NOVA CREDIT UNION

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1934

Legal Domicile

Principal Officer

MICHELLE HAYES

Phone

7043923418

Tax Period

2024-01-01 to 2024-12-31

NOVA CREDIT UNION, founded in 1934, is a community nonprofit that reported $7.6M in total revenue in fiscal year 2024. Net assets of $17.7M represent 28 months of operating reserves.

Mission

LOANS TO MEMBERS

Program Service Accomplishments

Program 1

DURING THE YEAR, THE CREDIT UNION SERVED ITS MEMBERS BY PROVIDING LOANS AT REASONABLE RATES. IT ALSO ACCEPTED DEPOSITS AND PAID REASONABLE RATES OF INTEREST ON THOSE DEPOSITS.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $6,426,881

Investment Income $1,136,638

Other Revenue $0

TOTAL REVENUE $7,563,519

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,062,473

Fundraising Expenses $0

Other Expenses $4,379,869

TOTAL EXPENSES $7,442,342

Year-over-Year Comparison

	2024	2023	Change
Revenue	$7,563,519	$7,295,637	+0.0%
Expenses	$7,442,342	$7,115,677	+0.0%
Net Income	$121,177	$179,960	-0.3%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

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

$151,835

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHELLE HAYES	PRESIDENT/CE	40.00	Key Emp	$151,835	$0	$151,835
KIM BOGGAN	TREASURER	N/A	Director	$0	$0	$0
LOLA BUMBARGER	SECRETARY	N/A	Director	$0	$0	$0
JOHN GETER	VICE CHAIRMA	N/A	Director	$0	$0	$0
SHERRY GORDON	BOARD MEMBER	N/A	Director	$0	$0	$0
HUYLA JACKSON	BOARD MEMBER	N/A	Director	$0	$0	$0
LORI KAWULOK	BOARD MEMBER	N/A	Director	$0	$0	$0
PHILLIP KRIDEL	CHAIRMAN	N/A	Director	$0	$0	$0
ROY MONTAGUE	BOARD MEMBER	N/A	Director	$0	$0	$0
RITA STREATER	BOARD MEMBER	N/A	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
2025	No data	No data	No data	No data
2024	$7,563,519	$7,442,342	$120,317,949	$121,177
2023	$7,295,637	$7,115,677	$120,556,862	$179,960
2022	$7,093,444	$5,913,646	$124,030,891	$1,179,798
2021	$7,509,180	$6,501,332	$129,418,151	$1,007,848
2020	$6,983,179	$7,886,341	$120,071,180	$-903,162
2019	$7,707,216	$7,625,366	$106,297,179	$81,850
2018	$7,923,824	$7,545,205	$107,745,310	$378,619