Telco Plus Credit Union

Nonprofit profile at a glance

EIN
750853180
IRS 990 coverage
2010–2020
Forms available
Form 990 2020
Location
Longview, TX, USA
Phone
9037535588
Rating
53
Verdict
MIXED
Rating confidence
Moderate
Sector
Credit Unions

Official website

Reported finances

Revenue
$3,664,534
Expenses
$2,586,920
Assets
$73,610,522
Liabilities
$62,590,715

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

9 people listed

Highest reported compensation

  • Board Member 3 (Treasurer): $3,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Not-for-profit cooperative provider of financial services to credit union members/owners.

What it reported doing in 2020

Share Accounts: Telco Plus Credit Union offers a variety of share accounts, including savings, CD's, TUTMA, IRA's, special savings, member money fund savings, Christmas and vacation club accounts. Telco Plus Credit Union maintained and paid dividends on over 14,503 accounts in 2019. The credit union provides all members with access via ATM's, Online Banking, Text & Mobile Banking, Audio Response, and in-person financial service representatives. Free financial education fairs are offered to local schools. Our accounts are offered free online access to educational games and activities geared to various age groups. Telco Plus supplies and supports 2 ATMs for member usage. Shares are insured through NCUSIF.

Operating model

Revenue model
Other-operating. 96% 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: 90
  • Accountability: 95
  • Sustainability: 78
  • 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: Limited
  • 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; 64th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: 29.4%; rating input score 82; 82nd percentile among comparable filings
  • Total-asset coverage ratio: 28.45; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.85; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 0.1%; rating input score 84; 84th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 0.6% per year; rating input score 100; 21st percentile among comparable filings
  • Asset growth: 1.1% per year; rating input score 100; 22nd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 9 of 9 board members independent · 7 of 8 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $3K · 9 people listed
  • Highest-paid contractors: 1 contractor listed · $142K reported
  • Consistency: 11 of 12 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 11 filing years from 2010 to 2020
  • Contacts: How to reach this organization
  • Money network: 8 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum 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 10/100.