CAMBRIDGE, MA
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)HARVARD FEDERAL CREDIT UNION, founded in 1939, is a mid-sized nonprofit that reported $24.9M in total revenue in fiscal year 2023. Revenue fell 54% from the prior year — a significant decline worth monitoring.
HARVARD FEDERAL CREDIT UNION F/K/A HARVARD UNIVERSITY EMPLOYEE CREDIT UNION ASPIRES TO BE A TRUSTED PARTNER IN OUR MEMBERS' FINANCIAL LIVES. WE ADD VALUE TO MEMBERSHIP BY OFFERING THE BEST POSSIBLE PRICE, THE HIGHEST QUALITY PERSONAL SERVICE, AND SINCERE, SOUND ADVICE.THE CREDIT UNION SEEKS TO BE KNOWN AS A COMMUNITY LEADER AND TO DEEPEN ITS LONG STANDING COMMITMENT TO HOUSING ISSUES, GREEN INITIATIVES, FINANCIAL LITERACY AND ACCESS TO CREDIT FOR LOW AND MODERATE INCOME BORROWERS. THE CREDIT UNION WORKS TOWARD TRANSFORMATIONAL GROWTH AND CHANGE WITHOUT RELINQUISHING THE CORE VALUES WE HOLD TODAY. WE ARE A NOT-FOR-PROFIT COOPERATIVE WHICH EXISTS SOLELY FOR THE BEST INTEREST OF OUR MEMBERS. WE VALUE INTEGRITY AND RESPONSIBILITY IN ALL OF OUR ACTIONS. WE STRIVE TO ENHANCE OUR COMMUNITIES AND CREATE SOLUTIONS FOR SOCIAL, ENVIRONMENTAL AND ECONOMIC ISSUES.
HARVARD FEDERAL CREDIT UNION F/K/A HARVARD UNIVERSITY EMPLOYEE CREDIT UNION (THE "CREDIT UNION") IS A CREDIT UNION ORGANIZED UNDER THE PROVISIONS OF THE MASSACHUSETTS CREDIT UNION ACT. PARTICIPATION...
HARVARD FEDERAL CREDIT UNION F/K/A HARVARD UNIVERSITY EMPLOYEE CREDIT UNION (THE "CREDIT UNION") IS A CREDIT UNION ORGANIZED UNDER THE PROVISIONS OF THE MASSACHUSETTS CREDIT UNION ACT. PARTICIPATION IN THE CREDIT UNION IS LIMITED TO THOSE INDIVIDUALS WHO QUALIFY FOR MEMBERSHIP. THE FIELD OF MEMBERSHIP IS DEFINED IN THE CREDIT UNION'S CHARTER AND BYLAWS. THE CREDIT UNION PROVIDES A VARIETY OF FINANCIAL SERVICES TO MEMBERS. ITS PRIMARY LENDING PRODUCTS ARE RESIDENTIAL REAL ESTATE AND CONSUMER LOANS AND ITS PRIMARY SHARE PRODUCTS ARE CHECKING, SAVINGS AND TERM CERTIFICATE ACCOUNTS. THE CREDIT UNION HAS OVER 55,000 MEMBERS. THE MEMBERSHIP IS COMPRISED OF EMPLOYEES, FACULTY, STUDENTS, AND ALUMNI OF HARVARD UNIVERSITY AND ITS AFFILIATED HOSPITALS, INDIVIDUALS THAT LIVE, WORK, WORSHIP OR ATTEND SCHOOL IN AN ELIGIBLE CENSUS TRACT OR INDIVIDUALS THAT ARE MEMBERS OF THE FINANCIAL FITNESS ASSOCIATION.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2023 | 2022 | Change | |
|---|---|---|---|
| Revenue | $24,885,772 | $53,971,563 | -0.5% |
| Expenses | $24,806,832 | $50,624,656 | -0.5% |
| Net Income | $78,940 | $3,346,907 | -1.0% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| JASON LUKE | CHAIR/DIRECTOR | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| KARRIE FORD | VICE CHAIR/DIRECTOR | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| DEE DEE CHEN | VICE CHAIR/DIRECTOR | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| APRIL EDRINGTON | CLERK/DIRECTOR | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| MARY STRAUB | TREASURER/DIRECTOR | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| MARTY RAY | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| HARMAN KAUR | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| MARY ANN O'BRIEN | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| GONZALO SANZ | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| SHAHAR ZIV | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| JOHN LICHTEN | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| CRAIG LEONARD | PRESIDENT & CEO | 40.00 |
Officer
|
$556,250 | $94,820 | $651,070 |
| THOMAS MONTILLI | EVP & CHIEF EXPERIENCE OFF | 40.00 |
Officer
|
$345,962 | $55,587 | $401,549 |
| KATHERINE ARMSTRONG | SVP, CHIEF FINANCIAL OFFICER | 40.00 |
Key Emp
|
$265,133 | $48,104 | $313,237 |
| JOHN DEGNAN | SVP, OPERATIONS | 40.00 |
Key Emp
|
$282,355 | $48,840 | $331,195 |
| HELEN LASKARIS | MORTGAGE LOAN ORIGINATOR | 40.00 |
Highest
|
$216,059 | $25,765 | $241,824 |
| SHARON CUMMINGS | MORTGAGE LOAN ORIGINATOR | 40.00 |
Highest
|
$191,077 | $27,021 | $218,098 |
| TANYA TANARO | VP, EDUCATION & CONSUMER LENDING | 40.00 |
Highest
|
$185,115 | $37,688 | $222,803 |
| MICHAEL LEVINE | MORTGAGE LOAN ORIGINATOR | 40.00 |
Highest
|
$164,638 | $24,613 | $189,251 |
| JAYNE MATTHEWS | MORTGAGE LOAN ORIGINATOR | 40.00 |
Highest
|
$176,648 | $36,713 | $213,361 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | $24,885,772 | $24,806,832 | No data | $78,940 |
| 2023 | $53,971,563 | $50,624,656 | $1,212,810,381 | $3,346,907 |
| 2022 | $44,999,109 | $36,335,706 | $1,145,537,469 | $8,663,403 |
| 2021 | $42,695,601 | $33,579,956 | $1,037,994,144 | $9,115,645 |
| 2020 | $43,073,837 | $35,107,979 | $936,760,234 | $7,965,858 |
| 2019 | $41,742,454 | $34,869,443 | $815,945,301 | $6,873,011 |
| 2018 | $35,466,964 | $28,914,790 | $732,242,446 | $6,552,174 |
Compare HARVARD FEDERAL CREDIT UNION with other nonprofits in Massachusetts and across the country.