MONTEREY 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

1968

Legal Domicile

Principal Officer

WADE PYRON

Phone

8316471000

Tax Period

2023-01-01 to 2023-12-31

MONTEREY CREDIT UNION, founded in 1968, is a mid-sized nonprofit that reported $13.4M in total revenue in fiscal year 2023.

Mission

A FINANCIAL COOPERATIVE, ORGANIZED TO PROVIDE A COMPLETE SELECTYION OF FINANCIAL PRODUCTS TO OUR MEMBERS, CREATING A SOURCE OF CREDIT AT A RATE OF INTEREST SET BY THE BOARD OF DIRECTORS, AND PROVIDING AN OPPORTUNITY FOR THE MEMBERS TO USE AND CONTROL THEIR MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. AS A COOPERATIVE, MONTEREY CREDIT UNION CONDUCTS ITS BUSINESS FOR THE MUTUAL BENEFIT OF ITS MEMBERS.

Program Service Accomplishments

Program 1

SUCCESSFUL PROVISION OF AN AUTO LOAN PROGRAM, USING BOTH DIRECT AND INDIRECT CHANNELS TO DELIVER OUR PRODUCTS.

Program 2

SUCCESSFUL PROVISION OF SAVINGS AND CHECKING PRODUCTS, WHICH ALLOWS OUR MEMBERS TO FULFILL THEIR PERSONAL FINANCIAL NEEDS.

Program 3

SUCCESSFUL PROVISION OF DELIVERY CHANNELS TO MEET THE VARYING NEEDS OF OUR MEMBERS; INCLUDING BRANCHES, ATMS, AND OTHER REMOTE MEANS OF ACCESSING THE CREDIT UNION'S FINANCIAL PRODUCTS.

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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 $11,819,185

Investment Income $1,595,309

Other Revenue $0

TOTAL REVENUE $13,414,494

Expense Breakdown

Grants Paid $0

Salaries & Benefits $7,465,855

Fundraising Expenses $0

Other Expenses $7,004,142

TOTAL EXPENSES $14,469,997

Year-over-Year Comparison

	2023	2022	Change
Revenue	$13,414,494	$12,967,037	+0.0%
Expenses	$14,469,997	$11,452,496	+0.3%
Net Income	$-1,055,503	$1,514,541	-1.7%

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

$3,346,215

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PETE TANSILL	CHAIR	2.00	Officer Director	$0	$0	$0
CANDACE INGRAM	VICE CHAIR	2.00	Officer Director	$0	$0	$0
CARL SEDORYK	SECRETARY & TREASURER	2.00	Officer Director	$0	$0	$0
ROBERT BRANDEWIE	BOARD MEMBER	2.00	Director	$0	$0	$0
JENNIFER CLARKE	BOARD MEMBER	2.00	Director	$0	$0	$0
JEAN DJUBASAK	BOARD MEMBER	2.00	Director	$0	$0	$0
SARAH HARDGRAVE	BOARD MEMBER	2.00	Director	$0	$0	$0
DAVID LAREDO	BOARD MEMBER	2.00	Director	$0	$0	$0
TARA TRAUTSCH	BOARD MEMBER	2.00	Director	$0	$0	$0
JUDY HIGGERSON	BOARD MEMBER (THRU 05/2023)	2.00	Director	$0	$0	$0
KATHLEEN ALIOTTI	VP MEMBER SERVICES	40.00	Officer	$370,001	$67,496	$437,497
SIDNEY COOPER	CFO	40.00	Officer	$76,848	$7,533	$84,381
J STEWART FULLER	CEO (THRU 10/2023)	40.00	Officer	$598,416	$39,649	$638,065
MATTHEW HOHMAN	COO	40.00	Officer	$542,376	$20,383	$562,759
HEATHER MALAFRONTE	VP HUMAN RESOURCES	40.00	Officer	$265,553	$17,870	$283,423
E SCOTT MORRIS	VP INFORMATION SERVICES	40.00	Officer	$401,367	$63,437	$464,804
JAMES E PENPRASE	VP FINANCE (THRU 10/2023)	40.00	Officer	$521,328	$20,714	$542,042
JAMES WADE PYRON	PRESIDENT - CEO	40.00	Officer	$333,244	$0	$333,244
ANDREW BONO	SENIOR NETWORK ADMINISTRATOR	40.00	Highest	$201,919	$28,638	$230,557
MATTHEW BROWN	SYSTEMS ADMINISTRATOR II	40.00	Highest	$135,308	$10,234	$145,542
CHRISTOPER BURKHARDT	VP LENDING	40.00	Highest	$209,963	$8,906	$218,869
DAVID MARCOS	SYSTEMS ADMINISTRATOR II	40.00	Highest	$143,165	$55,665	$198,830
A DAVID SANTOS	VP RETAIL SALES	40.00	Highest	$187,405	$27,761	$215,166

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	$13,414,494	$14,469,997	$290,805,580	$-1,055,503
2023	$13,414,494	$14,469,997	$290,805,580	$-1,055,503
2022	$12,967,037	$11,452,496	$299,185,113	$1,514,541
2021	$11,609,483	$10,573,160	$306,137,771	$1,036,323
2020	$11,834,259	$11,176,794	$286,321,494	$657,465
2019	$13,180,417	$12,060,121	$248,930,559	$1,120,296
2018	$13,017,486	$11,752,732	$243,055,132	$1,264,754