VALLEY FINANCIAL CREDIT UNION: Form 990, tax year 2020
View the entire original 990 at ProPublica ↗
- Organization
- VALLEY FINANCIAL CREDIT UNION (EIN 81-0247124)
- Tax period
- 2020-01-01 to 2020-12-31
- Filed
- 2021-11-15
- IRS object ID
- 202113199349327231
- Schema version
- 2020v4.1
- 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 | 2021-11-15T17:56:31-06:00 | ReturnTs |
| Tax Period End | 2020-12-31 | 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 | 2020-01-01 | 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 | 2021-11-12 | 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 |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | LANA KADOSHNIKOV CPA | PreparerPersonNm |
| PTIN | P00441678 | PTIN |
| Phone | 4067612820 | PhoneNum |
| Preparation | 2021-11-12 | 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 | 2020 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | 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 | DARLA CARD | 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 | $19,217,930 | 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 | 117 | TotalEmployeeCnt |
| Total Volunteers | 11 | TotalVolunteersCnt |
| Total Gross UBI | $35,469 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $2,385 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $17,108,851 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $17,465,847 | CYProgramServiceRevenueAmt |
| PY Investment Income | $1,369,828 | PYInvestmentIncomeAmt |
| CY Investment Income | $870,960 | CYInvestmentIncomeAmt |
| PY Other Revenue | $549,480 | PYOtherRevenueAmt |
| CY Other Revenue | $352,682 | CYOtherRevenueAmt |
| PY Total Revenue | $19,028,159 | PYTotalRevenueAmt |
| CY Total Revenue | $18,689,489 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $1,550,628 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $1,347,990 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $5,901,366 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $6,224,619 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $6,663,943 | PYOtherExpensesAmt |
| CY Other Expenses | $7,425,334 | CYOtherExpensesAmt |
| PY Total Expenses | $14,115,937 | PYTotalExpensesAmt |
| CY Total Expenses | $14,997,943 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $4,912,222 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $3,691,546 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $297,066,702 | TotalAssetsBOYAmt |
| Total Assets EOY | $344,625,014 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $260,885,066 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $304,751,832 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $36,181,636 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $39,873,182 | 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 | Yes (1) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | 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 | 0 | 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 | 46 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 117 | 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 | 0 | 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 (11 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd |
|---|---|---|---|---|---|---|---|
| DARLA CARD | |||||||
| CHIEF EXECUTIVE OFFICER | 40.00 | Yes (X) | $241,954 | $0 | $32,113 | ||
| SCOTT KANNING | |||||||
| CHIEF FINANCIAL OFFICER | 40.00 | Yes (X) | $124,894 | $0 | $16,580 | ||
| CASEY KLEIN | |||||||
| SENIOR VICE PRESIDENT | 40.00 | Yes (X) | $94,612 | $0 | $35,603 | ||
| CINDY ROESLER | |||||||
| CHIEF RISK OFFICER | 40.00 | $114,996 | $0 | $23,149 | Yes (X) | ||
| KINDRA MCMULLIN | |||||||
| CHIEF OPERATIONS OFFICER | 40.00 | $114,795 | $0 | $18,470 | 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) | |
| KENDRA MORAN | |||||||
| SECRETARY/TREASURER (RESIGNED) | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| BEA ANN MELICHAR | |||||||
| SECRETARY/TREASURER | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| CHUCK SOMMERS | |||||||
| DIRECTOR | 1.00 | $0 | $0 | $0 | Yes (X) | ||
| ANN ADAIR | |||||||
| DIRECTOR | 1.00 | $0 | $0 | $0 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $691,251 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $125,915 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 4 | 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 | $1,520,743 |
| TW CLARK CONSTRUCTION LLC | |||||
| 1117 N EVERGREEN | SPOKANE | WA | 99216 | CONSTRUCTION | $473,285 |
| A D CREATIVE GROUP | |||||
| 105 N BROADWAY | BILLINGS | MT | 59101 | ADVERTISING | $340,124 |
| CUSHING TERRELL | |||||
| 13 N 23RD ST | BILLINGS | MT | 59101 | ARCHITECTURE | $247,675 |
| MAILING TECHNICAL SERVICES | |||||
| 850 S 27TH ST | BILLINGS | MT | 59101 | MAILING SERVICES | $160,399 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 6 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| LOAN INTEREST | 522100 | $12,159,239 | $12,159,239 | |
| LOAN, SHARE AND OTHER FEES | 522100 | $4,664,391 | $4,634,022 | $30,369 |
| MEMBER CREDIT LIFE AND CREDIT DIS | 522100 | $642,217 | $642,217 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $17,465,847 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $870,960 | TotalRevenueColumnAmt |
| Exclusion | $870,960 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $386,053 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $528,441 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | -$142,388 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$142,388 | TotalRevenueColumnAmt |
| Exclusion | -$142,388 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| OTHER MEMBER INSURANCE INCOME | 522100 | $489,063 | $483,963 | $5,100 |
| PARTNER LOAN ADMINISTRATION | 522100 | $6,007 | $6,007 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $495,070 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $18,689,489 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $17,925,448 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $35,469 | UnrelatedBusinessRevenueAmt |
| Exclusion | $728,572 | ExclusionAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,347,990 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $545,757 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,634,854 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $138,531 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $527,204 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $378,273 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $109,934 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $31,962 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $115,506 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $436,046 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,109,110 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $423,374 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $527 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $61,059 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $619,839 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $53,520 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| PROCESSING CHARGES AND | $2,027,481 |
| PROVISION FOR LOAN AND | $1,655,090 |
| LOAN SERVICING | $602,949 |
| ASSOCIATION DUES | $80,085 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $98,852 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,997,943 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,750,573 | BOYAmt |
| EOY | $18,654,761 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $26,858,787 | BOYAmt |
| EOY | $57,473,398 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,512,120 | BOYAmt |
| EOY | $1,473,076 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $219,324,331 | BOYAmt |
| EOY | $219,258,030 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $483,741 | BOYAmt |
| EOY | $365,641 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $16,711,875 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $7,804,808 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,848,570 | BOYAmt |
| EOY | $8,907,067 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $33,055,479 | BOYAmt |
| EOY | $34,782,254 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,233,101 | BOYAmt |
| EOY | $3,710,787 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $297,066,702 | BOYAmt |
| EOY | $344,625,014 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,912,547 | BOYAmt |
| EOY | $1,331,546 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,098 | BOYAmt |
| EOY | $18,326 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $284,719 | BOYAmt |
| EOY | $316,659 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $258,663,702 | BOYAmt |
| EOY | $303,085,301 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $260,885,066 | BOYAmt |
| EOY | $304,751,832 | 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 | $36,181,636 | BOYAmt |
| EOY | $39,873,182 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $36,181,636 | BOYAmt |
| EOY | $39,873,182 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $297,066,702 | BOYAmt |
| EOY | $344,625,014 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $3,691,546 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | 0 | FSAuditedInd |
| 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 | $2,099,874 | OtherCostOrOtherBasisAmt |
| Book Value | $2,099,874 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $9,348,142 | OtherCostOrOtherBasisAmt |
| Depreciation | $4,441,058 | DepreciationAmt |
| Book Value | $4,907,084 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $563,935 | OtherCostOrOtherBasisAmt |
| Depreciation | $206,532 | DepreciationAmt |
| Book Value | $357,403 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,337,117 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,882,277 | DepreciationAmt |
| Book Value | $1,454,840 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $362,807 | OtherCostOrOtherBasisAmt |
| Depreciation | $274,941 | DepreciationAmt |
| Book Value | $87,866 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $8,907,067 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp (9 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| BANK CERTIFICATES OF DEPOSIT | $27,279,000 | C |
| CREDIT UNION CERTIFICATES OF DEPOSIT | $5,970,000 | C |
| CORPORATE CU CERTIFICATES OF DEPOSIT | $200,000 | C |
| HTM SECURITIES | $250,000 | C |
| FHLB MEMBERSHIP STOCK | $356,500 | C |
| CLF MEMBERSHIP STOCK | $698,273 | C |
| OTHER INVESTMENTS | $76 | C |
| CUSO INVESTMENT ACCOUNT | $3,780 | C |
| PACTOLA CUSO MEMBERSHIP | $24,625 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $34,782,254 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (3 entries)
| DescDesc | AmtAmt |
|---|---|
| MEMBERS' SHARE, SAVINGS, AND OTHER ACCOUNTS | $302,865,874 |
| ATM CLEARING | $219,012 |
| DIVIDENDS PAYABLE | $415 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $303,085,301 | TotalLiabilityAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART IV, LINE 2B: | FormAndLineReferenceDesc |
| Explanation | 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. | ExplanationTxt |
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
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DARLA CARD | PersonNm |
| Title | CHIEF EXECUTIVE OFFICER | TitleTxt |
| Base Compensation Filing Org | $212,254 | BaseCompensationFilingOrgAmt |
| Compensation Based On Rltd Orgs | $0 | CompensationBasedOnRltdOrgsAmt |
| Bonus Filing Organization | $29,700 | BonusFilingOrganizationAmount |
| Bonus Related Organizations | $0 | BonusRelatedOrganizationsAmt |
| Other Compensation Filing Org | $0 | OtherCompensationFilingOrgAmt |
| Other Compensation Rltd Orgs | $0 | OtherCompensationRltdOrgsAmt |
| Deferred Compensation Flng Org | $10,517 | DeferredCompensationFlngOrgAmt |
| Deferred Comp Rltd Orgs | $0 | DeferredCompRltdOrgsAmt |
| Nontaxable Benefits Filing Org | $21,596 | NontaxableBenefitsFilingOrgAmt |
| Nontaxable Benefits Rltd Orgs | $0 | NontaxableBenefitsRltdOrgsAmt |
| Total Compensation Filing Org | $274,067 | TotalCompensationFilingOrgAmt |
| Total Compensation Rltd Orgs | $0 | TotalCompensationRltdOrgsAmt |
| Comp Report Prior990 Filing Org | $0 | CompReportPrior990FilingOrgAmt |
| Comp Report Prior990 Rltd Orgs | $0 | CompReportPrior990RltdOrgsAmt |
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 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. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (7 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | VALLEY FINANCIAL CREDIT UNION HAS 32,822 CREDIT UNION MEMBERS AS OF DECEMBER 31, 2020. 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 BIG HORN, CARBON, GALLATIN, GOLDEN VALLEY, MUSSELSHELL, PARK, STILLWATER, SWEET GRASS, TREASURE OR YELLOWSTONE COUNTIES, MONTANA OR PARK COUNTY WYOMING. 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. |
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 | $3,780 | 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 2020 WAS PAYMENT OF AN ANNUAL LLC FILING FEE TO THE MONTANA SECRETARY OF STATE. | ExplanationTxt |