SECURITY CREDIT UNION (EIN 381514946) - 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

1955

Legal Domicile

Principal Officer

JAY YAX

Phone

8102352322

Tax Period

2023-01-01 to 2023-12-31

SECURITY CREDIT UNION, founded in 1955, is a mid-sized nonprofit that reported $35.3M in total revenue in fiscal year 2023. Revenue surged 21% from the prior year, signaling strong growth momentum. Expenses of $32.2M left a modest 9% surplus.

Mission

WE ARE OUR MEMBERS' TRUSTED, SECURED FINANCIAL COOPERATIVE DEDICATED TO PROVIDING EXCEPTIONAL VALUE, PERSONALIZED SERVICE, AND CONVENIENCE.

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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 $33,198,934

Investment Income $2,049,198

Other Revenue $94,454

TOTAL REVENUE $35,342,586

Expense Breakdown

Grants Paid $0

Salaries & Benefits $11,585,854

Fundraising Expenses $0

Other Expenses $20,622,298

TOTAL EXPENSES $32,208,152

Year-over-Year Comparison

	2023	2022	Change
Revenue	$35,342,586	$29,269,007	+0.2%
Expenses	$32,208,152	$25,015,361	+0.3%
Net Income	$3,134,434	$4,253,646	-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

205

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

$1,294,449

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN TRUCHAN	CHAIRMAN	2.00	Officer Director	$0	$0	$0
JOSEPH NIEDZWIECKI	1ST VICE CHAIRMAN	2.00	Officer Director	$0	$0	$0
DONALD HENRY	2ND VICE CHAIRMAN	2.00	Officer Director	$0	$0	$0
PHIL THICK	TREASURER	2.00	Officer Director	$0	$0	$0
DON SORENSEN	SECRETARY	2.00	Officer Director	$0	$0	$0
JESSIE COLLINS	DIRECTOR	2.00	Director	$0	$0	$0
CHRISTOPHER ESTES	PRESIDENT AND CEO	40.00	Officer	$387,508	$60,891	$448,399
HEIDI SCHWARZ	VP OF ACCOUNTING	40.00	Officer	$153,591	$38,308	$191,899
JAY YAX	SVP OPERATIONS AND COO	40.00	Officer	$219,105	$44,806	$263,911
JOSEPH REGAN	VP OF IT	40.00	Officer	$163,099	$39,528	$202,627
SCOTT KNOPF	VP OF LENDING/LOSS PREVENT	40.00	Officer	$149,877	$37,736	$187,613
AMANDA SHERWOOD	VP HR	40.00	Highest	$140,033	$36,999	$177,032
KATIE KRANE	VP SALES & SERVICE	40.00	Highest	$127,315	$31,830	$159,145
WILLIAM HERRON	VP OF OPERATIONS	40.00	Highest	$125,552	$35,325	$160,877

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	$35,342,586	$32,208,152	$638,584,325	$3,134,434
2022	$29,269,007	$25,015,361	$624,480,675	$4,253,646
2021	$27,633,370	$23,514,257	$601,751,923	$4,119,113
2020	$27,011,920	$25,008,443	$541,296,388	$2,003,477
2019	$26,163,596	$24,229,303	$445,821,034	$1,934,293
2018	$23,588,396	$22,352,754	$420,236,602	$1,235,642

SECURITY CREDIT UNION