TEXELL 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

1948

Legal Domicile

Principal Officer

TONY HALE

Phone

2547731604

Tax Period

2023-01-01 to 2023-12-31

TEXELL CREDIT UNION, founded in 1948, is a mid-sized nonprofit that reported $51.3M in total revenue in fiscal year 2023. Revenue surged 25% from the prior year, signaling strong growth momentum. Expenses of $46.8M left a modest 9% surplus.

Mission

COOPERATIVE, MEMBER-OWNED PROVIDER OF FINANCIAL SERVICES FOR OUR MEMBERS.

Program Service Accomplishments

Program 1

PROVIDE CHECKING ACCOUNTS WITH VARYING FEATURES AND ASSOCIATED SERVICES TO OUR MEMBERS.

Program 2

PROVIDE CONSUMER LOANS OF ALL TYPES AND RELATED SERVICES TO OUR MEMBERS.

Program 3

PROVIDE SHARE SAVINGS ACCOUNTS WHICH PAY MONTHLY DIVIDENDS TO OUR 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 $49,339,221

Investment Income $1,986,023

Other Revenue $0

TOTAL REVENUE $51,325,244

Expense Breakdown

Grants Paid $0

Salaries & Benefits $15,195,147

Fundraising Expenses $0

Other Expenses $31,637,059

TOTAL EXPENSES $46,832,206

Year-over-Year Comparison

	2023	2022	Change
Revenue	$51,325,244	$40,918,617	+0.3%
Expenses	$46,832,206	$33,136,008	+0.4%
Net Income	$4,493,038	$7,782,609	-0.4%

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

290

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

$2,102,123

Total Directors

$12,410

Key Employees

$491,479

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAN BOWEN	BOD V. CHAIR	1.00	Director	$1,525	$0	$1,525
WILLIAM CORNELIUS	BOD MEMBER	1.00	Director	$1,525	$0	$1,525
KENNETH GABY	BOD CHAIR	1.00	Director	$1,600	$0	$1,600
CHRIS MOORE	BOD MEMBER	1.00	Director	$750	$0	$750
DANIEL MARESH	BOD SECRETARY/TREASURER	1.00	Director	$1,700	$0	$1,700
JOE PALMER	BOD MEMBER	1.00	Director	$1,700	$0	$1,700
SUE MCMILLIN	BOD MEMBER	1.00	Director	$1,910	$0	$1,910
MIKE PILKINGTON	BOD MEMBER	1.00	Director	$0	$0	$0
LYNN EATON	BOD MEMBER	1.00	Director	$1,700	$0	$1,700
TONY HALE	PRESIDENT/CEO	40.00	Officer	$583,257	$647,622	$1,230,879
AMY MERRIMAN	COO	40.00	Officer	$280,880	$44,302	$325,182
ANTHONY RODGERS	GENERAL COUNSEL	40.00	Officer	$257,223	$36,695	$293,918
DAVID BORDEN	CFO	40.00	Officer	$225,981	$26,163	$252,144
RICHARD SILVERS	VP TECHNOLOGY INNOVATION	40.00	Key Emp	$226,316	$45,427	$271,743
MARY ANN NICKOLAI	VP MARKETING	40.00	Key Emp	$191,993	$27,743	$219,736
CHANTEL BROOKS	VP LENDING	40.00	Highest	$161,570	$16,833	$178,403
AMBER SPEER	VP MORTGAGE	40.00	Highest	$151,837	$16,409	$168,246
GALEN BURKE	VP COMMERCIAL SERVICES	40.00	Highest	$155,009	$30,601	$185,610
MICHAEL GONZALEZ	LENDING CONSULTANT	40.00	Highest	$173,092	$29,443	$202,535
NERI NAVARRO	DIRECTOR OF RETAIL	40.00	Highest	$135,586	$31,748	$167,334

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	No data	No data	No data	No data
2023	$51,325,244	$46,832,206	$690,228,948	$4,493,038
2022	$40,918,617	$33,136,008	$628,710,729	$7,782,609
2021	$32,645,542	$25,578,034	$562,565,721	$7,067,508
2020	$30,180,870	$25,851,228	$471,610,622	$4,329,642
2018	$26,531,057	$22,604,269	$355,023,199	$3,926,788