HEARTLAND 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

1939

Legal Domicile

Principal Officer

KATHLEEN HARRINGTON

Phone

6514515160

Tax Period

2025-01-01 to 2025-12-31

HEARTLAND CREDIT UNION, founded in 1939, is a community nonprofit that reported $10.0M in total revenue in fiscal year 2025. Expenses of $9.6M left a modest 4% surplus.

Mission

TO HELP OUR MEMBERS GET THE MOST FROM THEIR MONEY.

Program Service Accomplishments

Program 1

THE CREDIT UNION PROVIDES APPROXIMATELY 21,115 DEPOSIT ACCOUNTS THAT ARE HELD BY APPROXIMATELY 10,905 MEMBERS. DIVIDENDS AND INTEREST ARE PAID ON THESE ACCOUNTS.

Program 2

THE CU PROVIDES SAVINGS DEPOSIT SERVICES, ORIGINATES NEW LOANS AND SERVICES THE LOAN PORTFOLIO FOR MEMBERS.

Program 3

THE CU PROVIDES ACCESS TO MEMBERS TO THEIR ACCOUNTS VIA ONLINE BANKING, MOBILE BANKING, ATM NETWORKS, AND IN PERSON AT THE CREDIT UNION OFFICE.

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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 $8,333,101

Investment Income $1,624,376

Other Revenue $0

TOTAL REVENUE $9,957,477

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,988,494

Fundraising Expenses $0

Other Expenses $4,677,829

TOTAL EXPENSES $9,580,755

Year-over-Year Comparison

	2025	2024	Change
Revenue	$9,957,477	$9,671,992	+0.0%
Expenses	$9,580,755	$9,491,589	+0.0%
Net Income	$376,722	$180,403	+1.1%

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

$870,659

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DALE LIEB	BOARD DIRECTOR	1.00	Officer Director	$0	$0	$0
REX CARLSON	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
NOEL LARSON	BOARD DIRECTOR	1.00	Director	$0	$0	$0
ERIC SPANDL	BOARD DIRECTOR	1.00	Director	$0	$0	$0
ANN YOUNG	BOARD DIRECTOR	1.00	Director	$0	$0	$0
GENE TRAXLER	BOARD VICE CHAIR	1.00	Officer Director	$0	$0	$0
NANCI LIJA	BOARD SECRETARY	1.00	Officer Director	$0	$0	$0
KATHLEEN HARRINGTON	PRESIDENT	45.00	Officer	$282,736	$17,048	$299,784
BRITTANY KLOETZKE	VP OF LENDING	40.00	Officer	$150,494	$18,087	$168,581
NATHAN DORMODY	VP OF OPERATIONS	40.00	Officer	$126,512	$16,628	$143,140
ALYSSA KARL	VICE PRESIDENT - MARKETING	45.00	Officer	$123,652	$8,383	$132,035
JUSTIN HOULE	VP/CFO	40.00	Officer	$114,907	$12,212	$127,119

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	$9,957,477	$9,580,755	$173,940,602	$376,722
2024	No data	No data	No data	No data
2023	$8,315,333	$7,709,814	$189,890,064	$605,519
2022	$6,871,106	$5,849,956	$175,100,407	$1,021,150
2021	$7,283,732	$5,040,512	$167,172,062	$2,243,220
2020	$5,898,437	$5,878,185	$147,309,051	$20,252
2019	$5,922,149	$5,229,899	$121,609,939	$692,250
2018	$5,558,163	$4,707,827	$117,009,588	$850,336