VyStar 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

1952

Legal Domicile

Phone

9047776000

Tax Period

2023-01-01 to 2023-12-31

VyStar Credit Union, founded in 1952, is a major nonprofit that reported $759.7M in total revenue in fiscal year 2023. Revenue grew 18% year-over-year, indicating healthy expansion. Expenses of $735.2M left a modest 3% surplus.

Mission

VYSTAR CREDIT UNION EXISTS TO SERVE THE FINANCIAL NEEDS OF OUR MEMBERS BY PROVIDING QUALITY PRODUCTS AND SERVICES WHILE MAINTAINING FISCAL SOUNDNESS. OUR PURPOSE IS TO DO GOOD AND OUR CORE VALUE IS TO LEAD BY EXAMPLE IN EVERYTHING WE DO.

Program Service Accomplishments

Program 1

PROVIDE CONSUMER AND BUSINESS LOAN PRODUCTS TO MEMBERS AT COMPETITIVE RATES WITH MINIMUAL OR NO FEES.

Program 2

PROVIDE DEPOSIT PRODUCTS TO INDIVIDUAL MEMBERS AND BUSINESS MEMBERS AT COMPETITIVE RATES WITH MINIMUAL OR NO FEES.

Program 3

PROVIDE INVESTMENT, INSURANCE, AND TITLE AGENCY SERVICES TO MEMBERS WITH MINIMAL FEES.

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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 $628,787,490

Investment Income $131,567,654

Other Revenue $-613,570

TOTAL REVENUE $759,741,574

Expense Breakdown

Grants Paid $2,036,471

Salaries & Benefits $219,111,965

Fundraising Expenses $0

Program Expenses $0

Other Expenses $514,011,534

TOTAL EXPENSES $735,159,970

Year-over-Year Comparison

	2023	2022	Change
Revenue	$759,741,574	$645,478,610	+0.2%
Expenses	$735,159,970	$572,131,606	+0.3%
Net Income	$24,581,604	$73,347,004	-0.7%

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

2976

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

$3,802,523

Total Directors

$24,912

Key Employees

$2,768,734

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	SECRETARY	5.0	Officer Director	$6,906	$0	$6,906
N/A	TREASURER	5.0	Officer Director	$5,109	$0	$5,109
N/A	CHAIRMAN	5.0	Officer Director	$3,651	$0	$3,651
N/A	VICE CHAIRMAN	5.0	Officer Director	$2,877	$0	$2,877
N/A	BOARD MEMBER	5.0	Director	$0	$0	$0
N/A	BOARD MEMBER	5.0	Director	$2,098	$0	$2,098
N/A	BOARD MEMBER	5.0	Director	$0	$0	$0
N/A	BOARD MEMBER (TERM DATE 8/31/23)	0.0	Director	$0	$0	$0
N/A	BOARD MEMBER	0.0	Director	$0	$0	$0
N/A	BOARD MEMBER	5.0	Director	$4,271	$0	$4,271
N/A	PRESIDENT/CEO	40.0	Officer	$2,150,560	$48,371	$2,198,931
N/A	COO	40.0	Officer	$985,424	$47,371	$1,032,795
N/A	CFO	40.0	Officer	$503,559	$48,695	$552,254
N/A	CHIEF LENDING OFFICER	40.0	Key Emp	$596,480	$41,527	$638,007
N/A	CHIEF MBRSHP EXP OFCR / INTERIM CHF LENDING OFCR	40.0	Key Emp	$721,437	$48,602	$770,039
N/A	Chief Human Resource Officer	40.0	Key Emp	$501,587	$40,332	$541,919
N/A	CHIEF INFORMATION OFFICER	40.0	Key Emp	$791,677	$27,092	$818,769
N/A	CHIEF MARKETING OFFICER	40.0	Highest	$491,579	$40,732	$532,311
N/A	SVP/Chief Financial Performance Officer	40.0	Highest	$379,320	$47,992	$427,312
N/A	VP/Mortgage Banker	40.0	Highest	$521,992	$38,428	$560,420
N/A	Senior Commercial Banker	40.0	Highest	$462,679	$42,377	$505,056
N/A	CHIEF RISK OFFICER & GENERAL C	40.0	Highest	$509,098	$53,190	$562,288
N/A	EVP/CFO (TERM DATE 4/30/22)	0.0		$435,688	$0	$435,688

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	$759,741,574	$735,159,970	$13,578,667,359	$24,581,604
2022	$645,478,610	$572,131,606	$13,659,535,141	$73,347,004
2021	$554,973,970	$447,918,678	$11,652,125,153	$107,055,292
2020	$521,003,426	$447,623,069	$10,011,774,367	$73,380,357
2019	$471,645,316	$412,658,303	$9,117,136,795	$58,987,013
2018	$391,658,793	$311,249,884	$8,284,176,285	$80,408,909