Michigan Coastal 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

1958

Legal Domicile

Phone

2317773620

Tax Period

2024-01-01 to 2024-12-31

Michigan Coastal Credit Union, founded in 1958, is a community nonprofit that reported $2.3M in total revenue in fiscal year 2024.

Mission

PROVIDE COOPERATIVE FINANCIAL SERVICES AND PRODUCTS TO MEMBERS.

Program Service Accomplishments

Program 1

THE CREDIT UNION PROVIDES SEVERAL DEPOSIT ACCOUNT TYPES TO MEMBERS INCLUDING SAVINGS, CHECKING, CERTIFICATES AND OTHER. THE TOTAL NUMBER OF MEMBERS AT 12/31/24 WAS 2,572.

Program 2

THE CREDIT UNION PROVIDES A VARIETY OF LOANS TO MEMBERS INCLUDING REAL ESTATE, CREDIT CARD, VEHICLE AND OTHER. THE TOTAL NUMBER OF LOANS OUTSTANDING AT 12/31/2024 WAS 1,561.

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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 $0

Program Service Revenue $2,211,304

Investment Income $71,574

Other Revenue $-13,995

TOTAL REVENUE $2,268,883

Expense Breakdown

Grants Paid $0

Salaries & Benefits $564,411

Fundraising Expenses $0

Other Expenses $1,789,500

TOTAL EXPENSES $2,353,911

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,268,883	$2,148,340	+0.1%
Expenses	$2,353,911	$2,097,667	+0.1%
Net Income	$-85,028	$50,673	-2.7%

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

$98,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROB VILAND	CEO	40.00	Officer	$98,000	$0	$98,000
WAYNE T FERRIER	Chairman	1.00	Director	$0	$0	$0
MARIO FLORES	Director	1.00	Director	$0	$0	$0
DIANA COLEMAN	Secretary	1.00	Director	$0	$0	$0
ANTONIOS MUOLATSIOTIS	Treasurer	1.00	Director	$0	$0	$0
TONY JOHNSON	Director	1.00	Director	$0	$0	$0

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	$2,268,883	$2,353,911	$27,596,764	$-85,028
2023	$2,148,340	$2,097,667	$28,896,280	$50,673
2022	$1,722,570	$1,647,583	$26,406,478	$74,987
2021	$1,485,765	$1,315,822	$23,976,419	$169,943
2020	$1,438,398	$1,322,579	$21,116,946	$115,819
2019	$1,461,371	$1,401,364	$18,290,417	$60,007
2018	$1,229,491	$1,084,600	$15,417,022	$144,891