VIRGINIA CREDIT UNION INC (EIN 540578719) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1928

Legal Domicile

Principal Officer

CHRISTOPHER M SHOCKLEY

Phone

8043236000

Tax Period

2023-01-01 to 2023-12-31

VIRGINIA CREDIT UNION INC, founded in 1928, is a major nonprofit that reported $213.9M in total revenue in fiscal year 2018. Revenue grew 13% year-over-year, indicating healthy expansion. The organization ran a surplus of $35.6M, a strong 17% operating margin.

Mission

STATE CHARTERED CREDIT UNION

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $288,597,275

Investment Income $53,176,752

Other Revenue $0

TOTAL REVENUE $341,774,027

Expense Breakdown

Grants Paid $1,389,000

Salaries & Benefits $106,751,095

Fundraising Expenses $0

Other Expenses $211,331,764

TOTAL EXPENSES $319,471,859

Year-over-Year Comparison

	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%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✓ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

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

Governance

Voting Members

Independent Members

Employees

914

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$2,328,838

Total Directors

$47,927

Key Employees

$1,294,081

Highest Compensated

reported

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

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

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

VIRGINIA CREDIT UNION INC