Transcend 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

1934

Legal Domicile

Phone

5024593000

Tax Period

2023-01-01 to 2023-12-31

Transcend Credit Union, founded in 1934, is a mid-sized nonprofit that reported $24.5M in total revenue in fiscal year 2023. Revenue surged 24% from the prior year, signaling strong growth momentum. Expenses of $21.4M left a modest 13% surplus.

Mission

THE PURPOSE OF THIS CREDIT UNION SHALL BE TO PROMOTE THRIFT AND TO PROVIDE CREDIT FOR ITS MEMBERS.

Program Service Accomplishments

Program 1

TRANSCEND CREDIT UNION (THE "CREDIT UNION") IS A STATE CHARTERED COOPERATIVE ASSOCIATION ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AMONG AND CREATING A SOURCE OF CREDIT FOR ITS MEMBERS. THE...

TRANSCEND CREDIT UNION (THE "CREDIT UNION") IS A STATE CHARTERED COOPERATIVE ASSOCIATION ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AMONG AND CREATING A SOURCE OF CREDIT FOR ITS MEMBERS. THE CREDIT UNION PROVIDES MORTGAGE, VEHICLE AND OTHER CONSUMER LOANS TO ITS MEMBERS. THE CREDIT UNION ALSO OFFERS A VARIETY OF ACCOUNTS FOR MEMBERS TO TRANSACT AND SAVE, INCLUDING SHARE DRAFT ACCOUNTS AND SHARE CERTIFICATES. AS A MEMBER-OWNED ORGANIZATION, THE CREDIT UNION STRIVES TO PROVIDE COMPETITIVE INTEREST AND DIVIDEND RATES TO ITS MEMBERS AND CONVENIENT WAYS FOR MEMBERS TO ACCESS THEIR ACCOUNTS, INCLUDING ONLINE AND MOBILE BANKING AND SHARED BRANCHING SERVICES.

Program 2

THE CREDIT UNION OFFERS CREDIT LIFE AND DISABILITY INSURANCE TO ITS MEMBERS WHEN THEY FINANCE A VEHICLE OR OPEN A CREDIT CARD. THIS INSURANCE WOULD PAY OFF THE LOAN IN THE CASE OF A DEATH OR...

THE CREDIT UNION OFFERS CREDIT LIFE AND DISABILITY INSURANCE TO ITS MEMBERS WHEN THEY FINANCE A VEHICLE OR OPEN A CREDIT CARD. THIS INSURANCE WOULD PAY OFF THE LOAN IN THE CASE OF A DEATH OR DISABILITY.

Program 3

THE CREDIT UNION OFFERS AUTO WARRANTIES AT FAIR PRICES TO ITS MEMBERS. THESE WARRANTIES ARE COMPREHENSIVE AND HELP WITH THE COSTS OF REPAIR OF THE VEHICLE.

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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 $21,153,577

Investment Income $2,965,127

Other Revenue $363,860

TOTAL REVENUE $24,482,564

Expense Breakdown

Grants Paid $5,500

Salaries & Benefits $7,223,477

Fundraising Expenses $0

Program Expenses $0

Other Expenses $14,166,591

TOTAL EXPENSES $21,395,568

Year-over-Year Comparison

	2023	2022	Change
Revenue	$24,482,564	$19,810,311	+0.2%
Expenses	$21,395,568	$16,778,299	+0.3%
Net Income	$3,086,996	$3,032,012	+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

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

$2,112,562

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	SECRETARY	1.0	Officer Director	$0	$0	$0
N/A	CHAIR	1.0	Officer Director	$0	$0	$0
N/A	VICE CHAIR	1.0	Officer Director	$0	$0	$0
N/A	TREASURER	1.0	Officer Director	$0	$0	$0
N/A	BOARD MEMBER	1.0	Director	$0	$0	$0
N/A	BOARD MEMBER	1.0	Director	$0	$0	$0
N/A	BOARD MEMBER	1.0	Director	$0	$0	$0
N/A	BOARD MEMBER	1.0	Director	$0	$0	$0
N/A	BOARD MEMBER	1.0	Director	$0	$0	$0
N/A	SVP/Operations	40.0	Officer	$235,627	$37,152	$272,779
N/A	VP/FINANCE AND CONTROLLER	40.0	Officer	$181,039	$30,100	$211,139
N/A	PRESIDENT/CEO	40.0	Officer	$747,506	$405,026	$1,152,532
N/A	EXECUTIVE VICE PRESIDENT	40.0	Officer	$391,527	$84,585	$476,112
N/A	DIRECTOR OF IT	40.0	Highest	$139,668	$24,265	$163,933
N/A	CHIEF RETAIL BANKING OFFICER	40.0	Highest	$149,728	$23,027	$172,755
N/A	CHIEF LENDING OFFICER	40.0	Highest	$195,912	$14,105	$210,017
N/A	Chief Administration Officer	40.0	Highest	$121,517	$18,755	$140,272
N/A	CHIEF EXPERIENCE OFFICER	40.0	Highest	$140,355	$18,142	$158,497

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	$24,482,564	$21,395,568	$519,269,898	$3,086,996
2022	$19,810,311	$16,778,299	$510,121,049	$3,032,012
2021	$18,903,367	$16,251,679	$487,024,180	$2,651,688
2020	$20,170,536	$17,896,615	$462,595,964	$2,273,921
2019	$22,571,782	$18,822,376	$445,358,631	$3,749,406
2018	$20,958,735	$17,848,003	$412,896,962	$3,110,732