Volunteer Corporate Credit Union and Subsidiary Notes to the Consolidated Financial Statements (In

Thousands)

The following table presents the assets carried at fair value subject to measurement on a recurring basis. Assets are presented as of December 31, 2022 and 2021, by their nature and by FASB ASC 820, Fair Value Measurements and Disclosures, valuation hierarchy:

There were no liabilities carried at fair value for 2022 and 2021.

The following valuation method was used for assets carried at fair value as of December 31, 2022 and 2021:

 U.S. Government agency securities, asset‐backed securities, mortgage‐backed securities, and SBA‐backed securities – fair values are estimated using pricing models that use observable inputs or quoted prices of securities with similar characteristics. These securities are classified within Level 2 of the valuation hierarchy.