SCOTT CREDIT UNION (EIN 370732817) - 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

1943

Legal Domicile

Principal Officer

FRANK M PADAK

Phone

6183451000

Tax Period

2024-01-01 to 2024-12-31

SCOTT CREDIT UNION, founded in 1943, is a major nonprofit that reported $121.0M in total revenue in fiscal year 2024. Revenue grew 14% year-over-year, indicating healthy expansion. Expenses of $114.2M left a modest 6% surplus.

Mission

TO SERVE MEMBERS' NEEDS BY ACCEPTING DEPOSITS, GRANTING LOANS AND INVESTING EXCESS FUNDS IN A PRUDENT 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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $95,488,126

Investment Income $25,463,249

Other Revenue $0

TOTAL REVENUE $120,951,375

Expense Breakdown

Grants Paid $243,418

Salaries & Benefits $31,851,002

Fundraising Expenses $0

Other Expenses $82,113,678

TOTAL EXPENSES $114,208,098

Year-over-Year Comparison

	2024	2023	Change
Revenue	$120,951,375	$105,927,391	+0.1%
Expenses	$114,208,098	$96,614,257	+0.2%
Net Income	$6,743,277	$9,313,134	-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

436

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

$2,389,747

Total Directors

$1,408,018

Key Employees

$1,510,711

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
FRANK PADAK	PRESIDENT AND CEO/BOD TREASURER	40.00	Officer Director	$1,104,580	$303,438	$1,408,018
LAWRENCE HAFFNER	BOARD CHAIRPERSON, BOD MEMBER	3.00	Director	$0	$0	$0
JACOB CURTIS	BOARD VICE CHAIRPERSON, BOD MEMBER	3.00	Director	$0	$0	$0
DEBBIE LANE	BOARD SECRETARY, BOD MEMBER	3.00	Director	$0	$0	$0
JESSICA HAUGEN	BOARD MEMBER	3.00	Director	$0	$0	$0
JOY HAYWARD	BOARD MEMBER	3.00	Director	$0	$0	$0
LAJUAN MILLER	BOARD MEMBER	3.00	Director	$0	$0	$0
CHRISTOPHER SOBRINO	BOARD MEMBER	3.00	Director	$0	$0	$0
ANGELA STEWART	BOARD MEMBER	3.00	Director	$0	$0	$0
SCOTT SEIDL	EXECUTIVE VICE PRESIDENT	40.00	Officer	$394,848	$132,864	$527,712
SCOTT PETERS	CHIEF FINANCIAL OFFICER	40.00	Officer	$290,924	$163,093	$454,017
DAVID BRESSLER	CHIEF LENDING OFFICER	40.00	Key Emp	$266,740	$66,184	$332,924
CARLA LAMBRECHT	CHIEF INFORMATION OFFICER	40.00	Key Emp	$269,198	$30,074	$299,272
VALENTINA RHODEN-KIMBROUGH	CHIEF HUMAN RESOURCES OFFICER	40.00	Key Emp	$257,211	$65,295	$322,506
JOANNA HERNANDEZ	CHIEF OPERATING OFFICER	40.00	Key Emp	$246,507	$62,925	$309,432
MICHELLE WAZLAWEK	CHIEF MARKETING OFFICER	40.00	Key Emp	$231,854	$14,723	$246,577
TRICIA NEWTON	MORTGAGE LOAN ORIGINATOR	40.00	Highest	$276,348	$23,646	$299,994
JEFFREY RODERICK	VICE PRESIDENT OF INFORMATION TECHNOLOGY	40.00	Highest	$204,969	$60,424	$265,393
LAURIE VIVIANO	MORTGAGE LOAN ORIGINATOR	40.00	Highest	$172,561	$53,077	$225,638
MARK DIETRICH	VICE PRESIDENT OF RETAIL OPERATIONS	40.00	Highest	$181,887	$59,029	$240,916
DONNA HARRIS	MORTGAGE LOAN ORIGINATOR	40.00	Highest	$190,014	$24,506	$214,520

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	$120,951,375	$114,208,098	$1,745,004,988	$6,743,277
2023	$105,927,391	$96,614,257	$1,741,583,732	$9,313,134
2022	$84,339,279	$75,829,501	$1,751,826,315	$8,509,778
2021	$74,654,217	$66,970,715	$1,647,347,103	$7,683,502
2020	$69,277,943	$64,773,713	$1,455,808,260	$4,504,230
2019	$68,652,150	$60,320,609	$1,268,134,429	$8,331,541
2018	$64,499,920	$52,738,224	$1,219,604,280	$11,761,696

SCOTT CREDIT UNION