MIDWEST MEMBERS CREDIT UNION (EIN 370661473) - Form 990 Financial Analysis & Trantor Score

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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

1935

Legal Domicile

Principal Officer

LOUIS BICANIC III

Phone

6182540605

Tax Period

2024-01-01 to 2024-12-31

MIDWEST MEMBERS CREDIT UNION, founded in 1935, is a community nonprofit that reported $6.6M in total revenue in fiscal year 2018. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $5.8M left a modest 13% surplus.

Mission

MIDWEST MEMBERS CREDIT UNION WILL BECOME THE AREA'S FULL SERVICE CREDIT UNION OF CHOICE BY PROVIDING CONVENIENT MEMBER ACCESS TO A WIDE RANGE OF FINANCIAL SERVICES.

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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 $10,929,484

Investment Income $1,389,969

Other Revenue $22,897

TOTAL REVENUE $12,342,350

Expense Breakdown

Grants Paid $9,500

Salaries & Benefits $2,792,864

Fundraising Expenses $0

Other Expenses $6,447,471

TOTAL EXPENSES $9,253,159

Year-over-Year Comparison

	2024	2023	Change
Revenue	$12,342,350	$10,510,257	+0.2%
Expenses	$9,253,159	$7,669,522	+0.2%
Net Income	$3,089,191	$2,840,735	+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

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

$448,597

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GERARD JACQUIN	CHAIRMAN	3.50	Director	$0	$0	$0
RICHARD BARTOSIAK	VICE CHAIRMAN	3.50	Director	$0	$0	$0
RANDY DUNCAN	SECRETARY	3.50	Director	$0	$0	$0
MARK SCHOENLEBER	TREASURER	3.50	Director	$0	$0	$0
BRIAN NOTTROTT	DIRECTOR	3.50	Director	$0	$0	$0
WILLIAM DUSENBERRY	DIRECTOR	3.50	Director	$0	$0	$0
JEFF WHITAKER	DIRECTOR	0.00	Director	$0	$0	$0
LOUIS BICANIC III	PRESIDENT/CEO	40.00	Officer	$182,628	$40,554	$223,182
TIMOTHY CARTER	COO	40.00	Officer	$109,897	$4,396	$114,293
SAMANTHA PRITCHETT	CFO	40.00	Officer	$107,819	$3,303	$111,122

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	$12,342,350	$9,253,159	$201,637,734	$3,089,191
2023	$10,510,257	$7,669,522	$195,240,766	$2,840,735
2022	$9,071,640	$7,343,692	$194,942,200	$1,727,948
2021	$7,396,761	$5,836,947	$188,943,922	$1,559,814
2020	$7,063,165	$5,884,207	$160,998,224	$1,178,958
2019	$7,267,662	$5,930,835	$136,796,570	$1,336,827
2018	$6,641,298	$5,756,961	$128,425,665	$884,337

MIDWEST MEMBERS CREDIT UNION