MUSKEGON, MI
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)BEST FINANCIAL CREDIT UNION, founded in 1955, is a community nonprofit that reported $8.3M in total revenue in fiscal year 2023. Revenue grew 16% year-over-year, indicating healthy expansion. Expenses of $8.0M left a modest 4% surplus.
THE PURPOSE OF THE CREDIT UNION IS TO ENCOURAGE THRIFT AND SAVINGS BY CREATING A SOURCE OF CREDIT AT FAIR AND REASONABLE RATES AND PROMOTE SAVINGS AT A REASONABLE RATE OF INTEREST.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2023 | 2022 | Change | |
|---|---|---|---|
| Revenue | $8,284,218 | $7,151,929 | +0.2% |
| Expenses | $7,986,478 | $6,370,309 | +0.3% |
| Net Income | $297,740 | $781,620 | -0.6% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| PAUL HOPPA | SECRETARY | 1.00 |
Director
|
$0 | $0 | $0 |
| JAMIE STAHL | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| SHONTAYE WITCHER | TREASURER | 1.00 |
Director
|
$0 | $0 | $0 |
| DAVID MIERAS | VICE CHAIRPERSON | 1.00 |
Director
|
$0 | $0 | $0 |
| SHELLEY PEETS | CHAIRPERSON | 1.00 |
Director
|
$0 | $0 | $0 |
| TAYLOR ADAMS | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| TIMOTHY BURGESS | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| MEAGAN WACHTER | CHAIR SUPERVISORY COMMITTE | 1.00 |
Director
|
$0 | $0 | $0 |
| AUSTIN RANKIN | SUPERVISORY COMMITTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| MARY HEETHOUSE | SUPERVISORY COMMITTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| CATHERINE KLOSKA | SUPERVISORY COMMITTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| MORGAN RESCORLA | PRESIDENT/CEO | 50.00 |
Officer
|
$238,123 | $63,211 | $301,334 |
| MICHAEL VERSTRAETE | CFO | 50.00 |
Officer
|
$138,972 | $46,251 | $185,223 |
| RANDI SHEFFER | COO | 50.00 |
Officer
|
$105,062 | $22,467 | $127,529 |
| CHARLES RITTER | AGENCY PRINCIPAL | 50.00 |
Highest
|
$101,016 | $9,078 | $110,094 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | No data | No data | No data | No data |
| 2023 | $8,284,218 | $7,986,478 | $139,035,538 | $297,740 |
| 2022 | $7,151,929 | $6,370,309 | $137,728,390 | $781,620 |
| 2021 | $6,644,465 | $5,722,465 | $124,604,613 | $922,000 |
| 2020 | $5,881,103 | $5,005,864 | $116,774,846 | $875,239 |
| 2019 | $5,807,647 | $4,962,062 | $93,240,872 | $845,585 |
| 2018 | $5,196,288 | $4,445,431 | $89,173,892 | $750,857 |
Compare BEST FINANCIAL CREDIT UNION with other nonprofits in Michigan and across the country.