Volunteer Corporate Credit Union
501(c)(14)
100% goes to programs Strong reserves Growing revenue
Volunteer Corporate Credit Union is a 501(c)(14) organization based in Nashville, Tennessee, registered in 1952, with $118,810,831 in FY2023 revenue. CharityIndex grades it B+, and it directs about 100% of spending to programs.
2460 Atrium Way, Nashville, TN, 37214 EIN 62-1120233 Since 1952
Revenue (FY2023)
$118.8M
▲ 50.6% vs prior year
Expenses (FY2023)
$98.2M
Net assets
$158.6M
Employees
70
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B+
C+Program efficiency40% of the rating100% to programs
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Volunteer Corporate Credit Union: 100% to programs earns a C+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating19 mo reserves · +17% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Volunteer Corporate Credit Union: 19 mo reserves · +17% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Volunteer Corporate Credit Union: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Volunteer Corporate Credit Union: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
Inspiring credit unions to reach new heights by providing dynamic payment solutions, custom investment services, and unparalleled member service.
Contact & location
Financial trends
Revenue grew from $11.9M (FY2013) to $118.8M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $1.7BNet assets $158.6M
Operating margin
17.3%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$1.8B
Total liabilities
$1.7B
Net assets
$158.6M
Salaries & benefits
$9.6M
10% of expenses
Board members
9
9 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $118,810,831▲50.6% | $98,234,687▲87.9% | $158,616,513▲18.6% | $1,830,519,716▲18.4% | 990 |
| 2022 | $78,897,689▲58.0% | $52,267,070▲161% | $133,720,614▲3.3% | $1,546,022,853▼35.7% | 990 |
| 2021 | $49,925,746▲139% | $20,016,290▲16.6% | $129,505,981▲17.1% | $2,404,399,500▼3.9% | 990 |
| 2020 | $20,915,133▼48.3% | $17,162,795▼48.9% | $110,629,185▲6.0% | $2,500,981,054▲86.7% | 990 |
| 2019 | $40,461,745▲18.0% | $33,585,001▲21.7% | $104,337,878▲7.8% | $1,339,904,120▲10.5% | 990 |
| 2018 | $34,288,326▲42.8% | $27,588,771▲50.2% | $96,811,694▲4.4% | $1,212,932,507▼9.0% | 990 |
| 2017 | $24,010,773▲32.5% | $18,370,849▲42.3% | $92,758,891▲6.4% | $1,333,105,498▼1.0% | 990 |
| 2016 | $18,119,218▲27.3% | $12,905,580▲12.0% | $87,150,720▲6.6% | $1,346,419,914▲1.1% | 990 |
| 2015 | $14,234,652▲16.0% | $11,523,878▲6.9% | $81,785,028▲0.2% | $1,331,821,870▲9.1% | 990 |
| 2014 | $12,271,724▲3.3% | $10,780,980▲10.2% | $81,624,601▲7.4% | $1,220,835,970▲19.4% | 990 |
| 2013 | $11,874,444 | $9,787,184▼17.8% | $76,027,021▼0.5% | $1,022,322,909▼13.4% | 990 |
| 2012 | — | $11,913,269▲6.6% | $76,405,108▲23.9% | $1,179,925,197▼2.7% | 990 |
| 2011 | — | $11,177,652▼20.0% | $61,680,117▲4.8% | $1,212,770,016▼10.3% | 990 |
| 2010 | — | $13,976,251 | $58,855,275 | $1,351,696,022 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: Jeffrey Merry — $633,776 (0.65% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Jeffrey Merry | President/ceo | 40 | $633,776 |
| Phillip Cochran | Svp/chief Investment Offic | 40 | $423,645 |
| Jeffrey Dato | Evp/coo | 40 | $304,737 |
| Ben Williams | Vp It Strategic Projects | 40 | $212,412 |
| Christina Adkison | Chief Experience Officer | 40 | $206,548 |
| Justin Holt | Chief Financial Officer | 40 | $202,766 |
| Larry Wade Stapleton | Vp, Marketing and Communic | 40 | $153,576 |
| Josh Yates | Director Software Development | 40 | $153,052 |
| Jeff Cantrell | Vp Information Technology | 40 | $131,714 |
| Bradley Arant Boult Cummings LLP | General Counsel | 1 | — |
| Brian Trotter | Director | 1 | — |
| Debbie Jones | Director | 1 | — |
| Erin Walter | Director | 1 | — |
| John Jacoway | Chairman | 1 | — |
| Judy Hester | Director | 1 | — |
| Mike Cooper | Secretary | 1 | — |
| Rick Mikels | Director | 1 | — |
| Ron Smith | Treasurer | 1 | — |
| Todd Swims | Vice Chairman | 1 | — |
Frequently asked questions
- Is Volunteer Corporate Credit Union a legitimate nonprofit?
- Yes. Volunteer Corporate Credit Union is a 501(c)(14) organization registered with the U.S. Internal Revenue Service under EIN 62-1120233, based in Nashville, Tennessee.
- What is Volunteer Corporate Credit Union's EIN?
- Volunteer Corporate Credit Union's Employer Identification Number (EIN) is 62-1120233.
- How much revenue does Volunteer Corporate Credit Union report?
- Volunteer Corporate Credit Union reported $118,810,831 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Volunteer Corporate Credit Union's spending goes to programs?
- Volunteer Corporate Credit Union spends about 100% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Volunteer Corporate Credit Union have?
- CharityIndex grades Volunteer Corporate Credit Union B+, based on program efficiency and fundraising cost.
- How much does Volunteer Corporate Credit Union's highest-paid employee make?
- The highest reported compensation on Volunteer Corporate Credit Union's latest Form 990 is $633,776, paid to Jeffrey Merry (President/ceo).
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Data for Volunteer Corporate Credit Union (EIN 62-1120233) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.