Totals
- Total revenue
- $25,980,550
- Total expenses
- $21,228,536
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $23,917,929
- Investment income
- $1,727,552
- Other revenue
- $335,069
- Total assets, end of year
- $442,285,909
- Total liabilities, end of year
- $389,695,320
- Net assets or fund balances, end of year
- $52,590,589
- Program services expenses (Part IX)
- not reported
- Management and general expenses
- not reported
- Fundraising expenses
- not reported
- Program service expenses (Part III)
- not reported
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
2a · Program service revenue: LOAN INTEREST
total $17,482,538 · related or exempt $17,482,538
-
2b · Program service revenue: LOAN, SHARE AND OTHER FEES
total $5,568,128 · related or exempt $5,535,253 · unrelated business $32,875
-
2c · Program service revenue: MEMBER CREDIT LIFE AND CREDIT DIS
total $867,263 · related or exempt $867,263
-
3 · Investment income
total $1,727,552 · excluded $1,727,552
-
6a · Gross rents
real property $394,419
-
6b · Less rental expenses
real property $595,750
-
6c · Rental income or loss
real property -$201,331
-
6d · Net rental income or loss
total -$201,331 · excluded -$201,331
-
11a · Other revenue: OTHER MEMBER INSURANCE INCOME
total $528,570 · related or exempt $497,070 · unrelated business $31,500
-
11b · Other revenue: PARTNER LOAN ADMINISTRATION
total $7,830 · related or exempt $7,830
-
11e · Other revenue, total
$536,400
Functional expenses
Part IX, the statement of functional expenses.
-
4 · Benefits paid to or for members
total $3,305,308
-
5 · Compensation of officers, directors and key employees
total $563,153
-
7 · Other salaries and wages
total $6,552,420
-
8 · Pension plan contributions
total $199,271
-
9 · Other employee benefits
total $783,069
-
10 · Payroll taxes
total $551,833
-
11b · Fees: legal
total $29,941
-
11c · Fees: accounting
total $96,145
-
11g · Fees: other
total $355,923
-
12 · Advertising and promotion
total $698,006
-
13 · Office expenses
total $1,341,412
-
14 · Information technology
total $123,210
-
16 · Occupancy
total $582,686
-
17 · Travel
total $14,799
-
19 · Conferences, conventions and meetings
total $142,047
-
20 · Interest
total $10,354
-
22 · Depreciation, depletion and amortization
total $727,702
-
23 · Insurance
total $115,937
-
24a · Other expenses: UNRELATED BUSINESS INCO
total $15,589
-
24b · Other expenses: PROCESSING CHARGES AND
total $2,911,879
-
24c · Other expenses: PROVISION FOR LOAN AND
total $971,322
-
24d · Other expenses: LOAN SERVICING
total $780,863
-
24e · All other expenses
total $355,667
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $16,660,057 · end of year $35,646,367
-
2 · Savings and temporary cash investments
beginning of year $47,378,165 · end of year $30,911,247
-
4 · Accounts receivable
beginning of year $697,542 · end of year $992,426
-
5 · Loans and receivables from officers and key people
beginning of year $1,019,466 · end of year $1,038,066
-
7 · Other notes and loans receivable
beginning of year $302,383,902 · end of year $316,971,454
-
9 · Prepaid expenses and deferred charges
beginning of year $615,976 · end of year $410,009
-
10a · Land, buildings and equipment: cost or other basis
$21,291,658
-
10b · Land, buildings and equipment: accumulated depreciation
$10,206,672
-
10c · Land, buildings and equipment, net
beginning of year $10,788,837 · end of year $11,084,986
-
11 · Investments: publicly traded securities
beginning of year $34,766,102 · end of year $34,519,100
-
12 · Investments: other securities
beginning of year $5,917,287 · end of year $5,808,864
-
15 · Other assets
beginning of year $4,737,250 · end of year $4,903,390
-
17 · Accounts payable and accrued expenses
beginning of year $3,852,389 · end of year $4,895,186
-
19 · Deferred revenue
beginning of year $123,849 · end of year $225,922
-
21 · Escrow or custodial account liability
beginning of year $266,800 · end of year $269,088
-
23 · Secured mortgages and notes payable
beginning of year $3,000,000 · end of year $0
-
25 · Other liabilities
beginning of year $369,573,673 · end of year $384,305,124
-
29 · Capital stock, trust principal or current funds
beginning of year $0 · end of year $0
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $0 · end of year $0
-
31 · Retained earnings, endowment or other funds
beginning of year $48,147,873 · end of year $52,590,589
Mission and programs · 2023
Mission
BUILDING RELATIONSHIPS WITH PEOPLE IN OUR COMMUNITIES AND UNITING WITH THEM TO ACHIEVE THEIR DREAMS.
-
VALLEY FINANCIAL CREDIT UNION PROVIDES MEMBERS WITH TOP-NOTCH FINANCIAL SERVICES WITH PERSONALIZED, ACCOMODATING SERVICE. VALLEY FINANCIAL CREDIT UNION OFFERS MEMBERS PERSONAL CHECKING AND SAVINGS ACCOUNTS; BUSINESS ACCOUNTS; CREDIT AND DEBIT CARDS; IRAS; PERSONAL, BUSINESS, VEHICLE, AND HOME LOANS; AND OVERDRAFT PROTECTION. ADDITIONAL SERVICES INCLUDE MUTUAL, MEMBERSHIP BENEFIT PROGRAMS, FINANCIAL EDUCATION, NEWSLETTERS, DEPOSIT AND LOAN INSURANCE PROTECTION, AND CONSUMER INFORMATION.
As filed on the 2023 return.
Listed in Part VII
-
Casey KleinCASEY KLEIN
CHIEF EXECUTIVE OFFICER
- Total calculated
- $372,877
- From this org
- $334,601
- From related orgs
- $0
- Other
- $38,276
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $293,801
- Bonus
- $40,500
- Other
- $300
- Deferred
- $13,200
- Nontaxable benefits
- $25,076
- Filer's total
- $372,877
-
Scott KanningSCOTT KANNING
CHIEF FINANCIAL OFFICER
- Total calculated
- $190,276
- From this org
- $171,413
- From related orgs
- $0
- Other
- $18,863
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $156,854
- Bonus
- $13,874
- Other
- $685
- Deferred
- $8,658
- Nontaxable benefits
- $10,205
- Filer's total
- $190,276
-
Cindy RoeslerCINDY ROESLER
CHIEF RISK OFFICER
- Total calculated
- $171,402
- From this org
- $149,670
- From related orgs
- $0
- Other
- $21,732
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $129,677
- Bonus
- $18,248
- Other
- $1,745
- Deferred
- $7,759
- Nontaxable benefits
- $13,973
- Filer's total
- $171,402
-
Kindra McMullinKINDRA MCMULLIN
CHIEF OPERATIONS OFFICER
- Total calculated
- $156,837
- From this org
- $136,972
- From related orgs
- $0
- Other
- $19,865
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $123,107
- Bonus
- $12,242
- Other
- $1,623
- Deferred
- $7,068
- Nontaxable benefits
- $12,797
- Filer's total
- $156,837
-
Alan VogtALAN VOGT
SR VP COMMERCIAL SERVICES
- Total calculated
- $142,442
- From this org
- $131,990
- From related orgs
- $0
- Other
- $10,452
- Hours/week
- 40
-
Brandon ScalaBRANDON SCALA
SR VP OF BUSINESS DEVELOPMENT
- Total calculated
- $124,474
- From this org
- $117,552
- From related orgs
- $0
- Other
- $6,922
- Hours/week
- 40
-
Christopher LorashCHRISTOPHER LORASH
SR VP OF MORTGAGE AND CONSUMER LENDING
- Total calculated
- $120,822
- From this org
- $116,448
- From related orgs
- $0
- Other
- $4,374
- Hours/week
- 40
-
Reg GibbsREG GIBBS
BOARD CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 1
-
Wes OjaWES OJA
VICE CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1
-
Ann AdairANN ADAIR
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Jordan FrickleJORDAN FRICKLE
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Chuck SommersCHUCK SOMMERS
OUTGOING TREASURER/EMERITUS
- Total calculated
- $0
- Hours/week
- 1
-
Gabriel BrianoGABRIEL BRIANO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Kyle BruckerKYLE BRUCKER
DIRECTOR - OUTGOING
- Total calculated
- $0
- Hours/week
- 1
-
Lisa HuertasLISA HUERTAS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Independent compensation consultant
- 3 · Written employment contract
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
The filer's explanations (Part III)
- PART I, LINE 3
- VALLEY CREDIT UNION HAS HIRED COMPENSATION CONSULTANT BALANCEDCOMP TO ASSIST WITH MAKING FAIR AND APPROPRIATE COMPENSATION DECISIONS. THIS INDEPENDENT CONSULTING FIRM SPECIALIZES IN PROVIDING GUIDANCE TO THE FINANCIAL INDUSTRY. BALANCEDCOMP PROVIDES THE BOARD WITH A REPORT INCLUDING A COMPENSATION SURVEY AND THE BOARD USES THIS INDEPENDENT INFORMATION TO DETERMINE THE CEO'S REGULAR COMPENSATION. THE BOARD USES PRIMARILY A MATHEMATICAL FORMULA TO DETERMINE THE CEO'S INCENTIVE COMPENSATION; THIS FORMULA IS BASED ON CREDIT UNION PERFORMANCE FACTORS. THERE IS ONLY A SMALL COMPONENT OF CEO INCENTIVE COMPENSATION THAT IS AT THE BOARD'S DISCRETION.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
VALLEY CUSO LLC
INACTIVE · MT · income $0 · assets $3,720
Directly controlled by VALLEY FINANCIAL CREDIT UNION
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 14 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202403199349316830
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.