SUPERIOR SAVINGS 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

1968

Legal Domicile

Principal Officer

DEBORAH CARPENTER

Phone

3308330751

Tax Period

2023-01-01 to 2023-02-28

SUPERIOR SAVINGS CREDIT UNION, founded in 1968, is a micro nonprofit that reported $5K in total revenue in fiscal year 2022. Revenue fell 99% from the prior year — a significant decline worth monitoring. Expenses of $522K exceeded revenue, resulting in a 9971% operating deficit.

Mission

THE BOARD OF DIRECTORS HAS DECLARED ITS INTENT THAT GRANTING LOANS TO MEMBERS IS THE PRIMARY MISSION OF THE CREDIT UNION. LENDING IS, AND WILL CONTINUE TO BE, AN INTEGRAL FACTOR IN THE SUCCESS OF THE CREDIT UNION.

Program Service Accomplishments

Program 1

MEMBER LOANS - THE CREDIT UNION STRIVES TO PROVIDE ITS MEMBERS WITH FINANCIAL FLEXIBILITY AND ENCOURAGE SAVINGS WITH VARIOUS TYPES OF LOANS IN THE FOLLOWING CATEGORIES: AUTOMOBILE LOANS, MORTGAGE...

MEMBER LOANS - THE CREDIT UNION STRIVES TO PROVIDE ITS MEMBERS WITH FINANCIAL FLEXIBILITY AND ENCOURAGE SAVINGS WITH VARIOUS TYPES OF LOANS IN THE FOLLOWING CATEGORIES: AUTOMOBILE LOANS, MORTGAGE LOANS, SHARE-SECURED LOANS, HOME IMPROVEMENT LOANS, PERSONAL LOANS, AND OTHER VARIOUS TYPES.

Program 2

DEPOSITORY ACCOUNTS - THE CREDIT UNION STRIVES TO PROVIDE ITS MEMBERS WITH FINANCIAL FLEXIBILITY AND ENCOURAGE SAVINGS WITH VARIOUS TYPES OF DEPOSITORY ACCOUNTS. THE CREDIT UNION CURRENTLY OFFERS...

DEPOSITORY ACCOUNTS - THE CREDIT UNION STRIVES TO PROVIDE ITS MEMBERS WITH FINANCIAL FLEXIBILITY AND ENCOURAGE SAVINGS WITH VARIOUS TYPES OF DEPOSITORY ACCOUNTS. THE CREDIT UNION CURRENTLY OFFERS DEPOSITORY ACCOUNTS IN VARIETIES SUCH AS DRAFT ACCOUNTS, CHECKING ACCOUNTS, SAVINGS ACCOUNTS, CERTIFICATE OF DEPOSIT ACCOUNTS, INDIVIDUAL RETIREMENT ACCOUNTS, CHRISTMAS CLUB ACCOUNTS, AND OTHER VARIOUS TYPES.

Program 3

DEBIT CARD PROGRAM - THE CREDIT UNION STRIVES TO PROVIDE ITS MEMBERS WITH FINANCIAL FLEXIBILITY AND ENCOURAGE SAVINGS WITH THE ALLOWANCE OF A DEBIT CARD.

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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 (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $145,615

Investment Income $-141,679

Other Revenue $1,243

TOTAL REVENUE $5,179

Expense Breakdown

Grants Paid $0

Salaries & Benefits $177,024

Fundraising Expenses $0

Other Expenses $344,563

TOTAL EXPENSES $521,587

Year-over-Year Comparison

	2022	2021	Change
Revenue	$5,179	$1,013,726	-1.0%
Expenses	$521,587	$1,067,164	-0.5%
Net Income	$-516,408	$-53,438	+8.7%

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

$68,010

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SANDRA NORMAN	PRESIDENT	2.00	Officer Director	$0	$0	$0
JEAN FRUCHEY	DIRECTOR	2.00	Director	$0	$0	$0
SHARI MIDDAUGH	SECRETARY	2.00	Officer Director	$0	$0	$0
DAVID DOURM	DIRECTOR	2.00	Director	$0	$0	$0
DONALD GRAY	DIRECTOR	2.00	Director	$0	$0	$0
DAWN DOWNING	DIRECTOR	2.00	Director	$0	$0	$0
DEBORAH J CARPENTER	CEO	40.00	Officer	$66,556	$1,454	$68,010

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
2023	$5,179	$521,587	No data	$-516,408
2022	$1,013,726	$1,067,164	$26,661,638	$-53,438
2021	$1,099,083	$1,039,157	$29,855,974	$59,926
2020	$1,183,821	$1,138,183	$27,392,777	$45,638
2019	$1,416,382	$1,229,169	$24,298,473	$187,213
2018	$1,259,699	$1,228,901	$22,298,302	$30,798