VIRGINIA FEDERAL CREDIT UNION

As filed

Subsection

01

Classification

1000

Street

7500 BOULDER VIEW DR

These codes are the IRS's own and are shown exactly as filed. What each one means is in the Business Master File documentation (opens in a new tab).

Mission and programs · 2023

• VIRGINIA CREDIT UNION (VACU) HAS BEEN A PILLAR OF SUPPORT FOR THE COMMUNITY FOR NEARLY A CENTURY. BASED ON MEMBER FEEDBACK, IN 2023 VACU CONTINUED TO FOCUS ITS CHARITABLE CONTRIBUTIONS IN THREE AREAS: FINANCIAL EDUCATION, FOOD SECURITY, AND CHILDREN. ALTHOUGH THERE ARE MANY WORTHY CHARITIES ACROSS VIRGINIA, OUR HOPE IS THAT BY BEING FOCUSED AND INTENTIONAL WE CAN ACHIEVE GREATER IMPACT IN THESE THREE AREAS.IN THE PAST YEAR, VACU HAS MADE CHARITABLE CONTRIBUTIONS OF APPROXIMATELY $2 MILLION TO OVER 200 RECIPIENTS, ENCOMPASSING FINANCIAL, VOLUNTEER, AND IN-KIND DONATIONS. VOLUNTEERS FROM THE CREDIT UNION HAVE DEDICATED APPROXIMATELY 2,100 HOURS OF THEIR TIME THIS YEAR, PARTICIPATING IN VARIOUS COMMUNITY EVENTS, FROM MENTORING STUDENTS TO ORGANIZING DRIVES TO COLLECT ESSENTIAL SCHOOL SUPPLIES FOR LOCAL STUDENTS. OUR COMMITMENT TO THE LOCAL RICHMOND COMMUNITY IS FURTHER EVIDENT BY THE FIVE BRANCHES WE'VE OPENED SINCE JUNE 2022.RECOGNIZING THE POWER OF FINANCIAL LITERACY, VACU'S TEAM OF FINANCIAL SUCCESS EDUCATORS REACHED APPROXIMATELY 100,000 INDIVIDUALS IN 2023, WITH THEIR EFFORTS AMPLIFIED THROUGH THEIR LIBRARY OF FINANCIAL EDUCATION RESOURCES. THE TEAM'S VIDEOS, ARTICLES, AND EXPERTISE WERE FEATURED OVER 4,000 TIMES ACROSS THE U.S. REACHING MILLIONS OF VIEWERS.THE IMPACT OF VACU'S FINANCIAL EDUCATION INITIATIVES IS EVIDENT THROUGH VARIOUS PROGRAMS AND PARTNERSHIPS. FROM PROVIDING FINANCIAL EDUCATION CLASSES TO ORGANIZATIONS SUCH AS RICHMOND CITY'S OFFICE OF COMMUNITY WEALTH BUILDERS AND THE YMCA OF RICHMOND, TO SUPPORTING INITIATIVES LIKE RICHMOND PUBLIC SCHOOLS SAVES AND RVA READS, VACU IS DEDICATED TO EMPOWERING INDIVIDUALS WITH THE KNOWLEDGE AND SKILLS TO MAKE INFORMED FINANCIAL DECISIONS.VACU'S COMMITMENT TO COMMUNITY AND FINANCIAL EDUCATION HAS NOT GONE UNNOTICED. WE WERE HONORED WITH THE RICHMOND ECONOMIC DEVELOPMENT PARTNER OF THE YEAR AWARD FOR OUTSTANDING EDUCATIONAL AND CIVIC CONTRIBUTIONS. ADDITIONALLY, VACU WAS RANKED NUMBER ONE AND TWO IN THE COUNTRY FOR FINANCIAL EDUCATION FOR ADULTS AND YOUTH, RESPECTIVELY, BY BOTH STATE AND NATIONAL ASSOCIATIONS FOR CREDIT UNIONS.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Officers and directors · 2023

As listed in Part VII of the 2023 return, in the order the filer printed them. Each return names its own; this is not a roster the organization keeps with us.

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. Earlier years are each on their own filing page.

Filings

• 2023

  Revenue

  $341,774,027

  Expenses

  $319,471,859

  Contributions

  $0

  Grants paid

  $1,389,000

• 2022

  Revenue

  $269,593,613

  Expenses

  $219,484,073

  Contributions

  $0

  Grants paid

  $1,267,500

The four totals the IRS asks for on Part I of the Form 990, as filed. A dash means the figure was not present on the return — not that it was zero.

Other returns filed

• 2021 · 990

  Revenue

  $263,088,979

  Expenses

  $212,439,527

  Assets (EOY)

  $4,993,101,039

• 2020 · 990

  Revenue

  $279,286,306

  Expenses

  $249,381,398

  Assets (EOY)

  $4,532,757,612

• 2019 · 990

  Revenue

  $246,247,063

  Expenses

  $207,475,395

  Assets (EOY)

  $3,729,406,291

• 2018 · 990

  Revenue

  $213,935,125

  Expenses

  $178,335,094

  Assets (EOY)

  $3,638,027,361

• 2017 · 990

  Revenue

  $188,958,255

  Expenses

  $166,608,921

  Assets (EOY)

  $3,490,132,611

• 2016 · 990

  Revenue

  $168,529,950

  Expenses

  $148,940,859

  Assets (EOY)

  $3,303,925,959

• 2015 · 990

  Revenue

  $150,828,236

  Expenses

  $125,850,391

  Assets (EOY)

  $2,920,248,809

• 2014 · 990

  Revenue

  $136,729,875

  Expenses

  $108,860,933

  Assets (EOY)

  $2,681,181,830

• 2013 · 990

  Revenue

  $127,354,984

  Expenses

  $105,295,147

  Assets (EOY)

  $2,545,894,840

• 2012 · 990

  Revenue

  — not reported

  Expenses

  $106,726,557

  Assets (EOY)

  $2,385,518,135

Nonprofiteer parses Forms 990, 990-EZ and 990-PF, in a window of recent tax years. These returns are recorded from the IRS e-file index, so their figures were extracted by that index rather than read from the return here — treat them as a different source from the filings above, not as more of the same record. A dash means the index carries no figure; Form 990-T listings carry none at all. Showing the 10 most recent; the API carries the rest.

Grants made

• VCU SCHOOL OF BUSINESS FOUNDATION

  $1,000,000

  2023 · VACU FINANCIAL SUCCESS CENTER AT VCU

• VCU SCHOOL OF BUSINESS FOUNDATION

  $1,000,000

  2022 · VACU FINANCIAL SUCCESS CENTER AT VCU

• VCU

  $50,000

  2023 · GENERAL SUPPPORT

• WORLDWIDE FOUNDATION FOR CREDIT UNIONS

  $50,000

  2023 · GENERAL SUPPORT

• CHAMBER RVA

  $30,000

  2023 · HYPE PROGRAM, MISSION TOMORROW; GENERAL SUPPORT

• BOYS AND GIRLS CLUB

  $25,000

  2023 · GENERAL SUPPORT

• CMN HOSPITALS

  $25,000

  2022 · GENERAL SUPPORT

• JR ACHIEVEMENT

  $22,800

  2022 · JA FINANCE PARK VOLUNTEER ROOM SPONSORSHIP

• UVA RECTOR & VISITORS

  $22,010

  2022 · VIRGINIA ATHLETIC FOUNDATION

• YMCA GREATER RICHMOND

  $20,875

  2022 · ANNUAL CAMPAIGN

The 10 largest by cash amount. The API serves every itemized grant.

Where these grants went next →

Grants received

• NATIONAL CREDIT UNION FOUNDATION INC

  $30,000

  2024 · FOSTER YOUTH GRANT

Taxable family

From Schedule R Parts I, III and IV: entities that legally are the filer, and taxable partnerships, corporations and trusts it is related to. These record ownership and control, not shared board members or money.

Other IRS files