MERITRUST 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

1935

Legal Domicile

Principal Officer

RANDY DOERKSEN

Phone

3166831199

Tax Period

2018-01-01 to 2018-12-31

MERITRUST CREDIT UNION, founded in 1935, is a mid-sized nonprofit that reported $75.2M in total revenue in fiscal year 2018. Expenses of $71.0M left a modest 6% surplus.

Mission

MERITRUST CREDIT UNION IS A MEMBER-OWNED NOT-FOR-PROFIT FINANCIAL COOPERATIVE WHICH EXISTS TO PROVIDE FINANCIAL SERVICES WHILE MAINTAINING THE HIGHEST ETHICAL STANDARDS, SAFE MANAGEMENT OF OUR MEMBER'S ASSETS IS OUR MAIN OBJECTIVE AND WE WILL MANAGE OUR BUSINESS.

Program Service Accomplishments

Program 1

INCOME FROM THE CREDIT UNION MEMBERSHIP AND INVESTMENT OF MEMBER'S FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP.

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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 (2018)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $68,508,680

Investment Income $4,249,836

Other Revenue $2,471,423

TOTAL REVENUE $75,229,939

Expense Breakdown

Grants Paid $11,883

Salaries & Benefits $26,679,924

Fundraising Expenses $0

Other Expenses $44,324,980

TOTAL EXPENSES $71,016,787

Year-over-Year Comparison

	2018	2017	Change
Revenue	$75,229,939	$76,992,366	0.0%
Expenses	$71,016,787	$74,397,692	0.0%
Net Income	$4,213,152	$2,594,674	+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

413

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

$849,426

Total Directors

$5,554

Key Employees

$1,566,906

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICK DODDS	BOARD CHAIR	3.00	Officer Director	$1,473	$0	$1,473
MARCI JOHNSON	BOARD VICE CHAIR	3.00	Officer Director	$0	$0	$0
BRIAN MIDDLETON	BOARD SECRETARY/TREASURER	3.00	Officer Director	$1,275	$0	$1,275
HECTOR CORTEZ	BOARD DIRECTOR	3.00	Director	$0	$0	$0
STEVE DUNN	BOARD DIRECTOR	3.00	Director	$2,806	$0	$2,806
JAMES NASTARS	PRESIDENT/CEO	40.00	Officer	$447,373	$80,264	$527,637
RANDY DOERKSEN	SVP CHIEF FINANCIAL OFFICER	40.00	Officer	$260,135	$58,906	$319,041
WADE BRUENDL	SVP CHIEF STRATEGY OFFICER	40.00	Key Emp	$245,877	$13,542	$259,419
BRIAN DAVIDSON	SVP CHIEF BUSINESS OFFICER	40.00	Key Emp	$393,073	$-103,824	$289,249
EVAN WILSON	SVP CHIEF EXPERIENCE OFFICER	40.00	Key Emp	$343,399	$-83,120	$260,279
KAREN CALLAWAY	SVP CHIEF RISK OFFICER	40.00	Key Emp	$191,944	$42,485	$234,429
JAMIE HARRISON	SVP CHIEF RETAIL OFFICER	40.00	Key Emp	$329,751	$-40,711	$289,040
CLIFF SHOFF	VP CHIEF TECHNOLOGY OFFICER	40.00	Key Emp	$192,467	$42,023	$234,490
JAMES HOMAN	FINANCIAL ADVISOR	40.00	Highest	$248,067	$12,394	$260,461
JOHN BECKMAN	DIRECTOR OF REAL ESTATE & BUS. LEND.	40.00	Highest	$184,001	$13,624	$197,625
GABE SCHLICKAU	VP CHIEF DELIVERY OFFICER	40.00	Highest	$140,850	$36,660	$177,510
HEATHER GATES	DIRECTOR OF CONSUMER LENDING	40.00	Highest	$131,475	$9,890	$141,365
DONNELLE STEWART	CONTROLLER	40.00	Highest	$119,730	$7,089	$126,819

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
2018	$75,229,939	$71,016,787	$1,215,121,922	$4,213,152