Civic Intelligence

Valley Oak Credit Union

EIN 94-1384575 • 501(c)14 • Three Rivers, CA

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Profile

Provided deposit and loan accounts to 6,021 members. Provided low cost source of credit and low cost financial services to our members. Provided source for member savings and checking account needs.

40870 Sierra DriveThree Rivers, CA 93271

www.valleyoak.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

95th percentile

0.93x

Higher debt load relative to assets than 95% of similar nonprofits.

501(c)14 • $50M-$100M nonprofits • Source year 2024

Liabilities / Revenue

58th percentile

17.78x

Higher debt load relative to revenue than 58% of similar nonprofits.

501(c)14 • $50M-$100M nonprofits • Source year 2024

Net Margin

9th percentile

-4.4%

Higher net margin than 9% of similar nonprofits.

501(c)14 • $50M-$100M nonprofits • Source year 2024

Top Officer Pay

39th percentile

$147,269

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 3.6% of source-year revenue.

$50M-$100M nonprofits • Source year 2024

Asset Growth

46th percentile

-0.2%

Faster asset growth than 46% of similar nonprofits.

501(c)14 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Revenue Growth

36th percentile

8.1%

Faster revenue growth than 36% of similar nonprofits.

501(c)14 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$78,163,678

Down $120,705 (-0.2%) from 2023

Liabilities

Down

$72,925,398

Down $17,296 (-0.0%) from 2023

Net Assets

Down

$5,238,280

Down $103,409 (-1.9%) from 2023

Operations
Liabilities / Revenue58th percentileNet Margin9th percentile

Revenue

Up

$4,101,428

Up $308,255 (+8.1%) from 2023

Expenses

Up

$4,283,435

Up $660,365 (+18%) from 2023

Net Income

Down

-$182,007

Down $352,110 (-207%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth46th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$80M$60M$40M$20M$0-$20MAssets 2010: $50,217,973Liabilities 2010: $215,055Net Assets 2010: $50,002,9182010Assets 2011: $47,142,991Liabilities 2011: $223,040Net Assets 2011: $46,919,9512011Assets 2012: $46,704,810Liabilities 2012: $441,559Net Assets 2012: $46,263,2512012Assets 2013: $45,276,148Liabilities 2013: $300,699Net Assets 2013: $44,975,4492013Assets 2014: $46,331,038Liabilities 2014: $290,810Net Assets 2014: $46,040,2282014Assets 2015: $49,745,306Liabilities 2015: $225,205Net Assets 2015: $49,520,1012015Assets 2016: $50,790,578Liabilities 2016: $157,014Net Assets 2016: $50,633,5642016Assets 2017: $52,435,353Liabilities 2017: $611,156Net Assets 2017: $51,824,1972017Assets 2018: $51,241,207Liabilities 2018: -$284,283Net Assets 2018: $51,525,4902018Assets 2019: $51,766,088Liabilities 2019: $247,985Net Assets 2019: $51,518,1032019Assets 2020: $63,313,857Liabilities 2020: $375,915Net Assets 2020: $62,937,9422020Assets 2021: $75,188,148Liabilities 2021: $302,901Net Assets 2021: $74,885,2472021Assets 2022: $76,265,916Liabilities 2022: $70,981,119Net Assets 2022: $5,284,7972022Assets 2023: $78,284,383Liabilities 2023: $72,942,694Net Assets 2023: $5,341,6892023Assets 2024: $78,163,678Liabilities 2024: $72,925,398Net Assets 2024: $5,238,2802024

Highlighted filing

2024

Assets$78,163,678
Liabilities$72,925,398
Net Assets$5,238,280
Open 2024 Filing

Operations Trend

Revenue Growth36th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $2,912,6872010Expenses 2011: $3,096,1912011Expenses 2012: $2,655,1712012Revenue 2013: $3,019,332Expenses 2013: $2,765,535Net Income 2013: $253,7972013Revenue 2014: $2,694,651Expenses 2014: $2,900,270Net Income 2014: -$205,6192014Revenue 2015: $2,883,057Expenses 2015: $2,843,236Net Income 2015: $39,8212015Revenue 2016: $3,220,236Expenses 2016: $3,254,347Net Income 2016: -$34,1112016Revenue 2017: $3,188,490Expenses 2017: $3,480,184Net Income 2017: -$291,6942017Revenue 2018: $3,265,608Expenses 2018: $3,169,602Net Income 2018: $96,0062018Revenue 2019: $2,895,994Expenses 2019: $2,778,912Net Income 2019: $117,0822019Revenue 2020: $2,642,912Expenses 2020: $2,571,248Net Income 2020: $71,6642020Revenue 2021: $2,690,668Expenses 2021: $2,215,676Net Income 2021: $474,9922021Revenue 2022: $3,336,376Expenses 2022: $2,527,554Net Income 2022: $808,8222022Revenue 2023: $3,793,173Expenses 2023: $3,623,070Net Income 2023: $170,1032023Revenue 2024: $4,101,428Expenses 2024: $4,283,435Net Income 2024: -$182,0072024

Highlighted filing

2024

Revenue$4,101,428
Expenses$4,283,435
Net Income-$182,007
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$78,163,678
Liabilities
$72,925,398
Net assets
$5,238,280
Revenue
$4,101,428
Expenses
$4,283,435
Net income
-$182,007
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$78.2$72.9$5.24$4.10$4.28$0.18
2023Detailed filing. Detailed filing data is available for this year.$78.3$72.9$5.34$3.79$3.62$0.17
2022Detailed filing. Detailed filing data is available for this year.$76.3$71.0$5.28$3.34$2.53$0.81
2021Detailed filing. Detailed filing data is available for this year.$75.2$0.30$74.9$2.69$2.22$0.47
2020Detailed filing. Detailed filing data is available for this year.$63.3$0.38$62.9$2.64$2.57$0.07
2019Detailed filing. Detailed filing data is available for this year.$51.8$0.25$51.5$2.90$2.78$0.12
2018Detailed filing. Detailed filing data is available for this year.$51.2$0.28$51.5$3.27$3.17$0.10
2017Detailed filing. Detailed filing data is available for this year.$52.4$0.61$51.8$3.19$3.48$0.29
2016Detailed filing. Detailed filing data is available for this year.$50.8$0.16$50.6$3.22$3.25$0.03
2015Detailed filing. Detailed filing data is available for this year.$49.7$0.23$49.5$2.88$2.84$0.04
2014Detailed filing. Detailed filing data is available for this year.$46.3$0.29$46.0$2.69$2.90$0.21
2013Detailed filing. Detailed filing data is available for this year.$45.3$0.30$45.0$3.02$2.77$0.25
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$46.7$0.44$46.3$2.66
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$47.1$0.22$46.9$3.10
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$50.2$0.22$50.0$2.91
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 14, 2025
Return Version
2024v5.1
Gross Receipts
$4,188,756
Mission and Program Overview

Mission

To provide affordable banking products through excellent member service and well-trained professional staff to our members and the communities we serve.

Provided deposit and loan accounts to 6,021 members. Provided low cost source of credit and low cost financial services to our members. Provided source for member savings and checking account needs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$57,646,430$52,851,823▼ $4,794,607
Land, Buildings, and Equipment, Net$7,126,636$9,773,939▲ $2,647,303
Savings and Temporary Cash Investments$-234,881$5,975,448▲ $6,210,329
Investments Program Related$9,895,787$5,748,498▼ $4,147,289
Rtn Earn Endowment Incm Other Fnds$5,341,689$5,238,280▼ $103,409
Cash and Non-Interest-Bearing Accounts$2,333,580$2,348,242▲ $14,662
Receivables From Officers Etc$43,283$23,811▼ $19,472
Accounts Receivable-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Investments Other Securities-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$78,284,383$78,163,678▼ $120,705
Other Assets Total$1,473,548$1,441,917▼ $31,631
Liabilities
Other Liabilities$66,933,849$72,508,716▲ $5,574,867
Unsecured Notes Loans Payable$5,256,904--
Accounts Payable and Accrued Expenses$751,941$416,682▼ $335,259
Total Liabilities$72,942,694$72,925,398▼ $17,296
Net Assets / Fund Balance
Total Net Assets Fund Balance$5,341,689$5,238,280▼ $103,409
Total Liabilities and Net Assets / Fund Balance$78,284,383$78,163,678▼ $120,705

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$5,563,695$510,398$6,074,093
Buildings$2,442,604$995,384$3,437,988
Land$1,645,561-$1,645,561
Equipment$69,807$186,197$256,004
Leasehold Improvements$52,272$129,245$181,517
Compensation and Service Providers
Top Officer Pay39th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Alan CortumCEOFT$147,269$147,269
Kiersten VaughnVPFT$94,605$94,605
Rebecca SchmidtCFOPT$84,000$84,000

Board Members and Trustees

NameTitle
Sandra StrydChairperson
Gunnar SheltonDirector
Melissa MertzDirector
Mike GunningDirector
Phillip HolbdyDirector
Randy JordanDirector
Jacob GunningSC Member
John P BauerSC Member
Steve WoodSC Member
Arthur OgawaSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,051,279
Investment Income
$237,285
Other Revenue
$812,864
Change in Net Assets
$-182,007
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,173,997
Salaries, Compensation, and Employee Benefits$1,306,467
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$980,593
Benefits to Members---$802,971
Fees for Services Other---$636,751
Office Expenses---$337,758
Current Officers, Directors, Trustees, and Key Employees---$325,874
Occupancy---$309,707
Advertising---$196,783
Interest---$71,899
Travel---$35,779
Other Expenses---$12,348
All Other Expenses---$-1,171
Total Functional Expenses$0$0$0$4,283,435
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$43,283$23,811▼ $19,472
Receivables from Disqualified Persons-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Regular Shares$29,310,212
Share Certificates$17,955,082
Share Drafts$15,449,578
Money Market Shares$9,793,844
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“Membership is open to all persons who reside in Tulare and Madera Counties as well as those who work for the Select Employee Groups within these two counties.”

Form 990, Part VI, Section A, Line 7A

“Elections for the board of directors are held at the annual meeting of themembership.”

Form 990, Part VI, Section B, Line 11B

“The board of directors are notified that the 990 has been filed with the irs andcan request a copy. A third party prepares the 990 tax return which is then reviewed by the cfo before being filed with the irs.”

Form 990, Part VI, Section B, Line 15B

“Other key employees are evaluated by the ceo annually and compensation isdetermined by reviewing industry specific studies and internal performance factors.”

Form 990, Part VI, Section C, Line 19

“Current month financial statements are posted at each branch location and areavailable for member's review. Other documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Valley Oak Credit Union
EIN
94-1384575
Phone
5595611420
Address
40870 Sierra Drive, Three Rivers, CA 93271

Signing Officer

Name
Shari Weber
Title
Director Fin Services
Signed
2025-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rebecca Schmidt
Formed
1944
Legal Domicile
CA
Voting Board Members
7
Independent Board Members
7
Employees
23
Volunteers
7

Preparer

Firm
Richards & Associates
Address
21520 YORBA LINDA BLVD G-516, YORBA LINDA, CA 92887
Preparer
Richards Associates CPAs
Phone
7142876713
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Increase in accumulated unrealized gain = $78598”

Raw XML AppendixShowing 400 of 475 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Chairperson
IRS990/Form990PartVIISectionAGrp/TitleTxt7Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
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IRS990/Form990PartVIISectionAGrp/TitleTxt12SC Member
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IRS990/OtherSalariesAndWagesGrp/TotalAmt0980593
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IRS990/PrincipalOfficerNm0Rebecca Schmidt
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Share Certificates
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3Share Drafts
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt318000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0Gunnar Shelton
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm1Randy Jordan
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm2Randy Jordan
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm3Kiersten Vaughan
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0Director
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt1Director
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt2Director
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt3Vice Presid
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Membership is open to all persons who reside in Tulare and Madera Counties as well as those who work for the Select Employee Groups within these two counties.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ELECTIONS FOR THE BOARD OF DIRECTORS ARE HELD AT THE ANNUAL MEETING OF THEMEMBERSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS ARE NOTIFIED THAT THE 990 HAS BEEN FILED WITH THE IRS ANDCAN REQUEST A COPY. A THIRD PARTY PREPARES THE 990 TAX RETURN WHICH IS THEN REVIEWED BY THE CFO BEFORE BEING FILED WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3OTHER KEY EMPLOYEES ARE EVALUATED BY THE CEO ANNUALLY AND COMPENSATION ISDETERMINED BY REVIEWING INDUSTRY SPECIFIC STUDIES AND INTERNAL PERFORMANCE FACTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CURRENT MONTH FINANCIAL STATEMENTS ARE POSTED AT EACH BRANCH LOCATION AND AREAVAILABLE FOR MEMBER'S REVIEW. OTHER DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Increase in accumulated unrealized gain = $78598
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, Line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, Line 19

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