Overview / Commentary
VITAL Federal Credit Union is headquartered in Spartanburg and is the 31st largest credit union in the state of South Carolina. It is also the 2,301st largest credit union in the nation. It was established in 1964 and as of June of 2023, it had grown to 15 employees and 6,635 members at 1 location. VITAL Federal Credit Union's CD rates are 4X the national average, and it has a B health rating.
Field of Membership Restrictions
Membership in Vital Federal Credit Union is open to those who live, work, worship, or attend school in Spartanburg County, South Carolina.
See current membership details
Health
B
Data as of Q2 2023
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 | 15 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.36% |
| Return on Equity - YTD | 10.71% |
| Annual Interest Income | $1.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $60.1MM$67.0MM |
| Loans | Q2 2023vs Q2 2022 | $48.1MM$42.0MM |
| Deposits | Q2 2023vs Q2 2022 | $52.0MM$60.4MM |
| Equity Capital | Q2 2023vs Q2 2022 | $7.7MM$6.4MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $0$134.00K |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $51.00K$5.00K |
| Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |