NEIGHBORHOOD 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

1930

Legal Domicile

Principal Officer

CHET KIMMELL

Phone

2147489393

Tax Period

2024-01-01 to 2024-12-31

NEIGHBORHOOD CREDIT UNION, founded in 1930, is a mid-sized nonprofit that reported $79.5M in total revenue in fiscal year 2024. Revenue grew 17% year-over-year, indicating healthy expansion. Expenses of $75.2M left a modest 5% surplus.

Mission

A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS, CREATING A SOURCE OF CREDIT FOR THEM AT RATES OF INTEREST SET BY THE BOARD OF DIRECTORS, AND PROVIDING AN OPPORTUNITY FOR THEM TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. AS A COOPERATIVE, NEIGHBORHOOD CREDIT UNION CONDUCTS ITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITS MEMBERS WITH THE EARNINGS, SAVINGS, BENEFITS, OR SERVICES OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS.

Program Service Accomplishments

Program 1

NEIGHBORHOOD CREDIT UNION PROVIDES A VARIETY OF LOANS INCLUDING AUTO, MORTGAGES, CREDIT CARD, AND UNSECURED AT COMPETITIVE RATES FOR OUR MEMBERSHIP, THEREBY, ASSISTING THEM IN MANAGING THEIR...

NEIGHBORHOOD CREDIT UNION PROVIDES A VARIETY OF LOANS INCLUDING AUTO, MORTGAGES, CREDIT CARD, AND UNSECURED AT COMPETITIVE RATES FOR OUR MEMBERSHIP, THEREBY, ASSISTING THEM IN MANAGING THEIR FINANCIAL HEALTH AND GROWTH IN THE FUTURE.

Program 2

NEIGHBORHOOD CREDIT UNION PROVIDES A VARIETY OF SAVINGS ACCOUNTS INCLUDING SAVINGS, CHECKING, MONEY MARKET, IRAS, CERTIFICATES AND INVESTMENTS AT COMPETITIVE RATES FOR OUR MEMBERSHIP, THEREBY...

NEIGHBORHOOD CREDIT UNION PROVIDES A VARIETY OF SAVINGS ACCOUNTS INCLUDING SAVINGS, CHECKING, MONEY MARKET, IRAS, CERTIFICATES AND INVESTMENTS AT COMPETITIVE RATES FOR OUR MEMBERSHIP, THEREBY, ASSISTING THEM IN MANAGING THEIR FINANCIAL HEALTH AND GROWTH IN THE FUTURE.

Program 3

NEIGHBORHOOD CREDIT UNION PROVIDES INVESTMENT OPPORTUNITIES AND PLANNING TO OUR MEMBERSHIP, THEREBY, ASSISTING THEM IN MANAGING THEIR FINANCIAL HEALTH AND GROWTH IN THE FUTURE.

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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 $71,529,029

Investment Income $7,994,198

Other Revenue $0

TOTAL REVENUE $79,523,227

Expense Breakdown

Grants Paid $46,550

Salaries & Benefits $19,328,961

Fundraising Expenses $0

Other Expenses $55,839,778

TOTAL EXPENSES $75,215,289

Year-over-Year Comparison

	2024	2023	Change
Revenue	$79,523,227	$68,073,576	+0.2%
Expenses	$75,215,289	$64,656,846	+0.2%
Net Income	$4,307,938	$3,416,730	+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

261

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

$1,513,740

Total Directors

$59,719

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DWAYNE BOOZER	CHAIRPERSON	3.00	Director	$11,134	$0	$11,134
JOHN LOGAN	VICE CHAIRPERSON	3.00	Director	$12,000	$0	$12,000
CLARISSA SALAS	SECRETARY/TREASURER	3.00	Director	$6,762	$0	$6,762
ARTHUR YOUNG	BOARD MEMBER	3.00	Director	$7,485	$0	$7,485
RANDY TILL	BOARD MEMBER	3.00	Director	$8,176	$0	$8,176
JANIS FRUM	BOARD MEMBER	3.00	Director	$7,034	$0	$7,034
RONALD TAYLOR	BOARD MEMBER	3.00	Director	$7,128	$0	$7,128
CHESTER KIMMELL	PRESIDENT/CEO	40.00	Officer	$564,896	$43,493	$608,389
JAMES FRANKEBERGER	CFO	40.00	Officer	$374,079	$47,828	$421,907
CAROLYN JORDAN	CGO	40.00	Officer	$254,547	$22,284	$276,831
KELLY GIDNEY	CRO	40.00	Officer	$185,321	$21,292	$206,613
FRANCIS SANTANA	SVP, RETAIL & BUSINESS DEVELOPMENT	40.00	Highest	$286,510	$46,224	$332,734
RONALD NEWLIN	PRESIDENT, NTXCA	40.00	Highest	$219,018	$25,440	$244,458
CARRIE PESCATELLO	VP, BRANCH EXPERIENCE	40.00	Highest	$185,321	$21,424	$206,745
YVONNE SCHMITZ	SVP, INFORMATION TECHNOLOGY	40.00	Highest	$174,710	$47,683	$222,393
RANI CRAFT	VP, HUMAN RESOURCES & TRAINING	40.00	Highest	$154,420	$24,387	$178,807

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	$79,523,227	$75,215,289	$1,122,549,138	$4,307,938
2023	$68,073,576	$64,656,846	$1,080,041,520	$3,416,730
2022	$57,236,238	$47,091,499	$1,091,093,694	$10,144,739
2021	$52,511,237	$42,491,331	$1,066,752,639	$10,019,906
2020	$51,110,314	$44,690,654	$943,015,270	$6,419,660
2019	$51,652,385	$44,383,371	$810,062,773	$7,269,014
2018	$46,069,810	$39,190,919	$715,246,878	$6,878,891