina. It is also the 2,252nd largest credit union in the nation. It was established in 1964 and as of September of 2022, it had grown to 16 employees and 6,704 members at 2 locations. VITAL Federal Credit Union has a B+ health rating.
Field of Membership Restrictions
Membership is open to those who live, work, worship, or attend school in Spartanburg County, and to employees of select area businesses.
See current membership details
Health
B+
Data as of Q3 2022
Learn why bank health mattersAdditional Factors: Institutions with a small asset base, a short operating history, or negative return on assets can represent an instability risk beyond what their financial ratios indicate. VITAL Federal Credit Union has a relatively low asset base.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 24536 |
| Year Chartered | 1964 |
| Employees | 16 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.76% |
| Return on Equity - YTD | 7.72% |
| Annual Interest Income | $1.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2022vs Q3 2021 | $65.4MM$66.7MM |
| Loans | Q3 2022vs Q3 2021 | $42.8MM$41.4MM |
| Deposits | Q3 2022vs Q3 2021 | $58.5MM$60.4MM |
| Equity Capital | Q3 2022vs Q3 2021 | $6.5MM$6.0MM |
| Loan Loss Allowance | Q3 2022vs Q3 2021 | $124.00K$160.00K |
| Unbacked Noncurrent Loans | Q3 2022vs Q3 2021 | $24.00K$17.00K |
| Real Estate Owned | Q3 2022vs Q3 2021 | $0$0 |