LEGE
What makes VolCorp a Second Mile institution?
END TRAILHEAD FORUM25
Charting a Course for Success!
Member Services and Strategic Partnerships
SERVICES LEADERSHIP
Corporate Reports and VolCorp Leadership
TRAIL
WHAT MAKES VOLCORP A SE
We hope you’ve already seen firsthand that “second we serve. It’s our commitment to go beyond the the kind of partnership that makes a meaningful
LHEAD
SECOND MILE INSTITUTION?
second mile” is more than a philosophy—it’s how the expected, exceed the ordinary, and provide meaningful difference to your credit union.
FORU
CHARTING A COURSE
FORUM25 launched Monday evening provided a endees with a conference and memorable experiences. The the 16th Annual CU4Kids
UM25
COURSE FOR SUCCESS!
ening at the Welcome Reception and ence filled with dynamic speakers The journey came to a close with CU4Kids Golf Classic.
ACH Services
Investment and Brokerage Services
SimpliCD and SimpliCD Issuance
vPortfolio Online Trading
Portfolio Analytics & Bond Accounting
Safekeeping
ALM Services and Investment Training
LIQUIDITY, INVESTMENT, VolCorp specializes in dynamic investment products, and incompar
Scan for deta Products an
VICES
INVESTMENT, AND PAYMENT NEEDS payment solutions, tailor-made incomparable member care.
ails about our nd Services
Item Processing Services
Cash Vault and Coin/Currency Services
EFT Consulting Services
Instant Payments - FedNow and RTP
Loans, Liquidity Services, & Line of Credit
Domestic and International Wire Transfers
STRATEGIC PARTNERSHIPS
VolCorp offers a growing collection made possible through carefully all tailored to address your cr
ACUSi – Indirect lending
Allpoint – Surcharge-free ATM network
Card@Once – Instant Issue cards
CU Business Group – Business Lending
Dolphin Debit – Turnkey ATM outsourcing
Elan – Credit Card Programs
MiniBranch – All-in-one digital
PULSE Network – Point-of
Sage Direct – Printed and e
Scan for deta Strategic
VICES
PARTNERSHIPS
collection of products and services
efully selected business partners; credit union’s growing needs.
ams digital connection
-Sale Network
e-Statements
ails about our Partners
TransFund – Debit & Credit Processing
Veep – Allows early access to earned wages
VolCorp Design – creative design services
Sallie Mae Student Loan Program
ERSHIP
Senior Leadership Team,
Supervisory Commi ee
CHAIRMAN & PRESIDENT’S REPORT
JOHN JACOWAY Board Chairman
Looking back, it is great to see how 2025 evolved and how VolCorp made progress on a number of strategic fronts. More importantly, it is great see how the progress does, and will, tie into progress for our credit unions through the services and efficiencies we are able to provide them as many of the projects, either completed or begun, in 2025 tie directly into our revamped mission – “building strong relationships through tailored solutions to propel credit unions toward success.” 2025 was the first of a threeyear plan geared toward investing in VolCorp’s future, and the futures of our credit unions, now The seeds planted in the past year will make way for many of the exciting things to come over the years ahead.
As we look to this year of laying foundation in order to build upon it moving forward, we touched on a lot of areas to build that inner strength from the way we communicate to you, the way we protect
2025 was the first o geared toward investin and the futures of ou
your data (and ours), the further development of payments strategies we can help you implement, the way we store and use data, and the partnerships we developed on your behalf. By strengthening our foundation and market position in many ways, we look to prioritize relevance – yours and ours – over the very long-term and to do so by ensuring our messaging, our value proposition, our product offerings, and our safety and soundness. A er all, if we are not safe and sound for you in ALL economic environments, even in the unforeseen black swan type of events, then do we really offer a long-term value proposition? No. So, we strive to sustain what you need from us in any environment and continue to build the house in a way such that that never changes – just as we have since 1981. continued...
of a three-year plan ng in VolCorp’s future, ur credit unions, now.
JEFF MERRY President and Chief Executive Officer
Chairman & President’s Report Continued...
Extending our story beyond just VolCorp, our wholly owned CUSO, Symphony LLC., also had an incredible 2025. Symphony launched two new services during the year, launched a new website, and significantly increased engagements as a byproduct, primarily, of
Symphony was a response directly to you telling us what you needed from a new CUSO...
strong references from credit unions and other respected leaders in the industry. Symphony also continued to build its brand across the industry and across the country as it has now served credit unions of all asset levels and levels of sophistication in 13 states despite being a relatively new entity to the movement The response to those who have go en acquainted with Symphony has been remarkable due in large part to the fact Symphony was a response directly to you telling us what you needed from a new CUSO and us responding to that feedback accordingly. The future for Symphony is bright.
VolCorp was built on a legacy of outstanding service We never let that detail get lost in all the noise of innovation, competition, strategic initiatives, or hopeless appreciation for where we come from and where we are going We also know continuing that legacy of outstanding service is paramount to our ability to help
propel you toward success and, more importantly, doing our part to help you propel your members to success in their financial lives. We don’t forget the ‘why’ and we never will It defines us as a corporate and it ties nicely into the values that guide us in all we do –partnership, commitment, stability, and honor We value the partnership with our credit unions more than you know. We are committed to your success the way a strategic partner should be. We provide the stability you need to be able to count on in turbulent times and smooth ones. And, without a doubt, we operate honorably in all we do; a er all, we are doing everything we do for you. Stay tuned to see how we build upon what was laid in 2025 with exciting announcements to come
We don’t forget the ‘why’ and we never will. It defines us as a corporate and it ties nicely into the values that guide us in all we do –partnership, commitment, stability, and honor.
We are forever grateful for your continued trust and support. And, we are honored to come to work every day focused on you, your members, and building a stronger future together.
TREASURER’S REPORT
RON SMITH Treasurer
Throughout 2025, the financial services landscape continued to change, underscoring the importance of adaptability, discipline, and strategic clarity Amid ongoing innovation and change within VolCorp, we remained focused on an overarching objective: ensuring we are well-positioned to serve our members and support the long-term relevancy of credit unions no ma er what comes next.
Our approach emphasizes alignment between operations, capabilities, and balance sheet strength While the ways we support member credit unions continue to advance, our commitment to sound financial management remains constant Liquidity management remains a cornerstone of our financial strength, and evolving payment trends only reinforce its importance. VolCorp’s balance sheet reflects this priority, with a strong concentration in cash and high-credit-quality assets. In addition, all investments remained fully compliant with regulatory and policy requirements throughout 2025
At year-end:
Cash and cash equivalents represented 51 Ÿ percent of total assets
Cash, cash equivalents, and marketable securi- Ÿ ties comprised 98 percent of total assets
Variable-rate instruments represented 95 Ÿ percent of the securities portfolio, limiting its net unrealized loss to less than 1 percent of the portfolio’s book value despite declining shortterm rates in 2025
Over 99 percent of investment holdings were Ÿ issued or guaranteed by U S. government agencies
The Tier 1 risk-based capital ratio was 107 87 Ÿ percent, well above the regulatory “well capitalized” threshold of 6.00 percent
Financial performance remained strong in 2025. Tier 1 capital increased by more than $9 million to $188 8 million. While providing competitive deposit rates and upholding asset quality standards, net interest income reached $25.8 million. Non-interest income contributed $8 8 million A er carefully managed non-interest expenses of $21 0 million, net income for the year totaled $13.6 million.
Capital metrics also remain healthy, with a Tier 1 leverage ratio of 11 42 percent, well above the 5 00 percent “well capitalized” regulatory threshold. Retained earnings finished at 7 49 percent, reinforcing our commitment to longterm financial strength.
Liquidity management remains a cornerstone of our financial strength, and evolving payment trends only reinforce its importance.
VolCorp’s Asset-Liability Commi ee (ALCO) continues to actively oversee asset-liability management, interest rate risk, liquidity, investments, and credit risk, ensuring VolCorp maintains the balance between stability, member support, and growth
In an environment defined by change, one thing remains the same, VolCorp is well-positioned to support our members in 2026 and beyond.
SUPERVISORY COMMITTEE’S REPORT
NICK ARVON Committee Chair
The Supervisory Commi ee is responsible for overseeing management practices and policies, safeguarding member assets, and ensuring the integrity and reliability of VolCorp’s financial reporting. In fulfilling these responsibilities, the Commi ee oversees the external and internal audit functions; inspects, or causes to be inspected, the securities portfolio, cash, and related accounts; evaluates internal controls over financial reporting; and reports its findings to the Board of Directors.
Carr, Riggs & Ingram, LLC, an independent public accounting firm, was engaged to perform the annual audit of VolCorp The firm issued an unmodified opinion on the consolidated financial statements of Volunteer Corporate Credit Union as of December 31, 2025, and for the year then ended
The Commi ee engaged Marla Mackie, CPA, to perform the internal audit function during 2025. The results of all internal audits, along with management responses, were reviewed by the Commi ee. The Commi ee also reviewed the results of an independent information
technology audit performed during 2025. In addition, Information Security reports were provided to the Commi ee monthly by Cody Lee, Information Security Officer, and were evaluated as part of the Commi ee’s oversight responsibilities.
Based on the results of the internal audits, security reports, external audits and the joint examination by Tennessee Department of Financial Institutions and the National Credit Union Administration conducted during 2025, the Commi ee believes that it has properly represented the interests of the membership and its responsibilities to VolCorp.
NICK ARVON Committee Chair West Virginia Federal Credit Union
BLAKE WOOD UPS Employees Credit Union
2025 SUPERVISORY COMMITTEE MEMBERS
The Commi ee acknowledges and appreciates the support of the Board of Directors, management, and staff, and commends their continued commitment to strong governance and service to member credit unions.
PAM CASE Jack Daniel Employees Credit Union
DAVID KING Heritage South Community Credit Union
KAREN WOODALL Veritas Federal Credit Union
PHILLIP COCHRAN
Chief Investment Officer
Series 7 & 63
JEFF MERRY President and Chief Executive Officer
TYLER
MCNAIR Chief Risk Officer
LEADE
JEFF DATO EVP and Chief Operating Officer
CHRISTINA ADKISON Chief Experience Officer
SENIOR
ERSHIP
JUSTIN HOLT Chief Financial Officer
TODD
DIREC
member Debbie Jones Union retired on 3/31/25. ACOWAY Chairman
BRIAN TROTTER EPB Employees Credit Union
OF
CTORS BOARD
JUDY HESTER Northern Kentucky Federal Credit Union ERIN WALTER Brown-Forman Employees Credit Union MIKE COOPER Secretary AllWealth Federal Credit Union
ADDRESS
ADDRESS 2460 Atrium Way Nashville, TN 37214
2460 Atrium Way Nashville, TN 37214
ONLINE volcorp.org vportfolio.org symphonycuso.org volcorpdesign.org
ONLINE volcorp.org vportfolio.org symphonycuso.org volcorpdesign.org
NUMBERS
(615) 232-7900 (800) 470-3444
Operations Fax: (615) 232-7979
EXTENSIONS
1 - Member Services/Operations/Item Processing/ACH
2 - Investment Sales
3 - Marketing and Business Development
4 - Administration and President’s Office
8 - Symphony CUSO
9 - Dial By Name Directory
0 - Operator
HOURS
Monday, Tuesday, Wednesday and Friday: 7:30 a.m. to 4:30 p.m. (Central time). Thursday: 8:30 a.m. to 4:30 p.m. (Central time).
Our Member Services Department closes at 4:15 p.m. (Central time) each day Office closings are coordinated with the Federal Reserve Bank holiday schedule.
Savings Federally Insured to at least $250,000. NCUA, a U.S. Government Agency