Akron, OH
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)164 FIRSTENERGY FAMILY CREDIT UNION, founded in 1936, is a community nonprofit that reported $1.5M in total revenue in fiscal year 2023. Revenue surged 38% from the prior year, signaling strong growth momentum. Expenses of $1.3M left a modest 15% surplus.
TO PROVIDE LENDING, SAVINGS AND OTHER FINANCIAL SERVICES TO IT'S QUALIFYING MEMBERS AT TERMS USUALLY BETTER THAN AVAILABLE IN THE MARKETPLACE. WITH A HEAVY EMPHASIS ON MEMBER SERVICE THAT RECONIZES THAT THE MEMBERS ARE THE OWNERS OF THE CREDIT UNION AND NOT JUST CUSTOMERS. DIRECT LABOR AND EMPLOYEE BENEFITS COSTS INCURRED PROVIDING SAVINGS DEPOSIT SERVICES, ORIGINATING NEW LOANS AND SERVING THE LOAN PORTFOLIO FOR MEMBERS.
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 | $1,533,874 | $1,108,328 | +0.4% |
| Expenses | $1,309,134 | $1,078,356 | +0.2% |
| Net Income | $224,740 | $29,972 | +6.5% |
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 |
|---|---|---|---|---|---|---|
| Timothy Baker | CEO & Treasurer | 40 |
Officer
Key Emp
Highest
|
$173,000 | $0 | $173,000 |
| Kevin J Daum | COO | 40 |
Key Emp
|
$121,000 | $0 | $121,000 |
| Joseph Gier | Director | 1 |
Director
|
$0 | $0 | $0 |
| Joseph Storsin | Director | 1 |
Director
|
$0 | $0 | $0 |
| Michael Newkirk | Director | 1 |
Director
|
$0 | $0 | $0 |
| Christie Phillips | Director | 1 |
Director
|
$0 | $0 | $0 |
| RogerMcElroy | 401K Trustee | 1 |
Director
|
$0 | $0 | $0 |
| Amy Patterson | Director | 1 |
Director
|
$0 | $0 | $0 |
| William Shonk | President | 2 |
Director
|
$0 | $0 | $0 |
| Erik Gegick | Vice President | 1 |
Director
|
$0 | $0 | $0 |
| Lou Ellen Kirkendall | Secretary | 1 |
Officer
Director
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | No data | No data | No data | No data |
| 2023 | $1,533,874 | $1,309,134 | $41,759,122 | $224,740 |
| 2022 | $1,108,328 | $1,078,356 | $44,572,146 | $29,972 |
| 2021 | $996,214 | $947,090 | $47,007,978 | $49,124 |
| 2020 | $1,181,298 | $1,081,478 | $44,272,866 | $99,820 |
| 2019 | $1,293,747 | $1,110,803 | $40,355,161 | $182,944 |
| 2018 | $1,167,268 | $1,045,788 | $41,384,913 | $121,480 |
Compare 164 FIRSTENERGY FAMILY CREDIT UNION with other nonprofits in Ohio and across the country.