Nonprofit · EIN 74-1200165
VELOCITY CREDIT UNION
Tax-exempt · AUSTIN, TX 78759
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $63,950,131 | $63,004,133 | $945,998 | $1,067,403,243 | $925,238,767 | $142,164,476 |
| December 31, 2024 | 990 | $61,722,513 | $59,293,381 | $2,429,132 | $1,028,360,466 | $900,930,409 | $127,430,057 |
| December 31, 2023 | 990 | $55,312,889 | $53,854,155 | $1,458,734 | $1,039,075,424 | $921,574,747 | $117,500,677 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $51,429,625
- Investment income
- $12,054,236
- Net rental income
- -$1,056,767
- Net gain from sales of assets
- $48,159
- Other revenue
- $466,270
Expenses
- Grants and similar amounts paid
- $74,373
- Benefits paid to members
- $8,981,899
- Compensation of officers, directors and key employees
- $2,534,571
- Other salaries and wages
- $15,726,317
- Salaries, compensation and benefits (total)
- $22,909,279
- Professional fundraising fees
- $0
- Legal fees
- $350,801
- Accounting fees
- $309,138
- Occupancy
- $1,504,847
- Depreciation
- $2,312,343
Balance sheet and other
- Total assets, start of year
- $1,028,360,466
- Total assets, end of year
- $1,067,403,243
- Total liabilities, end of year
- $925,238,767
- Net assets, end of year
- $142,164,476
- Land, buildings and equipment
- $48,174,592
- Publicly traded securities
- $257,334,516
- Gross unrelated business income
- $36,368
- Gross receipts
- $66,531,158
- Employees
- 257
- Volunteers
- 7
- Year formed
- 1947
- State of legal domicile
- TX
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DEBORAH MITCHELL | PRESIDENT/CEO Officer | 40 | $1,076,272 | $24,254 |
| JAMES BROWN | EVP/CLO Officer | 40 | $407,554 | $41,510 |
| AUSTIN AHLRICH | COO Highest-paid employee | 40 | $294,034 | $29,099 |
| DANIEL PENBERG | CIO Officer | 40 | $286,593 | $34,667 |
| CHERI HALL | SR VP OF HUMAN RESOURCES Highest-paid employee | 40 | $248,992 | $36,806 |
| ROBERT COLE | CHIEF EXPERIENCE OFFICER Officer | 40 | $262,514 | $20,236 |
| CHRIS CLARK | CFO Officer | 40 | $260,669 | $21,302 |
| KIM SCHAEFER | SR VP, MEMBER SERVICES (LEFT 9/2025) Highest-paid employee | 40 | $256,183 | $12,118 |
| ALAN NYKIEL | SR VP OF MARKETING Highest-paid employee | 40 | $235,003 | $16,838 |
| LINDSEY RECORD | VP MORTGAGE LENDING Highest-paid employee | 40 | $213,655 | $13,304 |
| KASHA BARTHOLOMEW | CHAIRPERSON Trustee or director, Officer | 2 | $14,000 | $0 |
| ERIC WISE | 1ST VICE CHAIR Trustee or director, Officer | 2 | $14,000 | $0 |
| THOMAS MATTHEWS | 2ND VICE CHAIR Trustee or director, Officer | 2 | $14,000 | $0 |
| LINDSEY J PUTMAN | SECRETARY/TREASURER Trustee or director, Officer | 2 | $14,000 | $0 |
| JOHN CHOMOUT | DIRECTOR Trustee or director | 2 | $14,000 | $0 |
3 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MARY PAREDES | DIRECTOR Trustee or director | 2 | $14,000 |
| DOUG SKOLAUT | DIRECTOR Trustee or director | 2 | $14,000 |
| MIKE SUMMERS | DIRECTOR (AS OF 12/2025) Trustee or director | 2 | $1,000 |
990 for the year ended December 31, 2024: 16 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DEBORAH MITCHELL | PRESIDENT/CEO Officer | 40 | $1,018,731 | $22,808 |
| JAMES BROWN | EVP/CLO Officer | 40 | $395,710 | $37,939 |
| DANIEL PENBERG | CIO Officer | 40 | $272,898 | $37,189 |
| CHERI HALL | SR. VP OF HUMAN RESOURCES Highest-paid employee | 40 | $238,052 | $32,987 |
| ROBERT COLE | SR. VP OF DIGITAL & REMOTE Highest-paid employee | 40 | $242,166 | $23,848 |
| AUSTIN AHLRICH | SR. VP OF OPERATIONS Highest-paid employee | 40 | $229,428 | $25,292 |
| LINDSEY RECORD | VP MORTGAGE LENDING Highest-paid employee | 40 | $222,704 | $16,976 |
| CHRIS CLARK | CFO Officer | 40 | $215,186 | $18,183 |
| KIM SCHAEFER | SR VICE PRES. MEMBER SERVICES Highest-paid employee | 40 | $206,220 | $15,062 |
| KASHA BARTHOLOMEW | CHAIRPERSON Trustee or director, Officer | 2 | $14,955 | $0 |
| LINDSEY J PUTMAN | SECRETARY/TREASURER Trustee or director, Officer | 2 | $14,724 | $0 |
| MARY PAREDES | DIRECTOR Trustee or director | 2 | $14,135 | $0 |
| DOUG SKOLAUT | DIRECTOR Trustee or director | 2 | $12,540 | $0 |
| THOMAS MATTHEWS | 2ND VICE CHAIR Trustee or director, Officer | 2 | $11,799 | $0 |
| ERIC WISE | 1ST VICE CHAIR Trustee or director, Officer | 2 | $11,641 | $0 |
| JOHN CHOMOUT | DIRECTOR Trustee or director | 2 | $11,541 | $0 |
990 for the year ended December 31, 2023: 17 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DEBORAH MITCHELL | PRESIDENT/CEO Officer | 40 | $1,000,973 | $21,103 |
| LISA BACK | EVP/CFO (LEFT 4/25/23) Officer | 40 | $515,938 | $8,414 |
| JAMES BROWN | EVP/CLO Officer | 40 | $375,132 | $23,742 |
| DANIEL PENBERG | CIO Officer | 40 | $262,736 | $34,720 |
| CHERI HALL | SR. VP OF HUMAN RESOURCES Highest-paid employee | 40 | $226,968 | $19,073 |
| BARBARA CAROL CAIN | SR. VP OF MARKETING Highest-paid employee | 40 | $227,771 | $15,832 |
| LINDSEY RECORD | VP MORTGAGE LENDING Highest-paid employee | 40 | $222,708 | $7,736 |
| ROBERT COLE | SR. VP OF DIGITAL & REMOTE STRATEGY Highest-paid employee | 40 | $209,055 | $15,736 |
| AUSTIN AHLRICH | SR. VP OF OPERATIONS Highest-paid employee | 40 | $200,041 | $23,182 |
| ERIC WISE | DIRECTOR Trustee or director | 2 | $14,514 | $0 |
| MARY PAREDES | DIRECTOR Trustee or director | 2 | $12,217 | $0 |
| KASHA BARTHOLOMEW | CHAIRPERSON Trustee or director, Officer | 2 | $12,045 | $0 |
| LINDSEY J PUTMAN | SECRETARY/TREASURER Trustee or director, Officer | 2 | $11,620 | $0 |
| JOHN CHOMOUT | 1ST VICE CHAIR Trustee or director, Officer | 2 | $11,612 | $0 |
| THOMAS MATTHEWS | 2ND VICE CHAIR Trustee or director, Officer | 2 | $11,076 | $0 |
| DOUG SKOLAUT | DIRECTOR Trustee or director | 2 | $8,583 | $0 |
| JAMES CHAPMAN | DIRECTOR (LEFT 4/1/23) Trustee or director | 2 | $3,034 | $0 |
Address and contacts
- Address (IRS master file)
- 4515 SETON CENTER PARKWAY SUITE 165, AUSTIN, TX 78759-5290
- Principal officer (990 for 2025)
- DEBBIE MITCHELL, POST OFFICE BOX 1089, AUSTIN, TX 787671089
- Signed the 990
- DEBBIE MITCHELL, PRESIDENT/CEO
- Phone
- (512) 469-7000
- Website
- WWW.VELOCITYCU.COM
- Return prepared by
- CLIFTONLARSONALLEN LLP
Mission
THE MISSION OF VELOCITY CREDIT UNION IS TO PROVIDE OUR MEMBERS PERSONALIZED SERVICE AND UNIQUE VALUE AS THEIR LOCAL BANKING ALTERNATIVE.
Program accomplishments
- VELOCITY CREDIT UNION PROVIDES LOANS TO MEMBERS AT LOWER INTEREST RATES, ACCEPTS DEPOSITS, AND PAYS HIGHER DIVIDEND RATES.2025: 1) 35,860 LOANS TO MEMBERS AND MEMBER BUSINESSES FOR A TOTAL OF $539MM 2) ORIGINATED 7,278 LOANS IN 2025 WITH A BALANCE OF $173MM, AND 3) SERVICED 71,624 MEMBERS WITH DEPOSITS OF $863MM.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 74-1200165
- Tax-exempt status
- 501(c)(14): State-chartered credit union
- Donations deductible
- No
- Exempt since
- 1960
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Group exemption
- 2742: CREDIT UNION DEPARTMENT OF THE STATE OF TEXAS
- Assets (IRS master file)
- $1,067,403,243
- Income (IRS master file)
- $66,531,158
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $63,950,131 | $63,004,133 | $1,067,403,243 | IRS |
| 990 | December 2024 | $61,722,513 | $59,293,381 | $1,028,360,466 | XML |
| 990 | December 2023 | $55,312,889 | $53,854,155 | $1,039,075,424 | XML |
| 990 | December 2022 | $46,253,683 | $40,766,636 | $1,044,010,333 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 74-1200165).
Questions about VELOCITY CREDIT UNION
- What is the EIN of VELOCITY CREDIT UNION?
- The employer identification number (EIN) of VELOCITY CREDIT UNION is 74-1200165.
- Is VELOCITY CREDIT UNION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1960.
- Are donations to VELOCITY CREDIT UNION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does VELOCITY CREDIT UNION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of VELOCITY CREDIT UNION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did VELOCITY CREDIT UNION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of VELOCITY CREDIT UNION?
- The 990 for the year ended December 31, 2025 names DEBBIE MITCHELL.
- Who are the officers and directors of VELOCITY CREDIT UNION?
- The 990 for the year ended December 31, 2025 lists 18 people; 18 received compensation from the organization, the highest $1,076,272 (DEBORAH MITCHELL, PRESIDENT/CEO).
- How much revenue does VELOCITY CREDIT UNION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $63,950,131, expenses of $63,004,133 and total assets of $1,067,403,243 at year end.
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