Happy Valley Credit Union

Nonprofit profile at a glance

EIN
620225612
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Elizabethton, TN, USA
Phone
6152327975
Rating
46
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,798,850
Expenses
$1,645,056
Assets
$36,563,026
Liabilities
$30,028,805

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • Carrie Harrison (CEO Board Treasurer)

Highest reported compensation

  • Carrie Harrison (CEO Board Treasurer): $80,715 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Credit Union- To provide services for approximately 3,228 members for loans deposits and other financial services.

What it reported doing in 2025

The credit union provided a variety of loan services for its members.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. 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: 90
  • Accountability: 76
  • Sustainability: 60
  • Growth: 20

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: 100%; rating input score 100; 63rd 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: 85.7%; rating input score 86; 23rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 8.5%; rating input score 53; 53rd percentile among comparable filings
  • Total-asset coverage ratio: 22.23; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.82; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 4.9%; rating input score 50; 50th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -1.6% per year; rating input score 0; 8th percentile among comparable filings
  • Asset growth: 2.1% per year; rating input score 100; 23rd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 6 of 7 board members independent · 5 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $1.6M in reported program spending
  • Leadership: top reported pay $81K · 7 people listed
  • Consistency: 41 of 41 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 16 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 — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • Review — Sustainability: Operating margin scored 53/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.
  • Review — Sustainability: Officer compensation ratio scored 50/100.