QUINCY 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

1937

Legal Domicile

Principal Officer

John Miller

Phone

6174795558

Tax Period

2023-01-01 to 2023-12-31

QUINCY CREDIT UNION, founded in 1937, is a mid-sized nonprofit that reported $31.7M in total revenue in fiscal year 2023. Revenue surged 36% from the prior year, signaling strong growth momentum. The organization ran a surplus of $6.7M, a strong 21% operating margin.

Mission

Provide our members the best financial services possible in order to successfully satisfy their financial needs and requirements.

Program Service Accomplishments

Program 1

Expenses: $7,482,841

Dividends and Insurance paid to and for our members.

Program 2

Expenses: $4,514,300

Loan servicing expenses and outside services.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $24,151,156

Investment Income $6,280,590

Other Revenue $1,308,527

TOTAL REVENUE $31,740,273

Expense Breakdown

Grants Paid $0

Salaries & Benefits $7,976,809

Fundraising Expenses $0

Program Expenses $11,997,141

Other Expenses $9,599,329

TOTAL EXPENSES $25,058,979

Year-over-Year Comparison

	2023	2022	Change
Revenue	$31,740,273	$23,310,386	+0.4%
Expenses	$25,058,979	$18,310,153	+0.4%
Net Income	$6,681,294	$5,000,233	+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

108

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

$852,132

Total Directors

$30,036

Key Employees

$649,454

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
John Miller	CEO	40	Officer Highest	$499,388	$57,732	$557,120
Denise Fillis	CFO / Treasurer	40	Officer	$217,572	$57,256	$274,828
Sean Dunn	CLO	40	Key Emp	$197,139	$44,458	$241,597
Matthew Lindblom	Chief Technology Officer	40	Key Emp	$201,132	$29,496	$230,628
Steven Kunkel	Chief Operations Officer	40	Key Emp	$154,904	$22,325	$177,229
Harold Goodwin	Clerk	5	Officer Director	$10,008	$84	$10,092
William Phelan	Chairman	5	Officer Director	$10,008	$84	$10,092
Stewart Steele	Director	2	Director	$0	$8,928	$8,928
William Barron	Director	2	Director	$0	$84	$84
Michael Hobin	Director	2	Director	$0	$84	$84
Ernest Arienti	Director	2	Director	$0	$84	$84
Paul Keenan	Vice Chairman	2	Director	$0	$84	$84
John Scribi	Director	2	Director	$0	$84	$84
Michael Granahan	Director	2	Director	$0	$84	$84
Robert Hanna	Director	2	Director	$0	$84	$84
John Barber	Director	2	Director	$0	$84	$84
Paul Daley	Director	2	Director	$0	$84	$84
Paul O'Connell	Director	2	Director	$0	$84	$84
Michael Conners	Asst. Treasurer	2	Director	$0	$84	$84

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	No data	No data	No data	No data
2023	$31,740,273	$25,058,979	$712,234,801	$6,681,294
2022	$23,310,386	$18,310,153	$710,026,576	$5,000,233
2021	$20,097,786	$16,041,014	$736,275,717	$4,056,772
2020	$19,697,044	$16,802,152	$669,035,288	$2,894,892
2019	$21,177,523	$17,267,381	$574,972,970	$3,910,142
2018	$19,516,367	$14,986,177	$523,534,591	$4,530,190