Financial One Credit Union (EIN 410644981) - 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

1933

Legal Domicile

Phone

7634047600

Tax Period

2022-01-01 to 2022-09-30

Financial One Credit Union, founded in 1933, is a community nonprofit that reported $8.4M in total revenue in fiscal year 2022. Revenue fell 25% from the prior year — a significant decline worth monitoring.

Mission

It is a cooperative member-owned and controlled organization dedicated to improving the economic well-being of its members by providing comprehensive financial services

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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 (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $8,281,072

Investment Income $122,602

Other Revenue $0

TOTAL REVENUE $8,403,674

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,678,035

Fundraising Expenses $0

Other Expenses $5,479,496

TOTAL EXPENSES $8,844,239

Year-over-Year Comparison

	2022	2021	Change
Revenue	$8,403,674	$11,270,296	-0.3%
Expenses	$8,844,239	$7,851,186	+0.1%
Net Income	$-440,565	$3,419,110	-1.1%

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

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

N/A

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

$675,705

Total Directors

$23,703

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Ross Bloomquist	President & CEO	50.00	Officer	$231,748	$0	$231,748
Lacey Mack	CLO	50.00	Officer	$166,186	$0	$166,186
Deb Connell	CFO	50.00	Officer	$156,582	$0	$156,582
RENATO PIEDADE	CIO	50.00	Officer	$121,189	$0	$121,189
Donald Mosher	Secretary	4.00	Director	$3,250	$0	$3,250
JEANETTE ERICKSON	Member	4.00	Director	$3,225	$0	$3,225
MICHELLE HUDAK	Member	4.00	Director	$3,175	$0	$3,175
Kenneth Gauvin	Vice Chairman	3.00	Director	$2,550	$0	$2,550
JAMES HUFF	Director	3.00	Director	$2,238	$0	$2,238
Milo Hartmann	Director	3.00	Director	$1,938	$0	$1,938
Allan Stahlberg	Director	3.00	Director	$1,813	$0	$1,813
Janice Schwieger	Director	3.00	Director	$1,663	$0	$1,663
JAMES SANDOVOLD	Director	3.00	Director	$1,613	$0	$1,613
Lori Nissen	Director	3.00	Director	$1,513	$0	$1,513
ROBERT FISCHER	MEMBER	4.00	Director	$725	$0	$725
Joann Cirks	Chairman	3.00	Director	$0	$0	$0
TODD SANDERS	COO	50.00		$0	$0	$0
ROBIN KIRNYCZUK	MEMBER	4.00		$0	$0	$0
JOANN CIRKS	CHAIRMAN	3.00		$0	$0	$0
ROBERT FISCHER	MEMBER	4.00		$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
2022	$8,403,674	$8,844,239	No data	$-440,565
2021	$11,270,296	$7,851,186	$196,661,798	$3,419,110
2020	$10,315,691	$8,689,824	$169,305,185	$1,625,867
2019	$10,178,111	$8,773,457	$148,215,939	$1,404,654
2018	$9,067,330	$7,433,068	$132,922,054	$1,634,262

Financial One Credit Union