COMMUNITY FIRST 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

1959

Legal Domicile

Principal Officer

SCOTT JOHNSON

Phone

7075432639

Tax Period

2023-01-01 to 2023-12-31

COMMUNITY FIRST CREDIT UNION, founded in 1959, is a mid-sized nonprofit that reported $43.5M in total revenue in fiscal year 2023. Revenue grew 18% year-over-year, indicating healthy expansion. Expenses of $40.2M left a modest 7% surplus.

Mission

COMMUNITY FIRST CREDIT UNION IS A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS, CREATING A SOURCE OF CREDIT FOR THEM AT RATES OF INTEREST SET BY THE BOARD OF DIRECTORS, AND PROVIDING AN OPPORTUNITY FOR THEM TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. AS A COOPERATIVE, COMMUNITY FIRST CREDIT UNION CONDUCTS ITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITS MEMBERS WITH THE EARNINGS, SAVINGS, BENEFITS, OR SERVICES OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS.

Program Service Accomplishments

Program 1

CFCU WAS NAMED ONE OF "THE BEST PLACES TO WORK" BY NORTH BAY BUSINESS JOURNAL! THE E-CONVENIENCES WE PIONEERED SET US APART AS THE TOP LOCALLY BASED BANK OR CU.

Program 2

OUR MOBILE BANKING APPLICATION WAS UPDATED IN 2023. WITH US YOU CAN ENJOY CONTACTLESS CARDS, DIGITAL CHAT, SMARTPHONE APP, AND COMPLETE SPANISH LANGUAGE SITE.

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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 $37,803,041

Investment Income $5,695,839

Other Revenue $0

TOTAL REVENUE $43,498,880

Expense Breakdown

Grants Paid $121,238

Salaries & Benefits $15,384,028

Fundraising Expenses $0

Other Expenses $24,736,711

TOTAL EXPENSES $40,241,977

Year-over-Year Comparison

	2023	2022	Change
Revenue	$43,498,880	$36,766,136	+0.2%
Expenses	$40,241,977	$28,206,770	+0.4%
Net Income	$3,256,903	$8,559,366	-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

203

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

$935,580

Total Directors

Key Employees

$1,297,788

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CAROLYN WELCH	CHAIR	1.00	Director	$0	$0	$0
JASON SCOTT	VICE CHAIR	1.00	Director	$0	$0	$0
BRIAN COCHRAN	TREASURER	1.00	Director	$0	$0	$0
CAREL VAN DEN HEUVEL	SECRETARY	1.00	Director	$0	$0	$0
MARRIANNE MCBRIDE	DIRECTOR	1.00	Director	$0	$0	$0
ARLENE COLOMBINI	DIRECTOR	1.00	Director	$0	$0	$0
JOHN C BURKE	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT SCOTT	DIRECTOR	1.00	Director	$0	$0	$0
TINA RIVERA	DIRECTOR	1.00	Director	$0	$0	$0
ZHAO CHO QIU	SUPV CMTE CHAIR	1.00	Director	$0	$0	$0
ROY DAJALOS	SUPV CMTE MEMBER	1.00	Director	$0	$0	$0
KATHLEEN DE CHADENEDES	SUPV CMTE MEMBER	1.00	Director	$0	$0	$0
CHRISTINE HAGGARTY	SUPV CMTE MEMBER	1.00	Director	$0	$0	$0
DAVID WILLIAMS	SUPV CMTE MEMBER	1.00	Director	$0	$0	$0
SCOTT JOHNSON	CEO	40.00	Officer	$560,305	$45,316	$605,621
FITZGERALD REYES	CFO	40.00	Officer	$281,902	$48,057	$329,959
MONIKA BESANCON	COO	40.00	Key Emp	$257,111	$36,220	$293,331
ANDREW DICKHUT	CMO	40.00	Key Emp	$232,887	$26,949	$259,836
JAY HUFFORD FORMER	CRO	40.00	Key Emp	$180,520	$9,019	$189,539
CARY SHUMWAY	CLO	40.00	Key Emp	$168,210	$12,078	$180,288
SARA GRIGGS	CPO	40.00	Key Emp	$159,511	$21,237	$180,748
CHRISTOPHER KRAEMER	CIO	40.00	Key Emp	$157,246	$36,800	$194,046
KATRICE COLLINS	VP MORTGAGE LENDING	40.00	Highest	$165,080	$10,478	$175,558
JOHN PETERSON	AVP BRANCH INFRASTRUCTURE	40.00	Highest	$157,893	$33,205	$191,098
MARIO CARRANZA	VP CONSUMER LENDING	40.00	Highest	$154,520	$18,780	$173,300
ROSARIO GARZA	VP DIGITAL BANKING	40.00	Highest	$139,023	$10,271	$149,294
KERRIE CHAMBERS	DIRECTOR MORTGAGE SALES	40.00	Highest	$133,887	$25,829	$159,716

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	$43,498,880	$40,241,977	$816,808,644	$3,256,903
2022	$36,766,136	$28,206,770	$823,669,192	$8,559,366
2021	$33,075,635	$25,585,694	$761,258,257	$7,489,941
2020	$31,829,604	$26,049,069	$650,851,812	$5,780,535
2019	$29,807,777	$24,606,472	$546,009,212	$5,201,305