SWEETEX CREDIT UNION

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1952

Legal Domicile

Principal Officer

LAWANDA DRENNAN

Phone

9037531150

Tax Period

2023-01-01 to 2023-12-31

SWEETEX CREDIT UNION, founded in 1952, is a small nonprofit that reported $292K in total revenue in fiscal year 2023. Net assets of $3.5M represent 145 months of operating reserves.

Mission

SWEETEX CREDIT UNION OFFERS SAVINGS AND LOANS TO A SINGLE EMPLOYEE GROUP AND THEIR FAMILIES AT ECONOMICAL RATES AND ENCOURAGES THE FINANCIAL HEALTH OF OUR MEMBER-OWNERS

Program Service Accomplishments

Program 1

MEMBER SHARE/SAVINGS ACCOUNTS-SWEETEX CREDIT UNION'S SHARE/SAVINGS ACCOUNTS OFFER ADVANTAGES TO MEMBERS OF ALL AGES. THE CREDIT UNION HAD MORE THAN 1000 MEMBER OWNED ACCOUNTS ON DECEMBER 31, 2012...

MEMBER SHARE/SAVINGS ACCOUNTS-SWEETEX CREDIT UNION'S SHARE/SAVINGS ACCOUNTS OFFER ADVANTAGES TO MEMBERS OF ALL AGES. THE CREDIT UNION HAD MORE THAN 1000 MEMBER OWNED ACCOUNTS ON DECEMBER 31, 2012. MEMBER ACCOUNTS ARE PAID DIVIDENDS MONTHLY WITH AVAILABILITY OF DIRECT DEPOSIT AND ACH FOR TRANSACTIONS. THE CREDIT UNION ENCOURAGES THE DEVELOPMENT OF SAVING HABITS.

Program 2

CONSUMER LOANS-SWEETEX CREDIT UNION HAS PROVIDED VEHICLE AND OTHER SECURED LOANS SINCE ITS BEGINNING IN 1952. THE CONSUMER LOAN PRODUCT LINE NOW INCLUDES EFFICIENT UNDERWRITING AND FLEXIBLE OFFERINGS FOR RV'S, BOATS, MOTORCYCLES, NEW AND USED AUTOS, AND UNSECURED LOANS. CONSUMER CREDIT LIFE AND DISABILITY INSURANCE AND GUARANTEED AUTO BALANCE PROTECTION COVERAGE ARE AVAILABLE AT GROUP RATES JUST FOR OUR MEMBER BORROWERS.

Program 3

HOME LOANS-SWEETEX CREDIT UNION HAS BEEN OFFERING HOME LOANS FOR OVER 20 YEARS AT COMPETITIVE RATES TO ITS MEMBERSHIP AND BEGAN OFFERING HOME EQUITY LOANS IN RECENT YEARS. THE CREDIT UNION CURRENTLY BOOKS THESE LOANS IN-HOUSE TO MATURITY. SWEETEX IS VERY CONSERVATIVE IN IT'S MORTGAGE LENDING, ONLY FINANCING 80%OR LESS LOAN TO VALUE FOR 20 OR LESS YEARS.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $168,217

Investment Income $123,502

Other Revenue $0

TOTAL REVENUE $291,719

Expense Breakdown

Grants Paid $0

Salaries & Benefits $176,840

Fundraising Expenses $0

Program Expenses $0

Other Expenses $113,735

TOTAL EXPENSES $290,575

Year-over-Year Comparison

	2023	2022	Change
Revenue	$291,719	$274,097	+0.1%
Expenses	$290,575	$261,928	+0.1%
Net Income	$1,144	$12,169	-0.9%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

$99,867

Total Directors

Key Employees