TELCO PLUS 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

1951

Legal Domicile

Principal Officer

Randall Pearson

Phone

9037535588

Tax Period

2020-01-01 to 2020-12-31

TELCO PLUS CREDIT UNION, founded in 1951, is a community nonprofit in the Public & Societal Benefit sector that reported $3.7M in total revenue in fiscal year 2020. The organization ran a surplus of $1.1M, a strong 29% operating margin.

Mission

Not-for-profit cooperative provider of financial services to credit union members/owners.

Program Service Accomplishments

Program 1

Share Accounts: Telco Plus Credit Union offers a variety of share accounts, including savings, CD's, TUTMA, IRA's, special savings, member money fund savings, Christmas and vacation club accounts...

Share Accounts: Telco Plus Credit Union offers a variety of share accounts, including savings, CD's, TUTMA, IRA's, special savings, member money fund savings, Christmas and vacation club accounts. Telco Plus Credit Union maintained and paid dividends on over 14,503 accounts in 2019. The credit union provides all members with access via ATM's, Online Banking, Text & Mobile Banking, Audio Response, and in-person financial service representatives. Free financial education fairs are offered to local schools. Our accounts are offered free online access to educational games and activities geared to various age groups. Telco Plus supplies and supports 2 ATMs for member usage. Shares are insured through NCUSIF.

Program 2

Checking accounts: As of December Telco Plus Credit Union maintained over 3,376 active checking accounts. Many accounts earn dividends and most do not require a monthly service charge. Members with checking accounts are offered ATM and Debit card access to their funds. Members over age 60 receive free printed checks, no fee cashier checks and no monthly service charge. Full-time student checking accounts have no monthly service charge and receive a free box of checks. Rewards Checking accounts offer a higher than CD dividend rate, no monthly service charge, ATM fee refunds, ID theft program and free credit report monitoring service.

Program 3

Consumer Loans: All loans are made to individual consumers. Loans offered include: autos, boats, motorcycles, recreational vehicles, personal loans, furniture, line of credit, credit card, home...

Consumer Loans: All loans are made to individual consumers. Loans offered include: autos, boats, motorcycles, recreational vehicles, personal loans, furniture, line of credit, credit card, home equity and home mortgage loans. A variety of loan protection products are offered, which include: credit life, credit disability, guaranteed asset protection and mechanical breakdown at rates far less than most dealers. As of December 31, 2019 Telco Plus Credit Union maintained 3,143 loans to 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 (2020)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $3,023,434

Investment Income $162,273

Other Revenue $478,827

TOTAL REVENUE $3,664,534

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,176,979

Fundraising Expenses $0

Program Expenses $0

Other Expenses $1,409,941

TOTAL EXPENSES $2,586,920

Year-over-Year Comparison

	2020	2019	Change
Revenue	$3,664,534	$3,595,895	+0.0%
Expenses	$2,586,920	$2,745,311	-0.1%
Net Income	$1,077,614	$850,584	+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

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

$3,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Board Member 3	Treasurer	2	Director	$3,000	$0	$3,000
Board Member 2	Vice Chairman	2	Officer	$0	$0	$0
Board Member 4	Secretary	2	Officer	$0	$0	$0
Board Member 6	Director	1	Officer	$0	$0	$0
Board Member 7	Director	2	Officer	$0	$0	$0
Board Member 5	Director	1	Officer	$0	$0	$0
Board Member 1	Chairman	1	Officer	$0	$0	$0
Board Member 8	Director	1	Officer	$0	$0	$0
Board member 9	Director	1	Officer	$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
2020	$3,664,534	$2,586,920	$73,610,522	$1,077,614
2019	$3,595,895	$2,745,311	$61,865,751	$850,584
2018	$2,970,424	$2,533,581	$60,813,135	$436,843