CREDIT UNIONS IN THE STATE OF WASHINGTON

EIN: 910573334

SEATTLE, WA

Total Revenue
$2,693,734
Total Expenses
$2,660,177
Total Assets
$22,124,185
Net Assets
$20,891,532
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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
1934
Legal Domicile
WA
Principal Officer
Paul Baudin
Phone
2066221850
Tax Period
2023-01-01 to 2023-12-31

CREDIT UNIONS IN THE STATE OF WASHINGTON, founded in 1934, is a community nonprofit that reported $2.7M in total revenue in fiscal year 2023. Revenue fell 24% from the prior year — a significant decline worth monitoring. Net assets of $20.9M represent 93 months of operating reserves.

Mission

Our mission is to provide affordable credit union financial services to low and moderate income people in Washington and in doing so, help them build assets and achieve financial stability

Program Service Accomplishments

Program 1

Operational services for credit union 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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,114,276
Program Service Revenue $1,156,132
Investment Income $101,737
Other Revenue $321,589
TOTAL REVENUE $2,693,734

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,115,291
Fundraising Expenses $0
Program Expenses $0
Other Expenses $1,544,886
TOTAL EXPENSES $2,660,177

Year-over-Year Comparison

2023 2022 Change
Revenue $2,693,734 $3,542,255 -0.2%
Expenses $2,660,177 $2,253,297 +0.2%
Net Income $33,557 $1,288,958 -1.0%
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

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Governance

Voting Members
7
Independent Members
7
Employees
18
Volunteers
10

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
2
$263,445
Total Directors
7
$0
Key Employees
2
$263,445
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Paul Baudin President and CEO 48
Officer Key Emp Highest
$160,497 $0 $160,497
Elizabeth Escobar Chief Business Officer 45
Officer Key Emp
$102,948 $0 $102,948
Sarah Slonsky Chairman of the Board of Directors 2
Director
$0 $0 $0
Aaron Bresko Vice Chairman of the Board of Directors 1
Director
$0 $0 $0
Angela Lowe Secretary of the Board of Directors 1
Director
$0 $0 $0
Adrienne Lowber Director 1
Director
$0 $0 $0
Matthew Draper Director 1
Director
$0 $0 $0
Joan Geraghty Director 1
Director
$0 $0 $0
Vaughetta Barton Director 1
Director
$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
2025 No data No data No data No data
2024 No data No data No data No data
2023 $2,693,734 $2,660,177 $22,124,185 $33,557
2022 $3,542,255 $2,253,297 $19,756,399 $1,288,958
2021 $2,422,565 $1,826,748 $17,833,036 $595,817
2020 $1,933,377 $1,913,388 $15,793,499 $19,989
2019 $1,802,828 $1,719,710 $13,802,888 $83,118
2018 $1,649,449 $1,598,778 $13,168,313 $50,671
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