Granite State Credit Union (EIN 020227484) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1945

Legal Domicile

Principal Officer

Michele M Plaza

Phone

6036682221

Tax Period

2025-01-01 to 2025-12-31

Granite State Credit Union, founded in 1945, is a mid-sized nonprofit that reported $52.1M in total revenue in fiscal year 2025. Expenses of $47.1M left a modest 10% surplus.

Mission

Deposits and lending to credit union members

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $34,722,807

Investment Income $6,463,400

Other Revenue $10,945,218

TOTAL REVENUE $52,131,425

Expense Breakdown

Grants Paid $0

Salaries & Benefits $19,785,539

Fundraising Expenses $0

Other Expenses $27,322,756

TOTAL EXPENSES $47,108,295

Year-over-Year Comparison

	2025	2024	Change
Revenue	$52,131,425	$48,937,891	+0.1%
Expenses	$47,108,295	$42,725,659	+0.1%
Net Income	$5,023,130	$6,212,232	-0.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

175

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$2,691,606

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DENISE L BARSTOW	PresidentCEO	45.00	Officer	$1,032,716	$37,260	$1,069,976
MICHELE M PLAZA	Executive VP	45.00	Officer	$636,416	$46,345	$682,761
LISA R BAROWSKI	Executive VPCFO	45.00	Officer	$521,725	$23,717	$545,442
KAREN L LAPLUME	Executive VPCOO	45.00	Officer	$362,483	$30,944	$393,427
SAMANTHA J MULVANEY	SVP Lending Risk	45.00	Highest	$221,308	$39,845	$261,153
WILLIE A HOUSE	SVP Technology	45.00	Highest	$224,199	$28,393	$252,592
LISA D EGAN	VP Human Resources	45.00	Highest	$213,532	$37,161	$250,693
TRACEY A HEALEY	VP Lending	45.00	Highest	$198,537	$17,641	$216,178
ALICIA E MATTSON	VP Branches	45.00	Highest	$174,190	$39,598	$213,788
ALLEN PATTEE	Board Member	0.00	Director	$0	$0	$0
PAUL E RAMSEY	Board Member	0.00	Director	$0	$0	$0
GERARD FERRARI	Board Member	0.00	Director	$0	$0	$0
ROBERT A FLEURY	Board Member	0.00	Director	$0	$0	$0
DEBORAH VANDEBERGHE	Chairman	0.00	Director	$0	$0	$0
LORRIE PIPER	Vice Chairman	0.00	Director	$0	$0	$0
CASSANDRA REEDER	Board Member	0.00	Director	$0	$0	$0
CATHERINE M PIKE	Board Member	0.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$52,131,425	$47,108,295	$744,839,651	$5,023,130
2024	No data	No data	No data	No data
2023	$43,417,675	$36,911,263	$697,041,831	$6,506,412
2022	$34,223,432	$29,408,308	$634,204,646	$4,815,124
2021	$31,794,091	$26,112,975	$601,479,230	$5,681,116
2020	$29,297,971	$25,601,506	$530,155,859	$3,696,465
2019	$28,498,476	$24,357,416	$433,003,273	$4,141,060
2018	$25,420,058	$22,086,166	$414,148,244	$3,333,892

Granite State Credit Union