LAKES COMMUNITY 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

1937

Legal Domicile

Principal Officer

Carolyn Chevrier

Phone

2488144000

Tax Period

2019-01-01 to 2019-12-31

LAKES COMMUNITY CREDIT UNION, founded in 1937, is a community nonprofit that reported $4.6M in total revenue in fiscal year 2019. The organization ran a surplus of $785K, a strong 17% operating margin.

Mission

Provide high quality products and services to enhance the economic and social well being of our members/owners and the community.

Program Service Accomplishments

Program 1

Provide 9,683 members with regular shares, share drafts, certificates of deposit, IRA, Christmas club, and money market accounts totaling 18,587.

Program 2

Provide 5,607 loans including new/used vehicle, recreational vehicle, unsecured, overdraft line of credit, share secured, indirect, business, credit card, mortgage, home equity, and participation.

Program 3

Offer automated teller machines, check cashing, money orders, debit cards, wire transfers, overdraft, protection/courtesy pay, and insurance products to all eligible members

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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 (2019)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $4,043,254

Investment Income $558,648

Other Revenue $0

TOTAL REVENUE $4,601,902

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,837,360

Fundraising Expenses $0

Other Expenses $1,979,601

TOTAL EXPENSES $3,816,961

Year-over-Year Comparison

	2019	2018	Change
Revenue	$4,601,902	$4,522,325	+0.0%
Expenses	$3,816,961	$4,220,129	-0.1%
Net Income	$784,941	$302,196	+1.6%

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

$308,067

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Carolyn Chevrier	CEO	40.00	Officer	$151,571	$24,697	$176,268
Samir Shabander	CFO	40.00	Officer	$110,850	$20,949	$131,799
James Battishill	Vice Chair	2.00		$0	$0	$0
John Clark	Director	2.00		$0	$0	$0
Mark Brackon	Treasurer	2.00		$0	$0	$0
Steven Taylor	Director	2.00		$0	$0	$0
Donald Heydens	Director	2.00		$0	$0	$0
George Wiegand	Chairperson	2.00		$0	$0	$0
Kristy Clark	Secretary	2.00		$0	$0	$0
Kristin Pawlowski	Director	2.00		$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
2019	$4,601,902	$3,816,961	$96,570,328	$784,941
2018	$4,522,325	$4,220,129	$98,222,598	$302,196