Community Financial Credit Union

EIN: 381447620

PLYMOUTH, MI

Total Revenue
$99,983,788
Total Expenses
$96,013,609
Total Assets
$1,594,945,276
Net Assets
$149,067,220
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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
2012
Legal Domicile
MI
Phone
7344531200
Tax Period
2023-01-01 to 2023-12-31

Community Financial Credit Union, founded in 2012, is a mid-sized nonprofit that reported $100.0M in total revenue in fiscal year 2023. Revenue surged 46% from the prior year, signaling strong growth momentum. Expenses of $96.0M left a modest 4% surplus.

Mission

Community Financial Credit Union is a state chartered, not-for-profit, full-service financial institution owned and governed by its membership. At Community Financial, we are committed to our members and our communities. For over 70 years, we've provided our Michigan members competitively-priced savings & loans products, outstanding service and support to their neighborhoods.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $93,855,386
Investment Income $4,626,020
Other Revenue $1,502,382
TOTAL REVENUE $99,983,788

Expense Breakdown

Grants Paid $973,333
Salaries & Benefits $37,327,847
Fundraising Expenses $0
Program Expenses $0
Other Expenses $57,712,429
TOTAL EXPENSES $96,013,609

Year-over-Year Comparison

2023 2022 Change
Revenue $99,983,788 $68,299,039 +0.5%
Expenses $96,013,609 $58,544,558 +0.6%
Net Income $3,970,179 $9,754,481 -0.6%
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

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Governance

Voting Members
9
Independent Members
9
Employees
431
Volunteers
15

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
13
$3,778,678
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
N/A SECRETARY/TREASURER 1.0
Officer Director
$0 $0 $0
N/A 1st VICE CHAIRPERSON 1.0
Officer Director
$0 $0 $0
N/A 2ND VICE CHAIRPERSON 1.0
Officer Director
$0 $0 $0
N/A BOARD CHAIR 1.0
Officer Director
$0 $0 $0
N/A BOARD MEMBER 1.0
Director
$0 $0 $0
N/A BOARD MEMBER 1.0
Director
$0 $0 $0
N/A BOARD MEMBER 1.0
Director
$0 $0 $0
N/A Board Member (partial year) 1.0
Director
$0 $0 $0
N/A BOARD MEMBER 1.0
Director
$0 $0 $0
N/A Board Member (partial year) 1.0
Director
$0 $0 $0
N/A BOARD MEMBER 1.0
Director
$0 $0 $0
N/A CHIEF INFORMATION AND DIGITAL OFFICER 40.0
Officer
$410,381 $74,645 $485,026
N/A CHIEF PEOPLE OFFICER 40.0
Officer
$372,470 $76,810 $449,280
N/A SVP OF OPERATIONS AND RISK 40.0
Officer
$358,191 $91,885 $450,076
N/A CHIEF GROWTH OFFICER 40.0
Officer
$206,265 $14,127 $220,392
N/A CHIEF EXPERIENCE OFFICER 40.0
Officer
$304,084 $20,029 $324,113
N/A CHIEF OF STAFF 40.0
Officer
$306,142 $3,750 $309,892
N/A CHIEF REVENUE AND LENDING OFFICER 40.0
Officer
$390,136 $87,173 $477,309
N/A EVP/CFO 40.0
Officer
$376,943 $86,731 $463,674
N/A CEO 40.0
Officer
$570,686 $28,230 $598,916
N/A SVP Lending 40.0
Highest
$220,808 $19,359 $240,167
N/A INVESTMENT REPRESENTATIVE 40.0
Highest
$228,506 $10,362 $238,868
N/A VP BUSINESS EXPERIENCE 40.0
Highest
$221,337 $274 $221,611
N/A AVP of Core Systems & Development 40.0
Highest
$217,306 $21,087 $238,393
N/A VP COMMERCIAL LENDING (THROUGH 9/30/23) 40.0
Highest
$562,645 $11,638 $574,283
N/A Former OFFICER 40.0
$230,615 $0 $230,615
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 No data No data No data No data
2023 $99,983,788 $96,013,609 $1,594,945,276 $3,970,179
2022 $68,299,039 $58,544,558 $1,531,731,546 $9,754,481
2021 $61,092,324 $48,698,466 $1,253,139,306 $12,393,858
2020 $59,570,795 $50,153,741 $1,160,339,636 $9,417,054
2019 $56,742,135 $49,078,834 $1,013,235,547 $7,663,301
2018 $48,432,169 $39,781,919 $932,017,676 $8,650,250
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