MEMPHIS CITY EMPLOYEES CREDIT UNION (EIN 620630690) - 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

1969

Legal Domicile

Principal Officer

NATHAN STEVENS

Phone

9013211200

Tax Period

2024-01-01 to 2024-12-31

MEMPHIS CITY EMPLOYEES CREDIT UNION, founded in 1969, is a mid-sized nonprofit that reported $29.0M in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $27.2M left a modest 6% surplus.

Mission

STATE CHARTERED CREDIT UNION CREATED TO PROVIDE THE HIGHEST QUALITY OF PERSONAL FINANCIAL SERVICES IN A FRIENDLY, PROFESSIONAL MANNER; TO ENCOURAGE SAVINGS AND THE WISE USE OF CREDIT; TO INCREASE THE KNOWLEDGE AND ABILITY OF OUR MEMBERS TO MANAGE AND CONTROL THEIR FINANCES.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $25,735,014

Investment Income $3,258,076

Other Revenue $0

TOTAL REVENUE $28,993,090

Expense Breakdown

Grants Paid $0

Salaries & Benefits $9,654,925

Fundraising Expenses $0

Other Expenses $17,533,980

TOTAL EXPENSES $27,188,905

Year-over-Year Comparison

	2024	2023	Change
Revenue	$28,993,090	$26,086,110	+0.1%
Expenses	$27,188,905	$24,006,804	+0.1%
Net Income	$1,804,185	$2,079,306	-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

119

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

$1,374,460

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HETTIEANN SPENDLOVE	CHAIRMAN	1.00	Director	$0	$0	$0
DELPHONE HUBBARD	FIRST VICE CHAIR	1.00	Director	$0	$0	$0
JORGE WHITTEN ORTEGA	SECOND VICE CHAIR	1.00	Director	$0	$0	$0
DARRYL PORTER	TREASURER	1.00	Director	$0	$0	$0
J HARVEY HERRING	SECRETARY	1.00	Director	$0	$0	$0
TERRI BROWN	DIRECTOR	1.00	Director	$0	$0	$0
WANDA J CORCORAN	DIRECTOR	1.00	Director	$0	$0	$0
JAMES VAN STURDIVANT	DIRECTOR	1.00	Director	$0	$0	$0
KENNETH SWANN	PRESIDENT/CEO	40.00	Officer	$707,237	$7,025	$714,262
ALLEN PETERSON	CHIEF OPERATING OFFICER	40.00	Officer	$343,444	$7,100	$350,544
NATHAN STEVENS	CHIEF FINANCIAL OFFICER	40.00	Officer	$302,226	$7,428	$309,654
THOMAS MOATES	CHIEF INFORMATION OFFICER	40.00	Highest	$245,811	$5,287	$251,098
LETISHA SIMMONS	CHIEF RISK OFFICER	40.00	Highest	$206,707	$3,391	$210,098
DONNA BROWN	CHIEF LENDING OFFICER	40.00	Highest	$174,471	$3,438	$177,909
RALPH GABB	CONTROLLER	40.00	Highest	$137,345	$4,151	$141,496
AUDREY PINNER	VP OF MORTGAGE	40.00	Highest	$130,064	$1,365	$131,429

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	$28,993,090	$27,188,905	$455,354,464	$1,804,185
2023	$26,086,110	$24,006,804	$443,259,152	$2,079,306
2022	$23,689,199	$20,820,305	$442,390,600	$2,868,894
2021	$21,190,840	$18,182,571	$441,662,639	$3,008,269
2020	$20,584,059	$19,043,612	$399,234,146	$1,540,447
2019	$20,247,496	$17,392,892	$333,261,695	$2,854,604
2018	$16,926,900	$14,278,131	$301,196,525	$2,648,769

MEMPHIS CITY EMPLOYEES CREDIT UNION