MIDFLORIDA 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

Tax Period

2023-01-01 to 2023-12-31

MIDFLORIDA CREDIT UNION, founded in 1954, is a major nonprofit that reported $407.8M in total revenue in fiscal year 2023. Revenue surged 30% from the prior year, signaling strong growth momentum. The organization ran a surplus of $100.0M, a strong 25% operating margin.

Program Service Accomplishments

Program 1

Expenses: $307,709,900

DIVIDENDS AND INTEREST PAID TO MEMBERS ON THEIR SHARE ACCOUNTS, MONEY MARKET ACCOUNTS, AND CERTIFICATE OF DEPOSIT ACCOUNTS.

Program 2

OFFICE EXPENSES AND DATA PROCESSING EXPENSES NECESSARY TO SUPPORT MEMBER ACCOUNT AND LOAN ACTIVITY BY PROVIDING MEMBERS ACCESS TO THEIR ACCOUNTS VIA HOME BANKING, ATM NETWORKS, AND IN PERSON AT THE...

Program 3

EMPLOYEE LABOR AND BENEFIT COSTS INCURRED TO SUPPORT SAVINGS SERVICES, LOAN ORIGINATIONS, AND SERVICING THE LOAN PORTFOLIO FOR ITS MEMBERS

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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 $380,830,234

Investment Income $26,686,178

Other Revenue $241,569

TOTAL REVENUE $407,757,981

Expense Breakdown

Grants Paid $0

Salaries & Benefits $111,715,525

Fundraising Expenses $0

Program Expenses $307,709,900

Other Expenses $195,994,375

TOTAL EXPENSES $307,709,900

Year-over-Year Comparison

	2023	2022	Change
Revenue	$407,757,981	$312,549,911	+0.3%
Expenses	$307,709,900	$222,811,814	+0.4%
Net Income	$100,048,081	$89,738,097	+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

1713

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

$5,758,196

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SAMUEL S MOSELEY	PRESIDENTCEO	50.00	Officer	$1,125,630	$0	$1,125,630
STERLING GRUBBS	CHIEF LENDING OFFICER	50.00	Officer	$501,474	$0	$501,474
ZELDA V ABRAM	CFO	50.00	Officer	$494,604	$0	$494,604
CHRISTOPHER DAVID	COO	50.00	Officer	$470,747	$0	$470,747
TIMOTHY S STALEY	CHIEF COMMERCIAL LENDING	50.00	Officer	$429,491	$0	$429,491
MICHAEL H CHEESEMAN	CAO	50.00	Officer	$351,232	$0	$351,232
ACIE FORRER	SW FL MKT PRES	50.00	Officer	$344,894	$0	$344,894
HUGH DAILEY	CEO SE TRUSTSPECIAL ASST MGR	50.00	Officer	$341,574	$0	$341,574
JILL H DAVIS	CHIEF MARKETING OFFICER	50.00	Officer	$337,412	$0	$337,412
JAMES R HAGGINS	CHIEF OF COLLECTIONS	50.00	Officer	$330,692	$0	$330,692
TIMOTHY LYSAK	CHIEF INFO OFFICER	50.00	Officer	$293,267	$0	$293,267
VANESSA L HERNANDEZ	CHIEF RETAIL DELIVERY	50.00	Officer	$292,656	$0	$292,656
JEFFREY BAKER	N CENTRAL FL MKT PRESIDENT	50.00	Officer	$224,663	$0	$224,663
DONNA BROWN	CHIEF AUDIT & COMPLIANCE	50.00	Officer	$219,860	$0	$219,860
DEBRA THOMAS	ASST MGR COLLECTIONS	50.00	Highest	$192,038	$0	$192,038
ELSIE SELLERS	INSIDE MTG LOAN ORIGINATOR	50.00	Highest	$125,061	$0	$125,061
CURTIS BEALS	DEVELOPER II	50.00	Highest	$118,316	$0	$118,316
WENDY DIAZ BERRIOS	INSIDE MTG LOAN ORIGINATOR	50.00	Highest	$117,536	$0	$117,536
NATHAN SLAGLE	INSIDE MTG LOAN ORIGINATOR	50.00	Highest	$109,103	$0	$109,103
CHESTER A BROJEK	VICE-CHAIRMAN	15.00	Director	$0	$0	$0
NICK SUDZINA	TREASURER	15.00	Director	$0	$0	$0
KENNETH J HEUBUSCH	DIRECTOR	15.00	Director	$0	$0	$0
DAN PIERCE	SECRETARY	15.00	Director	$0	$0	$0
CAMILLE BLAKE	SUPERVISORY COMM	15.00	Director	$0	$0	$0
SARITA GUILLORY	SUPERVISORY COMM	0.00	Director	$0	$0	$0
GARY I RUHLE	DIRECTOR	15.00	Director	$0	$0	$0
DONALD WILLIAMS SR	DIRECTOR	15.00	Director	$0	$0	$0
DARRELL L JENSEN	DIRECTOR	15.00	Director	$0	$0	$0
HARRY R WILLIAMS	DIRECTOR	15.00	Director	$0	$0	$0
SHIRLEY PELLARCHY	DIRECTOR	15.00	Director	$0	$0	$0
KATHRYN L ASHMORE	SUPERVISORY COMM	15.00	Director	$0	$0	$0
CHRISTOPHER GEIGER	CHAIRMAN	15.00	Director	$0	$0	$0
TERRENCE MCGRIFF	CHAIRMAN SUP COMM	15.00	Director	$0	$0	$0
JOHN J UPPERCO	DIRECTOR	15.00	Director	$0	$0	$0
CONNIE MILITO	SUPERVISORY COMM	15.00	Director	$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
2024	No data	No data	No data	No data
2023	$407,757,981	$307,709,900	$7,523,425,888	$100,048,081
2022	$312,549,911	$222,811,814	$6,612,347,991	$89,738,097
2021	$278,382,544	$169,567,552	$6,049,933,825	$108,814,992
2020	$253,930,280	$201,783,472	$5,118,967,278	$52,146,808
2019	$222,035,479	$159,512,531	$4,422,009,998	$62,522,948
2018	$186,228,628	$145,756,695	$3,286,122,495	$40,471,933