2018-05-10T13:26:23-05:00 2017-12-31 420714325 RSM US LLP 310 BROADWAY AVENUE S SUITE 300 ROCHESTER MN 55904 990 2017-01-01 410429399 FIRST ALLIANCE CREDIT UNION FIRS 5072880330 320 ALLIANCE PLACE NE ROCHESTER MN 55906 MIKE ROSEK PRESIDENT/CEO 5072880330 2018-05-10 1 DANIEL W EDWARDS P00043974 5072886476 2017 2022-09-23 18:48:47Z MIKE ROSEK 320 ALLIANCE PLACE NE ROCHESTER MN 55906 10959616 0 6060 X WWW.FIRSTALLIANCECU.COM X COOPERATIVE 1932 MN FIRST ALLIANCE CREDIT UNION PLACES MEMBERS' NEEDS FIRST BY PROVIDING COMPASSION, GUIDANCE, AND RESOURCES TO PROMOTE THEIR FINANCIAL WELL-BEING. 7 7 69 10 2325 -4178 0 0 8500865 9417239 586675 744912 0 0 9087540 10162151 0 0 1032349 1112110 3144720 3413976 0 0 0 3683868 4274937 7860937 8801023 1226603 1361128 162788861 174356672 144933197 155087930 17855664 19268742 WE PLACE OUR MEMBERS' NEEDS FIRST BY PROVIDING COMPASSION, GUIDANCE, AND RESOURECES 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. 0 0 4400511 5081076 PAY INTEREST AND DIVIDENDS ON AMOUNTS DEPOSITED BY MEMBERS. 1760205 2032430 PROVIDE FREE CHECKING AND CASH HANDLING SERVICES TO MEMBERS. 2640307 3048645 PROVIDE RESIDENTIAL MORTGAGE, HOME IMPROVEMENT, COMMERCIAL AND OTHER MISCELLANEOUS LOANS TO MEMBERS. 8801023 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 7792 0 1 69 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 1 1 1 0 1 1 1 0 1 1 1 0 MN X MIKE ROSEK PRESIDENTCEO 5072827602 320 ALLIANCE PLACE NE ROCHESTER MN 55906 GREG EICHTEN DIRECTOR 3.00 X 0 0 0 HAROLD WOBSCHALL DIRECTOR 3.00 X 0 0 0 CHRIS NELSON DIRECTOR 3.00 X 0 0 0 BOBBI OLSON DIRECTOR 3.00 X 0 0 0 RUSSELL HESS DIRECTOR 3.00 X 0 0 0 COLE BAESSLER DIRECTOR 3.00 X 0 0 0 THERESA HORNBERG DIRECTOR 3.00 X 0 0 0 MANUAL MONTES DIRECTOR 3.00 X 0 0 0 VALERIE MATHIAS SR VP FINANCE/CFO 50.00 X 158527 0 28563 MARK HETTINGER SR VP OPERATIONS/COO 50.00 X 142545 0 18900 DAVID SCHOUTEN VP IT/CIO 50.00 X 118168 0 27895 MIKE ROSEK PRESIDENT/CEO 50.00 X 68763 0 6603 488003 0 81961 3 0 1 0 FISERV 255 FISERV DR BROOKFIELD WI 53045 CORE PROCESSOR 1043198 OLMSTED COUNTY PRL 151 4TH ST SE ROCHESTER MN 559043716 PROPERTY TAX COLLECTOR 175428 THE BOLDT COMPANY 3621 9TH ST NW ROCHESTER MN 55901 BUILDING CONTRACTOR 109100 3 INTEREST ON LOANS 900099 5920201 5920201 MEMBER SERVICES FEES 900099 2497835 2495510 2325 LOAN INCOME & FEES 900099 729156 729156 CREDIT CARD INCOME 522100 270047 270047 9417239 748962 748962 15500 15500 335441 442474 328896 468569 6545 -26095 -19550 -19550 10162151 10159826 2325 0 1112110 569964 2118136 95005 427182 203689 48414 51535 19456 278493 401148 320345 504968 348689 59984 131222 2318 50762 383542 49759 PROVISION FOR LOAN LOSS 633000 LENDING EXPENSE 454456 CREDIT CARD EXPENSE 285043 MISCELLANEOUS OTHER EXP 251803 8801023 1557553 1434920 16460331 11633911 56299 68715 28982 32245 116133993 126005987 262374 297698 8348062 3732277 4685246 4615785 19060863 25525640 4543220 4741771 162788861 174356672 1720875 2194134 143212322 152893796 144933197 155087930 X 0 0 0 0 17855664 19268742 17855664 19268742 162788861 174356672 1361128 51950 0 X 0 1 X 1 0 1797734 1797734 4220001 1915132 2304869 62831 56025 6806 1645256 1230135 415121 622240 530985 91255 4615785 MEMBER DEPOSITS 152893796 152893796 X PART X, LINE 2: THE CREDIT UNION IS GENERALLY EXEMPT, BY STATUTE, FROM FEDERAL INCOME TAXES AND STATE CORPORATE BUSINESS TAX. HOWEVER, THE CREDIT UNION IS SUBJECT TO FEDERAL TAX ON NET UNRELATED BUSINESS INCOME. THE CREDIT UNION DOES ASSESS THE POTENTIAL OUTCOME OF UNCERATIN TAX POSITIONS, IF ANY, AND WOULD ACCRUE FOR ANY UNCERTAIN TAX BENEFITS, IF APPLICABLE. 1 X X X X 0 1 0 VALERIE MATHIAS SR VP FINANCE/CFO 133722 0 24805 0 0 0 11383 0 17180 0 187090 0 0 0 MARK HETTINGER SR VP OPERATIONS/COO 116663 0 25882 0 0 0 8296 0 10604 0 161445 0 0 0 PART I, LINE 4B THE FOLLOWING INDIVIDUALS PARTICIPATED IN A 457(F) PLAN OFFERED BY THE CREDIT UNION. VALERIE MATHIAS, SR VP FINANCE/CFO $16,621 MARK HETTINGER, SR VP OPERATIONS/COO $9,257 VALERIE MATHIAS CFO LOC X 10000 8800 0 1 1 MARK HETTINGER COO LOC X 10000 4500 0 1 1 DAVID SCHOUTEN CIO LOC X 10000 9782 0 1 1 MIKE ROSEK CEO LOC X 10000 9163 0 1 1 32245 CHRIS NELSON PARTNER 30043 LEGAL SERVICES 0 FORM 990, PART VI, SECTION A, LINE 6 FIRST ALLIANCE CREDIT UNION IS A MEMBER OWNED COOPERATIVE. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BODY, CONSISTING OF SEVEN DIRECTORS, ARE ELECTED BY THE MEMBERSHIP BASE. FORM 990, PART VI, SECTION A, LINE 7B ANY INTERIM APPOINTMENT OF DIRECTORS MUST BE RATIFIED BY THE MEMBERSHIP AT THE NEXT ANNUAL MEETING. ANY AMENDMENT TO THE BY-LAWS MUST BE RATIFIED BY THE MEMBERSHIP AT THE NEXT ANNUAL MEETING. FORM 990, PART VI, SECTION B, LINE 11B THE SR VP OF FINANCE/CFO COORDINATES THE FILING OF FORM 990 ANNUALLY AND IT IS REVIEWED BY THE PRESIDENT/CEO FOR ACCURACY AND COMPLETENESS PRIOR TO TRANSMISSION. FORM 990, PART VI, SECTION B, LINE 12C ALL EMPLOYEE POLICIES, INCLUDING THE CONFLICT OF INTEREST POLICY, ARE REVIEWED WITH STAFF AND VOLUNTEERS ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 THE PERSONNEL COMMITTEE REVIEWS AND APPROVES OFFICER COMPENSATION ANNUALLY. INCREASES ARE BASED, IN PART, ON INDUSTRY COMPARABILITY DATA. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC UPON DEMAND. SUMMARY FINANCIAL STATEMENTS ARE POSTED IN EACH BRANCH LOBBY MONTHLY AND IN AN ANNUAL REPORT TO THE MEMBERSHIP. FORM 990, PART VII CONTACT ADDRESSES FOR OFFICERS, DIRECTORS, ETC GREG EICHTEN - 4418 4TH ST NW, ROCHESTER, MN 55901. HAROLD WOBSCHALL - 617 FOLWELL LN SW, ROCHESTER, MN 55902. CHRIS NELSON - 1465 BELVIOR LN NE, BYRON, MN 55920. BOBBI OLSON - 329 10TH ST NW, BYRON, MN 55920. RUSSELL HESS - 440 5TH ST SW, PLAINVIEW, MN 55964. COLE BAESSLER - 1009 SAINT PAUL AVE, SAINT PAUL, MN 55116. THERESA HORNBERG - 402 2ND ST NW, STEWARTVILLE, MN 55976. MANUAL MONTES - 1807 2ND AVE NW, AUSTIN, MN 55912.