CREDIT UNION CHARTERED IN THE STAT… - Form 990 Financial Data

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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

1942

Legal Domicile

Principal Officer

DEBRA DIETZ

Phone

2317334600

Tax Period

2024-01-01 to 2024-12-31

CREDIT UNION CHARTERED IN THE STATE OF MI 806 FAMILY FINANCIAL CREDIT UNION, founded in 1942, is a community nonprofit that reported $8.6M in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $7.8M left a modest 10% surplus.

Mission

WE ARE A MEMBER OWNED FINANCIAL INSTITUTION DEDICATED TO MEETING OUR MEMBERS NEEDS BY PROVIDING QUALITY FINANCIAL SERVICES WITH A WELL-TRAINED FRIENDLY STAFF.

Program Service Accomplishments

Program 1

PROVIDE 16,690 MEMBERS WITH SAVINGS, SHARE DRAFT, CLUB, MONEY MARKET, CERTIFICATES OF DEPOSITS AND INDIVIDUAL RETIREMENT ACCOUNTS WITH AGGREGATE BALANCES OF APPROXIMATELY $134,000,000 AS OF DECEMBER...

Program 2

PROVIDE 9,024 LOANS INCLUDING CREDIT CARDS, LINE OF CREDIT, VEHICLE, REAL ESTATE, SHARE SECURED, RECREATIONAL VEHICLE, HOME EQUITY, PARTICIPATION AND INDIRECT LOANS WITH AGGREGATE BALANCES OF...

PROVIDE 9,024 LOANS INCLUDING CREDIT CARDS, LINE OF CREDIT, VEHICLE, REAL ESTATE, SHARE SECURED, RECREATIONAL VEHICLE, HOME EQUITY, PARTICIPATION AND INDIRECT LOANS WITH AGGREGATE BALANCES OF APPROXIMATELY $97,000,000 AS OF DECEMBER 31, 2024.

Program 3

OFFER ATM/DEBIT CARDS, CHECK CASHING, WIRE TRANSFERS, ELECTRONIC BANKING, BILL PAYER, OVERDRAFT PROTECTION/COURTESY PAY, REMOTE DEPOSIT CAPTURE, MONEY ORDERS, GIFT CARDS, BILINGUAL SERVICES...

OFFER ATM/DEBIT CARDS, CHECK CASHING, WIRE TRANSFERS, ELECTRONIC BANKING, BILL PAYER, OVERDRAFT PROTECTION/COURTESY PAY, REMOTE DEPOSIT CAPTURE, MONEY ORDERS, GIFT CARDS, BILINGUAL SERVICES, FINANCIAL EDUCATION AND INSURANCE PROGRAMS TO ALL ELIGIBLE MEMBERS.

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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 $7,492,338

Investment Income $1,091,881

Other Revenue $0

TOTAL REVENUE $8,584,219

Expense Breakdown

Grants Paid $1,000

Salaries & Benefits $2,726,906

Fundraising Expenses $0

Other Expenses $5,025,646

TOTAL EXPENSES $7,753,552

Year-over-Year Comparison

	2024	2023	Change
Revenue	$8,584,219	$7,727,831	+0.1%
Expenses	$7,753,552	$6,894,253	+0.1%
Net Income	$830,667	$833,578	0.0%

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

$258,207

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KEVIN HUSS	BOARD - CHAIRPERSON	2.00	Director	$0	$0	$0
KRISTEN COLLEE	BOARD - VICE CHAIRPERSON	2.00	Director	$0	$0	$0
STARR EVANS	BOARD - TREASURER	2.00	Director	$0	$0	$0
DENISE WINEBARGER	BOARD - SECRETARY	2.00	Director	$0	$0	$0
JOHN TARANKO	BOARD - DIRECTOR	2.00	Director	$0	$0	$0
JIM PORTER	BOARD - DIRECTOR	2.00	Director	$0	$0	$0
MEHEAN JONES-QUINN	BOARD - DIRECTOR	2.00	Director	$0	$0	$0
DEBRA K DIETZ	CEO	40.00	Officer	$173,857	$14,948	$188,805
LYNN ANN MUMBY	ACCOUNTING MANAGER	40.00	Officer	$62,692	$6,710	$69,402
TAMMY TOMPKINS	EXECUTIVE VP	40.00	Highest	$126,616	$22,773	$149,389

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	$8,584,219	$7,753,552	$153,494,407	$830,667
2023	$7,727,831	$6,894,253	$152,883,968	$833,578
2022	$6,550,860	$5,804,324	$160,295,625	$746,536
2021	$5,898,186	$5,426,048	$159,492,390	$472,138
2020	$5,655,944	$5,308,939	$143,433,390	$347,005
2019	$5,659,292	$5,087,224	$118,007,911	$572,068
2018	$5,246,095	$4,572,544	$112,311,767	$673,551

CREDIT UNION CHARTERED IN THE STATE OF MI 806 FAMILY FINANCIAL CREDIT UNION