One Credit Union

Nonprofit profile at a glance

EIN
036008252
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Springfield, VT, USA
Phone
8028864228
Rating
86
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$15,425,844
Expenses
$15,723,923
Assets
$259,160,000
Liabilities
$244,055,244

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

Leadership & pay

11 people listed

Executive titles in this filing

  • BRETT A SMITH (CEO)

Highest reported compensation

  • BRETT A SMITH (CEO): $564,250 total reported compensation
  • DAVID MACLEAN (CFO): $387,212 total reported compensation
  • NATHAN D COBB (COO): $342,676 total reported compensation

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

Overview

Mission

The purpose of this credit union is to promote thrift among its members by affording them an opportunity for accumulating their savings, to create for them a source of credit for provident or productive purposes at a reasonable rate of interest, and to provide the opportunity for the members to use and control their money for their mutual benefit.

Operating model

Revenue model
Other-operating. 89% of the money available for current operations came from other operating revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 79% for direct work, and 21% for member benefits.

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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 82
  • Accountability: 91
  • Sustainability: 43
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • 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: 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; 66th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -1.9%; rating input score 24; 24th percentile among comparable filings
  • Total-asset coverage ratio: 16.48; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0.94; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 10.1%; rating input score 20; 20th percentile among comparable filings

Growth

  • Program expense growth: 46.2% per year; rating input score 100; 98th percentile among comparable filings
  • Revenue growth: 7.4% per year; rating input score 100; 62nd percentile among comparable filings
  • Asset growth: 6.3% per year; rating input score 100; 44th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 7 of 7 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $15.7M in reported program spending
  • Leadership: top reported pay $564K · 11 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $3.1M reported
  • Consistency: 41 of 41 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • 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.

  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Operating margin scored 24/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.
  • High — Sustainability: Officer compensation ratio scored 20/100.