Virginia Credit Union Inc
Virginia Credit Union Inc is based in Richmond, Virginia. Founded in 1928, it describes itself as a member-owned financial cooperative focused on helping members achieve greater financial success. Its community giving supports financial education, food security, children, and community well-being.
Virginia Credit Union Inc at a glance
In short: Virginia Credit Union Inc gave $1.4M across 22 grants in 2023 (avg $62K), mostly in Virginia. 50% of 2023 grantees were new. Source: 2023 IRS Form 990.
- Annual giving (2023)
- $1,354,000
- +10.6% vs 2022
- Grants made (2023)
- 22
- +22.2% vs 2022
- Average grant
- $61,545
- -9.5% vs 2022
- Median grant
- $15,000
- Total assets
- $5,324,355,565
- +4.7% vs 2022
- New grantees (estimate)
- 50% first-time grantees (11 of 22, 2023; small sample)
- Primary geography
- Virginia (96% of itemized 2023 grant dollars)
- Latest 990 filing
- Form 990, 2023 View filing
Data from IRS Form 990, 2023; updated September 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to Virginia Credit Union Inc
- Next open deadline
- December 31, 2026 (Virginia Credit Union Scholarship Program)
- Contact
Mailing address: PO Box 90010, Richmond, VA 23225
Phone: (804) 323-6000
Website: https://vacu.org
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Open Grants
1 open opportunity from Virginia Credit Union Inc
Who Virginia Credit Union Inc funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2023
The largest 2023 recipient was VCU School of Business Foundation ($1.0M). Together the top 10 received $1.2M.
Grant Size Distribution
61 grants across all recorded years
The most common grant size was under $50K: 54 grants of 61 (89%).
Geographic Focus
Where this funder awards grants
The 2023 grant dollars went primarily to Virginia: 96% went to recipients in Virginia and 4% to recipients in Washington, DC. The filing says the organization monitors contribution recipients to confirm their activities align with its interests in supporting Virginia communities.
Grant Distribution by State
Share of 2023 grant dollars across all 22 itemized grants.
Cities
Is Virginia Credit Union Inc open to new grantees?
50%
first-time grantees, 2023
In 2023, 11 of 22 grantees (50%) were first-time recipients. With only 22 grantees, that is a small sample: one grantee more or less moves the share by about 5 points. First grants averaged $20K; repeat grants $103K. How we count
Medians: $16K first-time, $15K repeat.
- 45% of 2023 grantees were also funded in 2022. Method
- Giving held roughly steady from 2020 to 2023 (+18%). Method
Estimate from itemized grant lists in IRS Form 990 filings (2020–2023). 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 2020 to 2023, annual grant giving ranged from $1.1M (2021) to $1.4M (2023). In 2023 it made 22 grants totaling $1.4M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| VCU School of Business Foundation Richmond, VA | Vacu Financial Success Center at VCU | $1,000,000 |
| VCU Richmond, VA | General Suppport | $50,000 |
| Worldwide Foundation for Credit Unions Washington, DC | General Support | $50,000 |
| Chamber RVA Richmond, VA | Hype Program, Mission Tomorrow; General Support | $30,000 |
| Boys and Girls Club Richmond, VA | General Support | $25,000 |
| Jr Achievement Richmond, VA | General Purposes | $20,000 |
| UVA Athletics Charlottesville, VA | Virginia Athletic Foundation | $17,500 |
| Va Council on Ecomomic Education Richmond, VA | Educator Awards, Sri Mark Intel Report | $16,000 |
| Childrens Hospital Richmond, VA | General Support | $15,000 |
| VCU Athletics Fund Richmond, VA | General Support | $15,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2023 | $5,324,355,565 | $341,774,027 | $319,471,859 | $1,354,000 | 22 | $53,176,752 |
| 2022 | $5,086,460,688 | $269,593,613 | $219,484,073 | $1,224,583 | 18 | $30,889,640 |
| 2021 | $4,993,101,039 | $263,088,979 | $212,439,527 | $1,140,434 | 11 | $34,584,002 |
| 2020 | $4,532,757,612 | $279,286,306 | $249,381,398 | $1,152,000 | 10 | $50,562,437 |
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
The mission stated on the 2023 filing is “to be our members’ trusted provider of financial services, helping them achieve greater success.” The filing says that in 2023 the credit union focused its charitable contributions on financial education, food security, and children. Its website also identifies children’s health and wellness and community well-being among its community engagement areas.
The 2023 grantees included organizations whose own missions address youth development, student support, food access, and regional economic opportunity. For example, Boys and Girls Club says its mission is to help young people reach their potential as productive, caring, and responsible citizens; Communities in Schools says it surrounds students with support so they can stay in school and achieve in life. Shalom Farms describes its mission as building healthy communities by growing and sharing healthy food, while Fredericksburg Regional Food Bank says it works to feed the hungry through partner agencies and engage the community in ending hunger. Greater Richmond Partnership describes its mission as generating economic opportunities and quality jobs in the region.
Grantmaking
In filing year 2023, Virginia Credit Union reported 22 grants totaling $1,354,000. Grant amounts ranged from $6,000 to $1,000,000, with a median of $15,000. The largest grant was $1,000,000 to VCU School of Business Foundation for the VACU Financial Success Center at VCU. Other notable awards included $50,000 to VCU for general support, $50,000 to Worldwide Foundation for Credit Unions for general support, and $30,000 to Chamber RVA for its HYPE program, Mission Tomorrow, and general support. Boys and Girls Club received $25,000; JR Achievement received $20,000; and UVA Athletics received $17,500.
The credit union also offers scholarships to its own student members pursuing an undergraduate degree. Its website describes eligibility for high school seniors and current undergraduate students who are members, have at least a 2.5 GPA, and submit a transcript. The website says the application for the 2025–2026 academic year is closed. This scholarship is participant support, not a grant program for outside organizations.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2023 filing lists the following directors and officers: Kimberly Baine, director; Robert Bolling, director and secretary-treasurer; Kenneth E Ampy, director and board chair; Eric B Tolbert, director; Paul Thompson, director; Melina Davis, director and board vice chair; Robert Jones, director; Brian K Jackson, director; John T Grier, director; and Patricia Green, director.
Virginia Credit Union Inc is led by Christopher Shockley, President & CEO on every filing since 2020; 17 of 19 officers listed in 2023 are compensated.
Officers on the 2023 filing
Christopher Shockley
President & CEO
On filings since 2020
60 hrs/week
$918K (2020) → $1.1M (2023)
John Stone
Executive Vice President Finance Ser & Cuso President
Executive Vice President Financial Services & Cus → Executive Vice President Finance Ser & Cuso President, 2021
On filings since 2020
55 hrs/week
$426K (2020) → $517K (2023)
Kenneth E. Ampy
Director & Board Chair
Director & Secretary Treasurer → Director & Board Chair, 2022
On filings since 2020
10 hrs/week
$2K (2021) → $6K (2023)
Brian K. Jackson
Director
On filings since 2020
5 hrs/week
$1K (2021) → $6K (2023)
Eric B. Tolbert
Director
On filings since 2020
5 hrs/week
$1K (2020) → $6K (2023)
John T. Grier
Director
On filings since 2020
5 hrs/week
$665 (2021) → $1K (2023)
Melina Davis
Director & Board Vice Chair
Director → Director & Board Vice Chair, 2021
On filings since 2020
5 hrs/week
$2K (2021) → $6K (2023)
Patricia Green
Director
On filings since 2020
5 hrs/week
$2K (2021) → $4K (2023)
Paul Thompson
Director
Director & Board Vice Chair → Director, 2021
On filings since 2020
5 hrs/week
$2K (2021) → $6K (2023)
Robert Bolling
Director & Secretary Treasurer
Director → Director & Secretary Treasurer, 2022
On filings since 2020
5 hrs/week
$2K (2021) → $6K (2023)
Tracy McCabe
Director
On filings since 2020
5 hrs/week
$665 (2021) → $0 (2023)
Kimberly Baine
Director
On filings since 2022
5 hrs/week
$1K (2022) → $0 (2023)
Robert Jones
Director
New on the 2023 filing
5 hrs/week
$6K (2023)
Christopher N. Saneda
Sevp & COO
On filings since 2020
55 hrs/week
$701K (2020) → $1.1M (2023)
Lee Dranoff
Executive Vice President Lending
On filings since 2020
55 hrs/week
$414K (2020) → $471K (2023)
Maryann Fatheddin
Executive Vice President Human Resources
On filings since 2020
55 hrs/week
$436K (2020) → $491K (2023)
Michael Noble
Executive Vice President Chief Bus Banking Officer
Executive Vice President Chief Business Banking → Executive Vice President Chief Bus Banking Officer, 2021
On filings since 2020
55 hrs/week
$418K (2020) → $487K (2023)
Stephanie Vick
Executive Vice President & CFO
On filings since 2020
55 hrs/week
$566K (2020) → $769K (2023)
Deborah Wreden
Executive Vice President Product & Strategy
New on the 2023 filing
55 hrs/week
$469K (2023)
Former officers (3)
- Former: Laura Stevens (2020–2022) — Mortgage Loan Officer
- Former: Rob Jones (2020–2022) — Director
- Former: Demerst B. Smit (2020–2021) — Director
Data from IRS Form 990 filings, 2020–2023. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2023 IRS filing
The highest reported compensation on the 2023 filing was $1.1M, to Christopher Shockley (President/CEO). 17 officers or directors reported compensation on that filing.
Frequently asked questions about Virginia Credit Union Inc
How much does Virginia Credit Union Inc give each year?
Virginia Credit Union Inc gave $1.4M across 22 grants in 2023, according to its 2023 IRS Form 990. In 2022 it gave $1.2M across 18 grants.
What is Virginia Credit Union Inc's typical grant size?
Virginia Credit Union Inc's median grant in 2023 was $15,000, and its average grant was $61,545, across 22 grants on its 2023 IRS Form 990. Organizations receiving their first grant from Virginia Credit Union Inc that year got $20K on average.
Where does Virginia Credit Union Inc give grants?
Virginia Credit Union Inc gives mostly in Virginia: 96% of the grant dollars itemized on its 2023 IRS Form 990 went to recipients there. The most frequent recipient cities were Richmond, VA (17 grants).
Does Virginia Credit Union Inc give general operating support?
Yes: 73% of Virginia Credit Union Inc's 2023 grants with a stated purpose (16 of 22) were for general or operating support, per its 2023 IRS Form 990.
Who are Virginia Credit Union Inc's largest grantees?
Virginia Credit Union Inc's largest 2023 grantees include VCU School of Business Foundation ($1,000,000), VCU ($50,000) and Worldwide Foundation for Credit Unions ($50,000), according to its 2023 IRS Form 990. Together they received 81% of its itemized 2023 grant dollars.
How large is Virginia Credit Union Inc?
Virginia Credit Union Inc reported $5.3B in total assets on its 2023 IRS Form 990. Its revenue that year was $341.8M.
What does Virginia Credit Union Inc fund?
The mission stated on the 2023 filing is “to be our members’ trusted provider of financial services, helping them achieve greater success.” The filing says that in 2023 the credit union focused its charitable contributions on financial education, food security, and children. See mission & focus areas ↑
How do I apply for a grant from Virginia Credit Union Inc?
Virginia Credit Union Inc has no public application process in the sources Grantable reviewed. Check vacu.org for current guidelines, or contact the foundation directly before submitting a request.
What is Virginia Credit Union Inc's EIN?
Virginia Credit Union Inc's EIN (Employer Identification Number) is 54-0578719. IRS Form 990 filing data is available on this page for 2020–2023.
Data last updated September 2026. Sourced from IRS Form 990 filings. Research dossier generated September 2026.
Data update history
(5)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2020 (received by the IRS November 11, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS November 15, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS November 13, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS November 13, 2024)
- IRS filings on file for fiscal years 2020–2023
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Virginia Open opportunities, soonest deadline first.
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Figures come from Virginia Credit Union Inc'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.
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