Holyoke Credit Union

Nonprofit profile at a glance

EIN
041448660
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Holyoke, MA, USA
Phone
4132786860
Rating confidence
Limited

Official website

Reported finances

Revenue
$16,872,000
Expenses
$15,452,344
Assets
$297,179,837
Liabilities
$278,232,929

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

Leadership & pay

17 people listed

Executive titles in this filing

  • JAMES WOLOHAN (PRESIDENT/CEO)

Highest reported compensation

  • JAMES WOLOHAN (PRESIDENT/CEO): $295,269 total reported compensation
  • ADRIENNE SCOTT (RETAIL BANKING OFFICER): $178,123 total reported compensation
  • STACEY O'SULLIVAN (VP LENDING ADMINISTRATION): $175,353 total reported compensation

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

Overview

Mission

The holyoke credit union mission is to provide members with an excellent selection of high-quality and affordable financial products and services in a socially responsible manner. Our credit union adheres to the highest ethical standards of the banking industry, while we maintain financial security and provide our employees with gainful and secure employment.

What it reported doing in 2025

Maintenance of members' share, deposit and loan accounts.

Operating model

Revenue model
Earned-program. 81% 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: 71
  • Accountability: 95
  • Sustainability: 57
  • Growth: 100

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; 64th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • 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; 64th 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: 8.4%; rating input score 54; 54th percentile among comparable filings
  • Total-asset coverage ratio: 19.23; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0.94; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 8.2%; rating input score 34; 34th percentile among comparable filings

Growth

  • Program expense growth: 4.9% per year; rating input score 100; 39th percentile among comparable filings
  • Revenue growth: 4.3% per year; rating input score 100; 35th percentile among comparable filings
  • Asset growth: 5.9% per year; rating input score 100; 41st percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 10 of 10 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $15.5M in reported program spending
  • Leadership: top reported pay $295K · 17 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $115K reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 16 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • 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.

  • Review — Sustainability: Operating margin scored 54/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.
  • Moderate — Sustainability: Officer compensation ratio scored 34/100.