GRAND RAPIDS, MI
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN, founded in 1956, is a community nonprofit that reported $3.8M in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $3.3M left a modest 13% surplus.
TO EXCEED EXPECTATIONS IN EVERY INTERACTION AND INSPIRE OUR NEIGHBORS TO ACHIEVE FINANCIAL STABILITY AND SUCCESS.
PROVIDE 5,088 MEMBERS WITH SAVINGS, SHARE DRAFT, HIGH YIELD SHARES, VACATION AND CHRISTMAS CLUB, BUSINESS AND FIDUCIARY ACCOUNTS, CERTIFICATES OF DEPOSIT, IRAS AND MONEY MARKET ACCOUNTS WITH...
PROVIDE 5,088 MEMBERS WITH SAVINGS, SHARE DRAFT, HIGH YIELD SHARES, VACATION AND CHRISTMAS CLUB, BUSINESS AND FIDUCIARY ACCOUNTS, CERTIFICATES OF DEPOSIT, IRAS AND MONEY MARKET ACCOUNTS WITH AGGREGATE BALANCES THAT APPROXIMATED $64,064,000 AS OF DECEMBER 31, 2023.
PROVIDE 3,153 LOANS INCLUDING HOME EQUITY, SHARE SECURED, FIRST MORTGAGE, CREDIT CARD, UNSECURED, NEW AND USED VEHICLE, RECREATIONAL VEHICLES, AND LINE OF CREDIT. TOTAL LOAN BALANCES APPROXIMATED...
PROVIDE 3,153 LOANS INCLUDING HOME EQUITY, SHARE SECURED, FIRST MORTGAGE, CREDIT CARD, UNSECURED, NEW AND USED VEHICLE, RECREATIONAL VEHICLES, AND LINE OF CREDIT. TOTAL LOAN BALANCES APPROXIMATED $42,759,000 AS OF DECEMBER 31, 2023.
OFFER ATM AND DEBIT CARDS, SHARED BRANCHING, MONEY ORDERS, BILL PAY, CHECK CASHING, WIRE TRANSFERS, BILINGUAL SERVICES AND INSURANCE PRODUCTS.
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 | $3,827,815 | $3,505,118 | +0.1% |
| Expenses | $3,337,276 | $2,944,229 | +0.1% |
| Net Income | $490,539 | $560,889 | -0.1% |
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 |
|---|---|---|---|---|---|---|
| JON DENHOF | CHAIRPERSON | 1.00 |
Director
|
$0 | $0 | $0 |
| ELIZABETH WINNINGER | VICE CHAIRPERSON | 1.00 |
Director
|
$0 | $0 | $0 |
| VICKI SEIDL | TREASURER | 1.00 |
Director
|
$0 | $0 | $0 |
| KRISTIAN DANIEL | SECRETARY | 1.00 |
Director
|
$0 | $0 | $0 |
| DANIEL KENT | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| DANIEL KENDALL | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| AL JANO | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| BARBARA PAGE | SPECIAL PROJECT COORDINATOR (EFF. APRIL 2023) | 45.00 |
Officer
|
$136,006 | $23,867 | $159,873 |
| KRISTEN PLICHTA | PRESIDENT/CEO | 60.00 |
Officer
|
$131,974 | $17,009 | $148,983 |
| TRACY ELMORABETI | VP OF ACCOUNTING | 45.00 |
Officer
|
$86,560 | $20,865 | $107,425 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | No data | No data | No data | No data |
| 2023 | $3,827,815 | $3,337,276 | $72,187,777 | $490,539 |
| 2022 | $3,505,118 | $2,944,229 | $72,689,468 | $560,889 |
| 2021 | $3,214,138 | $2,598,699 | $70,844,245 | $615,439 |
| 2020 | $3,149,313 | $2,680,370 | $59,919,891 | $468,943 |
| 2019 | $3,088,747 | $2,501,045 | $48,974,236 | $587,702 |
| 2018 | $2,813,460 | $2,391,149 | $47,678,505 | $422,311 |
Compare CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN with other nonprofits in Michigan and across the country.