Virginia Credit Union Inc

Virginia Credit Union Inc Overview

Virginia Credit Union Inc is located in Richmond, VA. As of 12/2018, Virginia Credit Union Inc employed 818 individuals.

For the year ending 12/2018, Virginia Credit Union Inc generated $213.9m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 9.1% each year. All expenses for the organization totaled $178.3m during the year ending 12/2018. While expenses have increased by 9.1% per year over the past 4 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

2018

Describe the Organization's Mission:

Part 3 - Line 1

STATE CHARTERED CREDIT UNION - SEE SCHEDULE 0DEPOSITS ARE COLLECTED FROM MEMBERS, LOANS ARE MADE TO MEMBERS, AND OTHER FINANCIAL SERVICES ARE PROVIDED IN ORDER TO PROMOTE THRIFT AMONGST MEMBERS AND HELP THEM GET AHEAD FINANCIALLY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

VIRGINIA CREDIT UNION REACHED NEW MILESTONES IN 2018, AND OUR MEMBERSHIP CONTINUED TO GROW, TOPPING 275,000 FOR THE FIRST TIME. IN 2018, THE CREDIT UNION: UNVEILED NEW TOOLS TO GIVE MEMBERS MORE CONTROL OVER THEIR DEBIT AND CREDIT CARDS, LIKE TURNING CARDS ON OR OFF, MANAGING ALERTS, SETTING TRAVEL MEMOS AND MORE. BOOSTED SECURITY AS MORE MEMBERS SIGNED ON FOR VACU VOICE ID RECOGNITION SOFTWARE. SUBSTANTIALLY COMPLETED CONSTRUCTION FOR A LARGER FACILITY IN SPOTSYLVANIA COUNTY TO REPLACE THE COSNER'S CORNER BRANCH. THE NEW COSNER EAST BRANCH WILL OPEN IN EARLY 2019. GAINED RECOGNITION FOR EXCELLENCE BY READERS OF RICHMOND MAGAZINE AND THE RICHMOND TIMES-DISPATCH. SET A NEW RECORD FOR FINANCIAL EDUCATION PROGRAMS, WITH 27,113 ATTENDING A VACU-LED WORKSHOP OR CLASS. 2018 WAS ALSO A YEAR OF GROWTH FOR THE LOCAL BUSINESSES THAT RELY ON VIRGINIA CREDIT UNION. VACU IS HELPING LOCAL BUSINESSES COMPETE BY PROVIDING BUSINESS LOANS FOR NEEDED PROJECTS AND EXPANSIONS. IN 2018, FINANCING FROM VACU HELPED OPEN A RESTORED HOTEL IN FARMVILLE, RENOVATE HISTORIC PORPERTIES NEAR DOWNTOWN RICHMOND, AND EXPAND OPERATIONS FOR A CHARLOTTESVILLE-BASED SOLAR ENERGY COMPANY.


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Virginia Credit Union Inc Board, Officers & Key Employees

Virginia Credit Union Inc Vendors

Vendor Name (Service)Compensation
Elevation Llc
Advertising
$2,488,756
Presidio Networked Solutions
Information Technology
$1,483,790
Sycom Technologies Llc
Information Technology
$912,115
Slait Consulting
Information Technology
$759,236
Tfa National Operations Agency Llc
Loan Services
$1,630,753
View All Vendors

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$188,438,790
Investment income $19,541,122
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $5,955,213
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $213,935,125

Virginia Credit Union Inc Grants Awarded

Over the last fiscal year, Virginia Credit Union Inc has awarded $124,514 in support to 11 organizations.

Grant RecipientAmount

VA COUNCIL ON ECONOMIC EDUCATION

Org PageRecipient Profile

Richmond, VA

PURPOSE: FUND FOR TEACHING EXCELLENCE-NAME ON SOC MEDIA-WEBSITE-SPK OPP

$26,000

Richmond, VA

PURPOSE: VACU DAY-GREENHOUSE SUPPLIES-MULCH

$14,926

New York, NY

PURPOSE: BIKE MS-WALK SPONSORSHIPS

$13,500

MAGGIE WALKER COM LAND TRUST

Org PageRecipient Profile

Richmond, VA

PURPOSE: GENERAL PURPOSES

$12,500

CHILDRENS MIRACLE NETWORK

Org PageRecipient Profile

Salt Lake City, UT

PURPOSE: GENERAL PURPOSES

$12,193

YMCA GREATER RICHMOND

Org PageRecipient Profile

Richmond, VA

PURPOSE: 2018 JOHN ROLFE, SW CRK, ASSOCIATION ANNUAL CAMPAIGNS

$10,000
View Grant Profile

Virginia Credit Union Inc Grants Recieved

Over the last fiscal year, we have identified 1 grants that Virginia Credit Union Inc has recieved totaling $18,000.

Awarding OrganizationAmount
National Credit Union Foundation Inc

Madison, WI

PURPOSE: FINANCIAL HEALTH SEGMENTATION GRANTS

$18,000
View Grant Recipient Profile

Virginia Credit Union Inc Peer Organizations

Organization NameAssets
Childrens Hospital And Physicians Healthcare Network
Columbus, OH
$990,886,058
Miami Valley Hospital
Dayton, OH
$1,204,039,189
Community Behavorial Health
Philadelphia, PA
$994,019,146
Pennsylvania Employees Benefit
Harrisburg, PA
$1,128,204,377
Delta Account Based Medical Tr
Atlanta, GA
$960,657,990
Piedmont Hospital Incorporated
Atlanta, GA
$1,110,027,803
Reading Hospital
Reading, PA
$1,035,019,113
Howard University
Washington, DC
$1,025,632,000
Novant Health Inc
Winston Salem, NC
$1,019,396,293
Research Triangle Institute
Research Triangle Park, NC
$967,451,493
Valley Health System
Winchester, VA
$971,556,673
Howard Hughes Medical Institute
Chevy Chase, MD
$1,467,289,681

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