Overview / Commentary
VITAL Federal Credit Union is headquartered in Spartanburg and is the 30th largest credit union in the state of South Carolina. It is also the 2,280th largest credit union in the nation. It was established in 1964 and as of September of 2019, it had grown to 18 employees and 7,380 members at 2 locations. VITAL Federal Credit Union's CD rates are 67% higher than the national average, and it 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
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Health
B+
Data as of Q3 2019
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 | 18 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.58% |
| Return on Equity - YTD | 5.48% |
| Annual Interest Income | $1.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2019vs Q3 2018 | $52.7MM$52.0MM |
| Loans | Q3 2019vs Q3 2018 | $41.5MM$37.5MM |
| Deposits | Q3 2019vs Q3 2018 | $46.6MM$46.1MM |
| Equity Capital | Q3 2019vs Q3 2018 | $5.7MM$5.3MM |
| Loan Loss Allowance | Q3 2019vs Q3 2018 | $143.00K$165.00K |
| Unbacked Noncurrent Loans | Q3 2019vs Q3 2018 | $93.00K$52.00K |
| Real Estate Owned | Q3 2019vs Q3 2018 | $0$0 |