Valley Financial Credit Union
- Assets
- $425.0m
- Revenue
- $21.1m
- Investments
- $5.9m
- Employees
- 135
- Location
- Billings, MT
- Founding
- 10/2018
- Data as of
- 12/2022
- EIN
- 81-0247124
Organization Overview
Valley Financial Credit Union, operating under the name Valley Credit Union, is located in Billings, MT. The organization was established in 2018. 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 12/2022, Valley Credit Union employed 135 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Valley 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 12/2022, Valley Credit Union generated $21.1m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $16.9m during the year ending 12/2022. While expenses have increased by 4.6% per year over the past 4 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
BUILDING RELATIONSHIPS WITH PEOPLE IN OUR COMMUNITIES AND UNITING WITH THEM TO ACHIEVE THEIR DREAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Casey Klein Chief Executive Officer | Officer | 40 | $304,047 |
Scott Kanning Chief Financial Officer | Officer | 40 | $141,094 |
Eric Wilson Chief Lending Officer | Officer | 40 | $189,661 |
Cindy Roesler Chief Risk Officer | 40 | $123,060 | |
Kindra Mcmullin Chief Operations Officer | 40 | $112,264 | |
Joseph Olivo VP Of Member Experience | 40 | $107,851 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
A D Creative Group Advertising | 12/30/22 | $407,621 |
Mailing Technical Services Mailing Services | 12/30/22 | $210,902 |
Fiserv Processing Services | 12/30/22 | $1,783,792 |
First Call Computer Solutions Inc It Services | 12/30/22 | $134,546 |
Allie Law Firm Legal Services | 12/30/22 | $112,552 |
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 | $19,467,006 |
| Investment income | $1,199,001 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$200,048 |
| Net Gain/Loss on Asset Sales | $4,940 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $21,078,059 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,079,096 |
| Compensation of current officers, directors, key employees. | $711,872 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,443,616 |
| Pension plan accruals and contributions | $159,839 |
| Other employee benefits | $692,792 |
| Payroll taxes | $481,498 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $19,298 |
| Fees for services: Accounting | $71,279 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $203,987 |
| Advertising and promotion | $596,805 |
| Office expenses | $1,269,335 |
| Information technology | $109,320 |
| Royalties | $0 |
| Occupancy | $514,437 |
| Travel | $14,584 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $76,560 |
| Interest | $16,348 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $673,599 |
| Insurance | $109,241 |
| All other expenses | $356,315 |
| Total functional expenses | $16,871,815 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,660,057 |
| Savings and temporary cash investments | $47,378,165 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $697,542 |
| Loans from Officers, Directors, or Controlling Persons | $1,019,466 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $302,383,902 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $615,976 |
| Net Land, buildings, and equipment | $10,788,837 |
| Investments—publicly traded securities | $34,766,102 |
| Investments—other securities | $5,917,287 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,737,250 |
| Total assets | $424,964,584 |
| Accounts payable and accrued expenses | $3,852,389 |
| Grants payable | $0 |
| Deferred revenue | $123,849 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $266,800 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $369,573,673 |
| Total liabilities | $376,816,711 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $48,147,873 |
| Total liabilities and net assets/fund balances | $424,964,584 |