Canals & Trails 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

1956

Legal Domicile

Principal Officer

Janet Schuler

Phone

8158387159

Tax Period

2024-01-01 to 2024-12-31

Canals & Trails Credit Union, founded in 1956, is a community nonprofit that reported $1.2M in total revenue in fiscal year 2024. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $1.1M left a modest 9% surplus.

Mission

Illinois state chartered credit union operated for the mutual benefit of its members.

Program Service Accomplishments

Program 1

Credit union makes and services consumer and real estate loans to members. Total number of loans outstanding at 12/31/24 was 20,346 for a total of $9,239,169. The credit union also offers an...

Credit union makes and services consumer and real estate loans to members. Total number of loans outstanding at 12/31/24 was 20,346 for a total of $9,239,169. The credit union also offers an ATM/Debit card program, money orders, overdraft lines of credit, and share secured credit cards.

Program 2

Credit union pays out dividends to its members on share deposit accounts at a market rate of interest. Total number of share accounts at 12/31/24 were 5,363 for a total of $30,015,239. The credit...

Credit union pays out dividends to its members on share deposit accounts at a market rate of interest. Total number of share accounts at 12/31/24 were 5,363 for a total of $30,015,239. The credit union also offers certificates of deposits, IRA accounts, club accounts, and money market accounts.

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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 $679,819

Investment Income $478,904

Other Revenue $89,018

TOTAL REVENUE $1,247,741

Expense Breakdown

Grants Paid $0

Salaries & Benefits $456,922

Fundraising Expenses $0

Other Expenses $677,851

TOTAL EXPENSES $1,134,773

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,247,741	$1,105,547	+0.1%
Expenses	$1,134,773	$1,018,723	+0.1%
Net Income	$112,968	$86,824	+0.3%

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

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

$108,555

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Jim Wartenberg	Chairman	2.00	Officer Director	$0	$0	$0
Brenda Piry	Vice Chairman	2.00	Officer Director	$0	$0	$0
Edward Rossetto	Secretary	2.00	Officer Director	$0	$0	$0
Gerry Gadson	Treasurer	2.00	Officer Director	$0	$0	$0
Susan Dufault	Director	2.00	Director	$0	$0	$0
David Oxley	Director	2.00	Director	$0	$0	$0
Max Woods	Director	2.00	Director	$0	$0	$0
Janet Schuler	President	40.00	Officer	$94,050	$14,505	$108,555

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	$1,247,741	$1,134,773	$33,344,978	$112,968
2023	$1,105,547	$1,018,723	$33,387,211	$86,824
2022	$1,056,974	$966,955	$35,954,097	$90,019
2021	$1,002,433	$844,430	$36,670,160	$158,003
2020	$927,238	$810,029	$27,893,917	$117,209
2019	$1,004,000	$830,114	$23,607,367	$173,886
2018	$934,481	$805,104	$22,341,888	$129,377