North East Texas Credit Union

Nonprofit profile at a glance

EIN
750830371
IRS 990 coverage
2010–2020
Forms available
Form 990 2020
Location
Lone Star, TX, USA
Phone
9036562576
Rating confidence
Limited

Official website

Reported finances

Revenue
$9,089,729
Expenses
$8,312,195
Assets
$193,125,846
Liabilities
$172,860,872

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • BARBARA KAY STEWART (PRESIDENT/CEO/SEC&TREAS (AS OF 6/29/2020))
  • KEITHA NILSSON (EXECUTIVE VICE PRESIDENT)
  • BRIAN HUGHES (SENIOR VICE PRESIDENT)

Highest reported compensation

  • BARBARA KAY STEWART (PRESIDENT/CEO/SEC&TREAS (AS OF 6/29/2020)): $232,021 total reported compensation
  • KEITHA NILSSON (EXECUTIVE VICE PRESIDENT): $160,698 total reported compensation
  • EEARL MUELLER (IT ADMINISTRATOR): $127,369 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Financial cooperative providing loans/services to credit union members.

What it reported doing in 2020

Netcu continuously researches and invest in new technology to better serve its members. Net teller internet banking offers online account history inquiries, statement retrieval, current transaction history, on-line transfers, loan payments, and stop payments. Text banking allows members to check their financial status even if they don't have a smart phone or web enabled device. Mobile deposit allows for the deposit of checks through image. On-line bill payment allows members to pay bills electronically and complete person to person payments. Check images and e-statements are available on-line to members. Our audio response system is a telephone service that allows members access to their cu account from anywhere. We also are equipped to open new accounts and apply for loans through an on-line platform. Netcu utilizes member alerts which are alerts sent via text and email allowing netcu to keep members up to date on data breaches, weather related closings, or other emergency information. Mobile wallet technology allows members the ability to complete transactions with their smartphones. Netcu added advanced card controls for debit cards in 2020.

Operating model

Revenue model
Earned-program. 86% 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: 82
  • Accountability: 88
  • Sustainability: 55
  • 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: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • 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: 100%; rating input score 100; 71st percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 80%; rating input score 80; 14th percentile among comparable filings
  • Governance controls: 8 of 8 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: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 8.6%; rating input score 46; 46th percentile among comparable filings
  • Total-asset coverage ratio: 23.23; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.9; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 7.7%; rating input score 36; 36th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 1.4% per year; rating input score 100; 26th percentile among comparable filings
  • Asset growth: 4.5% per year; rating input score 100; 39th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 4 of 5 board members independent · 8 of 8 filing controls reported
  • Programs: 4 filed program accomplishments
  • Leadership: top reported pay $232K · 9 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $1.5M reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 6 filed schedules · includes grants and executive pay
  • Filing history: 11 filing years from 2010 to 2020
  • Contacts: How to reach this organization
  • Money network: 7 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.

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.

  • Moderate — Sustainability: Operating margin scored 46/100.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.
  • Moderate — Sustainability: Officer compensation ratio scored 36/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.