Members Heritage Credit Union
Legal name: Members Heritage Credit Union Inc
Nonprofit profile at a glance
- EIN
- 610575996
- IRS 990 coverage
- 2016–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- Lexington, KY, USA
- Phone
- 859.259.3466
- Rating confidence
- Limited
Reported finances
- Revenue
- $31,376,384
- Expenses
- $26,651,585
- Assets
- $535,937,395
- Liabilities
- $469,599,157
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
11 people listed
Executive titles in this filing
- PATRICK H FERRY (PRESIDENT)
Highest reported compensation
- PATRICK H FERRY (PRESIDENT): $339,468 total reported compensation
- SHERRI BLAKEMAN (EXECUTIVE VP): $195,833 total reported compensation
- JEFFREY MARSHALL (CONTROLLER): $183,092 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Members Heritage is a not-for-profit cooperative association with a “people helping people” philosophy; its first responsibility is to its members, providing a safe place to save and borrow at reasonable rates, and exists to benefit members—not to make a profit. In 2015, we expanded our membership to include people who live, work, worship, attend school or have family members in the following counties: Anderson, Bath, Bourbon, Boyle, Clark, Estill, Fayette, Franklin, Garrard, Harrison, Jessamine, Lincoln, Madison, Menifee, Mercer, Montgomery, Morgan, Nicholas, Powell, Rowan, Scott and Woodford. Our name then became Members Heritage Credit Union. Our Mission Members Heritage is a not-for-profit cooperative association with a “people helping people” philosophy. We believe our first responsibility is to our members. As a member, you are also an owner and have a voice in the operation...
What it reported doing in 2024
Provide financial services to members.
Operating model
- 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 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: 66
- Accountability: 100
- Sustainability: 72
- 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; 62nd percentile among comparable filings
- Pay-setting controls: 1 of 6 controls in place; rating input score 17
- Compensation committee: Missing
- 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; 66th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- 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: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 15.1%; rating input score 76; 76th percentile among comparable filings
- Total-asset coverage ratio: 20.11; rating input score 96; 96th percentile among comparable filings
- Liabilities to assets ratio: 0.88; rating input score 11; 11th percentile among comparable filings
- Officer compensation ratio: 4.2%; rating input score 58; 58th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 8.4% per year; rating input score 100; 67th percentile among comparable filings
- Asset growth: 5.7% per year; rating input score 100; 40th percentile among comparable filings
Details
- What they do: 1 operating location identified
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 5 of 5 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $339K · 11 people listed · 1 of 6 pay-setting controls reported
- Highest-paid contractors: 4 contractors listed · $1M reported
- Consistency: 11 of 11 current checks pass
- Schedules: 4 filed schedules · includes executive pay
- Filing history: 8 filing years from 2016 to 2024
- Contacts: How to reach this organization
- Money network: 6 filed money-flow records
- Related organizations: 1 filed related-organization link
- 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: Liabilities to assets ratio scored 11/100.
- Review — Sustainability: Officer compensation ratio scored 58/100.