CONE 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

1959

Legal Domicile

Principal Officer

PAUL HAUFFE

Phone

9208866455

Tax Period

2021-01-01 to 2021-06-30

CONE CREDIT UNION, founded in 1959, is a small nonprofit that reported $408K in total revenue in fiscal year 2021. Revenue fell 58% from the prior year — a significant decline worth monitoring.

Mission

CONSTANTLY STRIVING TO BETTER YOUR FINANCIAL FUTURE.

Program Service Accomplishments

Program 1

WE HAVE DEPOSIT TRANSACTION AND INVESTMENT ACCOUNTS WITH 1,410 MEMBERS AT JUNE 30, 2021 AND DURING THE SHORT FISCAL YEAR OPENED 322 NEW DEPOSIT AND RETIREMENT ACCOUNTS.

Program 2

WE FUNDED 131 LOANS DURING THE FIRST SIX MONTHS OF 2021. AS OF JUNE 30, 2021 WE HAD 199 MORTGAGES / HOME EQUITY LINES, 343 CONSUMER LOANS, AND 10 MEMBER BUSINESS LOANS.

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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 (2021)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $365,434

Investment Income $43,141

Other Revenue $-381

TOTAL REVENUE $408,194

Expense Breakdown

Grants Paid $0

Salaries & Benefits $202,259

Fundraising Expenses $0

Other Expenses $225,948

TOTAL EXPENSES $428,207

Year-over-Year Comparison

	2021	2020	Change
Revenue	$408,194	$965,563	-0.6%
Expenses	$428,207	$936,636	-0.5%
Net Income	$-20,013	$28,927	-1.7%

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

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

$57,060

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL MEHLBERG	PRESIDENT	40.00	Officer	$57,060	$0	$57,060
VERNON GREEN	VICE-CHAIRMA	N/A	Officer Director	$0	$0	$0
PAUL HAUFFE	CHAIRMAN	N/A	Officer Director	$0	$0	$0
LEANNE RADTKE	SECRETARY	N/A	Officer Director	$0	$0	$0
JOHN WEYENBERG	TREASURER	N/A	Officer Director	$0	$0	$0
STEVE WICHMAN	DIRECTOR	N/A	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
2021	$408,194	$428,207	No data	$-20,013
2020	$965,563	$936,636	$29,072,322	$28,927
2019	$955,264	$1,166,727	$28,116,023	$-211,463
2018	$1,028,579	$987,123	$28,331,778	$41,456