BANNOCKBURN, IL
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)ENCURAGE FINANCIAL NETWORK CREDIT UNION, founded in 1936, is a community nonprofit that reported $5.2M in total revenue in fiscal year 2023. Revenue fell 60% from the prior year — a significant decline worth monitoring. Expenses of $5.9M exceeded revenue, resulting in a 13% operating deficit.
TO PROVIDE SUPERIOR FINANCIAL VALUE WITH UNSURPASSED SERVICE WHILE MAINTAINING OUR TRADITION OF STABILITY, TRUST, AND SECURITY.
LOANS (MORTGAGE, HOME EQUITY, CREDIT CARD, VEHICLE, AND OTHER) ARE GRANTED TO INDIVIDUALS WHO ARE MEMBERS IN GOOD STANDING WITH THE CREDIT UNION AND WHO QUALIFY FOR SUCH LOANS.
SHARE ACCOUNTS ARE OFFERED AT A NO-MONTHLY FEE BASIS TO THOSE MEMBERS WHO APPLY AND ARE IN GOOD STANDING WITH THE CREDIT UNION.
ATM/DEBIT CARDS AND CHECKCARDS ARE AVAILABLE TO MEMBERS WHO APPLY FOR ELECTRONIC ACCESS TO THEIR ACCOUNTS FOR DEPOSIT AND WITHDRAWAL OF FUNDS AND ACCOUNT INFORMATION.
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 | $5,221,898 | $12,973,055 | -0.6% |
| Expenses | $5,899,223 | $13,898,964 | -0.6% |
| Net Income | $-677,325 | $-925,909 | -0.3% |
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 |
|---|---|---|---|---|---|---|
| WILLIAM HARLAN | CHAIRPERSON | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| TOM MONTICELLO | VICE CHAIRPERSON | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| MICHAEL GEBHARDT | SECRETARY | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| JAMIE BERRA | TREASURER | 1.00 |
Director
|
$0 | $0 | $0 |
| POLLY KOSYLA | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| DIONNE LEWIS | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| JOSE PEREZ | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| MICHAEL ABRAHAM | PRESIDENT/CEO | 40.00 |
Officer
|
$145,980 | $18,369 | $164,349 |
| WILLIAM LUMP | CFO | 40.00 |
Officer
|
$96,596 | $6,600 | $103,196 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | $5,221,898 | $5,899,223 | No data | $-677,325 |
| 2023 | $12,973,055 | $13,898,964 | $219,005,750 | $-925,909 |
| 2022 | $7,839,792 | $7,051,869 | $177,453,797 | $787,923 |
| 2021 | $7,217,115 | $6,062,298 | $120,386,387 | $1,154,817 |
| 2020 | $8,854,560 | $7,903,525 | $104,699,125 | $951,035 |
| 2019 | $6,658,350 | $6,190,335 | $91,957,974 | $468,015 |
| 2018 | $5,007,535 | $5,058,674 | $95,698,439 | $-51,139 |
Compare ENCURAGE FINANCIAL NETWORK CREDIT UNION with other nonprofits in Illinois and across the country.