PRIORITY TRUST 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

1929

Legal Domicile

Principal Officer

Malcolm Renee

Phone

7139706273

Tax Period

2024-01-01 to 2024-12-31

PRIORITY TRUST CREDIT UNION, founded in 1929, is a mid-sized nonprofit that reported $16.1M in total revenue in fiscal year 2024. Revenue grew 17% year-over-year, indicating healthy expansion. Expenses of $15.2M left a modest 6% surplus.

Mission

To provide banking and loan services to members in order to invest in people and improve lives.

Program Service Accomplishments

Program 1

Expenses: $807,511 Revenue: $245,701

Share Accounts: Share accounts are offered to members and pay monthly dividends. Access if offered through branch locations, internet, ATMs, and telephone. Special accounts designed for children and...

Program 2

Expenses: $2,060,152 Revenue: $2,098,253

Checking Accounts: Checking accounts are offered to members and generally pay monthly dividends. Access if offered through branch locations, internet, ATMs, and telephone. Free debit cards are...

Checking Accounts: Checking accounts are offered to members and generally pay monthly dividends. Access if offered through branch locations, internet, ATMs, and telephone. Free debit cards are offered and on-line and mobile banking features are provided.

Program 3

Expenses: $5,832,320 Revenue: $8,725,648

Consumer Loans: Consumer loans are offered to members for autos, recreational vehicles, home equity, credit card, and personal loans. Consumer life and disability insurance are available on any of...

Consumer Loans: Consumer loans are offered to members for autos, recreational vehicles, home equity, credit card, and personal loans. Consumer life and disability insurance are available on any of these products.

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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 $711,000

Program Service Revenue $12,960,053

Investment Income $2,464,714

Other Revenue $0

TOTAL REVENUE $16,135,767

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,752,433

Fundraising Expenses $0

Program Expenses $8,699,983

Other Expenses $9,443,073

TOTAL EXPENSES $15,195,506

Year-over-Year Comparison

	2024	2023	Change
Revenue	$16,135,767	$13,776,593	+0.2%
Expenses	$15,195,506	$13,380,210	+0.1%
Net Income	$940,261	$396,383	+1.4%

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

N/A

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

Total Directors

$77,000

Key Employees

$360,605

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Malcolm Rene	CEO	40.00	Key Emp	$220,000	$0	$220,000
Daniel Caldwell	CFO	40.00	Key Emp	$140,605	$0	$140,605
Wendell Greanleaf	Chairman	1.00	Director	$6,000	$0	$6,000
Ed Martindale	Vice-Chair	1.00	Director	$6,000	$0	$6,000
Roderick Newman	Secretary	1.00	Director	$5,000	$0	$5,000
Margaret Glass	Treasurer	1.00	Director	$6,000	$0	$6,000
Mary Watson	Parlimentarian	1.00	Director	$6,000	$0	$6,000
Charles Charleston	Secretary	1.00	Director	$6,000	$0	$6,000
John Glenn	Director	1.00	Director	$6,000	$0	$6,000
Edward Johnson	Director	1.00	Director	$6,000	$0	$6,000
Gayle Reed	Director	1.00	Director	$6,000	$0	$6,000
Chuck Richard	Director	1.00	Director	$6,000	$0	$6,000
Debra Pruitt	Director	1.00	Director	$6,000	$0	$6,000
Gina Goosby	Director	1.00	Director	$6,000	$0	$6,000
Vic Ayres	Director	1.00	Director	$6,000	$0	$6,000

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
2025	No data	No data	No data	No data
2024	$16,135,767	$15,195,506	$194,130,565	$940,261
2023	$13,776,593	$13,380,210	$189,539,846	$396,383
2022	$15,178,327	$14,702,092	$196,739,060	$476,235
2021	$9,356,644	$8,809,553	$132,777,176	$547,091
2019	$9,709,604	$8,983,194	$123,024,703	$726,410