Natco Credit Union
Nonprofit profile at a glance
- EIN
- 351047478
- IRS 990 coverage
- 2010–2025
- Forms available
- Form 990 2025
- Location
- Richmond, IN, USA
- Phone
- 7659622561
- Rating
- 81
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Credit Unions
Reported finances
- Revenue
- $16,253,678
- Expenses
- $14,330,038
- Assets
- $152,020,124
- Liabilities
- $128,234,165
Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
8 people listed
Executive titles in this filing
- CYNTHIA DUKE (CEO/PRESIDENT)
Highest reported compensation
- CYNTHIA DUKE (CEO/PRESIDENT): $1,138,081 total reported compensation
- SHERRY DILLON (ADMINISTRATIVE DIRECTOR): $124,777 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Cooperative financial institution.
What it reported doing in 2025
Providing loan and deposit services to credit union members
Operating model
- Revenue model
- Earned-program. 94% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and liabilities are high compared with assets.
Rating breakdown
- Financial Efficiency: 79
- Transparency & Controls: 82
- Accountability: 86
- Sustainability: 59
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 82.8%; rating input score 83
- Program expense ratio: 100%; rating input score 100
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th 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: Missing
- Written employment contract: Pass
- 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; 64th percentile among comparable filings
- Governance controls: 6 of 9 controls in place; rating input score 67
- 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: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 11.8%; rating input score 62; 62nd percentile among comparable filings
- Total-asset coverage ratio: 10.61; rating input score 86; 86th percentile among comparable filings
- Liabilities to assets ratio: 0.84; rating input score 10; 10th percentile among comparable filings
- Officer compensation ratio: 8.8%; rating input score 30; 30th percentile among comparable filings
Growth
- Program expense growth: 18.5% per year; rating input score 100; 86th percentile among comparable filings
- Revenue growth: 9.4% per year; rating input score 100; 70th percentile among comparable filings
- Asset growth: 7.9% per year; rating input score 100; 55th percentile among comparable filings
Details
- Where the money goes: 82.8% of revenue deployed · 100% of spending went to programs
- Governance: 6 of 6 board members independent · 6 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $14.3M in reported program spending
- Leadership: top reported pay $1.1M · 8 people listed · 4 of 6 pay-setting controls reported
- Consistency: 25 of 25 current checks pass
- Schedules: 4 filed schedules · includes executive pay
- Filing history: 16 filing years from 2010 to 2025
- Contacts: How to reach this organization
- Money network: 17 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.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- Review — Accountability: Governance controls: 2 of 8 not reported.
- High — Sustainability: Liabilities to assets ratio scored 10/100.
- Moderate — Sustainability: Officer compensation ratio scored 30/100.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.