PRIORITY ONE CREDIT UNION (EIN 951117083) - 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

1926

Legal Domicile

Principal Officer

CHARLES WIGGINGTON Sr

Tax Period

2023-01-01 to 2023-12-31

PRIORITY ONE CREDIT UNION, founded in 1926, is a mid-sized nonprofit that reported $12.1M in total revenue in fiscal year 2023. Revenue surged 28% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.5M, a strong 21% operating margin.

Mission

NON-PROFIT,STATE-CHARTERED, NATURAL PERSON CREDIT UNION, PROVIDING COMPETITIVE FINANCIAL SERVICES TO THE MEMBERS OF PRIORITY ONE CREDIT UNION.

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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 $5,348,496

Investment Income $3,122,804

Other Revenue $3,669,941

TOTAL REVENUE $12,141,241

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,620,167

Fundraising Expenses $0

Program Expenses $5,853,182

Other Expenses $4,231,811

TOTAL EXPENSES $9,596,607

Year-over-Year Comparison

	2023	2022	Change
Revenue	$12,141,241	$9,483,146	+0.3%
Expenses	$9,596,607	$8,024,911	+0.2%
Net Income	$2,544,634	$1,458,235	+0.7%

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

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

$242,258

Total Directors

Key Employees

$756,595

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHARLES WIGGINGTON Sr	PRESIDENT & CEO	40.00	Officer Highest	$242,258	$0	$242,258
SIMONA HOLLINS	CHIEF FINANCIAL OFFICER	40.00	Key Emp	$204,425	$0	$204,425
SONIA VILLA	LENDING DIRECTOR	40.00	Key Emp	$124,019	$0	$124,019
KIM JOHNSON	HR DIRECTOR	40.00	Key Emp	$116,037	$0	$116,037
HOWARD SMITH	CHIEF OPERATING OFFICER	40.00	Key Emp	$110,490	$0	$110,490
PATRICIA LOIACANO	VP OF OPERATIONS	40.00	Key Emp	$103,472	$0	$103,472
RANDY MCBRIDE	IT DIRECTOR	40.00	Key Emp	$98,152	$0	$98,152
LORNA RAYNE ARY	SUPERVISORY COMMITTEE VICE CH	1.00	Director	$0	$0	$0
FREDERICK HAWKINS	SUPERVISORY COMMITTEE TREASUR	1.00	Director	$0	$0	$0
RITA A RHEA-PERRY	SUPERVISORY COMMITTEE AUDIT C	1.00	Director	$0	$0	$0
TYREE JACKSON	BOARD MEMBER	1.00	Director	$0	$0	$0
GLEN O SAFFOLD	BOARD MEMBER	1.00	Director	$0	$0	$0
HAZEL L BROWN-HARVEY	SUPERVISORY COMMITTEE CHAIR	1.00	Director	$0	$0	$0
PIERRE R BOHAMED	BOARD MEMBER	1.00	Director	$0	$0	$0
ANNA SMITH	SUPERVISORY COMMITTEE SECRETA	1.00	Director	$0	$0	$0
BOBBY THOMAS	VICE CHAIRMAN	1.00	Officer	$0	$0	$0
DIEDRA HARRIS-BROOKS	CHAIRMAN OF THE BOARD	1.00	Officer	$0	$0	$0
BROCHELLE HALE-CORHN	BOARD SECRETARY	1.00	Officer	$0	$0	$0
ART NOW	BOARD TREASURER	1.00	Officer	$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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$12,141,241	$9,596,607	$192,463,294	$2,544,634
2022	$9,483,146	$8,024,911	$196,441,068	$1,458,235
2022	$9,483,146	$8,024,911	$196,441,068	$1,458,235
2021	$7,528,818	$7,428,768	$208,586,941	$100,050
2020	$7,601,633	$7,275,519	$195,913,910	$326,114
2019	$8,826,429	$7,401,877	$160,524,398	$1,424,552
2018	$8,350,756	$7,237,397	$159,716,885	$1,113,359
2018	$8,350,756	$7,237,397	$159,716,885	$1,113,359
2018	$8,350,756	$7,237,397	$159,716,885	$1,113,359

PRIORITY ONE CREDIT UNION