GALE 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

1947

Legal Domicile

Principal Officer

RANDY MCELWEE

Phone

3093431777

Tax Period

2023-01-01 to 2023-12-31

GALE CREDIT UNION, founded in 1947, is a community nonprofit that reported $2.8M in total revenue in fiscal year 2023. Revenue surged 71% from the prior year, signaling strong growth momentum. Expenses of $2.4M left a modest 14% surplus.

Mission

TO PROMOTE THRIFT AND TO PROVIDE THE HIGHEST QUALITY COMPETITIVE SERVICES AND BENEFITS TO ITS MEMBERS, WHILE ASSURING THE CREDIT UNION'S LONG-TERM FINANCIAL STABILITY.

Program Service Accomplishments

Program 1

PROVIDED CONSUMER LENDING AND RECEIVED DEPOSITS FROM THE CREDIT UNION MEMBERSHIP. THE CREDIT UNION SERVICES MORE THAN 8,710 MEMBER SHARE TYPE ACCOUNTS AND MORE THAN 4,085 LOAN TYPE ACCOUNTS...

PROVIDED CONSUMER LENDING AND RECEIVED DEPOSITS FROM THE CREDIT UNION MEMBERSHIP. THE CREDIT UNION SERVICES MORE THAN 8,710 MEMBER SHARE TYPE ACCOUNTS AND MORE THAN 4,085 LOAN TYPE ACCOUNTS, INCLUDING VISA CARDS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $2,390,955

Investment Income $361,974

Other Revenue $5,841

TOTAL REVENUE $2,758,770

Expense Breakdown

Grants Paid $0

Salaries & Benefits $921,411

Fundraising Expenses $0

Other Expenses $1,442,043

TOTAL EXPENSES $2,363,454

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,758,770	$1,613,031	+0.7%
Expenses	$2,363,454	$1,230,384	+0.9%
Net Income	$395,316	$382,647	+0.0%

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

$185,640

Total Directors

$127,783

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES MCNABB	CHAIRPERSON	1.00	Director	$0	$0	$0
CHRISTINE PEPMEYER	VICE CHAIR	1.00	Director	$0	$0	$0
LINDA TOWNSEND	DIRECTOR	1.00	Director	$0	$0	$0
LINDA LARSON	DIRECTOR	1.00	Director	$0	$0	$0
BRETT STAHL	SECRETARY	1.00	Director	$0	$0	$0
GREGORY BACON	DIRECTOR	1.00	Director	$0	$0	$0
RICK BARNHILL	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT HOWERTON	DIRECTOR	1.00	Director	$0	$0	$0
TROY TARTER	DIRECTOR	1.00	Director	$0	$0	$0
TERY BOYER	DIRECTOR	1.00	Director	$0	$0	$0
RANDY D MCELWEE	CEO/TREASURER	40.00	Officer Director	$110,291	$17,492	$127,783
JOY SKOLD	VICE PRESIDENT	40.00	Officer	$48,476	$9,381	$57,857

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	No data	No data	No data	No data
2023	$2,758,770	$2,363,454	$56,771,560	$395,316
2022	$1,613,031	$1,230,384	$39,198,216	$382,647
2021	$1,613,821	$1,183,611	$35,515,848	$430,210
2020	$1,452,341	$1,119,512	$31,803,568	$332,829
2019	$1,332,994	$1,052,965	$27,248,915	$280,029
2018	$1,261,417	$1,223,323	$25,859,159	$38,094