LIFE 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

1958

Legal Domicile

Principal Officer

PAM NOLEN

Phone

6152305433

Tax Period

2020-01-01 to 2020-12-31

LIFE CREDIT UNION, founded in 1958, is a community nonprofit that reported $2.2M in total revenue in fiscal year 2020. Revenue decreased 14% compared to the prior year.

Mission

PROVIDE QUALITY, PERSONAL SERVICE THAT MEETS OR EXCEEDS MEMBER NEEDS. OUR GOAL IS TO DEVELOP AND PROMOTE COMPETITIVELY-PRICED FINANCIAL SERVICES AND DELIVER THOSE SERVICES IN A PROFESSIONAL, CONVENIENT, EFFICIENT AND COST EFFECTIVE MANNER.

Program Service Accomplishments

Program 1

PROVIDING FINANCIAL SERVICES FOR APPROXIMATELY 4000 MEMBERS INCLUDING SAVINGS, CHECKING, LOANS, CONSUMER RESEARCH AND FINANCIAL COUNSELING

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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 (2020)

Revenue Breakdown

Contributions & Grants $626,456

Program Service Revenue $1,491,269

Investment Income $41,797

Other Revenue $24,573

TOTAL REVENUE $2,184,095

Expense Breakdown

Grants Paid $0

Salaries & Benefits $962,358

Fundraising Expenses $0

Other Expenses $1,431,115

TOTAL EXPENSES $2,393,473

Year-over-Year Comparison

	2020	2019	Change
Revenue	$2,184,095	$2,552,637	-0.1%
Expenses	$2,393,473	$2,446,029	0.0%
Net Income	$-209,378	$106,608	-3.0%

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

3962

Independent Members

3962

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

$170,339

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BUBBA MCINTOSH	CHAIR PERSON	1.00	Director	$0	$0	$0
ALEX WHITLEY	TREASURER	1.00	Director	$0	$0	$0
JIM DREW	SECRETARY	1.00	Director	$0	$0	$0
JENNIFER CAUSEY	BOARD MEMBER	1.00	Director	$0	$0	$0
ROBERT FITTERS	BOARD MEMBER	1.00	Director	$0	$0	$0
JUSTIN LAWSON	BOARD MEMBER	1.00	Director	$0	$0	$0
ROBIN BAGGETT	BOARD MEMBER	1.00	Director	$0	$0	$0
PAM NOLEN	PRESIDENT/CEO	40.00	Officer	$170,339	$0	$170,339

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
2020	$2,184,095	$2,393,473	$41,044,841	$-209,378
2019	$2,552,637	$2,446,029	$34,355,140	$106,608
2018	$2,561,707	$2,607,602	$34,081,458	$-45,895