EDUCATIONAL EMPLOYEES 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

1934

Legal Domicile

Principal Officer

ELIZABETH DOOLEY

Phone

5594377731

Tax Period

2024-01-01 to 2024-12-31

EDUCATIONAL EMPLOYEES CREDIT UNION, founded in 1934, is a major nonprofit that reported $239.3M in total revenue in fiscal year 2024. Revenue grew 18% year-over-year, indicating healthy expansion. The organization ran a surplus of $62.9M, a strong 26% operating margin.

Mission

EDUCATIONAL EMPLOYEES CREDIT UNION IS A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS, CREATING A SOURCE OF CREDIT FOR THEM AT RATES OF INTEREST SET BY THE BOARD OF DIRECTORS, AND PROVIDING AN OPPORTUNITY FOR THEM TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. AS A COOPERATIVE, EDUCATIONAL EMPLOYEES CREDIT UNION CONDUCTS ITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITS MEMBERS WITH THE EARNINGS, SAVINGS, BENEFIT, OR SERVICE OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS.

Program Service Accomplishments

Program 1

ACHIEVED SATISFACTORY RESULTS IN PROVIDING MEMBERS WITH CONSUMER LOANS FROM A BROAD ARRAY OF PRODUCT OFFERINGS, INCLUDING VEHICLE LOANS, CREDIT CARDS AND PERSONAL LINES OF CREDIT.

Program 2

ACHIEVED SATISFACTORY RESULTS IN PROVIDING MEMBERS WITH MORTGAGE LOANS, INCLUDING FIRST TRUST DEEDS, SECOND TRUST DEEDS AND HOME EQUITY LINES OF CREDIT.

Program 3

ACHIEVED SATISFACTORY RESULTS IN PROVIDING MEMBERS WITH A BROAD ARRAY OF DEPOSIT PRODUCT OFFERINGS, INCLUDING A HIGH-YIELD CHECKING ACCOUNT PRODUCT AND A PREMIUM-RATE TIERED SAVINGS PRODUCT.

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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 $179,155,809

Investment Income $60,156,001

Other Revenue $0

TOTAL REVENUE $239,311,810

Expense Breakdown

Grants Paid $698,625

Salaries & Benefits $53,325,575

Fundraising Expenses $0

Other Expenses $122,416,335

TOTAL EXPENSES $176,440,535

Year-over-Year Comparison

	2024	2023	Change
Revenue	$239,311,810	$202,431,940	+0.2%
Expenses	$176,440,535	$138,316,226	+0.3%
Net Income	$62,871,275	$64,115,714	0.0%

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

Governance

Voting Members

Independent Members

Employees

662

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

$2,980,715

Total Directors

$17,804

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WALTER FRANZELL	CHAIR	4.00	Director	$3,631	$0	$3,631
ALI NEKUMANESH	VICE CHAIR	4.00	Director	$1,284	$0	$1,284
LISA CUTTS	TREASURER	2.00	Director	$159	$0	$159
MIKE SNELL	SECRETARY	2.00	Director	$1,409	$0	$1,409
DEREK SCHARTON	BOARD MEMBER	2.00	Director	$2,548	$0	$2,548
PHILIP NEUFELD	BOARD MEMBER	2.00	Director	$339	$0	$339
DAVE ROBERTS	BOARD MEMBER	2.00	Director	$667	$0	$667
BRAD STEVENS	BOARD MEMBER	2.00	Director	$1,083	$0	$1,083
DARCY WILLIAMS	BOARD MEMBER	2.00	Director	$159	$0	$159
THOMAS BORCHARDT	BOARD MEMBER (EMERITUS)	2.00	Director	$159	$0	$159
RICK BROWNING	BOARD MEMBER (EMERITUS)	2.00	Director	$1,657	$0	$1,657
BARBARA THOMAS	BOARD MEMBER (EMERITUS)	2.00	Director	$159	$0	$159
WILLIAM CLARK	SUPR CMTE CHAIR	2.00	Director	$1,580	$0	$1,580
NIKOLAUS DEJONG	SUPR CMTE SECRETARY	2.00	Director	$2,221	$0	$2,221
LAURIE MADDEN	SUPR CMTE MEMBER	2.00	Director	$431	$0	$431
KATHRYN ORTEGA-JONES	SUPR CMTE MEMBER	2.00	Director	$159	$0	$159
SAENG BUNSY	SUPR CMTE MEMBER	2.00	Director	$159	$0	$159
ELIZABETH DOOLEY	CEO	60.00	Officer	$1,130,767	$415,886	$1,546,653
BEVERLY RYAN	CFO	50.00	Officer	$484,598	$44,473	$529,071
MARK PEREZ	CLO	50.00	Officer	$469,895	$91,336	$561,231
NATALIE TOMAJAN	COO	40.00	Officer	$290,501	$53,259	$343,760
DICK ASHJIAN	SVP RISK MGMT	50.00	Highest	$416,518	$72,005	$488,523
THOMAS GRAY	SVP HR & FACILITIES	50.00	Highest	$415,540	$66,139	$481,679
BRADLEY TOWERS	FINANCIAL REP	50.00	Highest	$379,244	$34,897	$414,141
ERIC HOVDA	SVP IT	50.00	Highest	$306,286	$71,044	$377,330
ELENA MARTIN	CONTROLLER	50.00	Highest	$286,199	$43,509	$329,708

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	$239,311,810	$176,440,535	$4,711,208,087	$62,871,275
2023	$202,431,940	$138,316,226	$4,647,760,922	$64,115,714
2022	$167,213,088	$122,071,053	$4,593,284,886	$45,142,035
2021	$140,033,802	$110,798,867	$4,681,848,243	$29,234,935
2020	$135,085,182	$111,950,138	$4,082,351,869	$23,135,044
2019	$143,847,329	$107,874,056	$3,213,871,503	$35,973,273
2018	$129,080,535	$96,292,375	$3,024,628,749	$32,788,160