VALLEY STRONG CU FKA KERN SCHOOLS … - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1938

Legal Domicile

Principal Officer

NICHOLAS AMBROSINI

Phone

6618337900

Tax Period

2023-01-01 to 2023-12-31

VALLEY STRONG CU FKA KERN SCHOOLS FEDERAL CREDIT UNION, founded in 1938, is a major nonprofit in the Public & Societal Benefit sector that reported $265.1M in total revenue in fiscal year 2023. Revenue surged 37% from the prior year, signaling strong growth momentum. Expenses of $247.0M left a modest 7% surplus.

Mission

VALLEY STRONG CREDIT UNION IS A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS, CREATING A SOURCE OF CREDIT FOR THEM AT RATES OF INTEREST SET BY THE BOARD OF DIRECTORS, AND PROVIDING AN OPPORTUNITY FOR THEM TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. AS A COOPERATIVE, VALLEY STRONG CREDIT UNION CONDUCTS ITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITS MEMBERS WITH THE EARNINGS, SAVINGS, BENEFITS, OR SERVICES OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS.

Program Service Accomplishments

Program 1

MEMBERSHIP EDUCATION CONFERENCES: WE HAVE EXTENSIVE WORKSHOP/ONLINE SEMINAR PROGRAMS WITH TOPICS WHICH TYPICALLY ARE HELD TWICE A QUARTER IN THE VARIOUS MARKETS. TOPICS COVERED ARE AUTO AND HOME...

MEMBERSHIP EDUCATION CONFERENCES: WE HAVE EXTENSIVE WORKSHOP/ONLINE SEMINAR PROGRAMS WITH TOPICS WHICH TYPICALLY ARE HELD TWICE A QUARTER IN THE VARIOUS MARKETS. TOPICS COVERED ARE AUTO AND HOME BUYING, RETIREMENT AND WEALTH MANAGEMENT, BUSINESS BANKING, CYBER SECURITY AND MEDICARE ASSISTANCE. ADDITIONALLY, WE HOLD FINANCIAL LITERACY CLASSES AT LOCAL SCHOOLS (K-12) AS WELL AS AREA COLLEGES AND COMMUNITY PARTNER LOCATIONS TO HELP INTRODUCE OUR YOUNG COMMUNITY MEMBERS WITH FINANCIAL KNOWLEDGE.

Program 2

ONGOING MARKETING STRATEGIES: WE HAVE FOCUSED OUR MARKETING EFFORTS ON BRANDING IN OUR EXPANSION MARKETS WHICH INCLUDE CHECKING OFFERS, MORTGAGE AND AUTO LOAN OPTIONS, BUSINESS BANKING OPPORTUNITIES...

Program 3

COMMUNICATIONS/LEGISLATIVE/REGULATORY/COMPLIANCE: WE KEEP MEMBERS UPDATED, PROVIDING ALL RULES AND REGULATIONS GOVERNING THE CREDIT UNION AND COMPLIANCE ASSISTANCE.

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $234,095,978

Investment Income $15,995,953

Other Revenue $14,982,984

TOTAL REVENUE $265,074,915

Expense Breakdown

Grants Paid $1,782,117

Salaries & Benefits $67,769,039

Fundraising Expenses $0

Other Expenses $177,446,160

TOTAL EXPENSES $246,997,316

Year-over-Year Comparison

	2023	2022	Change
Revenue	$265,074,915	$194,067,226	+0.4%
Expenses	$246,997,316	$177,414,551	+0.4%
Net Income	$18,077,599	$16,652,675	+0.1%

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

717

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

$8,511,957

Total Directors

$16,839

Key Employees

$8,158,969

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOE DREW	BOARD CHAIRMAN	3.00	Director	$0	$0	$0
DR BRYON SCHAEFER	1ST VICE CHAIRMAN	3.00	Director	$2,876	$0	$2,876
DR DENNIS SCOTT	2ND VICE CHAIRMAN	3.00	Director	$1,366	$0	$1,366
VALENCIA JONES	SECRETARY	3.00	Director	$2,797	$0	$2,797
JOANNE MILLS	TREASURER	3.00	Director	$2,181	$0	$2,181
DR S WILLIAM BRUCE	BOARD MEMBER	3.00	Director	$0	$0	$0
MARILYN JONES	BOARD MEMBER	2.00	Director	$0	$0	$0
MIKE KILEEN	BOARD MEMBER	2.00	Director	$0	$0	$0
CARL BA LANGE III	BOARD MEMBER	2.00	Director	$0	$0	$0
DR LARRY REIDER	BOARD MEMBER	2.00	Director	$0	$0	$0
MARK MORENO	BOARD MEMBER	2.00	Director	$2,166	$0	$2,166
TROY FRINGER	SUPV CMTE CHAIR	3.00	Director	$875	$0	$875
RAMON HENDRIX	SUPV CMTE MEMBER	2.00	Director	$1,805	$0	$1,805
TENIELLE TENSLEY	SUPV CMTE MEMBER	2.00	Director	$2,773	$0	$2,773
NICHOLAS AMBROSINI	PRESIDENT/CEO	40.00	Officer	$1,368,064	$74,311	$1,442,375
LINDSAY REYES	SVP/CFO	40.00	Officer	$440,277	$54,847	$495,124
MICHAEL P DUFFY RETIRED	EVP/CHIEF ADVOCACY OFFICER	40.00	Officer	$925,280	$95,707	$1,020,987
STEVEN MATEJKA	EVP/COO	40.00	Officer	$829,791	$63,849	$893,640
MIRELLA ELIZABETH REZNIC	EVP/CHIEF STRATEGY OFFICER	40.00	Officer	$712,359	$63,665	$776,024
CHARLES ALLEN SMITH	SVP/CHIEF LENDING OFFICER	40.00	Officer	$531,522	$37,994	$569,516
LINDSEY A BALUKOFF STRANGE	SVP/CHIEF RETAIL OFFICER	40.00	Officer	$518,010	$9,116	$527,126
DEANNA L BLAISE	SVP OF MEMBER BUSINESS SERVICES	40.00	Officer	$465,947	$72,050	$537,997
ERIN RICKELLE ESTELLE	SVP/CHIEF MARKETING OFFICER	40.00	Officer	$464,973	$71,748	$536,721
MARK MANNS	SVP/CHIEF HUMAN RESOURCES OFFICER	40.00	Officer	$459,674	$38,049	$497,723
NIKI MYRTO KOIMTZOGLOU	SVP/CHIEF COMPLIANCE OFFICER	40.00	Officer	$334,586	$10,591	$345,177
STEPHEN C ROACH RETIRED	SVP/CHIEF DIGITAL OFFICER	40.00	Officer	$309,371	$70,882	$380,253
SHONNA SHEARSON	SVP OF OPERATIONS	40.00	Officer	$256,084	$4,925	$261,009
KEVIN LEE EMPERGER-LANDEL	SVP/CHIEF TECH OFFICER (RETIRED)	40.00	Officer	$186,831	$41,454	$228,285
NORA M STROH RETIRED	LEGACY AMBASSADOR	40.00	Key Emp	$1,606,131	$56,529	$1,662,660
STEVEN G LEIGA RETIRED	VP OF ACCOUNTING	40.00	Key Emp	$1,219,538	$90,499	$1,310,037
JAMES B HUSSEY	VP OF WEALTH MANAGEMENT	40.00	Key Emp	$397,749	$78,138	$475,887
KEVIN MCCLOSKEY	DIRECTOR OF IT DEVELOPMENT	40.00	Key Emp	$392,106	$73,615	$465,721
BRIAN GRANT REYNOLDS	VP OF REAL ESTATE LENDING	40.00	Key Emp	$381,039	$65,602	$446,641
JOSHUA ALLEN FETTING	VP OF CONSUMER LENDING	40.00	Key Emp	$294,372	$51,715	$346,087
RICHARD NEAL SAZAMA	HEAD OF FACILITIES & CAPITAL PROJECTS	40.00	Key Emp	$258,707	$10,158	$268,865
CHEI WHITMORE	MARKET PRESIDENT	40.00	Key Emp	$246,631	$70,525	$317,156
KATHLEEN JULIA KELLY	MARKET PRESIDENT	40.00	Key Emp	$230,923	$45,945	$276,868
KEVIN MICHAEL LANGE	DIRECTOR OF CAPITAL MARKETS	40.00	Key Emp	$220,986	$71,919	$292,905
SHIRA B SPECTOR	VP OF DATA OFFICE/ADVANCED ANALYTICS	40.00	Key Emp	$236,487	$13,518	$250,005
BRIDGET LYNN JOHNSON	MARKET PRESIDENT	40.00	Key Emp	$226,925	$47,050	$273,975
CHRISTOPHER C TRIVERS	VP SALESFORCE ENTERPRISE	40.00	Key Emp	$208,639	$63,912	$272,551
STACY PHELPS	VP OF ACCOUNTING/CONTROLLER	40.00	Key Emp	$205,559	$12,314	$217,873
VANESSA L HUDSON	DIRECTOR OF BUSINESS LENDING	40.00	Key Emp	$185,603	$68,479	$254,082
SUSAN MAYS	HEAD OF RETAIL OPERATIONS	40.00	Key Emp	$190,806	$25,736	$216,542
NISHANT JAIN	VP OF ENGINEERING	40.00	Key Emp	$184,699	$47,653	$232,352
CHRISTOPHER J MCGOWN	DIRECTOR OF FACILITIES	40.00	Key Emp	$181,208	$28,831	$210,039
AMIE J HALE	VP OF EPMO AND M&A	40.00	Key Emp	$174,239	$9,416	$183,655
JAKHARA TANDY	BSA DIRECTOR/OFFICER	40.00	Key Emp	$170,155	$14,913	$185,068
FRANK XIAODONG FENG	FINANCIAL SERVICES PROFESSIONAL	40.00	Highest	$857,990	$6,776	$864,766
RICHARD RAMOS	FINANCIAL SERVICES PROFESSIONAL	40.00	Highest	$225,985	$11,723	$237,708
MARIA L TRANCOSO	SENIOR BUSINESS BANKING OFFICER	40.00	Highest	$208,267	$12,630	$220,897
ERIC STEINBACK	SENIOR BUSINESS BANKING OFFICER	40.00	Highest	$196,715	$70,997	$267,712
AARON LEE WILLIAMSON	SENIOR BUSINESS BANKING OFFICER	40.00	Highest	$193,914	$44,288	$238,202

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	$265,074,915	$246,997,316	$4,028,096,555	$18,077,599
2022	$194,067,226	$177,414,551	$4,187,947,178	$16,652,675
2021	$131,789,936	$100,994,405	$3,451,789,893	$30,795,531
2020	$99,760,280	$80,210,784	$2,205,905,112	$19,549,496

VALLEY STRONG CU FKA KERN SCHOOLS FEDERAL CREDIT UNION