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Volunteer Corporate Credit Union and Subsidiary Notes to the Consolidated Financial Statements (In Thousands) Note 13: COMMITMENTS, CONTINGENCIES AND OFF BALANCE SHEET ACTIVITIES (Continued)

Volunteer Corporate Credit Union and Subsidiary Notes to the Consolidated Financial Statements (In Thousands) Note 13: COMMITMENTS, CONTINGENCIES AND OFF BALANCE SHEET ACTIVITIES (Continued)

Regulatoryconsiderations

An integral part of a credit union’s investment policies, procedures and practices is the analysis of all institutions in which it has invested its surplus funds—including corporate credit unions.Part703of the NationalCreditUnionAdministration’s(NCUA)Rules andRegulations states:

“AFederal credit union must conduct and document a credit analysis on an investment and the issuing entity before purchasing it, except for investments issued or fully guaranteed as to principal and interest by theU.S. government or its agencies, enterprises, or corporations or fully insured(including accumulated interest)by theNationalCreditUnionAdministration or theFederalDepositInsuranceCorporation.A Federal credit union must update this analysis at least annually for as long as it holds the investment.”

Assets 2022 2021 2020 2019 2018 3 Volcorp Like Never Before

ThoughNCUA’s investment regulation specifically exempts state-chartered credit unions, many are using the regulation as a guideline in their investment policies, procedures, and practices.Recognizing the analysis of a corporate credit union can be burdensome, we are providing you with this summary analysis ofVolunteer CorporateCreditUnion.

L&E IABILITIESQUITY

D31, ECEMBER

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VolCorp 2022 Financial Report