CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN (EIN 381480245) - 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

1936

Legal Domicile

Principal Officer

STEVEN J COBB

Phone

8006488035

Tax Period

2023-01-01 to 2023-12-31

CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN, founded in 1936, is a mid-sized nonprofit that reported $18.5M in total revenue in fiscal year 2023. Revenue surged 40% from the prior year, signaling strong growth momentum. The organization ran a surplus of $3.2M, a strong 17% operating margin.

Mission

BLUEOX CREDIT UNION'S MISSION IS TO PROVIDE QUALITY FINANCIAL SERVICES THAT WILL IMPROVE AND MAKE A DIFFERENCE IN THE LIVES OF OUR 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 (2023)

Revenue Breakdown

Contributions & Grants $4,470,374

Program Service Revenue $13,150,625

Investment Income $831,390

Other Revenue $15,044

TOTAL REVENUE $18,467,433

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,907,803

Fundraising Expenses $0

Other Expenses $9,371,936

TOTAL EXPENSES $15,279,739

Year-over-Year Comparison

	2023	2022	Change
Revenue	$18,467,433	$13,169,848	+0.4%
Expenses	$15,279,739	$12,477,470	+0.2%
Net Income	$3,187,694	$692,378	+3.6%

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

131

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

$400,081

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
D HICKS	DIRECTOR/ CHAIRPERSON	1.00	Director	$0	$0	$0
D VOSHELL	DIRECTOR	1.00	Director	$0	$0	$0
M DUTCHER	DIRECTOR	1.00	Director	$0	$0	$0
F HETHERWICK	DIRECTOR	1.00	Director	$0	$0	$0
J KIRKPATRICK	DIRECTOR/ SECRETARY	1.00	Director	$0	$0	$0
J RATTI	DIRECTOR/VICE CHAIRPERSON	1.00	Director	$0	$0	$0
J MAES	DIRECTOR/TREASURER	1.00	Director	$0	$0	$0
M WALLACE	DIRECTOR	1.00	Director	$0	$0	$0
T JOHNSON	ASSOCIATE DIRECTOR	1.00	Director	$0	$0	$0
A MUMFORD	DIRECTOR	1.00	Director	$0	$0	$0
S COBB	CEO	40.00	Officer	$218,078	$39,985	$258,063
J ROOD	SVP ACCOUNTING/FINANCE	40.00	Officer	$108,206	$33,812	$142,018
W HEPPE	VP HR	40.00	Highest	$116,297	$38,293	$154,590
D SLAVENS	VP IT	40.00	Highest	$133,514	$10,681	$144,195

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	$18,467,433	$15,279,739	$224,315,902	$3,187,694
2022	$13,169,848	$12,477,470	$222,746,006	$692,378
2021	$12,892,279	$11,999,280	$224,804,382	$892,999
2020	$11,872,214	$11,747,035	$215,814,531	$125,179
2019	$10,762,798	$10,958,538	$179,407,752	$-195,740
2018	$10,509,831	$9,885,542	$173,046,159	$624,289

CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN