At the end of 2024, however, VPFCU posted income of $1,234,649. This was achieved by maintaining strong net interest income ($1,085,207), generating fee-based income ($109,921) and controlling credit losses ($135,806), according to the credit union’s 2024 fourth-quarter Call Report.

Ronnye Parma, a credit union veteran who has worked at several financial cooperatives since the 1980s, has been serving as VPFCU’s president/CEO since October 2023.

“It’s been quite an adventure and a lot of hard work,” Parma said. “I have a great team. We are just glad that we were able to make the credit union survive.”

The new VPFCU board members are Anthony Kresta, Randy Dornan, Mike Allbright, Jonas Robinson and Jack Hill.

Chartered in 1974, the credit union currently employs seven people who operate one branch and serve 2,686 members in the communities of Carrollton, Addison and Farmers Branch.

“The recovery of Valwood Park reflects the extraordinary efforts of its leadership team, staff and members,” NCUA Chairman Kyle Hauptman said in a prepared statement. “Working in collaboration with the NCUA, the new management team saved the credit union from failure by enhancing controls and mitigating risks. Valwood Park is now in a stronger position to provide vital financial services and enhance the financial well-being of residents in Dallas’s Metrocrest communities.”