Volunteer Corporate Credit Union

Organization Overview

Volunteer Corporate Credit Union is located in Nashville, TN. The organization was established in 1952. 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 12/2019, Volunteer Corporate Credit Union employed 58 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Volunteer Corporate 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 12/2019, Volunteer Corporate Credit Union generated $40.5m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 23.2% each year . All expenses for the organization totaled $33.6m during the year ending 12/2019. While expenses have increased by 23.9% per year over the past 5 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

2019

Describe the Organization's Mission:

Part 3 - Line 1

VOLUNTEER CORPORATE CREDIT UNION EXISTS TO PROVIDE MORE EFFICENT SERVICES FOR ITS MEMBER CREDIT UNIONS SO THEY MAY SERVE THEIR NATURAL MEMBERS BETTER.

Describe the Organization's Program Activity:

Part 3 - Line 4a

VOLUNTEER CORPORATE CREDIT UNION IS A NOT-FOR-PROFIT FINANCIAL COOPERATIVE THAT SERVES NATURAL PERSON CREDIT UNIONS NATIONALLY. IT WAS ORGANIZED FOR THE EXPRESS PURPOSE OF PROVIDING LOW-COST FINANCIAL SERVICES AND COMPETITIVE INVESTMENT AND LENDING RATES TO ITS MEMBER/OWNERS.


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Board, Officers & Key Employees

Name (title)Compensation
Jeffrey Merry
President/ceo
$403,291
Phillip Cochran
Svp/chief Investment Offic
$230,237
Ben Williams
Svp/cto
$190,464
Sandra Swofford
Svp, Marketing & Business
$176,814
Jeffrey Dato
Svp/cro
$172,771
Susan Stack
Svp/cfo
$170,789

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$0
Investment income $32,249,641
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
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 $40,461,745

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