FIRST AREA CREDIT UNION (EIN 381719216) - 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

1961

Legal Domicile

Principal Officer

LYNN MCCOY

Phone

9897811430

Tax Period

2024-01-01 to 2024-12-31

FIRST AREA CREDIT UNION, founded in 1961, is a community nonprofit that reported $1.8M in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion.

Mission

YOUR FINANCIAL PARTNER PROVIDING PERSONAL COMMUNITY AND INNOVATIVE SERVICE

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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 $1,306,370

Investment Income $454,311

Other Revenue $-7,010

TOTAL REVENUE $1,753,671

Expense Breakdown

Grants Paid $0

Salaries & Benefits $517,496

Fundraising Expenses $0

Other Expenses $1,306,629

TOTAL EXPENSES $1,824,125

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,753,671	$1,583,444	+0.1%
Expenses	$1,824,125	$1,508,250	+0.2%
Net Income	$-70,454	$75,194	-1.9%

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

$123,631

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LYNN MCCOY	CEO	40.00	Officer	$104,215	$19,416	$123,631
CARI SHANKS	Secretary	1.00	Director	$0	$0	$0
LINDA PARSON	Director	1.00	Director	$0	$0	$0
JAMES THEISEN JR	Chairman	1.00	Director	$0	$0	$0
MATTHEW WURTZEL	Treasurer	1.00	Director	$0	$0	$0
BEVERLY LUMSDEN	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	$1,753,671	$1,824,125	$40,090,569	$-70,454
2023	$1,583,444	$1,508,250	$41,370,226	$75,194
2022	$1,424,449	$1,267,614	$44,580,717	$156,835
2021	$1,377,061	$1,369,209	$44,790,042	$7,852
2020	$1,408,913	$1,333,451	$38,389,981	$75,462
2019	$1,530,202	$1,435,962	$30,454,906	$94,240
2018	$1,485,590	$1,375,981	$30,180,529	$109,609

FIRST AREA CREDIT UNION