Municipal Credit Union

Nonprofit profile at a glance

EIN
135261470
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2122383334
Rating confidence
Limited

Official website

Reported finances

Revenue
$302,504,633
Expenses
$248,802,764
Assets
$4,618,601,809
Liabilities
$4,164,978,464

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

Leadership & pay

32 people listed

Executive titles in this filing

  • GEORGE CHACON (PRESIDENT & EXEC DIRECTOR, MCU FOUNDATION)
  • KYLE MARKLAND (CHIEF EXECUTIVE OFFICER)
  • ALEKSANDER P POWIETRZYNSKI (VICE PRESIDENT, LEGAL & COMPLIANCE)
  • ANTHONY MARANO (VICE PRESIDENT, HR & LABOR RELATIONS)
  • DANA MARIE MARSALISI (VICE PRESIDENT, FIN. CRIMES & INTELLIGENCE)
  • HILARY GEWAIN (VICE PRESIDENT, ACCOUNTING)

Highest reported compensation

  • KYLE MARKLAND (CHIEF EXECUTIVE OFFICER): $1,698,182 total reported compensation
  • FRANCISCO MADEIRA (CHIEF FINANCIAL OFFICER): $475,875 total reported compensation
  • TONI-ANN SFORZA (CHIEF OPERATING OFFICER): $441,529 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 help hard working new yorkers build better tomorrows.

What it reported doing in 2024

Founded in 1916 for New York city municipal workers, municipal credit union (the credit union) is the oldest credit union in New York state and the largest metro New York credit union offering a wide array of financial services to its members. Mcu is chartered under New York state banking law. The credit union currently provides services to over 631,000 members and manages over $4.6 billion in member assets. Membership is available to individuals who live, work, worship, or attend school in New York city (nyc), individuals who work for New York state (nys) or federal employers, and immediate family members of existing members.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating 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: 88
  • Accountability: 100
  • Sustainability: 73
  • 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; 68th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Pass
    • 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; 77th 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: 17.8%; rating input score 85; 85th percentile among comparable filings
  • Total-asset coverage ratio: 18.56; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.9; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 3.6%; rating input score 30; 30th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 7.2% per year; rating input score 100; 62nd percentile among comparable filings
  • Asset growth: 8.1% per year; rating input score 100; 59th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 7 of 7 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $1.7M · 32 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $322K reported
  • Consistency: 13 of 13 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 25 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.
  • 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 12/100.
  • Moderate — Sustainability: Officer compensation ratio scored 30/100.