TEN CREDIT UNION

EIN: 620526770 Public & Societal Benefit

NASHVILLE, TN

Total Revenue
$22,886,724
Total Expenses
$21,851,509
Total Assets
$403,502,042
Net Assets
$30,761,661
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Financial Trends

Organization Details

Formation Year
1950
Legal Domicile
TN
Principal Officer
RAFAEL RONDON
Phone
6152441910
Tax Period
2024-01-01 to 2024-12-31

TEN CREDIT UNION, founded in 1950, is a mid-sized nonprofit in the Public & Societal Benefit sector that reported $22.9M in total revenue in fiscal year 2024. Revenue grew 18% year-over-year, indicating healthy expansion. Expenses of $21.9M left a modest 5% surplus.

Mission

YOUR TRUSTED FINANCIAL PARTNER FOR LIFE. WE ARE COMMITTED TO HONORING TRADITIONAL CREDIT UNION VALUES WHILE UTILIZING INNOVATION TO PROVIDE AN EXCEPTIONAL MEMBER EXPERIENCE.

Program Service Accomplishments

Program 1

AT 12/31/24, TEN CREDIT UNION (TENCU) HAS 7 LOCATIONS COVERING A WIDE GEOGRAPHIC AREA OF MIDDLE AND EAST TENNESSEE. TTCU OFFERS A WIDE RANGE OF CONSUMER CREDIT AND DEPOSIT PRODUCTS & SERVICES. THESE...

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AT 12/31/24, TEN CREDIT UNION (TENCU) HAS 7 LOCATIONS COVERING A WIDE GEOGRAPHIC AREA OF MIDDLE AND EAST TENNESSEE. TTCU OFFERS A WIDE RANGE OF CONSUMER CREDIT AND DEPOSIT PRODUCTS & SERVICES. THESE INCLUDE CREDIT CARDS, SECURED AND UNSECURED TERM AND REVOLVING LOANS, RESIDENTIAL CONSTRUCTION AND PERMANENT MORTGAGE LENDING. TEN CREDIT UNION RETAINS MOST MORTGAGE LOANS BUT OCCASIONALLY SELL MORTGAGES TO ROCKET MORTGAGE AND OTHER 3RD PARTY AFFILIATES. TEN CREDIT UNION ENTERED INTO A COMMITMENT WITH METRO AND RETAINS SERVICING. TEN CREDIT UNION PROVIDES VALUE SERVICES INCLUDING "SUMMER PAY" PROGRAMS, AND SEASONAL SAVINGS ACCOUNTS SUCH AS CHRISTMAS AND VACATION CLUB SAVINGS TO AID OUR MEMBERS IN MANAGING THEIR BUDGETS AND ACHIEVING THEIR FINANCIAL THRIFT OBJECTIVES. KEY DATA AS OF DECEMBER 31, 2024 INCLUDE 7 LOCATIONS, 79 EMPLOYEES, 19,633 MEMBERS, 13,531 LOAN ACCOUNTS AND 35,058 DEPOSIT ACCOUNTS.

Program 2

TEN CREDIT UNION ENTERED INTO A COMMITMENT WITH METRO NASHVILLE BOARD OF EDUCATION TO ESTABLISH, PROVIDE EQUIPMENT, FURNISHINGS, EDUCATIONAL TRAINING, AND OPERATIONAL SUPPORT FOR THE ANTIOCH HIGH...

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TEN CREDIT UNION ENTERED INTO A COMMITMENT WITH METRO NASHVILLE BOARD OF EDUCATION TO ESTABLISH, PROVIDE EQUIPMENT, FURNISHINGS, EDUCATIONAL TRAINING, AND OPERATIONAL SUPPORT FOR THE ANTIOCH HIGH SCHOOL'S "TEN CREDIT UNION ACADEMY OF BUSINESS AND FINANCE." ADDITIONALLY, TEN CREDIT UNION PROVIDES PAID SUMMER INTERNSHIPS TO WORTHY STUDENTS, TRAINING THEM IN OPERATING A LIMITED-SERVICE CREDIT UNION AT THE SCHOOL. TEN CREDIT UNION IS THE SOLE FINANCIAL SPONSOR FOR THE STUDENTS, TRAINING THEM IN OPERATING A LIMITED-SERVICE CREDIT UNION AT THE SCHOOL. DURING 2024, THE CREDIT UNION PROVIDED $52,798 IN RESOURCES SUCH AS INTERNSHIPS, TRAINING, AND EQUIPMENT FOR THE PROGRAM.

Program 3

TEN CREDIT UNION DONATED TO ELEVEN DIFFERENT ORGANIZATIONS IN 2024 THAT TOTALED TO $16,900.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $16,641,933
Investment Income $6,244,791
Other Revenue $0
TOTAL REVENUE $22,886,724

Expense Breakdown

Grants Paid $69,698
Salaries & Benefits $7,867,776
Fundraising Expenses $0
Other Expenses $13,914,035
TOTAL EXPENSES $21,851,509

Year-over-Year Comparison

2024 2023 Change
Revenue $22,886,724 $19,477,558 +0.2%
Expenses $21,851,509 $19,244,298 +0.1%
Net Income $1,035,215 $233,260 +3.4%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
7
Independent Members
7
Employees
137
Volunteers
9

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
$724,583
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CHRIS HENSON CHAIRPERSON 3.00
Director
$0 $0 $0
CHRISTINA ADKISON VICE CHAIRPERSON 3.00
Director
$0 $0 $0
DOROTHY GUNN SECRETARY 3.00
Director
$0 $0 $0
ROBERT NELSON TREASURER 3.00
Director
$0 $0 $0
SCOTT MELTZER DIRECTOR 3.00
Director
$0 $0 $0
ROBERT CHURCHWELL DIRECTOR 3.00
Director
$0 $0 $0
NEAL SMITH DIRECTOR 3.00
Director
$0 $0 $0
ALICIA FRIERSON SUPERVISORY COMMITTEE 2.00
Director
$0 $0 $0
ADAM SALVADOR SUPERVISORY COMMITTEE 2.00
Director
$0 $0 $0
RAFAEL RONDON CEO 45.00
Officer
$367,992 $45,468 $413,460
ANDRES LLANOS CFO 45.00
Officer
$273,729 $37,394 $311,123
MICHAEL ROUSSEL CTMO 45.00
Highest
$177,500 $20,266 $197,766
MARIA EDWARDS COO 45.00
Highest
$156,058 $24,118 $180,176
THOMAS G'FELLERS CLO 45.00
Highest
$150,660 $34,389 $185,049
KUSSILLA KHEMRAJ CCO 45.00
Highest
$156,193 $4,732 $160,925
FLAVIS BURROUGHS VP REAL ESTATE LENDING 45.00
Highest
$162,336 $10,548 $172,884
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 $22,886,724 $21,851,509 $403,502,042 $1,035,215
2023 $19,477,558 $19,244,298 $430,778,750 $233,260
2022 $14,793,248 $15,212,498 $407,626,939 $-419,250
2021 $12,031,552 $12,127,904 $408,777,901 $-96,352
2020 $12,277,095 $13,224,045 $374,950,219 $-946,950
2019 $14,109,022 $12,706,215 $317,012,353 $1,402,807
2018 $13,693,012 $11,635,850 $314,996,959 $2,057,162
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