University Of Virginia Community Credit Union
- Assets
- $1.4b
- Revenue
- $47.0m
- Investments
- $0.0
- Employees
- 403
- Location
- Charlottesville, VA
- Founding
- Data as of
- 12/2021
- EIN
- 54-0674170
Organization Overview
University Of Virginia Community Credit Union is located in Charlottesville, VA. As of 12/2021, University Of Virginia Community Credit Union employed 403 individuals. University Of Virginia Community 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, University Of Virginia Community Credit Union generated $47.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $38.8m during the year ending 12/2021. While expenses have increased by 7.6% per year over the past 6 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE UNIVERSITY OF VIRGINIA COMMUNITY CREDIT UNION 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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING 2021, 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 2021, THE CREDIT UNION SERVED 73,624 MEMBERS.
PROVIDE 32,590 LOANS INCLUDING HOME EQUITY, SHARE SECURED, FIRST MORTGAGE, CREDIT CARD, UNSECURED, NEW AND USED VEHICLE, RECREATIONAL VEHICLES, AND LINE OF CREDIT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alison Detuncq Ceo/president | Officer | 40 | $839,922 |
Margo Jones Mortgage Loan Officer | 40 | $352,863 | |
Keith O'neil COO | Officer | 40 | $254,301 |
George Ballew SVP Member Options | Officer | 40 | $239,865 |
Peter Holman CFO | Officer | 40 | $234,855 |
David Esworthy SVP Retail Deilvery Strate | Officer | 40 | $186,623 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Q2ebanking Online/mobile Banking | 12/30/21 | $1,398,661 |
Fiserv Operating System Software | 12/30/21 | $1,046,178 |
Hrcontract Janitorial Services, Document Destructio | 12/30/21 | $435,812 |
Branchserv Card Processor Contract Renewal Negotiat | 12/30/21 | $436,246 |
Fis Debit/credit Card Processing | 12/30/21 | $1,376,092 |
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 | $28,457,958 |
| Investment income | $7,685,154 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$111,883 |
| Net Gain/Loss on Asset Sales | $173,006 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $46,956,811 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $25,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,999,610 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $14,539,118 |
| Pension plan accruals and contributions | $1,215,325 |
| Other employee benefits | $2,621,371 |
| Payroll taxes | $1,145,975 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $83,617 |
| Fees for services: Accounting | $146,776 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $219,550 |
| Fees for services: Other | $677,482 |
| Advertising and promotion | $687,885 |
| Office expenses | $6,290,750 |
| Information technology | $1,314,999 |
| Royalties | $0 |
| Occupancy | $757,432 |
| Travel | $231,051 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,653,359 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,645,039 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $38,843,292 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,734,943 |
| Savings and temporary cash investments | $211,736,663 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,019,410 |
| Loans from Officers, Directors, or Controlling Persons | $8,100,585 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $668,042,276 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $6,793,704 |
| Net Land, buildings, and equipment | $27,436,934 |
| Investments—publicly traded securities | $449,509,918 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $32,876,237 |
| Total assets | $1,415,250,670 |
| Accounts payable and accrued expenses | $12,766,393 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,282,436,216 |
| Total liabilities | $1,295,202,609 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $120,048,061 |
| Total liabilities and net assets/fund balances | $1,415,250,670 |
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