FIRST COMMERCE CREDIT UNION (EIN 590687423) - 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

1940

Legal Domicile

Principal Officer

CECILIA HOMISON

Phone

8504880035

Tax Period

2023-01-01 to 2023-12-31

FIRST COMMERCE CREDIT UNION, founded in 1940, is a mid-sized nonprofit that reported $61.0M in total revenue in fiscal year 2023. Revenue surged 23% from the prior year, signaling strong growth momentum. Expenses of $55.1M left a modest 10% surplus.

Mission

TO PROVIDE SERVICES AND EDUCATION TO MEMBERS IN THE FRAMEWORK OF A FINANCIAL COOPERATIVE.

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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 $433,000

Program Service Revenue $52,995,615

Investment Income $7,399,280

Other Revenue $129,043

TOTAL REVENUE $60,956,938

Expense Breakdown

Grants Paid $56,000

Salaries & Benefits $16,458,091

Fundraising Expenses $0

Other Expenses $38,555,866

TOTAL EXPENSES $55,069,957

Year-over-Year Comparison

	2023	2022	Change
Revenue	$60,956,938	$49,452,473	+0.2%
Expenses	$55,069,957	$41,095,263	+0.3%
Net Income	$5,886,981	$8,357,210	-0.3%

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

289

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

$1,339,412

Total Directors

Key Employees

$1,035,469

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALAN NEUBAUER	BOD CHAIRPERSON	1.00	Director	$0	$0	$0
KATHY ARRANT	BOD TREASURER	1.00	Director	$0	$0	$0
SHONDA KNIGHT	BOD DIRECTOR	1.00	Director	$0	$0	$0
JOHN GRAYSON	BOD SECRETARY	1.00	Director	$0	$0	$0
JERRY OSTERYOUNG	BOD DIRECTOR	1.00	Director	$0	$0	$0
CANITA PETERSON	BOD VICE CHAIRPERSON	1.00	Director	$0	$0	$0
CASEY STOUTAMIRE	BOD DIRECTOR	1.00	Director	$0	$0	$0
CECILIA D HOMISON	CEO	40.00	Officer	$661,240	$32,600	$693,840
DENNIS G ADAMS	SENIOR EXECUTIVE VICE PRES	40.00	Officer	$392,391	$31,866	$424,257
ANGELA TERHUNE	CFO	40.00	Officer	$201,655	$19,660	$221,315
KIMBERLY S HOWES	COO	40.00	Key Emp	$291,533	$15,886	$307,419
JUSTIN HOF	CHIEF INFORMATION OFFICER	40.00	Key Emp	$269,630	$18,228	$287,858
AMY K GROFF	CHIEF PEOPLE OFFICER	40.00	Key Emp	$224,546	$73	$224,619
MARY B ESTES	EXECUTIVE VICE PRESIDENT	40.00	Key Emp	$213,093	$2,480	$215,573
BARBARA WILLIAMS-ANDERSON	MARKET EXECUTIVE	40.00	Highest	$186,464	$16,304	$202,768
STEVEN REYNOLDS	VICE PRESIDENT OF BUSINESS	40.00	Highest	$163,595	$21,593	$185,188
WILMA T WOOTEN	CONTROLLER	40.00	Highest	$162,872	$16,663	$179,535
JOY SANDERS	VICE PRESIDENT OF MEMBER S	40.00	Highest	$158,607	$26,335	$184,942
WARREN SUMNER	DIRECTOR OF LENDING	40.00	Highest	$157,185	$21,940	$179,125

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	No data	No data	No data	No data
2023	$60,956,938	$55,069,957	$1,069,625,273	$5,886,981
2022	$49,452,473	$41,095,263	$1,014,264,212	$8,357,210
2021	$46,857,921	$39,411,572	$972,658,522	$7,446,349
2020	$47,845,792	$44,728,914	$919,350,223	$3,116,878
2019	$39,613,609	$35,355,027	$615,519,411	$4,258,582
2018	$36,489,769	$32,657,054	$606,327,093	$3,832,715

FIRST COMMERCE CREDIT UNION