MCT 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

1953

Legal Domicile

Principal Officer

DR GEORGE SCOTT

Phone

4097271446

Tax Period

2023-01-01 to 2023-12-31

MCT CREDIT UNION, founded in 1953, is a mid-sized nonprofit that reported $20.3M in total revenue in fiscal year 2023. Revenue grew 15% year-over-year, indicating healthy expansion. Expenses of $19.3M left a modest 5% surplus.

Mission

TO PROVIDE FINANCIAL SERVICES, LOAN, AND DEPOSIT PRODUCTS THAT WILL MEET NEEDS AND EXPECTATIONS OF THE FIELD OF MEMBERSHIP AND PROVIDE A FAIR AND EQUITABLE RETURN TO THE CREDIT UNION. TO GROW THE FIELD OF MEMBERSHIP BY AGGRESSIVELY PURSUING ALL PERSONS IN NEED OF FINANCIAL PRODUCTS AND SERVICES BY CONTINUALLY ENHANCING PRODUCTS TO BETTER SERVE THE FIELD OF MEMBERSHIP.

Program Service Accomplishments

Program 1

THE CREDIT UNION HAD 2,003 NEW MEMBERS JOIN IN 2023. THE CREDIT UNION OPENED 7,447 DEPOSIT ACCOUNTS IN 2023. THE CREDIT UNION OFFERS A VARIETY OF DEPOSIT ACCOUNT OPTIONS INCLUDING SHARE ACCOUNTS...

THE CREDIT UNION HAD 2,003 NEW MEMBERS JOIN IN 2023. THE CREDIT UNION OPENED 7,447 DEPOSIT ACCOUNTS IN 2023. THE CREDIT UNION OFFERS A VARIETY OF DEPOSIT ACCOUNT OPTIONS INCLUDING SHARE ACCOUNTS, SHARE DRAFT ACCOUNTS, MONEY MARKET ACCOUNTS, INDIVIDUAL RETIREMENT ACCOUNTS (IRA'S), AND CERTIFICATE OF DEPOSIT ACCOUNTS WITH VERY COMPETITIVE INTEREST RATES. THE CREDIT UNION HAS FIVE BRANCH LOCATIONS AS WELL AS A SHARED BRANCH PROGRAM, A 24 HOUR CALL CENTER, ONLINE BANKING AND BILL PAY OFFERED AT NO CHARGE TO THE MEMBERSHIP.

Program 2

THE CREDIT UNION OFFERS CONSUMER LOANS, MORTGAGE LOANS, AND BUSINESS LOANS TO MEMBERSHIP. THE CREDIT UNION GRANTED 2,534 LOANS FOR $99,065,533 TO ITS MEMBERSHIP IN 2023.

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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 $16,676,693

Investment Income $2,998,669

Other Revenue $632,212

TOTAL REVENUE $20,307,574

Expense Breakdown

Grants Paid $0

Salaries & Benefits $7,845,809

Fundraising Expenses $0

Other Expenses $9,221,240

TOTAL EXPENSES $19,301,045

Year-over-Year Comparison

	2023	2022	Change
Revenue	$20,307,574	$17,733,954	+0.1%
Expenses	$19,301,045	$16,167,383	+0.2%
Net Income	$1,006,529	$1,566,571	-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

109

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

$1,283,935

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR GEORGE SCOTT	BOARD CHAIRMAN	1.00	Officer Director	$0	$0	$0
TRENT DEVENZIO	VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
REBECCA DEMETER	BOARD SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
RANDY BROWN	DIRECTOR	1.00	Director	$0	$0	$0
RANDY CHANCE	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL LAIRD	DIRECTOR	1.00	Director	$0	$0	$0
JAMES MYERS JR	DIRECTOR	1.00	Director	$0	$0	$0
DEBORAH NORRIS	DIRECTOR	1.00	Director	$0	$0	$0
KIMBERLY PITTS	DIRECTOR	1.00	Director	$0	$0	$0
THADDEUS ANGELLE	PRESIDENT/CEO	50.00	Officer	$354,939	$253,397	$608,336
KAREN FREDERICK	COO	50.00	Officer	$190,435	$188,282	$378,717
CHAD POWELL	EVP/CFO	50.00	Officer	$217,899	$78,983	$296,882
DEBRA CREW	VP REAL ESTATE	50.00	Highest	$126,974	$61,081	$188,055
MICHAEL FRAZIER	VP IT	50.00	Highest	$116,545	$64,138	$180,683
BRANDY COLUNGA	VICE PRESIDENT HUMAN RESOU	50.00	Highest	$126,128	$32,863	$158,991
KEITH DOUCET	VP OF BUSINESS LENDING	40.00	Highest	$112,872	$29,113	$141,985
KRISTEN LABARERA	CONTROLLER	50.00	Highest	$117,163	$19,077	$136,240

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	$20,307,574	$19,301,045	$355,729,593	$1,006,529
2022	$17,733,954	$16,167,383	$355,819,917	$1,566,571
2021	$15,984,837	$14,634,518	$363,107,409	$1,350,319
2020	$15,531,663	$14,415,621	$357,012,507	$1,116,042
2019	$16,421,061	$14,070,079	$299,976,930	$2,350,982
2018	$16,112,684	$14,161,193	$295,924,955	$1,951,491