WESTERN 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

1937

Legal Domicile

Principal Officer

JUSTIN MADDISON

Phone

7015724000

Tax Period

2023-01-01 to 2023-12-31

WESTERN COOPERATIVE CREDIT UNION, founded in 1937, is a mid-sized nonprofit that reported $20.7M in total revenue in fiscal year 2023. Revenue surged 24% from the prior year, signaling strong growth momentum. The organization ran a surplus of $6.0M, a strong 29% operating margin.

Mission

WCCU EXISTS FOR THE FINANCIAL BENEFIT OF ITS MEMBERS. THE PURPOSE SHALL BE TO MAXIMIZE MEMBER BENEFITS THROUGH COST EFFECTIVE FINANCIAL SERVICES, EDUCATION CONSISTENT WITH COOPERATIVE PRINCIPLES, PRUDENT MANAGEMENT, AND TO MAINTAIN A STRONG PRESENCE IN OUR COMMUNITIES.

Program Service Accomplishments

Program 1

WESTERN COOPERATIVE CREDIT UNION IS A COMMUNITY-CHARTERED CREDIT UNION. IN ORDER TO QUALIFY FOR MEMBERSHIP, THE INDIVIDUAL OR BUSINESS MUST BE LOCATED WITHIN OUR FIELD OF MEMBERSHIP, WHICH IS:A...

WESTERN COOPERATIVE CREDIT UNION IS A COMMUNITY-CHARTERED CREDIT UNION. IN ORDER TO QUALIFY FOR MEMBERSHIP, THE INDIVIDUAL OR BUSINESS MUST BE LOCATED WITHIN OUR FIELD OF MEMBERSHIP, WHICH IS:A 75-MILE RADIUS AROUND WILLISTON, ND; ORA 50-MILE RADIUS AROUND DICKINSON, ND; ORA 50-MILE RADIUS AROUND HEBRON, ND; ORA 75-MILE RADIUS AROUND BEACH, ND; ORA 50-MILE RADIUS AROUND GLEN ULLIN, ND; ORA 75-MILE RADIUS AROUND RAY, ND.THOSE BELONGING TO A MEMBER'S FAMILY, INCLUDING: SPOUSES, CHILDREN, STEPCHILDREN, PARENTS, SIBLINGS, GRANDPARENTS, GRANDCHILDREN, STEPPARENTS, STEPSIBLINGS AND ADOPTIVE RELATIONSHIPS.ONCE A PERSON BECOMES A MEMBER, THEIR MEMBERSHIP CONTINUES UNTIL THEY CLOSE THEIR ACCOUNT.

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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 $15,695,430

Investment Income $4,909,993

Other Revenue $81,600

TOTAL REVENUE $20,687,023

Expense Breakdown

Grants Paid $0

Salaries & Benefits $7,502,745

Fundraising Expenses $0

Other Expenses $7,137,184

TOTAL EXPENSES $14,639,929

Year-over-Year Comparison

	2023	2022	Change
Revenue	$20,687,023	$16,661,044	+0.2%
Expenses	$14,639,929	$12,892,014	+0.1%
Net Income	$6,047,094	$3,769,030	+0.6%

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

121

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

$753,029

Total Directors

$28,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LARRY NOVAK	CHAIRMAN	1.00	Officer Director	$5,600	$0	$5,600
GINA KARSKY	SECRETARY - TREASURER	1.00	Officer Director	$5,600	$0	$5,600
LARRY SCHILKE	VICE CHAIRMAN	1.00	Officer Director	$5,600	$0	$5,600
HEATHER FEIRING	DIRECTOR	1.00	Director	$5,600	$0	$5,600
LEE MURPHY	DIRECTOR	1.00	Director	$5,600	$0	$5,600
MELANIE STILLWELL	CEO/PRESIDENT	40.00	Officer	$416,175	$48,074	$464,249
JUSTIN MADDISON	CHIEF FINANCIAL OFFICER	40.00	Officer	$224,992	$46,988	$271,980
SCOTT SCHWINDT	CHEIF OPERATIONS OFFICER	40.00	Highest	$146,476	$16,788	$163,264
NICKOLAS DRESSLER	AG/BUSINESS LOAN MANAGER	40.00	Highest	$132,898	$33,888	$166,786
SHAILOH KOVASH	REGINAL VICE PRESIDENT/IT	40.00	Highest	$110,354	$8,382	$118,736
SHAWN ROMO	SENIOR AG OFFICER	40.00	Highest	$107,500	$16,402	$123,902
JASON DELORME	CONSUMER/MORTGAGE LOAN MAN	40.00	Highest	$114,628	$25,234	$139,862

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	No data	No data	No data	No data
2023	$20,687,023	$14,639,929	$441,740,431	$6,047,094
2022	$16,661,044	$12,892,014	$446,507,146	$3,769,030
2021	$14,078,425	$12,678,794	$421,229,193	$1,399,631
2020	$14,807,052	$13,229,526	$385,602,569	$1,577,526
2019	$15,994,606	$13,200,773	$358,802,224	$2,793,833
2018	$14,713,233	$12,532,931	$341,884,280	$2,180,302