TRUWEST CREDIT UNION (EIN 866050959) - Form 990 Financial Analysis & Trantor Score

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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

CHRIS KEARNEY

Phone

6026292065

Tax Period

2024-01-01 to 2024-12-31

TRUWEST CREDIT UNION, founded in 1952, is a major nonprofit that reported $110.5M in total revenue in fiscal year 2024. Revenue grew 19% year-over-year, indicating healthy expansion. Expenses of $100.8M left a modest 9% surplus.

Mission

A COOPERATIVE PROVIDING FINANCIAL SOLUTIONS SO MEMBERS CAN ACHIEVE THEIR GOALS.

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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 $97,384,361

Investment Income $12,998,959

Other Revenue $78,222

TOTAL REVENUE $110,461,542

Expense Breakdown

Grants Paid $198,259

Salaries & Benefits $34,530,989

Fundraising Expenses $0

Other Expenses $39,482,451

TOTAL EXPENSES $100,822,855

Year-over-Year Comparison

	2024	2023	Change
Revenue	$110,461,542	$92,658,143	+0.2%
Expenses	$100,822,855	$76,945,341	+0.3%
Net Income	$9,638,687	$15,712,802	-0.4%

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

311

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

$5,083,459

Total Directors

$150,095

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALAN ALTHOUSE	PRESIDENT & CEO	40.00	Officer	$927,301	$172,309	$1,099,610
FRED FARBOD	SVP & CHIEF LENDING OFFICER	40.00	Officer	$778,874	$171,702	$950,576
BRENT CATTANI	FINANCIAL ADVISOR II	40.00	Highest	$604,362	$68,132	$672,494
CHRIS KEARNEY	SVP & CHIEF INFORMATION OFFICER	40.00	Officer	$477,328	$155,347	$632,675
GARY BERNARD	EVP CHIEF OPERATIONS OFFICER	40.00	Officer	$450,338	$172,448	$622,786
MICHAEL WARD	SVP & CHIEF FINANCIAL OFFICER	40.00	Officer	$355,036	$146,329	$501,365
KATHERINE SCIASCIA	MORTGAGE LOAN ORIGINATOR	40.00	Highest	$433,156	$67,368	$500,524
JENNIFER KIMMELL	SVP & CHIEF EXPERIENCE OFFICER	40.00	Officer	$325,289	$155,522	$480,811
DARREN KENNON	MORTGAGE LOAN OFFICER	40.00	Highest	$333,331	$67,466	$400,797
ALYSSE MEDINA	SVP & CHIEF LEGAL OFFICER	40.00	Officer	$262,390	$124,676	$387,066
NIKKI BADJE	SVP & CHIEF PEOPLE OFFICER	40.00	Officer	$247,927	$97,012	$344,939
KELLY ARGALL	MORTGAGE LOAN OFFICER	40.00	Highest	$260,581	$42,370	$302,951
KATHLEEN HOFFMAN	MORTGAGE LOAN ORIGINATOR	40.00	Highest	$234,828	$42,311	$277,139
MIKE MOULTON	CHAIRMAN	5.00	Officer Director	$19,225	$0	$19,225
DAVE HOLODY	DIRECTOR	1.50	Director	$18,367	$0	$18,367
RICK O'CONNOR	VICE CHAIRMAIN	2.00	Officer Director	$15,636	$0	$15,636
SUSANNA DEFRANCO	TREASURER	1.50	Officer Director	$15,353	$0	$15,353
STEVE BENTON	DIRECTOR	1.00	Director	$15,115	$0	$15,115
SCOTT JOHS	DIRECTOR	1.00	Director	$13,650	$0	$13,650
TIM NIESZ	DIRECTOR	1.00	Director	$13,500	$0	$13,500
JEFF HOMER	SECRETARY	1.00	Officer Director	$13,417	$0	$13,417
CAITLIN DAVISON	DIRECTOR	1.00	Director	$10,860	$0	$10,860
THOMAS CUMMISKEY	DIRECTOR (THRU 4/23/24)	1.00	Director	$9,972	$0	$9,972
MIKE VASKO	DIRECTOR (THRU 4/23/24)	1.00	Director	$5,000	$0	$5,000

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	$110,461,542	$100,822,855	$1,607,001,608	$9,638,687
2023	$92,658,143	$76,945,341	$1,810,234,989	$15,712,802
2022	$72,242,165	$60,300,911	$1,514,781,756	$11,941,254
2021	$64,029,017	$52,282,209	$1,519,187,668	$11,746,808
2020	$69,985,415	$58,663,699	$1,368,227,248	$11,321,716
2019	$71,602,053	$59,293,561	$1,213,835,938	$12,308,492
2018	$62,799,985	$54,672,598	$1,152,658,837	$8,127,387

TRUWEST CREDIT UNION