TUSCALOOSA COUNTY 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

1959

Legal Domicile

Principal Officer

STEVE SWOFFORD

Phone

2053445100

Tax Period

2023-01-01 to 2023-12-31

TUSCALOOSA COUNTY CREDIT UNION, founded in 1959, is a small nonprofit that reported $711K in total revenue in fiscal year 2023. Expenses of $957K exceeded revenue, resulting in a 35% operating deficit.

Mission

COOPERATIVE SOCIETY INCORPORATED FOR THE TWOFOLD PURPOSE OF PROMOTING THRIFT AMONG ITS MEMBERS AND CREATING A SOURCE OF CREDIT FOR THEM AT LEGITIMATE RATES OF INTEREST.

Program Service Accomplishments

Program 1

ALABAMA BANKING CODE, SECTION 5-17-1, STATES THAT A CREDIT UNION IS A COOPERATIVE SOCIETY INCORPORATED FOR THE TWOFOLD PURPOSE OF PROMOTING THRIFT AMONG ITS MEMBERS AND CREATING A SOURCE OF CREDIT...

ALABAMA BANKING CODE, SECTION 5-17-1, STATES THAT A CREDIT UNION IS A COOPERATIVE SOCIETY INCORPORATED FOR THE TWOFOLD PURPOSE OF PROMOTING THRIFT AMONG ITS MEMBERS AND CREATING A SOURCE OF CREDIT FOR THEM AT LEGITIMATE RATES OF INTEREST. TUSCALOOSA COUNTY CREDIT UNION, AN ALABAMA STATE CHARTERED CREDIT UNION, PROVIDES THESE SERVICES TO ITS MEMBERS WHO ARE PRIMARILY RESIDENTS OF TUSCALOOSA COUNTY, ALABAMA. AS OF DECEMBER 31, 2023, THE CREDIT UNION HAD APPROXIMATELY 1,428 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 $711,228

Investment Income $0

Other Revenue $0

TOTAL REVENUE $711,228

Expense Breakdown

Grants Paid $0

Salaries & Benefits $342,845

Fundraising Expenses $0

Other Expenses $614,025

TOTAL EXPENSES $956,870

Year-over-Year Comparison

	2023	2022	Change
Revenue	$711,228	$667,897	+0.1%
Expenses	$956,870	$731,438	+0.3%
Net Income	$-245,642	$-63,541	+2.9%

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

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

$217,888

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN D MEDDERS	DIRECTOR/VICE CHAIRPERSON	1.00	Director	$0	$0	$0
JANE CHANNELL	DIRECTOR/CHAIRPERSON	1.00	Director	$0	$0	$0
STEVEN SHELTON	DIRECTOR	1.00	Director	$0	$0	$0
SUE BRACKNELL	DIRECTOR/TREASURER	1.00	Director	$0	$0	$0
ANTONIO BOSTIC	SUPERVISORY COMMITTEE MEMB	1.00	Director	$0	$0	$0
BEN TINGLE	SUPERVISORY COMMITTEE MEMB	1.00	Director	$0	$0	$0
KRIS CONNELL	DIRECTOR	1.00	Director	$0	$0	$0
KATHARINE GURGANUS	SUPERVISORY COMMITTEE MEMB	1.00	Director	$0	$0	$0
PATSY MOZINGO	MANAGER/CEO (RET. SEPT 2023)	40.00	Officer	$137,070	$7,502	$144,572
TIFFANY WASHINGTON	ASSISTANT MANAGER	40.00	Officer	$63,150	$10,166	$73,316

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
2023	$711,228	$956,870	No data	$-245,642
2022	$667,897	$731,438	$12,299,821	$-63,541
2021	$667,879	$636,988	$11,333,096	$30,891
2020	$681,287	$736,133	$11,479,525	$-54,846
2019	$648,770	$821,878	$10,732,974	$-173,108
2018	$631,916	$568,846	$9,567,903	$63,070