Union Square Credit Union

Nonprofit profile at a glance

EIN
750971964
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Wichita Falls, TX, USA
Phone
9407208000
Rating confidence
Limited

Official website

Reported finances

Revenue
$47,979,281
Expenses
$51,072,086
Assets
$590,203,667
Liabilities
$545,578,783

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

Leadership & pay

17 people listed

Executive titles in this filing

  • PATRICK MURRAY (PRESIDENT/CEO)
  • MEGAN MAGANA (SVP PRESIDENT HUMAN RESOURCES)
  • JEFFERY GLADU (VICE PRESIDENT TECHNOLOGY)

Highest reported compensation

  • PATRICK MURRAY (PRESIDENT/CEO): $310,703 total reported compensation
  • SCOTT FLINN (CHIEF LENDING OFFICER): $222,782 total reported compensation
  • JOE GUIDRY (CHIEF INFORMATION OFFICER): $197,574 total reported compensation

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

Overview

Mission

To serve financial needs and dreams.

What it reported doing in 2024

To serve the financial needs and dreams of the members. Union square credit union core values include member service and sensitivity, ethical and legal behavior, diversity and equal opportunity, sound, strong business judgment, and friendly and knowledgeable staff. With these values, union square credit union's vision is to be the financial center of choice.

Operating model

Revenue model
Earned-program. 78% 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: 75
  • Accountability: 91
  • Sustainability: 42
  • Growth: 60

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: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • 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: 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: -6.4%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 11.56; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.92; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 3.7%; rating input score 62; 62nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 16.2% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: 8.6% per year; rating input score 100; 58th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 6 of 6 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $311K · 17 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $4.7M reported
  • Consistency: 10 of 11 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 9 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 19 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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 — Sustainability: Operating margin scored 14/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.