CREDIT UNIONS CHARTERED IN THE 115 LINCOLN PARK COMMUNITY CREDIT UNION

EIN: 381710394

LINCOLN PARK, MI

Total Revenue
$2,488,391
Total Expenses
$1,955,409
Total Assets
$63,492,002
Net Assets
$5,309,167
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1936
Legal Domicile
MI
Principal Officer
CRYSTAL HENNIG
Phone
3133892300
Tax Period
2024-01-01 to 2024-12-31

CREDIT UNIONS CHARTERED IN THE 115 LINCOLN PARK COMMUNITY CREDIT UNION, founded in 1936, is a community nonprofit that reported $2.5M in total revenue in fiscal year 2024. The organization ran a surplus of $533K, a strong 21% operating margin.

Mission

TO PROMOTE SAVINGS AMONG OUR MEMBERS, PROVIDE CREDIT FOR PRODUCTIVE PURPOSES AND DELIVER SECURE TECHNOLOGICALLY ADVANCED SERVICES.

Program Service Accomplishments

Program 1

THE CREDIT UNION PROVIDES SEVERAL DEPOSIT ACCOUNT TYPES TO MEMBERS INCLUDING SAVINGS, CHECKING, CERTIFICATES AND OTHER. THE TOTAL NUMBER OF MEMBERS AT 12/31/2024 WAS 2,908.

Program 2

THE CREDIT UNION PROVIDES A VARIETY OF LOANS TO MEMBERS INCLUDING REAL ESTATE, CREDIT CARD, VEHICLE AND OTHER. THE TOTAL NUMBER OF MEMBER LOANS OUTSTANDING AT 12/31/2024 WAS 1,134.

Program 3

OFFER ATM/DEBIT CARD PROGRAM, CHECK CASHING, MONEY ORDER, NO SURCHARGE ATMS, NO COST BILL PAYER, OVERDRAFT LINES OF CREDIT, OVERDRAFT PROTECTION.COURTESY PAY, AND VARIOUS INSURANCE PROGRAMS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $918,071
Investment Income $1,570,320
Other Revenue $0
TOTAL REVENUE $2,488,391

Expense Breakdown

Grants Paid $0
Salaries & Benefits $537,261
Fundraising Expenses $0
Other Expenses $1,418,148
TOTAL EXPENSES $1,955,409

Year-over-Year Comparison

2024 2023 Change
Revenue $2,488,391 $2,305,109 +0.1%
Expenses $1,955,409 $1,700,109 +0.2%
Net Income $532,982 $605,000 -0.1%
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

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Liquidity & Cash Position

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Governance

Voting Members
7
Independent Members
6
Employees
8
Volunteers
6

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
1
$119,902
Total Directors
7
$119,902
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CRYSTAL HENNIG CEO 40.00
Officer Director
$109,263 $10,639 $119,902
MATTHEW KAMINSKI Director 1.00
Director
$0 $0 $0
PATRICIA LULKO Director 1.00
Director
$0 $0 $0
THOMAS KARNES Chairman 1.00
Director
$0 $0 $0
ROBERT STEELE Director 1.00
Director
$0 $0 $0
SCOTT LAVIS Director 1.00
Director
$0 $0 $0
DENNIS ANDERSON Director 1.00
Director
$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
2024 $2,488,391 $1,955,409 $63,492,002 $532,982
2023 $2,305,109 $1,700,109 $63,630,384 $605,000
2022 $2,035,321 $1,580,113 $65,158,400 $455,208
2021 $1,731,708 $1,625,683 $70,449,889 $106,025
2020 $1,792,571 $1,728,472 $67,224,435 $64,099
2019 $1,828,134 $1,729,215 $54,191,785 $98,919
2018 $1,887,371 $1,724,424 $52,662,632 $162,947
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