CITIES CREDIT UNION

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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

1936

Legal Domicile

Principal Officer

MIKE ENRIGHT

Phone

6514263773

Tax Period

2024-01-01 to 2024-12-31

CITIES CREDIT UNION, founded in 1936, is a community nonprofit that reported $1.5M in total revenue in fiscal year 2024. Expenses of $2.2M exceeded revenue, resulting in a 45% operating deficit.

Mission

NEIGHBORLY, COMFORTABLE, FUN AND RIGHTHEARTED SERVICE. OFFERS HUMBLE GUIDANCE TO MEMBERS.

Program Service Accomplishments

Program 1

THE CREDIT UNION HAS VARIOUS TYPES OF DEPOSIT ACCOUNTS AVAILABLE TO OUR MEMBERS. WE OPENED 85 NEW DEPOSIT ACCOUNTS IN 2024. AS OF 12/31/24 WE HAD 2,396 MEMBERS.

Program 2

THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 182 NEW LOANS DURING 2024. AS OF 12/31/24 WE HAD 48,886 LOANS RECEIVABLE OUTSTANDING.

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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 $1,077,405

Investment Income $365,793

Other Revenue $58,596

TOTAL REVENUE $1,501,794

Expense Breakdown

Grants Paid $0

Salaries & Benefits $440,566

Fundraising Expenses $0

Other Expenses $1,740,397

TOTAL EXPENSES $2,180,963

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,501,794	$1,489,903	+0.0%
Expenses	$2,180,963	$1,495,497	+0.5%
Net Income	$-679,169	$-5,594	+120.4%

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

N/A

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

$251,398

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KRISTINE HEUER	VICE PRESIDE	40.00	Officer	$110,763	$15,995	$126,758
MIKE ENRIGHT	PRESIDENT	40.00	Officer	$109,613	$15,027	$124,640
DANIEL PEDERSON	CHAIR	1.00	Officer Director	$0	$0	$0
JOAN SIEGFRIED	VICE CHAIR	1.00	Officer Director	$0	$0	$0
JAMES WALKER	SECRETARY	1.00	Officer Director	$0	$0	$0
THOMAS BROCKWAY	DIRECTOR	1.00	Director	$0	$0	$0
JAMES ARTHE	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD LARSON	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	$1,501,794	$2,180,963	No data	$-679,169
2023	$1,489,903	$1,495,497	$34,334,348	$-5,594
2022	$1,467,709	$1,445,423	$37,961,220	$22,286
2021	$1,272,325	$1,247,014	$36,503,066	$25,311
2020	$1,330,376	$1,319,417	$34,534,584	$10,959
2019	$1,467,259	$1,405,020	$30,248,557	$62,239
2018	$1,433,007	$1,348,520	$29,352,020	$84,487