2017-05-03T09:19:47-05:00 2016-12-31 420714325 RSM US LLP 310 BROADWAY AVENUE S SUITE 300 ROCHESTER MN 55904 990 2016-01-01 410429399 FIRST ALLIANCE CREDIT UNION FIRS 5072880330 320 ALLIANCE PLACE NE ROCHESTER MN 55906 VALERIE MATHIAS INTERIM PRESIDENT/CEO 5072880330 2017-05-02 1 DANIEL W EDWARDS P00043974 5072886476 108.171.131.188 2017-05-02 11:17:32 CD P F0762F06199A07E132F7E632A817E1E2BB8FF392 ED2AFCAB9FBD4A6D99907F4D9339665864137A82 2016 2021-01-29 14:40:06Z VALERIE MATHIAS 320 ALLIANCE PLACE NE ROCHESTER MN 55906 11596217 0 6060 X WWW.FIRSTALLIANCECU.COM X COOPERATIVE 1932 MN FIRST ALLIANCE CREDIT UNION IS A MEMBER OWNED AND CONTROLLED FINANCIAL INSTITUTION PROVIDING PERSONALIZED, COMPETITIVE DEPOSIT AND LOAN SRVICES THAT PROMOTE THE ECONOMIC WELL-BEING OF OUR PRESENT AND FUTURE MEMBERS. 7 7 68 10 4280 0 0 0 7459058 8500865 517922 586675 0 0 7976980 9087540 0 0 973877 1032349 2898690 3144720 0 0 0 3355229 3683868 7227796 7860937 749184 1226603 156193065 162788861 139400044 144933197 16793021 17855664 X FIRST ALLIANCE CREDIT UNION IS A MEMBER OWNED AND CONTROLLED FINANCIAL INSTITUTION PROVIDING PERSONALIZED, COMPETITIVE DEPOSIT AND LOAN SERVICES THAT PROMOTE THE ECONOMIC WELL-BEING OF OUR PRESENT AND FUTURE MEMBERS. ALL INCOME IS USED TO PAY OPERATING EXPENSES OR RETURNED TO MEMBERS IN THE FORM OF DIVIDENDS OR SERVICES. 0 0 3930469 4543770 PAY INTEREST AND DIVIDENDS ON AMOUNTS DEPOSITED BY MEMBERS. 1572187 1817508 PROVIDE FREE CHECKING AND CASH HANDLING SERVICES TO MEMBERS. 2358281 2726262 PROVIDE RESIDENTIAL MORTGAGE, HOME IMPROVEMENT, COMMERCIAL AND OTHER MISCELLANEOUS LOANS TO MEMBERS. 7860937 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 4479 0 1 68 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 VALERIE MATHIAS INTERIM PRESIDENTCEO 5072817609 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 VALERIE MATHIAS INTERIM PRESIDENT/CEO/SR VP FINANCE/CFO 50.00 X 146693 0 26239 MARK HETTINGER SR VP OPERATIONS 50.00 X 133601 0 14477 DAVID SCHOUTEN VP IT 50.00 X 107169 0 28219 KELLY MCDONOUGH PRESIDENT/CEO (TERM 10/06/16) 50.00 X 108081 0 16592 495544 0 85527 4 0 1 0 FISERV 255 FISERV DR BROOKFIELD WI 53045 CORE PROCESSOR 989537 OLMSTED COUNTY PRL 151 4TH ST SE ROCHESTER MN 559043716 PROPERTY TAX COLLECTOR 172265 RAOUST PARTNERS 516 SETTLERS LANDING RD HAMPTON VA 23669 MARKETING CONSULTANT 161392 3 INTEREST ON LOANS 900099 5101538 5101538 MEMBER SERVICES FEES 900099 2339349 2335069 4280 LOAN INCOME & FEES 900099 816379 816379 CREDIT CARD INCOME 522100 243599 243599 8500865 599571 599571 15500 15500 2255816 224465 2254715 253962 1101 -29497 -28396 -28396 9087540 9083260 4280 0 1032349 581071 1969022 82401 333816 178410 625 93848 44784 18521 242690 366347 315682 480483 343962 48212 89460 45980 369572 47948 LENDING EXPENSE 488950 PROVISION FOR LOAN LOSS 333000 CREDIT CARD EXPENSE 219175 134629 7860937 1243428 1557553 30766076 16460331 0 0 52682 56299 37882 28982 0 103195811 116133993 0 0 153140 262374 8033982 3348736 4682377 4685246 11920042 19060863 0 0 0 0 0 0 4141627 4543220 156193065 162788861 1247820 1720875 138152224 143212322 139400044 144933197 X 0 0 0 0 16793021 17855664 16793021 17855664 156193065 162788861 1226603 -163960 0 X 0 1 X 1 0 1797734 1797734 4055243 1773149 2282094 62831 51602 11229 1556163 1022739 533424 562011 501246 60765 4685246 MEMBER DEPOSITS 143212322 143212322 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. X 1 1 X X X X 0 1 0 VALERIE MATHIAS INTERIM PRESIDENT/CEO/SR VP FINANCE/ 124656 0 22037 0 0 0 10530 0 15709 0 172932 0 0 0 PART I, LINE 1A THE CREDIT UNION PAID MEMBERSHIP DUES TO ROCHESTER GOLF & COUNTRY CLUB FOR PERSONS LISTED ON FORM 990, PART VII, SECTION A, LINE 1A. MEMBERSHIP ENTITLES THE CREDIT UNION THE USE OF FACILITIES FOR BUSINESS DEVELOPMENT MEETINGS AND OTHER ORGANIZATIONAL EVENTS. PART I, LINE 4B VALERIE MATHIAS, INTERM PRESIDENT/CEO $16,392 MARK HETTINGER, SR VP OPERATIONS $9,136 KELLY MCDONUGH, PRESIDENT/CEO $138,624 VALERIE MATHIAS INTERIM CEO LOC X 10000 9000 0 1 1 MARK HETTINGER SR VP OP LOC X 10000 10000 0 1 1 DAVID SCHOUTEN VP IT LOC X 10000 9982 0 1 1 28982 CHRIS NELSON DIRECTOR 25281 LEGAL SERVICES 0 FORM 990, PART VI, SECTION A, LINE 9: GREG EICHTEN 4418 4TH ST NW, ROCHESTER, MN 55901 HAROLD WOBSCHALL 617 FOLWELL LN SW, ROCHESTER, MN 55902 CHRIS NELSON 606 SHARDLOW PL NE, BYRON, MN 55920 BOBBI OLSON 329 10TH ST NW, BYRON, MN 55920 RUSSELL HESS 440 5TH ST SW, PLAINVIEW, MN 55964 COLE BAESSLER 3601 PARK CENTER BLVD #604, MINNEAPOLIS, MN 55416 THERESA HORNBERG 402 2ND ST NW, STEWARTVILLE, MN 55976 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 SELECTED 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 CORDINATES 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.