BAXTER CREDIT UNION (EIN 237250155) - 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

1981

Legal Domicile

Principal Officer

Mike Valentine

Phone

8003887000

Tax Period

2025-01-01 to 2025-12-31

BAXTER CREDIT UNION, founded in 1981, is a major nonprofit in the Public & Societal Benefit sector that reported $238.3M in total revenue in fiscal year 2018. Revenue surged 24% from the prior year, signaling strong growth momentum. Expenses of $203.3M left a modest 15% surplus.

Mission

The organization is a full service, state-chartered credit union providing a broad range of loan and deposit products and other financial services to its members located throughout the US and Puerto Rico using various channels including branches, a call center, and the internet.

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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 $426,818,884

Investment Income $80,549,355

Other Revenue $0

TOTAL REVENUE $507,368,239

Expense Breakdown

Grants Paid $0

Salaries & Benefits $107,817,442

Fundraising Expenses $0

Program Expenses $0

Other Expenses $355,271,289

TOTAL EXPENSES $463,088,731

Year-over-Year Comparison

	2025	2024	Change
Revenue	$507,368,239	$482,765,408	+0.1%
Expenses	$463,088,731	$459,652,967	+0.0%
Net Income	$44,279,508	$23,112,441	+0.9%

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

N/A

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

$12,687,951

Total Directors

$379,500

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Michael Valentine	President, CEO and Treasurer	40	Officer	$1,995,776	$0	$1,995,776
James Block	EVP/Chief Operating Officer	40	Officer	$948,115	$0	$948,115
Carl Presto	EVP/CFO	40	Officer	$937,823	$0	$937,823
David Blum	EVP Corporate Relationships and US Service Centers	40	Officer	$841,731	$0	$841,731
Lisa Baron	EVP/CHRO	40	Officer	$785,721	$0	$785,721
Edwin T Watson	Wealth Advisor	40	Highest	$569,567	$0	$569,567
Scott Zulpo	EVP/CIO	40	Officer	$528,026	$0	$528,026
John Anderson	Investment Advisors	40	Highest	$508,116	$0	$508,116
David Brydun	SVP/Chief Lending Officer	40	Officer	$495,295	$0	$495,295
Dan Parsons	SVP US Service Centers	40	Officer	$494,917	$0	$494,917
Jill Sammons	SVP/Marketing and Brand Strategy	40	Officer	$493,277	$0	$493,277
Kerriann Mills	EVP/Chief Legal Officer	40	Officer	$468,989	$0	$468,989
Kristi Mertens	Managing Director, Wealth Advisors	40	Highest	$453,519	$0	$453,519
Heather Wright	Wealth Advisors	40	Highest	$421,485	$0	$421,485
Brian Farrissey	Wealth Advisor	40	Highest	$409,433	$0	$409,433
Charles Smith	SVP/Controller	40	Officer	$405,108	$0	$405,108
Bhavna Guglani	SVP, Chief Digital Officer	40	Officer	$402,655	$0	$402,655
Stephenie Southard	SVP/CISO	40	Officer	$399,683	$0	$399,683
Maria Garcia	SVP/Member Operations	40	Officer	$376,230	$0	$376,230
Patty Mitchell	VP of Compensation	40	Officer	$352,835	$0	$352,835
Brett Engel	VP, Finance and Risk	40	Officer	$342,840	$0	$342,840
Joe McCarthy	VP, Real Estate Lending	40	Officer	$334,506	$0	$334,506
Davi Allen	VP, Consumer Lending	40	Officer	$332,277	$0	$332,277
Jordan Mueller	VP, Program Delivery	40	Officer	$321,812	$0	$321,812
John Sahagian	VP	40	Officer	$319,209	$0	$319,209
Dmitriy Melnick	VP, Software Development	40	Officer	$309,602	$0	$309,602
Keith Parris	VP, Contact Center Opts	40	Officer	$290,359	$0	$290,359
Harvey Rindt	VP, Compliance	40	Officer	$264,853	$0	$264,853
Dan Cook	VP, US Retail Branches	40	Officer	$246,312	$0	$246,312
Michael Curran	Chairman	40	Director	$49,500	$0	$49,500
Paul Martin	Director	40	Director	$38,500	$0	$38,500
Christine McCauley	Director	40	Director	$38,500	$0	$38,500
Christine Fleming	Director and Secretary	40	Director	$38,500	$0	$38,500
Ola Snow	Director	40	Director	$33,000	$0	$33,000
Brett Craig	Director	40	Director	$33,000	$0	$33,000
Al Nietzel	Director	40	Director	$33,000	$0	$33,000
Betty Larson	Director	40	Director	$33,000	$0	$33,000
David Strauss	Director	40	Director	$33,000	$0	$33,000
Bill Costa	Director	40	Director	$33,000	$0	$33,000
Robyn Wells	Director	40	Director	$16,500	$0	$16,500

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	$507,368,239	$463,088,731	$6,337,833,454	$44,279,508
2024	$482,765,408	$459,652,967	$6,018,343,455	$23,112,441
2023	$443,875,303	$404,556,766	$5,895,172,593	$39,318,537
2023	$443,875,303	$404,556,766	$5,895,172,593	$39,318,537
2022	$350,442,030	$293,104,697	$5,751,484,149	$57,337,333
2021	$316,168,145	$240,408,034	$5,072,223,238	$75,760,111
2020	$274,030,926	$239,877,914	$4,476,609,953	$34,153,012
2019	$268,990,676	$227,921,476	$3,921,954,593	$41,069,200
2018	$238,305,161	$203,333,006	$3,483,954,445	$34,972,155

BAXTER CREDIT UNION