NORTHERN COMMUNITIES 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

1928

Legal Domicile

Principal Officer

TRINA HOFF

Phone

2182793200

Tax Period

2023-01-01 to 2023-12-31

NORTHERN COMMUNITIES CREDIT UNION, founded in 1928, is a community nonprofit that reported $6.2M in total revenue in fiscal year 2023. Revenue surged 27% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.1M, a strong 18% operating margin.

Mission

TO PROMOTE MEMBER SUCCESS BY MEETING THEIR CHANGING FINANCIAL NEEDS.

Program Service Accomplishments

Program 1

THE CREDIT UNION HAS VARIOUS TYPES OF DEPOSIT ACCOUNTS AVAILABLE FOR OUR MEMBERS. WE OPENED 1,094 NEW DEPOSIT ACCOUNTS IN 2023. AS OF 12/31/23 WE HAD 6,453 MEMBERS.

Program 2

THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 29,479 NEW LOANS DURING 2023. AS OF 12/31/23 WE HAD 96,304 LOANS RECEIVABLE.

Program 3

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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 $5,375

Program Service Revenue $5,451,372

Investment Income $687,997

Other Revenue $44,731

TOTAL REVENUE $6,189,475

Expense Breakdown

Grants Paid $10,296

Salaries & Benefits $1,973,291

Fundraising Expenses $0

Other Expenses $3,082,489

TOTAL EXPENSES $5,066,076

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,189,475	$4,887,350	+0.3%
Expenses	$5,066,076	$4,164,127	+0.2%
Net Income	$1,123,399	$723,223	+0.6%

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

$459,724

Total Directors

$4,749

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TRINA HOFF	PRESIDENT/CE	40.00	Officer	$169,311	$69,621	$238,932
ANITA CHANDLER	VP ADMINISTR	40.00	Officer	$99,804	$15,328	$115,132
SHARON LUNDQUIST	VP LENDING	40.00	Officer	$82,021	$22,616	$104,637
DIRK DAVIS	DIRECTOR	0.50	Director	$1,486	$66	$1,552
GEORGE WALTERS	DIRECTOR	0.50	Director	$629	$66	$695
KAREN ERICKSON	CHAIR	0.50	Officer Director	$382	$66	$448
JAMES KROLL	DIRECTOR	0.50	Director	$343	$66	$409
JOHN LINDQUIST	DIRECTOR	0.50	Director	$340	$66	$406
CHARLES SCHUMACHER	DIRECTOR	0.50	Director	$297	$66	$363
ROBERT MCCUBBIN	DIRECTOR	0.50	Director	$235	$66	$301
SHAWN HERHUSKY	VICE CHAIR	0.50	Officer Director	$234	$66	$300
RUTH HEMMING	SECRETARY	0.50	Officer Director	$209	$66	$275

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	$6,189,475	$5,066,076	$101,562,045	$1,123,399
2022	$4,887,350	$4,164,127	$104,832,624	$723,223
2021	$4,585,811	$3,557,760	$101,821,358	$1,028,051
2020	$4,233,203	$3,435,385	$89,854,744	$797,818
2019	$4,305,352	$3,324,208	$75,737,048	$981,144
2018	$3,985,809	$3,107,898	$73,538,535	$877,911