HARBOR POINTE 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

1933

Legal Domicile

Principal Officer

Lisa Herstad

Phone

2187229242

Tax Period

2025-01-01 to 2025-12-31

HARBOR POINTE CREDIT UNION, founded in 1933, is a community nonprofit that reported $8.3M in total revenue in fiscal year 2025. Revenue grew 9% year-over-year, indicating healthy expansion. The organization ran a surplus of $1.9M, a strong 23% operating margin.

Mission

To meet the borrowing, saving, and investment needs of its members by providing the financial services desired. Members save and borrow from each other.Credit Union Members save and borrow from each other.

Program Service Accomplishments

Program 1

Loan Servicing and Visa Program Expenses

Program 2

Debit ATM card program expenses

Program 3

Draft Account program expenses

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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 (2025)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $7,674,731

Investment Income $619,003

Other Revenue $0

TOTAL REVENUE $8,293,734

Expense Breakdown

Grants Paid $5,000

Salaries & Benefits $2,430,476

Fundraising Expenses $0

Program Expenses $0

Other Expenses $2,770,955

TOTAL EXPENSES $6,423,192

Year-over-Year Comparison

	2025	2024	Change
Revenue	$8,293,734	$7,586,329	+0.1%
Expenses	$6,423,192	$5,824,763	+0.1%
Net Income	$1,870,542	$1,761,566	+0.1%

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

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

$542,771

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Lisa Herstad	CEO	40	Officer	$209,546	$13,200	$222,746
Beth Waksdahl	VP of Operations	40	Officer	$147,591	$12,460	$160,051
James Lundberg	VP Lending	40	Officer	$146,875	$13,099	$159,974
Kyle Hanson	Information Systems Manager	40	Highest	$112,288	$6,722	$119,010
Polly John	Board Chair	0.50	Director	$0	$0	$0
Lisa Mitchell Krocak	Board Vice Chair	0.50	Director	$0	$0	$0
Mike Fisher	Board Member	0.5	Director	$0	$0	$0
Merry Wallin	Board Member	0.5	Director	$0	$0	$0
Eddie Crawford	Board Member	0.5	Director	$0	$0	$0
J Earl Grano	Board Member	0.5	Director	$0	$0	$0
Christian Koelling	Board Member	0.5	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
2025	$8,293,734	$6,423,192	$152,373,124	$1,870,542
2024	$7,586,329	$5,824,763	$143,997,706	$1,761,566
2023	$6,824,977	$5,353,089	$146,163,101	$1,471,888
2022	$5,734,343	$4,585,398	$152,867,431	$1,148,945
2021	$5,158,658	$4,112,578	$155,144,214	$1,046,080
2020	$4,999,363	$3,925,350	$137,140,807	$1,074,013
2019	$5,063,368	$4,104,278	$120,417,051	$959,090
2018	$4,592,855	$3,569,241	$112,172,759	$1,023,614