Loc Credit Union

Nonprofit profile at a glance

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

21 people listed

STEPHEN P GRECH (PRESIDENT/CEO): $344,037 total reported compensation
JONATHON ELLIOTT (SENIOR EVP): $261,067 total reported compensation
CHRISTENA KOESTER (EVP OPERATIONS AND TECHNOLOGY): $242,524 total reported compensation

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

We offer a committment to our members to provide quality financial services in a friendly manner with sound professional leadership.

Provide 14,142 loans including vehicle, mortgages, home equity, commercial/business, unsecured, and credit cards totaling $254,807,097.

Revenue model: Earned-program. 79% 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 available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Pass
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
Foreign activity oversight: Limited
Grant itemization coverage: Limited
Major donor itemization: Limited
Related-party transparency: Limited

Independent voting board: 100%; rating input score 100; 66th 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

Operating margin: 17.1%; rating input score 79; 79th percentile among comparable filings
Total-asset coverage ratio: 24.2; rating input score 98; 98th percentile among comparable filings
Liabilities to assets ratio: 0.92; rating input score 9; 9th percentile among comparable filings
Officer compensation ratio: 10.4%; rating input score 19; 19th percentile among comparable filings

Program expense growth: Limited
Revenue growth: 16.3% per year; rating input score 100; 88th percentile among comparable filings
Asset growth: 15% per year; rating input score 100; 81st percentile among comparable filings

Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
Governance: 11 of 11 board members independent · 8 of 9 filing controls reported
Programs: 3 filed program accomplishments
Leadership: top reported pay $344K · 21 people listed · 4 of 6 pay-setting controls reported
Highest-paid contractors: 5 contractors listed · $2.4M reported
Consistency: 12 of 12 current checks pass
Schedules: 4 filed schedules · includes executive pay
Filing history: 14 filing years from 2010 to 2024
Contacts: How to reach this organization
Money network: 14 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.

Signals prioritize questions for review. They are not findings of misconduct.

Review — Accountability: Governance controls: Form 990 shared with the board not reported.
High — Sustainability: Liabilities to assets ratio scored 9/100.
High — Sustainability: Officer compensation ratio scored 19/100.