FIRST CLASS AMERICAN 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

NANCY CROIX-STROUD

Phone

8178349770

Tax Period

2021-01-01 to 2021-04-30

FIRST CLASS AMERICAN CREDIT UNION, founded in 1929, is a small nonprofit that reported $947K in total revenue in fiscal year 2021. Revenue fell 68% from the prior year — a significant decline worth monitoring. Expenses of $1.4M exceeded revenue, resulting in a 45% operating deficit.

Mission

PROVIDE MEMBERS WITH QUALITY FINANCIAL SERVICES

Program Service Accomplishments

Program 1

FIRST CLASS AMERICAN OFFERS VARIOUS TYPES OF SAVINGS PRODUCTS TO ALL ITS MEMBERS.

Program 2

FIRST CLASS AMERICAN OFFERS CHECKING PRODUCTS TO ITS MEMBERS, INCLUDING DEBIT CARDS AND ONLINE BILL PAY.

Program 3

FIRST CLASS AMERICAN OFFERS VARIOUS TYPES OF LOANS AT COMPETITIVE RATES.

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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 (2021)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $934,058

Investment Income $5,807

Other Revenue $7,484

TOTAL REVENUE $947,349

Expense Breakdown

Grants Paid $0

Salaries & Benefits $451,376

Fundraising Expenses $0

Other Expenses $919,795

TOTAL EXPENSES $1,371,171

Year-over-Year Comparison

	2021	2020	Change
Revenue	$947,349	$2,986,795	-0.7%
Expenses	$1,371,171	$2,874,976	-0.5%
Net Income	$-423,822	$111,819	-4.8%

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

Independent Members

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

$86,044

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NANCY CROIX-STROUD	PRESIDENT/CE	50.00	Officer	$81,257	$4,787	$86,044
ED DURIS	BOARD MEMBER	1.00	Director	$0	$0	$0
CHRISTIE FITE	SECRETARY	1.00	Officer Director	$0	$0	$0
KELLY INGERSOL	CHAIRPERSON/	1.00	Officer Director	$0	$0	$0
ANTHONY SANCHEZ	VICE CHAIRMA	1.00	Officer Director	$0	$0	$0
JODIE SANDERS	BOARD MEMBER	1.00	Officer 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
2021	$947,349	$1,371,171	No data	$-423,822
2020	$2,986,795	$2,874,976	$60,962,918	$111,819
2019	$2,920,629	$3,201,250	$57,348,882	$-280,621
2018	$2,910,521	$3,322,929	$55,644,604	$-412,408