RELYON 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

NICOLLE KOVACS

Phone

2143573328

Tax Period

2024-01-01 to 2024-08-31

RELYON CREDIT UNION, founded in 1952, is a community nonprofit that reported $4.3M in total revenue in fiscal year 2024. Revenue fell 44% from the prior year — a significant decline worth monitoring. Expenses of $9.4M exceeded revenue, resulting in a 119% operating deficit.

Mission

A COOPERATIVE COMMITTED TO UNCOMMON AND KINDHEARTED BANKING, INCORPORATED UNDER THE PROVISIONS OF THE TEXAS CREDIT UNION ACT, ORGANIZED FOR THE PURPOSE OF IMPROVING OUR MEMBERS' LIVES BY PROVIDING FINANCIAL OPPORTUNITIES THROUGH SERVICES, ACCESS TO CREDIT SOURCES AT FAIR REASONABLE INTEREST RATES, AND SAVING PRODUCTS AT COMPETITIVE INTEREST RATES TO IMPROVE THEIR FINANCIAL WELL-BEING.

Program Service Accomplishments

Program 1

RELYON CREDIT UNION OFFERS A VARIETY OF CONSUMER LOAN PRODUCTS THAT INCLUDE AUTO, RECREATIONAL AND EQUIPMENT, SHARE SECURED, CREDIT CARD, UNSECURED AND CREDIT BUILDING LOANS AT FAIR REASONABLE...

RELYON CREDIT UNION OFFERS A VARIETY OF CONSUMER LOAN PRODUCTS THAT INCLUDE AUTO, RECREATIONAL AND EQUIPMENT, SHARE SECURED, CREDIT CARD, UNSECURED AND CREDIT BUILDING LOANS AT FAIR REASONABLE INTEREST RATES ALONG WITH LOAN ANCILLARY INSURANCE PROGRAMS FOR OUR MEMBERSHIP.

Program 2

RELYON CREDIT UNION OFFERS A VARIETY OF SHORT-TERM AND LONG-TERM CD AND IRA INVESTMENT OPTIONS AT COMPETITIVE RATES TO ASSIST MEMBERS IN IMPROVING AND GROWING THEIR FINANCIAL WELL-BEING.

Program 3

RELYON CREDIT UNION PROVIDES FOR A VARIETY OF SAVINGS AND CHECKINGS ACCOUNTS: INCLUDING CHECKING, REGULAR SAVINGS AND MONEY MARKETS. THE REGULAR SHARE ACCOUNT HAS A MINIMUM $5.00 ACCOUNT BALANCE WITH A ONE TIME $10.00 MEMBERSHIP FEE. THESE ACCOUNTS PAY A MONTHLY DIVIDEND. AS OF AUGUST 31, 2024 RELYON CREDIT UNION HAD APPROXIMATELY 7,500 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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $4,100,974

Investment Income $199,355

Other Revenue $0

TOTAL REVENUE $4,300,329

Expense Breakdown

Grants Paid $3,429

Salaries & Benefits $2,762,693

Fundraising Expenses $0

Other Expenses $6,669,709

TOTAL EXPENSES $9,435,831

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,300,329	$7,689,603	-0.4%
Expenses	$9,435,831	$9,641,277	0.0%
Net Income	$-5,135,502	$-1,951,674	+1.6%

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

$417,264

Total Directors

$274,932

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SARAH SPOONER	PRESIDENT/CEO & DIRECTOR	50.00	Officer Director	$265,868	$9,064	$274,932
ALBERT GOMEZ	CHAIRPERSON	1.00	Director	$0	$0	$0
JOSEPH FARRIER	VICE CHAIRPERSON	1.00	Director	$0	$0	$0
CAROLYN MIZE	SECRETARY	1.00	Director	$0	$0	$0
ANNE GLASSCOCK	DIRECTOR	1.00	Director	$0	$0	$0
DAVID KNOP	DIRECTOR	1.00	Director	$0	$0	$0
MARIAN MONROE-STEWARD	DIRECTOR	1.00	Director	$0	$0	$0
DEJAN LESKAROSKY	ADVISOR	1.00	Director	$0	$0	$0
JIM CASEY	ADVISOR	1.00	Director	$0	$0	$0
NICOLLE KOVACS	EVP/CFO	50.00	Officer	$116,786	$25,546	$142,332

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	$4,300,329	$9,435,831	No data	$-5,135,502
2023	$7,689,603	$9,641,277	$81,920,034	$-1,951,674
2022	$9,173,062	$7,408,315	$92,326,804	$1,764,747
2021	$6,453,142	$6,178,003	$85,106,036	$275,139
2020	$5,312,610	$5,278,395	$82,959,252	$34,215
2019	$3,756,859	$3,532,642	$65,832,600	$224,217