Membersfirst Credit Union

Nonprofit profile at a glance

EIN
581489204
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Decatur, GA, USA
Phone
4043891239
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Credit Unions

Official website

Reported finances

Revenue
$24,599,650
Expenses
$21,227,210
Assets
$418,645,559
Liabilities
$373,061,771

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

Leadership & pay

21 people listed

Executive titles in this filing

  • TERRY HARDY (PRESIDENT/CEO)
  • JAMES COLTRANE (VICE PRESIDENT/CFO)

Highest reported compensation

  • TERRY HARDY (PRESIDENT/CEO): $370,770 total reported compensation
  • GWEN HARDY (SENIOR VP): $303,452 total reported compensation
  • WILLIAM LAUGHRIDGE (VP OF IT): $165,356 total reported compensation

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

Overview

Mission

To provide thrift savings and borrowings to members of an owned cooperative

What it reported doing in 2024

To provide thrift savings and borrowings to members.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 67% for direct work, 0% for affiliated organizations, and 33% for member benefits.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 60
  • Accountability: 82
  • Sustainability: 69
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 88.7%; rating input score 89
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • 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: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 13.7%; rating input score 74; 74th percentile among comparable filings
  • Total-asset coverage ratio: 19.72; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.89; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 6.8%; rating input score 37; 37th percentile among comparable filings

Growth

  • Program expense growth: 23.2% per year; rating input score 100; 92nd percentile among comparable filings
  • Revenue growth: 10.1% per year; rating input score 100; 74th percentile among comparable filings
  • Asset growth: 11.3% per year; rating input score 100; 70th percentile among comparable filings

Details

  • Where the money goes: 88.7% of revenue deployed · 100% of spending went to programs
  • Governance: 11 of 11 board members independent · 5 of 9 filing controls reported
  • Programs: 2 filed program accomplishments
  • Leadership: top reported pay $371K · 21 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 26 of 26 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: 7 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.
  • Moderate — Sustainability: Officer compensation ratio scored 37/100.