ASSOCIATED CREDIT UNION (EIN 580240950) - Form 990 Financial Analysis & Trantor Score

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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

1930

Legal Domicile

Principal Officer

C LIN HODGES

Phone

7704488200

Tax Period

2023-01-01 to 2023-12-31

ASSOCIATED CREDIT UNION, founded in 1930, is a major nonprofit that reported $108.6M in total revenue in fiscal year 2023. Revenue surged 23% from the prior year, signaling strong growth momentum. Expenses of $95.7M left a modest 12% surplus.

Mission

STATE-CHARTERED CREDIT UNION THAT OFFERS MEMBERS FINANCIAL PRODUCTS THAT FULFILL THEIR NEEDS, SERVICES THAT EXCEED THEIR EXPECTATIONS, AND RELATIONSHIPS THAT INSPIRE THEIR TRUST.

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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 $90,640,107

Investment Income $17,966,588

Other Revenue $0

TOTAL REVENUE $108,606,695

Expense Breakdown

Grants Paid $60,000

Salaries & Benefits $36,347,855

Fundraising Expenses $0

Other Expenses $59,265,048

TOTAL EXPENSES $95,672,903

Year-over-Year Comparison

	2023	2022	Change
Revenue	$108,606,695	$88,179,919	+0.2%
Expenses	$95,672,903	$68,611,565	+0.4%
Net Income	$12,933,792	$19,568,354	-0.3%

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

446

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

$3,082,728

Total Directors

$1,201,331

Key Employees

$1,462,404

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
C LIN HODGES	PRESIDENT/CEO/DIRECTOR	40.00	Officer Director	$1,010,513	$49,818	$1,060,331
EXCEPTIONAL HARDEN	CHAIRMAN	1.00	Officer Director	$12,000	$0	$12,000
NANCY J GARNER	VICE CHAIRPERSON	1.00	Officer Director	$12,000	$0	$12,000
TIM F KERCHEVAL	DIRECTOR	1.00	Director	$12,000	$0	$12,000
GEORGE M CLARKE	DIRECTOR	1.00	Director	$12,000	$0	$12,000
CHARLES GEHRMANN	DIRECTOR	1.00	Director	$12,000	$0	$12,000
MARGARET L PITTMAN	DIRECTOR	1.00	Director	$12,000	$0	$12,000
KEITH GETTMANN	DIRECTOR	1.00	Director	$12,000	$0	$12,000
DOYLE SPEARS	DIRECTOR	1.00	Director	$12,000	$0	$12,000
JENNIFER H CHAPIN	DIRECTOR	1.00	Director	$12,000	$0	$12,000
ALLEN BRYAN	DIRECTOR	1.00	Director	$11,000	$0	$11,000
JOHN A PETROS	DIRECTOR	1.00	Director	$12,000	$0	$12,000
BARDI ALEX	DIRECTOR	1.00	Director	$10,000	$0	$10,000
TIM BRIDGES	EXECUTIVE VP/CFO	40.00	Officer	$531,141	$49,818	$580,959
MARK WALLER	EXECUTIVE VP/COO	40.00	Officer	$519,995	$47,245	$567,240
CHAD EVANS	EXECUTIVE VP/LENDING	40.00	Officer	$397,506	$34,255	$431,761
HEIWOTE TADESSE	EXECUTIVE VP/MEMBER RELATIONS	40.00	Officer	$364,093	$54,344	$418,437
KARL MANN	VP/INFORMATION TECHNOLOGY	40.00	Key Emp	$370,885	$34,031	$404,916
THOMAS MAIELLARO	VP MARKETING	40.00	Key Emp	$245,793	$55,857	$301,650
MARGIE BURTON	VP/CARD SERVICES	40.00	Key Emp	$209,737	$49,868	$259,605
JIM LAFOND	VP/RISK MANAGEMENT	40.00	Key Emp	$228,544	$35,926	$264,470
MICHAEL HUFF	VP/RETAIL SERVICES	40.00	Key Emp	$205,608	$26,155	$231,763
BETH TYNAN	AVP/CONTROLLER	40.00	Highest	$219,725	$35,325	$255,050
TODD CHANDLER	AVP/INFORMATION TECHNOLOGY	40.00	Highest	$220,644	$35,418	$256,062
KAREN PENNINGTON	AVP/HUMAN RESOURCES	40.00	Highest	$200,014	$35,295	$235,309
LEAH ELDRIDGE	AREA PRESIDENT/AUGUSTA DIVISION	40.00	Highest	$173,328	$9,864	$183,192
ANNIA PEREIRA	AVP/LEARNING & DEVELOPMENT	40.00	Highest	$155,399	$45,018	$200,417

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	$108,606,695	$95,672,903	$2,168,088,119	$12,933,792
2022	$88,179,919	$68,611,565	$2,128,904,229	$19,568,354
2021	$74,274,351	$61,307,339	$2,094,343,004	$12,967,012
2020	$80,197,434	$70,704,198	$1,871,714,889	$9,493,236
2019	$84,842,941	$70,211,682	$1,608,213,998	$14,631,259
2018	$77,763,430	$64,569,207	$1,556,679,095	$13,194,223

ASSOCIATED CREDIT UNION