HIBBING COOPERATIVE 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

1938

Legal Domicile

Principal Officer

WAYLON VITTERS

Phone

2182638815

Tax Period

2025-01-01 to 2025-12-31

HIBBING COOPERATIVE CREDIT UNION, founded in 1938, is a community nonprofit that reported $5.0M in total revenue in fiscal year 2025. The organization ran a surplus of $2.6M, a strong 53% operating margin.

Mission

HIBBING COOPERATIVE CREDIT UNION IS A STATE-CHARTERED COOPERATIVE ASSOCIATION ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AMONG AND CREATING A SOURCE OF CREDIT FOR ITS MEMBERS.

Program Service Accomplishments

Program 1

HIBBING COOPERATIVE CREDIT UNION (THE CREDIT UNION) GENERATED 958 LOANS TO OUR MEMBERS IN 2025 THAT TOTALED $13,254,434. THE CREDIT UNION GENERATES LOANS TO BUY NEW AND USED VEHICLES, RECREATIONAL...

HIBBING COOPERATIVE CREDIT UNION (THE CREDIT UNION) GENERATED 958 LOANS TO OUR MEMBERS IN 2025 THAT TOTALED $13,254,434. THE CREDIT UNION GENERATES LOANS TO BUY NEW AND USED VEHICLES, RECREATIONAL ITEMS, HOUSEHOLD ITEMS AND FOR ANY REASONABLE PURPOSE. THE CREDIT UNION ALSO GENERATES HOME EQUITY LOANS AND OFFERS VISA CREDIT CARDS.

Program 2

HIBBING COOPERATIVE CREDIT UNION OFFERS VARIOUS TYPES OF SAVINGS PRODUCTS TO OUR MEMBERS. ON 12/31/25, OUR MEMBERS HAD ON DEPOSIT $65,859,425 IN 8,850 ACCOUNTS.

Program 3

HIBBING COOPERATIVE CREDIT UNION OFFERS SHARE DRAFT ACCOUNTS TO OUR MEMBERS. ON 12/31/25, WE HAD $21,154,088 IN 3,965 ACCOUNTS.

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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 $134,875

Program Service Revenue $2,193,027

Investment Income $2,622,171

Other Revenue $0

TOTAL REVENUE $4,950,073

Expense Breakdown

Grants Paid $0

Salaries & Benefits $773,736

Fundraising Expenses $0

Other Expenses $1,531,803

TOTAL EXPENSES $2,305,539

Year-over-Year Comparison

	2025	2024	Change
Revenue	$4,950,073	$4,607,772	+0.1%
Expenses	$2,305,539	$2,046,641	+0.1%
Net Income	$2,644,534	$2,561,131	+0.0%

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

$134,943

Total Directors

$4,520

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PATRICK DILLEY	SECRETARY	0.30	Officer Director	$880	$0	$880
JOHN DIXON	TREASURER	0.30	Officer Director	$800	$0	$800
GARY S KANGAS	PRESIDENT	0.30	Officer Director	$880	$0	$880
REX LENTNER	DIRECTOR	0.30	Director	$1,320	$0	$1,320
DAVID SIMONSON	VICE PRESIDENT	0.30	Officer Director	$640	$0	$640
WAYLON VITTERS	CEO	40.00	Officer	$116,702	$15,041	$131,743

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	$4,950,073	$2,305,539	$106,665,130	$2,644,534
2024	$4,607,772	$2,046,641	$103,052,536	$2,561,131
2023	$3,958,152	$1,852,715	$105,085,944	$2,105,437
2022	$2,786,287	$1,800,837	$110,217,749	$985,450
2021	$2,144,165	$1,750,422	$108,549,436	$393,743
2020	$2,339,189	$1,861,265	$99,660,751	$477,924
2019	$2,815,439	$1,847,763	$83,061,847	$967,676
2018	$2,505,798	$1,822,509	$79,816,422	$683,289