LAKE HURON CREDIT UNION (EIN 381623775) - 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

1959

Legal Domicile

Principal Officer

BEVERLY LEE

Phone

9897525214

Tax Period

2024-01-01 to 2024-12-31

LAKE HURON CREDIT UNION, founded in 1959, is a community nonprofit that reported $6.1M in total revenue in fiscal year 2024.

Mission

TO PROVIDE FINANCIAL SERVICES TO MEMBER OWNERS WITH A COMMON BOND.

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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 $5,460,201

Investment Income $627,272

Other Revenue $6,019

TOTAL REVENUE $6,093,492

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,244,796

Fundraising Expenses $0

Other Expenses $3,774,857

TOTAL EXPENSES $6,019,653

Year-over-Year Comparison

	2024	2023	Change
Revenue	$6,093,492	$6,169,455	0.0%
Expenses	$6,019,653	$5,367,810	+0.1%
Net Income	$73,839	$801,645	-0.9%

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

$597,923

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BEVERLY LEE	CEO	45.00	Officer	$268,969	$54,392	$323,361
ELIZABETH MARX	Vice President	45.00	Officer	$133,167	$14,106	$147,273
MARTIN LEE	Controller	45.00	Officer	$105,475	$21,814	$127,289
STEVE WILLETT	Chairman	1.00	Director	$0	$0	$0
JERRY SCHRANK	Treasurer	1.00	Director	$0	$0	$0
ANTHONY HATCH	Director	1.00	Director	$0	$0	$0
JAY PEPLINSKI	Director	1.00	Director	$0	$0	$0
DONALD COON	Secretary	1.00	Director	$0	$0	$0
RAYMOND HUMMEL	Director	1.00	Director	$0	$0	$0
SCOTT WEISS	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	$6,093,492	$6,019,653	$82,529,801	$73,839
2023	$6,169,455	$5,367,810	$76,905,530	$801,645
2022	$5,798,313	$4,096,648	$72,932,666	$1,701,665
2021	$4,559,085	$3,377,533	$70,060,883	$1,181,552
2020	$4,119,044	$3,384,632	$63,468,054	$734,412
2019	$3,870,314	$3,343,782	$52,322,793	$526,532
2018	$3,403,653	$2,926,908	$49,341,003	$476,745

LAKE HURON CREDIT UNION