FIVE COUNTY CREDIT UNION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1956

Legal Domicile

Principal Officer

JULIE A MARQUIS

Phone

2074433528

Tax Period

2024-01-01 to 2024-12-31

FIVE COUNTY CREDIT UNION, founded in 1956, is a mid-sized nonprofit that reported $26.2M in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $24.0M left a modest 8% surplus.

Mission

DELIVERING TRUE CONVENIENCE THROUGH EXTENDED HOURS, MODERN & TRADITIONAL BANKING SERVICES AND TRUSTED SOLUTIONS.

Program Service Accomplishments

Program 1

FIVE COUNTY CREDIT UNION'S FIELD OF MEMBERSHIP INCLUDES PERSONS WHO LIVE OR WORK IN THE COUNTIES OF ANDROSCOGGIN, CUMBERLAND, LINCOLN, KENNEBEC, SAGADAHOC, WALDO, SOMERSET, AND KNOX, MAINE, ALL...

FIVE COUNTY CREDIT UNION'S FIELD OF MEMBERSHIP INCLUDES PERSONS WHO LIVE OR WORK IN THE COUNTIES OF ANDROSCOGGIN, CUMBERLAND, LINCOLN, KENNEBEC, SAGADAHOC, WALDO, SOMERSET, AND KNOX, MAINE, ALL ACTIVE AND RETIRED EMPLOYEES OF BATH IRON WORKS, AND RELATIVES OF ELIGIBLE MEMBERS. THE CREDIT UNION'S PRIMARY ACTIVITY IS PROVIDING LOANS TO MEMBERS AND THEIR FAMILIES. AS OF 12/31/24, FIVE COUNTY CREDIT UNION SERVES 30,884 MEMBERS AND HAS TOTAL DEPOSITS OF $341,307,115. IN ADDITION, THE CREDIT UNION HAS 24,312 OUTSTANDING LOANS TO MEMBERS WITH A TOTAL BALANCE OF $289,749,883 AT 12/31/2024.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $20,056,667

Investment Income $2,556,966

Other Revenue $3,601,525

TOTAL REVENUE $26,215,158

Expense Breakdown

Grants Paid $0

Salaries & Benefits $12,582,000

Fundraising Expenses $0

Other Expenses $8,327,077

TOTAL EXPENSES $23,993,228

Year-over-Year Comparison

	2024	2023	Change
Revenue	$26,215,158	$23,598,688	+0.1%
Expenses	$23,993,228	$20,551,841	+0.2%
Net Income	$2,221,930	$3,046,847	-0.3%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✓ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

158

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,005,689

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT BREWER	CHAIRMAN	1.00	Officer Director	$0	$0	$0
MERLIN SUGGS	VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
MONA FAULTER	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
A BOSICA	DIRECTOR	1.00	Director	$0	$0	$0
PETER DECOURCY	DIRECTOR	1.00	Director	$0	$0	$0
SAM MAY	DIRECTOR	1.00	Director	$0	$0	$0
BRUCE WILSON	DIRECTOR	1.00	Director	$0	$0	$0
JULIE A MARQUIS	PRESIDENT & CEO	40.00	Officer	$598,847	$60,486	$659,333
KENNETH H STOCKFORD	SVP FINANCE & TECHNOLOGY/C	40.00	Officer	$300,224	$46,132	$346,356
TERRI RYAN	SVP ADMINISTRATION	40.00	Highest	$689,488	$41,636	$731,124
MICHAEL FOLEY	SVP SUPPORT SERVICES/CGO	40.00	Highest	$274,361	$45,427	$319,788
LYNN FARMER	SVP HUMAN RESOURCES	40.00	Highest	$188,478	$28,792	$217,270
JENNIFER ANDERSEN	SVP RETAIL SERVICES/COO	40.00	Highest	$242,401	$32,184	$274,585
SCOTT BUDDE	SVP STRATEGIC DEVELOPMENT	40.00	Highest	$112,086	$1,684	$113,770

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$26,215,158	$23,993,228	$384,217,441	$2,221,930
2023	$23,598,688	$20,551,841	$358,165,631	$3,046,847
2022	$19,031,105	$17,374,511	$368,273,887	$1,656,594
2021	$16,981,136	$14,732,930	$349,962,070	$2,248,206
2020	$17,667,578	$16,373,196	$311,529,938	$1,294,382
2019	$17,621,394	$16,248,280	$261,463,831	$1,373,114
2018	$17,087,144	$14,844,597	$244,228,721	$2,242,547