Colorado State Employees Credit Union

Nonprofit profile at a glance

EIN
840174408
IRS 990 coverage
2010–2012
Forms available
Form 990 2012
Location
Denver, CO, USA
Phone
3038324816
Rating confidence
Limited

Official website

Reported finances

Revenue
$48,734,884
Expenses
$41,290,293
Assets
$1,074,992,062
Liabilities
$946,835,911

Source: IRS Form 990. Selected filing: tax year 2012. Amounts in USD.

Leadership & pay

23 people listed

Source: IRS Form 990. Selected filing: tax year 2012. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The credit union is a member-owned not-for-profit financial institution which exists to serve the financial needs of its members.

What it reported doing in 2012

At year-end 2012, Colorado state employees credit union served 94,499 members by providing a full spectrum of financial products and services, returning profit to its members in the form of lower loan rates and higher savings rates, low fees and innovative products and services. Deposit products include checking, savings, money market, certificate of deposit, ira, esa, holiday and youth accounts. Loan products include new and used vehicles, recreational vehicles and boats, first and second mortgages, rental real estate mortgage, home equity, new and used mobile homes, share savings secured, certificate of deposit secured, credit cards and overdraft protection. In 2012, loan volume was 14,752 loans amounting to $217,618,618. Members are served by staff at fifteen locations in Colorado and through online banking and an automated telephone system.

Operating model

Revenue model
Earned-program. 90% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 82
  • Accountability: 95
  • Sustainability: 72
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 59th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Missing
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 70th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 15.3%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 26.03; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.88; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 8.2%; rating input score 18; 18th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -3.1% per year; rating input score 0; 16th percentile among comparable filings
  • Asset growth: 6.5% per year; rating input score 100; 63rd percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 11 of 11 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $626K · 23 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed
  • Consistency: 12 of 12 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 3 filing years from 2010 to 2012
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.
  • High — Sustainability: Officer compensation ratio scored 18/100.