HOLY ROSARY CREDIT UNION

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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

1962

Legal Domicile

Principal Officer

BRIAN THERRIEN

Phone

6033326840

Tax Period

2023-01-01 to 2023-12-31

HOLY ROSARY CREDIT UNION, founded in 1962, is a mid-sized nonprofit that reported $20.6M in total revenue in fiscal year 2023. Revenue surged 22% from the prior year, signaling strong growth momentum. Expenses of $17.6M left a modest 15% surplus.

Mission

TO BE A RESPONSIBLE, COMMUNITY-FOCUSED ORGANIZATION MEMBERS CAN TRUST TO HELP THEM ACHIEVE THEIR FINANCIAL GOALS BY DEMONSTRATING COMPASSION, EMBRACING INNOVATION, REMAINING FLEXIBLE AND DELIVERING EXCEPTIONAL SERVICE

Program Service Accomplishments

Program 1

MAINTENANCE OF MEMBERS' SHARE, DEPOSIT, AND LOAN ACCOUNTS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $17,848,462

Investment Income $2,767,535

Other Revenue $0

TOTAL REVENUE $20,615,997

Expense Breakdown

Grants Paid $11,500

Salaries & Benefits $6,818,011

Fundraising Expenses $0

Other Expenses $10,783,893

TOTAL EXPENSES $17,613,404

Year-over-Year Comparison

	2023	2022	Change
Revenue	$20,615,997	$16,865,040	+0.2%
Expenses	$17,613,404	$14,350,254	+0.2%
Net Income	$3,002,593	$2,514,786	+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

111

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

$999,525

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DANA FLANDERS	CHAIRMAN	2.00	Officer Director	$0	$0	$0
RONALD VACHON	VICE CHAIRMAN	2.00	Officer Director	$0	$0	$0
SUZANNE WILKINS	DIRECTOR	2.00	Director	$0	$0	$0
RICHARD BRUNELLE	DIRECTOR	2.00	Director	$0	$0	$0
LEONARD PINAULT	DIRECTOR	2.00	Director	$0	$0	$0
ANNE BROWN	TREASURER	2.00	Officer Director	$0	$0	$0
KATHY GORDON	SECRETARY	2.00	Director	$0	$0	$0
BRIAN HUGHES	PRESIDENT/CEO	45.00	Officer	$342,249	$28,099	$370,348
ROSEMARY SHIELDS	EVP/COO	45.00	Officer	$206,333	$22,568	$228,901
BRIAN THERRIEN	CHIEF FINANCIAL OFFICER	45.00	Officer	$190,792	$11,787	$202,579
KEN MAUSER	CHIEF INFORMATION OFFICER	45.00	Officer	$177,274	$20,423	$197,697
NICOLE HUNTRESS	VP OF DIGITAL OPERATIONS & COMPLIANCE	45.00	Highest	$108,401	$17,714	$126,115
CYNTHIA MCCORMICK	SVP OF MEMBER EXPERIENCE	45.00	Highest	$163,956	$1,118	$165,074
TRAVIS BISSONNETTE	SVP OF LENDING	45.00	Highest	$151,140	$35,491	$186,631

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
2024	No data	No data	No data	No data
2023	$20,615,997	$17,613,404	$423,821,520	$3,002,593
2022	$16,865,040	$14,350,254	$413,178,224	$2,514,786
2021	$15,434,385	$13,427,968	$399,129,935	$2,006,417
2020	$15,309,975	$13,835,256	$336,061,351	$1,474,719
2019	$15,761,944	$14,376,007	$309,146,063	$1,385,937
2018	$14,336,225	$12,677,291	$281,975,528	$1,658,934