CREDIT UNION CHARTERED IN THE STATE OF COMMUNITY CHOICE CREDIT UNION (EIN 380960035) - Form 990 Financial Analysis & Trantor Score

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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

1935

Legal Domicile

Principal Officer

ROBERT BAVA

Phone

8772432528

Tax Period

2024-01-01 to 2024-12-31

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.

Mission

COMMUNITY CHOICE CREDIT UNION IS A MEMBER OWNED, NOT-FOR-PROFIT FINANCIAL COOPERATIVE COMMITTED TO SERVING AS A TRUSTED ADVISOR TO OUR MEMBERS. WE ARE DEDICATED TO IMPROVING THE FINANCIAL LIVES OF OUR MEMBERS AND QUALITY OF LIFE FOR THE COMMUNITIES WE SERVE IN MICHIGAN. WE RECOGNIZE FOUR MAIN CORE VALUES THAT WE STRIVE TO DELIVER WITH EVERY EXPERIENCE: COMMITTED, CHARITABLE, CREDIBLE, AND UNITED.

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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 $112,080,040

Investment Income $10,481,347

Other Revenue $2,240,948

TOTAL REVENUE $124,802,335

Expense Breakdown

Grants Paid $14,948

Salaries & Benefits $42,026,455

Fundraising Expenses $0

Other Expenses $76,181,788

TOTAL EXPENSES $118,223,191

Year-over-Year Comparison

	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%

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

503

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

$3,731,983

Total Directors

Key Employees

$1,661,831

Highest Compensated

reported

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

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	$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

CREDIT UNION CHARTERED IN THE STATE OF COMMUNITY CHOICE CREDIT UNION