MCDOWELL CORNERSTONE CREDIT UNION

EIN: 566077585

Marion, NC

Total Revenue
$1,940,603
Total Expenses
$1,490,237
Total Assets
$37,502,296
Net Assets
$6,531,460
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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
1967
Legal Domicile
NC
Principal Officer
JUDY W THOMPSON TREASURER
Phone
8286524141
Tax Period
2025-01-01 to 2025-12-31

MCDOWELL CORNERSTONE CREDIT UNION, founded in 1967, is a community nonprofit that reported $1.9M in total revenue in fiscal year 2025. Revenue surged 22% from the prior year, signaling strong growth momentum. The organization ran a surplus of $450K, a strong 23% operating margin.

Mission

To provide financial services to members at reasonable rates and pay reasonable dividends on deposits

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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%)

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Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $1,486,321
Investment Income $454,282
Other Revenue $0
TOTAL REVENUE $1,940,603

Expense Breakdown

Grants Paid $0
Salaries & Benefits $536,547
Fundraising Expenses $0
Program Expenses $0
Other Expenses $953,690
TOTAL EXPENSES $1,490,237

Year-over-Year Comparison

2025 2024 Change
Revenue $1,940,603 $1,584,217 +0.2%
Expenses $1,490,237 $1,157,254 +0.3%
Net Income $450,366 $426,963 +0.1%
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

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Governance

Voting Members
7
Independent Members
7
Employees
7
Volunteers
11

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
0
$0
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MIKA ELLIOTT Director 0.75
Director
$0 $0 $0
SYLVIA SCOTT Director 0.75
Director
$0 $0 $0
Stephen Ward Chairman Supervisory Committee 0.75
Director
$0 $0 $0
Faye Marlowe Director 0.75
Director
$0 $0 $0
Brenda Vaughn Director, Supervisory Committee 0.75
Director
$0 $0 $0
Ron Wilkerson Credit Committee Chairperson 0.75
Director
$0 $0 $0
PAT ESTES Vice Pres BOD 0.75
Director
$0 $0 $0
LISA MORGAN President BOD 0.75
Director
$0 $0 $0
Judy W Thompson Treas BOD 0.75
Director
$0 $0 $0
Laura Salas Bonilla Superviaory Committee Mbr 0.75
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 $1,940,603 $1,490,237 $37,502,296 $450,366
2024 $1,584,217 $1,157,254 $36,124,582 $426,963
2023 $1,351,692 $1,251,692 $34,358,435 $100,000
2022 $941,300 $821,846 $35,988,937 $119,454
2021 $750,086 $726,121 $34,921,223 $23,965
2020 $857,545 $785,065 $32,268,609 $72,480
2019 $1,052,127 $811,668 $27,050,167 $240,459
2018 $1,004,435 $781,709 $26,215,756 $222,726
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