Vizo Financial Corporate Credit Union

Organization Overview

Vizo Financial Corporate Credit Union is located in Greensboro, NC. The organization was established in 1969. 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, Vizo Financial Corporate Credit Union employed 187 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Vizo Financial Corporate 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, Vizo Financial Corporate Credit Union generated $155.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 44.0% each year . All expenses for the organization totaled $54.0m during the year ending 12/2021. While expenses have increased by 28.5% per year over the past 7 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 2017, Vizo Financial Corporate Credit Union has awarded 11 individual grants totaling $128,415. 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

VIZO FINANCIAL IS THE CREDIT UNIONS' "CREDIT UNION" OFFERING LIQUIDITY SERVICES, INVESTMENT SERVICES, AND CORRESPONDENT SERVICES TO ITS MEMBERS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

SETTLEMENT AND PAYMENT SERVICES: WE PROVIDE AGGREGATED PAYMENT SERVICES SO CREDIT UNIONS CAN EFFICIENTLY AND COST EFFECTIVELY SERVE THEIR MEMBERS, PROVIDING THEM TOOLS FOR MOVING MONEY ELECTRONICALLY.


FUNDS MANAGEMENT & LIQUIDITY SERVICES: ONE OF THE KEY SERVICES WE PROVIDE MEMBERS IS A COMPLETE LINE OF COMPETITIVE SHORT-TERM DEPOSIT PRODUCTS COMBINED WITH LINES-OF-CREDIT SO THAT THEY CAN MORE EFFECTIVELY MANAGE THEIR CASH FLOW NEEDS.


ASSET-LIABILITY MANAGEMENT (ALM) AND RISK MANAGEMENT SERVICES: ALM SERVICES INCLUDE BOTH CONSULTING AND MODELING RISKS INHERENT IN A CREDIT UNION'S BALANCE SHEET. OUR RISK MANAGEMENT SERVICES INCLUDE COMPLIANCE/REGULATORY TRAINING, INFORMATION SYSTEM RISK ASSESSMENTS, BUSINESS CONTINUITY PLANNING, AND ENTERPRISE RISK MANAGEMENT BEST PRACTICES. THESE SERVICES ARE DESIGNED TO HELP CREDIT UNIONS BEST UNDERSTAND AND MITIGATE RISKS THEY ENCOUNTER IN THEIR OPERATIONS.


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Board, Officers & Key Employees

Name (title)Compensation
Fred Eisel
Cio
$528,504
Mark Brown
CFO
$521,583
David Brehmer
President/ceo
$503,545
Drew Kishbaugh
Former COO
$271,708
Jeffrey Stoner
Chief Strategy Officer
$257,645
Jay Murray
CEO (jan 2021-Jun 2021)
$247,913

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Aptys
Eft Solutions Partner
$525,753
Robert Half Technology
It Personnel On Contract
$598,729
Cu Answers
Core Data Processor Partner
$1,046,597
Fiserv Inc
Processing And Ancillary
$449,251
Alogent
Deposit Capture Platform
$630,256
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$119,689,284
Investment income $35,851,249
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $155,341,145

Grants Awarded

Over the last fiscal year, Vizo Financial Corporate Credit Union has awarded $42,950 in support to 4 organizations.

Grant RecipientAmount

CROSSSTATE CREDIT UNION FOUNDATION

Org PageRecipient Profile

Harrisburg, PA

PURPOSE: CHARITABLE CONTRIBUTION

$11,850

CAROLINAS CREDIT UNION FOUNDATION

Org PageRecipient Profile

Columbia, SC

PURPOSE: CHARITABLE CONTRIBUTION

$10,600

PENN STATE HEALTH CHILDREN'S HOSPITAL

PURPOSE: CHARITABLE CONTRIBUTION

$10,500

NATIONAL CREDIT UNION FOUNDATION

Org PageRecipient Profile

Madison, WI

PURPOSE: CHARITABLE CONTRIBUTION

$10,000
View Grant Profile

Peer Organizations

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