SEVEN SEVENTEEN CREDIT UNION INC

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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

1957

Legal Domicile

Principal Officer

SHELLY PAWCIO

Phone

3303728100

Tax Period

2023-01-01 to 2023-12-31

SEVEN SEVENTEEN CREDIT UNION INC, founded in 1957, is a mid-sized nonprofit that reported $99.5M in total revenue in fiscal year 2023. Revenue surged 27% from the prior year, signaling strong growth momentum. Expenses of $86.2M left a modest 13% surplus.

Mission

THE PURPOSE OF SEVEN SEVENTEEN CREDIT UNION IS TO PROMOTE THRIFT AMONG ITS MEMBERS; TO ESTABLISH ON A COOPERATIVE BASIS, FACILITIES FOR SAVINGS; TO PROVIDE CREDIT FOR PROVIDENT AND PRODUCTIVE PURPOSES; TO PROVIDE ASSISTANCE TO ITS MEMBERS IN BUDGETING, MONEY MANAGEMENT, THE EFFECTIVE USE OF THEIR ASSETS AND RESOURCES; AND TO ENGAGE IN ALL ACTIVITIES NECESSARY AND INCIDENTAL THERETO.

Program Service Accomplishments

Program 1

DIVIDENDS AND INTEREST PAID TO APPROXIMATELY 112,000 MEMBERS ON THEIR SHARE ACCOUNTS, MONEY MARKET ACCOUNTS, AND CERTIFICATE OF DEPOSIT ACCOUNTS.

Program 2

EMPLOYEE LABOR AND BENEFIT COSTS INCURRED TO SUPPORT SAVINGS SERVICES, LOAN ORIGINATIONS, AND SERVICES THE LOAN PORTFOLIO FOR ITS MEMBERS.

Program 3

OFFICE EXPENSE AND DATA PROCESSING EXPENSE NECESSARY TO SUPPORT MEMBER ACCOUNT AND LOAN ACTIVITY BY PROVIDING MEMBERS ACCESS TO THEIR ACCOUNTS VIA HOME BANKING, ATM NETWORKS, AND IN PERSON AT THE...

OFFICE EXPENSE AND DATA PROCESSING EXPENSE NECESSARY TO SUPPORT MEMBER ACCOUNT AND LOAN ACTIVITY BY PROVIDING MEMBERS ACCESS TO THEIR ACCOUNTS VIA HOME BANKING, ATM NETWORKS, AND IN PERSON AT THE CREDIT UNION OFFICES.

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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 $95,841,543

Investment Income $3,694,497

Other Revenue $0

TOTAL REVENUE $99,536,040

Expense Breakdown

Grants Paid $0

Salaries & Benefits $35,479,385

Fundraising Expenses $0

Other Expenses $50,716,819

TOTAL EXPENSES $86,196,204

Year-over-Year Comparison

	2023	2022	Change
Revenue	$99,536,040	$78,190,190	+0.3%
Expenses	$86,196,204	$62,650,880	+0.4%
Net Income	$13,339,836	$15,539,310	-0.1%

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

394

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

$3,638,576

Total Directors

$9,431

Key Employees

$883,139

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ARLENE MATHES	ASSIST SECRETARY TREASURER	5.00	Director	$2,646	$0	$2,646
JACK WILSTER	VICE CHAIRMAN	5.00	Director	$2,927	$0	$2,927
PAUL MARSHALL	CHAIRMAN	5.00	Director	$2,693	$0	$2,693
DENISE BOYES	DIRECTOR	5.00	Director	$700	$0	$700
RAYMOND MANOFSKY	2ND VICE CHAIRMAN	5.00	Director	$0	$0	$0
CHERYL DIGIACOBBE	SECRETARY TREASURER	5.00	Director	$465	$0	$465
MICHAEL ANNESS	DIRECTOR	5.00	Director	$0	$0	$0
GARY SOUKENIK	PRESIDENT & CEO (THRU 11/2023)	45.00	Officer	$966,512	$80,868	$1,047,380
JOHN DEMMLER	PRESIDENT & CEO	45.00	Officer	$85,302	$0	$85,302
SHELLY PAWCIO	SENIOR VP & CFO	45.00	Officer	$330,636	$72,167	$402,803
DAN HARP	SENIOR VP, LENDING	45.00	Officer	$350,104	$71,731	$421,835
ERIC LANHAM	SENIOR VP, MARKETING	45.00	Officer	$260,377	$61,537	$321,914
MARK MUNNO	SENIOR VP, DELIVERY CHANNELS	45.00	Officer	$277,613	$50,822	$328,435
BRIAN BOETTCHER	SENIOR VP, INNOV & INFO TECH	45.00	Officer	$333,512	$59,383	$392,895
SHELLEY ENGLEMAN	SENIOR VP, RISK MANAGEMENT	45.00	Officer	$245,623	$59,452	$305,075
RYAN HOUGH	SENIOR VP, HUMAN RESOURCES	45.00	Officer	$270,396	$62,541	$332,937
BRETT CARNAHAN	VP COMMERCIAL LENDING MANAGER	45.00	Key Emp	$172,842	$48,203	$221,045
KATHERINE DURIG	VP OPERATIONS MANAGER	45.00	Key Emp	$169,645	$34,946	$204,591
MARY ANN KING	VP INFO TECH MANAGER	45.00	Key Emp	$188,865	$50,756	$239,621
KAREN JORDAN	VP ACCOUNTING/FINANCE MANAGER	45.00	Key Emp	$170,941	$46,941	$217,882
JOSEPH DATCHUK	COLLECTIONS & RECOVERY ATTY	45.00	Highest	$207,653	$53,734	$261,387
ARRON FRANK	LOAN ORIGINATOR	45.00	Highest	$183,564	$50,202	$233,766
SHARI GRANGER	VP IT OPERATIONS MANAGER	45.00	Highest	$160,387	$33,830	$194,217
SUSAN ALIBERTI	VP PYMT SOLUTIONS MANAGER	45.00	Highest	$158,114	$44,964	$203,078
BRENDA BALOG	VP COLLECTIONS MANAGER	45.00	Highest	$154,106	$28,442	$182,548

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	$99,536,040	$86,196,204	$1,634,137,185	$13,339,836
2022	$78,190,190	$62,650,880	$1,540,611,072	$15,539,310
2021	$71,202,563	$54,291,774	$1,389,210,526	$16,910,789
2020	$71,788,480	$58,894,554	$1,259,228,151	$12,893,926
2019	$67,808,329	$55,750,720	$1,114,312,146	$12,057,609
2018	$61,647,246	$50,220,013	$1,006,799,324	$11,427,233