FIVE STAR 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

1964

Legal Domicile

Principal Officer

ROBERT A STEENSMA

Phone

3347937714

Tax Period

2023-01-01 to 2023-12-31

FIVE STAR CREDIT UNION, founded in 1964, is a mid-sized nonprofit that reported $54.1M in total revenue in fiscal year 2023. Revenue surged 21% from the prior year, signaling strong growth momentum. The organization ran a surplus of $12.2M, a strong 23% operating margin.

Mission

THE CREDIT UNION IS A COOPERATIVE ASSOCIATION WHICH WAS ORGANIZED TO PROMOTE THRIFT AMONG ITS MEMBERS AS WELL AS TO PROVIDE THEM WITH A SOURCE OF CREDIT. FIVE STAR SERVES MEMBERS IN COUNTIES IN THE SOUTHEAST REGION OF ALABAMA AND IN SOUTHEAST AND SOUTHWEST GEORGIA. THE TOTAL NUMBER OF MEMBERS SERVED IS IN EXCESS OF 55,000.

Program Service Accomplishments

Program 1

IN OUR EFFORTS TO PROMOTE THRIFT AMONG OUR MEMBERS, FIVE STAR PROVIDES COMPETITIVE SAVINGS PRODUCTS, WHICH INCLUDE SAVINGS, CHECKING, AND CERTIFICATE OF DEPOSIT ACCOUNTS AS WELL AS IRA SAVINGS AND...

IN OUR EFFORTS TO PROMOTE THRIFT AMONG OUR MEMBERS, FIVE STAR PROVIDES COMPETITIVE SAVINGS PRODUCTS, WHICH INCLUDE SAVINGS, CHECKING, AND CERTIFICATE OF DEPOSIT ACCOUNTS AS WELL AS IRA SAVINGS AND CERTIFICATE OF DEPOSIT ACCOUNTS.

Program 2

TO MEET THE FINANCIAL NEEDS OF OUR MEMBERS, FIVE STAR PROVIDES A SOURCE OF CREDIT BY OFFERING A VARIETY OF CONSUMER AND MORTGAGE LENDING PRODUCTS AT REASONABLE RATES OF INTEREST.

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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 $23,801,814

Investment Income $9,242,766

Other Revenue $21,077,043

TOTAL REVENUE $54,121,623

Expense Breakdown

Grants Paid $662,328

Salaries & Benefits $15,029,655

Fundraising Expenses $0

Other Expenses $26,220,059

TOTAL EXPENSES $41,912,042

Year-over-Year Comparison

	2023	2022	Change
Revenue	$54,121,623	$44,908,248	+0.2%
Expenses	$41,912,042	$32,751,215	+0.3%
Net Income	$12,209,581	$12,157,033	+0.0%

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

206

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

$2,260,161

Total Directors

Key Employees

$751,839

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WALLACE JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
SUZANN CULPEPPER	SECRETARY	1.00	Officer Director	$0	$0	$0
HAROLD STEPLER	DIRECTOR	1.00	Director	$0	$0	$0
BOBBY SWAN	DIRECTOR	1.00	Director	$0	$0	$0
CORY DRIGGERS	CHAIRMAN	1.00	Officer Director	$0	$0	$0
PAMELA SCOTT	DIRECTOR	1.00	Director	$0	$0	$0
WHIT HUSKEY	VICE-CHAIRMAN	1.00	Officer Director	$0	$0	$0
JANICE GREEN	TREASURER	1.00	Officer Director	$0	$0	$0
MICHAEL FARRIS	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT A STEENSMA	PRESIDENT/CEO	40.00	Officer	$690,948	$41,748	$732,696
TYLER BECK	SVP/COO	40.00	Officer	$399,789	$41,334	$441,123
FABIO BIASELLA	SR VICE PRESIDENT/CMO	40.00	Officer	$273,407	$33,308	$306,715
LANDON WILDES	VP/CFO	40.00	Officer	$239,574	$32,940	$272,514
MICHAEL MACHOWICZ	VP/CIO	40.00	Officer	$215,840	$36,157	$251,997
LANCE WAGNER	VP/CLO	40.00	Officer	$219,769	$35,347	$255,116
DEBORAH MCRAE	VP RISK MANAGEMENT	40.00	Key Emp	$168,951	$7,751	$176,702
ANN MARIE COOK	VP-MORTGAGE/BUSINESS LEND	40.00	Key Emp	$165,581	$7,296	$172,877
MIKE BRIDGES	VP-MARKETING/COMMUNICATION	40.00	Key Emp	$170,011	$34,230	$204,241
KELLIE ELDRIDGE	VP-RETAIL SALES/ SERVICES	40.00	Key Emp	$167,410	$30,609	$198,019
CHRISTOPHER LATTA	DIRECTOR - CONSUMER LENDIN	40.00	Highest	$138,232	$27,906	$166,138
BOBBY LANDWEHR	DIRECTOR - COMMERCIAL LEND	40.00	Highest	$150,953	$28,356	$179,309
JASON SHANKS	VP, BUSINESS INTELLIGENCE	40.00	Highest	$128,668	$24,357	$153,025
PAM PETTIS	DIRECTOR - HUMAN RESOURCES	40.00	Highest	$139,584	$30,471	$170,055
CANDICE WHITE	MORTGAGE LOAN ORIGINATOR	40.00	Highest	$170,527	$34,005	$204,532

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	$54,121,623	$41,912,042	$798,518,963	$12,209,581
2022	$44,908,248	$32,751,215	$748,664,965	$12,157,033
2021	$37,991,386	$27,776,849	$661,046,497	$10,214,537
2020	$33,601,064	$26,653,983	$557,122,826	$6,947,081
2019	$33,606,623	$25,039,310	$463,275,656	$8,567,313
2018	$29,317,856	$22,310,986	$434,524,436	$7,006,870