Warren 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

1959

Legal Domicile

Principal Officer

Holly Glasener

Phone

3192339240

Tax Period

2022-01-01 to 2022-12-31

Warren Credit Union, founded in 1959, is a small nonprofit that reported $222K in total revenue in fiscal year 2022. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $204K left a modest 8% surplus.

Mission

To create a source of credit at a fair and reasonable rate of interest, encourage habits of thrift among our members, and provide the opportunity for our members to use and control their savings for our mutual benefit.

Program Service Accomplishments

Program 1

Expenses: $34,567

Dividends and interest paid to members on approximately 790 savings accounts held by 780 members.

Program 2

Expenses: $98,197

Direct labor and employee benefit costs incurred providing savings deposit services, originating new loans and servicing the loan portfolio for members.

Program 3

Expenses: $14,618

Data processing costs incurred recording member account activity and providing access to members to their accounts via telephone 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 (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $160,443

Investment Income $44,607

Other Revenue $17,023

TOTAL REVENUE $222,073

Expense Breakdown

Grants Paid $0

Salaries & Benefits $98,282

Fundraising Expenses $0

Program Expenses $147,382

Other Expenses $65,732

TOTAL EXPENSES $204,359

Year-over-Year Comparison

	2022	2021	Change
Revenue	$222,073	$199,433	+0.1%
Expenses	$204,359	$196,711	+0.0%
Net Income	$17,714	$2,722	+5.5%

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

N/A

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

Total Directors

Key Employees

$69,754

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Holly Glasener	Manager	40	Key Emp	$69,754	$0	$69,754
Jodi Adams	director	0.50	Director	$0	$0	$0
Ben Caughron	Chairman	0.50	Director	$0	$0	$0
Brad Conn	director	0.50	Director	$0	$0	$0
Susan Heikens-Beck	Secretary	0.50	Director	$0	$0	$0
Alex Gielau	director	0.50	Director	$0	$0	$0
Shad Lonergan	Vice Chairman	0.50	Director	$0	$0	$0
Steve Recker	director	0.50	Director	$0	$0	$0
John Shaw	CFO Treasurer	0.50	Director	$0	$0	$0
Michelle Turner	Audit Committee Chair	0.50	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
2022	$222,073	$204,359	No data	$17,714
2021	$199,433	$196,711	$4,806,501	$2,722
2020	$190,093	$187,318	$4,528,236	$2,775