COASTAL1 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

1928

Legal Domicile

Principal Officer

BRIAN AZAR

Phone

4017222212

Tax Period

2023-01-01 to 2023-12-31

COASTAL1 CREDIT UNION, founded in 1928, is a major nonprofit that reported $137.1M in total revenue in fiscal year 2023. Revenue surged 30% from the prior year, signaling strong growth momentum. Expenses of $123.0M left a modest 10% surplus.

Mission

COASTAL1 CREDIT UNION IS A COOPERATIVE FINANCIAL INSTITUTION ORGANIZED AS A CREDIT UNION FOR THE BENEFIT OF ITS MEMBERS. THE CREDIT UNION IS COMMITTED TO SERVING THE FINANCIAL NEEDS OF ITS MEMBERS TO HELP THEM ATTAIN THEIR FINANCIAL GOALS.

Program Service Accomplishments

Program 1

THE CREDIT UNION IS DEDICATED TO SERVING ITS MEMBERS. THE CREDIT UNION HAD LOANS TOTALING $2,932,303,594 DUE FROM MEMBERS AND MEMBER DEPOSIT ACCOUNTS TOTALING $2,433,213,331 AT DECEMBER 31, 2023. IN...

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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 $114,007,298

Investment Income $10,382,661

Other Revenue $12,740,816

TOTAL REVENUE $137,130,775

Expense Breakdown

Grants Paid $128,011

Salaries & Benefits $30,629,194

Fundraising Expenses $0

Other Expenses $92,241,919

TOTAL EXPENSES $122,999,124

Year-over-Year Comparison

	2023	2022	Change
Revenue	$137,130,775	$105,557,200	+0.3%
Expenses	$122,999,124	$73,835,056	+0.7%
Net Income	$14,131,651	$31,722,144	-0.6%

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

N/A

Employees

342

Volunteers

N/A

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

$1,440,554

Total Directors

$480,276

Key Employees

$662,936

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR FRANK P CASARELLA	DIRECTOR	5.00	Director	$28,000	$0	$28,000
JOHN B RICHER JR	TREASURER	7.00	Officer Director	$60,500	$0	$60,500
KARL A KOZAK	DIRECTOR (ENDED 10/2023)	5.00	Director	$23,039	$0	$23,039
KEVIN TRACEY	DIRECTOR	5.00	Director	$34,570	$0	$34,570
LAWRENCE J MONASTESSE	DIRECTOR	5.00	Director	$28,000	$0	$28,000
LINDA C MOFFAT	DIRECTOR	5.00	Director	$28,000	$0	$28,000
LYNN AM WEINSTEIN	VICE CHAIRMAN	7.00	Officer Director	$63,000	$0	$63,000
MARIO CARLUCCI	DIRECTOR	5.00	Director	$28,000	$0	$28,000
PAUL F LEFEBVRE	SECRETARY	7.00	Officer Director	$60,500	$0	$60,500
RICHARD H LECLERC	DIRECTOR	5.00	Director	$28,000	$0	$28,000
RONALD W LECLAIR	CHAIRMAN	12.00	Officer Director	$84,000	$0	$84,000
JOHN Z LUO MD	DIRECTOR (AS OF 10/2023)	5.00	Director	$14,667	$0	$14,667
BRIAN AZAR	PRESIDENT/CEO	40.00	Officer	$720,877	$46,229	$767,106
VALERIE J PIMENTA	EVP/CFO	40.00	Officer	$368,669	$36,779	$405,448
DONNA GREGSON	EVP RETAIL	40.00	Key Emp	$317,068	$46,856	$363,924
TIMOTHY M JERMAIN	EVP/COO	40.00	Key Emp	$269,079	$29,933	$299,012
JEFFREY KOLARIK	SVP/CIO	40.00	Highest	$314,028	$39,656	$353,684
KEVIN FARRELL	SVP/COMMERCIAL LENDING	40.00	Highest	$330,228	$48,447	$378,675
MARK MCLAUGHLIN	VP/MORTGAGE ORIGINATION	40.00	Highest	$364,909	$47,881	$412,790
PATRICIA WEBB	SVP/RESIDENTAL & RETAIL LENDING	40.00	Highest	$310,365	$33,349	$343,714
ROBERT GOTTI	SVP/BUSINESS DEVELOPMENT	40.00	Highest	$308,754	$48,717	$357,471

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	$137,130,775	$122,999,124	$3,322,745,503	$14,131,651
2022	$105,557,200	$73,835,056	$3,132,689,831	$31,722,144
2021	$91,925,616	$56,688,643	$2,840,412,596	$35,236,973
2020	$92,008,258	$71,765,315	$2,654,417,449	$20,242,943
2019	$92,968,318	$77,322,712	$2,413,396,599	$15,645,606
2018	$83,722,247	$65,305,659	$2,316,022,211	$18,416,588