RICHMOND, VA
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)VIRGINIA CREDIT UNION INC, founded in 1928, is a major nonprofit that reported $341.8M in total revenue in fiscal year 2023. Revenue surged 27% from the prior year, signaling strong growth momentum. Expenses of $319.5M left a modest 7% surplus.
TO BE OUR MEMBERS' TRUSTED PROVIDER OF FINANCIAL SERVICES, HELPING THEM ACHIEVE GREATER SUCCESS.
VIRGINIA CREDIT UNION (VACU) HAS BEEN A PILLAR OF SUPPORT FOR THE COMMUNITY FOR NEARLY A CENTURY. BASED ON MEMBER FEEDBACK, IN 2023 VACU CONTINUED TO FOCUS ITS CHARITABLE CONTRIBUTIONS IN THREE...
VIRGINIA CREDIT UNION (VACU) HAS BEEN A PILLAR OF SUPPORT FOR THE COMMUNITY FOR NEARLY A CENTURY. BASED ON MEMBER FEEDBACK, IN 2023 VACU CONTINUED TO FOCUS ITS CHARITABLE CONTRIBUTIONS IN THREE AREAS: FINANCIAL EDUCATION, FOOD SECURITY, AND CHILDREN. ALTHOUGH THERE ARE MANY WORTHY CHARITIES ACROSS VIRGINIA, OUR HOPE IS THAT BY BEING FOCUSED AND INTENTIONAL WE CAN ACHIEVE GREATER IMPACT IN THESE THREE AREAS.IN THE PAST YEAR, VACU HAS MADE CHARITABLE CONTRIBUTIONS OF APPROXIMATELY $2 MILLION TO OVER 200 RECIPIENTS, ENCOMPASSING FINANCIAL, VOLUNTEER, AND IN-KIND DONATIONS. VOLUNTEERS FROM THE CREDIT UNION HAVE DEDICATED APPROXIMATELY 2,100 HOURS OF THEIR TIME THIS YEAR, PARTICIPATING IN VARIOUS COMMUNITY EVENTS, FROM MENTORING STUDENTS TO ORGANIZING DRIVES TO COLLECT ESSENTIAL SCHOOL SUPPLIES FOR LOCAL STUDENTS. OUR COMMITMENT TO THE LOCAL RICHMOND COMMUNITY IS FURTHER EVIDENT BY THE FIVE BRANCHES WE'VE OPENED SINCE JUNE 2022.RECOGNIZING THE POWER OF FINANCIAL LITERACY, VACU'S TEAM OF FINANCIAL SUCCESS EDUCATORS REACHED APPROXIMATELY 100,000 INDIVIDUALS IN 2023, WITH THEIR EFFORTS AMPLIFIED THROUGH THEIR LIBRARY OF FINANCIAL EDUCATION RESOURCES. THE TEAM'S VIDEOS, ARTICLES, AND EXPERTISE WERE FEATURED OVER 4,000 TIMES ACROSS THE U.S. REACHING MILLIONS OF VIEWERS.THE IMPACT OF VACU'S FINANCIAL EDUCATION INITIATIVES IS EVIDENT THROUGH VARIOUS PROGRAMS AND PARTNERSHIPS. FROM PROVIDING FINANCIAL EDUCATION CLASSES TO ORGANIZATIONS SUCH AS RICHMOND CITY'S OFFICE OF COMMUNITY WEALTH BUILDERS AND THE YMCA OF RICHMOND, TO SUPPORTING INITIATIVES LIKE RICHMOND PUBLIC SCHOOLS SAVES AND RVA READS, VACU IS DEDICATED TO EMPOWERING INDIVIDUALS WITH THE KNOWLEDGE AND SKILLS TO MAKE INFORMED FINANCIAL DECISIONS.VACU'S COMMITMENT TO COMMUNITY AND FINANCIAL EDUCATION HAS NOT GONE UNNOTICED. WE WERE HONORED WITH THE RICHMOND ECONOMIC DEVELOPMENT PARTNER OF THE YEAR AWARD FOR OUTSTANDING EDUCATIONAL AND CIVIC CONTRIBUTIONS. ADDITIONALLY, VACU WAS RANKED NUMBER ONE AND TWO IN THE COUNTRY FOR FINANCIAL EDUCATION FOR ADULTS AND YOUTH, RESPECTIVELY, BY BOTH STATE AND NATIONAL ASSOCIATIONS FOR CREDIT UNIONS.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2023 | 2022 | Change | |
|---|---|---|---|
| Revenue | $341,774,027 | $269,593,613 | +0.3% |
| Expenses | $319,471,859 | $219,484,073 | +0.5% |
| Net Income | $22,302,168 | $50,109,540 | -0.6% |
Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics
Financial Distress Indicator
Liquidity & Cash Position
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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| KIMBERLY BAINE | DIRECTOR | 5.00 |
Director
|
$0 | $0 | $0 |
| ROBERT BOLLING | DIRECTOR/SECRETARY TREASUR | 5.00 |
Officer
Director
|
$6,165 | $0 | $6,165 |
| KENNETH E AMPY | DIRECTOR/BOARD CHAIR | 10.00 |
Officer
Director
|
$6,165 | $0 | $6,165 |
| ERIC B TOLBERT | DIRECTOR | 5.00 |
Director
|
$5,736 | $0 | $5,736 |
| PAUL THOMPSON | DIRECTOR | 5.00 |
Director
|
$6,165 | $0 | $6,165 |
| MELINA DAVIS | DIRECTOR/BOARD VICE CHAIR | 5.00 |
Officer
Director
|
$6,165 | $0 | $6,165 |
| ROBERT JONES | DIRECTOR | 5.00 |
Director
|
$5,618 | $0 | $5,618 |
| BRIAN K JACKSON | DIRECTOR | 5.00 |
Director
|
$6,165 | $0 | $6,165 |
| JOHN T GRIER | DIRECTOR | 5.00 |
Director
|
$1,488 | $0 | $1,488 |
| PATRICIA GREEN | DIRECTOR | 5.00 |
Director
|
$4,260 | $0 | $4,260 |
| TRACY MCCABE | DIRECTOR | 5.00 |
Director
|
$0 | $0 | $0 |
| CHRISTOPHER SHOCKLEY | PRESIDENT/CEO | 60.00 |
Officer
|
$1,136,990 | $316,800 | $1,453,790 |
| STEPHANIE VICK | EVP/CFO | 55.00 |
Officer
|
$768,990 | $87,563 | $856,553 |
| CHRISTOPHER N SANEDA | SEVP/COO | 55.00 |
Key Emp
|
$1,085,363 | $208,718 | $1,294,081 |
| DEBORAH WREDEN | EVP PRODUCT AND STRATEGY | 55.00 |
Highest
|
$469,262 | $106,322 | $575,584 |
| LEE DRANOFF | EVP LENDING | 55.00 |
Highest
|
$471,048 | $123,267 | $594,315 |
| MICHAEL NOBLE | EVP CHIEF BUS BANKING OFFI | 55.00 |
Highest
|
$487,201 | $77,716 | $564,917 |
| MARYANN FATHEDDIN | EVP HUMAN RESOURCES | 55.00 |
Highest
|
$490,637 | $76,148 | $566,785 |
| JOHN STONE | EVP FIN SER/CUSO PRES | 55.00 |
Highest
|
$516,705 | $66,848 | $583,553 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2023 | $341,774,027 | $319,471,859 | $5,324,355,565 | $22,302,168 |
| 2022 | $269,593,613 | $219,484,073 | $5,086,460,688 | $50,109,540 |
| 2021 | $263,088,979 | $212,439,527 | $4,993,101,039 | $50,649,452 |
| 2020 | $279,286,306 | $249,381,398 | $4,532,757,612 | $29,904,908 |
| 2019 | $246,247,063 | $207,475,395 | $3,729,406,291 | $38,771,668 |
| 2018 | $213,935,125 | $178,335,094 | $3,638,027,361 | $35,600,031 |
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