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 2,277th largest credit union in the nation. It was established in 1964 and as of December of 2020, it had grown to 19 employees and 7,244 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 Q4 2020
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 | 19 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.09% |
| Return on Equity - YTD | 0.9% |
| Annual Interest Income | $1.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2020vs Q4 2019 | $59.9MM$52.5MM |
| Loans | Q4 2020vs Q4 2019 | $40.0MM$41.0MM |
| Deposits | Q4 2020vs Q4 2019 | $53.9MM$46.5MM |
| Equity Capital | Q4 2020vs Q4 2019 | $5.8MM$5.7MM |
| Loan Loss Allowance | Q4 2020vs Q4 2019 | $122.00K$138.00K |
| Unbacked Noncurrent Loans | Q4 2020vs Q4 2019 | $30.00K$147.00K |
| Real Estate Owned | Q4 2020vs Q4 2019 | $0$0 |