MEMBERS HERITAGE CREDIT UNION INC (EIN 610575996) - Form 990 Financial Analysis & Trantor Score

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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

1960

Legal Domicile

Principal Officer

PAT FERRY

Phone

8592593466

Tax Period

2023-01-01 to 2023-12-31

MEMBERS HERITAGE CREDIT UNION INC, founded in 1960, is a mid-sized nonprofit that reported $27.8M in total revenue in fiscal year 2023. Revenue surged 37% from the prior year, signaling strong growth momentum. The organization ran a surplus of $4.7M, a strong 17% operating margin.

Mission

THE PURPOSE OF THIS CREDIT UNION SHALL BE TO PROMOTE THRIFT AND TO PROVIDE CREDIT TO 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 $22,110,760

Investment Income $5,674,765

Other Revenue $0

TOTAL REVENUE $27,785,525

Expense Breakdown

Grants Paid $0

Salaries & Benefits $7,206,710

Fundraising Expenses $0

Other Expenses $15,841,932

TOTAL EXPENSES $23,048,642

Year-over-Year Comparison

	2023	2022	Change
Revenue	$27,785,525	$20,270,190	+0.4%
Expenses	$23,048,642	$16,791,687	+0.4%
Net Income	$4,736,883	$3,478,503	+0.4%

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

102

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

$316,342

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BOBBY A FLYNN	CHAIRMAN	2.00	Officer Director	$0	$0	$0
MANLUS BURTON	TREASURER	2.00	Officer Director	$0	$0	$0
MIKE PROCTOR	VICE CHAIRMAN	2.00	Officer Director	$0	$0	$0
MIKE HARDING	SECRETARY	2.00	Director	$0	$0	$0
MICHELLE THOMAS	DIRECTOR	2.00	Director	$0	$0	$0
NATHAN MCCONATHY	ASSOCIATE DIRECTOR	2.00	Director	$0	$0	$0
PATRICK H FERRY	PRESIDENT	40.00	Officer	$310,116	$6,226	$316,342
SHERRI BLAKEMAN	VICE PRESIDENT	40.00	Highest	$171,659	$3,464	$175,123
DENNIS WEISKIRCHER	IS MANAGER	40.00	Highest	$105,558	$2,512	$108,070
JEFFREY MARSHALL	CONTROLLER	40.00	Highest	$171,716	$3,426	$175,142
JANICE PHILLIPS	VP OF LENDING	40.00	Highest	$112,926	$2,462	$115,388
KRISTIE FARMER	VP OF SERVIE	40.00	Highest	$103,439	$0	$103,439

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	$27,785,525	$23,048,642	$522,298,717	$4,736,883
2022	$20,270,190	$16,791,687	$509,009,482	$3,478,503
2021	$17,553,879	$16,041,612	$501,923,222	$1,512,267
2020	$19,831,586	$17,693,867	$458,955,325	$2,137,719
2019	$19,389,734	$16,432,226	$387,096,648	$2,957,508
2018	$17,715,112	$14,846,820	$366,007,874	$2,868,292

MEMBERS HERITAGE CREDIT UNION INC