Members Credit Union

Nonprofit profile at a glance

EIN
750899745
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Cleburne, TX, USA
Phone
8176414031
Rating confidence
Limited

Official website

Reported finances

Revenue
$6,561,648
Expenses
$5,493,852
Assets
$103,536,464
Liabilities
$92,027,721

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

Leadership & pay

14 people listed

Executive titles in this filing

  • CHRIS COOKE (PRESIDENT)
  • CLEVE WEYENBERG JR (VICE PRESIDENT)
  • PAUL T ELKINS (CEO/PRESIDENT)

Highest reported compensation

  • PAUL T ELKINS (CEO/PRESIDENT): $227,313 total reported compensation
  • TERESA LECK (VP OF OPERATIONS): $175,373 total reported compensation
  • ROXANNE THOMAS (VP OF ADMINISTRATION): $133,863 total reported compensation

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

Overview

Mission

Our commitment is to exceed your service expectations while caring for your financial needs.

What it reported doing in 2024

In 2024, mcu's assets increased from $97.5 million to $103.2 million, deposits increased from $87.1 million to $92 million, loans increased from $57.1 million to $60.2 million and the number of members served increased from 8,403 to 8,593. Mcu's capital remains strong at 11.15%.

Operating model

Revenue model
Earned-program. 77% 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: 82
  • Sustainability: 65
  • 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; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • 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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 16.3%; rating input score 72; 72nd percentile among comparable filings
  • Total-asset coverage ratio: 18.85; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0.89; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 14%; rating input score 20; 20th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 4.1% per year; rating input score 100; 35th percentile among comparable filings
  • Asset growth: 4.7% per year; rating input score 100; 33rd percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 9 of 9 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $227K · 14 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $402K reported
  • Consistency: 11 of 11 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 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 — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.
  • High — Sustainability: Officer compensation ratio scored 20/100.