St Jeans Credit Union

EIN: 041801520

Salem, MA

Total Revenue
$19,422,313
Total Expenses
$17,730,468
Total Assets
$378,327,787
Net Assets
$31,074,843
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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
1910
Legal Domicile
MA
Principal Officer
C DAVID SURFACE
Phone
7815925420
Tax Period
2024-01-01 to 2024-12-31

St Jeans Credit Union, founded in 1910, is a mid-sized nonprofit that reported $19.4M in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $17.7M left a modest 9% surplus.

Mission

ST. JEAN'S CREDIT UNION (THE "CREDIT UNION") IS A STATE-CHARTERED CREDIT UNION. ITS PRIMARY BUSINESS IS THE ACCEPTANCE OF DEPOSITS AND THE MAKING OF LOANS TO MEMBERS WHO LIVE OR WORK IN IN THE ESSEX, MIDDLESEX, AND SUFFOLK COUNTIES OF THE COMMONWEALTH OF MASSACHUSETTS, RETIREES OF THE CITY OF REVERE & THE TOWN OF WINTHROP, MASSACHUSETTS, THE EMPLOYEES OF H.P. HOOD LLC, AND MEMBERS' IMMEDIATE FAMILY, DEFINED AS SPOUSE, SON, DAUGHTER, MOTHER, FATHER, SISTER, OR BROTHER.

Program Service Accomplishments

Program 1

THE MAINTENANCE OF MEMBER ACCOUNTS AND PAYMENT OF DIVIDENDS THEREON. THE CREDIT UNION MAINTAINS 34,764 MEMBER ACCOUNTS AS OF THE CALENDAR YEAR-END.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $15,507,299
Investment Income $2,843,454
Other Revenue $1,071,560
TOTAL REVENUE $19,422,313

Expense Breakdown

Grants Paid $90,268
Salaries & Benefits $6,262,001
Fundraising Expenses $0
Other Expenses $11,378,199
TOTAL EXPENSES $17,730,468

Year-over-Year Comparison

2024 2023 Change
Revenue $19,422,313 $17,647,270 +0.1%
Expenses $17,730,468 $15,245,944 +0.2%
Net Income $1,691,845 $2,401,326 -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

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Governance

Voting Members
12
Independent Members
11
Employees
84
Volunteers
12

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
5
$453,266
Total Directors
12
$453,266
Key Employees
2
$418,715
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
C David Surface President/CEO 40.0
Officer Director
$411,130 $42,136 $453,266
Kathleen Donahue Executive Vice President 40.0
Key Emp
$182,907 $38,886 $221,793
Stephen Pedro CFO 40.0
Key Emp
$160,980 $35,942 $196,922
James Metcalf VP Consumer Lending 40.0
Highest
$147,700 $22,555 $170,255
Christopher Nardone Chief Lending Officer 40.0
Highest
$136,520 $32,372 $168,892
Aline PAvao Dir of Human Resources 40.0
Highest
$129,500 $32,078 $161,578
Kathryn MacDonald VP of Compliance 40.0
Highest
$131,240 $25,077 $156,317
Nicole Cokorogianis VP IT 40.0
Highest
$133,499 $19,968 $153,467
Ira Novoselsky Treasurer/Clerk/director 2.0
Officer Director
$0 $0 $0
Lawrence Rausch Director 2.0
Director
$0 $0 $0
Cheryl Webster Director 2.0
Director
$0 $0 $0
Stephen Salvo Director 2.0
Director
$0 $0 $0
Steven Walsh Chairman 4.0
Officer Director
$0 $0 $0
Paul Amirault 1st Vice Chairman 2.0
Officer Director
$0 $0 $0
Timothy Shea 2nd Vice Chairman 2.0
Officer Director
$0 $0 $0
Shawn Newton Director 2.0
Director
$0 $0 $0
Joy Livramento-Bryant Director 2.0
Director
$0 $0 $0
George Anzuoni Director 2.0
Director
$0 $0 $0
Alejandra Kough Director 2.0
Director
$0 $0 $0
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
2025 No data No data No data No data
2024 $19,422,313 $17,730,468 $378,327,787 $1,691,845
2023 $17,647,270 $15,245,944 $367,484,676 $2,401,326
2022 $12,416,891 $10,382,805 $334,286,442 $2,034,086
2021 $11,808,191 $10,403,697 $315,403,428 $1,404,494
2020 $12,139,021 $11,268,248 $300,448,236 $870,773
2019 $13,270,557 $11,105,079 $269,987,626 $2,165,478
2018 $10,712,957 $9,482,386 $248,810,388 $1,230,571
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