CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN FRANKENMUTH CREDIT UNION (EIN 381796409) - 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

1964

Legal Domicile

Principal Officer

VICKIE SCHMITZER

Phone

9894971600

Tax Period

2023-01-01 to 2023-12-31

CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN FRANKENMUTH CREDIT UNION, founded in 1964, is a mid-sized nonprofit that reported $86.4M in total revenue in fiscal year 2023. Revenue surged 22% from the prior year, signaling strong growth momentum. Expenses of $78.6M left a modest 9% surplus.

Mission

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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $82,713,557

Investment Income $3,736,529

Other Revenue $-2,811

TOTAL REVENUE $86,447,275

Expense Breakdown

Grants Paid $569,548

Salaries & Benefits $32,587,138

Fundraising Expenses $0

Other Expenses $45,489,260

TOTAL EXPENSES $78,645,946

Year-over-Year Comparison

	2023	2022	Change
Revenue	$86,447,275	$70,580,613	+0.2%
Expenses	$78,645,946	$56,921,620	+0.4%
Net Income	$7,801,329	$13,658,993	-0.4%

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

607

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

$1,055,560

Total Directors

Key Employees

$259,177

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TIMOTHY HILDNER	CHAIRPERSON	2.46	Officer Director	$0	$0	$0
JILL CATTERFELD	VICE CHAIRPERSON	1.35	Officer Director	$0	$0	$0
BRIAN DIXON	TREASURER	1.35	Officer Director	$0	$0	$0
RICHARD REIF	SECRETARY	1.35	Officer Director	$0	$0	$0
MICHAEL FASSEZEE	DIRECTOR	2.04	Director	$0	$0	$0
DAN LEMKE	DIRECTOR	1.35	Director	$0	$0	$0
SCOT PUTZIG	DIRECTOR	1.35	Director	$0	$0	$0
KARINA SPENCER	DIRECTOR	1.35	Director	$0	$0	$0
CHRIS FRANK	DIRECTOR	1.35	Director	$0	$0	$0
VICKIE SCHMITZER	CEO	54.00	Officer	$727,234	$48,002	$775,236
DONNA HAUBENSTRICKER	VP OF FINANCE	45.00	Officer	$245,168	$35,156	$280,324
ERIC NEUMEYER	CEO OF CUSO	40.89	Key Emp	$217,406	$41,771	$259,177
ROBERT ROBINSON	INSURANCE SALES	40.00	Highest	$312,624	$47,587	$360,211
WILLIAM WATCHORN	MORTGAGE ORIGINATOR	40.00	Highest	$260,709	$15,445	$276,154
DANIEL WORTMAN	INSURANCE SALES	40.00	Highest	$239,351	$30,549	$269,900
STEVE WITT	INSURANCE SALES	40.00	Highest	$222,818	$42,070	$264,888
VICTORIA DEGRACE	DIRECTOR OF CREDIT SOLUTIONS & RECOVERY	40.00	Highest	$210,979	$17,903	$228,882

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	$86,447,275	$78,645,946	$1,317,110,032	$7,801,329
2022	$70,580,613	$56,921,620	$1,198,115,228	$13,658,993
2021	$67,769,311	$49,555,113	$1,071,337,170	$18,214,198
2020	$62,431,166	$48,862,017	$910,076,725	$13,569,149
2019	$52,523,544	$47,862,896	$740,854,703	$4,660,648
2018	$45,888,918	$40,054,497	$651,460,923	$5,834,421

CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN FRANKENMUTH CREDIT UNION