SPC 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

1941

Legal Domicile

Principal Officer

LINDA WEATHERFORD

Phone

8433830090

Tax Period

2024-01-01 to 2024-12-31

SPC CREDIT UNION, founded in 1941, is a mid-sized nonprofit that reported $19.8M in total revenue in fiscal year 2024. Revenue surged 26% from the prior year, signaling strong growth momentum. The organization ran a surplus of $4.2M, a strong 21% operating margin.

Mission

STATE CHARTERED CREDIT UNION

Program Service Accomplishments

Program 1

Expenses: $15,074,885

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.

Program 2

COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS FUND

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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 (2024)

Revenue Breakdown

Contributions & Grants $2,698,839

Program Service Revenue $15,985,286

Investment Income $1,112,651

Other Revenue $0

TOTAL REVENUE $19,796,776

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,040,918

Fundraising Expenses $0

Program Expenses $15,074,885

Other Expenses $10,578,896

TOTAL EXPENSES $15,619,814

Year-over-Year Comparison

	2024	2023	Change
Revenue	$19,796,776	$15,750,567	+0.3%
Expenses	$15,619,814	$14,168,156	+0.1%
Net Income	$4,176,962	$1,582,411	+1.6%

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

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

$182,910

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LINDA WEATHERFORD	PRESIDENT/CE	40.00	Officer	$182,910	$0	$182,910
BILLY BYRD	CFO	40.00	Highest	$141,126	$0	$141,126
LATASHA COOPER	VP LENDING	40.00	Highest	$117,609	$0	$117,609
THOMAS BEASLEY	CIO	40.00	Highest	$105,732	$0	$105,732
ELAINE S HUNGERPILLER	VP HR	40.00	Highest	$104,447	$0	$104,447
JERRY CHEATHAM	VICE CHAIRMA	1.00	Director	$0	$0	$0
RICHARD COOK	BOARD MEMBER	1.00	Director	$0	$0	$0
PEGGI DAVIS	BOARD MEMBER	1.00	Director	$0	$0	$0
LYNN HARRELSON	BOARD MEMBER	1.00	Director	$0	$0	$0
JIMMY SHELLEY	SECRETARY/TR	1.00	Director	$0	$0	$0
SYLVESTER WILSON	BOARD MEMBER	1.00	Director	$0	$0	$0
TRAVIS WALTERS	CHAIRMAN	1.00	Officer	$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	$19,796,776	$15,619,814	$240,682,854	$4,176,962
2023	$15,750,567	$14,168,156	$239,331,326	$1,582,411
2022	$13,550,656	$11,601,765	$243,239,953	$1,948,891
2021	$12,295,768	$11,162,816	$231,524,692	$1,132,952
2020	$11,834,754	$10,680,783	$207,674,821	$1,153,971
2019	$11,666,247	$10,088,717	$164,592,799	$1,577,530
2018	$10,397,338	$9,079,396	$160,522,294	$1,317,942