FIRST US COMMUNITY 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

1936

Legal Domicile

Principal Officer

SHONNA SHEARSON

Phone

9165765700

Tax Period

2023-01-01 to 2023-12-31

FIRST US COMMUNITY CREDIT UNION, founded in 1936, is a mid-sized nonprofit that reported $22.6M in total revenue in fiscal year 2023. Revenue surged 26% from the prior year, signaling strong growth momentum. Expenses of $20.0M left a modest 12% surplus.

Mission

FIRST US COMMUNITY CREDIT UNION IS A MEMBER-OWNED FINANCIAL INSTITUTION. OUR MISSION IS TO TO MAKE A DIFFERENCE IN OUR COMMUNITIES WITH FINANCIAL SERVICES THAT HELP OUR MEMBERS ENHANCE THEIR LIVES.

Program Service Accomplishments

Program 1

FOR OVER 88 YEARS, FIRST US COMMUNITY CREDIT UNION HAS PROVIDED LENDING AND DEPOSIT PRODUCTS AND SERVICES TO ITS MEMBERS. FIRST US SERVES ANYONE WHO LIVES, WORKS, OR WORSHIPS (INCLUDING STATEWIDE...

FOR OVER 88 YEARS, FIRST US COMMUNITY CREDIT UNION HAS PROVIDED LENDING AND DEPOSIT PRODUCTS AND SERVICES TO ITS MEMBERS. FIRST US SERVES ANYONE WHO LIVES, WORKS, OR WORSHIPS (INCLUDING STATEWIDE CURRENT AND RETIRED FEDERAL EMPLOYEES AND THEIR FAMILIES) IN 12 COUNTIES IN THE GREATER SACRAMENTO, CA REGION. A WIDE RANGE OF LOAN PRODUCTS AND SERVICES ARE OFFERED INCLUDING RESIDENTIAL AND COMMERCIAL REAL ESTATE, COMMERCIAL BUSINESS (I.E., SBA), VEHICLE, AND OTHER CONSUMER LOANS. TOTAL ASSETS AT DECEMBER 2023 WERE APPROXIMATELY $536 MILLION.

Program 2

IN ADDITION TO LENDING PRODUCTS, FIRST US COMMUNITY CREDIT UNION (THE CREDIT UNION) ALSO OFFERS A WIDE RANGE OF DEPOSIT PRODUCTS AND SERVICES INCLUDING SHARE, CHECKING, CERTIFICATES OF DEPOSIT, AND RETIREMENT ACCOUNTS. THE CREDIT UNION MEMBERS HAVE ACCOUNT SERVICES ACCESS VIA SEVEN FULL SERVICE RETAIL BRANCHES AS WELL AS NATIONWIDE ACCESS THROUGH SHARED BRANCHING AND VIA >25,000 ATM'S IN THE CO-OP NETWORK. AS OF DECEMBER 2023 THE CREDIT UNION HAD 28,389 MEMBERS WITH APPROXIMATELY $479 MILLION IN DEPOSIT ACCOUNTS.

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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 $17,788,834

Investment Income $4,440,430

Other Revenue $383,900

TOTAL REVENUE $22,613,164

Expense Breakdown

Grants Paid $0

Salaries & Benefits $7,460,164

Fundraising Expenses $0

Other Expenses $12,490,710

TOTAL EXPENSES $19,950,874

Year-over-Year Comparison

	2023	2022	Change
Revenue	$22,613,164	$17,991,070	+0.3%
Expenses	$19,950,874	$14,063,521	+0.4%
Net Income	$2,662,290	$3,927,549	-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

105

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

$944,265

Total Directors

Key Employees

$413,588

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DICK COCHRAN	FORMER DIRECTOR	1.00	Director	$0	$0	$0
DENNIS COOK	VICE CHAIRMAN	1.00	Director	$0	$0	$0
BRIAN DOYLE	FORMER SECRETARY	1.00	Officer Director	$0	$0	$0
VASANTHA ESWARA	SECRETARY	1.00	Officer Director	$0	$0	$0
JAMES GOMES	CHAIRMAN	1.00	Officer Director	$0	$0	$0
NANCY LEE	DIRECTOR	1.00	Director	$0	$0	$0
KAREN MCDOUGAL	DIRECTOR	1.00	Director	$0	$0	$0
CLARENCE PERKINS	TREASURER	1.00	Officer Director	$0	$0	$0
CAROL HAUCK	FORMER PRESIDENT/CEO	40.00	Officer	$411,386	$56,034	$467,420
JEFFREY CRUMP	SVP/CFO	40.00	Officer	$178,777	$32,408	$211,185
SHONNA SHEARSON	PRESIDENT/CEO	40.00	Officer	$228,325	$37,335	$265,660
JULIE AINSWORTH	SVP/COO	40.00	Key Emp	$168,606	$43,214	$211,820
JANCE DALTON	SVP/CIO	40.00	Key Emp	$180,159	$21,609	$201,768
JOSEPH KLEEMANN	VP RE LENDING	40.00	Highest	$136,043	$42,715	$178,758
PATRICIA JEAN SHEPHERD	VP/MEMBER SVC	40.00	Highest	$143,289	$29,720	$173,009
ROBERT MILLER	VP/BUSINESS	40.00	Highest	$120,064	$21,110	$141,174
TIMOTHY PEARSALL	SENIOR SYSTEMS ADMIN	40.00	Highest	$116,025	$35,285	$151,310
DANIEL ADAMSON	FORMER VP MARKETING	40.00	Highest	$105,397	$25,265	$130,662

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	$22,613,164	$19,950,874	$535,921,532	$2,662,290
2022	$17,991,070	$14,063,521	$541,542,858	$3,927,549
2021	$16,140,124	$12,241,782	$521,811,500	$3,898,342
2020	$16,978,310	$13,348,216	$473,842,862	$3,630,094
2019	$16,812,965	$13,336,977	$409,407,018	$3,475,988
2018	$15,121,365	$11,487,835	$372,022,835	$3,633,530