St Anne's Credit Union (EIN 042128094) - 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

1935

Legal Domicile

Principal Officer

Peter Panaggio

Phone

5083247300

Tax Period

2024-01-01 to 2024-12-31

St Anne's Credit Union, founded in 1935, is a mid-sized nonprofit that reported $55.0M in total revenue in fiscal year 2024. Revenue surged 34% from the prior year, signaling strong growth momentum. Expenses of $52.1M left a modest 5% surplus.

Mission

St. Anne's Credit Union (the "Credit Union") provides a variety of financial services to its members through its full service offices and loan centers in southeastern Massachusetts. Its primary deposit products are savings, checking, money market, and term certificate accounts and its primary lending assets are residential mortgage, commercial mortgage and consumer loans.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $48,882,747

Investment Income $6,094,556

Other Revenue $0

TOTAL REVENUE $54,977,303

Expense Breakdown

Grants Paid $179,253

Salaries & Benefits $12,972,526

Fundraising Expenses $0

Other Expenses $38,952,585

TOTAL EXPENSES $52,104,364

Year-over-Year Comparison

	2024	2023	Change
Revenue	$54,977,303	$41,027,576	+0.3%
Expenses	$52,104,364	$39,003,229	+0.3%
Net Income	$2,872,939	$2,024,347	+0.4%

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

166

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

$1,527,522

Total Directors

$138,020

Key Employees

$291,942

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Jo-Ann Bentley	Director	1.00	Director	$762	$3,799	$4,561
Colleen Brady	Director	1.00	Director	$258	$8,098	$8,356
Claire Entel	Director	1.00	Director	$762	$5,819	$6,581
Kevin C Fitzpatrick	Director	1.00	Director	$396	$7,967	$8,363
Bernard J McDonald III	Director	1.00	Director	$396	$4,452	$4,848
Yonaton Sunshine	Director	1.00	Director	$60	$8,098	$8,158
Kevin Vieira	Director	1.00	Director	$60	$6,842	$6,902
William R Bouchard	Chair	1.00	Officer Director	$23,878	$7,962	$31,840
John R Ledwidge	Vice Chair	1.00	Officer Director	$25,673	$7,960	$33,633
Bruce E Fernandes	Treasurer/Clerk	1.00	Officer Director	$16,680	$8,098	$24,778
Eileen Migliozzi	President/CEO	40.00	Officer	$951,846	$108,681	$1,060,527
Peter Panaggio	EVP/CFO	40.00	Officer	$290,086	$86,658	$376,744
Joseph Nash	SVP/Chief Lending Officer	40.00	Key Emp	$239,350	$52,592	$291,942
Michelle Marcos	SVP Human Resources	40.00	Highest	$204,596	$37,798	$242,394
Karen Skinner	SVP Operations & Compliance	40.00	Highest	$186,780	$37,915	$224,695
Jeremy Turner	VP Information Technology	40.00	Highest	$159,610	$41,104	$200,714
Luisa Rochester	VP Residential Lending	40.00	Highest	$158,862	$19,820	$178,682
Robin Levesque	SVP Branch Administration	40.00	Highest	$142,229	$25,353	$167,582

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	$54,977,303	$52,104,364	$1,349,433,146	$2,872,939
2023	$41,027,576	$39,003,229	$1,199,974,669	$2,024,347
2022	$36,103,812	$29,599,500	$1,151,715,010	$6,504,312
2021	$34,865,858	$30,849,982	$1,266,762,131	$4,015,876
2020	$36,357,713	$35,095,621	$1,194,115,586	$1,262,092
2019	$37,686,213	$32,379,928	$1,017,134,867	$5,306,285
2018	$35,553,798	$28,383,231	$960,436,825	$7,170,567

St Anne's Credit Union