PIEDMONT ADVANTAGE 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

1949

Legal Domicile

Principal Officer

DION WILLIAMS

Phone

8004337228

Tax Period

2023-01-01 to 2023-12-31

PIEDMONT ADVANTAGE CREDIT UNION, founded in 1949, is a mid-sized nonprofit that reported $21.4M in total revenue in fiscal year 2023. Revenue grew 14% year-over-year, indicating healthy expansion.

Mission

EMPOWER OUR TEAMMATES TO WORK WITHIN THE COMMUNITIES WE SERVE SO THAT OUR MEMBERS HAVE ACCESS TO AFFORDABLE CREDIT AND FINANCIAL SERVICES NEEDED TO GROW AND SUSTAIN THEIR WEALTH AND FINANCIAL LIVELIHOOD.

Program Service Accomplishments

Program 1

THE CREDIT UNION OFFERS VALUABLE BANKING SOLUTIONS TO OVER 30,000 MEMBERS. WITH ACCESS TO OVER 5,000 BRANCHES WITHIN THE SHARE BRANCH NETWORK AND 35,000 SURCHARGE-FREE ATMS, MEMBERSHIP IS OPEN TO...

THE CREDIT UNION OFFERS VALUABLE BANKING SOLUTIONS TO OVER 30,000 MEMBERS. WITH ACCESS TO OVER 5,000 BRANCHES WITHIN THE SHARE BRANCH NETWORK AND 35,000 SURCHARGE-FREE ATMS, MEMBERSHIP IS OPEN TO INDIVIDUALS, WHO RESIDE, WORK OR WORSHIP IN ONE OF THE EIGHT COMMUNITIES THE CREDIT UNION SERVES IN NORTH CAROLINA OR WHO ARE EMPLOYED BY ONE OF ITS EMPLOYER COMPANIES. IN ADDITION, THE CREDIT UNION IS COMMITTED TO SOCIAL RESPONSIBILITY DIVERSITY INCLUSION TO POSITIVELY IMPACT THE COMMUNITY AND STATE.

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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 $18,353,940

Investment Income $2,877,529

Other Revenue $190,002

TOTAL REVENUE $21,421,471

Expense Breakdown

Grants Paid $3,831

Salaries & Benefits $8,232,588

Fundraising Expenses $0

Other Expenses $13,843,684

TOTAL EXPENSES $22,080,103

Year-over-Year Comparison

	2023	2022	Change
Revenue	$21,421,471	$18,839,833	+0.1%
Expenses	$22,080,103	$20,256,042	+0.1%
Net Income	$-658,632	$-1,416,209	-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

123

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

$866,013

Total Directors

$430

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL WESTBROOK	SR FINANCIAL	40.00	Highest	$393,459	$11,195	$404,654
DION WILLIAMS	PRESIDENT/CE	40.00	Officer	$359,871	$30,050	$389,921
JEANETTE STARK	CLO/GENERAL	40.00	Officer	$224,077	$18,556	$242,633
PETER MINFORD	CFO	40.00	Officer	$220,241	$13,046	$233,287
ROBERT PAYNE	SVP OF IT	40.00	Highest	$147,406	$13,504	$160,910
JAMES MOORE	VP OF RISK	40.00	Highest	$131,957	$19,811	$151,768
KIM ADKINS	SVP OF MARKE	40.00	Highest	$132,600	$16,552	$149,152
SANDY MILTON	SVP SERVICE	40.00	Highest	$132,273	$15,284	$147,557
DARREN CRANFILL	DIRECTOR	1.00	Director	$0	$86	$86
MARK LINVILLE	DIRECTOR	1.00	Director	$0	$86	$86
DIANA SANTOS-JOHNSON	DIRECTOR	1.00	Director	$0	$86	$86
TOM MEKIS	CHAIRMAN	1.00	Officer Director	$0	$86	$86
STEVE GILLILAND	VICE CHAIRMA	1.00	Officer Director	$0	$86	$86
JUSTINE LERCH	DIRECTOR	1.00	Director	$0	$0	$0
BRYAN MYERS	DIRECTOR	1.00	Director	$0	$0	$0
GEORGE PRICE	DIRECTOR	1.00	Director	$0	$0	$0
MARK SAUNDERS	SECRETARY	1.00	Officer 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
2024	No data	No data	No data	No data
2023	$21,421,471	$22,080,103	$389,505,933	$-658,632
2022	$18,839,833	$20,256,042	$405,096,501	$-1,416,209
2021	$18,534,745	$16,793,146	$450,735,683	$1,741,599
2020	$19,120,916	$20,761,334	$407,094,606	$-1,640,418
2019	$22,095,637	$22,060,606	$347,571,681	$35,031
2018	$20,423,699	$19,468,809	$355,223,530	$954,890