Security Credit Union
Nonprofit profile at a glance
- EIN
- 381514946
- IRS 990 coverage
- 2011–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- Grand Blanc, MI, US
- Phone
- 810-235-2322
- Rating confidence
- Limited
Reported finances
- Revenue
- $40,160,457
- Expenses
- $36,856,950
- Assets
- $637,849,652
- Liabilities
- $587,356,323
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
14 people listed
Executive titles in this filing
- JAY YAX (PRESIDENT AND CEO AS OF 7/31/24)
- CHRISTOPHER ESTES (PRESIDENT AND CEO THRU 7/30/24)
Highest reported compensation
- CHRISTOPHER ESTES (PRESIDENT AND CEO THRU 7/30/24): $910,772 total reported compensation
- JAY YAX (PRESIDENT AND CEO AS OF 7/31/24): $409,483 total reported compensation
- HEIDI SCHWARZ (SENIOR VP/CFO): $254,619 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Membership benefits you!
What it reported doing in 2024
Offer automated teller machines, wire transfers, money orders, home banking, mobile banking, and various insurance programs.
Operating model
- Revenue model
- Earned-program. 95% 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: 66
- Accountability: 95
- Sustainability: 63
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 90%; rating input score 90; 3rd 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: 68.1%; rating input score 68; 14th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
- Governance controls: 8 of 9 controls in place; rating input score 89
- 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: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 8.2%; rating input score 63; 63rd percentile among comparable filings
- Total-asset coverage ratio: 17.31; rating input score 95; 95th percentile among comparable filings
- Liabilities to assets ratio: 0.92; rating input score 9; 9th percentile among comparable filings
- Officer compensation ratio: 7.2%; rating input score 35; 35th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 5.9% per year; rating input score 100; 51st percentile among comparable filings
- Asset growth: 5.2% per year; rating input score 100; 37th percentile among comparable filings
Details
- What they do: 3 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 6 of 6 board members independent · 8 of 9 filing controls reported
- Programs: 3 filed program accomplishments
- Leadership: top reported pay $911K · 14 people listed · 2 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $8.5M reported
- Consistency: 11 of 12 current checks pass · 1 finding to review
- Schedules: 5 filed schedules · includes grants and executive pay
- Filing history: 14 filing years from 2011 to 2024
- Contacts: How to reach this organization
- Money network: 14 filed money-flow records
- Related organizations: 4 filed related-organization links
- 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.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- Review — Accountability: Governance controls: Form 990 shared with the board not reported.
- High — Sustainability: Liabilities to assets ratio scored 9/100.
- Moderate — Sustainability: Officer compensation ratio scored 35/100.