CREDIT UNIONS CHARTERED IN THE STA… - Form 990 Financial Data

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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

1949

Legal Domicile

Principal Officer

MARTIN CARTER

Phone

5173215135

Tax Period

2024-01-01 to 2024-12-31

CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN D/B/A ASTERA CREDIT UNION, founded in 1949, is a mid-sized nonprofit that reported $12.7M in total revenue in fiscal year 2024.

Mission

TO PROVIDE FINANCIAL SERVICES TO MEMBER OWNERS WITH A COMMON BOND.

Program Service Accomplishments

Program 1

PROVIDE MEMBERS WITH REGULAR SHARES, SHARE DRAFTS, MONEY MARKET, CERTIFICATES, AND IRA ACCOUNTS.

Program 2

PROVIDE LOANS INCLUDING CREDIT CARDS, REAL ESTATE, NEW AND USED VEHICLES (INCLUDING RECREATIONAL VEHICLES), AND UNSECURED LOANS.

Program 3

OFFER ATM/DEBIT CARDS, CHECK CASHING, WIRE TRANSFERS, MONEY ORDERS, AND OVERDRAFT/COURTESY PAY SERVICES.

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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 $317,302

Program Service Revenue $10,978,445

Investment Income $1,378,058

Other Revenue $0

TOTAL REVENUE $12,673,805

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,903,801

Fundraising Expenses $0

Other Expenses $8,877,277

TOTAL EXPENSES $13,781,078

Year-over-Year Comparison

	2024	2023	Change
Revenue	$12,673,805	$12,619,706	+0.0%
Expenses	$13,781,078	$12,591,138	+0.1%
Net Income	$-1,107,273	$28,568	-39.8%

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

$1,060,034

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KEVIN GOFF	CHAIRMAN	0.25	Officer Director	$0	$0	$0
LENORIS ALLEN	VICE CHAIRMAN	0.25	Officer Director	$0	$0	$0
ANTHONY EDWARDS	SECRETARY	0.25	Officer Director	$0	$0	$0
STEVEN OSBORN	TREASURER	0.25	Officer Director	$0	$0	$0
KRISTIAN JOHNSON	MEMBERSHIP OFFICER	0.25	Officer Director	$0	$0	$0
CHELSEA CARTER	DIRECTOR	0.25	Director	$0	$0	$0
MARTIN CARTER	PRESIDENT/CEO	40.00	Officer	$219,745	$35,578	$255,323
DEBRA MILES	CFO	40.00	Officer	$203,634	$25,644	$229,278
CHRIS TYLER	SENIOR VP OPERATIONS	40.00	Officer	$141,852	$27,619	$169,471
LAURA BLANDING	SVP OF LENDING	0.25	Officer	$132,378	$10,669	$143,047
JAMES PAISLEY	VP OF IT	0.25	Officer	$113,804	$25,096	$138,900
JESSICA HAYES	AVP OF BRANCH OPERATIONS	0.25	Officer	$100,302	$23,713	$124,015

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	$12,673,805	$13,781,078	No data	$-1,107,273
2023	$12,619,706	$12,591,138	$200,883,674	$28,568
2022	$11,400,277	$10,534,738	$194,990,190	$865,539
2021	$10,615,588	$9,492,585	$192,913,028	$1,123,003
2020	$10,360,687	$9,360,225	$178,613,511	$1,000,462
2019	$9,825,263	$9,136,367	$152,100,987	$688,896
2018	$9,291,562	$8,434,073	$149,432,566	$857,489

CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN D/B/A ASTERA CREDIT UNION