FARMINGTON HILLS, MI
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)CREDIT UNION CHARTERED IN THE STATE OF COMMUNITY CHOICE CREDIT UNION, founded in 1935, is a major nonprofit that reported $124.8M in total revenue in fiscal year 2024. Revenue surged 21% from the prior year, signaling strong growth momentum. Expenses of $118.2M left a modest 5% surplus.
WE BELIEVE IN HELPING OUR NEIGHBORS ACHIEVE THE LIFE THEY DESIRE.
LENDING: WE PROVIDED OVER $318 MILLION IN LOANS TO OUR CONSUMER MEMBERS AND OVER $130 MILLION IN LOANS TO BUSINESSES. OUR LOAN PORTFOLIO GREW BY $95 MILLION DURING 2024 TO $1.437 BILLION AS OF...
LENDING: WE PROVIDED OVER $318 MILLION IN LOANS TO OUR CONSUMER MEMBERS AND OVER $130 MILLION IN LOANS TO BUSINESSES. OUR LOAN PORTFOLIO GREW BY $95 MILLION DURING 2024 TO $1.437 BILLION AS OF DECEMBER 31, 2024. WE ADDED A NEW LOAN PRODUCT CALLED RENOFI WHICH PROVIDES A UNIQUE AND CONVENIENT FINANCING OPTION FOR HOME IMPROVEMENT PROJECTS.
DEPOSITS: OUR MEMBERS DEPOSITED OVER $1.5 BILLION WITH US IN SAVINGS, CHECKING, BUSINESS, AND INVESTMENT ACCOUNTS INCLUDING IRA AND CDS.
DIGITAL ACCESS: IN SUPPORT OF OUR STRATEGIC FOCUS ON DIGITAL TOGETHER, WE UPGRADED MANY OF OUR ATM MACHINES TO ITM MACHINES. WE UPGRADED COMMUNICATION SYSTEMS TO INCLUDE A MORE ROBUST ONLINE CHAT...
DIGITAL ACCESS: IN SUPPORT OF OUR STRATEGIC FOCUS ON DIGITAL TOGETHER, WE UPGRADED MANY OF OUR ATM MACHINES TO ITM MACHINES. WE UPGRADED COMMUNICATION SYSTEMS TO INCLUDE A MORE ROBUST ONLINE CHAT, VIDEO CALLS, AND CO-BROWSING. WE INCREASED ACCESSIBILITY BY MAKING LOAN PAYMENTS AVAILABLE VIA TEXT FROM ACCOUNTS HELD ANYWHERE; AND WE IMPLEMENTED SAME DAY ELECTRONIC PAYMENTS.
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)| 2024 | 2023 | Change | |
|---|---|---|---|
| Revenue | $124,802,335 | $102,901,319 | +0.2% |
| Expenses | $118,223,191 | $98,586,856 | +0.2% |
| Net Income | $6,579,144 | $4,314,463 | +0.5% |
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 |
|---|---|---|---|---|---|---|
| BRIAN WILSON | CHAIRPERSON | 1.00 |
Director
|
$0 | $0 | $0 |
| MARY MIKO | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| THOMAS COOK | SECRETARY | 1.00 |
Director
|
$0 | $0 | $0 |
| KATHLEEN BONUTTI | TREASURER | 1.00 |
Director
|
$0 | $0 | $0 |
| TIMOTHY CROSSON | VICE CHAIRPERSON | 1.00 |
Director
|
$0 | $0 | $0 |
| CHERYL MARKS | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| ONEATA BAILEY | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| TIMOTHY WELCER | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| MICHAEL FAHMY | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| ROBERT BAVA | CEO | 40.00 |
Officer
|
$1,198,615 | $70,483 | $1,269,098 |
| KELLI WISNER-FRANK | CFO | 40.00 |
Officer
|
$408,491 | $56,685 | $465,176 |
| TERESA MAYER | CLO | 40.00 |
Officer
|
$407,133 | $7,398 | $414,531 |
| DONNA SIEJUTT | CHRO | 40.00 |
Officer
|
$333,410 | $49,979 | $383,389 |
| DANIEL MUNRO | COO/EVP | 40.00 |
Officer
|
$555,437 | $290,612 | $846,049 |
| JENNIFER LYNN HURREN | SVP CHIEF DIGITAL OFFICER | 40.00 |
Officer
|
$330,094 | $23,646 | $353,740 |
| BRIAN WILSON | VP RETAIL DELIVERY | 40.00 |
Key Emp
|
$246,880 | $47,483 | $294,363 |
| JEFFREY DUBEY | VP RISK MANAGEMENT | 40.00 |
Key Emp
|
$257,919 | $29,169 | $287,088 |
| JENNY LUDWIGSEN | VP MARKETING | 40.00 |
Key Emp
|
$268,274 | $18,344 | $286,618 |
| CARLINGTON BUCKNOR | VP TECHNOLOGY | 40.00 |
Key Emp
|
$261,883 | $39,983 | $301,866 |
| BARBARA BABINGTON | VP LENDING | 40.00 |
Key Emp
|
$249,259 | $34,836 | $284,095 |
| JASON CAIN | VP DIGITAL | 40.00 |
Key Emp
|
$201,812 | $5,989 | $207,801 |
| WENDI DIACONO | WEALTH ADVISOR | 40.00 |
Highest
|
$533,641 | $24,548 | $558,189 |
| FREDERICK MARSZALEC | BUSINESS RELATIONSHIP MANAGER | 40.00 |
Highest
|
$216,873 | $43,294 | $260,167 |
| ELIZABETH ANNE SPADAFORE | SR BUSINESS RELATIONSHIP MANAGER | 40.00 |
Highest
|
$323,736 | $11,393 | $335,129 |
| BRENT LOWELL | SR BUSINESS RELATIONSHIP MANAGER | 40.00 |
Highest
|
$330,625 | $39,610 | $370,235 |
| DONNA BASHI | VP BUSINESS DEVELOPMENT | 40.00 |
Highest
|
$382,309 | $23,444 | $405,753 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | $124,802,335 | $118,223,191 | $1,844,505,982 | $6,579,144 |
| 2023 | $102,901,319 | $98,586,856 | $1,787,760,337 | $4,314,463 |
| 2022 | $84,137,393 | $70,833,474 | $1,750,069,029 | $13,303,919 |
| 2021 | $74,321,132 | $62,193,541 | $1,628,878,716 | $12,127,591 |
| 2020 | $67,940,068 | $59,380,132 | $1,397,314,880 | $8,559,936 |
| 2019 | $64,553,439 | $57,129,527 | $1,163,543,549 | $7,423,912 |
| 2018 | $61,687,432 | $52,574,733 | $1,076,731,500 | $9,112,699 |
Compare CREDIT UNION CHARTERED IN THE STATE OF COMMUNITY CHOICE CREDIT UNION with other nonprofits in Michigan and across the country.