HAWAII CREDIT UNION LEAGUE

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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

1956

Legal Domicile

Principal Officer

TIMOTHY ASHCRAFT

Phone

8089410556

Tax Period

2024-07-01 to 2025-06-30

HAWAII CREDIT UNION LEAGUE, founded in 1956, is a community nonprofit that reported $1.2M in total revenue in fiscal year 2024. Revenue decreased 9% compared to the prior year. Expenses of $1.4M exceeded revenue, resulting in a 19% operating deficit.

Mission

THE HAWAII CREDIT UNION LEAGUE (HCUL) IS THE TRADE ASSOCIATION THAT SERVES THE INTEREST OF CREDIT UNIONS DOMICILED IN HAWAII AND GUAM. THESE CREDIT UNIONS SERVE THE FINANCIAL NEEDS OF RESIDENTS OF THESE LOCALITIES. PERPETUATING THE CREDIT UNION PHILOSOPHY OF "PEOPLE HELPING PEOPLE" IS OUR MISSION. PROMOTING COLLABORATION WITH OUR MEMBERS TO ADDRESS THEIR NEEDS IS OUR PURPOSE. PROVIDING LEADERSHIP IN ADVOCACY, EDUCATION AND INFORMATION IS OUR SHARED COMMITTMENT.

Program Service Accomplishments

Program 1

EDUCATION AND TRAINING: TRAIN AND UPDATE CREDIT UNION PERSONNEL ANDVOLUNTEERS ON CREDIT UNION SERVICES AND OTHER RELATED MATTERS; DISCUSSTHE PROGRESS AND PROBLEMS OF CREDIT UNIONS AND RELATED...

EDUCATION AND TRAINING: TRAIN AND UPDATE CREDIT UNION PERSONNEL ANDVOLUNTEERS ON CREDIT UNION SERVICES AND OTHER RELATED MATTERS; DISCUSSTHE PROGRESS AND PROBLEMS OF CREDIT UNIONS AND RELATED PURPOSES. SERVESTHE INTERESTS OF CREDIT UNIONS DOMICILED IN HAWAII AND GUAM.

Program 2

GOVERNMENT RELATIONS: ASSIST CREDIT UNIONS WITH REGULATORY MATTERS ANDLOBBY FOR OR AGAINST BILLS AFFECTING CREDIT UNIONS ON FEDERAL, STATE,AND COUNTY LEVELS; PROMOTE THE CREDIT UNION MOVEMENT AND THE WAY THEYASSIST MEMBERS, INCLUDING THOSE OF MODEST MEANS, THROUGH PUBLICAWARENESS OF CREDIT UNIONS AND THE SERVICES OFFERED BY THEM. SERVES THEINTERESTS OF CREDIT UNIONS DOMICILED IN HAWAII AND GUAM.

Program 3

MEMBER SERVICES: HELP CREDIT UNIONS HELP THEIR MEMBERS BY PROVIDINGINFORMATION OF IMPORTANCE. SERVES THE INTERESTS OF CREDIT UNIONSDOMICILED IN HAWAII AND GUAM.

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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 $38

Program Service Revenue $1,277,081

Investment Income $45,644

Other Revenue $-140,614

TOTAL REVENUE $1,182,149

Expense Breakdown

Grants Paid $0

Salaries & Benefits $751,724

Fundraising Expenses $0

Other Expenses $656,782

TOTAL EXPENSES $1,408,506

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,182,149	$1,301,054	-0.1%
Expenses	$1,408,506	$1,340,658	+0.1%
Net Income	$-226,357	$-39,604	+4.7%

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

$137,081

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NORMAN OKIMOTO	CHAIRMAN	10.00	Officer Director	$0	$0	$0
TESS SHIMABUKURO	VICE CHAIR	10.00	Officer Director	$0	$0	$0
SCOTT KAULUKUKUI	SECRETARY	10.00	Officer Director	$0	$0	$0
ALAN ARAI	TREASURER	10.00	Officer Director	$0	$0	$0
NICOLE AGUINALDO	DIRECTOR	10.00	Director	$0	$0	$0
GUY MURAOKA	DIRECTOR	10.00	Director	$0	$0	$0
AARON SUGIMOTO	DIRECTOR	10.00	Director	$0	$0	$0
TIMOTHY ASHCRAFT	PRESIDENT	20.00	Officer	$66,277	$4,526	$137,081

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
2025	$1,182,149	$1,408,506	$3,798,827	$-226,357
2024	$1,301,054	$1,340,658	$3,844,776	$-39,604
2023	$1,296,560	$1,307,568	$3,808,557	$-11,008
2022	$1,206,705	$1,174,842	$3,807,665	$31,863
2021	$1,196,867	$991,010	$3,813,919	$205,857
2020	$1,018,415	$1,097,654	$3,602,581	$-79,239
2019	$1,280,013	$1,320,337	$3,595,963	$-40,324
2018	$1,188,820	$1,196,960	$4,074,619	$-8,140