CREDIT UNIONS IN THE STATE OF NEW … - Form 990 Financial Data

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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

1937

Legal Domicile

Principal Officer

YVONNE ALANIZ-CARPE

Phone

5054621115

Tax Period

2024-01-01 to 2024-12-31

CREDIT UNIONS IN THE STATE OF NEW M FIRST FINACIAL CREDIT UNION, founded in 1937, is a mid-sized nonprofit that reported $68.2M in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $65.6M left a modest 4% surplus.

Mission

FIRST FINANCIAL CREDIT UNION IS A COOPERATIVE, NOT-FOR-PROFIT FINANCIAL INSTITUTION ORGANIZED TO PROMOTE THRIFT AND PROVIDE CREDIT TO MEMBERS; AT ADVANTAGEOUS RATES OVER THOSE GENERALLY AVAILABLE FROM OTHER BANKING SOURCES.

Program Service Accomplishments

Program 1

INTEREST IS CHARGED AT MARKET RATES TO MEMBERS TO PROVIDE REVENUE TO PAY FOR THE COST OF THE FUNDS.

Program 2

FEES AND CHARGES ARE ASSESSED TO MEMBERS FOR FINANCIAL SERVICES. THESE FEES GENERATE THE REVENUE NECESSARY TO PAY THE COSTS TO PROVIDE THESE SERVICES.

Program 3

EARNINGS FROM THE INVESTMENTS. THE EXCESS OF FUNDS RECEIVED FROM MEMBERS, OVER THE AMOUNT LOANDED TO MEMBERS, AS WELL AS ACCUMULATED SURPLUS, IS INVESTED IN SECURITIES ALLOWED BY THE NCUA, AND THE...

EARNINGS FROM THE INVESTMENTS. THE EXCESS OF FUNDS RECEIVED FROM MEMBERS, OVER THE AMOUNT LOANDED TO MEMBERS, AS WELL AS ACCUMULATED SURPLUS, IS INVESTED IN SECURITIES ALLOWED BY THE NCUA, AND THE CREDIT UNION'S GOVERNING DOCUMENTS.

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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 $62,323,579

Investment Income $5,871,187

Other Revenue $0

TOTAL REVENUE $68,194,766

Expense Breakdown

Grants Paid $0

Salaries & Benefits $27,155,831

Fundraising Expenses $0

Other Expenses $38,442,460

TOTAL EXPENSES $65,598,291

Year-over-Year Comparison

	2024	2023	Change
Revenue	$68,194,766	$61,292,333	+0.1%
Expenses	$65,598,291	$55,963,625	+0.2%
Net Income	$2,596,475	$5,328,708	-0.5%

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

283

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

$1,991,765

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RONALD MOOREHEAD	PRESIDENT/CE	45.00	Officer	$1,324,215	$22,237	$1,346,452
KAREN ORTIZ	EVP/COO	45.00	Officer	$632,516	$12,797	$645,313
STEVE COFFEY	CIO	45.00	Highest	$355,175	$12,116	$367,291
CHRIS SAMBORSKI	CLO	45.00	Highest	$313,223	$15,651	$328,874
YVONNE ALANIZ-CARPE	CFO	45.00	Highest	$258,431	$12,947	$271,378
DENNIS HOUSTON	CSO	45.00	Highest	$248,566	$12,318	$260,884
STORMY BARRETT	VP BRANCH OF	45.00	Highest	$196,357	$9,821	$206,178
VINCENT ESPARAZA	DIRECTOR	5.00	Director	$0	$0	$0
CYNTHIA FROST	1ST VICE CHA	5.00	Officer Director	$0	$0	$0
RICK GOSHORN	SECRETARY/TR	5.00	Director	$0	$0	$0
CASSIE KELLEY	EX-OFFICER	5.00	Officer Director	$0	$0	$0
STEWART LOGAN	2ND VICE CHA	5.00	Director	$0	$0	$0
BOYD MILLER	EMERITUS DIR	5.00	Director	$0	$0	$0
LORETTA MONTOYA	CHAIRPERSON	5.00	Director	$0	$0	$0
IVA NELSON	DIRECTOR	5.00	Director	$0	$0	$0
VANESSA RAGSDALE	DIRECTOR	5.00	Director	$0	$0	$0
MELISSA WAUNEKA	DIRECTOR	5.00	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	$68,194,766	$65,598,291	$916,557,398	$2,596,475
2023	$61,292,333	$55,963,625	$877,714,950	$5,328,708
2022	$50,914,383	$43,279,543	$861,940,972	$7,634,840
2021	$41,680,287	$31,785,009	$827,742,636	$9,895,278
2020	$36,248,505	$34,243,545	$703,722,821	$2,004,960
2019	$37,801,962	$34,289,288	$563,340,389	$3,512,674
2018	$35,448,974	$32,371,231	$543,612,312	$3,077,743

CREDIT UNIONS IN THE STATE OF NEW M FIRST FINACIAL CREDIT UNION