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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 2022. Filed on November 2, 2023.

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 2022 IRS Form 990 filing, Valleystar Credit Union, a 501(c)(14) state-chartered credit union or mutual reserve fund, reported compensation for 20 out of 194 total employees. Among the employees shown here, the average compensation is $121,726. The highest compensated employee at Valleystar Credit Union is Michael Warrell with fiscal year 2022 compensation of $324,895. Valleystar Credit Union changed its name from Martinsville Dupont Credit Union Dba Valleystar Credit Union in 2020.

Revenue, expenses, and employee compensation

Revenue

$35,715,444

Expenses

$32,449,236

Employee compensation

$12,019,447
Revenue, expenses, and employee compensation over time

Reported Compensated Employees

Michael Warrell
President and Chief Executive Officer
$324,895
$324,895 No related compNo other comp
Kevin B Laine
Executive Vice President
$203,479
$203,479 No related compNo other comp
Robert Sparrow
Chief Risk Officer
$197,910
$197,910 No related compNo other comp
Justin Barnes
Chief Lending Officer
$192,829
$192,829 No related compNo other comp
Mendy Shaffer
Chief Financial Officer
$175,517
$175,517 No related compNo other comp
Angela Davis
Senior Vice President and Chief Operating Officer
$149,656
$149,656 No related compNo other comp
Rebecca Freemal
Chief Marketing and COMM Officer
$139,185
$139,185 No related compNo other comp
John Hudson
Vice President of Comsumer Lending
$132,791
$132,791 No related compNo other comp
Benjamin McBride
Senior Vice President of IT
$131,643
$131,643 No related compNo other comp
Elliot Kuelz
Vice President of Commercial Lending
$126,123
$126,123 No related compNo other comp
Leslie Rakes
Senior Vice President, Human Resources
$109,801
$109,801 No related compNo other comp
Jordan Weatherholtz
Vice President of DATA Analytics
$99,524
$99,524 No related compNo other comp

Benchmark Employee Compensation

Non-Employee Board Members

Norman W Hill
Director
$6,000
$6,000 No related compNo other comp
Nancy S Phillips
Director
$6,000
$6,000 No related compNo other comp
Gregory W Hill
Director and Legislative REP
$6,000
$6,000 No related compNo other comp
James B Rorrer
Chair and Director
$6,000
$6,000 No related compNo other comp
Douglas W Nunn
Director
$6,000
$6,000 No related compNo other comp
Betty Jo Ray
Secretary and Director
$6,000
$6,000 No related compNo other comp
G Steve Isley
Director and Vice Chair
$6,000
$6,000 No related compNo other comp
Terry A Young
Director
$5,600
$5,600 No related compNo other comp
David L Deal
Treasurer and Director
$5,500
$5,500 No related compNo other comp
Jason Vipperman
Supervisory Committee Member
$4,800
$4,800 No related compNo other comp
Tyel Banks
Supervisory Committee Member
$4,800
$4,800 No related compNo other comp
Sandy Strayer
Supervisory Committee Member
$3,200
$3,200 No related compNo other comp

Contractors

Vail Appraisal LLC
Real Estate Appraisal
$224,460
Bassett Office Supplies
Office Supplies
$169,023
Lafayette Ayers & Whitlock
Lawyer
$161,933
Alm First Financial Advisors
Asset Liability Management
$130,130
Cdw LLC
Computers
$105,444

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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