1st Choice Credit Union (EIN 586035220) - 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

1946

Legal Domicile

Tax Period

2023-01-01 to 2023-12-31

1st Choice Credit Union, founded in 1946, is a community nonprofit in the Public & Societal Benefit sector that reported $3.4M in total revenue in fiscal year 2023. Revenue grew 16% year-over-year, indicating healthy expansion. Expenses of $3.3M left a modest 3% surplus.

Mission

1ST CHOICE CREDIT UNION IS A NOT FOR PROFIT COOPERATIVE (OWNED BY THE MEMBERS), FINANCIAL INSTITUTION ORGANIZED TO PROMOTE THRIFT AND PROVIDE CREDIT TO MEMBERS AT BETTER RATES THAN THOSE AVAILABLE FROM OTHER SOURCES.

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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 (2023)

Revenue Breakdown

Contributions & Grants $635,665

Program Service Revenue $2,154,834

Investment Income $356,727

Other Revenue $251,314

TOTAL REVENUE $3,398,540

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,137,595

Fundraising Expenses $0

Other Expenses $2,152,069

TOTAL EXPENSES $3,289,664

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,398,540	$2,929,507	+0.2%
Expenses	$3,289,664	$2,273,779	+0.4%
Net Income	$108,876	$655,728	-0.8%

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

6827

Independent Members

6827

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

$203,206

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Dina Hairston	COO	0.00	Officer	$156,583	$0	$156,583
Claudie Johnson	CEO	0.00	Officer	$46,623	$0	$46,623
Paresh Patel	Technology Committee Chair	3.00	Director	$0	$0	$0
Sheilah Montgomery	Board Secretary	3.00	Director	$0	$0	$0
Charlene Turner	Director	3.00	Director	$0	$0	$0
Howard Mosby	Chairman of the Board	3.00	Director	$0	$0	$0
James E Wright Sr	Nominating Committee Chair	3.00	Director	$0	$0	$0
Reginald Lindsay	Credit Committee Chair	3.00	Director	$0	$0	$0
Eddie Cheung	Supervisory Committee Chair	3.00	Director	$0	$0	$0
Alonzo Llorens	Vice Chairman	3.00	Director	$0	$0	$0
Marsha Hahn	CEO	0.00	Officer	$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
2023	$3,398,540	$3,289,664	$40,163,724	$108,876
2022	$2,929,507	$2,273,779	$38,566,816	$655,728
2021	$2,831,843	$2,263,406	$36,322,737	$568,437
2020	$1,887,301	$1,965,894	$31,721,353	$-78,593
2019	$1,718,263	$1,767,227	$25,155,828	$-48,964
2018	$1,600,147	$1,808,585	$24,777,856	$-208,438

1st Choice Credit Union