FIREFIGHTERS COMMUNITY 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

1936

Legal Domicile

Principal Officer

BENJAMIN LAURENDEAU

Phone

2166214644

Tax Period

2024-01-01 to 2024-12-31

FIREFIGHTERS COMMUNITY CREDIT UNION, founded in 1936, is a mid-sized nonprofit that reported $20.3M in total revenue in fiscal year 2024. Revenue grew 15% year-over-year, indicating healthy expansion. Expenses of $18.5M left a modest 9% surplus.

Mission

TO PROVIDE LENDING, SAVINGS, AND OTHER FINANCIAL SERVICES TO ITS QUALIFYING MEMBERS AT TERMS GENERALLY BETTER THAN AVAILABLE IN THE MARKETPLACE AND WITH A "SERVICE-BASED EMPHASIS" THAT RECOGNIZES THE MEMBERS' STATUS AS OWNERS.

Program Service Accomplishments

Program 1

DIVIDENDS PAID TO MEMBERS ON APPROXIMATELY 55,487 DEPOSIT ACCOUNTS HELD BY APPROXIMATELY 30,006 MEMBERS.

Program 2

EMPLOYEE LABOR AND BENEFIT COSTS INCURRED PROVIDING MEMBER SERVICES AND SUPPORT; INCLUDING SAVINGS DEPOSITS AND WITHDRAWALS, LOAN ORIGINATION AND SERVICING, AND MEMBER TECHNICAL SUPPORT.

Program 3

DATA PROCESSING COSTS INCURRED RECORDING MEMBER ACCOUNT ACTIVITY AND PROVIDING ACCESS TO MEMBERS TO THEIR ACCOUNTS VIA HOME BANKING, ATM NETWORKS AND IN PERSON AT THE CREDIT UNION OFFICES.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $17,617,785

Investment Income $2,241,440

Other Revenue $400,000

TOTAL REVENUE $20,259,225

Expense Breakdown

Grants Paid $0

Salaries & Benefits $6,829,819

Fundraising Expenses $0

Other Expenses $6,962,199

TOTAL EXPENSES $18,525,921

Year-over-Year Comparison

	2024	2023	Change
Revenue	$20,259,225	$17,544,871	+0.2%
Expenses	$18,525,921	$17,041,273	+0.1%
Net Income	$1,733,304	$503,598	+2.4%

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

Employees

112

Volunteers

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

$1,248,714

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BENJAMIN LAURENDEAU	PRESIDENT/CE	37.50	Officer	$365,326	$69,814	$435,140
JOHN CARRICK	CFO	37.50	Officer	$159,080	$56,884	$215,964
KATHY RIGGS	CRO	37.50	Officer	$150,740	$13,581	$164,321
PAUL HUMPHREY	CLO	37.50	Officer	$137,888	$22,135	$160,023
ALYSSA EVANOFF	CMO	37.50	Officer	$137,066	$13,081	$150,147
JESSICA BITTNER	COO	37.50	Officer	$112,919	$10,200	$123,119
GARY ABERZNIK	DIRECTOR	0.00	Director	$0	$0	$0
JAMES ANDREWS	DIRECTOR	0.00	Director	$0	$0	$0
DAMIAN BORKOWSKI	DIRECTOR	0.00	Director	$0	$0	$0
RICHARD BOWMAN	DIRECTOR	0.00	Director	$0	$0	$0
DENNIS CORRIGAN	DIRECTOR	0.00	Director	$0	$0	$0
WILLIAM DEIGHTON	DIRECTOR	0.00	Director	$0	$0	$0
BRYAN GALLAGHER	DIRECTOR	0.00	Director	$0	$0	$0
ANTHONY MISSIG	DIRECTOR	0.00	Director	$0	$0	$0
JAMES POLK	DIRECTOR	0.00	Director	$0	$0	$0
ROBERT SCHWIND	DIRECTOR	0.00	Director	$0	$0	$0

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	$20,259,225	$18,525,921	$343,850,260	$1,733,304
2023	$17,544,871	$17,041,273	$330,048,636	$503,598
2022	$14,606,591	$12,761,956	$335,297,509	$1,844,635
2021	$13,147,195	$12,269,199	$312,911,216	$877,996
2020	$13,000,563	$12,308,358	$289,517,324	$692,205
2019	$14,383,463	$12,857,969	$255,981,903	$1,525,494
2018	$13,577,211	$12,523,061	$250,770,717	$1,054,150