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Nonprofiteer
← FIRST ALLIANCE CREDIT UNION

Form 990 for tax year 2023

Filed by FIRST ALLIANCE CREDIT UNION.

Totals

Total revenue
$20,652,686
Total expenses
$18,126,917
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$19,578,655
Investment income
$1,074,031
Other revenue
$0
Total assets, end of year
$282,573,969
Total liabilities, end of year
$255,468,805
Net assets or fund balances, end of year
$27,105,164
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: INTEREST ON LOANS

    total $13,701,099 · related or exempt $13,701,099

  • 2b · Program service revenue: MEMBER SERVICE FEES

    total $5,411,403 · related or exempt $5,397,897 · unrelated business $13,506

  • 2c · Program service revenue: CREDIT CARD INCOME

    total $346,987 · related or exempt $346,987

  • 2d · Program service revenue: LOAN INCOME AND FEES

    total $119,166 · related or exempt $119,166

  • 3 · Investment income

    total $922,582 · excluded $922,582

  • 7a · Gross sales of assets other than inventory

    other assets $181,954

  • 7b · Less cost or other basis and sales expenses

    other assets $30,505

  • 7c · Gain or loss

    other assets $151,449

  • 7d · Net gain or loss

    total $151,449 · excluded $151,449

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $2,458,462

  • 5 · Compensation of officers, directors and key employees

    total $1,097,112

  • 7 · Other salaries and wages

    total $3,653,484

  • 8 · Pension plan contributions

    total $38,361

  • 9 · Other employee benefits

    total $1,248,729

  • 10 · Payroll taxes

    total $351,799

  • 11b · Fees: legal

    total $94,547

  • 11c · Fees: accounting

    total $89,076

  • 11f · Fees: investment management

    total $2,760

  • 11g · Fees: other

    total $447,914

  • 12 · Advertising and promotion

    total $632,271

  • 13 · Office expenses

    total $443,713

  • 14 · Information technology

    total $1,152,525

  • 16 · Occupancy

    total $559,974

  • 17 · Travel

    total $73,711

  • 19 · Conferences, conventions and meetings

    total $269,284

  • 20 · Interest

    total $497,015

  • 21 · Payments to affiliates

    total $68,915

  • 22 · Depreciation, depletion and amortization

    total $860,190

  • 23 · Insurance

    total $110,334

  • 24a · Other expenses: ATM EXP

    total $1,400,339

  • 24b · Other expenses: PROVISION FOR CREDIT LO

    total $1,102,712

  • 24c · Other expenses: LENDING EXP

    total $892,234

  • 24d · Other expenses: CREDIT CARD EXP

    total $252,102

  • 24e · All other expenses

    total $329,354

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,802,707 · end of year $6,397,175

  • 2 · Savings and temporary cash investments

    beginning of year $13,808,185 · end of year $14,215,371

  • 4 · Accounts receivable

    beginning of year $694,473 · end of year $1,737,455

  • 5 · Loans and receivables from officers and key people

    beginning of year $28,684 · end of year $20,000

  • 7 · Other notes and loans receivable

    beginning of year $215,112,506 · end of year $222,053,669

  • 9 · Prepaid expenses and deferred charges

    beginning of year $605,420 · end of year $667,956

  • 10a · Land, buildings and equipment: cost or other basis

    $12,491,287

  • 10b · Land, buildings and equipment: accumulated depreciation

    $4,361,374

  • 10c · Land, buildings and equipment, net

    beginning of year $11,704,725 · end of year $8,129,913

  • 11 · Investments: publicly traded securities

    beginning of year $26,383,539 · end of year $20,616,611

  • 12 · Investments: other securities

    beginning of year $279,726 · end of year $279,726

  • 15 · Other assets

    beginning of year $10,674,577 · end of year $8,456,093

  • 17 · Accounts payable and accrued expenses

    beginning of year $17,037,406 · end of year $10,992,683

  • 25 · Other liabilities

    beginning of year $245,818,063 · end of year $244,476,122

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $25,239,073 · end of year $27,105,164

Mission and programs · 2023

Mission

WE PLACE OUR MEMBERS' NEEDS FIRST BY PROVIDING COMPASSION, GUIDANCE, AND RESOURCES TO PROMOTE THEIR FINANCIAL WELL-BEING. AS A FINANCIAL COOPERATIVE ALL INCOME IS USED TO PAY OPERATING EXPENSES OR RETURNED TO MEMBERS IN THE FORM OF DIVIDENDS OR SERVICES.

Activities or mission (Part I)

FIRST ALLIANCE CREDIT UNION PLACES MEMBERS' NEEDS FIRST BY PROVIDING COMPASSION, GUIDANCE, AND RESOURCES TO PROMOTE THEIR FINANCIAL WELL-BEING.

  • PAY INTEREST AND DIVIDENDS ON AMOUNTS DEPOSITED BY MEMBERS.

  • PROVIDE CHECKING AND CASH HANDLING SERVICES TO MEMBERS.

  • PROVIDE RESIDENTIAL MORTGAGE, HOME IMPROVEMENT, COMMERCIAL, AND OTHER MISC. LOANS TO MEMBERS.

As filed on the 2023 return.

Listed in Part VII

  • Rawhi Said

    DIRECTOR

    Total calculated
    $2,332
    From this org
    $2,332
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.4

  • Russell Hess

    SECRETARY/DIRECTOR

    Total calculated
    $2,713
    From this org
    $2,713
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.1

  • Roberta Olson

    DIRECTOR

    Total calculated
    $3,348
    From this org
    $3,348
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.1

  • Jane Drennan

    DIRECTOR

    Total calculated
    $5,151
    From this org
    $5,151
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.3

  • Theresa Hornberg

    CHAIR/DIRECTOR

    Total calculated
    $6,991
    From this org
    $6,991
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.5

  • Alan Michael Debolt

    VICE CHAIR/DIRECTOR

    Total calculated
    $1,686
    From this org
    $1,686
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.1

  • Julian Currie

    DIRECTOR

    Total calculated
    $1,616
    From this org
    $1,616
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.2

  • Mike Rosek

    EMERITUS PRESIDENT/CEO

    Total calculated
    $479,888
    From this org
    $408,493
    From related orgs
    $0
    Other
    $71,395
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $291,897
    Bonus
    $20,000
    Other
    $96,596
    Deferred
    $45,438
    Nontaxable benefits
    $25,957
    Filer's total
    $479,888

  • Mark Hettinger

    EVP/COO

    Total calculated
    $80,385
    From this org
    $66,964
    From related orgs
    $0
    Other
    $13,421
    Hours/week
    50

  • David Schouten

    SVP/CIO

    Total calculated
    $87,895
    From this org
    $72,474
    From related orgs
    $0
    Other
    $15,421
    Hours/week
    50

  • Brent Rempe

    PRESIDENT/CEO

    Total calculated
    $146,417
    From this org
    $129,264
    From related orgs
    $0
    Other
    $17,153
    Hours/week
    50

  • Valerie Mathias

    SVP FINANCE/CFO

    Total calculated
    $278,690
    From this org
    $207,730
    From related orgs
    $0
    Other
    $70,960
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $186,721
    Bonus
    $21,009
    Other
    $0
    Deferred
    $45,121
    Nontaxable benefits
    $25,839
    Filer's total
    $278,690

  • Christine Jensen

    CONTROLLER

    Total calculated
    $138,149
    From this org
    $108,075
    From related orgs
    $0
    Other
    $30,074
    Hours/week
    40

  • Jeremiah Halloran

    DIRECTOR OF DIGITAL SERVICES

    Total calculated
    $158,775
    From this org
    $113,034
    From related orgs
    $0
    Other
    $45,741
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $103,814
    Bonus
    $9,220
    Other
    $0
    Deferred
    $7,020
    Nontaxable benefits
    $38,721
    Filer's total
    $158,775

  • Lisett Comai-Legrand

    DIRECTOR OF RETAIL & MBR EXPER

    Total calculated
    $162,540
    From this org
    $128,665
    From related orgs
    $0
    Other
    $33,875
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $118,201
    Bonus
    $10,464
    Other
    $0
    Deferred
    $8,036
    Nontaxable benefits
    $25,839
    Filer's total
    $162,540

  • Andrea Allen

    DIRECTOR OF LENDING

    Total calculated
    $164,669
    From this org
    $118,569
    From related orgs
    $0
    Other
    $46,100
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $108,306
    Bonus
    $10,263
    Other
    $0
    Deferred
    $7,343
    Nontaxable benefits
    $38,757
    Filer's total
    $164,669

  • Nancy Huber

    DIRECTOR OF HUMAN RESOURCES

    Total calculated
    $135,082
    From this org
    $115,636
    From related orgs
    $0
    Other
    $19,446
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 4B
THE FOLLOWING INDIVIDUALS PARTICIPATED IN THE 457(F) PLANS OFFERED BY THE CREDIT UNION: MIKE ROSEK, EMERITUS PRESIDENT/CEO 457(F) - ACCRUED $29,780 - DISTRIBUTION $96,596 VALERIE MATHIAS, SVP FINANCE/CFO 457(F) - ACCRUED $32,573

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
9 May 2024
IRS schema version
2023v5.0
Source object
202421319349304077

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