FIREMANS 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

1929

Legal Domicile

Principal Officer

CHRISTOPHER AMMONS

Phone

2052526083

Tax Period

2023-01-01 to 2023-12-31

FIREMANS CREDIT UNION, founded in 1929, is a small nonprofit that reported $367K in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion. The organization ran a surplus of $95K, a strong 26% operating margin.

Mission

COOPERATIVE SOCIETY INCORPORATED FOR THE TWOFOLD PURPOSE OF PROMOTING THRIFT AMONG ITS MEMBERS AND CREATING A SOURCE OF CREDIT FOR THEM AT LEGITIMATE RATES OF INTEREST.

Program Service Accomplishments

Program 1

ALABAMA BANKING CODE, SECTION 5-17-1, STATES THAT A CREDIT UNION IS A COOPERATIVE SOCIETY INCORPORATED FOR THE TWOFOLD PURPOSE OF PROMOTING THRIFT AMONG ITS MEMBERS AND CREATING A SOURCE OF CREDIT...

ALABAMA BANKING CODE, SECTION 5-17-1, STATES THAT A CREDIT UNION IS A COOPERATIVE SOCIETY INCORPORATED FOR THE TWOFOLD PURPOSE OF PROMOTING THRIFT AMONG ITS MEMBERS AND CREATING A SOURCE OF CREDIT FOR THEM AT LEGITIMATE RATES OF INTEREST. FIREMAN'S CREDIT UNION, AN ALABAMA STATE CHARTERED CREDIT UNION, WAS ESTABLISHED TO PROVIDE THESE SERVICES TO ITS MEMBERS, WHO ARE EMPLOYEES AND THEIR RELATIVES OF THE CITY OF BIRMINGHAM FIRE DEPARTMENT. AS OF DECEMBER 31, 2023, THE CREDIT UNION HAD MEMBERSHIP AND PROVIDED SERVICES TO APPROXIMATELY 876 MEMBERS.

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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 $0

Program Service Revenue $367,477

Investment Income $0

Other Revenue $0

TOTAL REVENUE $367,477

Expense Breakdown

Grants Paid $0

Salaries & Benefits $88,364

Fundraising Expenses $0

Other Expenses $183,901

TOTAL EXPENSES $272,265

Year-over-Year Comparison

	2023	2022	Change
Revenue	$367,477	$333,232	+0.1%
Expenses	$272,265	$243,451	+0.1%
Net Income	$95,212	$89,781	+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

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

$31,200

Total Directors

$58,500

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHRISTOPHER AMMONS	CEO, BOARD TREASURER & SECRETARY	22.00	Officer Director	$31,200	$0	$31,200
JULIUS PURIFIE	BOARD CHAIRPERSON	1.00	Director	$0	$0	$0
DECIMUS WILLIAMSON	DIRECTOR	1.00	Director	$0	$0	$0
JOSEPH RICHARDSON	SUPERVISORY COMMITTEE MEMB	1.00	Director	$0	$0	$0
RICKY GREEN	SUPERVISORY COMMITTEE MEMB	1.00	Director	$0	$0	$0
MATTHEW LAMONTE	BOARD VICE CHAIRPERSON	1.00	Director	$0	$0	$0
JASON DAVIS	BOARD MEMBER	18.00	Director	$27,300	$0	$27,300
TONY MANZELLA	SUPERVISORY COMMITTEE CHAIR	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	No data	No data	No data	No data
2023	$367,477	$272,265	$7,122,981	$95,212
2022	$333,232	$243,451	$7,130,665	$89,781
2021	$334,494	$222,993	$7,123,741	$111,501
2020	$380,091	$239,187	$6,649,527	$140,904
2019	$397,354	$243,569	$6,377,866	$153,785
2018	$398,058	$232,029	$5,821,669	$166,029