CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN (EIN 381545237) - 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

1953

Legal Domicile

Principal Officer

Teresa Mayer

Phone

2317984321

Tax Period

2021-01-01 to 2021-04-30

CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN, founded in 1953, is a community nonprofit that reported $1.2M in total revenue in fiscal year 2020. Revenue fell 59% from the prior year — a significant decline worth monitoring. Expenses of $1.4M exceeded revenue, resulting in a 22% operating deficit.

Mission

First General Credit Union pledges to be your financial partner for life.

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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 (2020)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $635,028

Investment Income $64,430

Other Revenue $454,263

TOTAL REVENUE $1,153,721

Expense Breakdown

Grants Paid $0

Salaries & Benefits $236,977

Fundraising Expenses $0

Program Expenses $0

Other Expenses $1,173,174

TOTAL EXPENSES $1,410,151

Year-over-Year Comparison

	2020	2019	Change
Revenue	$1,153,721	$2,834,820	-0.6%
Expenses	$1,410,151	$2,676,233	-0.5%
Net Income	$-256,430	$158,587	-2.6%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Charlotte Pearson	Chairman	1	Director	$0	$0	$0
Mason Toothman	Vice Chairman	1	Director	$0	$0	$0
Susan Gonder	Secretary	1	Director	$0	$0	$0
Deborah Crockett	Treasurer	1	Director	$0	$0	$0
Oneata Bailey	Director	1	Director	$0	$0	$0
Teresa Mayer	Interim CEO	40	Officer	$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
2021	$1,153,721	$1,410,151	No data	$-256,430
2020	$2,834,820	$2,676,233	$59,646,694	$158,587
2019	$2,817,087	$3,267,115	$54,615,775	$-450,028

CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN