First Choice Credit Union

Nonprofit profile at a glance

Source: IRS Form 990. Selected filing: tax year 2011. Amounts in USD.

6 people listed

Source: IRS Form 990. Selected filing: tax year 2011. Names and roles reflect this filing, not necessarily current officeholders.

Provide lending, savings, and financial services to 8,290 members for mutual purpose to improve members' financial well-being.

Provide checking account transaction and payment services and account access to 2,805 members.

Revenue model: Earned-program. 83% 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 available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Consistency checks: 100%; rating input score 100; 59th percentile among comparable filings
Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Pass
- Independent consultant: Pass
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Pass
Foreign activity oversight: Limited
Grant itemization coverage: Limited
Major donor itemization: Limited
Related-party transparency: Limited

Independent voting board: 100%; rating input score 100; 65th percentile among comparable filings
Governance controls: 5 of 8 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: NotApplicable
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Fail

Operating margin: -48.4%; rating input score 2; 2nd percentile among comparable filings
Total-asset coverage ratio: 12; rating input score 93; 93rd percentile among comparable filings
Liabilities to assets ratio: 0.9; rating input score 11; 11th percentile among comparable filings
Officer compensation ratio: 17.4%; rating input score 9; 9th percentile among comparable filings

Program expense growth: Limited
Revenue growth: -0.9% per year; rating input score 0; 35th percentile among comparable filings
Asset growth: -2.9% per year; rating input score 0; 28th percentile among comparable filings

Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
Governance: 5 of 5 board members independent · 5 of 8 filing controls reported
Programs: 3 filed program accomplishments
Leadership: top reported pay $1M · 6 people listed · 3 of 6 pay-setting controls reported
Consistency: 10 of 10 current checks pass
Schedules: 3 filed schedules · includes executive pay
Filing history: 2 filing years from 2010 to 2011
People: Everyone the filings name, and which of them the filings identify by more than a name.

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