CREDIT UNIONS IN THE STATE OF CALIFORNIA: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- CREDIT UNIONS IN THE STATE OF CALIFORNIA (EIN 94-1439553)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-11-12
- IRS object ID
- 202433179349306693
- Schema version
- 2023v5.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-11-12T15:12:04-06:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 420714325 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RSM US LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4650 EAST 53RD STREET | AddressLine1Txt |
| City | DAVENPORT | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 528073479 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 941439553 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | VALLEY FIRST CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | VALL | BusinessNameControlTxt |
| Phone | 2095498500 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1005 W ORANGEBURG AVENUE | AddressLine1Txt |
| City | MODESTO | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 95350 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | MARY ROBERTS | PersonNm |
| Person Title | CHIEF FINANCIAL OFFICER | PersonTitleTxt |
| Phone | 2095498500 | PhoneNum |
| Signature | 2024-11-12 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | JENIFER L CHASE | PreparerPersonNm |
| PTIN | P01306883 | PTIN |
| Phone | 5638884000 | PhoneNum |
| Preparation | 2024-11-12 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-10-15 13:58:12Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | KATHRYN DAVIS | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1005 W ORANGEBURG AVENUE | AddressLine1Txt |
| City | MODESTO | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 95350 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $57,260,903 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.VALLEYFIRSTCU.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1949 | FormationYr |
| Legal Domicile State | CA | LegalDomicileStateCd |
| Activity Or Mission | PROVIDE SUPERIOR SERVICE TO OUR MEMBERS AND COMMUNITY | ActivityOrMissionDesc |
| Voting Members Governing Body | 7 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 208 | TotalEmployeeCnt |
| Total Volunteers | 12 | TotalVolunteersCnt |
| Total Gross UBI | $203,368 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $3,239,444 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $37,053,937 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $49,781,547 | CYProgramServiceRevenueAmt |
| PY Investment Income | $3,051,516 | PYInvestmentIncomeAmt |
| CY Investment Income | $4,165,506 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $40,105,453 | PYTotalRevenueAmt |
| CY Total Revenue | $57,186,497 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $94,642 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $208,176 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $12,712,230 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $15,157,228 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $17,929,136 | PYOtherExpensesAmt |
| CY Other Expenses | $32,406,365 | CYOtherExpensesAmt |
| PY Total Expenses | $30,736,008 | PYTotalExpensesAmt |
| CY Total Expenses | $47,771,769 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $9,369,445 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $9,414,728 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $964,187,226 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,019,297,447 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $888,224,752 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $935,538,521 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $75,962,474 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $83,758,926 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | WORKING TOGETHER TO PROVIDE SUPERIOR SERVICE FOR OUR MEMBERS AND COMMUNITY | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | AS A STATE-CHARTERED CREDIT UNION, VALLEY FIRST CREDIT UNION (THE CREDIT UNION) PROVIDES LOANS TO MEMBERS AT REDUCED INTEREST RATES AS COMPARED TO COMPETITORS. IN GENERAL, THE CREDIT CRITERIA ARE LESS STRINGENT, LOAN RATES ARE LOWER, AND A HIGHER LEVEL OF LOAN COVERAGE IS PROVIDED. AS OF 12/31/2023, THE CREDIT UNION HAD $744.7 MILLION IN OUTSTANDING LOAN BALANCES AND MORE THAN 78,000 MEMBERS. AS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION AND A LOW INCOME DESIGNATED CREDIT UNION, VALLEY FIRST CREDIT UNION IS CHARGED WITH GENERATING ECONOMIC GROWTH AND OPPORTUNITY IN ECONOMICALLY DISADVANTAGED COMMUNITIES WITH PROGRAMS THAT INJECT NEW SOURCES OF CAPITAL INTO NEIGHBORHOODS THAT LACK ACCESS TO FINANCING. MORE THAN 60% OF OUR LOANS ARE DONE IN COMMUNITIES WHERE MORE THAN HALF OF THE HOUSEHOLDS HAVE INCOMES BELOW 60% OF THE AREA INCOME OR THE POVERTY RATE IS AT 25% OR HIGHER. 45% OF OUR TOTAL LOAN PORTFOLIO IS TO HISPANIC/LATINO BORROWERS. AT THE CORE OF OUR MISSION LIES A FIRM BELIEF IN PRIORITIZING PEOPLE OVER PROFITS AND GIVING BACK TO OUR COMMUNITIES. IN 2023, VALLEY FIRST PROVIDED OVER $201.0 MILLION IN FINANCING FOR OUR COMMUNITY, INCLUDING OVER $21.0 MILLION IN AFFORDABLE HOME LOANS FOR FAMILIES. 60% OF OUR SBA FUNDING WAS PROVIDED TO MINORITY AND WOMEN-OWNED BUSINESSES AND WE GENERATED $3.3 MILLION IN ECONOMIC DEVELOPMENT WITHIN OUR COMMUNITIES AS A RESULT OF OUR LENDING EFFORTS. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | VALLEY FIRST CREDIT UNION (THE CREDIT UNION) PROVIDES A SAFE PLACE FOR OUR COMMUNITY TO SAVE THEIR MONEY VIA A VARIETY OF SAVINGS AND INVESTMENT PRODUCTS/SERVICES. WE PAY HIGHER DIVIDEND RATES THAN OUR COMPETITORS AND OFFER MANY SHORT AND LONG-TERM SAVINGS OPTIONS. AT 12/31/23, THE CREDIT UNION HAD 141,281 SHARE ACCOUNTS WITH BALANCES TOTALING OVER $780,109,602. IN 2023, WE GAVE BACK $5,035,620 IN MEMBER DIVIDENDS AND $706,758 IN VARIOUS MEMBER INCENTIVES AND REWARDS AS A RESULT OF BANKING WITH US. WE ALSO WAIVED ALL FEES ON SMALL BUSINESS DEPOSIT PRODUCTS AS A WAY TO HELP OUT OUR SMALL BUSINESS COMMUNITY STILL RECOVERING FROM THE IMPACT OF COVID-19. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | VALLEY FIRST CREDIT UNION (THE CREDIT UNION) INVESTS SIGNIFICANT TIME AND RESOURCES TO HELP THE COMMUNITIES WE SERVE THRIVE THROUGH FINANCIAL, EDUCATIONAL, AND VOLUNTEER SUPPORT. IN 2023, THE CREDIT UNION PROVIDED FINANCIAL EDUCATION TO 4,131 MEMBERS OF OUR COMMUNITY AND REACHED OVER 300 SCHOOL-AGED CHILDREN WITH ITS YOUTH FINANCIAL EDUCATION PROGRAMS. THE CREDIT UNION ALSO PROVIDED FREE CERTIFIED FINANCIAL COUNSELOR SERVICES THAT FOCUSED ON PERSONAL FINANCE FOR THE FIRST TIME IN 2023. HELPING OUR MEMBERS MAKE SMART FINANCIAL CHOICES WITH ONLINE AND IN-PERSON SUPPORT RESULTED IN HELPING 8,891 MEMBERS MAKE AN INFORMED LOAN DECISION, 1,850 MEMBERS NAVIGATE A LOAN DEFERRAL, AND 6,613 MEMBERS INCREASE THEIR CREDIT SCORE. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | Yes (1) | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (1) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | Yes (1) | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | Yes (1) | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 8485 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 208 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 7 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 7 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | 0 | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | CA | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MARY ROBERTS | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2095498500 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1005 W ORANGEBURG AVENUE | AddressLine1Txt |
| City | MODESTO | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 95350 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (17 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| FRED CRUZ | ||||||||
| VICE CHAIR | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| PATTI GILLIHAN | ||||||||
| SECRETARY AND TREASURER | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| GARY HALL | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| TOM KANE | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| CHRIS PETERSON | ||||||||
| CHAIR | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| JOHN SCHNEIDER | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| TAMRA SPADE | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| KATHRYN DAVIS | ||||||||
| PRESIDENT & CEO | 50.00 | Yes (X) | $661,885 | $0 | $62,421 | |||
| TODD MCCOY | ||||||||
| CHIEF FINANCIAL OFFICER | 45.00 | Yes (X) | $212,464 | $0 | $33,554 | |||
| COURTNAY LYNCH | ||||||||
| VP, PEOPLE & CULTURE | 50.00 | $176,756 | $0 | $32,949 | Yes (X) | |||
| CHRIS HEWITT | ||||||||
| VP, OPS & DIGITAL STRATEGY | 45.00 | $212,041 | $0 | $38,927 | Yes (X) | |||
| PAUL EMANUELS | ||||||||
| VP, LENDING | 45.00 | $195,993 | $0 | $18,990 | Yes (X) | |||
| ANDREA BROOKS | ||||||||
| CHIEF RISK OFFICER | 50.00 | $197,619 | $0 | $33,152 | Yes (X) | |||
| CHRIS BRAUN | ||||||||
| VP, PAYMENTS | 45.00 | $211,274 | $0 | $42,876 | Yes (X) | |||
| BYRON MILLER | ||||||||
| VP, TECHNOLOGY | 45.00 | $206,014 | $0 | $32,710 | Yes (X) | |||
| RAYMOND MCCASLIN | ||||||||
| VP, COMMERCIAL BANKING | 45.00 | $172,829 | $0 | $31,265 | Yes (X) | |||
| UNJI FROMMOETHELYDO | ||||||||
| SR NETWORK ENGINEER | 40.00 | $130,179 | $0 | $15,570 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $2,377,054 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $342,414 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 13 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| PRESIDIO NETWORKED SOLUTIONS GROUP LLC | |||||
| 12100 SUNSET HILLS ROAD SUITE 300 | RESTON | VA | 20190 | INTEL PROCESSOR, DATA MIGRATION | $1,458,535 |
| Q2 SOFTWARE INC | |||||
| 10355 PECAN PARK BOULEVARD | AUSTIN | TX | 78729 | HOME BANKING | $806,238 |
| JACK HENRY & ASSOCIATES INC | |||||
| PO BOX 609 | MONETT | MO | 65708 | CORE SYSTEM | $763,741 |
| FINANCIAL TECH SOLUTIONS INTERNATIONAL ( | |||||
| 406 EAST HUNTINGTON DRIVE SUITE 10 | MOROVIA | CA | 91016 | ATM AND BRANCH SERVICES | $695,801 |
| CHRISTIE POWELL | |||||
| 7652 BRIDGEVIEW DR | SACRAMENTO | CA | 95831 | ADMIN BUILDING REMODEL | $156,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 32 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $3,239,444 | GovernmentGrantsAmt |
| Total Contributions | $3,239,444 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| INTEREST FROM LOANS | 522100 | $37,456,776 | $37,456,776 | |
| FEES & CHARGES | 522100 | $6,482,102 | $6,278,734 | $203,368 |
| MERCHANT CARD & OTHER NETWORK INC | 522100 | $3,912,073 | $3,912,073 | |
| OTHER NONINTEREST INCOME | 522100 | $1,930,596 | $1,930,596 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $49,781,547 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $4,165,892 | TotalRevenueColumnAmt |
| Exclusion | $4,165,892 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $74,020 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $74,406 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | -$386 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$386 | TotalRevenueColumnAmt |
| Exclusion | -$386 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $57,186,497 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $49,578,179 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $203,368 | UnrelatedBusinessRevenueAmt |
| Exclusion | $4,165,506 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $208,176 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,645,980 | TotalAmt |
Comp Disqual Persons CompDisqualPersonsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $44,063 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,654,140 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $831,256 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,112,250 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $869,539 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $182,629 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $360,716 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,563,508 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,443,386 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,709,200 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,664,688 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,682,868 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $329,064 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,557,994 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $142,974 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| DIVIDENDS PAID TO MEMBE | $10,258,067 |
| PROVISION FOR LOAN LOSS | $6,445,734 |
| LOAN/BANKING SERVICES | $910,934 |
| ASSOCIATION DUES | $81,033 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $73,570 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $47,771,769 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,610,938 | BOYAmt |
| EOY | $42,520,324 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $20,085,013 | BOYAmt |
| EOY | $33,523,309 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,862,756 | BOYAmt |
| EOY | $15,719,779 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,400,045 | BOYAmt |
| EOY | $12,478,200 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $718,449,303 | BOYAmt |
| EOY | $734,651,567 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,339,266 | BOYAmt |
| EOY | $2,579,765 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $39,874,403 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $24,615,254 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,419,673 | BOYAmt |
| EOY | $15,259,149 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $152,907,988 | BOYAmt |
| EOY | $145,921,542 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $29,112,244 | BOYAmt |
| EOY | $16,643,812 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $964,187,226 | BOYAmt |
| EOY | $1,019,297,447 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,371,389 | BOYAmt |
| EOY | $16,006,798 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $81,000,000 | BOYAmt |
| EOY | $118,000,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $794,853,363 | BOYAmt |
| EOY | $801,531,723 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $888,224,752 | BOYAmt |
| EOY | $935,538,521 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $75,962,474 | BOYAmt |
| EOY | $83,758,926 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $75,962,474 | BOYAmt |
| EOY | $83,758,926 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $964,187,226 | BOYAmt |
| EOY | $1,019,297,447 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $9,414,728 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $1,656,974 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$3,275,250 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Political Expenditures | $8,539 | PoliticalExpendituresAmt |
| Internal Funds Contributed | $8,539 | InternalFundsContributedAmt |
| Total Exempt Function Expend | $8,539 | TotalExemptFunctionExpendAmt |
| Form1120 POL Filed | Yes (1) | Form1120POLFiledInd |
Section527 Political Org Section527PoliticalOrgGrp
Organization Business Name OrganizationBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CALIFORNIA CREDIT UNION LEAGUE | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1201 K STREET SUITE 1050 | AddressLine1Txt |
| City | SACRAMENTO | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 95814 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 910357265 | EIN |
| Paid Internal Funds | $8,539 | PaidInternalFundsAmt |
| Contributions Rcvd Dlvr | $0 | ContributionsRcvdDlvrAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I-A, LINE 1: | FormAndLineReferenceDesc |
| Explanation | VALLEY FIRST CREDIT UNION MAKES FINANCIAL CONTRIBUTIONS TO CALIFORNIA CREDIT UNION LEAGUE PAC TO SUPPORT CREDIT UNION ISSUES. | ExplanationTxt |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,754,982 | OtherCostOrOtherBasisAmt |
| Book Value | $1,754,982 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $6,384,240 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,124,900 | DepreciationAmt |
| Book Value | $3,259,340 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $10,016,554 | OtherCostOrOtherBasisAmt |
| Depreciation | $6,665,870 | DepreciationAmt |
| Book Value | $3,350,684 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $20,728,701 | OtherCostOrOtherBasisAmt |
| Depreciation | $14,824,484 | DepreciationAmt |
| Book Value | $5,904,217 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $989,926 | OtherCostOrOtherBasisAmt |
| Book Value | $989,926 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $15,259,149 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp (3 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| AVAILABLE FOR SALE SECURITIES | $134,991,604 | F |
| HELD-TO-MATURITY DEBT SECURITIES | $6,494,000 | F |
| OTHER SECURITIES | $4,435,938 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $145,921,542 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MEMBER SHARES | Desc |
| Amt | $801,531,723 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $801,531,723 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $57,186,497 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $57,186,497 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $57,186,497 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $47,771,769 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $47,771,769 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $47,771,769 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | VALLEY FIRST CREDIT UNION (THE CREDIT UNION) IS EXEMPT, BY STATUTE, FROM FEDERAL INCOME TAXES. FASB ASC TOPIC 740, INCOME TAXES, PROVIDES GUIDANCE FOR HOW UNCERTAIN TAX POSITIONS SHOULD BE RECOGNIZED, MEASURED, DISCLOSED AND PRESENTED IN THE FINANCIAL STATEMENTS. THIS REQUIRES THE EVALUATION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN BY THE CREDIT UNION, WHICH DETERMINE WHETHER THE TAX POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED "WHEN CHALLENGED OR "WHEN EXAMINED" BY THE APPLICABLE TAX AUTHORITY. TAX POSITIONS NOT DEEMED TO MEET THE MORE-LIKELY-THAN-NOT THRESHOLD WOULD BE RECORDED AS TAX EXPENSE AND LIABILITY IN THE CURRENT YEAR. AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022, MANAGEMENT HAD DETERMINED THAT THERE WERE NO MATERIAL UNCERTAIN TAX POSITIONS REQUIRING RECOGNITION IN THE FINANCIAL STATEMENTS. | ExplanationTxt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (8 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|
| CENTRAL VALLEY HISPANIC CHAMBER OF COMMERCE | ||||||||
| PO BOX 3113 | MODESTO | CA | 95353 | 943327906 | 501(C)(6) | $8,000 | $0 | GENERAL SUPPORT |
| CITY MINISTRY NETWORK | ||||||||
| 820 H STREET 2 | MODESTO | CA | 95354 | 260100683 | 501(C)(3) | $17,500 | $0 | GENERAL SUPPORT |
| CLOVIS RODEO ASSOCIATION | ||||||||
| PO BOX 445 | CLOVIS | CA | 93613 | 454149661 | 501(C)(3) | $5,200 | $0 | GENERAL SUPPORT |
| OPPORTUNITY STANISLAUS | ||||||||
| 1625 I STREET | MODESTO | CA | 95354 | 205186517 | 501(C)(3) | $25,000 | $0 | GENERAL SUPPORT |
| TRACY CITY CENTER ASSOCIATION | ||||||||
| 17 E 6TH STREET | TRACY | CA | 95376 | 371605304 | 501(C)(3) | $15,000 | $0 | GENERAL SUPPORT |
| MODESTO CHILDRENS MUSEUM | ||||||||
| 928 11ST STREET | MODESTO | CA | 95354 | 842442152 | 501(C)(3) | $50,000 | $0 | GENERAL SUPPORT |
| STANISLAUS COMMUNITY FOUNDATION | ||||||||
| 100 SYCAMORE AVE 200 | MODESTO | CA | 95354 | 680483054 | 501(C)(3) | $6,000 | $0 | GENERAL SUPPORT |
| UNITED WAY OF STANISLAUS COUNTY | ||||||||
| PO BOX 3066 | MODESTO | CA | 95353 | 941212129 | 501(C)(3) | $5,753 | $0 | GENERAL SUPPORT |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 7 | Total501c3OrgCnt |
| Total Other Org | 1 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | VALLEY FIRST CREDIT UNION ISSUES FUNDS TO ORGANIZATIONS TO BE USED AT THEIR DISCRETION. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Club Dues Or Fees | Yes (X) | ClubDuesOrFeesInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (9 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| KATHRYN DAVIS | ||||||||||||||
| PRESIDENT & CEO | $498,462 | $0 | $142,600 | $0 | $20,823 | $0 | $30,000 | $0 | $32,421 | $0 | $724,306 | $0 | $0 | $0 |
| CHRIS BRAUN | ||||||||||||||
| VP, PAYMENTS | $187,711 | $0 | $22,734 | $0 | $829 | $0 | $10,314 | $0 | $32,562 | $0 | $254,150 | $0 | $0 | $0 |
| CHRIS HEWITT | ||||||||||||||
| VP, OPS & DIGITAL STRATEGY | $172,890 | $0 | $32,348 | $0 | $6,803 | $0 | $9,164 | $0 | $29,763 | $0 | $250,968 | $0 | $0 | $0 |
| TODD MCCOY | ||||||||||||||
| CHIEF FINANCIAL OFFICER | $201,799 | $0 | $10,000 | $0 | $665 | $0 | $10,690 | $0 | $22,864 | $0 | $246,018 | $0 | $0 | $0 |
| BYRON MILLER | ||||||||||||||
| VP, TECHNOLOGY | $177,681 | $0 | $22,539 | $0 | $5,794 | $0 | $0 | $0 | $32,710 | $0 | $238,724 | $0 | $0 | $0 |
| ANDREA BROOKS | ||||||||||||||
| CHIEF RISK OFFICER | $189,329 | $0 | $110 | $0 | $8,180 | $0 | $9,833 | $0 | $23,319 | $0 | $230,771 | $0 | $0 | $0 |
| PAUL EMANUELS | ||||||||||||||
| VP, LENDING | $166,860 | $0 | $22,430 | $0 | $6,703 | $0 | $9,715 | $0 | $9,275 | $0 | $214,983 | $0 | $0 | $0 |
| COURTNAY LYNCH | ||||||||||||||
| VP, PEOPLE & CULTURE | $151,243 | $0 | $22,205 | $0 | $3,308 | $0 | $8,171 | $0 | $24,778 | $0 | $209,705 | $0 | $0 | $0 |
| RAYMOND MCCASLIN | ||||||||||||||
| VP, COMMERCIAL BANKING | $149,316 | $0 | $16,788 | $0 | $6,725 | $0 | $1,813 | $0 | $29,452 | $0 | $204,094 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 1A | FormAndLineReferenceDesc |
| Explanation | IN 2023, VALLEY FIRST CREDIT UNION PROVIDED SOCIAL CLUB DUES TO KATHRYN DAVIS TO DISCUSS ISSUES WITH MEMBERS, STAFF, AND PEERS. THE AMOUNTS PAID FOR SOCIAL DUES ARE NOT INCLUDED IN REPORTABLE COMPENSATION. | ExplanationTxt |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | KATHRYN DAVIS | PersonNm |
| Relationship With Org | OFFICER | RelationshipWithOrgTxt |
| Loan Purpose | COLLATERAL ASSIGNED SPLIT-DOLLAR LIFE INSURANCE POLICY | LoanPurposeTxt |
| Loan From Organization | Yes (X) | LoanFromOrganizationInd |
| Original Principal | $12,300,000 | OriginalPrincipalAmt |
| Balance Due | $12,478,200 | BalanceDueAmt |
| Default | 0 | DefaultInd |
| Board Or Committee Approval | Yes (1) | BoardOrCommitteeApprovalInd |
| Written Agreement | Yes (1) | WrittenAgreementInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $12,478,200 | TotalBalanceDueAmt |
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp
Name Of Interested NameOfInterested
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | KYLE HEWITT | PersonNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship Description | FAMILY MEMBER OF CHRIS HEWITT | RelationshipDescriptionTxt |
| Transaction | $44,063 | TransactionAmt |
| Transaction | COMPENSATION | TransactionDesc |
| Sharing Of Revenues | 0 | SharingOfRevenuesInd |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | VALLEY FIRST CREDIT UNION HAS MEMBERS AS SPECIFIED IN ITS BYLAWS. |
| FORM 990, PART VI, SECTION A, LINE 7A | VALLEY FIRST CREDIT UNION MEMBERS HAVE THE POWER TO ELECT THE MEMBERS OF THE GOVERNING BODY. |
| FORM 990, PART VI, SECTION A, LINE 8B | VALLEY FIRST CREDIT UNION DOES NOT HAVE COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE COMPLETED FORM 990 IS REVIEWED BY THE CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER. A COPY IS ALSO PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. |
| FORM 990, PART VI, SECTION B, LINE 12C | VALLEY FIRST CREDIT UNION'S CONFLICT OF INTEREST POLICY IS DIRECTED AT THE VALLEY FIRST CREDIT UNION BOARD OF DIRECTORS, SUPERVISORY COMMITTEE, VALLEY FIRST CREDIT UNION VOLUNTEERS, AND EMPLOYEES. A CONFLICT OF INTEREST OCCURS WHEN A MEMBER'S PERSONAL INTEREST INTERFERES, OR APPEARS TO INTERFERE, WITH THE INTERESTS OF THE CREDIT UNION. IN CONNECTION WITH ANY POTENTIAL CONFLICT, THE BOARD, WITH THE ABSTENTION OR ABSENCE OF THE MEMBER, WILL DECIDE WHETHER THAT MEMBER MAY PARTICIPATE IN ANY REPORTING OR DISCUSSION ON THE ISSUE THAT GAVE RISE TO THE CONFLICT OF INTEREST. THE BOARD SHALL WITHHOLD ANY INFORMATION ON SUCH ISSUES FROM THE BOARD MATERIALS DISTRIBUTED TO THE APPLICABLE MEMBER AND TAKE ALL SUCH OTHER ACTION NECESSARY TO EFFECTUATE THIS POLICY. ALL DECISIONS REGARDING SUCH MATTERS REQUIRE THAT A QUORUM OF THE BOARD OF DIRECTORS BE PRESENT FOR RATIFICATION. ANY MEMBER WITH SUCH AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST SHALL RECUSE HIMSELF OR HERSELF FROM ANY REPORTING, DISCUSSIONS, AND VOTE ON THE ISSUE THAT GAVE RISE TO THE CONFLICT AND, IF NECESSARY, FROM THE BOARD MEETING, OR APPLICABLE PART THEREOF. ON AN ANNUAL BASIS ALL DIRECTORS OR TRUSTEES, AND KEY EMPLOYEES ARE REQUIRED TO DISCLOSE INTERESTS THAT COULD GIVE RISE TO CONFLICTS BY SIGNING THE CONFLICT OF INTEREST POLICY. |
| FORM 990, PART VI, SECTION B, LINE 15 | VALLEY FIRST CREDIT UNION'S EXECUTIVE COMPENSATION COMMITTEE HAS RETAINED D. HILTON ASSOCIATES AS ITS COMPENSATION CONSULTANT TO ADVISE THE EXECUTIVE COMPENSATION COMMITTEE ON MARKET PRACTICES AND SPECIFIC CREDIT UNION POLICIES AND PROGRAMS. D. HILTON ASSOCIATES PERFORMS THE FOLLOWING ACTIVITIES IN DETERMINING CHIEF EXECUTIVE OFFICER AND OTHER KEY EMPLOYEES COMPENSATION OF THE ORGANIZATION. D. HILTON REPORTS DIRECTLY TO THE COMPENSATION COMMITTEE CHAIRMAN AND TAKES DIRECTION FROM THE COMMITTEE ON PRESIDENT/CHIEF EXECUTIVE OFFICER AND KEY EMPLOYEE EXECUTIVE COMPENSATION MATTERS. THE CONSULTANT'S WORK FOR THE COMMITTEE INCLUDES COMPARABLE COMPENSATION DATA ANALYSES, MARKET ASSESSMENTS, AND PREPARATION OF RELATED REPORTS. THE WORK DONE BY D. HILTON ASSOCIATES FOR THE COMMITTEE IS DOCUMENTED IN A FORMAL AGREEMENT THAT IS EXECUTED BY THE CONSULTANT AND THE COMMITTEE. THE LAST TIME THIS PROCESS OCCURRED WAS IN MARCH 2024. |
| FORM 990, PART VI, SECTION C, LINE 19 | VALLEY FIRST CREDIT UNION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST IN THE SAME TIME AND MANNER AS OTHER DISCLOSURES REQUIRED UNDER INTERNAL REVENUE CODE SECTION 6104. |
| FORM 990, PART XI, LINE 9: | CURRENT EXPECTED CREDIT LOSS IMPLEMENTATION -3,275,250. |
| FORM 990, PART XII, LINE 2C: | THE OVERSIGHT AND SELECTION PROCESS HAS NOT CHANGED FROM THE PRIOR TAX YEAR. |