Valley Credit Union
- Assets
- $101.1m
- Revenue
- $4.9m
- Investments
- $11.4m
- Employees
- 23
- Location
- Salem, OR
- Founding
- 10/1944
- Data as of
- 12/2022
- EIN
- 93-6027729
Organization Overview
Valley Credit Union is located in Salem, OR. The organization was established in 1944. 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 23 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. 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 $4.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $4.1m during the year ending 12/2022. While expenses have increased by 4.2% per year over the past 8 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
TO PROVIDE EXCEPTIONAL SERVICE AND PRODUCTS THAT INCLUDES GREAT RATES AND LOW FEES FOR OUR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE LOW COST LOANS TO MEMBERS USING FUNDS ON DEPOSIT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rob Kansky Chairman | OfficerTrustee | 1 | $0 |
Tyler Clark Vice Chairman | OfficerTrustee | 1 | $0 |
Denny Nielsen Director | Trustee | 1 | $0 |
Marilyn Bacon Director | Trustee | 1 | $0 |
Patrick Vance Director | Trustee | 1 | $0 |
Earlene Naylor Director | Trustee | 1 | $0 |
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 | $4,539,124 |
| Investment income | $362,616 |
| 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 | $4,901,740 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $13,918 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $48,230 |
| Compensation of current officers, directors, key employees. | $365,846 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $813,282 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $354,531 |
| Payroll taxes | $101,342 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $19,539 |
| Fees for services: Accounting | $24,650 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $77,891 |
| Advertising and promotion | $92,295 |
| Office expenses | $848,154 |
| Information technology | $42,672 |
| Royalties | $0 |
| Occupancy | $117,487 |
| Travel | $38,711 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,969 |
| Interest | $74,488 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $61,648 |
| Insurance | $0 |
| All other expenses | $6,337 |
| Total functional expenses | $4,146,414 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,477,512 |
| Savings and temporary cash investments | $5,242,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $639,435 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $78,783,905 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $248,657 |
| Net Land, buildings, and equipment | $1,818,638 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $11,406,411 |
| Investments—program-related | $763,053 |
| Intangible assets | $0 |
| Other assets | $769,654 |
| Total assets | $101,149,265 |
| Accounts payable and accrued expenses | $1,164,917 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $5,750,222 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $82,499,943 |
| Total liabilities | $89,415,082 |
| Net assets without donor restrictions | $11,734,183 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $101,149,265 |