NORTHERN CREDIT UNION (EIN 150580359) - 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

1955

Legal Domicile

Principal Officer

DANIEL W ST HILAIRE

Phone

3157793133

Tax Period

2023-01-01 to 2023-12-31

NORTHERN CREDIT UNION, founded in 1955, is a mid-sized nonprofit in the Public & Societal Benefit sector that reported $41.1M in total revenue in fiscal year 2023. Revenue surged 21% from the prior year, signaling strong growth momentum. Expenses of $39.2M left a modest 4% surplus.

Mission

WE ARE DRIVEN TO IMPROVE THE FINANCIAL LIVES OF THOSE WE SERVE THROUGH EMPOWERMENT AND PERSONALIZED SOLUTIONS.

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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 $37,444,521

Investment Income $1,918,264

Other Revenue $1,705,471

TOTAL REVENUE $41,068,256

Expense Breakdown

Grants Paid $0

Salaries & Benefits $13,029,379

Fundraising Expenses $0

Program Expenses $39,223,945

Other Expenses $26,194,566

TOTAL EXPENSES $39,223,945

Year-over-Year Comparison

	2023	2022	Change
Revenue	$41,068,256	$33,941,010	+0.2%
Expenses	$39,223,945	$30,587,809	+0.3%
Net Income	$1,844,311	$3,353,201	-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

200

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

$811,031

Total Directors

$7,467

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GARY ROWE	CHAIR	1.00	Director	$0	$0	$0
GARY BAKER	VICE CHAIR	1.00	Director	$0	$7,467	$7,467
BRIAN ROBBINS	SECRETARY/TREASURER	1.00	Director	$0	$0	$0
NICOLE DONALDSON	DIRECTOR	1.00	Director	$0	$0	$0
LAUREN MCCARTHY	DIRECTOR	1.00	Director	$0	$0	$0
MITCHELL FRANKLIN	DIRECTOR	1.00	Director	$0	$0	$0
PERRY MCGREW	DIRECTOR	1.00	Director	$0	$0	$0
DANIEL ST HILAIRE	CEO	50.00	Officer	$484,103	$47,078	$531,181
NATHAN HUNTER	CFO	50.00	Officer	$248,436	$31,414	$279,850
JESSICA RIDSDALE	SVP OF HR/COMPLIANCE	50.00	Officer	$0	$0	$0
DANIEL ESTAL	VP LENDING	50.00	Officer	$0	$0	$0
CHRISTINE BOOTH	VP OF MEMBER RELATIONS	50.00	Officer	$0	$0	$0
BONNIE BELFIELD	VP OF OPS OWNER ADVOCATE AND SECURITY	50.00	Officer	$0	$0	$0
ROCHELLE RUNGE	VP OF MARKETING AND DIGITAL ENGAGEMENT	50.00	Officer	$0	$0	$0
ROBERT BARLOW	VP OF COMMERCIAL & HL SALE	50.00	Key Emp	$0	$0	$0
JENNIFER WILTON	AVP OF HR, TRAINING & COMP	50.00	Highest	$0	$0	$0
MICHAEL WOODS	AVP OF FINANCE & ACCOUNTIN	50.00	Highest	$0	$0	$0
LUCAS ST HILAIRE	ITO MANAGER	50.00	Highest	$0	$0	$0
JAMES GIFFORD	HOME LENDING PROFESSIONAL	40.00	Highest	$0	$0	$0
ROBERT HAYES	DIRECTOR OF CONSUMER LENDING	50.00	Highest	$0	$0	$0
TIMOTHY TOUCHETTE	AVP OF OPERATIONS	50.00		$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
2024	No data	No data	No data	No data
2023	$41,068,256	$39,223,945	$602,800,529	$1,844,311
2022	$33,941,010	$30,587,809	$598,798,438	$3,353,201
2021	$31,512,409	$25,901,041	$435,001,865	$5,611,368
2020	$24,703,645	$22,684,367	$364,371,821	$2,019,278
2019	$21,799,144	$20,140,134	$283,063,179	$1,659,010

NORTHERN CREDIT UNION