NEW HAVEN COUNTY CREDIT UNION INC

EIN: 060790693

NORTH HAVEN, CT

Total Revenue
$1,582,465
Total Expenses
$1,063,978
Total Assets
$26,834,004
Net Assets
$2,355,127
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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
1952
Legal Domicile
CT
Principal Officer
CHRISTOPHER MARONE
Phone
2032348773
Tax Period
2023-01-01 to 2023-12-31

NEW HAVEN COUNTY CREDIT UNION INC, founded in 1952, is a community nonprofit that reported $1.6M in total revenue in fiscal year 2023. Revenue surged 23% from the prior year, signaling strong growth momentum. The organization ran a surplus of $518K, a strong 33% operating margin.

Mission

STATE CHARTERED CREDIT UNION THAT PROVIDES FINANCIAL SERVICES

Program Service Accomplishments

Program 1
Expenses: $531,990

LOANS TO MEMBERS OF CREDIT UNION

Program 2
Expenses: $265,994

INTEREST EARNED ON CREDIT UNION INVESTMENTS

Program 3
Expenses: $265,994

FEES CHARGES TO MEMBERS FEES CHARGES TO NONMEMBERS

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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 (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $1,323,474
Investment Income $258,991
Other Revenue $0
TOTAL REVENUE $1,582,465

Expense Breakdown

Grants Paid $0
Salaries & Benefits $371,475
Fundraising Expenses $0
Program Expenses $1,063,978
Other Expenses $692,503
TOTAL EXPENSES $1,063,978

Year-over-Year Comparison

2023 2022 Change
Revenue $1,582,465 $1,291,115 +0.2%
Expenses $1,063,978 $1,022,058 +0.0%
Net Income $518,487 $269,057 +0.9%
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
7
Independent Members
6
Employees
7
Volunteers
10

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
$141,897
Total Directors
7
$141,897
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
WILLIAM WOLLMAN CHAIRMAN 1.00
Director
$0 $0 $0
JOSEPH TATTA BOARD OF DIRECTOR 1.00
Director
$0 $0 $0
NICHOLAS IWANEC TREASURER 1.00
Director
$0 $0 $0
SUSAN MCQUIRE SECRETARY 1.00
Director
$0 $0 $0
MICHAEL KOFF BOARD OF DIRECTOR 1.00
Director
$0 $0 $0
RYAN PARENT BOARD OF DIRECTOR 1.00
Director
$0 $0 $0
CHRISTOPHER MARONE CEO 40.00
Officer Director
$141,897 $0 $141,897
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 $1,582,465 $1,063,978 $26,834,004 $518,487
2022 $1,291,115 $1,022,058 $26,111,213 $269,057
2021 $1,041,048 $988,325 $27,232,950 $52,723
2020 $1,036,530 $994,522 $24,374,352 $42,008
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