NEW YORK, NY
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)NEW YORK STATE CHARTERED CREDIT UNIONS - PROGRESSIVE CREDIT UNION, founded in 1918, is a mid-sized nonprofit that reported $22.3M in total revenue in fiscal year 2018. Revenue grew 14% year-over-year, indicating healthy expansion. Expenses of $160.1M exceeded revenue, resulting in a 618% operating deficit.
PROGRESSIVE CREDIT UNION IS CHARTERED UNDER THE NEW YORK BANKING LAW. THE ORGANIZATION IS A COOPERATIVE INSTITUTION AND EXISTS FOR THE FINANCIAL SERVICES BENEFIT OF ITS MEMBERS.
PROGRESSIVE CREDIT UNION RECEIVED ITS CHARTER IN 1918 FROM THE STATE OF NEW YORK. AT DECEMBER 31, 2018 IT HAD 2,821 MEMBERS HAVING APPROXIMATELY $242,052,000 IN SHARES, SHARE DRAFTS AND SHARE...
PROGRESSIVE CREDIT UNION RECEIVED ITS CHARTER IN 1918 FROM THE STATE OF NEW YORK. AT DECEMBER 31, 2018 IT HAD 2,821 MEMBERS HAVING APPROXIMATELY $242,052,000 IN SHARES, SHARE DRAFTS AND SHARE CERTIFICATES ON DEPOSIT WITH THE CREDIT UNION. IN 2018 THE CREDIT UNION GRANTED APPROXIMATELY $19,788,000 IN NEW LOANS, WHICH INCLUDED LOANS FOR THE PURCHASE OF PREVIOUSLY FORECLOSED TAXI MEDALLIONS IN NEW YORK, NEWARK, CHICAGO PHILADELPHIA, ATLANTA, MIAMI, AND BOSTON, AND THE MODIFICATION OF EXISTING TAXI MEDALLION LOANS. THE CREDIT UNION ALSO GRANTS LOANS TO FINANCE COMMERCIAL PROPERTIES AND RESIDENTIAL MORTGAGES.
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)| 2018 | 2017 | Change | |
|---|---|---|---|
| Revenue | $22,308,982 | $19,569,366 | +0.1% |
| Expenses | $160,107,333 | $116,747,686 | +0.4% |
| Net Income | $-137,798,351 | $-97,178,320 | +0.4% |
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 |
|---|---|---|---|---|---|---|
| ROBERT A FAMILANT | CEO/TREASURER | 37.5 |
Officer
Director
|
$1,927,411 | $42,160 | $1,969,571 |
| JOEL SLOMON | PRESIDENT | 1.0 |
Officer
Director
|
$0 | $0 | $0 |
| GERALD SHULMAN | VICE PRESIDENT | 1.0 |
Officer
Director
|
$0 | $0 | $0 |
| DEBORAH CHASSEN | SECRETARY | 1.0 |
Officer
Director
|
$0 | $0 | $0 |
| BRIAN WORKMAN | DIRECTOR | 1.0 |
Director
|
$0 | $0 | $0 |
| ROCCO SABINO FROM 118 | CHIEF FINANCIAL OFFICER | 37.5 |
Officer
|
$164,904 | $0 | $164,904 |
| MARK ENTIN FROM 118 | CHIEF OPERATING OFFICER | 37.5 |
Officer
|
$231,730 | $0 | $231,730 |
| EMILY OAMI | SENIOR ADVISOR | 37.5 |
Key Emp
|
$185,077 | $30,695 | $215,772 |
| RITA RYAN | CHIEF LENDING OFFICER | 37.5 |
Key Emp
|
$170,950 | $1,532 | $172,482 |
| JOSEPH ANCONA | CHIEF CREDIT OFFICER | 37.5 |
Highest
|
$198,762 | $21,623 | $220,385 |
| DAVID KOSHERS | GENERAL COUNSEL | 37.5 |
Highest
|
$163,942 | $13,167 | $177,109 |
| LUKE PARRIS | DIRECTOR OF LENDING/PART. | 37.5 |
Highest
|
$136,907 | $20,123 | $157,030 |
| JOHN MASULLO | SENIOR ACCOUNTANT | 37.5 |
Highest
|
$125,363 | $14,559 | $139,922 |
| DWAYNE LEVERETT | DIR., COMMERICAL REAL ESTATE | 37.5 |
Highest
|
$124,962 | $15,041 | $140,003 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2018 | $22,308,982 | $160,107,333 | No data | $-137,798,351 |
Compare NEW YORK STATE CHARTERED CREDIT UNIONS - PROGRESSIVE CREDIT UNION with other nonprofits in New York and across the country.