Skip to content
Nonprofiteer
← VIZO FINANCIAL CORPORATE CREDIT UNION

Form 990 for tax year 2024

Filed by VIZO FINANCIAL CORPORATE CREDIT UNION.

Totals

Total revenue
$342,674,561
Total expenses
$309,550,906
Contributions and grants received
$0
Grants paid
$89,100
Program service revenue
$19,982,399
Investment income
$323,955,161
Other revenue
-$1,262,999
Total assets, end of year
$6,045,495,809
Total liabilities, end of year
$5,460,539,370
Net assets or fund balances, end of year
$584,956,439
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: CORRESPONDENT SERVICES

    total $18,972,077 · related or exempt $18,972,077

  • 2b · Program service revenue: INCOME ON LOANS

    total $1,010,322 · related or exempt $1,010,322

  • 3 · Investment income

    total $323,955,161 · related or exempt $323,955,161

  • 11a · Other revenue: EQUITY METHOD INCOME F

    total -$1,262,999 · related or exempt -$1,262,999

  • 11e · Other revenue, total

    -$1,262,999

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $89,100

  • 5 · Compensation of officers, directors and key employees

    total $2,361,272

  • 7 · Other salaries and wages

    total $12,742,121

  • 8 · Pension plan contributions

    total $1,497,153

  • 9 · Other employee benefits

    total $4,194,148

  • 10 · Payroll taxes

    total $1,126,964

  • 11b · Fees: legal

    total $122,692

  • 11c · Fees: accounting

    total $320,264

  • 11g · Fees: other

    total $1,569,809

  • 12 · Advertising and promotion

    total $369,351

  • 13 · Office expenses

    total $2,344,302

  • 14 · Information technology

    total $2,913,171

  • 16 · Occupancy

    total $1,353,572

  • 17 · Travel

    total $407,310

  • 19 · Conferences, conventions and meetings

    total $767,156

  • 20 · Interest

    total $259,030,144

  • 21 · Payments to affiliates

    total $610,486

  • 22 · Depreciation, depletion and amortization

    total $1,869,481

  • 23 · Insurance

    total $293,533

  • 24a · Other expenses: CORRESPONDENT SERVICES

    total $12,994,811

  • 24b · Other expenses: MISCELLANEOUS EXPENSE

    total $2,338,662

  • 24c · Other expenses: MAINTENANCE

    total $235,404

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $9,253,581 · end of year $13,616,105

  • 2 · Savings and temporary cash investments

    beginning of year $3,064,455,531 · end of year $2,867,191,795

  • 4 · Accounts receivable

    beginning of year $56,752,424 · end of year $34,050,562

  • 5 · Loans and receivables from officers and key people

    beginning of year $8,056,970 · end of year $30,349,179

  • 7 · Other notes and loans receivable

    beginning of year $34,585,561 · end of year $32,100,097

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,952,169 · end of year $2,800,171

  • 10a · Land, buildings and equipment: cost or other basis

    $11,838,795

  • 10b · Land, buildings and equipment: accumulated depreciation

    $11,218,482

  • 10c · Land, buildings and equipment, net

    beginning of year $1,383,017 · end of year $620,313

  • 11 · Investments: publicly traded securities

    beginning of year $2,781,191,124 · end of year $3,006,721,490

  • 12 · Investments: other securities

    beginning of year $14,857,194 · end of year $19,088,646

  • 15 · Other assets

    beginning of year $70,423,409 · end of year $38,957,451

  • 17 · Accounts payable and accrued expenses

    beginning of year $55,633,357 · end of year $56,248,532

  • 23 · Secured mortgages and notes payable

    beginning of year $750,000,000

  • 25 · Other liabilities

    beginning of year $4,681,874,704 · end of year $5,404,290,838

  • 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 $555,402,919 · end of year $584,956,439

Mission and programs · 2024

Mission

ACCELERATING CREDIT UNION SUCCESS THROUGH PROVEN INSIGHT, UNMATCHED EXPERTISE AND TRUSTED PARTNERSHIPS.

Activities or mission (Part I)

VIZO FINANCIAL IS THE CREDIT UNIONS' 'CREDIT UNION' OFFERING LIQUIDITY SERVICES, INVESTMENT SOLUTIONS AND PAYMENT SERVICES.

  • SETTLEMENT AND PAYMENT SERVICES: WE PROVIDE AGGREGATED PAYMENT SERVICES SO CREDIT UNIONS CAN EFFICIENTLY, AND COST EFFECTIVELY SERVE THEIR MEMBERS, PROVIDING THEM TOOLS FOR MOVING MONEY ELECTRONICALLY.

  • FUNDS MANAGEMENT & LIQUIDITY SERVICES: ONE OF THE KEY SERVICES WE PROVIDE MEMBERS IS A COMPLETE LINE OF COMPETITIVE SHORT-TERM DEPOSIT PRODUCTS COMBINED WITH LINES-OF-CREDIT SO THAT THEY CAN MORE EFFECTIVELY MANAGE THEIR CASH FLOW NEEDS.

  • ASSET-LIABILITY MANAGEMENT (ALM) AND RISK MANAGEMENT SERVICES: ALM SERVICES INCLUDE BOTH CONSULTING AND MODELING RISKS INHERENT IN A CREDIT UNION'S BALANCE SHEET. OUR RISK MANAGEMENT SERVICES INCLUDE COMPLIANCE/REGULATORY TRAINING, INFORMATION SYSTEM RISK ASSESSMENTS, BUSINESS CONTINUITY PLANNING, AND ENTERPRISE RISK MANAGEMENT BEST PRACTICES. THESE SERVICES ARE DESIGNED TO HELP CREDIT UNIONS BEST UNDERSTAND AND MITIGATE RISKS THEY ENCOUNTER IN THEIR OPERATIONS.

As filed on the 2024 return.

Listed in Part VII

  • Scott Woods

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • Jeff Chelius

    BOARD CHAIRPERSON

    Total calculated
    $0
    Hours/week
    3

  • Genice Decorte

    BOARD TREASURER

    Total calculated
    $0
    Hours/week
    3

  • Daniel Berry

    BOARD VICE CHAIRPERSON

    Total calculated
    $0
    Hours/week
    3

  • Derek Fuzzell

    BOARD SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Paul Hughes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jerry King

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Mark Volponi

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Scott Weaver

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Fred Eisel

    PRESIDENT/CEO

    Total calculated
    $607,268
    From this org
    $550,991
    From related orgs
    $0
    Other
    $56,277
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $440,673
    Bonus
    $72,000
    Other
    $38,318
    Deferred
    $31,050
    Nontaxable benefits
    $25,227
    Filer's total
    $607,268

  • Mark Brown

    SVP/CHIEF FINANCIAL OFFICER

    Total calculated
    $559,484
    From this org
    $410,293
    From related orgs
    $0
    Other
    $149,191
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $298,082
    Bonus
    $64,688
    Other
    $47,523
    Deferred
    $111,810
    Nontaxable benefits
    $37,381
    Filer's total
    $559,484

  • David Brehmer

    PRESIDENT/CEO (RETIRED 01/05/24)

    Total calculated
    $234,346
    From this org
    $218,678
    From related orgs
    $0
    Other
    $15,668
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $66,635
    Bonus
    $151,882
    Other
    $161
    Deferred
    $15,668
    Nontaxable benefits
    $0
    Filer's total
    $234,346

  • Timothy J Sustak

    SVP/CHIEF TREASURY OFFICER

    Total calculated
    $604,304
    From this org
    $544,979
    From related orgs
    $0
    Other
    $59,325
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $200,775
    Bonus
    $43,875
    Other
    $300,329
    Deferred
    $22,019
    Nontaxable benefits
    $37,306
    Filer's total
    $604,304

  • Scott Wood

    SVP/CHIEF INVESTMENT OFFICER

    Total calculated
    $355,870
    From this org
    $291,524
    From related orgs
    $0
    Other
    $64,346
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $240,899
    Bonus
    $50,625
    Other
    $0
    Deferred
    $26,965
    Nontaxable benefits
    $37,381
    Filer's total
    $355,870

  • Jeffrey Stoner

    SVP/CHIEF STRATEGY & TECHNOLOGY OFFICER

    Total calculated
    $847,427
    From this org
    $778,996
    From related orgs
    $0
    Other
    $68,431
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $287,265
    Bonus
    $62,518
    Other
    $429,213
    Deferred
    $31,050
    Nontaxable benefits
    $37,381
    Filer's total
    $847,427

  • Rodney May

    SVP/CHIEF ENGAGEMENT OFFICER

    Total calculated
    $774,681
    From this org
    $708,619
    From related orgs
    $0
    Other
    $66,062
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $261,523
    Bonus
    $57,150
    Other
    $389,946
    Deferred
    $28,681
    Nontaxable benefits
    $37,381
    Filer's total
    $774,681

  • Lori Gall

    SVP/CHIEF RISK OFFICER

    Total calculated
    $734,203
    From this org
    $681,557
    From related orgs
    $0
    Other
    $52,646
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $250,571
    Bonus
    $54,090
    Other
    $376,896
    Deferred
    $27,419
    Nontaxable benefits
    $25,227
    Filer's total
    $734,203

  • Joseph Bertotto

    SVP/CHIEF CULTURE OFFICER

    Total calculated
    $652,580
    From this org
    $603,105
    From related orgs
    $0
    Other
    $49,475
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $221,941
    Bonus
    $48,105
    Other
    $333,059
    Deferred
    $24,304
    Nontaxable benefits
    $25,171
    Filer's total
    $652,580

  • Janice Appleby

    SVP/CHIEF HUMAN RESOURCES

    Total calculated
    $622,241
    From this org
    $585,023
    From related orgs
    $0
    Other
    $37,218
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $215,712
    Bonus
    $46,946
    Other
    $322,365
    Deferred
    $23,639
    Nontaxable benefits
    $13,579
    Filer's total
    $622,241

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

  • 1a · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 4B
CERTAIN MEMBERS OF MANAGEMENT PARTICIPATE IN A 457(F) PLAN. BENEFIT INFORMATION AS OF DECEMBER 31, 2024 FOR EACH OF THE PARTICIPANTS IS AS FOLLOWS: JANICE APPLEBY: $325,494 (BENEFIT PAYOUT) RODNEY MAY: $394,335 (BENEFIT PAYOUT) JEFFREY STONER: $433,462 (BENEFIT PAYOUT) TIMOTHY SUSTAK: $302,738 (BENEFIT PAYOUT) LORI GALL: $378,630 (BENEFIT PAYOUT) JOSEPH BERTOTTO: $335,132 (BENEFIT PAYOUT) THE 457(F) BENEFIT EXPENSE ACCRUED DURING 2024 FOR EACH OF THE PARTICPANTS REPORTED IN PART VII IS AS FOLLOWS: MARK BROWN: $80,760

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

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.

  • MY CU SERVICES LLC

    PAYMENT SERVICES · PA · income $12,315,876 · assets $21,826,880

    Directly controlled by VIZO FINANCIAL CORPORATE CREDIT UNION

Provenance

Return type
form_990
Tax year
2024
Filed
3 July 2025
IRS schema version
2024v5.2
Source object
202531849349301608

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.