PUBLIC EMPLOYEES 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

1952

Legal Domicile

Principal Officer

Gary Whitcomb

Phone

5124741955

Tax Period

2023-01-01 to 2023-12-31

PUBLIC EMPLOYEES CREDIT UNION, founded in 1952, is a mid-sized nonprofit that reported $16.2M in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion. The organization ran a surplus of $5.4M, a strong 33% operating margin.

Mission

Public Employees Credit Union is a cooperative financial institution whose mission is to provide quality financial services and products at the greatest value to our members in a professional and personal manner while maintaining financial strength and stability.

Program Service Accomplishments

Program 1

Public Employees Credit Union provides a wide range of secured and unsecured loans to its members for consumable items, such as autos, motorcycles, RVs, home equity loans, mortgages, credit cards...

Public Employees Credit Union provides a wide range of secured and unsecured loans to its members for consumable items, such as autos, motorcycles, RVs, home equity loans, mortgages, credit cards, signature loans and line-of-credit and share or certificate secured loans. Additionally, credit insurance is available on all these loans. GAP (Guaranteed Asset Protection) insurance is a product that is likewise offered on some of our secured loans.

Program 2

Public Employees credit union offers Money Market accounts to its members. These accounts pay a higher dividend than a typical savings or checking account as long as the monthly balance minimum...

Public Employees credit union offers Money Market accounts to its members. These accounts pay a higher dividend than a typical savings or checking account as long as the monthly balance minimum requirement is maintained. Interest is paid and compounded monthly.

Program 3

Public Employees Credit union offers Regular Share accounts to its members. Regular Share accounts are required for membership. These accounts receive a quarterly dividend as declared by the Board of...

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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 $12,380,434

Investment Income $3,845,250

Other Revenue $0

TOTAL REVENUE $16,225,684

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,964,553

Fundraising Expenses $0

Program Expenses $0

Other Expenses $5,830,253

TOTAL EXPENSES $10,794,806

Year-over-Year Comparison

	2023	2022	Change
Revenue	$16,225,684	$14,631,570	+0.1%
Expenses	$10,794,806	$9,114,827	+0.2%
Net Income	$5,430,878	$5,516,743	0.0%

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

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

$738,358

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Gary Whitcomb	President/CEO	40	Officer	$309,524	$59,370	$368,894
Marc Broddrick	SVP/CFO	40	Officer	$175,621	$28,872	$204,493
Merrily Porter	General Counsel	40	Highest	$142,387	$25,293	$167,680
Andrew Curtin	VP Information Technology	40	Officer	$140,341	$24,630	$164,971
Juan Facundo	Vice President - Lending	40	Highest	$130,160	$22,796	$152,956
Scott Murphy	Vice President - Marketing	40	Highest	$114,972	$21,815	$136,787
James Patterson	Vice President - Operations	40	Highest	$106,821	$20,057	$126,878
Claire McGuinnes	Chair	1	Officer Director	$0	$0	$0
Patrick Marotta	Vice Chair	1	Officer Director	$0	$0	$0
Tommy Gregg	Secretary	1	Officer Director	$0	$0	$0
LC Wadle	Treasurer	1	Officer Director	$0	$0	$0
Leonard Reese	Director	1	Director	$0	$0	$0
Jennifer Soldano	Director	1	Director	$0	$0	$0
Renee Mauzy	Director	1	Director	$0	$0	$0

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	$16,225,684	$10,794,806	$426,329,185	$5,430,878
2022	$14,631,570	$9,114,827	$452,083,209	$5,516,743
2021	$10,615,864	$8,115,232	$460,892,144	$2,500,632
2020	$11,481,100	$9,068,654	$398,847,948	$2,412,446
2019	$12,766,290	$9,623,729	$350,675,163	$3,142,561
2018	$12,164,817	$8,844,702	$339,009,237	$3,320,115