NORTHWEST PLUS 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

1939

Legal Domicile

Principal Officer

TORRIE RAMOS

Phone

4252971000

Tax Period

2023-01-01 to 2023-12-31

NORTHWEST PLUS CREDIT UNION, founded in 1939, is a mid-sized nonprofit that reported $12.7M in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion. The organization ran a surplus of $2.2M, a strong 17% operating margin.

Mission

WE ARE COMMITTED TO HELP OUR MEMBERS GET AHEAD FINANCIALLY THROUGH EXCELLENT SERVICE AND QUALITY PRODUCTS.

Program Service Accomplishments

Program 1

SINCE 1939, NW PLUS CREDIT UNION HAS PROVIDED FINANCIAL SERVICES TO THEEMPLOYEES AND FAMILY MEMBERS OF FRONTIER COMMUNICATIONS FORMERLY KNOWNAS GTE AND VERIZON. SINCE THEN, WE HAVE EXPANDED OUR...

SINCE 1939, NW PLUS CREDIT UNION HAS PROVIDED FINANCIAL SERVICES TO THEEMPLOYEES AND FAMILY MEMBERS OF FRONTIER COMMUNICATIONS FORMERLY KNOWNAS GTE AND VERIZON. SINCE THEN, WE HAVE EXPANDED OUR CHARTER TO INCLUDEANYONE WHO LIVES, WORKS OR WORSHIPS IN THE STATE OF WASHINGTON. NW PLUSCREDIT UNION'S EXISTENCE REFLECTS ITS MEMBERS' COMBINED INTERESTS TOBENEFIT THE GENERAL MEMBERSHIP IN THE LOCAL COMMUNITIES WE SERVE. WEPROVIDE A FULL SPECTRUM OF FINANCIAL PRODUCTS AND SERVICES AND RETURNTHE PROFIT TO OUR MEMBERS, WITH LOWER LOAN RATES AND HIGHER SAVINGSRATES, LOW FEES, AND INNOVATIVE PRODUCTS. THIS DIRECT FINANCIAL VALUEIS GIVEN BACK TO OUR MEMBERS, INSTEAD OF BEING PAID TO A LIMITED NUMBEROF STOCKHOLDERS, OFFICERS, OR OUT-OF-STATE OWNERS, AS MANY BANKS DO. ASOF DECEMBER 31, 2023, NW PLUS CREDIT UNION HAD 16,348 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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $10,741,283

Investment Income $1,850,577

Other Revenue $122,367

TOTAL REVENUE $12,714,227

Expense Breakdown

Grants Paid $13,450

Salaries & Benefits $4,256,174

Fundraising Expenses $0

Other Expenses $6,253,831

TOTAL EXPENSES $10,523,455

Year-over-Year Comparison

	2023	2022	Change
Revenue	$12,714,227	$11,218,832	+0.1%
Expenses	$10,523,455	$8,418,602	+0.3%
Net Income	$2,190,772	$2,800,230	-0.2%

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

$709,907

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRAD JONES	VICE CHAIRMAN	2.00	Officer Director	$0	$0	$0
GARY HEILMAN	CHAIR	3.00	Officer Director	$0	$0	$0
JOHN CONDERMAN	DIRECTOR	2.00	Director	$0	$0	$0
KIMBERLY STONE	DIRECTOR	2.00	Director	$0	$0	$0
PAUL ERICKSON	SECRETARY	2.00	Director	$0	$0	$0
HARLAN MAYER	DIRECTOR	2.00	Director	$0	$0	$0
LINDA ALVAR	DIRECTOR	1.00	Director	$0	$0	$0
BRIAN WALKER	CFO	40.00	Officer	$167,402	$10,606	$178,008
DEBRA DRISCOLL	CLO	40.00	Officer	$148,211	$1,819	$150,030
TORRIE RAMOS	CEO/PRESIDENT	40.00	Officer	$381,869	$0	$381,869

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	$12,714,227	$10,523,455	$298,821,651	$2,190,772
2022	$11,218,832	$8,418,602	$302,129,709	$2,800,230
2021	$11,941,664	$8,657,118	$299,736,440	$3,284,546
2020	$12,359,441	$9,493,470	$265,102,624	$2,865,971
2019	$11,817,089	$9,010,536	$211,114,081	$2,806,553
2018	$10,963,536	$8,722,221	$199,322,340	$2,241,315