ELGA Credit Union
Nonprofit profile at a glance
- EIN
- 381441242
- IRS 990 coverage
- 2010–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- Grand Blanc, MI, United States
- Phone
- (810) 715-3542
- Rating confidence
- Limited
Reported finances
- Revenue
- $123,097,040
- Expenses
- $95,636,518
- Assets
- $1,552,368,811
- Liabilities
- $1,335,223,604
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
20 people listed
Executive titles in this filing
- TERRY KATZUR (CEO)
Highest reported compensation
- TERRY KATZUR (CEO): $1,071,873 total reported compensation
- DAVID BRANDT (EVP): $412,057 total reported compensation
- KATHLEEN SMITH (VP OF BRANCH EXPERIENCE): $263,920 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Building Lifelong Relationships with our members and the communities we serve. The dedicated individuals who serve as ELGA’s Board of Directors are an important part of ELGA Credit Union’s success. Board Members are democratically elected by the membership. The ELGA Board provides the support and oversight that allows us to offer competitive, innovative products and services. The ELGA Board is an important part of ELGA’s mission statement of _Building Lifelong Relationships_ with our members and the communities we serve. Harold Mott Harold Mott,.
What it reported doing in 2024
The credit union provides a variety of loans to members including real estate, credit card, vehicle, and other. The total number of loans outstanding at december 31, 2024 was 93,022.
Operating model
- Revenue model
- Earned-program. 91% 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: 88
- Accountability: 100
- Sustainability: 75
- Growth: 60
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; 68th percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- 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: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 22.3%; rating input score 89; 89th percentile among comparable filings
- Total-asset coverage ratio: 16.23; rating input score 95; 95th percentile among comparable filings
- Liabilities to assets ratio: 0.86; rating input score 15; 15th percentile among comparable filings
- Officer compensation ratio: 3.5%; rating input score 31; 31st percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 12.8% per year; rating input score 100; 85th percentile among comparable filings
- Asset growth: 13.8% per year; rating input score 100; 83rd percentile among comparable filings
Details
- What they do: 1 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 7 of 7 board members independent · 9 of 9 filing controls reported
- Programs: 2 filed program accomplishments
- Leadership: top reported pay $1.1M · 20 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $4.4M reported
- Consistency: 14 of 14 current checks pass
- Schedules: 7 filed schedules · includes major donors, grants, and executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 14 filed money-flow records
- Related organizations: 4 filed related-organization links
- 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 — Sustainability: Liabilities to assets ratio scored 15/100.
- Moderate — Sustainability: Officer compensation ratio scored 31/100.