FINANCIAL PLUS CREDIT UNION (EIN 381439120) - 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

1952

Legal Domicile

Principal Officer

WADE DECKER

Phone

8102442200

Tax Period

2023-01-01 to 2023-12-31

FINANCIAL PLUS CREDIT UNION, founded in 1952, is a mid-sized nonprofit that reported $76.2M in total revenue in fiscal year 2023. Revenue surged 53% from the prior year, signaling strong growth momentum. Expenses of $66.7M left a modest 12% surplus.

Mission

ENHANCING THE FINANCIAL WELL-BEING OF OUR MEMBERS AND OUR COMMUNITIES.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $66,599,156

Investment Income $9,619,252

Other Revenue $0

TOTAL REVENUE $76,218,408

Expense Breakdown

Grants Paid $0

Salaries & Benefits $23,325,778

Fundraising Expenses $0

Other Expenses $43,423,751

TOTAL EXPENSES $66,749,529

Year-over-Year Comparison

	2023	2022	Change
Revenue	$76,218,408	$49,966,116	+0.5%
Expenses	$66,749,529	$42,573,487	+0.6%
Net Income	$9,468,879	$7,392,629	+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

328

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

$1,053,891

Total Directors

$1,373,465

Key Employees

$955,863

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL BALLS	VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
BARNEY HENNESSY	CHAIRMAN	1.00	Officer Director	$0	$0	$0
WILLIAM TYNES	DIRECTOR	1.00	Director	$0	$0	$0
KIM JONES	SECRETARY	1.00	Officer Director	$0	$0	$0
KIRK RHEAUME	DIRECTOR	1.00	Director	$0	$0	$0
DIANA WEBB	TREASURER	1.00	Officer Director	$0	$0	$0
LARRY CAMPBELL	DIRECTOR	1.00	Director	$0	$0	$0
LISA SHOEMAKER	VP OF MORTGAGE LENDING	50.00	Director	$153,313	$31,440	$184,753
BERNARD WILLIAMS	INTEGRATION ADVISOR	50.00	Director	$1,151,371	$37,341	$1,188,712
RON JANSSON	DIRECTOR	1.00	Director	$0	$0	$0
LISA WILSON	DIRECTOR	1.00	Director	$0	$0	$0
GERALD LITTLE	DIRECTOR	1.00	Director	$0	$0	$0
GUS ALEXANDER	DIRECTOR	1.00	Director	$0	$0	$0
WADE DECKER	CFO	50.00	Officer	$287,485	$52,192	$339,677
BRADLEY BERGMOOSER	PRESIDENT & CEO	50.00	Officer	$646,906	$67,308	$714,214
DEANNA WALLACE	SVP OF PEOPLE AND RETAIL DELIVERY	50.00	Key Emp	$201,252	$38,627	$239,879
RACHELLE KIPPE	SVP OF LENDING	50.00	Key Emp	$202,140	$42,089	$244,229
TAMMY O'LEARY	INTEGRATION ADVISOR	50.00	Key Emp	$469,168	$2,587	$471,755
NATHAN ADAMS	DIRECTOR OF BUSINESS SERVICES	50.00	Highest	$174,607	$39,428	$214,035
DOUG FENLON	DIRECTOR OF IT	50.00	Highest	$151,760	$31,892	$183,652

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	No data	No data	No data	No data
2023	$76,218,408	$66,749,529	$1,286,739,109	$9,468,879
2022	$49,966,116	$42,573,487	$1,232,513,294	$7,392,629
2021	$36,611,617	$27,921,900	$802,734,792	$8,689,717
2020	$31,034,404	$29,302,449	$699,057,295	$1,731,955
2019	$30,884,823	$28,489,936	$569,725,643	$2,394,887
2018	$30,711,530	$27,594,834	$536,761,945	$3,116,696

FINANCIAL PLUS CREDIT UNION