FIRST CITY CREDIT UNION (EIN 951679662) - 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

1937

Legal Domicile

Principal Officer

NAVNEET KHANNA

Phone

2134823477

Tax Period

2023-01-01 to 2023-12-31

FIRST CITY CREDIT UNION, founded in 1937, is a mid-sized nonprofit that reported $38.1M in total revenue in fiscal year 2023. Revenue surged 31% from the prior year, signaling strong growth momentum. The organization ran a surplus of $7.6M, a strong 20% operating margin.

Mission

TO PROVIDE HIGH QUALITY FINANCIAL SERVICES AND COMPETITIVE PRODUCTS TO 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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $25,148,937

Investment Income $12,971,704

Other Revenue $0

TOTAL REVENUE $38,120,641

Expense Breakdown

Grants Paid $0

Salaries & Benefits $10,991,855

Fundraising Expenses $0

Other Expenses $19,549,437

TOTAL EXPENSES $30,541,292

Year-over-Year Comparison

	2023	2022	Change
Revenue	$38,120,641	$29,074,210	+0.3%
Expenses	$30,541,292	$22,924,054	+0.3%
Net Income	$7,579,349	$6,150,156	+0.2%

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

148

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

$1,006,823

Total Directors

Key Employees

$308,048

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NAVNEET KHANNA	CEO	40.00	Officer	$559,442	$70,514	$629,956
LOURDES RUANO	EVP/CFO	40.00	Officer	$323,293	$53,574	$376,867
MICHAEL WILKINS	SVP/COO	40.00	Key Emp	$264,567	$43,481	$308,048
ALFREDO PEREZ	SVP/CLO	40.00	Highest	$217,081	$37,605	$254,686
QAMAR NOORY	VP/CIO	40.00	Highest	$214,297	$22,503	$236,800
MARY BOLOSE	VP	40.00	Highest	$160,867	$34,468	$195,335
MARY RUBIO	VP OF HUMAN RESOURCES	40.00	Highest	$164,519	$19,768	$184,287
CURTIS RUTHER	VP OF CONSUMER LENDING	40.00	Highest	$161,808	$10,665	$172,473
CHRISTOPHER ANDERSON	DIRECTOR	1.00	Director	$0	$0	$0
JOHN BENEDICT	TREASURER	1.00	Officer Director	$0	$0	$0
CAROLYN BERNARDEZ	DIRECTOR	1.00	Director	$0	$0	$0
WILLA GLOVER	VICE CHAIR	1.00	Officer Director	$0	$0	$0
MARISA LOPEZ	DIRECTOR	1.00	Director	$0	$0	$0
BARBARA OLIVER	FORMER TREASURER	1.00	Officer Director	$0	$0	$0
MICHAEL STEINBERGER	CHAIR	1.00	Officer Director	$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
2024	No data	No data	No data	No data
2023	$38,120,641	$30,541,292	$906,616,422	$7,579,349
2022	$29,074,210	$22,924,054	$886,615,777	$6,150,156
2021	$39,387,246	$20,132,973	$929,815,680	$19,254,273
2020	$27,272,133	$23,993,439	$838,293,496	$3,278,694
2019	$29,755,374	$22,890,554	$699,529,873	$6,864,820
2018	$28,559,391	$23,835,809	$674,690,055	$4,723,582

FIRST CITY CREDIT UNION