MERCO 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

1966

Legal Domicile

Principal Officer

David W Ness

Phone

2097234285

Tax Period

2023-01-01 to 2023-12-31

MERCO Credit Union, founded in 1966, is a community nonprofit that reported $10.0M in total revenue in fiscal year 2023. Revenue surged 27% from the prior year, signaling strong growth momentum. Expenses of $9.2M left a modest 8% surplus.

Mission

Non-profit, State-chartered, Natural Person Credit Union. Provide competitive financial services to the members of Merco Credit Union.

Program Service Accomplishments

Program 1

Provided deposit and loan accounts to 14,250 members. Provided low cost source of credit and low cost financial services to our members. Provided source for member savings and checking account needs.

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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 $6,828,431

Investment Income $844,906

Other Revenue $2,301,921

TOTAL REVENUE $9,975,258

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,333,379

Fundraising Expenses $0

Other Expenses $5,338,202

TOTAL EXPENSES $9,175,552

Year-over-Year Comparison

	2023	2022	Change
Revenue	$9,975,258	$7,877,946	+0.3%
Expenses	$9,175,552	$6,906,965	+0.3%
Net Income	$799,706	$970,981	-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

$664,588

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
David W Ness	President & CEO	40.00	Officer	$182,527	$26,577	$209,104
David Bren Horrocks	VP Finance/CFO	40.00	Officer	$114,748	$13,244	$127,992
Donna Maher	VP HR &Training	40.00	Officer	$99,436	$12,158	$111,594
Jennifer Toste	VP Branch Op	40.00	Officer	$96,625	$11,726	$108,351
Shay Lopez	VP Chief Lendin	40.00	Officer	$96,016	$11,531	$107,547
Jim Murphy	Board Member	2.00	Director	$0	$0	$0
Ron Kinchloe	Board Member	2.00	Director	$0	$0	$0
M Stephen Jones	Board Member	2.00	Director	$0	$0	$0
John Pedrozo	Board Member	2.00	Director	$0	$0	$0
Barbara Jamison	Board Member	2.00	Director	$0	$0	$0
Olivia Webster	Board Member	2.00	Director	$0	$0	$0
Joe Sapien	Board Member	2.00	Director	$0	$0	$0
Hubert Walsh	Board Member	2.00	Director	$0	$0	$0
Michael Rhodes	Board Member	2.00	Director	$0	$0	$0
John Price	Board Member	2.00	Director	$0	$0	$0
Kent Christensen	Board Member	2.00	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
2024	No data	No data	No data	No data
2023	$9,975,258	$9,175,552	$185,546,712	$799,706
2022	$7,877,946	$6,906,965	$174,840,743	$970,981
2021	$7,644,762	$4,910,468	$166,465,181	$2,734,294
2020	$5,654,431	$5,243,841	$143,567,580	$410,590
2019	$6,034,085	$5,029,453	$118,781,516	$1,004,632
2018	$5,581,427	$4,574,899	$116,503,078	$1,006,528