UNIVERSITY OF VIRGINIA COMMUNITY CREDIT UNION

EIN: 540674170

CHARLOTTESVILLE, VA

Total Revenue
$68,043,323
Total Expenses
$59,776,332
Total Assets
$1,446,557,883
Net Assets
$109,212,863
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1954
Legal Domicile
VA
Principal Officer
SUSAN GRUBER
Phone
4349642001
Tax Period
2023-01-01 to 2023-12-31

UNIVERSITY OF VIRGINIA COMMUNITY CREDIT UNION, founded in 1954, is a mid-sized nonprofit that reported $68.0M in total revenue in fiscal year 2023. Revenue surged 33% from the prior year, signaling strong growth momentum. Expenses of $59.8M left a modest 12% surplus.

Mission

THE MISSION OF THE UNIVERSITY OF VIRGINIA COMMUNITY CREDIT UNION, INC. IS TO 1) ENCOURAGE THRIFT AMONG MEMBERSHIP, THUS CREATING A LENDABLE POOL OF FUNDS 2) MAKE MEMBER LOANS AT A REASONABLE RATE OF INTEREST 3) PAY A FAIR RATE OF RETURN ON MEMBER SAVINGS 4) PROVIDE HELPFUL MEMBER FINANCIAL SERVICE.

Program Service Accomplishments

Program 1

DURING 2023, UNIVERSITY OF VIRGINIA COMMUNITY CREDIT UNION, INC., A STATE-CHARTERED CREDIT UNION LOCATED IN CENTRAL VIRGINIA, PROVIDED FINANCIAL SERVICES TO MEMBERS WHO LIVE, WORK, OR ATTEND SCHOOL...

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DURING 2023, UNIVERSITY OF VIRGINIA COMMUNITY CREDIT UNION, INC., A STATE-CHARTERED CREDIT UNION LOCATED IN CENTRAL VIRGINIA, PROVIDED FINANCIAL SERVICES TO MEMBERS WHO LIVE, WORK, OR ATTEND SCHOOL IN THE COUNTIES OF ALBEMARLE, AMHERST, AUGUSTA, BATH, BEDFORD, BUCKINGHAM, CAMPBELL, CULPEPER, CUMBERLAND, FAUQUIER, FLUVANNA, GREENE, HIGHLAND, LOUISA, MADISON, NELSON, ORANGE, RAPPHANNOCK, ROCKBRIDGE, ROCKINGHAM, AS WELL AS THE CITIES OF CHARLOTTESVILLE, HARRISONBURG, LYNCHBURG, STAUNTON, & WAYNESBORO. THE CREDIT UNION CONTINUED TO FULFILL ITS EXEMPT PURPOSE BY PROVIDING CREDIT AT FAIR AND REASONABLE RATES OF INTEREST, OFFERING COMPETITIVE SHARE DEPOSIT PRODUCTS, AND PROVIDING MEMBERS WITH THE OPPORTUNITY TO IMPROVE THEIR ECONOMIC CONDITION. AS OF THE END OF 2023, THE CREDIT UNION SERVED 80,094 MEMBERS.

Program 2

PROVIDE 40,195 LOANS INCLUDING HOME EQUITY, SHARE SECURED, FIRST MORTGAGE, CREDIT CARD, UNSECURED, NEW AND USED VEHICLE, RECREATIONAL VEHICLES, AND LINE OF CREDIT WITH AGGREGATE LOAN BALANCES THAT...

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PROVIDE 40,195 LOANS INCLUDING HOME EQUITY, SHARE SECURED, FIRST MORTGAGE, CREDIT CARD, UNSECURED, NEW AND USED VEHICLE, RECREATIONAL VEHICLES, AND LINE OF CREDIT WITH AGGREGATE LOAN BALANCES THAT APPROXIMATED $823,637,000 AS OF DECEMBER 31, 2023.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $44,375,771
Investment Income $15,370,400
Other Revenue $8,297,152
TOTAL REVENUE $68,043,323

Expense Breakdown

Grants Paid $37,500
Salaries & Benefits $27,768,931
Fundraising Expenses $0
Other Expenses $31,969,901
TOTAL EXPENSES $59,776,332

Year-over-Year Comparison

2023 2022 Change
Revenue $68,043,323 $51,224,047 +0.3%
Expenses $59,776,332 $45,436,580 +0.3%
Net Income $8,266,991 $5,787,467 +0.4%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
16
Independent Members
16
Employees
325
Volunteers
16

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
3
$1,334,324
Total Directors
11
$0
Key Employees
6
$1,489,737
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JEFFREY C MOSCICKI CHAIRPERSON 1.00
Director
$0 $0 $0
CYNTHIA MURRAY BOD MEMBER 1.00
Director
$0 $0 $0
LYNNE RICHMAN BELL BOD MEMBER 1.00
Director
$0 $0 $0
PAMELA W HIGGINS V. CHAIRPERSON 1.00
Director
$0 $0 $0
ROB W FREER BOD SECRETARY 1.00
Director
$0 $0 $0
LISA P HEUCHERT BOD MEMBER 1.00
Director
$0 $0 $0
MARIE C MELTON BOD MEMBER 1.00
Director
$0 $0 $0
ROBERT NEIL BOD MEMBER 1.00
Director
$0 $0 $0
BENJAMIN MCCARTNEY BOD MEMBER 1.00
Director
$0 $0 $0
KENNETH EADES BOD TREASURER 1.00
Director
$0 $0 $0
J BARRETT JONES BOD MEMBER 1.00
Director
$0 $0 $0
PETER HOLMAN CFO 40.00
Officer
$282,288 $61,761 $344,049
SUSAN GRUBER CEO/PRESIDENT 40.00
Officer
$675,062 $33,000 $708,062
BELINDA TUCKER COO 40.00
Officer
$282,213 $0 $282,213
DAVID ESWORTHY SVP RETAIL 40.00
Key Emp
$206,820 $13,564 $220,384
ETHAN DUNSTAN SVP BUSINESS BANKING 40.00
Key Emp
$195,517 $37,457 $232,974
GEORGE FISHER CIO 40.00
Key Emp
$212,977 $54,790 $267,767
BRENDAN MCCORMICK SVP INTERNAL AUDIT 40.00
Key Emp
$186,493 $43,176 $229,669
BONNIE WILKINS SVP COMMERCIAL CREDIT 40.00
Key Emp
$171,630 $28,365 $199,995
JOE RAICHEL CLO 40.00
Key Emp
$286,293 $52,655 $338,948
KAREN SCHEMMEL BUSINESS ANALYSIS MGR 40.00
Highest
$167,905 $17,227 $185,132
JANINE WILLIAMS VP CREDIT UNION AFFAIRS 40.00
Highest
$161,145 $40,982 $202,127
JONATHON NEEL VP TECHNOLOGY 40.00
Highest
$171,521 $41,496 $213,017
SUZANNE HESS VP ACCOUNTING 40.00
Highest
$180,795 $26,084 $206,879
ANNE LESKO CHRO 40.00
Highest
$202,260 $45,571 $247,831
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
2024 No data No data No data No data
2023 $68,043,323 $59,776,332 $1,446,557,883 $8,266,991
2022 $51,224,047 $45,436,580 $1,409,418,311 $5,787,467
2021 $46,956,811 $38,843,292 $1,415,250,670 $8,113,519
2020 $44,689,577 $39,972,996 $1,210,620,558 $4,716,581
2019 $47,038,027 $40,239,559 $1,026,121,491 $6,798,468
2018 $43,422,781 $36,155,439 $954,157,214 $7,267,342
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