ELECTRO SAVINGS CREDIT UNION (EIN 430605018) - Form 990 Financial Analysis & Trantor Score

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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

1941

Legal Domicile

Phone

3144346470

Tax Period

2024-01-01 to 2024-12-31

ELECTRO SAVINGS CREDIT UNION, founded in 1941, is a mid-sized nonprofit that reported $12.7M in total revenue in fiscal year 2024. Expenses of $14.7M exceeded revenue, resulting in a 15% operating deficit.

Mission

THE MISSION OF ELECTRO SAVINGS CREDIT UNION IS TO FULFILL MEMBERS' FINANCIAL NEEDS IN A MANNER WHICH IS BENEFICIAL TO THEM INDIVIDUALLY AND COLLECTIVELY. THIS FULFILLMENT WILL BE ACCOMPLISHED BY OFFERING SAVINGS PLANS, LOAN PROGRAMS, AND OTHER SERVICES, WHICH ARE FISCALLY SOUND, COMPETITIVE AND INNOVATIVE WITHIN THE RESTRAINTS IMPOSED BY GOOD AND ETHICAL BUSINESS PRACTICES. CREDIT UNION STAFF WILL ADMINISTER THE SERVICES AND PROGRAMS IN A PROFESSIONAL, COURTEOUS MANNER. THE BOARD OF DIRECTORS WILL ACT UNSELFISHLY AND RESPONSIBLY IN ALL CREDIT UNION ACTIVITIES.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $11,113,415

Investment Income $1,562,719

Other Revenue $43,613

TOTAL REVENUE $12,719,747

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,867,902

Fundraising Expenses $0

Other Expenses $9,803,415

TOTAL EXPENSES $14,679,317

Year-over-Year Comparison

	2024	2023	Change
Revenue	$12,719,747	$12,489,294	+0.0%
Expenses	$14,679,317	$16,601,961	-0.1%
Net Income	$-1,959,570	$-4,112,667	-0.5%

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

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

$1,412,632

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WILL COOPER	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL KNOTT	DIRECTOR	1.00	Director	$0	$0	$0
ALAN RAYMOND	DIRECTOR	1.00	Director	$0	$0	$0
JAMES TELTHORST	DIRECTOR	1.00	Director	$0	$0	$0
THOMAS GLENN	TREASURER	1.00	Director	$0	$0	$0
DAVID MEGLIO	CHAIRPERSON	1.00	Director	$0	$0	$0
KEVIN ATWOOD	DIRECTOR	1.00	Director	$0	$0	$0
JAMES MULLINEAUX	VICE CHAIRPERSON	1.00	Director	$0	$0	$0
JAMES HOLMES	DIRECTOR	1.00	Director	$0	$0	$0
JAMES STRUBLE	PRESIDENT & CEO	40.00	Officer	$290,996	$56,423	$347,419
BIANCA GONZALEZ	VICE PRESIDENT - FINANCE	40.00	Officer	$176,121	$11,348	$187,469
ERIC CLARK	VICE PRESIDENT - LENDING	40.00	Officer	$190,237	$15,133	$205,370
ASHLEY KEEGAN	VICE PRESIDENT - PEOPLE	40.00	Officer	$219,700	$12,509	$232,209
WILLIAM EMERSON	VICE PRESIDENT - ECOMMERCE	40.00	Officer	$181,973	$25,257	$207,230
LISA FARNEN	VICE PRESIDENT - BRAND	40.00	Officer	$200,891	$32,044	$232,935
LISA ELLISON	AVP - RISK MANAGEMENT	40.00	Highest	$121,502	$11,417	$132,919

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	$12,719,747	$14,679,317	No data	$-1,959,570
2023	$12,489,294	$16,601,961	$210,183,943	$-4,112,667
2022	$13,380,765	$14,999,717	$222,732,123	$-1,618,952
2021	$12,131,596	$11,769,098	$250,400,815	$362,498
2020	$11,018,535	$9,927,027	$223,844,211	$1,091,508
2019	$9,899,667	$9,240,980	$177,091,049	$658,687
2018	$8,917,385	$8,593,481	$168,410,913	$323,904

ELECTRO SAVINGS CREDIT UNION