VIRGINIA FEDERAL CREDIT UNION: Form 990, tax year 2010
View the entire original 990 at ProPublica ↗
- Organization
- VIRGINIA FEDERAL CREDIT UNION (EIN 54-0578719)
- Tax period
- 2010-01-01 to 2010-12-31
- Filed
- 2011-11-09
- IRS object ID
- 201143139349300729
- Schema version
- 2010v3.4
- 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) |
|---|---|---|
| Timestamp | 2011-11-09T16:19:43-06:00 | Timestamp |
| Tax Period End Date | 2010-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | KEITERSTEPHENSHURSTGARY & SHREAVESPC | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 32066 | AddressLine1 |
| City | RICHMOND | City |
| State | VA | State |
| ZIP Code | 232942066 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2010-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 540578719 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | VIRGINIA CREDIT UNION INC | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | VIRG | NameControl |
| Phone | 8043236000 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 90010 | AddressLine1 |
| City | RICHMOND | City |
| State | VA | State |
| ZIP Code | 23225 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | ROBERT F WARREN JR | Name |
| Title | SVP/CFO | Title |
| Phone | 8043236000 | Phone |
| Date Signed | 2011-11-08 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 8047470000 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2010 | TaxYear |
| Build TS | 2016-03-07 17:11:31Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | JANE G WATKINS | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 90010 | AddressLine1 |
| City | RICHMOND | City |
| State | VA | State |
| ZIP Code | 23225 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 199739994 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | WWW.VACU.ORG | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1928 | YearFormation |
| State Legal Domicile | VA | StateLegalDomicile |
| Activity Or Mission Description | STATE CHARTERED CREDIT UNION - SEE SCHEDULE 0DEPOSITS ARE COLLECTED FROM MEMBERS, LOANS ARE MADE TO MEMBERS, AND OTHER FINANCIAL SERVICES ARE PROVIDED IN ORDER TO PROMOTE THRIFT AMONGST MEMBERS AND HELP THEM GET AHEAD FINANCIALLY. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 11 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 11 | NbrIndependentVotingMembers |
| Total Nbr Employees | 588 | TotalNbrEmployees |
| Total Nbr Volunteers | 28 | TotalNbrVolunteers |
| Total Gross UBI | 156761 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | -244811 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 0 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 112293665 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 112215916 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 16406667 | InvestmentIncomePriorYear |
| Investment Income Current Year | 15684559 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 10007751 | OtherRevenuePriorYear |
| Other Revenue Current Year | 0 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 138708083 | TotalRevenuePriorYear |
| Total Revenue Current Year | 127900475 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 0 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 32666045 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 32969916 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 104441489 | OtherExpensePriorYear |
| Other Expenses Current Year | 79723817 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 137107534 | TotalExpensesPriorYear |
| Total Expenses Current Year | 112693733 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 1600549 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 15206742 | RevenuesLessExpensesCY |
| Total Assets BOY | 1941835457 | TotalAssetsBOY |
| Total Assets EOY | 2094078800 | TotalAssetsEOY |
| Total Liabilities BOY | 1792519679 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 1928986391 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 149315778 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 165092409 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | TO BE OUR MEMBERS' TRUSTED PROVIDER OF FINANCIAL SERVICES, HELPING THEM ACHIEVE GREATER SUCCESS. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Description | 2010 WAS A YEAR OF MILESTONES FOR VACU. THE NUMBER OF MEMBERS CLIMBED ABOVE 200,000 AND TOTAL ASSETS EXCEEDED $2 BILLION. DESPITE A STILL-WEAK ECONOMY, VACU MOVED AHEAD WITH ENHANCEMENTS IN VALUE, CONVENIENCE, SERVICE AND TECHNOLOGY. IMPROVEMENTS INCLUDE A NEW BRANCH IN RICHMOND'S EAST END, EIGHT ENHANCED ENVELOPE-FREE ATMS, THE ADDITION OF FREE ATMS IN ALL WAWA STORES IN VIRGINIA, AND A NEW CHECKING ACCOUNT FOR YOUNG PEOPLE. VACU PROVIDED $609 MILLION IN LOANS TO MEMBERS AND RETURNED MORE THAN $26 MILLION IN DIVIDENDS. MEMBERS RECEIVE TRUSTWORTHY ADVICE, HELPFUL SERVICE, AND BENEFICIAL EDUCATION, SUCH AS SEMINARS FOR FIRST-TIME HOMEBUYERS. VACU CONTINUED A COMMITMENT TO FINANCIAL EDUCATION FOR THE COMMUNITY AS WELL. MORE THAN 9,000 PEOPLE PARTICIPATED IN VACU'S PROGRAMS IN SCHOOLS, PUBLIC LIBRARIES AND CREDIT UNION FACILITIES. | Description |
| Described In501 C3 | 0 | DescribedIn501C3 |
| Schedule B Required | 0 | ScheduleBRequired |
| Political Activities | 1 | PoliticalActivities |
| Subject To Proxy Tax | 0 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 1 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 0 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 1 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 0 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 1 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 1 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 1 | DisregardedEntity |
| Related Entity | 0 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 120631 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 588 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 1 | UnrelatedBusinessIncome |
| Form990-T Filed | 1 | Form990-TFiled |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributions |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 11 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 11 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 1 | MembersOrStockholders |
| Election Of Board Members | 1 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 1 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 0 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 0 | CompensationProcessOther |
| Investment In Joint Venture | 1 | InvestmentInJointVenture |
| Written Policy Or Procedure | 0 | WrittenPolicyOrProcedure |
| Other Website | X | OtherWebsite |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE ORGANIZATION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 8043236000 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 90010 | AddressLine1 |
| City | RICHMOND | City |
| State | VA | State |
| ZIP Code | 23225 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (19 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | OfficerOfficer | Key EmployeeKeyEmployee | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|---|
| BELINDA W BLANCHARD | ||||||||
| DIRECTOR | 5.00 | X | 360 | 0 | 0 | |||
| RAY C GOODWIN | ||||||||
| DIRECTOR | 5.00 | X | 246 | 0 | 0 | |||
| NEILA L GUNTER | ||||||||
| DIRECTOR | 5.00 | X | 0 | 0 | 0 | |||
| ROBERT P MORRIS | ||||||||
| DIRECTOR | 5.00 | X | 0 | 0 | 0 | |||
| HERBERT A PARR | ||||||||
| DIRECTOR | 5.00 | X | 845 | 0 | 0 | |||
| ROSCOE C ROBERTS | ||||||||
| DIRECTOR | 5.00 | X | 246 | 0 | 0 | |||
| RAYMOND D VAUGHAN | ||||||||
| DIRECTOR | 5.00 | X | 0 | 0 | 0 | |||
| MARGARET E WHITE | ||||||||
| DIRECTOR | 5.00 | X | 0 | 0 | 0 | |||
| DONALD E WILLIAMS | ||||||||
| DIRECTOR | 5.00 | X | 287 | 0 | 0 | |||
| DEMERST B SMIT | ||||||||
| DIRECTOR | 5.00 | X | 964 | 0 | 0 | |||
| JANET W WIGGLESWORTH | ||||||||
| DIRECTOR | 5.00 | X | 0 | 0 | 0 | |||
| JANE G WATKINS | ||||||||
| PRESIDENT/CEO | 55.00 | 378282 | 0 | 270401 | X | |||
| ROBERT F WARREN JR | ||||||||
| SVP/CFO | 55.00 | 196429 | 0 | 42585 | X | |||
| CHRISTOPHER SHOCKLEY | ||||||||
| EVP/MS | 55.00 | 189128 | 0 | 27907 | X | |||
| CHRISTOPHER N SANEDA | ||||||||
| SVP/CIO | 55.00 | 167538 | 0 | 24723 | X | |||
| WILLIAM JONES | ||||||||
| SVP/OPERATIONS | 55.00 | 163596 | 0 | 37323 | X | |||
| JEAN HOLMAN | ||||||||
| SVP/MARKETING | 55.00 | 165102 | 0 | 96725 | X | |||
| WILLIAM DODL | ||||||||
| SVP/HR | 55.00 | 141519 | 0 | 46535 | X | |||
| MICHAEL BRUNSON | ||||||||
| VP/INTERNAL AUDIT | 50.00 | 143907 | 0 | 15064 | X | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 1548449 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 561263 | TotalOtherCompensation |
| Number Individuals GT100 K | 19 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| ONLINE RESOURCES | |||||
| PO BOX 418410 | BOSTON | MA | 02241 | INFORMATION TECHNOLOGY | 1552995 |
| GLMG INC GENERAL CONTRACTORS | |||||
| 56 JOSEPH MILLS DR | FREDERICKSBURG | VA | 22404 | BUILDING CONTRACTOR | 1540112 |
| DIEBOLD | |||||
| PO BOX 643543 | PITTSBURGH | PA | 15264 | ATM & SECURITY EQUIPMENT | 1409134 |
| PLANIT TECHNOLOGY | |||||
| 100 LANDMARK SQUARE | VIRGINIA BEACH | VA | 23452 | INFORMATION TECHNOLOGY | 607459 |
| FIDELITY NATIONAL INFORMATION SERVICES | |||||
| PO BOX 18012 | ASHBURN | VA | 20146 | INFORMATION TECHNOLOGY | 560140 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 25 | NumberOfContractorsGT100K |
Program Service Revenue ProgramServiceRevenue (3 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome | Unrelated Business RevenueUnrelatedBusinessRevenue |
|---|---|---|---|---|
| INTEREST ON LOANS | 522291 | 81999241 | 81999241 | |
| FEE INCOME | 522100 | 15184603 | 15184603 | |
| OTHER OPERATING INCOME | 522100 | 15032072 | 14929285 | 102787 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 112215916 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 14738707 | TotalRevenueColumn |
| Unrelated Business Revenue | 53974 | UnrelatedBusinessRevenue |
| Exclusion | $14,684,733 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | 72785371 | Other |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | 71839519 | Other |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | 945852 | Other |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 945852 | TotalRevenueColumn |
| Related Or Exempt Function Income | 945852 | RelatedOrExemptFunctionIncome |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 127900475 | TotalRevenueColumn |
| Related Or Exempt Function Income | 113058981 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 156761 | UnrelatedBusinessRevenue |
| Exclusion | $14,684,733 | ExclusionAmount |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1107680 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 24304026 | Total |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2767645 | Total |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2810364 | Total |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1980201 | Total |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 483798 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 83050 | Total |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 112789 | Total |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1522431 | Total |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4781459 | Total |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2982411 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1887487 | Total |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 203441 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 214760 | Total |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 28163946 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4047220 | Total |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 251649 | Total |
Other Expenses OtherExpenses (5 entries)
| DescriptionDescription | TotalTotal |
|---|---|
| PROVISION FOR LOAN LOSS | 17780746 |
| ATM, DEBIT, HOMEBANKING | 6943059 |
| NCUSIF STABILIZATION EX | 4582891 |
| LOAN SERVICING | 3986856 |
| OTHER MISCELLANEOUS EXP | 1695824 |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 112693733 | Total |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 19874378 | BOY |
| EOY | 20421208 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 43600000 | BOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2038543 | BOY |
| EOY | 902510 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1204199468 | BOY |
| EOY | 1202833359 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2912844 | BOY |
| EOY | 2967722 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 74648764 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 27224262 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 45853144 | BOY |
| EOY | 47424502 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 466950149 | BOY |
| EOY | 726678869 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 123175266 | BOY |
| EOY | 37393556 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 33231665 | BOY |
| EOY | 55457074 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1941835457 | BOY |
| EOY | 2094078800 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 13100872 | BOY |
| EOY | 14040697 | EOY |
Escrow Account Liability EscrowAccountLiability
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1689955 | BOY |
| EOY | 1791619 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 25068498 | BOY |
| EOY | 61457913 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1752660354 | BOY |
| EOY | 1851696162 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1792519679 | BOY |
| EOY | 1928986391 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Do Not Follow SFAS117 | X | DoNotFollowSFAS117 |
Cap Stck Trst Prin Current Funds CapStckTrstPrinCurrentFunds
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Paid In Cap Srpls Land Bldg Eqp Fund PaidInCapSrplsLandBldgEqpFund
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 149315778 | BOY |
| EOY | 165092409 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 149315778 | BOY |
| EOY | 165092409 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1941835457 | BOY |
| EOY | 2094078800 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 15206742 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | 569889 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Consolidated | X | FinancialStatementConsolidated |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Political Expenditures | 100 | PoliticalExpenditures |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtc |
| Included On FS | 1 | IncludedOnFS |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | 12895908 | InvestmentCostOrOtherBasis |
| Book Value | 12895908 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | 34713889 | InvestmentCostOrOtherBasis |
| Depreciation | 7149811 | Depreciation |
| Book Value | 27564078 | BookValue |
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | 1289667 | InvestmentCostOrOtherBasis |
| Depreciation | 910408 | Depreciation |
| Book Value | 379259 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | 25749300 | InvestmentCostOrOtherBasis |
| Depreciation | 19164043 | Depreciation |
| Book Value | 6585257 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 47424502 | TotalOfBookValueLandBuildings |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | MEMBERS' SHARES | Description |
| Amount | $1,851,696,162 | Amount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 1851696162 | TotalOfAmounts |
| Total Revenue | 127900475 | TotalRevenue |
| Total Expenses | 112693733 | TotalExpenses |
| Excess Or Deficit For Year | 15206742 | ExcessOrDeficitForYear |
| Other | $569,889 | OtherAmount |
| Total Adjustments | 569889 | TotalAdjustments |
| Excess Or Deficit Per FS | 15776631 | ExcessOrDeficitPerFS |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (3 entries)
| Return ReferenceReturnReference | ExplanationExplanation | IdentifierIdentifier |
|---|---|---|
| PART IV, LINE 2B: | TRADITIONAL ESCROW ACCOUNTS ON BORROWER MORTGAGES. | |
| NET CHANGE IN UNREALIZED LOSS ON DEFINED BENEFIT PENSION PLAN COSTS | PART XI, LINE 8 - OTHER ADJUSTMENTS: | |
| SCHEDULE D, PART X, QUESTION 2: THE FASB ISSUED NEW GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE CREDIT UNION ADOPTED THIS NEW GUIDANCE FOR THE YEAR ENDED DECEMBER 31, 2009. MANAGEMENT EVALUATED THE CREDIT UNION'S TAX POSITIONS AND CONCLUDED THAT THE CREDIT UNION HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRED ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. THE CREDIT UNION FILES FORMS 990 IN THE U.S. FEDERAL JURISDICTION AND FORMS VA 500 IN THE STATE OF VIRGINIA. WITH FEW EXCEPTIONS, THE CREDIT UNION IS NO LONGER SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR YEARS BEFORE 2010. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | X | TravelForCompanions |
| Written Policy Re T And E Expenses | 1 | WrittenPolicyReTAndEExpenses |
| Substantiation Required | 1 | SubstantiationRequired |
| Compensation Committee | X | CompensationCommittee |
| Independent Consultant | X | IndependentConsultant |
| Written Employment Contract | X | WrittenEmploymentContract |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 1 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
Form990 Schedule J Part II Form990ScheduleJPartII (8 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JANE G WATKINS | |||||||||||||
| 356022 | 0 | 500 | 0 | 21760 | 0 | 260860 | 0 | 18560 | 0 | 657702 | 0 | 0 | 0 |
| ROBERT F WARREN JR | |||||||||||||
| 177911 | 0 | 500 | 0 | 18018 | 0 | 37811 | 0 | 8334 | 0 | 242574 | 0 | 0 | 0 |
| CHRISTOPHER SHOCKLEY | |||||||||||||
| 185969 | 0 | 500 | 0 | 2659 | 0 | 18366 | 0 | 19029 | 0 | 226523 | 0 | 0 | 0 |
| CHRISTOPHER N SANEDA | |||||||||||||
| 166070 | 0 | 500 | 0 | 968 | 0 | 15182 | 0 | 18813 | 0 | 201533 | 0 | 0 | 0 |
| WILLIAM JONES | |||||||||||||
| 161471 | 0 | 500 | 0 | 1625 | 0 | 32549 | 0 | 6575 | 0 | 202720 | 0 | 0 | 0 |
| JEAN HOLMAN | |||||||||||||
| 139104 | 0 | 500 | 0 | 25498 | 0 | 91952 | 0 | 8004 | 0 | 265058 | 0 | 0 | 0 |
| WILLIAM DODL | |||||||||||||
| 138369 | 0 | 500 | 0 | 2650 | 0 | 36994 | 0 | 17347 | 0 | 195860 | 0 | 0 | 0 |
| MICHAEL BRUNSON | |||||||||||||
| 125312 | 0 | 500 | 0 | 18095 | 0 | 10290 | 0 | 6527 | 0 | 160724 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | SUPPLEMENTAL INFORMATION | Identifier |
| Return Reference | PART III | ReturnReference |
| Explanation | VACU POLICY IS TO PAY FOR THE TRAVEL EXPENSES FOR ONE COMPANION FOR BOARD MEMBERS ATTENDING OUT OF TOWN CONFERENCES OR MEETINGS IN ACKNOWLEDGEMENT OF THE NUMBER OF VOLUNTEER HOURS THEY PUT IN SERVING THE CREDIT UNION. IN 2010, 6 DIRECTORS RECEIVED THIS BENEFIT WHICH WAS REPORTED AS TAXABLE COMPENSATION ON THE 1099-MISC. | Explanation |
Schedule L IRS990ScheduleL
Form990 Schedule L Part IV Form990ScheduleLPartIV (5 entries)
| RelationshipRelationship | Amount Of TransactionAmountOfTransaction | Description Of TransactionDescriptionOfTransaction | Sharing Of RevenuesSharingOfRevenues |
|---|---|---|---|
| PSCU FINANCIAL SERVICES | |||
| VACU CEO JANE WATKINS SERVES AS DIRECTOR | 4614807 | CREDIT CARD PROCESSING SERVICES | 0 |
| CREDIT UNION SERVICE COMPANY OF VA LLC | |||
| VACU CEO JANE WATKINS SERVES AS DIRECTOR | 632732 | SHARED BRANCHING | 0 |
| CUSO PARTNERS LLC | |||
| VACU CFO ROBERT WARREN SERVES AS DIRECTOR | 47387 | BROKERAGE SERVICES | 0 |
| CUSO PARTNERS LLC | |||
| VACU CFO ROBERT WARREN SERVES AS DIRECTOR | 32447 | DIVIDEND PAYMENTS | 1 |
| PSCU FINANCIAL SERVICES | |||
| VACU CEO JANE WATKINS SERVES AS DIRECTOR | 380454 | PATRONAGE DIVIDEND | 1 |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (8 entries)
| IdentifierIdentifier | ExplanationExplanation | Return ReferenceReturnReference |
|---|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | ALL MEMBERS ARE CONSIDERED EQUAL AND EACH HAS ONE VOTE. A MEMBER MUST BE 16 YEARS OLD TO VOTE. | |
| FORM 990, PART VI, SECTION A, LINE 7A | MEMBERS ELECT THE BOARD OF DIRECTORS AS THEIR TERMS EXPIRE. MEMBERS MAY ALSO VOTE ON AMENDMENTS TO THE ARTICLES OF INCORPORATION OR DISSOLUTION OF THE CREDIT UNION. | |
| FORM 990, PART VI, SECTION A, LINE 7B | MEMBERS ELECT THE BOARD OF DIRECTORS AS THEIR TERMS EXPIRE. MEMBERS MAY ALSO VOTE ON AMENDMENTS TO THE ARTICLES OF INCORPORATION OR DISSOLUTION OF THE CREDIT UNION. | |
| FORM 990, PART VI, SECTION B, LINE 11 | PRIOR TO FILING WITH THE IRS, THE BOARD OF DIRECTORS IS PROVIDED WITH A COPY OF THE 990 RETURN PREPARED BY AN EXTERNAL CPA FIRM. THE RETURN IS ALSO REVIEWED BY MEMBERS OF MANAGEMENT PRIOR TO FILING. | |
| ALL INDIVIDUALS ARE GIVEN THE STATEMENT OF OUR FRAUD AND STANDARDS OF CONDUCT POLICIES UPON EMPLOYMENT OR AFFILIATION WITH THE VACU OFFICIAL FAMILY. EMPLOYEES AND OFFICIAL FAMILY MEMBERS MUST SIGN THIS STATEMENT AT THIS TIME, AND ANNUALLY THEREAFTER, ACKNOWLEDGING THEIR RECEIPT AND UNDERSTANDING OF THESE POLICIES. BY SIGNING THE FRAUD AND STANDARDS OF CONDUCT POLICY STATEMENT THEY ARE ALSO STATING THAT THEY HAVE NOT COMMITTED ANY CONDUCT IN VIOLATION OF THE VACU FRAUD OR STANDARDS OF CONDUCT POLICIES; NOR ARE THEY AWARE OF OTHERS WHO ARE DOING SO, OR HAVE PREVIOUSLY DONE SO. UNDER THE STANDARDS OF CONDUCT, EMPLOYEES AND OFFICIALS SHALL REFRAIN FROM ANY PRIVATE BUSINESS OR PROFESSIONAL ACTIVITY OR FROM HAVING ANY DIRECT OR INDIRECT FINANCIAL INTEREST THAT WOULD PLACE THEM IN A POSITION WHERE THERE IS CONFLICT BETWEEN THEIR PRIVATE INTEREST AND THE INTEREST OF THE CREDIT UNION. EMPLOYEES AND OFFICIALS SHALL NOT ENGAGE IN ANY PRIVATE BUSINESS OR PROFESSIONAL ACTIVITY OR ENTER INTO ANY FINANCIAL TRANSACTION FOR THEIR PRIVATE GAIN, THE GAIN OF MEMBERS OF THEIR FAMILY, ANOTHER EMPLOYEE, OR ASSOCIATE WHICH INVOLVES THE DIRECT OR INDIRECT USE, OR APPEARANCE OF USE, OF INSIDE INFORMATION. "INSIDE INFORMATION" MEANS INFORMATION OBTAINED THROUGH THE JOB THAT IS NOT PUBLIC KNOWLEDGE. EMPLOYEES AND OFFICIALS SHALL NOT USE THEIR POSITIONS IN ANY WAY TO INDUCE OR COERCE, OR TO GIVE THE APPEARANCE OF INDUCING OR COERCING, ANY EMPLOYEE, PERSON OR GROUP TO PROVIDE ANY FINANCIAL BENEFIT TO THEM OR ANOTHER PERSON OR GROUP WITH WHOM THEY ARE ASSOCIATED. ALL POTENTIAL CONFLICTS OF INTEREST, INCLUDING THOSE CONFLICTS WHICH ARE NOT INTENTIONAL, RESULTING FROM EITHER BUSINESS OR PERSONAL RELATIONSHIPS WITH MEMBERS, VENDORS, BUSINESS ASSOCIATES, OR COMPETITORS OF VACU MUST BE REPORTED BY THE EMPLOYEE OR AGENT OR ATTORNEY INVOLVED TO THE PRESIDENT WITHIN 48 HOURS. ANY POTENTIAL CONFLICT OF INTEREST ON THE PART OF AN OFFICIAL MUST BE REPORTED TO THE CHAIRMAN OF THE BOARD WITHIN 48 HOURS. | FORM 990, PART VI, SECTION B, LINE 12C | |
| PERIODICALLY, THE BOARD OF DIRECTORS ENGAGES AN OUTSIDE CONSULTANT TO CONDUCT AN INDEPENDENT REVIEW OF EXECUTIVE COMPENSATION AND BENEFITS TO ENSURE THE APPROPRIATENESS OF TOTAL COMPENSATION LEVELS. THIS EVALUATION LOOKS AT THE AVERAGE COMPENSATION AND BENEFITS OF EXECUTIVES AT FINANCIAL INSTITUTIONS OF COMPARABLE SIZE, INCLUDING BANKS AND CREDIT UNIONS. THIS PHILOSOPHY RECOGNIZES THAT THE EXTENT TO WHICH WE ACHIEVE AND MAINTAIN THIS GOAL MUST BE BALANCED WITH THE OVERALL FINANCIAL HEALTH OF THE ORGANIZATION. THE CREDIT UNION HAS A COMPENSATION PHILOSOPHY OF PAYING SALARIES AND BENEFITS THAT ARE COMPETITIVE WITH EMPLOYERS IN THE SURROUNDING METROPOLITAN AREAS AND WITH PEERS IN THE CREDIT UNION AND FINANCIAL INDUSTRIES. ANNUALLY, EMPLOYEES RECEIVE PERFORMANCE REVIEWS WHICH DETERMINE MERIT INCREASES. THE PRESIDENT/CEO COMPENSATION IS APPROVED BY THE BOARD EVERY YEAR. | FORM 990, PART VI, SECTION B, LINE 15A | |
| GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT AVAILABLE TO THE PUBLIC. FINANCIAL STATEMENTS ARE AVAILABLE THROUGH THE POSTING OF OUR ANNUAL REPORT ON OUR WEBSITE. AUDITED FINANCIAL STATEMENTS CAN BE VIEWED AT THE HEADQUARTERS. IN ADDITION, THE PUBLIC MAY ACCESS 5300 (CALL REPORT) INFORMATION FROM THE NCUA WEBSITE. | FORM 990, PART VI, SECTION C, LINE 19 | |
| CHANGES IN NET ASSETS OR FUND BALANCES: | NET CHANGE IN UNREALIZED LOSS ON DEFINED BENEFIT PENSION PLAN COSTS 569,889. TOTAL TO FORM 990, PART XI, LINE 5: 569,889. | FORM 990, PART XI, LINE 5: |
Schedule R IRS990ScheduleR
Form990 Schedule R Part I Form990ScheduleRPartI (3 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EINEIN | Primary ActivitiesPrimaryActivities | Legal Domicile StateLegalDomicileState | Total IncomeTotalIncome | EOY AssetsEOYAssets | Direct Controlling Entity NADirectControllingEntityNA | Business Name Line1DirectControllingEntityName/BusinessNameLine1 |
|---|---|---|---|---|---|---|---|---|---|---|
| VIRGINIA CREDIT UNION FINANCIAL SERVICES LLC | ||||||||||
| PO BOX 90010 | RICHMOND | VA | 23225 | 204223173 | FINANCIAL SERVICES | VA | 156761 | 194323 | N/A | |
| VIRGINIA CU INSURANCE SERVICES LLC | ||||||||||
| PO BOX 90010 | RICHMOND | VA | 23225 | 260379385 | INSURANCE AGENCY | VA | 74987 | 90045 | VIRGINIA CREDIT UNION FINANCIAL SERVICES LLC | |
| VIRGINIA CU REALTY LLC | ||||||||||
| PO BOX 90010 | RICHMOND | VA | 23225 | 272826524 | REAL ESTATE AGENCY | VA | 27800 | 34292 | VIRGINIA CREDIT UNION FINANCIAL SERVICES LLC | |