Virginia Coop Credit Union

Organization Overview

Virginia Coop Credit Union is located in Virginia, MN. 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 12/2021, Virginia Coop Credit Union employed 9 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Virginia Coop 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 12/2021, Virginia Coop Credit Union generated $1.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $1.2m during the year ending 12/2021. While expenses have increased by 6.2% per year over the past 7 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

WE ARE A MEMBER OWNED COOPERATIVE CREDIT UNION WHICH PROVIDES QUALITY AND COMPETITIVE FINANCIAL PRODUCTS AND SERVICES TO SATISFY OUR MEMBERS FINANCIAL NEEDS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

SERVICING MEMBERS DEPOSITS, LOANS, AND MEMBER ACCOUNTS.


SERVICING AND COLLECTIONS ON MEMBERS' HOME EQUITY LOANS, SECURED LOANS, UNSECURED LOANS, AND CREDIT CARDS.


INFORMATION TECHNOLOGY - RECORDED MEMBER TRANSACTION INFORMATION AND PROVIDED ACCESS TO FUNDS IN PERSON, VIA HOME BANKING, AND ATM MACHINES.


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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$1,190,868
Investment income $196,184
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $14,400
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 $1,401,452

Peer Organizations

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