2022-11-25T10:00:58-06:00 2021-12-31 810348775 JUNKERMIERCLARKCAMPANELLASTEVENSPC P O BOX 989 GREAT FALLS MT 59403 990 2021-01-01 810247124 VALLEY FINANCIAL CREDIT UNION VALL 4066555053 PO BOX 20417 BILLINGS MT 59104 SCOTT KANNING CHIEF FINANCIAL OFFICER 4066555053 2022-11-25 1 SCOTT KANNING XXX-XX-XXXX LANA KADOSHNIKOV CPA P00441678 4067612820 2022-11-15 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z VALLEY CREDIT UNION CASEY KLEIN PO BOX 20417 BILLINGS MT 59104 19131954 0 X HTTP://WWW.VALLEYFCU.COM/ X 1949 MT BUILDING RELATIONSHIPS WITH PEOPLE IN OUR COMMUNITIES AND UNITING WITH THEM TO ACHIEVE THEIR DREAMS. 5 5 132 10 65110 22692 0 0 17465847 17541907 870960 562870 352682 466035 18689489 18570812 0 0 1347990 1073062 6224619 6791084 0 0 0 7425334 6638219 14997943 14502365 3691546 4068447 344625014 409425878 304751832 365484249 39873182 43941629 BUILDING RELATIONSHIPS WITH PEOPLE IN OUR COMMUNITIES AND UNITING WITH THEM TO ACHIEVE THEIR DREAMS. 0 0 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. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 57 0 1 132 1 1 1 0 0 0 0 0 0 0 X 5 5 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X THE ORGANIZATION 4066555053 PO BOX 20417 BILLINGS MT 59104 DARLA CARD CHIEF EXECUTIVE OFFICER - RETIRED 40.00 X 152018 0 9433 CASEY KLEIN CHIEF EXECUTIVE OFFICER 40.00 X 183738 0 46590 SCOTT KANNING CHIEF FINANCIAL OFFICER 40.00 X 136210 0 18005 ERIC WILSON CHIEF LENDING OFFICER 40.00 X 173071 0 19148 CINDY ROESLER CHIEF RISK OFFICER 40.00 X 125026 0 19786 KINDRA MCMULLIN CHIEF OPERATIONS OFFICER 40.00 X 113277 0 19286 JESSICA HAYNES HOME LOAN ORIGINATOR 40.00 X 121833 0 499 REG GIBBS BOARD CHAIRMAN 1.00 X X 0 0 0 WES OJA VICE CHAIRMAN 1.00 X X 0 0 0 BEA ANN MELICHAR SECRETARY/TREASURER 1.00 X X 0 0 0 CHUCK SOMMERS DIRECTOR 1.00 X 0 0 0 ANN ADAIR DIRECTOR 1.00 X 0 0 0 1005173 0 132747 7 0 1 0 FISERV 255 FISERVE DRIVE BROOKFIELD WI 53045 PROCESSING SERVICES 1407962 TW CLARK CONSTRUCTION LLC 1117 N EVERGREEN SPOKANE WA 99216 CONSTRUCTION 432324 A D CREATIVE GROUP 105 N BROADWAY BILLINGS MT 59101 ADVERTISING 380427 ONGOING OPERATIONS LLC 18450 SHOWALTER RD STE 113 HAGERSTOWN MD 21742 IT SERVICES 199515 MAILING TECHNICAL SERVICES 850 S 27TH ST BILLINGS MT 59101 MAILING SERVICES 164187 7 LOAN INTEREST 522100 11773885 11773885 LOAN, SHARE AND OTHER FEES 522100 5113107 5078847 34260 MEMBER CREDIT LIFE AND CREDIT DIS 522100 654915 654915 17541907 562870 562870 477028 561142 -84114 -84114 -84114 OTHER MEMBER INSURANCE INCOME 522100 534652 503802 30850 PARTNER LOAN ADMINISTRATION 522100 9416 9416 REFUNDS 522100 6081 6081 550149 18570812 18026946 65110 478756 1073062 738213 4906694 136823 603091 406263 84805 68030 178877 480726 1105285 434992 11258 84277 572820 89806 UNRELATED BUSINESS INCO 539 PROCESSING CHARGES AND 2337956 LOAN SERVICING 696858 PROVISION FOR LOAN AND 319250 172740 14502365 18654761 10266486 57473398 130541856 1473076 556631 1000866 219258030 225126924 365641 533169 19035854 8514932 8907067 10520922 33699000 21279905 1058629 5463218 3735412 4135901 344625014 409425878 1331546 1701449 18326 123701 316659 314397 303085301 363344702 304751832 365484249 X 0 0 0 0 39873182 43941629 39873182 43941629 344625014 409425878 4068447 0 X 0 1 X 1 0 0 1 X 3023874 3023874 10927116 4825508 6101608 570945 254246 316699 3992056 3139235 852821 521863 295943 225920 10520922 MEMBERS' SHARE, SAVINGS, AND OTHER ACCOUNTS 363106100 ATM CLEARING 237684 DIVIDENDS PAYABLE 918 363344702 X 19119236 561142 561142 18558094 12718 12718 18570812 15050789 561142 561142 14489647 12718 12718 14502365 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 561,142. PART XI, LINE 4B - OTHER ADJUSTMENTS: REFUNDS 6,082. GROSS RECEIPTS FROM PARTNERSHIP INVESTMENT 6,636. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 561,142. PART XII, LINE 4B - OTHER ADJUSTMENTS: REFUNDS 6,082. EXPENSES FROM PARTNERSHIP INVESTMENT 6,636. X X X X 1 0 0 DARLA CARD CHIEF EXECUTIVE OFFICER - RETIRED 9446 0 113264 0 29308 0 7640 0 1793 0 161451 0 0 0 CASEY KLEIN CHIEF EXECUTIVE OFFICER 183738 0 0 0 0 0 10210 0 36380 0 230328 0 0 0 SCOTT KANNING CHIEF FINANCIAL OFFICER 127119 0 9091 0 0 0 6883 0 11122 0 154215 0 0 0 ERIC WILSON CHIEF LENDING OFFICER 161521 0 11550 0 0 0 6924 0 12224 0 192219 0 0 0 PART I, LINE 3 VALLEY CREDIT UNION HAS HIRED COMPENSATION CONSULTANT D. HILTON TO ASSIST WITH MAKING FAIR AND APPROPRIATE COMPENSATION DECISIONS. THIS INDEPENDENT CONSULTING FIRM SPECIALIZES IN PROVIDING GUIDANCE TO CREDIT UNIONS. D. HILTON 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, LINE 4A RETIRING CEO DARLA CARD RECEIVED A BONUS ON HER RETIREMENT OF $113,264. CASEY KLEIN EXECUTIVE DIRECTOR SPLIT DOLLAR LIFE INSURANCE X 1000000 1000866 0 1 1 1000866 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 D. HILTON TO REVIEW AND RECOMMEND THE CEO COMPENSATION PACKAGE. VALLEY HAS ALSO CONTRACTED WITH D HILTON 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. VALLEY CUSO LLC 207 N BROADWAY SUITE 415 BILLINGS MT 59101 462095841 INACTIVE MT 3760 VALLEY FINANCIAL CREDIT UNION SCHEDULE R PART I(B) VALLEY CUSO, LLC NO LONGER ACTIVELY PARTICIPATES IN ANY LINE OF BUSINESS. ITS ONLY ACTIVITY IN 2021 WAS PAYMENT OF AN ANNUAL LLC FILING FEE TO THE MONTANA SECRETARY OF STATE.