Credit Unions Chartered in the State of Mi 461 Tahquamenon Area Credit Union
Nonprofit profile at a glance
- EIN
- 381577465
- IRS 990 coverage
- 2010–2025
- Forms available
- Form 990 2025
- Location
- Newberry, MI, USA
- Phone
- 9064779932
- Rating
- 37
- Verdict
- REVIEW
- Rating confidence
- Moderate
Reported finances
- Revenue
- $3,354,929
- Expenses
- $3,147,274
- Assets
- $67,506,522
- Liabilities
- $61,086,149
Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
7 people listed
Executive titles in this filing
- SHANNON LAIDLAW (CEO)
Highest reported compensation
- SHANNON LAIDLAW (CEO): $89,940 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To encourage thrift among its members, provide a variety of financial services to its members, and to provide an opportunity for its members to use and control their own money on a democratic basis in order to improve their economic and social condition.
What it reported doing in 2025
Provided 4,634 members with prime share, share draft, christmas club, ira, money market and share certificates of deposit accounts for a total of 9,873 accounts.
Operating model
- Revenue model
- Earned-program. 80% 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
REVIEW - The filed numbers largely add up and program spending has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 0
- Transparency & Controls: 93
- Accountability: 5
- Sustainability: 58
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 0%; rating input score 0
- Program expense ratio: 0%; rating input score 0
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 93.3%; rating input score 93; 18th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 0%; rating input score 0; 4th percentile among comparable filings
- Governance controls: 1 of 8 controls in place; rating input score 12
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Fail
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Fail
- Audit committee oversight: Fail
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 6.2%; rating input score 46; 46th percentile among comparable filings
- Total-asset coverage ratio: 21.45; rating input score 95; 95th percentile among comparable filings
- Liabilities to assets ratio: 0.9; rating input score 4; 4th percentile among comparable filings
- Officer compensation ratio: 2.9%; rating input score 71; 71st percentile among comparable filings
Growth
- Program expense growth: 11.9% per year; rating input score 100; 67th percentile among comparable filings
- Revenue growth: 1.2% per year; rating input score 100; 12th percentile among comparable filings
- Asset growth: 1.1% per year; rating input score 100; 14th percentile among comparable filings
Details
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 0 of 7 board members independent · 1 of 8 filing controls reported
- Programs: 3 filed program accomplishments
- Leadership: top reported pay $90K · 7 people listed
- Highest-paid contractors: 3 contractors listed · $434K reported
- Consistency: 13 of 15 current checks pass · 2 findings to review
- Schedules: 3 filed schedules
- Filing history: 15 filing years from 2010 to 2025
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- 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.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- High — Accountability: Independent voting board scored 0/100.
- High — Accountability: Governance controls: 7 of 8 not reported.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
- Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
- Moderate — Sustainability: Operating margin scored 46/100.
- High — Sustainability: Liabilities to assets ratio scored 4/100.