Oucu Financial Credit Union Fka Ohio University Credit Union

Nonprofit profile at a glance

EIN
316040060
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Athens, OH, USA
Phone
7405972800
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$31,880,517
Expenses
$29,483,775
Assets
$502,923,943
Liabilities
$451,840,874

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

Leadership & pay

24 people listed

Executive titles in this filing

  • CORY CORRIGAN (CEO)

Highest reported compensation

  • ROMNEY COX (SR FINANCIAL ADVISOR): $792,610 total reported compensation
  • CORY CORRIGAN (CEO): $530,834 total reported compensation
  • JEAN BLAIR (CTO): $316,300 total reported compensation

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

Overview

Mission

See schedule o

What it reported doing in 2024

The oucu financial credit union has provided over 25,000+ members with safety and soundess of their deposits made to us, as shown by growth in deposit balances from the previous year. In addition to having offered our members the safety of their savings, we also have continued to offer a vast array of additional products and services to help promote their financial well-being including first and second mortgages, auto loans, secured and unsecured loans, credit cards, and member business loans. Free seminars to educate our members on such topics as homebuying, ira's, wills & trusts, long-term care insurance, and other financial related topics are another benefit we provide to help ensure members reach their financial goals. We are dedicated to continue offering our members these products and services in the future and upgrade our products and services to best serve them as needed.

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

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. 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: 82
  • Transparency & Controls: 60
  • Accountability: 91
  • Sustainability: 59
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86.7%; rating input score 87
  • 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: 7 of 9 controls in place; rating input score 78
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 7.5%; rating input score 61; 61st percentile among comparable filings
  • Total-asset coverage ratio: 17.06; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0.9; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 12.7%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: 21.6% per year; rating input score 100; 91st percentile among comparable filings
  • Revenue growth: 6.3% per year; rating input score 100; 54th percentile among comparable filings
  • Asset growth: 5.2% per year; rating input score 100; 37th percentile among comparable filings

Details

  • Where the money goes: 86.7% of revenue deployed · 100% of spending went to programs
  • Governance: 9 of 9 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $29.5M in reported program spending
  • Leadership: top reported pay $793K · 24 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 29 of 29 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: 13 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.
  • High — Sustainability: Officer compensation ratio scored 12/100.