CHIPPEWA COUNTY 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

1955

Legal Domicile

Principal Officer

BRADLEY BISDORF

Phone

9066323134

Tax Period

2023-01-01 to 2023-12-31

CHIPPEWA COUNTY CREDIT UNION, founded in 1955, is a community nonprofit that reported $2.1M in total revenue in fiscal year 2023. Revenue grew 15% year-over-year, indicating healthy expansion. Expenses of $1.8M left a modest 13% surplus.

Mission

MICHIGAN CHARTERED CREDIT UNION FURNISHING COOPERATIVE FINANCIAL SERVICES TO MEMBERS AS PROVIDED BY PUBLIC ACT 285

Program Service Accomplishments

Program 1

MICHIGAN CHARTERED CREDIT UNION (STATE CHARTERED) FURNISHING COOPERATIVE FINANCIAL SERVICES TO MEMBERS AS PROVIDED BY PUBLIC ACT 285

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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 $33,522

Program Service Revenue $1,746,630

Investment Income $320,302

Other Revenue $7,211

TOTAL REVENUE $2,107,665

Expense Breakdown

Grants Paid $0

Salaries & Benefits $672,012

Fundraising Expenses $0

Other Expenses $1,153,425

TOTAL EXPENSES $1,825,437

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,107,665	$1,839,231	+0.1%
Expenses	$1,825,437	$1,692,037	+0.1%
Net Income	$282,228	$147,194	+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

N/A

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

$175,034

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CONNIE TOENSING	CEO	45.00	Officer	$99,466	$4,973	$104,439
BRADLEY BISDORF	COO	45.00	Officer	$67,233	$3,362	$70,595
TOM LUOMA	BOARD PRESID	1.00	Director	$0	$0	$0
JEANNIE MASTERSON	TREASURER	1.00	Director	$0	$0	$0
ROY NASON	DIRECTOR	1.00	Director	$0	$0	$0
JOSEPH NOLAN	DIRECTOR	1.00	Director	$0	$0	$0
SUZETTE OLSON	DIRECTOR	1.00	Director	$0	$0	$0
THOMAS PINK	SECRETARY	1.00	Director	$0	$0	$0
JUDITH WALSH	VICE PRESIDE	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
2023	$2,107,665	$1,825,437	No data	$282,228
2022	$1,839,231	$1,692,037	$38,175,294	$147,194
2021	$1,798,174	$1,564,869	$38,046,639	$233,305
2020	$1,727,935	$1,549,624	$33,778,426	$178,311
2019	$1,697,172	$1,512,083	$28,468,897	$185,089
2018	$1,605,671	$1,435,969	$27,444,991	$169,702