Valley Strong Credit Union

Organization Overview

Valley Strong Credit Union is located in Bakersfield, CA. The organization was established in 2016. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Valley Strong Credit Union employed 700 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Valley Strong Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.

For the year ending 12/2021, Valley Strong Credit Union generated $131.8m in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 14.9% each year . All expenses for the organization totaled $101.0m during the year ending 12/2021. While expenses have increased by 12.2% per year over the past 2 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Since 2020, Valley Strong Credit Union has awarded 30 individual grants totaling $2,063,709. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

MEMBERSHIP EDUCATION CONFERENCES: WE HAVE EXTENSIVE WORKSHOP/ONLINE SEMINAR PROGRAMS WITH TOPICS WHICH TYPICALLY ARE HELD TWICE A MONTH. TOPICS COVERED ARE AUTO AND HOME BUYING, RETIREMENT AND WEALTH MANAGEMENT, BUSINESS BANKING, CYBER SECURITY AND MEDICARE ASSISTANCE. ADDITIONALLY, WE HOLD FINANCIAL LITERACY CLASSES OFF SITE AT LOCAL SCHOOLS K-12 AS WELL AS AREA COLLEGES TO HELP INTRODUCE OUR YOUNG COMMUNITY MEMBERS WITH FINANCIAL KNOWLEDGE.


ONGOING MARKETING STRATEGIES: WE HAVE FOCUSED OUR MARKETING EFFORTS ON BRANDING IN OUR EXPANSION MARKETS WHICH INCLUDE CHECKING OFFERS, MORTGAGE AND AUTO LOAN OPTIONS, BUSINESS BANKING OPPORTUNITIES, AND RETIREMENT AND WEALTH MANAGEMENT POSSIBILITIES.


COMMUNICATIONS/LEGISLATIVE/REGULATORY/COMPLIANCE: WE KEEP MEMBERS UPDATED, PROVIDING ALL RULES AND REGULATIONS GOVERNING THE CREDIT UNION AS WELL AS COMPLIANCE ASSISTANCE.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Mcdermott & Bull Executive Search
Executive Search & Recruiting Services
$805,451
Dell Marketing Lp
Computer Equipment
$544,366
Alm First Financial Advisors
Financial Advisory Services
$473,511
Connect Financial Software Solutions
Digital Platform Software
$465,507
Carroll & Associates Llp
Consulting/advisory Services
$464,242
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$106,240,457
Investment income $8,246,933
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $14,610,887
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $131,789,936

Grants Awarded

Over the last fiscal year, Valley Strong Credit Union has awarded $1,219,215 in support to 7 organizations.

Grant RecipientAmount

BAKERSFIELD COLLEGE FOUNDATION INC

Org PageRecipient Profile

Bakersfield, CA

PURPOSE: EXPAND OPPORTUNITIES FOR STUDENTS BY FUNDING SCHOLARSHIPS & ENHANCING COLLEGE FACILITIES.

$593,500

CALIFORNIA STATE UNIVERSITY BAKERSFIELD FOUNDATION

Org PageRecipient Profile

Bakersfield, CA

PURPOSE: ASSISTING CSU BAKERSFIELD IN PROVIDING SCHOLARSHIPS & IMPROVING CAMPUS FACILITIES.

$547,605

GREATER BAKERSFIELD CHAMBER OF COMMERCE

Org PageRecipient Profile

Bakersfield, CA

PURPOSE: PROVIDE EDUCATION & NETWORKING TO THE BUSINESS COMMUNITY OF BAKERSFIELD/KERN COUNTY.

$35,000

HOFFMAN HOSPICE OF THE VALLEY INC

Org PageRecipient Profile

Bakersfield, CA

PURPOSE: TO ASSIST IN PROVIDING COMPASSIONATE END-OF-LIFE CARE.

$15,000

VACAVILLE CHAMBER OF COMMERCE

Org PageRecipient Profile

Vacaville, CA

PURPOSE: PROVIDE LEADERSHIP & EDUCATION TO IMPROVE THE SUCCESS OF THE VACAVILLE BUSINESS COMMUNITY.

$10,610

CALIFORNIA PUMPKIN GROWERS CLUB

Org PageRecipient Profile

Penryn, CA

PURPOSE: TO SUPPORT & SPONSOR THE GIANT PUMPKIN WEIGH-OFF.

$10,000
View Grant Profile

Peer Organizations

Organization NameAssets
The Golden 1 Credit Union
Sacramento, CA
$525,382,897
Patelco Credit Union
Dublin, CA
$276,202,116
Onpoint Community Credit Union
Portland, OR
$300,691,175
San Diego County Credit Union
San Diego, CA
$305,241,036
Credit Unions In The State Of California
Pasadena, CA
$207,665,347
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Santa Rosa, CA
$248,972,690
Travis Credit Union
Vacaville, CA
$194,928,518
Safe Credit Union
Folsom, CA
$162,136,670
California Credit Union
Glendale, CA
$164,391,792
Credit Unions In The State Of California
Sunnyvale, CA
$197,844,755
Educational Employees Credit Union
Fresno, CA
$140,033,802
Oregon Community Credit Union
Eugene, OR
$182,242,816

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