1ST ED CREDIT UNION

EIN: 236274650

CHAMBERSBURG, PA

Total Revenue
$4,559,363
Total Expenses
$4,118,865
Total Assets
$131,926,990
Net Assets
$15,612,989
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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
1933
Legal Domicile
PA
Phone
7172646506
Tax Period
2023-01-01 to 2023-12-31

1ST ED CREDIT UNION, founded in 1933, is a community nonprofit that reported $4.6M in total revenue in fiscal year 2023. Revenue grew 15% year-over-year, indicating healthy expansion. Expenses of $4.1M left a modest 10% surplus.

Mission

CREDIT UNIONS ARE COOPERATIVE SAVINGS AND CREDIT ASSOCIATIONS INCORPORATED UNDER ACT NO. 260 OF MAY 26, 1993 OR ACT NO. 283 OF SEPTEMBER 20, 1961, FOR THE PURPOSE OF PROMOTING THRIFT AMOUNG ITS MEMBERS, CREATING A SOURCE OF CREDIT FOR SUCH MEMBERS AT REASONABLE RATES OF INTEREST AND PROVIDING AN OPPORTUNITY FOR ITS MEMBERS TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECOMONIC AND SOCIAL CONDITIONS.

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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 $2,520,020
Investment Income $1,422,281
Other Revenue $617,062
TOTAL REVENUE $4,559,363

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,507,209
Fundraising Expenses $0
Program Expenses $4,118,865
Other Expenses $2,611,656
TOTAL EXPENSES $4,118,865

Year-over-Year Comparison

2023 2022 Change
Revenue $4,559,363 $3,981,740 +0.1%
Expenses $4,118,865 $3,327,221 +0.2%
Net Income $440,498 $654,519 -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

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Governance

Voting Members
7
Independent Members
7
Employees
32
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
5
$197,800
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ROY JOHNSTON PRESIDENT 1.50
Officer Director
$0 $0 $0
DEBORAH WESTOVER VICE PRESIDE 1.00
Officer Director
$0 $0 $0
ALAN ESTES SECRETARY/TR 1.00
Officer Director
$0 $0 $0
DIXIE PARUCH BOARD MEMBER 1.00
Director
$0 $0 $0
BRYAN HAWBECKER BOARD MEMBER 1.00
Director
$0 $0 $0
ROBIN HARMON BOARD MEMBER 1.00
Director
$0 $0 $0
BRIAN CAMPBELL BOARD MEMBER 1.00
Director
$0 $0 $0
CAROLYN FAITH SUPERVIOSRY 1.50
Director
$0 $0 $0
AJ YOHN SUPERVISORY 1.00
Director
$0 $0 $0
THOMAS HOFFMAN SUPERVISORY 1.00
Director
$0 $0 $0
N/A CEO 40.00
Officer
$110,757 $0 $110,757
KELLY DAUGHERTY COO 40.00
Officer
$87,043 $0 $87,043
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 $4,559,363 $4,118,865 $131,926,990 $440,498
2022 $3,981,740 $3,327,221 $125,306,679 $654,519
2021 $3,611,021 $3,266,232 $134,760,811 $344,789
2020 $3,830,608 $3,543,272 $127,018,767 $287,336
2019 $4,063,791 $3,469,904 $116,889,166 $593,887
2018 $3,854,928 $2,929,001 $115,913,743 $925,927
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