General Electric Credit Union

Nonprofit profile at a glance

EIN
310568628
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Cincinnati, OH, USA
Phone
5132434328
Rating confidence
Limited

Reported finances

Revenue
$251,427,949
Expenses
$270,893,564
Assets
$4,428,702,240
Liabilities
$4,133,103,718

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

25 people listed

Executive titles in this filing

  • TIMOTHY D BALLINGER (PRESIDENT/CEO)
  • BRIAN LUCAS (SENIOR VICE PRESIDENT OF COMPLIANCE)
  • AMY S WHEELER (SENIOR VICE PRESIDENT/CONTROLLER)
  • LAURA J WURZELBACHER (SENIOR VICE PRESIDENT OF FINANCIAL PLANNING & ANALYSIS)
  • SCOTT MEYER (VICE PRESIDENT OF MORTGAGE ORIGINATIONS)

Highest reported compensation

  • TIMOTHY D BALLINGER (PRESIDENT/CEO): $929,224 total reported compensation
  • BRANDON J WHEATLEY (LOAN ORIGINATOR): $304,726 total reported compensation
  • DANIEL J VONDERHAAR (CHIEF FINANCIAL OFFICER): $280,511 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Offer a variety of quality products and financial services designed to benefit all members under a strong financial structure that ensures the continued viability of the credit union.

What it reported doing in 2024

Originated loans in excess of $732 million in various loans categories including residential, commercial, consumer, indirect auto, marine, and rv loans.

Operating model

Revenue model
Other-operating. 89% of the money available for current operations came from other operating 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: 86
  • Accountability: 89
  • Sustainability: 41
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 88.9%; rating input score 89; 36th 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: -7.7%; rating input score 10; 10th percentile among comparable filings
  • Total-asset coverage ratio: 16.35; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0.93; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 1.8%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 11.1% per year; rating input score 100; 80th percentile among comparable filings
  • Asset growth: 9.4% per year; rating input score 100; 67th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 8 of 9 board members independent · 8 of 9 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $929K · 25 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $11.7M reported
  • Consistency: 13 of 13 current checks pass
  • Schedules: 5 filed schedules · includes grants and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 33 filed money-flow records
  • Related organizations: 17 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: Operating margin scored 10/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.