Cleveland, OH
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)Faith Community United Credit Union, founded in 1952, is a community nonprofit that reported $1.4M in total revenue in fiscal year 2023. Revenue fell 39% from the prior year — a significant decline worth monitoring. Net assets of $14.9M represent 131 months of operating reserves.
Provide lending, savings,and other financial services to its qualifying members at terms better than available in the marketplace with a service based emphasis that recognizes the members as owners.
Granted $853,074 high risk loans to credit union members impacted by the Pandemic utilizing the CDFI RRP Grant Funds. The costs incurred consisted of credit union staff processing loans. In addition...
Granted $853,074 high risk loans to credit union members impacted by the Pandemic utilizing the CDFI RRP Grant Funds. The costs incurred consisted of credit union staff processing loans. In addition the credit union had to increase the Allowance for Loan Losses by $73,920 to cover the additional risk. The loans were granted during the period January through August 2022. Faith Community United Credit Unionis a full service Community Development Financial Institution serving the under served community. The credit union provides consumer, mortgages, SBA and non SBA business loans. The credit union also provides home banking, debit cards, credit cards,cash advances, certified checks, automatic clearing house deposits and loan payments, and money orders. The credit pays dividends on deposits.
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 | $1,364,415 | $2,238,593 | -0.4% |
| Expenses | $1,362,889 | $1,564,602 | -0.1% |
| Net Income | $1,526 | $673,991 | -1.0% |
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 |
|---|---|---|---|---|---|---|
| Rana Brown | Director | 1.00 |
Director
|
$0 | $0 | $0 |
| Phyllis Cleveland | Director | 1.00 |
Director
|
$0 | $0 | $0 |
| Alicea Graves | Second Vice Chair | 1.00 |
Director
|
$0 | $0 | $0 |
| Kenetha Sims | Board Member | 1.00 |
Director
|
$0 | $0 | $0 |
| Carl Kirkland | Director | 1.00 |
Director
|
$0 | $0 | $0 |
| Everette Mitchell Jr | First Vice Chairman of the Bo | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| Tyrone McGuinea | Chairman of the Board | 2.00 |
Officer
Director
|
$0 | $0 | $0 |
| Cynthia Sullivan | Secretary of the Board | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| Ronaye Steele | Director | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| Jacqueline Y Moore | Chief Executive Officer | 0.00 |
Highest
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | No data | No data | No data | No data |
| 2023 | $1,364,415 | $1,362,889 | $15,600,686 | $1,526 |
| 2022 | $2,238,593 | $1,564,602 | $18,486,535 | $673,991 |
| 2021 | $2,550,274 | $1,594,899 | $20,663,134 | $955,375 |
| 2020 | $1,504,068 | $1,418,812 | $18,028,435 | $85,256 |
| 2019 | $1,469,290 | $1,369,066 | $14,010,443 | $100,224 |
| 2018 | $1,518,176 | $1,402,736 | $13,042,167 | $115,440 |
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