GREAT LAKES MEMBERS 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

1941

Legal Domicile

Principal Officer

ALDO L MARTIN

Phone

3132745030

Tax Period

2018-01-01 to 2018-12-31

GREAT LAKES MEMBERS CREDIT UNION, founded in 1941, is a small nonprofit that reported $135K in total revenue in fiscal year 2018. Revenue fell 54% from the prior year — a significant decline worth monitoring. Expenses of $583K exceeded revenue, resulting in a 333% operating deficit.

Mission

TO PROVIDE QUALITY FINANCIAL SERVICES AND RELATED CONSUMER PROGRAMS TO MEET OUR MEMBERS' NEEDS, WHILE MAINTAINING A SOUND FINANCIAL CONDITION.

Program Service Accomplishments

Program 1

PROVIDE 1,092 MEMBERS WITH REGULAR SHARES, SHARE DRAFTS, CERTIFICATES OF DEPOSIT, AND IRA ACCOUNTS TOTALING 1,408.

Program 2

PROVIDE 477 LOANS INCLUDING VEHICLE, MORTGAGE, HOME EQUITY, LINE OF CREDIT, AND CREDIT CARD LOANS.

Program 3

OFFER WIRE TRANSFERS, MONEY ORDERS, SHARED BRANCHING AND VARIOUS INSURANCE PROGRAMS TO THEIR 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 (2018)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $95,588

Investment Income $39,123

Other Revenue $0

TOTAL REVENUE $134,711

Expense Breakdown

Grants Paid $0

Salaries & Benefits $295,523

Fundraising Expenses $0

Other Expenses $287,806

TOTAL EXPENSES $583,329

Year-over-Year Comparison

	2018	2017	Change
Revenue	$134,711	$294,655	-0.5%
Expenses	$583,329	$446,591	+0.3%
Net Income	$-448,618	$-151,936	+2.0%

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

$67,225

Total Directors

$38,481

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SUSAN ZAIN	CHAIRPERSON	1.00	Director	$0	$0	$0
EDWARD BARTOS	VICE CHAIRPERSON	1.00	Director	$0	$0	$0
MARK EATON	SECRETARY	1.00	Director	$0	$0	$0
LAWRENCE EATON	DIRECTOR	1.00	Director	$0	$0	$0
ALDO L MARTIN	GENERAL MANAGER/TREASURER	35.00	Officer Director	$26,880	$11,601	$38,481
MARY JO O'NEILL	ASSISTANT MANAGER	35.00	Officer	$22,829	$5,915	$28,744

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
2018	$134,711	$583,329	No data	$-448,618