SAN FRANCISCO FIRE 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

1951

Legal Domicile

Principal Officer

KATHERINE DUVALL

Phone

4156744800

Tax Period

2023-01-01 to 2023-12-31

SAN FRANCISCO FIRE CREDIT UNION, founded in 1951, is a mid-sized nonprofit that reported $76.7M in total revenue in fiscal year 2023. Revenue surged 22% from the prior year, signaling strong growth momentum. Expenses of $67.8M left a modest 12% surplus.

Mission

BUILT BY SAN FRANCISCO FIREFIGHTERS AND COMMITTED TO THE FINANCIAL SAFETY AND SECURITY OF OUR COMMUNITY.

Program Service Accomplishments

Program 1

MORTGAGE LENDING:PROGRAM BENEFITS CREDIT UNION MEMBERS AND THE REGIONAL COMMUNITIES LOCATED WITHIN OUR FIELD OF MEMBERSHIP INCLUDING SAN FRANCISCO, SAN MATEO, AND MARIN COUNTY. THE CREDIT UNION HAS MADE HOME OWNERSHIP MORE AFFORDABLE BY OFFERING LOW DOWN PAYMENT LOAN PROGRAMS, PARTICIPATING IN FIRST TIME HOMEBUYER PROGRAMS, AND OFFERING COMPETITIVE RATES, LOAN FEES, AND TERMS. ADDITIONALLY, THE CREDIT UNION SUPPORTS SAN FRANCISCO FIREFIGHTERS THROUGH PROGRAMS DEVELOPED TO ASSIST THEIR FINANCIAL NEEDS.

Program 2

VEHICLE LENDING: PROGRAM BENEFITS CREDIT UNION MEMBERS AND THE REGIONAL COMMUNITIES LOCATED WITHIN OUR FIELD OF MEMBERSHIP INCLUDING SAN FRANCISCO, SAN MATEO, AND MARIN COUNTY. THROUGH DIRECT AND...

VEHICLE LENDING: PROGRAM BENEFITS CREDIT UNION MEMBERS AND THE REGIONAL COMMUNITIES LOCATED WITHIN OUR FIELD OF MEMBERSHIP INCLUDING SAN FRANCISCO, SAN MATEO, AND MARIN COUNTY. THROUGH DIRECT AND INDIRECT VEHICLE LENDING CHANNELS, THE CREDIT UNION ASSISTS MEMBERS AND NON-MEMBERS LOCATED IN THE CREDIT UNION'S FIELD OF MEMBERSHIP BY PROVIDING A SAFE, EFFICIENT, SECURE PROCESS TO ORIGINATE NEW AND USED VEHICLE LOANS, PROVIDING COMPETITIVE RATES AND TERMS.

Program 3

CREDIT CARDS/SOLAR/STUDENT LOANS: PROGRAM BENEFITS TO CREDIT UNION MEMBERS AND THE REGIONAL COMMUNITIES LOCATED WITHIN OUR FIELD OF MEMBERSHIP INCLUDING SAN FRANCISCO, SAN MATEO, AND MARIN COUNTY...

CREDIT CARDS/SOLAR/STUDENT LOANS: PROGRAM BENEFITS TO CREDIT UNION MEMBERS AND THE REGIONAL COMMUNITIES LOCATED WITHIN OUR FIELD OF MEMBERSHIP INCLUDING SAN FRANCISCO, SAN MATEO, AND MARIN COUNTY. THE CREDIT UNION OFFERS A COMPETITIVE CREDIT CARD TO MEMBERS AND NON-MEMBERS. THE CREDIT UNION ASSISTS STUDENTS BY PROVIDING THEM WITH FINANCING OPTIONS TO HELP THEM REACH THEIR EDUCATIONAL GOALS. THE CREDIT UNION PROVIDES SOLAR FINANCING TO MEMBERS AND NON-MEMBERS TO ACQUIRE AND INSTALL HOME SOLAR SYSTEMS TO ASSIST HOMEOWNERS WITH THEIR SOLAR NEEDS, PROVIDING COMPETITIVE RATES AND TERMS.

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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 $60,632,195

Investment Income $9,897,901

Other Revenue $6,172,839

TOTAL REVENUE $76,702,935

Expense Breakdown

Grants Paid $39,456

Salaries & Benefits $27,612,122

Fundraising Expenses $0

Other Expenses $40,195,168

TOTAL EXPENSES $67,846,746

Year-over-Year Comparison

	2023	2022	Change
Revenue	$76,702,935	$62,656,925	+0.2%
Expenses	$67,846,746	$55,928,710	+0.2%
Net Income	$8,856,189	$6,728,215	+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

232

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

$5,079,104

Total Directors

Key Employees

$2,558,448

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BROOK BAKER	CHAIPERSON	4.00	Director	$0	$0	$0
ROBERT OLSON	VICE CHAIRPERSON	2.00	Director	$0	$0	$0
KIM WEISS	SECRETARY	2.00	Director	$0	$0	$0
ETTORE LEALE	DIRECTOR	2.00	Director	$0	$0	$0
ROBERT CAPPA	DIRECTOR	2.00	Director	$0	$0	$0
ANTHONY DILUZIO	DIRECTOR	2.00	Director	$0	$0	$0
ANTHONY RIVERA	DIRECTOR (EFFECTIVE FROM MARCH 2023)	2.00	Director	$0	$0	$0
KATHERINE DUVALL	CEO	50.00	Officer	$919,705	$1,543,456	$2,463,161
ROBERT KASSAB	CHIEF FINANCIAL OFFICER	50.00	Officer	$385,002	$51,158	$436,160
ANTHONY VITALE	CHIEF INFORMATION OFFICER	50.00	Officer	$373,206	$39,158	$412,364
IICHOO CHEW	CHIEF MARKETING OFFICER	50.00	Officer	$331,849	$3,694	$335,543
ERICK WELCH	CHIEF EXPERIENCE OFFICER	50.00	Officer	$297,188	$21,230	$318,418
BRYDEN CAIRNEY	CHIEF LENDING OFFICER	50.00	Officer	$314,762	$20,491	$335,253
DAWN CHUTE	CHIEF PEOPLE OFFICER	50.00	Officer	$269,555	$39,143	$308,698
JOHN BASALLA	CHIEF RISK OFFICER	40.00	Officer	$219,899	$24,350	$244,249
THU NGUYEN	VP CONTROLLER	40.00	Officer	$203,876	$21,382	$225,258
JOHN MIX	VP COMMERCIAL LENDING	40.00	Key Emp	$255,721	$35,370	$291,091
NAS BIRMINGHAM	VP DIGITAL EXPERIENCE	40.00	Key Emp	$214,316	$34,080	$248,396
CAROL FRIEND	DIRECTOR OF LENDING OPEARTIONS & ADMIN	40.00	Key Emp	$221,388	$22,855	$244,243
SARAH SCHAFER	VP INTEGRATED MARKETING	40.00	Key Emp	$208,190	$15,894	$224,084
DENNIS BARNES	AVP IT SERVICE DELIVERY	40.00	Key Emp	$210,126	$10,149	$220,275
NEIL CONROY	VP OPERATIONS & MEMBER EXPERIENCE	40.00	Key Emp	$188,801	$17,439	$206,240
WHITNEY HAYES	DIRECTOR HEAD OF BUS DEV & COMM. IMPACT	40.00	Key Emp	$173,017	$16,542	$189,559
MECHELL KEITH	AVP PMO	40.00	Key Emp	$170,357	$20,584	$190,941
DEANNE MIRANDA	VP CONSUMER LENDING	40.00	Key Emp	$167,730	$15,483	$183,213
EMILY BOROWSKI	VP COMPLIANCE	40.00	Key Emp	$165,931	$27,372	$193,303
MIRABEL ZAMORA	VP REAL ESTATE LENDING OPERATIONS	40.00	Key Emp	$161,717	$15,894	$177,611
MANUELA FRANCO	AVP OPERATIONS	40.00	Key Emp	$157,979	$31,513	$189,492
JUAN JIMENEZ	AVP BUSINESS INTELLIGENCE	40.00	Highest	$145,187	$41,386	$186,573
MAX EDWARDS	AVP MEMBER SERVICES	40.00	Highest	$143,733	$19,586	$163,319
NARAH SILAPHENT	SR. COMMERCIAL LOAN ADMIN	40.00	Highest	$165,051	$15,333	$180,384
THOMAS HUGHES	MANAGER OF APPLICATIONS DEVELOPMENT	40.00	Highest	$149,066	$26,418	$175,484
OLIVIA ROTHSCHILD	MARKETING MANAGER	40.00	Highest	$146,036	$34,141	$180,177

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	$76,702,935	$67,846,746	$1,756,924,114	$8,856,189
2022	$62,656,925	$55,928,710	$1,827,357,226	$6,728,215
2021	$55,402,558	$48,956,993	$1,733,829,261	$6,445,565
2020	$63,325,147	$60,616,228	$1,652,125,521	$2,708,919
2019	$64,551,427	$55,476,916	$1,396,330,281	$9,074,511
2018	$59,732,979	$48,446,943	$1,333,085,887	$11,286,036