First United Credit Union

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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

1937

Legal Domicile

Principal Officer

Mark A Richter

Phone

6165329067

Tax Period

2023-01-01 to 2023-06-30

First United Credit Union, founded in 1937, is a community nonprofit that reported $2.5M in total revenue in fiscal year 2022. Revenue fell 40% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $491K, a strong 20% operating margin.

Mission

YOUR FINANCIAL PARTNER PROVIDING PERSONAL, COMMUNITY, AND INNOVATIVE SERVICE

Program Service Accomplishments

Program 1

THE CREDIT UNION PROVIDES SEVERAL DEPOSIT ACCOUNT TYPES TO MEMBERS INCLUDING SAVINGS, CHECKING, CERIFICATES, AND OTHER. THE TOTAL NUMBER OF MEMBERS AT 6/30/23 WAS 4971

Program 2

THE CREDIT UNION PROVIDES A VARIETY OF LOANS TO MEBERS INCLUDING REAL ESTATE, CREDIT CARD, VEHICLE, AND OTHER. THE TOTAL NUMBER OF LOANS OUTSTANDING AT 6/30/23 WAS 3972

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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 (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $2,238,075

Investment Income $218,962

Other Revenue $16,732

TOTAL REVENUE $2,473,769

Expense Breakdown

Grants Paid $0

Salaries & Benefits $641,659

Fundraising Expenses $0

Other Expenses $1,340,638

TOTAL EXPENSES $1,982,297

Year-over-Year Comparison

	2022	2021	Change
Revenue	$2,473,769	$4,090,233	-0.4%
Expenses	$1,982,297	$3,128,825	-0.4%
Net Income	$491,472	$961,408	-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

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

$174,568

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Mark A Richter	CEO	40.00	Officer	$98,919	$9,653	$108,572
Michelle Ross	CFO	40.00	Officer	$65,568	$428	$65,996
Randall M Baker	Chairman	0.00	Director	$0	$0	$0
Mark Derylo	Director	0.00	Director	$0	$0	$0
Anthony Russo	Treasurer	0.00	Director	$0	$0	$0
Kevin Helder	Director	0.00	Director	$0	$0	$0
Laurie Hull	Director	0.00	Director	$0	$0	$0
Karen Wietzke	Director	0.00	Director	$0	$0	$0

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
2023	$2,473,769	$1,982,297	No data	$491,472
2022	$4,090,233	$3,128,825	$64,482,840	$961,408
2021	$3,931,995	$2,871,368	$56,189,015	$1,060,627
2020	$3,877,224	$3,042,430	$48,393,005	$834,794
2020	$3,877,224	$3,042,430	$48,393,005	$834,794
2019	$3,204,621	$2,794,100	$41,062,284	$410,521
2018	$2,884,469	$2,620,167	$37,596,050	$264,302