INDIANAPOLIS, IN
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)FORUM CREDIT UNION, founded in 1941, is a major nonprofit in the Public & Societal Benefit sector that reported $122.0M in total revenue in fiscal year 2023. Revenue surged 28% from the prior year, signaling strong growth momentum. The organization ran a surplus of $25.8M, a strong 21% operating margin.
FORUM IS A 501(C)(14) EXEMPT ORGANIZATION THAT IS OPERATED FOR MUTUAL PURPOSES AND WITHOUT PROFIT THAT 1)PROMOTES THRIFT AMONG MEMBERS AND 2)PROVIDES LOW COST CREDIT FOR MEMBERS. ITS COLLECTIVE CHARGE IS TO BE AN INNOVATIVE, DYNAMIC, AND RESPONSIVE FINANCIAL SERVICES ORGANIZATION PROVIDING PRODUCTS AND SERVICES THAT CREATE VALUE FOR ITS MEMBERS.
PROVIDING LOW COST CREDIT FOR MEMBERS IS THE BASIC FUNCTION OF A CREDIT UNION. THE COOPERATIVE NATURE OF THE CREDIT UNION ALLOWS FOR MARKET LENDING RATES TO BE OFFERED FOR MORTGAGE LOANS, HOME EQUITY...
PROVIDING LOW COST CREDIT FOR MEMBERS IS THE BASIC FUNCTION OF A CREDIT UNION. THE COOPERATIVE NATURE OF THE CREDIT UNION ALLOWS FOR MARKET LENDING RATES TO BE OFFERED FOR MORTGAGE LOANS, HOME EQUITY LOANS AND PERSONAL LOANS. IN ADDITION, FORUM WORKS CLOSELY WITH THE FHA AND OTHER HOME OWNERSHIP ORGANIZATIONS TO HELP CONSUMERS REALIZE THE DREAM OF OWNING A HOME. FORUM ORIGINATED OVER $659 MILLION IN LOANS THIS YEAR IN ITS EFFORTS TO MEET THE MEMBERS' LENDING NEEDS.
TO PROMOTE THRIFT AND RESPONSIBLE USE OF CREDIT WITHIN THE MEMBERSHIP, FORUM PROVIDES SEVERAL FINANCIAL EDUCATION OPPORTUNITIES INCLUDING FINANCIAL LITERACY CONTENT ON THE WEBSITE, FINANCIAL LITERACY...
TO PROMOTE THRIFT AND RESPONSIBLE USE OF CREDIT WITHIN THE MEMBERSHIP, FORUM PROVIDES SEVERAL FINANCIAL EDUCATION OPPORTUNITIES INCLUDING FINANCIAL LITERACY CONTENT ON THE WEBSITE, FINANCIAL LITERACY VIDEOS, FINANCIAL SEMINARS, ONLINE BUDGETING TOOLS, IN BRANCH ACTIVITIES AND PROMOTIONS GEARED TO FINANCIAL EDUCATION. IN ADDITION, FORUM PROVIDES A VARIETY OF INNOVATIVE SAVINGS ACCOUNTS DESIGNED TO ENCOURAGE SYSTEMATIC SAVINGS WHICH HAS GENERATED OVER $24 MILLION IN PERSONAL SAVINGS.
FORUM PROVIDES LENDING AND DEPOSITORY SERVICES FOR SMALL BUSINESS OWNERS. FORUM OFFERS SEVERAL TYPES OF COMMERCIAL LOANS INCLUDING SEVERAL OF THE SMALL BUSINESS ADMINISTRATION (SBA) LOANS TO HELP...
FORUM PROVIDES LENDING AND DEPOSITORY SERVICES FOR SMALL BUSINESS OWNERS. FORUM OFFERS SEVERAL TYPES OF COMMERCIAL LOANS INCLUDING SEVERAL OF THE SMALL BUSINESS ADMINISTRATION (SBA) LOANS TO HELP SMALL BUSINESS OWNERS GROW THEIR BUSINESSES. FORUM CURRENTLY WORKS WITH OVER 5,000 SMALL BUSINESS OWNERS PROVIDING A VARIETY OF PRODUCTS AND SERVICES.
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 | $121,977,660 | $95,569,110 | +0.3% |
| Expenses | $96,142,707 | $74,186,755 | +0.3% |
| Net Income | $25,834,953 | $21,382,355 | +0.2% |
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 |
|---|---|---|---|---|---|---|
| DOUGLAS TRUE | CHIEF EXECUTIVE OFFICER | 40 |
Officer
|
$665,136 | $65,626 | $730,762 |
| BENJAMEN BANKS | FINANCIAL ADVISOR- PCG | 40 |
Highest
|
$373,176 | $67,667 | $440,843 |
| JEFFRY WELCH | CHIEF FINANCIAL OFFICER | 40 |
Officer
|
$389,185 | $35,074 | $424,259 |
| CHARLES ANDREW MATTINGLY | CHIEF OPERATING OFFICER | 40 |
Officer
|
$343,333 | $65,857 | $409,190 |
| CAMERON PIERCEFIELD | CHIEF TECHNOLOGY AND RISK OFFICER | 40 |
Key Emp
|
$349,455 | $41,111 | $390,566 |
| JENNIFER BUDREAU | CHIEF OPERATING OFFICER | 40 |
Officer
|
$351,104 | $26,930 | $378,034 |
| JIM CARR | SENIOR VICE PRESIDENT - COMMERCIAL & INVESTMENT SERVICES | 40 |
Highest
|
$294,574 | $49,469 | $344,043 |
| TAMMY MARRS | FINANCIAL ADVISOR | 40 |
Highest
|
$275,829 | $57,846 | $333,675 |
| MICHELLE ADRIAN | MORTGAGE ORIGINATOR | 40 |
Highest
|
$288,101 | $29,404 | $317,505 |
| ANDREW SPIRRISON | CHIEF MEMBER EXPERIENCE OFFICER | 40 |
Key Emp
|
$227,989 | $61,878 | $289,867 |
| CHRISTOPHER FERGUSON | VICE PRESIDENT-CONSUMER LENDING | 40 |
Highest
|
$213,429 | $40,246 | $253,675 |
| JODEE CURTIS | DIRECTOR | 5 |
Director
|
$6,358 | $0 | $6,358 |
| KELLY WILSON | DIRECTOR | 5 |
Director
|
$4,250 | $0 | $4,250 |
| KEVIN HUNT | CHAIRMAN | 5 |
Officer
Director
|
$946 | $0 | $946 |
| RICK RAMBO | TREASURER | 5 |
Officer
Director
|
$796 | $0 | $796 |
| TRACY MILLS | VICE CHAIRMAN | 5 |
Officer
Director
|
$0 | $0 | $0 |
| CHRIS HAGENOW | SECRETARY | 5 |
Officer
Director
|
$0 | $0 | $0 |
| LORI WINKLER | DIRECTOR | 5 |
Director
|
$0 | $0 | $0 |
| DONNA WILKINSON | DIRECTOR | 5 |
Director
|
$0 | $0 | $0 |
| JOHN GALLINA | DIRECTOR | 5 |
Director
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | No data | No data | No data | No data |
| 2023 | $121,977,660 | $96,142,707 | $2,061,308,465 | $25,834,953 |
| 2022 | $95,569,110 | $74,186,755 | $1,997,992,008 | $21,382,355 |
| 2021 | $93,129,055 | $68,230,811 | $1,879,317,913 | $24,898,244 |
| 2020 | $90,862,281 | $76,897,255 | $1,709,424,688 | $13,965,026 |
| 2019 | $84,015,212 | $74,283,719 | $1,488,919,520 | $9,731,493 |
| 2018 | $76,777,388 | $65,823,766 | $1,414,390,401 | $10,953,622 |
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