CONNEXUS CREDIT UNION (EIN 390263945) - 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

1935

Legal Domicile

Principal Officer

KARL PAGEL

Phone

7158474700

Tax Period

2024-01-01 to 2024-12-31

CONNEXUS CREDIT UNION, founded in 1935, is a major nonprofit that reported $349.1M in total revenue in fiscal year 2024. Revenue decreased 11% compared to the prior year. Expenses of $464.4M exceeded revenue, resulting in a 33% operating deficit.

Mission

ENCOURAGE THRIFT AND SELF-RELIANCE AMONG MEMBERS BY PROVIDING DEPOSIT AND LENDING PRODUCTS ON COMPETITIVE TERMS IN ORDER TO IMPROVE SOCIAL CONDITIONS OF THE MEMBERSHIP.

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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 $326,231,110

Investment Income $21,204,078

Other Revenue $1,700,999

TOTAL REVENUE $349,136,187

Expense Breakdown

Grants Paid $0

Salaries & Benefits $80,246,901

Fundraising Expenses $0

Other Expenses $235,274,143

TOTAL EXPENSES $464,413,129

Year-over-Year Comparison

	2024	2023	Change
Revenue	$349,136,187	$392,528,400	-0.1%
Expenses	$464,413,129	$380,799,470	+0.2%
Net Income	$-115,276,942	$11,728,930	-10.8%

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

775

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

$2,173,773

Total Directors

$51,164

Key Employees

$2,204,917

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALITA LOBNER	CHAIRMAN	1.00	Officer Director	$10,509	$0	$10,509
SHANNA YONKE	SECRETARY/TREASURER (TERMED JUN 2024)	1.00	Officer Director	$1,640	$0	$1,640
KELSI SEUBERT	VICE CHAIR	1.00	Officer Director	$8,821	$0	$8,821
GREG CULLEN	DIRECTOR (TERMED JUN 2024)	1.00	Director	$6,000	$0	$6,000
STEVEN DEREBEY	DIRECTOR (TERMED OCT 2024)	1.00	Director	$6,000	$0	$6,000
TIMOTHY MULLOY	SECRETARY/TREASURER	1.00	Director	$6,000	$0	$6,000
MICHAEL PARKER	DIRECTOR	1.00	Director	$6,000	$0	$6,000
MICHAEL PRESTILEO	DIRECTOR	1.00	Director	$6,000	$0	$6,000
WILLIAM HOFFMAN	DIRECTOR (TERMED JAN 2024)	1.00	Director	$194	$0	$194
MICHAEL ATKINS	DIRECTOR	1.00	Director	$0	$0	$0
BOYD J GUSTKE	CEO/PRESIDENT (TERMED NOV 2024)	50.00	Officer	$1,219,801	$59,575	$1,279,376
CHAD E ROGERS	EVP/COO & INTERIM CEO/PRESIDENT	50.00	Officer	$492,207	$66,700	$558,907
KIM GAMEZ	CHIEF FINANCIAL OFFICER (TERMED OCT 2024)	50.00	Officer	$297,585	$16,935	$314,520
RYAN GAGE	CHIEF RISK OFFICER (TERMED OCT 2024)	50.00	Key Emp	$368,832	$51,778	$420,610
CHERYL HALVERSON	CHIEF HR OFFICER (TERMED AUG 2024)	50.00	Key Emp	$216,004	$26,367	$242,371
AKIN AGAR	CHIEF TECHNOLOGY OFFICER	50.00	Key Emp	$399,540	$58,731	$458,271
ERIC HUSEBY	CHIEF LENDING OFFICER	50.00	Key Emp	$379,931	$36,376	$416,307
ADAM KEER	CHIEF REVENUE OFFICER	50.00	Key Emp	$276,368	$43,665	$320,033
CLAIRE MENEY	CHIEF OPERATING OFFICER	50.00	Key Emp	$293,844	$53,481	$347,325
BRIAN GOURLAY	SVP CREDIT RISK MANAGEMENT	50.00	Highest	$213,564	$35,153	$248,717
LAURA HUGGINS	SVP MARKETING	50.00	Highest	$200,368	$36,649	$237,017
MICHAEL STUELAND	VP CORPORATE COUNSEL	50.00	Highest	$220,754	$62,773	$283,527
JOEY BOWELL	VP INFRASTRUCTURE & OPERATIONS	50.00	Highest	$228,663	$12,812	$241,475
MATT DEDRICK	VP ENTERPRISE APPLICATIONS	50.00	Highest	$211,290	$41,357	$252,647

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	$349,136,187	$464,413,129	$4,332,016,221	$-115,276,942
2023	$392,528,400	$380,799,470	$5,303,334,419	$11,728,930
2022	$328,557,164	$283,657,478	$5,264,106,222	$44,899,686
2021	$275,583,742	$200,526,139	$3,884,444,446	$75,057,603
2020	$229,140,540	$176,570,912	$3,243,296,233	$52,569,628
2019	$184,935,240	$153,534,955	$2,671,699,264	$31,400,285
2019	$184,935,240	$153,534,955	$2,671,699,264	$31,400,285
2018	$128,472,323	$96,130,199	$2,274,624,184	$32,342,124

CONNEXUS CREDIT UNION