MAX 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

1955

Legal Domicile

Principal Officer

MARTIN HEAD

Phone

8007766776

Tax Period

2024-01-01 to 2024-12-31

MAX CREDIT UNION, founded in 1955, is a major nonprofit that reported $123.8M in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion. The organization ran a surplus of $23.3M, a strong 19% operating margin.

Mission

MAX IS A STATE-CHARTERED COMMUNITY CREDIT UNION SERVING APPROXIMATELY 126,000 MEMBERS IN THE MONTGOMERY, ALABAMA AND SURROUNDING AREAS.

Program Service Accomplishments

Program 1

IN OUR EFFORTS TO PROMOTE THRIFT AMONG OUR MEMBERS, MAX PROVIDES COMPETITIVE SAVINGS PRODUCTS, WHICH INCLUDE SAVINGS, CHECKING, ANDCERTIFICATE OF DEPOSIT ACCOUNTS AS WELL AS IRA SAVINGS ACCOUNTS.

Program 2

TO MEET THE FINANCIAL NEEDS OF OUR MEMBERS, MAX PROVIDES A SOURCE OF CREDIT BY OFFERING A VARIETY OF CONSUMER, REAL ESTATE, AND BUSINESS LENDING PRODUCTS AT REASONABLE RATES OF INTEREST.

Program 3

IN ADDITION TO THE SAVINGS AND LENDING PRODUCTS WE OFFER, MAX PROVIDES A VARIETY OF OTHER FINANCIAL SERVICES TO MEET THE NEEDS OF OUR MEMBERS.

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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 $98,922,948

Investment Income $24,911,175

Other Revenue $0

TOTAL REVENUE $123,834,123

Expense Breakdown

Grants Paid $89,500

Salaries & Benefits $30,850,134

Fundraising Expenses $0

Other Expenses $42,145,806

TOTAL EXPENSES $100,536,448

Year-over-Year Comparison

	2024	2023	Change
Revenue	$123,834,123	$110,340,417	+0.1%
Expenses	$100,536,448	$84,301,649	+0.2%
Net Income	$23,297,675	$26,038,768	-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

341

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

$1,677,709

Total Directors

Key Employees

$1,479,443

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
A KELLI WISE	DIRECTOR	1.00	Director	$0	$0	$0
K SUE JACKSON	SECRETARY	1.00	Officer Director	$0	$0	$0
BARBARA T STARR	CHAIRMAN	1.00	Officer Director	$0	$0	$0
JAMES W SOLZE JR	TREASURER	1.00	Officer Director	$0	$0	$0
JOHN AVERRETT	VICE-CHAIR	1.00	Officer Director	$0	$0	$0
LLOYD WOODMAN JR	DIRECTOR	1.00	Director	$0	$0	$0
CARL WHATLEY	DIRECTOR	1.00	Director	$0	$0	$0
GARY TOMLIN	DIRECTOR	1.00	Director	$0	$0	$0
JAMES LITTLEJOHN	DIRECTOR	1.00	Director	$0	$0	$0
BEA FORNISS	DIRECTOR	1.00	Director	$0	$0	$0
EDWARD CROWELL	DIRECTOR	1.00	Director	$0	$0	$0
MARTIN E HEAD	PRESIDENT/CEO	40.00	Officer	$662,803	$64,856	$727,659
TIMOTHY MARQUARDT	CHIEF FINANCIAL OFFICER	40.00	Officer	$308,014	$50,939	$358,953
MIKE HART	EVP CHIEF OPERATIONS OFFICER	40.00	Officer	$300,185	$53,323	$353,508
LYNETTE CUPPS	CHIEF GROWTH OFFICER	40.00	Officer	$193,901	$43,688	$237,589
CLINTON DALE WATKINS	CHIEF INFORMATION OFFICER	40.00	Key Emp	$260,944	$50,773	$311,717
CHERYL PAYSON	CHIEF OPTNS EXCEL OFFICER	40.00	Key Emp	$274,621	$46,755	$321,376
SANDRA BRANCH	CHIEF TALENT OFFICER	40.00	Key Emp	$244,207	$48,950	$293,157
WENDY ANDERSON	CHIEF LENDING OFFICER	40.00	Key Emp	$230,704	$44,904	$275,608
WILLIAM EPPERSON	CHIEF RETAIL OFFICER	40.00	Key Emp	$228,900	$48,685	$277,585
RON CREEL	SVP BUSINESS SERVICES	40.00	Highest	$218,435	$47,167	$265,602
KEN PEAVY	VP WEALTH MANAGEMENT	40.00	Highest	$239,896	$52,882	$292,778
MARTEE MOSELEY	MARKET PRESIDENT	40.00	Highest	$272,813	$45,244	$318,057
KENNETH HILL	VP MORTGAGE SERVICES	40.00	Highest	$203,053	$43,596	$246,649
TARA MCDOWELL	VP HUMAN RESOURCES	40.00	Highest	$189,570	$46,285	$235,855

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	$123,834,123	$100,536,448	$2,149,434,453	$23,297,675
2023	$110,340,417	$84,301,649	$2,080,252,064	$26,038,768
2022	$81,267,225	$62,954,777	$1,964,438,398	$18,312,448
2022	No data	No data	No data	No data
2021	$76,797,432	$60,006,358	$2,021,706,470	$16,791,074
2020	$78,182,943	$67,246,495	$1,769,448,467	$10,936,448
2019	$74,745,325	$63,321,492	$1,460,586,194	$11,423,833
2018	$69,231,901	$58,628,214	$1,365,063,060	$10,603,687