ROCKFORD MUNICIPAL EMPLOYEES CREDIT UNION

EIN: 366110489

ROCKFORD, IL

Total Revenue
$1,013,090
Total Expenses
$817,317
Total Assets
$22,471,012
Net Assets
$3,232,787
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1942
Legal Domicile
IL
Principal Officer
JODY MERNACK
Phone
8153164655
Tax Period
2024-01-01 to 2024-12-31

ROCKFORD MUNICIPAL EMPLOYEES CREDIT UNION, founded in 1942, is a community nonprofit that reported $1.0M in total revenue in fiscal year 2024. The organization ran a surplus of $196K, a strong 19% operating margin.

Mission

TO ASSIST OUR MEMBERS IN THE MANAGEMENT OF THEIR FINANCIAL WELL-BEING BY PROVIDING LOANS, SAVINGS ACCOUNTS AND OTHER FINANCIAL INSTITUTION SERVICES IN A FRIENDLY PROFESSIONAL MANNER.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $647,312
Investment Income $365,778
Other Revenue $0
TOTAL REVENUE $1,013,090

Expense Breakdown

Grants Paid $0
Salaries & Benefits $331,841
Fundraising Expenses $0
Program Expenses $0
Other Expenses $485,476
TOTAL EXPENSES $817,317

Year-over-Year Comparison

2024 2023 Change
Revenue $1,013,090 $944,416 +0.1%
Expenses $817,317 $700,649 +0.2%
Net Income $195,773 $243,767 -0.2%
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

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Governance

Voting Members
9
Independent Members
9
Employees
7
Volunteers
9

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
0
$0
Total Directors
5
$0
Key Employees
1
$102,692
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JODY MERNACK PRESIDENT 40
Key Emp
$89,165 $13,527 $102,692
MARY OGDEN SUPERVISORY MEMBER 1
Director
$0 $0 $0
DAVID SAID SUPERVISORY MEMBER 1
Director
$0 $0 $0
KATRINA COSSEY ALTERNATE BOARD MEMBER 1
Director
$0 $0 $0
JEFF SCHRODER MEMBERSHIP COMMITTEE CHAIRMAN 1
Director
$0 $0 $0
SHIRLEY FOLTZ CREDIT COMMITTEE MEMBER 1
Director
$0 $0 $0
KRISTIE BELLONE SECRETARY 1.0
$0 $0 $0
CHARLES DOYLE VICE CHAIRMAN 1
$0 $0 $0
STEVE CHAPMAN TREASURER 1
$0 $0 $0
WALLIS PARSON CHAIRMAN 1
$0 $0 $0
DUSTIN OBERBROECKLING SUPERVISORY CHAIRMAN 1
$0 $0 $0
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 No data No data No data No data
2024 $1,013,090 $817,317 $22,471,012 $195,773
2023 $944,416 $700,649 $24,296,840 $243,767
2022 $710,180 $627,826 $25,499,085 $82,354
2021 $667,786 $594,696 $25,842,710 $73,090
2020 $693,650 $587,209 $23,514,379 $106,441
2019 $758,324 $596,960 $19,855,511 $161,364
2018 $711,750 $551,559 $19,367,193 $160,191
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