VALLEY FINANCIAL CREDIT UNION: Form 990, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- VALLEY FINANCIAL CREDIT UNION (EIN 81-0247124)
- Tax period
- 2022-01-01 to 2022-12-31
- Filed
- 2023-11-14
- IRS object ID
- 202313189349317211
- Schema version
- 2022v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2023-11-14T17:31:43-06:00 | ReturnTs |
| Tax Period End | 2022-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 810348775 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | JUNKERMIERCLARKCAMPANELLASTEVENSPC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | P O BOX 989 | AddressLine1Txt |
| City | GREAT FALLS | CityNm |
| State Abbreviation | MT | StateAbbreviationCd |
| ZIP | 59403 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2022-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 810247124 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | VALLEY FINANCIAL CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | VALL | BusinessNameControlTxt |
| Phone | 4066555053 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 20417 | AddressLine1Txt |
| City | BILLINGS | CityNm |
| State Abbreviation | MT | StateAbbreviationCd |
| ZIP | 59104 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | SCOTT KANNING | PersonNm |
| Person Title | CHIEF FINANCIAL OFFICER | PersonTitleTxt |
| Phone | 4066555053 | PhoneNum |
| Signature | 2023-11-14 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | SCOTT | PersonFirstNm |
| Person Last | KANNING | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | XXX-XX-XXXX | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | LANA KADOSHNIKOV CPA | PreparerPersonNm |
| PTIN | P00441678 | PTIN |
| Phone | 4067612820 | PhoneNum |
| Preparation | 2023-11-13 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
Doing Business As Name DoingBusinessAsName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | VALLEY CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | CASEY KLEIN | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 20417 | AddressLine1Txt |
| City | BILLINGS | CityNm |
| State Abbreviation | MT | StateAbbreviationCd |
| ZIP | 59104 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $21,708,831 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | HTTP://WWW.VALLEYFCU.COM/ | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1949 | FormationYr |
| Legal Domicile State | MT | LegalDomicileStateCd |
| Activity Or Mission | BUILDING RELATIONSHIPS WITH PEOPLE IN OUR COMMUNITIES AND UNITING WITH THEM TO ACHIEVE THEIR DREAMS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 5 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 5 | VotingMembersIndependentCnt |
| Total Employee | 135 | TotalEmployeeCnt |
| Total Volunteers | 14 | TotalVolunteersCnt |
| Total Gross UBI | $81,752 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $38,325 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $17,541,907 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $19,467,006 | CYProgramServiceRevenueAmt |
| PY Investment Income | $562,870 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,203,941 | CYInvestmentIncomeAmt |
| PY Other Revenue | $466,035 | PYOtherRevenueAmt |
| CY Other Revenue | $407,112 | CYOtherRevenueAmt |
| PY Total Revenue | $18,570,812 | PYTotalRevenueAmt |
| CY Total Revenue | $21,078,059 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $1,073,062 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $1,079,096 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $6,791,084 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $7,489,617 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $6,638,219 | PYOtherExpensesAmt |
| CY Other Expenses | $8,303,102 | CYOtherExpensesAmt |
| PY Total Expenses | $14,502,365 | PYTotalExpensesAmt |
| CY Total Expenses | $16,871,815 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $4,068,447 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $4,206,244 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $409,425,878 | TotalAssetsBOYAmt |
| Total Assets EOY | $424,964,584 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $365,484,249 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $376,816,711 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $43,941,629 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $48,147,873 | NetAssetsOrFundBalancesEOYAmt |
| Mission | BUILDING RELATIONSHIPS WITH PEOPLE IN OUR COMMUNITIES AND UNITING WITH THEM TO ACHIEVE THEIR DREAMS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | 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. | Desc |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | Yes (1) | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | Yes (1) | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | Yes (1) | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 60 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 135 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 5 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 5 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | Yes (1) | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | Yes (1) | LocalChaptersInd |
| Policies Reference Chapters | Yes (1) | PoliciesReferenceChaptersInd |
| Form990 Provided To Gvrn Body | 0 | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE ORGANIZATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 4066555053 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 20417 | AddressLine1Txt |
| City | BILLINGS | CityNm |
| State Abbreviation | MT | StateAbbreviationCd |
| ZIP | 59104 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (14 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd |
|---|---|---|---|---|---|---|---|---|
| CASEY KLEIN | ||||||||
| CHIEF EXECUTIVE OFFICER | 40.00 | Yes (X) | $304,047 | $0 | $38,506 | |||
| SCOTT KANNING | ||||||||
| CHIEF FINANCIAL OFFICER | 40.00 | Yes (X) | $141,094 | $0 | $17,716 | |||
| ERIC WILSON | ||||||||
| CHIEF LENDING OFFICER | 40.00 | $189,661 | $0 | $20,850 | Yes (X) | |||
| CINDY ROESLER | ||||||||
| CHIEF RISK OFFICER | 40.00 | $123,060 | $0 | $20,283 | Yes (X) | |||
| KINDRA MCMULLIN | ||||||||
| CHIEF OPERATIONS OFFICER | 40.00 | $112,264 | $0 | $18,714 | Yes (X) | |||
| JOSEPH OLIVO | ||||||||
| VP OF MEMBER EXPERIENCE | 40.00 | $107,851 | $0 | $14,659 | Yes (X) | |||
| TROY SMITH | ||||||||
| VP OF IT/NETWORK ADMINISTRATOR | 40.00 | $107,002 | $0 | $15,398 | Yes (X) | |||
| JACQUELINE HELMAN | ||||||||
| MORTGAGE LOAN OFFICER | 40.00 | $101,337 | $0 | $12,897 | Yes (X) | |||
| REG GIBBS | ||||||||
| BOARD CHAIRMAN | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| WES OJA | ||||||||
| VICE CHAIRMAN | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| CHUCK SOMMERS | ||||||||
| TREASURER | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| ANN ADAIR | ||||||||
| SECRETARY | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| BEA ANN MELICHAR | ||||||||
| DIRECTOR | 1.00 | $0 | $0 | $0 | Yes (X) | |||
| JORDAN FRICKLE | ||||||||
| DIRECTOR | 1.00 | $0 | $0 | $0 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,186,316 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $159,023 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 8 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| FISERV | |||||
| 255 FISERVE DRIVE | BROOKFIELD | WI | 53045 | PROCESSING SERVICES | $1,783,792 |
| A D CREATIVE GROUP | |||||
| 105 N BROADWAY | BILLINGS | MT | 59101 | ADVERTISING | $407,621 |
| MAILING TECHNICAL SERVICES | |||||
| 850 S 27TH ST | BILLINGS | MT | 59101 | MAILING SERVICES | $210,902 |
| FIRST CALL COMPUTER SOLUTIONS INC | |||||
| 500 N HIGGINS AVE STE 201 | MISSOULA | MT | 59802 | IT SERVICES | $134,546 |
| ALLIE LAW FIRM | |||||
| PO BOX 20417 | BILLINGS | MT | 59104 | LEGAL SERVICES | $112,552 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 5 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| LOAN INTEREST | 522100 | $13,487,777 | $13,487,777 | |
| LOAN, SHARE AND OTHER FEES | 522100 | $5,288,323 | $5,258,371 | $29,952 |
| MEMBER CREDIT LIFE AND CREDIT DIS | 522100 | $690,906 | $690,906 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $19,467,006 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,199,001 | TotalRevenueColumnAmt |
| Exclusion | $1,199,001 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $417,664 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $617,712 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | -$200,048 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$200,048 | TotalRevenueColumnAmt |
| Exclusion | -$200,048 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $18,000 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $13,060 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $4,940 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $4,940 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $4,940 | RelatedOrExemptFuncIncomeAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| OTHER MEMBER INSURANCE INCOME | 522100 | $597,739 | $545,939 | $51,800 |
| PARTNER LOAN ADMINISTRATION | 522100 | $8,882 | $8,882 | |
| REFUNDS | 522100 | $539 | $539 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $607,160 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $21,078,059 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $19,997,354 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $81,752 | UnrelatedBusinessRevenueAmt |
| Exclusion | $998,953 | ExclusionAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,079,096 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $711,872 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,443,616 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $159,839 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $692,792 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $481,498 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $19,298 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $71,279 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $203,987 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $596,805 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,269,335 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $109,320 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $514,437 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,584 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $76,560 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $16,348 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $673,599 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $109,241 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| UNRELATED BUSINESS INCO | $5,304 |
| PROCESSING CHARGES AND | $2,570,787 |
| PROVISION FOR LOAN AND | $924,900 |
| LOAN SERVICING | $771,003 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $356,315 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $16,871,815 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,266,486 | BOYAmt |
| EOY | $16,660,057 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $130,541,856 | BOYAmt |
| EOY | $47,378,165 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $556,631 | BOYAmt |
| EOY | $697,542 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,000,866 | BOYAmt |
| EOY | $1,019,466 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $225,126,924 | BOYAmt |
| EOY | $302,383,902 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $533,169 | BOYAmt |
| EOY | $615,976 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $20,107,746 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $9,318,909 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,520,922 | BOYAmt |
| EOY | $10,788,837 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,279,905 | BOYAmt |
| EOY | $34,766,102 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,463,218 | BOYAmt |
| EOY | $5,917,287 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,135,901 | BOYAmt |
| EOY | $4,737,250 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $409,425,878 | BOYAmt |
| EOY | $424,964,584 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,701,449 | BOYAmt |
| EOY | $3,852,389 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $123,701 | BOYAmt |
| EOY | $123,849 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $314,397 | BOYAmt |
| EOY | $266,800 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $3,000,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $363,344,702 | BOYAmt |
| EOY | $369,573,673 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $365,484,249 | BOYAmt |
| EOY | $376,816,711 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $43,941,629 | BOYAmt |
| EOY | $48,147,873 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $43,941,629 | BOYAmt |
| EOY | $48,147,873 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $409,425,878 | BOYAmt |
| EOY | $424,964,584 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $4,206,244 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (1) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,023,874 | OtherCostOrOtherBasisAmt |
| Book Value | $3,023,874 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $10,921,030 | OtherCostOrOtherBasisAmt |
| Depreciation | $5,273,996 | DepreciationAmt |
| Book Value | $5,647,034 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $617,919 | OtherCostOrOtherBasisAmt |
| Depreciation | $304,430 | DepreciationAmt |
| Book Value | $313,489 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $5,013,016 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,413,102 | DepreciationAmt |
| Book Value | $1,599,914 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $531,907 | OtherCostOrOtherBasisAmt |
| Depreciation | $327,381 | DepreciationAmt |
| Book Value | $204,526 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $10,788,837 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (4 entries)
| DescDesc | AmtAmt |
|---|---|
| MEMBERS' SHARE, SAVINGS, AND OTHER ACCOUNTS | $369,089,070 |
| ATM CLEARING | $232,889 |
| DIVIDENDS PAYABLE | $194 |
| LEASE LIABILITIES | $251,520 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $369,573,673 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $21,684,090 | TotalRevEtcAuditedFinclStmtAmt |
| Other Revenue | $617,712 | OtherRevenueAmt |
| Revenue Not Reported | $617,712 | RevenueNotReportedAmt |
| Revenue Subtotal | $21,066,378 | RevenueSubtotalAmt |
| Other Revenues Not Included | $11,681 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $11,681 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $21,078,059 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $17,477,845 | TotExpnsEtcAuditedFinclStmtAmt |
| Prior Year Adjustments | -$1 | PriorYearAdjustmentsAmt |
| Other Expenses Included | $617,712 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $617,711 | ExpensesNotReportedAmt |
| Expenses Subtotal | $16,860,134 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $11,681 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $11,681 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $16,871,815 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (6 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | VALLEY CREDIT UNION HOLDS MORTGAGE ESCROWS AND REPORTS ON PART X. THESE MORTGAGE ESCROWS ARE FOR FIRST MORTGAGE AND MOBILE HOME LOANS IN WHICH VALLEY IS IN THE FIRST POSITION. FUNDS IN THESE ESCROWS ARE INTENDED FOR SHORT-TERM PAYABLES SUCH AS PROPERTY TAXES AND INSURANCE. VALLEY CREDIT UNION BELIEVES PROVIDING THESE ESCROWS HELPS ITS MEMBERS EFFECTIVELY BUDGET FOR AND MANAGE HOME OWNERSHIP. |
| PART X, LINE 2: | VALLEY CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES. HOWEVER, AS A STATE-CHARTERED CREDIT UNION, A FILING REQUIREMENT EXISTS FOR AN ANNUAL FORM 990 FOR EXEMPT ENTITIES. IN ADDITION, FORM 990-T IS REQUIRED TO REPORT UNRELATED BUSINESS INCOME SUCH AS NON-MEMBER ATM FEES AND SALES OF CERTAIN WARRANTIES. INCOME FROM THESE ACTIVITIES DOES GENERATE A MINIMAL TAX LIABILITY. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | RENTAL EXPENSES 617,712. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | REFUNDS 539. GROSS RECEIPTS ADJUSTMENT FROM PARTNERSHIP INVESTMENT 6,203. GAIN ON FIXED ASSET SALE 4,939. |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | RENTAL EXPENSES 617,712. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | REFUNDS 539. EXPENSES FROM PARTNERSHIP INVESTMENT 6,203. GAIN ON FIXED ASSET SALE 4,939. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (3 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| CASEY KLEIN | ||||||||||||||
| CHIEF EXECUTIVE OFFICER | $263,747 | $0 | $40,000 | $0 | $300 | $0 | $12,200 | $0 | $26,306 | $0 | $342,553 | $0 | $0 | $0 |
| SCOTT KANNING | ||||||||||||||
| CHIEF FINANCIAL OFFICER | $139,948 | $0 | $500 | $0 | $646 | $0 | $7,156 | $0 | $10,560 | $0 | $158,810 | $0 | $0 | $0 |
| ERIC WILSON | ||||||||||||||
| CHIEF LENDING OFFICER | $160,343 | $0 | $5,450 | $0 | $23,868 | $0 | $9,631 | $0 | $11,219 | $0 | $210,511 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 3 | FormAndLineReferenceDesc |
| Explanation | 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. | ExplanationTxt |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | CASEY KLEIN | PersonNm |
| Relationship With Org | EXECUTIVE DIRECTOR | RelationshipWithOrgTxt |
| Loan Purpose | SPLIT DOLLAR LIFE INSURANCE | LoanPurposeTxt |
| Loan From Organization | Yes (X) | LoanFromOrganizationInd |
| Original Principal | $1,000,000 | OriginalPrincipalAmt |
| Balance Due | $1,019,466 | BalanceDueAmt |
| Default | 0 | DefaultInd |
| Board Or Committee Approval | Yes (1) | BoardOrCommitteeApprovalInd |
| Written Agreement | Yes (1) | WrittenAgreementInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $1,019,466 | TotalBalanceDueAmt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 4 | THE BOARD OF DIRECTORS APPROVED AN UPDATE TO VALLEY FINANCIAL CREDIT UNION'S BYLAWS ON DECEMBER 22, 2022. SIGNIFICANT CHANGES INCLUDE: 1) A CHANGE TO MEMBERSHIP RIGHTS: MEMBERS MUST NOW FORMALLY CEASE THEIR MEMBERSHIP. FORMERLY, MEMBERS WERE PRESUMED TO HAVE WITHDRAWN THEIR MEMBERSHIP AND LOST ALL RIGHTS THEREIN ON CLOSURE OF ALL ACCOUNTS. 2) REPLACEMENT OF THE CREDIT COMMITTEE WITH A CREDIT MANAGER POSITION. 3) A CHANGE IN THE NUMBER OF BOARD MEMBERS FROM 5 TO 7. 4) BOARD DUTIES WERE CLARIFIED AND RESTATED. SPECIFICALLY, DUTIES PREVIOUSLY ASSIGNED TO THE CFO WERE ASSIGNED AS DUTIES OF THE TREASURER. THE BYLAWS NOW SPECIFY THAT THE BOARD MAY DESIGNATE ANY OR ALL DUTIES OF THE TREASURER TO THE MANAGEMENT OFFICIAL AND ASSISTANT MANAGEMENT OFFICIAL(S), POSITIONS WHICH WERE NOT LISTED IN THE PRIOR BYLAWS. 5) BOARD POWERS REGARDING EMPLOYEES WERE ENUMERATED AS FOLLOWS "THE BOARD EMPLOYS, FIXES THE COMPENSATION, AND PRESCRIBES THE DUTIES OF EMPLOYEES AS NECESSARY, AND HAS THE POWER TO REMOVE EMPLOYEES, UNLESS IT HAS DELEGATED THESE POWERS TO THE TREASURER OR MANAGEMENT OFFICIAL. NEITHER THE BOARD, THE TREASURER, NOR THE MANAGEMENT OFFICIAL HAS THE POWER OR DUTY TO EMPLOY, PRESCRIBE THE DUTIES OF, OR REMOVE NECESSARY CLERICAL AND AUDITING ASSISTANCE EMPLOYED OR USED BY THE SUPERVISORY COMMITTEE AND, IF THERE IS A CREDIT COMMITTEE, THE POWER OR DUTY TO EMPLOY, PRESCRIBE THE DUTIES OF, OR REMOVE ANY LOAN OFFICER APPOINTED BY THE CREDIT COMMITTEE." ALTHOUGH THESE ARE BELIEVED TO BE THE MOST SIGNIFICANT CHANGES, VALLEY FINANCIAL CREDIT UNION WOULD BE PLEASED TO PROVIDE A COPY OF THE UPDATED BYLAWS UPON REQUEST. |
| FORM 990, PART VI, SECTION A, LINE 6 | VALLEY FINANCIAL CREDIT UNION MAY AND DOES HAVE MEMBERS IN MONTANA AND WYOMING. VALLEY CREDIT UNION'S FIELD OF MEMBERSHIP INCLUDES PERSONS WHO LIVE, WORK, WORSHIP OR ATTEND SCHOOL IN AND BUSINESSES AND OTHER LEGAL ENTITIES LOCATED IN 30 COUNTIES IN MT AND WY. ADDITIONALLY, MEMBERSHIP IS AVAILABLE TO SPOUSES OF PERSONS WHO DIED WHILE WITHIN THE FIELD OF MEMBERSHIP OF THIS CREDIT UNION; PERSONS RETIRED AS PENSIONERS OR ANNUITANTS FROM THE ABOVE EMPLOYMENT; MEMBERS OF THEIR IMMEDIATE FAMILIES; AND ORGANIZATIONS OF SUCH PERSONS. RELATIVES OF MEMBERS ARE ELIGIBLE REGARDLESS OF WHERE THEY LIVE AND WORK. |
| FORM 990, PART VI, SECTION A, LINE 7A | EACH MEMBER IS ENTITLED TO ONE VOTE AT ANNUAL MEETINGS WHERE THE BOARD OF DIRECTORS IS ELECTED. |
| FORM 990, PART VI, SECTION A, LINE 7B | CERTAIN SIGNIFICANT DECISIONS ARE SUBJECT TO MEMBER APPROVAL. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE 990 WILL BE REVIEWED BY EXECUTIVE MANAGEMENT PRIOR TO FILING. IT WILL BE SHOWN TO THE BOARD AT THE FIRST AVAILABLE MEETING. |
| FORM 990, PART VI, SECTION B, LINE 12C | EMPLOYEE SHARE AND LOAN ACCOUNTS ARE MONITORED BY COMPLIANCE PERSONNEL. ALL EMPLOYEES ARE REQUIRED TO CONFIRM COMPLIANCE WITH POLICIES ANNUALLY. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE BOARD OF DIRECTORS HAS CONTRACTED WITH BALANCEDCOMP TO REVIEW AND RECOMMEND THE CEO COMPENSATION PACKAGE. VALLEY HAS ALSO CONTRACTED WITH BALANCEDCOMP TO REVIEW AND RECOMMEND COMPENSATION PACKAGES FOR MANAGEMENT AND ALL POSITIONS. |
| FORM 990, PART VI, SECTION C, LINE 19 | MONTHLY FINANCIAL STATEMENTS ARE POSTED IN ALL BRANCH LOBBIES. QUARTERLY CALL REPORTS ARE AVAILABLE AT NCUA.GOV. ANNUAL FINANCIAL STATEMENTS ARE DISTRIBUTED AT THE ANNUAL MEETING. ALL OTHER DOCUMENTS REQUIRED TO BE AVAILABLE TO THE PUBLIC ARE AVAILABLE ON REQUEST. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | VALLEY CUSO LLC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 207 N BROADWAY SUITE 415 | AddressLine1Txt |
| City | BILLINGS | CityNm |
| State Abbreviation | MT | StateAbbreviationCd |
| ZIP | 59101 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 462095841 | EIN |
| Primary Activities | INACTIVE | PrimaryActivitiesTxt |
| Legal Domicile State | MT | LegalDomicileStateCd |
| Total Income | $0 | TotalIncomeAmt |
| End Of Year Assets | $3,740 | EndOfYearAssetsAmt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | VALLEY FINANCIAL CREDIT UNION | BusinessNameLine1Txt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE R PART I(B) | FormAndLineReferenceDesc |
| Explanation | VALLEY CUSO, LLC NO LONGER ACTIVELY PARTICIPATES IN ANY LINE OF BUSINESS. ITS ONLY ACTIVITY IN 2022 WAS PAYMENT OF AN ANNUAL LLC FILING FEE TO THE MONTANA SECRETARY OF STATE. | ExplanationTxt |