LIBERTY FIRST 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

1935

Legal Domicile

Principal Officer

Frank Wilber

Phone

4024651000

Tax Period

2024-01-01 to 2024-12-31

LIBERTY FIRST CREDIT UNION, founded in 1935, is a mid-sized nonprofit that reported $37.0M in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion. The organization ran a surplus of $6.7M, a strong 18% operating margin.

Mission

Providing service for lifetime financial solutions

Program Service Accomplishments

Program 1

The Credit Union provides several deposit account types to members, including savings, checking, certificates, and others. The total number of members at this time was 33,792. The total number of...

The Credit Union provides several deposit account types to members, including savings, checking, certificates, and others. The total number of members at this time was 33,792. The total number of member accounts was 62,244.

Program 2

The Credit Union provides a variety of loans to members, including real estate, credit card, vehicle, and others. The total number of loan outstanding at this time was 20,758.

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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 $33,147,611

Investment Income $3,844,613

Other Revenue $0

TOTAL REVENUE $36,992,224

Expense Breakdown

Grants Paid $0

Salaries & Benefits $10,460,750

Fundraising Expenses $0

Program Expenses $0

Other Expenses $19,852,180

TOTAL EXPENSES $30,312,930

Year-over-Year Comparison

	2024	2023	Change
Revenue	$36,992,224	$32,931,650	+0.1%
Expenses	$30,312,930	$26,796,059	+0.1%
Net Income	$6,679,294	$6,135,591	+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

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

143

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

$2,138,838

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Frank Wilber	CEO/President	50	Officer	$1,100,325	$34,612	$1,134,937
Paul Erickson	CIO	50	Officer	$299,965	$28,210	$328,175
Angie Schreiner	SVP of Marketing	50	Officer	$224,671	$26,291	$250,962
Dillon Ehmen	SVP of Operations	50	Officer	$213,832	$26,434	$240,266
Kevin Frenzel	SVP of Sales, Service and Lending	50		$222,231	$17,800	$240,031
Tyler Groskurth	Mortgage Loan Officer	40	Highest	$169,016	$18,018	$187,034
Ryan Morris	SVP of Finance	50	Officer	$164,406	$20,092	$184,498
Jason Bell	Mortgage Loan Officer	40	Highest	$149,713	$16,509	$166,222
Blake Nelson	Director of Security	45	Highest	$120,844	$15,719	$136,563
Courtney Jobes	Mortgage Underwriter	40	Highest	$104,701	$9,629	$114,330
Daniel Radtke	AVP of Operations	45	Highest	$105,362	$8,239	$113,601
Tom Bolton	Board Chair	2	Director	$0	$0	$0
Lloyd Starkey Jr	Board Treasurer	2	Director	$0	$0	$0
Mark Bostock	Board Secretary	1	Director	$0	$0	$0
Michael Hobelman	Director	1	Director	$0	$0	$0
Kersi Pajnigar	Director	1	Director	$0	$0	$0
Rick Batten	Director	1	Director	$0	$0	$0
Tim Keelan	Director	1	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
2025	No data	No data	No data	No data
2024	$36,992,224	$30,312,930	$484,609,576	$6,679,294
2023	$32,931,650	$26,796,059	$452,189,917	$6,135,591
2022	$27,495,724	$21,808,431	$422,383,303	$5,687,293
2021	$27,721,129	$21,594,477	$400,479,429	$6,126,652
2020	$28,869,899	$23,486,650	$352,464,197	$5,383,249
2019	$24,765,581	$20,354,805	$305,462,233	$4,410,776
2018	$21,949,601	$17,931,058	$270,341,059	$4,018,543
2018	$21,949,601	$17,931,058	$270,341,059	$4,018,543
2017	$18,518,312	$15,284,320	$253,378,755	$3,233,992
2016	$16,500,918	$14,179,544	$223,579,835	$2,321,374