LANDMARK 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

1928

Legal Domicile

Principal Officer

DOW HILL

Phone

2057839100

Tax Period

2020-01-01 to 2020-12-31

LANDMARK CREDIT UNION, founded in 1928, is a community nonprofit that reported $2.1M in total revenue in fiscal year 2020. Revenue decreased 10% compared to the prior year. Expenses of $3.2M exceeded revenue, resulting in a 54% operating deficit.

Mission

LANDMARK CREDIT UNION IS AN ALABAMA STATE-CHARTERED CREDIT UNION ESTABLISHED FOR THE TWOFOLD PURPOSE OF PROMOTING THRIFT AMONG ITS MEMBERS AND CREATING A SOURCE OF CREDIT FOR THEM AT LEGITIMATE RATES OF INTEREST. LANDMARK SERVES MEMBERS WHO RESIDE, WORK, ATTEND SCHOOL, OR WORSHIP IN ANY AREA WEST OF I-65, SAINT CLAIR COUNTY, CITY OF LINCOLN, AND CITY OF TALLADEGA. THE CREDIT UNION PROVIDES SERVICES TO APPROXIMATELY 3,800 MEMBERS.

Program Service Accomplishments

Program 1

IN EFFORTS TO PROMOTE THRIFT AMONG OUR MEMBERS, LANDMARK PROVIDES COMPETITIVE SAVINGS PRODUCTS, WHICH INCLUDE SAVINGS, CHECKING, AND CERTIFICATE OF DEPOSIT ACCOUNTS AS WELL AS IRA SAVINGS ACCOUNTS.

Program 2

TO MEET THE FINANCIAL NEEDS OF OUR MEMBERS, LANDMARK PROVIDES A SOURCE OF CREDIT BY OFFERING A VARIETY OF CONSUMER, REAL ESTATE, AND BUSINESS LENDING PRODUCTS AT REASONABLE RATES OF INTEREST.

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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 $0

Program Service Revenue $1,926,928

Investment Income $156,832

Other Revenue $-827

TOTAL REVENUE $2,082,933

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,213,327

Fundraising Expenses $0

Other Expenses $1,988,631

TOTAL EXPENSES $3,201,958

Year-over-Year Comparison

	2020	2019	Change
Revenue	$2,082,933	$2,308,285	-0.1%
Expenses	$3,201,958	$2,531,369	+0.3%
Net Income	$-1,119,025	$-223,084	+4.0%

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

N/A

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

$447,329

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CARL KANTOR	SECRETARY	0.50	Officer Director	$0	$0	$0
HAL FERRELL	DIRECTOR	0.50	Director	$0	$0	$0
HENRY PIASKY	CHAIRMAN	0.50	Officer Director	$0	$0	$0
TIM BAILEY	DIRECTOR	0.50	Director	$0	$0	$0
GREGORY CRABB	DIRECTOR	0.50	Director	$0	$0	$0
DOW HILL	PRESIDENT/CEO	50.00	Officer	$153,243	$99,876	$253,119
DEB RACKARD	COO	50.00	Officer	$95,684	$6,903	$102,587
RON CHATHAM	VP LENDING	50.00	Officer	$77,818	$13,805	$91,623

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	$2,082,933	$3,201,958	No data	$-1,119,025
2019	$2,308,285	$2,531,369	$39,566,897	$-223,084
2018	$2,337,730	$2,356,331	$39,537,076	$-18,601