Firemans Credit Union

Nonprofit profile at a glance

EIN
630021945
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Birmingham, AL, USA
Phone
2052526083
Rating confidence
Limited

Reported finances

Revenue
$380,016
Expenses
$307,448
Assets
$6,970,480
Liabilities
$4,427,202

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • CHRISTOPHER AMMONS (CEO, BOARD TREASURER & SEC)

Highest reported compensation

  • CHRISTOPHER AMMONS (CEO, BOARD TREASURER & SEC): $28,800 total reported compensation
  • JASON DAVIS (BOARD MEMBER/EMPLOYEE): $21,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Cooperative society incorporated for the twofold purpose of promoting thrift among its members and creating a source of credit for them at legitimate rates of interest.

What it reported doing in 2024

Alabama banking code, section 5-17-1, states that a credit union is a cooperative society incorporated for the twofold purpose of promoting thrift among its members and creating a source of credit for them at legitimate rates of interest. Fireman's credit union, an Alabama state chartered credit union, was established to provide these services to its members, who are employees and their relatives of the city of birmingham fire department. As of december 31, 2024, the credit union had membership and provided services to approximately 863 members.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 90
  • Accountability: 61
  • Sustainability: 66
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 60%; rating input score 60; 17th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 19.1%; rating input score 73; 73rd percentile among comparable filings
  • Total-asset coverage ratio: 22.67; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.64; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 16.2%; rating input score 23; 23rd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 0.4% per year; rating input score 100; 25th percentile among comparable filings
  • Asset growth: 4.9% per year; rating input score 100; 47th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 3 of 5 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $307K in reported program spending
  • Leadership: top reported pay $29K · 8 people listed
  • Consistency: 10 of 10 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.
  • High — Sustainability: Officer compensation ratio scored 23/100.