Overview
What is Valleystar Credit Union?
Valleystar Credit Union is a member-owned financial cooperative based in Martinsville, Virginia. With 194 employees, they focus on returning excess earnings to their members through better deposit and loan rates, as well as lower fees. Valleystar's community involvement is notable, with volunteers and employees playing significant roles. They offer less expensive loan products and higher deposit account rates compared to other financial institutions, making them a popular choice for members. The credit union's primary mission is to benefit all its members equally and ensure each member has an equal vote.
Official website here: www.valleystar.org
Is Valleystar Credit Union legitimate?
Valleystar Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Valleystar Credit Union submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are not tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $2,502,413
Professional Fundraising Fees: $0
Other Salaries and Wages: $6,117,964
For more financial information, click here
What is the mission statement of Valleystar Credit Union?
Valleystar Credit Union is a member-owned financial cooperative where excess earnings are returned to all members, resulting in better deposit and loan rates, and lower fees. The primary objective of Valleystar Credit Union is to ensure equitable benefits for all members. As a financial cooperative, every member holds an equal vote. The organization's accomplishments include offering less expensive loan products, higher savings account rates, and reduced fees. Valleystar Credit Union is deeply committed to community involvement through the efforts of volunteers and employees. Additionally, the union provides financial education to its members.
Official website here: www.valleystar.org
Who is the CEO of Valleystar Credit Union?
Michael Warrell is the Director & Treasurer of Valleystar Credit Union. The CEO's salary of Valleystar Credit Union is $324,895 and their total compensation is $324,895.
Official website here: www.valleystar.org
What is the revenue of Valleystar Credit Union?
Valleystar Credit Union's revenue in 2022 was $35,715,444.
Official website here: www.valleystar.org
Who are the executives of Valleystar Credit Union and what are their salaries?
The average compensation at Valleystar Credit Union during 2022 was $44,435. There are 194 employees at Valleystar Credit Union.
Here are 34 key members and their salaries (Valleystar Credit Union's CEO's salary is $324,895 and their total compensation is $324,895):
- Michael Warrell (President/Ceo)
- Kevin B Laine (Executive Vice President)
- Robert Sparrow (Chief Risk Officer)
- Justin Barnes (Chief Lending Officer)
- Mendy Shaffer (Cfo)
- Angela Davis (Svp Coo)
- Rebecca Freemal (Chief Marketing And Comm Officer)
- John Hudson (Vp Of Comsumer Lending)
- Benjamin Mcbride (Senior Vp Of It)
- Elliot Kuelz (Vp Of Commercial Lending)
- Leslie Rakes (Svp Of Human Resources)
- Jordan Weatherholtz (Vp Of Data Analytics)
- Robert Brown (Vp Of Organizational Development)
- Sheila Ratliff (Vp Of Mortgage Lending)
- Stephanie Potter (Vp Of Brand)
- Robert Turner (Vp Of Facilities And Security)
- Misty Reed (Svp Of Credit Admin)
- William Reynolds (Svp Cfo)
- Cheryl Spence (Svp Cio)
- Jennifer Murphy (Vp Of Mortgage Lending)
- Gregory W Hill (Director & Legislative Rep)
- Norman W Hill (Director)
- G Steve Isley (Director & Vice Chairman)
- Douglas W Nunn (Director)
- Nancy S Phillips (Director)
- Betty Jo Ray (Director & Secretary)
- James B Rorrer (Director & Chairman)
- Terry A Young (Director)
- David L Deal (Director & Treasurer)
- Jason Vipperman (Supervisory Committee) [Trustee/Director]
- Tyel Banks (Supervisory Committee) [Trustee/Director]
- Sandy Strayer (Supervisory Committee) [Trustee/Director]
- Michael B Bryant (Director)
- Richard L Wood (Director Emeritus)
Official website here: www.valleystar.org
Where can I find the form 990 for Valleystar Credit Union?
The Valleystar Credit Union’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.valleystar.org
Learn more at the official website: www.valleystar.org
Mission Statement of Valleystar Credit Union
Valleystar Credit Union, a member-owned financial cooperative, strives to return excess earnings to all its members in the form of better deposit and loan rates, as well as lower fees. This mission is rooted in the cooperative's primary exempt purpose, ensuring that all members benefit equally and have an equal vote.
Valleystar Credit Union prides itself on offering less expensive loan products compared to other financial institutions and providing higher deposit account rates for its members. These advantages, along with lower fees, set the organization apart from traditional banking institutions. The cooperative's commitment to its members goes beyond financial benefits, as it involves strong community involvement through volunteers and employees.
Valleystar Credit Union's dedication to its members' well-being extends to financial education. By providing financial literacy resources and opportunities, the organization empowers its members to make informed decisions about their finances. This focus on education contributes to the long-term financial health and stability of the Credit Union's membership base.
Valleystar Credit Union's member-centric approach sets it apart in the financial services industry. Through its mission to return excess earnings to its members, the Credit Union operates as a not-for-profit organization, with all profits being reinvested back into the organization and its members. This unique business model fosters a sense of unity and mutual support within the Credit Union community.
Impact
This information is meant to be a general summary of Valleystar Credit Union. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
Valleystar Credit Union's impact is significant in Martinsville, VA, and beyond. By returning excess earnings to all its members through better deposit and loan rates as well as lower fees, Valleystar Credit Union contributes to the financial well-being of its community. This cooperative model ensures that all members benefit equally and have a voice in the credit union's operations. Valleystar Credit Union also stands out for offering less expensive loan products compared to other financial institutions, higher deposit rates, and actively engaging in financial education programs. Through strong community involvement by volunteers and employees, Valleystar Credit Union plays a vital role in supporting the local economy and promoting financial literacy.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST
Revenue
$25,545,227
Organization Details
Founding Year
1953
Phone
(276) 632-1679
Principal Officer
Michael Warrell
Main Address
P O BOX 5511, MARTINSVILLE, VA, 24115
Website
www.valleystar.org
NTEE Category
Code: W60 - Public benefit
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