Vermont State Employees Credit Union
Vermont State Employees Credit Union (VSECU) was a Montpelier-based credit union whose stated mission was to improve the quality of life for all Vermonters. Its 2022 filing is marked as a final return: VSECU merged into New England Federal Credit Union at the close of business on December 31, 2022, and operated under NEFCU’s legal entity beginning January 1, 2023. VSECU therefore appears to have wound down as a separate organization; its reported charitable contributions should not be treated as evidence of a current grant program.
Vermont State Employees Credit Union at a glance
In short: Vermont State Employees Credit Union gave $636K across 10 grants in 2022 (avg $64K), mostly in Vermont. 90% of 2022 grantees were new. Source: 2022 IRS Form 990.
- Annual giving (2022)
- $636,207
- +274.2% vs 2021
- Grants made (2022)
- 10
- +25.0% vs 2021
- Average grant
- $63,621
- +199.4% vs 2021
- Median grant
- $10,313
- New grantees (estimate)
- 90% first-time grantees (9 of 10, 2022; small sample)
- Primary geography
- Vermont (100% of itemized 2022 grant dollars)
- Latest 990 filing
- Form 990, 2022 View filing
Data from IRS Form 990, 2022; updated September 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to Vermont State Employees Credit Union
- Contact
Mailing address: 1 Bailey Avenue, Montpelier, VT 05602
Phone: (802) 371-5162
Website: https://vsecu.com
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Vermont State Employees Credit Union funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2022
The largest 2022 recipient was Vsecu Foundation ($550K). Together the top 10 received $636K.
Grant Size Distribution
40 grants across all recorded years
The most common grant size was under $50K: 35 grants of 40 (88%).
Geographic Focus
Where this funder awards grants
All reported 2022 contribution dollars went to recipients in Vermont.
Grant Distribution by State
Share of 2022 grant dollars across all 10 itemized grants.
Cities
Is Vermont State Employees Credit Union open to new grantees?
90%
first-time grantees, 2022
In 2022, 9 of 10 grantees (90%) were first-time recipients. With only 10 grantees, that is a small sample: one grantee more or less moves the share by about 10 points. First grants averaged $69K; repeat grants $13K. How we count
Medians: $10K first-time, $13K repeat.
Estimate from itemized grant lists in IRS Form 990 filings (2018–2022). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2018 to 2022, annual grant giving ranged from $75K (2020) to $636K (2022). In 2022 it made 10 grants totaling $636K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Vsecu Foundation Montpelier, VT | Charitable Contribution | $550,000 |
| Vermont Council on Rural Development Montpelier, VT | Charitable Contribution | $12,912 |
| Prevent Child Abuse - Vermont Montpelier, VT | Charitable Contribution | $12,700 |
| Cover Home Repair Inc White River Junction, VT | Charitable Contribution | $10,809 |
| Northeast Organic Farming Association of Vermont Inc Richmond, VT | Charitable Contribution | $10,626 |
| Heritage Family Cares 4 You Rutland, VT | Charitable Contribution | $10,000 |
| Vermont Recovery Network Burlington, VT | Charitable Contribution | $8,041 |
| Pathways Vermont Inc Winooski, VT | Charitable Contribution | $7,824 |
| Vermont Community Foundation Middlebury, VT | Charitable Contribution | $7,000 |
| Committee on Temporary Shelter Burlington, VT | Chaitable Contribution | $6,295 |
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Financial History
Multi-year comparison from IRS filings
The filing describes the listed payments as charitable contributions rather than grants.
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2022 | — | $47,202,194 | $37,928,594 | $636,207 | 10 | $2,621,056 |
| 2021 | $1,088,463,473 | $48,370,084 | $35,284,594 | $170,000 | 8 | $1,915,815 |
| 2020 | $985,091,351 | $45,009,787 | $38,328,313 | $75,001 | 7 | $1,621,033 |
| 2019 | $842,445,629 | $43,023,253 | $36,724,126 | $156,500 | 10 | $2,200,898 |
| 2018 | $778,214,523 | $40,299,462 | $34,933,142 | $98,364 | 5 | $1,866,429 |
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
VSECU stated: “Our mission is dedicated to improving the quality of lives for all Vermonters.” Its filing describes its primary program as providing financial services products to members.
The 2022 contributions went to Vermont organizations whose missions included rural community development, preventing child abuse, home repair and sustainable reuse, supporting people in recovery, mental health services, and addressing homelessness. For example, the Vermont Council on Rural Development says it helps citizens build prosperous and resilient communities; COVER says it mobilizes volunteers and homeowners to improve homes; and the Committee on Temporary Shelter says it provides shelter, services, and housing for people who are homeless or marginally housed.
Grantmaking
VSECU’s 2022 filing lists 10 contributions totaling $636,207. The median was $10,313, with amounts ranging from $6,295 to $550,000. The filing characterizes these payments as charitable contributions, not grants. It says VSECU selected reputable organizations carrying out philanthropic activities, that some recipients were voted on by credit union members, and that it did not monitor recipients after making contributions.
The largest reported contribution was $550,000 to VSECU Foundation. Other 2022 recipients were Vermont Council on Rural Development ($12,912), Prevent Child Abuse Vermont ($12,700), COVER Home Repair ($10,809), Northeast Organic Farming Association of Vermont ($10,626), Heritage Family Cares 4 You ($10,000), Vermont Recovery Network ($8,041), Pathways Vermont ($7,824), Vermont Community Foundation ($7,000), and Committee on Temporary Shelter ($6,295).
Leadership & Key People
Leadership team and compensation from IRS filings
The 2022 filing lists James Larsen, Heather Neuwirth Loveyjoy, Colin Owyang, Janet Hollnar, Spencer Newman, Eugene Wescott, William Belongia, Michael Hogan, Renee Sullivan, and George Sales as board or supervisory committee members.
Vermont State Employees Credit Union is led by Robert Miller, President & CEO on every filing since 2018; 11 of 25 officers listed in 2022 are compensated.
Officers on the 2022 filing
Robert Miller
President & CEO
On filings since 2018
40 hrs/week
$334K (2018) → $470K (2022)
Michael Hogan
Bod & V. Chair
On filings since 2020
1 hr/week
No compensation reported
Spencer Newman
Bod & Chair
Bod & Treasurer → Bod & Chair, 2021
On filings since 2020
1 hr/week
No compensation reported
Gregory Huysmann
Director of Business Lendi
Director of Business Lending → Director of Business Lendi, 2020
On filings since 2019
40 hrs/week
$115K (2019) → $168K (2022)
George Sales
Bod & Director
Supervisory Committee → Bod & Director, 2021
On filings since 2020
1 hr/week
No compensation reported
James Larsen
Bod & Director
On filings since 2020
1 hr/week
No compensation reported
Carrie Simmons
Bod & Director
On filings since 2021
1 hr/week
No compensation reported
Julie Lineberger
Bod & Director
On filings since 2021
1 hr/week
No compensation reported
Own Milne
Bod & Director
On filings since 2021
1 hr/week
No compensation reported
Stephanie Meunier
Bod & Director
On filings since 2021
1 hr/week
No compensation reported
Colin Owyang
Bod & Director
New on the 2022 filing
1 hr/week
No compensation reported
Eric Pasti
Senior Vmware Systems Administrator
On filings since 2018
40 hrs/week
$111K (2018) → $131K (2022)
Richard Hommel
Svp-Technology & Operations
On filings since 2018
40 hrs/week
$201K (2018) → $289K (2022)
Terence Field
Svp-Finance
On filings since 2018
40 hrs/week
$219K (2018) → $284K (2022)
Trevor Thorpe
Vice President It Infrastructure
On filings since 2018
40 hrs/week
$132K (2018) → $169K (2022)
Valerie Beaudin
Svp-Lending
On filings since 2018
40 hrs/week
$139K (2018) → $262K (2022)
Yvonne Garand
Svp-Business Development
Svp-Retail & Marketing → Svp-Business Development, 2021
On filings since 2018
40 hrs/week
$210K (2018) → $294K (2022)
Eileen Mead-Belanger
Vice President Human Resources
New on the 2022 filing
40 hrs/week
$133K (2022)
Jill Stowe
Vice President Compliance
New on the 2022 filing
40 hrs/week
$131K (2022)
Sara Pryce
Vice President Business Solutions
New on the 2022 filing
40 hrs/week
$163K (2022)
Eugene Wescott
Supervisory Committee Chai
Supervisory Committee Chair → Supervisory Committee Chai, 2021
On filings since 2020
1 hr/week
No compensation reported
Heather Neuwirth Loveyjoy
Bod & Secretary
Bod & Director → Bod & Secretary, 2021
On filings since 2020
1 hr/week
No compensation reported
Janet Hollnar
Bod & Treasurer
Bod & Director → Bod & Treasurer, 2021
On filings since 2020
1 hr/week
No compensation reported
Renee Sullivan
Supervisory Committee
New on the 2022 filing
1 hr/week
No compensation reported
William Belongia
Supervisory Committee
New on the 2022 filing
1 hr/week
No compensation reported
Former officers (26)
- Former: Brian Bishop (2019–2021) — Senior Financial Advisor
- Former: Donna Heath (2020–2021) — Supervisory Committee
- Former: Norman McElvany (2020–2021) — Bod & Director
- Former: Renee Beauchemin (2020–2021) — Supervisory Committee
- Former: Shari Delatte (2020–2021) — Mortgage Originator
- Former: Amy Shollenberger (2020) — Bod & Director
- Former: Ben Doyle (2020) — Bod & Director
- Former: Janet Spitler (2020) — Bod & Director
- Former: Mary Trepanier (2020) — Bod Secretary
- Former: A. Shollenberger (2018–2019) — Bod & Director
- Former: B. Doyle (2018–2019) — Bod & Director
- Former: G. Wescott (2018–2019) — Supervisory Committee
- Former: H. Neuwirth Loveyjoy (2018–2019) — Bod & Director
- Former: J. Hollner (2018–2019) — Bod & Director
- Former: J. Spitler (2018–2019) — Bod & Director
- Former: K. B. Cheney (2018–2019) — Bod & Director
- Former: M. Hogan (2018–2019) — Bod & V. Chair
- Former: M. Trepanier (2018–2019) — Bod Secretary
- Former: N. Desrochers (2018–2019) — Supervisory Commitee Chair
- Former: N. McElvany (2018–2019) — Bod & Chair
- Former: S. Newman (2018–2019) — Bod & Treasurer
- Former: Brian Bristow (2019) — Vice President Financial Advisory Services
- Former: D. Heath (2019) — Supervisory Committee
- Former: E. Fox (2019) — Bod & Director
- Former: John K. Phalen (2018) — Vice President Portfolio Manager
- Former: S. Miller (2018) — Supervisory Committee
Data from IRS Form 990 filings, 2018–2022. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2022 IRS filing
The highest reported compensation on the 2022 filing was $470K, to Robert Miller (President/CEO). 11 officers or directors reported compensation on that filing.
Frequently asked questions about Vermont State Employees Credit Union
How much does Vermont State Employees Credit Union give each year?
Vermont State Employees Credit Union gave $636K across 10 grants in 2022, according to its 2022 IRS Form 990. In 2021 it gave $170K across 8 grants.
What is Vermont State Employees Credit Union's typical grant size?
Vermont State Employees Credit Union's median grant in 2022 was $10,313, and its average grant was $63,621, across 10 grants on its 2022 IRS Form 990. Organizations receiving their first grant from Vermont State Employees Credit Union that year got $69K on average.
Where does Vermont State Employees Credit Union give grants?
Vermont State Employees Credit Union gives mostly in Vermont: 100% of the grant dollars itemized on its 2022 IRS Form 990 went to recipients there. The most frequent recipient cities were Montpelier, VT (3 grants) and Burlington, VT (2 grants).
Who are Vermont State Employees Credit Union's largest grantees?
Vermont State Employees Credit Union's largest 2022 grantees include Vsecu Foundation ($550,000), Vermont Council on Rural Development ($12,912) and Prevent Child Abuse - Vermont ($12,700), according to its 2022 IRS Form 990. Together they received 90% of its itemized 2022 grant dollars.
What does Vermont State Employees Credit Union fund?
VSECU stated: “Our mission is dedicated to improving the quality of lives for all Vermonters.” Its filing describes its primary program as providing financial services products to members. See mission & focus areas ↑
How do I apply for a grant from Vermont State Employees Credit Union?
Vermont State Employees Credit Union has no public application process in the sources Grantable reviewed. Check vsecu.com for current guidelines, or contact the foundation directly before submitting a request.
What is Vermont State Employees Credit Union's EIN?
Vermont State Employees Credit Union's EIN (Employer Identification Number) is 03-0184985. IRS Form 990 filing data is available on this page for 2018–2022.
Data last updated September 2026. Sourced from IRS Form 990 filings. Research dossier generated September 2026.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Added Form 990 for fiscal year 2018 (received by the IRS August 5, 2020)
- Added Form 990 for fiscal year 2019 (received by the IRS August 5, 2020)
- Updated Form 990 for fiscal year 2020 (received by the IRS October 27, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS May 16, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS October 23, 2023)
- IRS filings on file for fiscal years 2020–2022
Explore Open Grants
Browse active grant opportunities in Vermont State Employees Credit Union's focus areas in our free grants database
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The filing figures on this page are open data under CC BY 4.0. About GrantGraph Open
Figures come from Vermont State Employees Credit Union's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
Vermont State Employees Credit Union down — hundreds of funders to go?