MY POINT 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

1948

Legal Domicile

Phone

8584953400

Tax Period

2024-01-01 to 2024-12-31

MY POINT CREDIT UNION, founded in 1948, is a mid-sized nonprofit that reported $30.7M in total revenue in fiscal year 2024. Expenses of $29.7M left a modest 3% surplus.

Mission

We are committed to working together to help our members achieve their financial goals, while being financially prudent to assure safety and soundness.

Program Service Accomplishments

Program 1

MyPoint Credit Union provides its membership competitively priced deposit products. As of 12/31/24, the credit union held 31,255 savings accounts, 21,256 checking accounts, 3,067 money market...

MyPoint Credit Union provides its membership competitively priced deposit products. As of 12/31/24, the credit union held 31,255 savings accounts, 21,256 checking accounts, 3,067 money market accounts, 3,788 share certificates, and 1,241 IRA certificates in the amount of $132,571,203, $174,017,168, $69,624,470, $166,618,876 and $13,261,555respectively. In total, the credit union held 60,607, accounts in the amount of $556,093,272 with a membership of 27,340

Program 2

MyPoint Credit Union provides its membership competitive consumer loan programs including vehicle loans, unsecured loans, and a business loan program to help our local small businesses. The credit...

MyPoint Credit Union provides its membership competitive consumer loan programs including vehicle loans, unsecured loans, and a business loan program to help our local small businesses. The credit union funded 2,370 new loans in the amount of $120,283,399 As of 12/31/2024, the credit union held 15,211 consumer and business loans in the amount of $253,266,938.

Program 3

MyPoint Credit Union offers a competitive mortgage loan program to make home ownership more affordable to its membership. In 2024, the credit union funded new real estate loans including 1st and 2nd trust deed mortgages and home equity lines of credit, in the amount of $82,830,504. As of 12/31/24, the credit union held the total of 1,773real estate loans in the amount of $262,340,441

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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 $30,712,664

Investment Income $0

Other Revenue $0

TOTAL REVENUE $30,712,664

Expense Breakdown

Grants Paid $0

Salaries & Benefits $12,456,636

Fundraising Expenses $0

Program Expenses $0

Other Expenses $17,226,075

TOTAL EXPENSES $29,682,711

Year-over-Year Comparison

	2024	2023	Change
Revenue	$30,712,664	$28,485,147	+0.1%
Expenses	$29,682,711	$27,626,695	+0.1%
Net Income	$1,029,953	$858,452	+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

125

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

$1,344,161

Total Directors

Key Employees

$1,029,599

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
David R Brooke	President/CEO	40		$543,879	$6,000	$549,879
Matthew Rhead	CEO	40	Officer	$480,211	$41,532	$521,743
Matthew Mower	SVP/CIO	40	Officer	$354,433	$37,513	$391,946
Peter Butler	SVP/COO	40	Officer	$345,052	$33,622	$378,674
Christopher Crockett	VP/Retail Operations	40	Key Emp	$249,296	$21,419	$270,715
Janet Mainenti	VP/HR	40	Key Emp	$255,365	$13,837	$269,202
Laura Carpanzano	Director of Business Lending	40	Key Emp	$236,196	$30,531	$266,727
Nicole Henderson	Controller	40	Highest	$187,965	$37,682	$225,647
Scott Norris	VP/Marketing	40	Key Emp	$194,402	$28,553	$222,955
Pey-Shiuan Zavala	IT Director	40	Highest	$198,754	$11,092	$209,846
Stephen Wallis	Director of Internal Audit	40		$173,706	$16,742	$190,448
Deborah Clow	Project Manager	40	Highest	$158,356	$27,581	$185,937
Michael Kim	VP/Lending	40		$155,948	$24,372	$180,320
Andrea Johnson	Director of Member Support Services	40	Highest	$157,172	$7,790	$164,962
Simeon Tabakov	CFO	40	Officer	$50,955	$843	$51,798
Jeffrey M Goecke	Vice Chair	10	Director	$0	$0	$0
Mark R Moeller	Treasurer	10	Director	$0	$0	$0
Jane M White	Chair	10	Director	$0	$0	$0
Linda O Stay	Secretary	10	Director	$0	$0	$0
Jo Anna Lamott	Director	10	Director	$0	$0	$0
Salvatore J Lupo	Director	10	Director	$0	$0	$0
Bryan T Hill	Director	10	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	$30,712,664	$29,682,711	$650,872,505	$1,029,953
2023	$28,485,147	$27,626,695	$657,682,402	$858,452
2022	$24,561,685	$22,218,127	$686,854,759	$2,343,558
2021	$22,582,888	$20,134,258	$682,208,293	$2,448,630
2020	$26,409,274	$21,933,044	$619,243,793	$4,476,230