Relyon Credit Union

Nonprofit profile at a glance

EIN
750926100
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Kaufman, TX, USA
Phone
2143573328
Rating confidence
Limited

Official website

Reported finances

Revenue
$4,300,329
Expenses
$9,435,831
Assets
$0
Liabilities
$0

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

Leadership & pay

10 people listed

Executive titles in this filing

  • SARAH SPOONER (PRESIDENT/CEO & DIRECTOR)

Highest reported compensation

  • SARAH SPOONER (PRESIDENT/CEO & DIRECTOR): $274,932 total reported compensation
  • NICOLLE KOVACS (EVP/CFO): $142,332 total reported compensation

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

Overview

Mission

A cooperative committed to uncommon and kindhearted banking, incorporated under the provisions of the Texas credit union act, organized for the purpose of improving our members' lives by providing financial opportunities through services, access to credit sources at fair reasonable interest rates, and saving products at competitive interest rates to improve their financial well-being.

What it reported doing in 2024

Relyon credit union provides for a variety of savings and checkings accounts: including checking, regular savings and money markets. The regular share account has a minimum $5.00 account balance with a one time $10.00 membership fee. These accounts pay a monthly dividend. As of august 31, 2024 relyon credit union had approximately 7,500 members.

Operating model

Revenue model
Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
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: 76
  • Accountability: 83
  • Sustainability: 7
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 88.9%; rating input score 89; 3rd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • 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: 85.7%; rating input score 86; 17th 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -119.4%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 4.4%; rating input score 58; 58th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 7.2% per year; rating input score 100; 56th percentile among comparable filings
  • Asset growth: -0.1% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 6 of 7 board members independent · 7 of 9 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $275K · 10 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 8 of 8 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Sustainability: Officer compensation ratio scored 58/100.