STAR CHOICE 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

1931

Legal Domicile

Principal Officer

SCOTT OLSON

Phone

9526987228

Tax Period

2024-01-01 to 2024-03-03

STAR CHOICE CREDIT UNION, founded in 1931, is a small nonprofit that reported $660K in total revenue in fiscal year 2023. Revenue fell 81% from the prior year — a significant decline worth monitoring. Expenses of $3.1M exceeded revenue, resulting in a 370% operating deficit.

Mission

WE STRIVE TO NURTURE YOUR FINANCIAL GROWTH BY PROVIDING SERVICE THAT EMBRACES TECHNOLOGY, EMBODIES TRUST, INTEGRITY, PASSION AND HONESTY.

Program Service Accomplishments

Program 1

THE CREDIT UNION HAS VARIOUS TYPES OF DEPOSIT ACCOUNTS AVAILABLE FOR OUR MEMBERS. WE OPENED 45 NEW DEPOSIT ACCOUNTS IN 2024. AS OF 03/03/24 JUST PRIOR TO THE MERGER WE HAD 6,111 MEMBERS.

Program 2

THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 47 NEW LOANS DURING 2024. AS OF 03/03/24 JUST PRIOR TO THE MERGER WE HAD 4,276 OUTANDING LOANS RECEIVABLE.

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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 $617,654

Investment Income $40,304

Other Revenue $2,328

TOTAL REVENUE $660,286

Expense Breakdown

Grants Paid $0

Salaries & Benefits $290,740

Fundraising Expenses $0

Other Expenses $2,814,685

TOTAL EXPENSES $3,105,425

Year-over-Year Comparison

	2023	2022	Change
Revenue	$660,286	$3,513,010	-0.8%
Expenses	$3,105,425	$3,150,366	0.0%
Net Income	$-2,445,139	$362,644	-7.7%

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

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

$96,934

Total Directors

$900

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SCOTT OLSON	PRESIDENT	40.00	Officer	$31,441	$5,884	$37,325
PATRICIA DEORAJ	CONTROLLER	40.00	Officer	$24,972	$4,984	$29,956
TAMMY JOHNSON-KOHL	VICE PRESIDE	40.00	Officer	$23,609	$5,644	$29,253
STUART KOHLSTEDT	DIRECTOR	1.00	Director	$150	$0	$150
LYNN LETTOW	DIRECTOR	1.00	Director	$150	$0	$150
MARY ST MARY	VICE CHAIR	1.00	Officer Director	$150	$0	$150
LINDSEY OLSON	BOARD CHAIR	1.00	Officer Director	$150	$0	$150
GLORIA ATIKA	DIRECTOR	1.00	Director	$100	$0	$100
DAN GANLEY	DIRECTOR	1.00	Director	$100	$0	$100
KEITH HUSO	SECRETARY	1.00	Officer Director	$100	$0	$100

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	$660,286	$3,105,425	No data	$-2,445,139
2023	$3,634,217	$3,971,988	$88,586,247	$-337,771
2022	$3,513,010	$3,150,366	$93,655,773	$362,644
2021	$3,369,972	$2,662,396	$85,416,287	$707,576
2020	$3,026,403	$2,753,720	$76,538,386	$272,683
2019	$3,135,361	$2,809,298	$64,237,390	$326,063
2018	$2,947,849	$2,531,627	$57,221,993	$416,222