GULF WINDS 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

1954

Legal Domicile

Principal Officer

LARRY HAYES

Phone

8504799601

Tax Period

2023-01-01 to 2023-12-31

GULF WINDS CREDIT UNION, founded in 1954, is a mid-sized nonprofit in the Public & Societal Benefit sector that reported $63.0M in total revenue in fiscal year 2023. Revenue surged 23% from the prior year, signaling strong growth momentum. Expenses of $55.4M left a modest 12% surplus.

Mission

WE'RE ABOUT MORE THAN BANKING. - WE CARE FOR OUR TEAM, MEMBERS, AND COMMUNIES BY INVESTING IN THEIR SUCCESS. WE BELIEVE YOUR JOURNEY MATTERS. - WE GUIDE MEMBERS ALONG LIFE'S MOMENTS AND MILESTONES. WE PROVIDE SOLUTIONS, NOT OBSTACLES. - BACKED BY OUR PEOPLE, WE LEVERAGE TECHNOLOGY AND FINANCIAL RESOURCES TO PROVIDE A GREAT EXPERIENCE, SIMPLY. WE CREATE OPPORTUNITIES FOR A BETTER TOMORROW. - OUR STRENGTH PROVIDES THE PATH TO YOUR DREAMS.

Program Service Accomplishments

Program 1

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

Program 2

TO MEET THE FINANCIAL NEEDS OF ITS MEMBERS, THE CREDIT UNION 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 $28,936,465

Investment Income $15,452,410

Other Revenue $18,626,984

TOTAL REVENUE $63,015,859

Expense Breakdown

Grants Paid $175,313

Salaries & Benefits $19,763,137

Fundraising Expenses $0

Other Expenses $35,504,088

TOTAL EXPENSES $55,442,538

Year-over-Year Comparison

	2023	2022	Change
Revenue	$63,015,859	$51,125,321	+0.2%
Expenses	$55,442,538	$42,641,634	+0.3%
Net Income	$7,573,321	$8,483,687	-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

Governance

Voting Members

Independent Members

Employees

293

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

$2,061,551

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RL OSWALD SR	CHAIRMAN	1.00	Director	$0	$0	$0
A LARRY MALTBY	SECRETARY	1.00	Director	$0	$0	$0
DONNA LUEBBERS	TREASURER	1.00	Director	$0	$0	$0
GERALD EADY	DIRECTOR	1.00	Director	$0	$0	$0
ERIC HAINES	DIRECTOR	1.00	Director	$0	$0	$0
SHELLY FOUNTAIN	DIRECTOR	1.00	Director	$0	$0	$0
WILLIAM FRITCHMAN	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTOPHER RUTLEDGE	CEO	45.00	Officer	$550,024	$41,060	$591,084
KURT STENERSON	EVP OF DIGITAL INNOVATION	45.00	Officer	$348,013	$30,326	$378,339
ASHLEY JANSKY	EVP MEMBER EXPERIENCE	45.00	Officer	$326,901	$44,677	$371,578
TERRY JOHNSON	EVP OF STRATEGY AND PERFO	45.00	Officer	$326,733	$46,079	$372,812
DANIEL SOUERS	CEO	45.00	Officer	$293,924	$53,814	$347,738
JARRELL FLANDERS	COO	45.00	Highest	$169,642	$28,845	$198,487
CLAY MALLARD	FINANCIAL ADVISOR	45.00	Highest	$169,537	$40,973	$210,510
STEPHANIE CHASE	VP OF RISK MANAGEMENT	45.00	Highest	$157,680	$33,441	$191,121
MITCHELL OLINSKY	VP OF TECHNOLOGY OPERATIONS	45.00	Highest	$153,688	$20,352	$174,040
SCOTT SLATTERY	CLO	45.00	Highest	$147,195	$15,844	$163,039

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	$63,015,859	$55,442,538	$1,107,021,415	$7,573,321
2022	$51,125,321	$42,641,634	$1,035,650,446	$8,483,687
2021	$45,342,070	$39,287,810	$1,014,783,334	$6,054,260
2020	$41,997,576	$39,119,691	$919,701,095	$2,877,885
2019	$40,811,222	$35,457,592	$719,554,550	$5,353,630