WANIGAS 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

1952

Legal Domicile

Principal Officer

BERNARD D WILLIAMS

Phone

9897999800

Tax Period

2021-01-01 to 2021-12-31

WANIGAS CREDIT UNION, founded in 1952, is a mid-sized nonprofit that reported $18.3M in total revenue in fiscal year 2021. The organization ran a surplus of $3.9M, a strong 21% operating margin.

Mission

A MEMBER-OWNED FINANCIAL COOPERATIVE DEDICATED TO PROVIDING A FULL RANGE OF QUALITY FINANCIAL PRODUCTS AND SERVICES THAT MEET THE EVER-CHANGING NEEDS OF OUR MEMBERSHIP.

Program Service Accomplishments

Program 1

PROVIDE 24,260 MEMBERS WITH REGULAR SHARE, VACATION, CHRISTMAS CLUB, CASH MANAGEMENT, BUSINESS, IRA, AND CERTIFICATE OF DEPOSIT ACCOUNTS TOTALING 50,777.

Program 2

PROVIDE 24,319 LOANS INCLUDING VEHICLE, SIGNATURE, RECREATIONAL VEHICLE, STUDENT, MORTGAGE, HOME EQUITY, OVERDRAFT PRIVILEGE, OVERDRAFT PROTECTION, AND CREDIT CARD LOANS.

Program 3

OFFER AUTOMATED TELLER MACHINES, SAFE DEPOSIT BOXES, WIRE TRANSFERS, MONEY ORDERS, DEBIT CARDS, AND VARIOUS INSURANCE PROGRAMS.

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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 (2021)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $16,450,171

Investment Income $1,592,548

Other Revenue $232,814

TOTAL REVENUE $18,275,533

Expense Breakdown

Grants Paid $0

Salaries & Benefits $6,782,824

Fundraising Expenses $0

Other Expenses $7,576,702

TOTAL EXPENSES $14,359,526

Year-over-Year Comparison

	2021	2020	Change
Revenue	$18,275,533	$19,217,947	0.0%
Expenses	$14,359,526	$15,901,807	-0.1%
Net Income	$3,916,007	$3,316,140	+0.2%

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

134

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

$569,006

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GERALD LITTLE	DIRECTOR	8.00	Director	$0	$0	$0
MICHAEL BALLS	CHAIRPERSON	8.00	Officer Director	$0	$0	$0
PATRICIA MCCULLEY	DIRECTOR	8.00	Director	$0	$0	$0
GUS ALEXANDER	TREASURER	8.00	Officer Director	$0	$0	$0
SHELDON MATTHEWS	DIRECTOR	8.00	Director	$0	$0	$0
JALYNN HOPKINS	SECRETARY	8.00	Officer Director	$0	$0	$0
LISA WILSON	VICE CHAIRPERSON	8.00	Officer Director	$0	$0	$0
BERNARD D WILLIAMS	CEO	40.00	Officer	$393,637	$40,829	$434,466
JAY JULIUS PEITSCH SR	CFO	40.00	Officer	$66,435	$7,938	$74,373
SHARON BURNS	CFO	40.00	Officer	$57,701	$2,466	$60,167
TAMMY A O'LEARY	DIRECTOR OF LENDING	40.00	Highest	$305,866	$17,434	$323,300
LISA SHOEMAKER	MORTGAGE OPERATIONS MANAGE	40.00	Highest	$163,750	$28,761	$192,511
JEANINE MILNE	DIRECTOR OF IT	40.00	Highest	$140,705	$23,628	$164,333

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
2021	$18,275,533	$14,359,526	$415,190,693	$3,916,007
2020	$19,217,947	$15,901,807	$389,774,873	$3,316,140
2019	$18,618,496	$16,251,625	$338,938,733	$2,366,871
2018	$17,789,919	$14,696,918	$325,627,583	$3,093,001