Public Employees Credit Union
Nonprofit profile at a glance
- EIN
- 741196893
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Austin, TX, USA
- Phone
- 5124741955
- Rating
- 45
- Verdict
- MIXED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $17,903,967
- Expenses
- $12,294,598
- Assets
- $429,849,537
- Liabilities
- $377,800,469
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
14 people listed
Executive titles in this filing
- Gary Whitcomb (President/CEO)
- Scott Murphy (Vice President - Marketing)
- James Patterson (Vice President - Operations)
Highest reported compensation
- Gary Whitcomb (President/CEO): $381,898 total reported compensation
- Marc Broddrick (SVP/CFO): $215,783 total reported compensation
- Merrily Porter (General Counsel): $174,410 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Public Employees Credit Union is a cooperative financial institution whose mission is to provide quality financial services and products at the greatest value to our members in a professional and personal manner while maintaining financial strength and stability.
What it reported doing in 2024
Public Employees Credit Union provides a wide range of secured and unsecured loans to its members for consumable items, such as autos, motorcycles, RVs, home equity loans, mortgages, credit cards, signature loans and line-of-credit and share or certificate secured loans. Additionally, credit insurance is available on all these loans. GAP (Guaranteed Asset Protection) insurance is a product that is likewise offered on some of our secured loans.
Operating model
- Revenue model
- Other-operating. 71% 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
MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 0
- Transparency & Controls: 71
- Accountability: 86
- Sustainability: 74
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 0%; rating input score 0
- Program expense ratio: 0%; rating input score 0
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 2 of 6 controls in place; rating input score 33
- Compensation committee: Missing
- 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: 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: 6 of 9 controls in place; rating input score 67
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- 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: Fail
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 31.3%; rating input score 89; 89th percentile among comparable filings
- Total-asset coverage ratio: 34.96; rating input score 99; 99th percentile among comparable filings
- Liabilities to assets ratio: 0.88; rating input score 11; 11th percentile among comparable filings
- Officer compensation ratio: 10.9%; rating input score 17; 17th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 4.7% per year; rating input score 100; 41st percentile among comparable filings
- Asset growth: 4.1% per year; rating input score 100; 29th percentile among comparable filings
Details
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 7 of 7 board members independent · 6 of 9 filing controls reported
- Programs: 3 filed program accomplishments
- Leadership: top reported pay $382K · 14 people listed · 2 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $1.7M reported
- Consistency: 12 of 13 current checks pass · 1 finding to review
- Schedules: 3 filed schedules · includes executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 7 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 — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- Review — Accountability: Governance controls: 3 of 9 not reported.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
- High — Sustainability: Liabilities to assets ratio scored 11/100.
- High — Sustainability: Officer compensation ratio scored 17/100.