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Compensation 990 is an independent service that uses public IRS Form 990 filings as its source data. We clean and standardize this information, but the original filings may contain errors or omissions. Years on this site refer to the organization’s fiscal year end date on the filing.

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Organizations Public & Societal Benefit Valleystar Credit Union

Valleystar Credit Union

Fiscal year ending 2021. Filed on July 18, 2022.

P O Box 5511
Martinsville, Virginia 24115

Valleystar Credit Union (EIN: 54-6040482) has filed an IRS Form 990 since at least fiscal year 2016. In its fiscal year 2021 IRS Form 990 filing, Valleystar Credit Union, a 501(c)(14) state-chartered credit union or mutual reserve fund, reported compensation for 13 out of 174 total employees. Among the employees shown here, the average compensation is $118,229. The highest compensated employee at Valleystar Credit Union is Lisa Lambrecht with fiscal year 2021 compensation of $222,864. Valleystar Credit Union changed its name from Martinsville Dupont Credit Union Dba Valleystar Credit Union in 2020.

Revenue, expenses, and employee compensation

Revenue

$29,130,606

Expenses

$26,171,205

Employee compensation

$10,660,660
Revenue, expenses, and employee compensation over time

Reported Compensated Employees

Lisa Lambrecht
Executive Vice President
$222,864
$222,864 No related compNo other comp
Cheri Spence
Senior Vice President and Chief Information Officer
$155,768
$155,768 No related compNo other comp
Delbert Lee Morgan
President/Ceo (Retired 3/17/2021)
$144,976
$144,976 No related compNo other comp
William A Reynolds
Vice President Strategic Development
$134,750
$134,750 No related compNo other comp
Justin Barnes
Vice President, Commercial Lending
$126,353
$126,353 No related compNo other comp
Karen Desalvo
Senior Vice President Chief Experience Officer
$115,308
$115,308 No related compNo other comp
Robert Sparrow
Vice President, Risk Management
$102,654
$102,654 No related compNo other comp
Rebecca Freemal
Vice President Brand
$100,535
$100,535 No related compNo other comp
Jeanne Newby
Vice President of People and Culture
$96,017
$96,017 No related compNo other comp
Mendy Shaffer
Interim Chief Financial Officer
$92,781
$92,781 No related compNo other comp
Kevin B Laine
Vice President, Facilities
$92,755
$92,755 No related compNo other comp
Angela Davis
Senior Vice President and Chief Operating Officer
$77,580
$77,580 No related compNo other comp

Benchmark Employee Compensation

Non-Employee Board Members

Norman W Hill
Director
$5,100
$5,100 No related compNo other comp
Gregory W Hill
Director and Legislative REP
$5,100
$5,100 No related compNo other comp
James B Rorrer
Director
$5,100
$5,100 No related compNo other comp
David L Deal
Director
$5,100
$5,100 No related compNo other comp
Douglas W Nunn
Chair and Director
$5,100
$5,100 No related compNo other comp
Michael B Bryant
Director
$5,100
$5,100 No related compNo other comp
Betty Jo Ray
Director
$5,100
$5,100 No related compNo other comp
Nancy S Phillips
Secretary and Director
$4,800
$4,800 No related compNo other comp
G Steve Isley
Treasurer and Director
$4,800
$4,800 No related compNo other comp
Jason Vipperman
Supervisory Committee Member
$3,900
$3,900 No related compNo other comp
Terry A Young
Supervisory Committee Chair
$3,900
$3,900 No related compNo other comp
Tyel Banks
Supervisory Committee Member
$3,600
$3,600 No related compNo other comp

Contractors

Lafayette Ayers & Whitlock
Lawyer
$149,496
Lisa Lambrecht
Legal Settlement
$128,200
Vail Appraisal LLC
Real Estate Appraisal
$125,641

Mission Statement

VALLEYSTAR CREDIT UNION PRIMARY EXEMPT PURPOSE IS TO RETURN EXCESS EARNINGS TO ALL ITS MEMBERS IN THE FORM OF BETTER DEPOSIT/LOAN RATES AND LOWER FEES. VALLEYSTAR CREDIT UNION IS A MEMBER-OWNED FINANCIAL COOPERATIVE WHERE ALL MEMBERS BENEFIT EQUALLY, AND ALL MEMBERS HAVE AN EQUAL VOTE.

Revisions to this organization profile

November 17, 2025:
2024 Valleystar Credit Union 990 filed
November 15, 2024:
2023 Valleystar Credit Union 990 filed
November 2, 2023:
2022 Valleystar Credit Union 990 filed

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