LOC CREDIT UNION (EIN 380549595) - 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

STEPHEN P GRECH

Phone

2484742200

Tax Period

2024-01-01 to 2024-12-31

LOC CREDIT UNION, founded in 1935, is a mid-sized nonprofit that reported $22.2M in total revenue in fiscal year 2024. Revenue grew 18% year-over-year, indicating healthy expansion. The organization ran a surplus of $3.8M, a strong 17% operating margin.

Mission

TO PROVIDE FINANCIAL SERVICES TO MEMBER OWNERS

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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 $17,459,044

Investment Income $4,757,320

Other Revenue $0

TOTAL REVENUE $22,216,364

Expense Breakdown

Grants Paid $0

Salaries & Benefits $7,798,769

Fundraising Expenses $0

Other Expenses $10,624,891

TOTAL EXPENSES $18,423,660

Year-over-Year Comparison

	2024	2023	Change
Revenue	$22,216,364	$18,776,561	+0.2%
Expenses	$18,423,660	$14,618,058	+0.3%
Net Income	$3,792,704	$4,158,503	-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

125

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

$821,183

Total Directors

Key Employees

$242,524

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL LASLEY	CHAIRPERSON	1.00	Director	$0	$0	$0
PAUL J RENKO JR	V. CHAIRPERSON	1.00	Director	$0	$0	$0
PAUL HAIN	SECRETARY	1.00	Director	$0	$0	$0
DALE COUNTEGAN	TREASURER	1.00	Director	$0	$0	$0
ANNE SCHROEDER	DIRECTOR	1.00	Director	$0	$0	$0
BETTY RICHARDS	DIRECTOR	1.00	Director	$0	$0	$0
DAVID DRAKE	DIRECTOR	1.00	Director	$0	$0	$0
DOMENIC LAURIA	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL CONNOLLY	DIRECTOR	1.00	Director	$0	$0	$0
NATALIE CLEMONS	DIRECTOR	1.00	Director	$0	$0	$0
PATRICK MONTI	DIRECTOR	1.00	Director	$0	$0	$0
PAUL WYDENDORF	DIRECTOR	1.00	Director	$0	$0	$0
STEPHEN P GRECH	PRESIDENT/CEO	40.00	Officer	$301,964	$42,073	$344,037
JONATHON ELLIOTT	SENIOR EVP	40.00	Officer	$224,438	$36,629	$261,067
KARI CIARAMITARO	EVP FINANCE	40.00	Officer	$187,241	$28,838	$216,079
CHRISTENA KOESTER	EVP OPERATIONS AND TECHNOLOGY	40.00	Key Emp	$186,525	$55,999	$242,524
DARIN BENTLEY	VP & CHIEF INFORMATION OFFICER	40.00	Highest	$165,256	$33,085	$198,341
WILLIAM COOK	VP OF REAL ESTATE LENDING	40.00	Highest	$165,573	$27,150	$192,723
MARC BUCHANAN	VP & CHIEF MARKETING/DIGITAL BANKING OFFICER	40.00	Highest	$151,671	$19,508	$171,179
KIMBERLY HAGSTROM	VP & CHIEF FINANCIAL OFFICER	40.00	Highest	$144,079	$9,449	$153,528
JOHN SCOTT	VP & CHIEF LENDING OFFICER	40.00	Highest	$118,404	$24,186	$142,590

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	$22,216,364	$18,423,660	$445,936,870	$3,792,704
2023	$18,776,561	$14,618,058	$434,942,078	$4,158,503
2022	$12,123,686	$8,405,776	$450,298,600	$3,717,910
2021	$3,952,650	$3,363,946	$137,978,999	$588,704
2020	$3,879,886	$3,315,871	$126,566,973	$564,015
2019	$4,439,588	$3,565,405	$107,262,357	$874,183
2018	$4,189,194	$3,740,604	$103,364,501	$448,590

LOC CREDIT UNION