1ST UNITED CREDIT UNION (EIN 940335800) - 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

1932

Legal Domicile

Principal Officer

STEPHEN M STONE

Phone

9255984837

Tax Period

2024-01-01 to 2024-12-31

1ST UNITED CREDIT UNION, founded in 1932, is a mid-sized nonprofit that reported $60.5M in total revenue in fiscal year 2024. Revenue grew 18% year-over-year, indicating healthy expansion. Expenses of $52.7M left a modest 13% surplus.

Mission

TO PROVIDE A LIFETIME OF SIMPLER, FASTER, FRIENDLIER FINANCIAL SERVICES FOR OUR 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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $46,236,910

Investment Income $10,065,133

Other Revenue $4,234,698

TOTAL REVENUE $60,536,741

Expense Breakdown

Grants Paid $32,324

Salaries & Benefits $21,205,007

Fundraising Expenses $0

Other Expenses $31,452,123

TOTAL EXPENSES $52,689,454

Year-over-Year Comparison

	2024	2023	Change
Revenue	$60,536,741	$51,170,118	+0.2%
Expenses	$52,689,454	$46,369,301	+0.1%
Net Income	$7,847,287	$4,800,817	+0.6%

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

187

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

$2,249,419

Total Directors

$49,279

Key Employees

$1,457,551

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KEVIN POWERS	BOD MEMBER	1.00	Director	$0	$0	$0
DAVE MACDONALD	CHAIRPERSON	2.00	Director	$0	$0	$0
STEVE MANNING	VICE CHAIRPERSON	1.00	Director	$8,098	$0	$8,098
HOWARD GARRIGAN	BOD MEMBER	1.00	Director	$0	$0	$0
PATRICK O'CONNELL	BOD MEMBER	1.00	Director	$7,563	$0	$7,563
VELETA SAVANNAH	BOD MEMBER	1.00	Director	$10,305	$0	$10,305
CYRIL BONANNO	SECRETARY	1.00	Director	$13,344	$0	$13,344
TERESITA LAUIGAN	TREASURER	1.00	Director	$3,887	$0	$3,887
JOAN JOHNSON	BOD MEMBER	1.00	Director	$6,082	$0	$6,082
STEPHEN STONE	CEO	40.00	Officer	$620,594	$34,759	$655,353
GANGA RADHAKRISHNAN	CFO	40.00	Officer	$291,571	$20,206	$311,777
TOSHA EAGLES-WILLIAMS	CLO	40.00	Officer	$294,897	$30,967	$325,864
JOANNA UHL	CIO	40.00	Officer	$272,053	$45,835	$317,888
LYNELL FRALEY	CHRO	40.00	Officer	$136,886	$14,421	$151,307
DERRICK FORTIER	CRO	40.00	Officer	$266,531	$51,688	$318,219
VERONICA RODRIGUEZ	CHRO	40.00	Officer	$160,062	$8,949	$169,011
CHARLENE A ALMERIA	VP FINANCE & ACCOUNTING	40.00	Key Emp	$193,616	$32,620	$226,236
SARAH CECCHIN	SVP MARKETING & COMMUNICATIONS	40.00	Key Emp	$193,983	$38,069	$232,052
CHRISTOPHER FOX	VP ENTERPRISE APPLICATIONS	40.00	Key Emp	$190,298	$16,188	$206,486
JAMES SANTIAGO	VP IT	40.00	Key Emp	$186,040	$24,357	$210,397
SHERYON HILL-SAVAGE	VP ASSET RECOVERY	40.00	Key Emp	$170,409	$22,613	$193,022
GOLDMAN LEE	VP RETAIL SALES & EXPERIENCE	40.00	Key Emp	$162,080	$42,892	$204,972
JEANNIE SUGAOKA	VP COMPLIANCE AND RISK MANAGEMENT	40.00	Key Emp	$164,664	$19,722	$184,386
LYNN DIGNON	DIRECTOR OF PROJECT MANAGEMENT	40.00	Highest	$165,061	$43,039	$208,100
WILFREDO DELA CRUZ	VP LENDING	40.00	Highest	$150,678	$30,982	$181,660
STEVEN J SCHIRO	DIRECTOR OF DEVELOPMENT	40.00	Highest	$175,172	$22,887	$198,059
BERNADETTE OSORIO	VP INDIRECT LENDING	40.00	Highest	$147,158	$41,937	$189,095
MIKIKO HIRUTA	VP HUMAN RESOURCES	40.00	Highest	$159,068	$21,811	$180,879

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	$60,536,741	$52,689,454	$1,212,275,788	$7,847,287
2023	$51,170,118	$46,369,301	$1,224,510,759	$4,800,817
2022	$44,843,842	$37,181,605	$1,277,603,441	$7,662,237
2021	$40,373,728	$36,441,116	$1,288,886,913	$3,932,612
2020	$43,404,232	$42,213,757	$1,262,958,555	$1,190,475
2019	$48,333,779	$42,785,361	$1,121,694,517	$5,548,418
2018	$46,043,645	$38,831,131	$1,067,473,396	$7,212,514

1ST UNITED CREDIT UNION