Joining the VACo/VML Virginia Investment Pool requires just three steps. The joining documents – a model ordinance/resolution, Trust Joinder Agreement, Trust Agreement, and VIP registration form – can be found on the Documents & Resources page.
VML/VACo Finance staff is happy to answer any questions you might have. We are also available to attend governing body meetings to provide a presentation on VIP. If you have questions or would like to schedule a briefing, please don’t hesitate to contact us.
(Elected Treasurers are exempted from this requirement)
Joining the trust is legally authorized as a joint exercise of public powers under Va. Code Section 15.2-1-1300. The law requires counties, cities or towns to adopt an ordinance to approve any arrangement to exercise powers jointly with other governmental units. Commissions, boards or authorities that do not typically adopt ordinances may use a resolution for this purpose.
Please note that effective July 1, 2017, elected Treasurers do not need to complete this step. The 2017 General Assembly passed the “VIP bill,” which authorizes elected Treasurers to participate in jointly administered pools such as VIP without passing an ordinance.
The Treasurer or Chief Investment Officer signs a “Trust Joinder Agreement” to make their political subdivision a party to the VIP Trust Agreement and a participant in the Virginia Investment Pool.
The final step is to complete a VIP registration form and submit it along with the executed ordinance/resolution (if required) and Trust Joinder Agreement. Upon receipt, we will open a Participant account(s) for your political subdivision. We will then send you wire/deposit instructions for your initial transfer to Wells Fargo (the custodian bank).
8 East Canal Street
Richmond, VA 23219
Please contact us by phone or email or simply fill in the form to submit your comment or question, or to request additional information about our programs. Thank you.
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