FREESTONE 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

DEANNE HARRIS

Phone

2547392594

Tax Period

2024-01-01 to 2024-12-31

FREESTONE CREDIT UNION, founded in 1952, is a community nonprofit that reported $3.5M in total revenue in fiscal year 2024. Revenue surged 32% from the prior year, signaling strong growth momentum. The organization ran a surplus of $796K, a strong 23% operating margin.

Mission

OUR MISSION IS TO PROVIDE QUALITY FINANCIAL SERVICES TO OUR MEMBERS AT COMPETITIVE RATES.

Program Service Accomplishments

Program 1

FREESTONE CREDIT UNION OFFERS ALL TYPES OF LOAN PRODUCTS AT COMPETITIVE RATES

Program 2

FREESTONE CREDIT UNION OFFERS ALL TYPES OF SAVINGS PRODUCTS AT COMPETITIVE RATES

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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 $0

Program Service Revenue $2,524,870

Investment Income $902,789

Other Revenue $35,334

TOTAL REVENUE $3,462,993

Expense Breakdown

Grants Paid $0

Salaries & Benefits $816,715

Fundraising Expenses $0

Other Expenses $1,849,823

TOTAL EXPENSES $2,666,538

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,462,993	$2,621,942	+0.3%
Expenses	$2,666,538	$2,065,838	+0.3%
Net Income	$796,455	$556,104	+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

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

Key Employees

$123,237

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARY LEE	BOARD CHAIR	0.50	Officer Director	$0	$0	$0
COURTNEY HODGE	VICE CHAIR	0.50	Officer Director	$0	$0	$0
JESSICA RISKEN	SECRETARY	0.50	Officer Director	$0	$0	$0
KENNETH ALLEN	TREASURER	0.50	Officer Director	$0	$0	$0
MICHAEL GRIFFIN	MEMBER	0.50	Director	$0	$0	$0
LUIS GUERRERO	MEMBER	0.50	Director	$0	$0	$0
JOEY BURKS	MEMBER	0.50	Director	$0	$0	$0
DEANNE HARRIS	MANAGER/CEO	40.00	Key Emp Highest	$123,237	$0	$123,237

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	$3,462,993	$2,666,538	$66,441,191	$796,455
2023	$2,621,942	$2,065,838	$58,055,521	$556,104
2022	$2,262,020	$1,700,488	$54,162,849	$561,532
2021	$2,070,107	$1,707,508	$52,297,693	$362,599
2020	$1,942,617	$1,669,338	$45,085,109	$273,279
2019	$2,009,347	$1,713,353	$43,508,032	$295,994
2018	$1,877,759	$1,623,742	$40,575,938	$254,017