UNITED 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

1932

Legal Domicile

Tax Period

2023-01-01 to 2023-12-31

UNITED CREDIT UNION, founded in 1932, is a community nonprofit that reported $1.5M in total revenue in fiscal year 2023. Expenses of $1.5M left a modest 4% surplus.

Mission

COOPERATIVE, MEMBERSHIP OWNED, NON-PROFIT PROVIDER OF FULL FINANCIAL SERVICES TO MEMBERS

Program Service Accomplishments

Program 1

Expenses: $1,012,246 Revenue: $233,166

ACCOUNTS: CERTIFICATE TERM SHARE ACCOUNTS: TERM SHARE CERTIFICATES ARE SAVINGS ACCOUNTS THAT ARE PLACED ON DEPOSIT FOR SPECIFIC PERIODS OF TIME. THEY HAVE A HIGHER EARNING RATE FOR MEMBERS DUE TO THE REQUIRED TIME FRAME TO REMAIN ON DEPOSIT. REMOVAL BEFORE MATURITY RESULTS IN A PENALTY. TERM SHARE CERTIFICATES ARE THE LARGEST ACCOUNT EXPENSE SAVINGS AND CHECKING.

Program 2

Expenses: $216,032 Revenue: $1,088,479

LOANS: RESIDENTIAL MORTGAGE, VEHICLE, PERSONAL AND CREDIT CARD LOANS ARE ALL OFFERED. RELATED SERVICES SUCH AS CREDIT LIFE, CREDIT DISABILITY, DENT GUARD, MECHANICAL REPAIR COVERAGE, AND GAP ARE ALL...

Program 3

Expenses: $143,822 Revenue: $10,225

TECHNOLOGY SERVICES: TECHNOLOGY IN TODAYS AGE IS ALWAYS CHANGING AND GROWING EACH YEAR. THIS CAUSES THE EXPENSE TO BE QUITE LARGE IN ORDER TO STAY CURRENT WITH TODAYS WANTS AND NEEDS FOR MEMBERS. THE TECHNOLOGY SERVICES INCLUDE ONLINE BANKING, ONLINE LOAN APPLICATIONS, ONLINE SECURED DOCUSIGN, ONLINE MOBILE DEPOSIT, BILL PAY AND ESTATEMENT. THE TECHNOLOGY ALSO MUST BE UPDATED AND UPGRADED TO ENSURE THAT THEY ARE SECURE AND WORKING PROPERLY.

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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 $4,403

Program Service Revenue $1,331,870

Investment Income $145,092

Other Revenue $26,884

TOTAL REVENUE $1,508,249

Expense Breakdown

Grants Paid $0

Salaries & Benefits $354,932

Fundraising Expenses $0

Program Expenses $1,453,406

Other Expenses $810,679

TOTAL EXPENSES $1,453,406

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,508,249	$1,414,983	+0.1%
Expenses	$1,453,406	$1,338,372	+0.1%
Net Income	$54,843	$76,611	-0.3%

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

$161,199

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SHERRI MCELYEA	PRESIDENT	44.00	Officer	$95,116	$0	$95,116
CAMERON ANDERSON	VICE PRESIDENT	41.00	Officer	$66,083	$0	$66,083
NARS BUENAVENTURA	CREDIT COMMITTEE	0.50	Director	$0	$0	$0
DJUANNA MORGAN	CREDIT COMMITTEE	0.50	Director	$0	$0	$0
GEORGE CREEL	VICE CHAIRMAN	0.50	Director	$0	$0	$0
COURTNEY KLEPFER	CHAIRMAN	0.50	Director	$0	$0	$0
DAVID ADAMS	CHAIRMAN	0.50	Officer Director	$0	$0	$0
NANCY PARKER	CREDIT COMMITTEE	0.50	Officer Director	$0	$0	$0
LORA SAVOIE	SEC-TREAS	0.50	Officer 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	$1,508,249	$1,453,406	$29,623,151	$54,843
2022	$1,414,983	$1,338,372	$30,228,000	$76,611
2021	$1,252,376	$1,389,807	$28,060,069	$-137,431
2020	$1,331,138	$1,233,778	$26,693,750	$97,360
2019	$1,474,772	$1,204,643	$25,201,602	$270,129
2018	$1,483,456	$1,891,841	$26,200,834	$-408,385