UNION SQUARE 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

1957

Legal Domicile

Principal Officer

PATRICK MURRAY

Phone

9407208000

Tax Period

2023-01-01 to 2023-12-31

UNION SQUARE CREDIT UNION, founded in 1957, is a mid-sized nonprofit that reported $42.0M in total revenue in fiscal year 2023. Revenue surged 23% from the prior year, signaling strong growth momentum.

Mission

TO SERVE FINANCIAL NEEDS AND DREAMS.

Program Service Accomplishments

Program 1

TO SERVE THE FINANCIAL NEEDS AND DREAMS OF THE MEMBERS. UNION SQUARE CREDIT UNION CORE VALUES INCLUDE MEMBER SERVICE AND SENSITIVITY, ETHICAL AND LEGAL BEHAVIOR, DIVERSITY AND EQUAL OPPORTUNITY...

TO SERVE THE FINANCIAL NEEDS AND DREAMS OF THE MEMBERS. UNION SQUARE CREDIT UNION CORE VALUES INCLUDE MEMBER SERVICE AND SENSITIVITY, ETHICAL AND LEGAL BEHAVIOR, DIVERSITY AND EQUAL OPPORTUNITY, SOUND, STRONG BUSINESS JUDGMENT, AND FRIENDLY AND KNOWLEDGEABLE STAFF. WITH THESE VALUES, UNION SQUARE CREDIT UNION'S VISION IS TO BE THE FINANCIAL CENTER OF CHOICE.

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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 $37,960,255

Investment Income $4,068,436

Other Revenue $-42,584

TOTAL REVENUE $41,986,107

Expense Breakdown

Grants Paid $0

Salaries & Benefits $10,250,312

Fundraising Expenses $0

Other Expenses $23,032,499

TOTAL EXPENSES $43,331,875

Year-over-Year Comparison

	2023	2022	Change
Revenue	$41,986,107	$34,027,572	+0.2%
Expenses	$43,331,875	$30,027,317	+0.4%
Net Income	$-1,345,768	$4,000,255	-1.3%

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

190

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

$1,799,070

Total Directors

$389,229

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN BARAD	PRESIDENT/CEO (THRU 9/20/23)	40.00	Officer Director	$300,250	$39,042	$339,292
SCOTT FLINN	SR. VICE PRESIDENT MORTGAGE SERVICES	40.00	Officer	$214,255	$14,336	$228,591
PATRICK MURRAY	INTERIM PRESIDENT/CEO	40.00	Officer	$174,336	$22,008	$196,344
JOE GUIDRY	CHIEF INFORMATION OFFICER	40.00	Officer	$161,114	$22,201	$183,315
TEEA REED	CHIEF OPERATIONS OFFICER	40.00	Officer	$154,124	$23,511	$177,635
TAMMY HUGHES	MORTGAGE LENDING PRODUCTION MANAGER	40.00	Highest	$154,244	$14,675	$168,919
ANGELA DAVIS	MORTGAGE LOAN OFFICER	40.00	Highest	$145,861	$13,251	$159,112
DUSTIN BARGER	VICE PRESIDENT CONSUMER LENDING	40.00	Officer	$118,142	$18,354	$136,496
MONICA DAVIS	SR. VICE PRESIDENT RISK MANAGEMENT	40.00	Officer	$116,282	$19,315	$135,597
MEGAN MAGANA	VICE PRESIDENT HUMAN RESOURCES	40.00	Officer	$110,775	$20,308	$131,083
KAREN SCHREIBER	VICE PRESIDENT ACCOUNTING	40.00	Officer	$114,085	$15,881	$129,966
IDA FERGUSON	AVP MORTGAGE UNDERWRITING	40.00	Highest	$114,319	$15,067	$129,386
JEFFERY GLADU	VICE PRESIDENT TECHNOLOGY OFFICER	40.00	Officer	$102,559	$14,870	$117,429
DAVID NIX	CHAIRMAN	1.00	Officer Director	$9,000	$0	$9,000
JULIE PRUETT	DIRECTOR	1.00	Director	$9,000	$0	$9,000
PAUL FLEMING	DIRECTOR	1.00	Director	$9,000	$0	$9,000
DANNY AHERN	DIRECTOR	1.00	Director	$8,615	$0	$8,615
ERIC WEST	SECRETARY/TREASURER	1.00	Officer Director	$7,769	$0	$7,769
GARY STEVENSON	VICE CHAIRMAN	1.00	Officer Director	$6,553	$0	$6,553

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	$41,986,107	$43,331,875	$620,933,965	$-1,345,768
2022	$34,027,572	$30,027,317	$684,777,588	$4,000,255
2021	$29,182,874	$25,504,182	$559,980,799	$3,678,692
2020	$23,422,986	$21,945,557	$478,483,331	$1,477,429
2019	$19,949,532	$18,442,000	$372,947,272	$1,507,532
2018	$18,435,755	$17,953,344	$352,132,020	$482,411