2016-04-21T14:56:24-07:00 2015-12-31 990 2015-01-01 410429399 First Alliance Credit Union FIRS 5072880330 320 Alliance Place NE Rochester MN 55906 Valerie Mathias VP of Finance/CFO 5072817609 2016-03-29 2015 2016-09-27 15:27:22Z Kelly McDonough 320 Alliance Place NE Rochester MN 55906 8405260 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 services that promote the economic well-being of our present and future members. 7 7 63 10 2400 0 0 0 6919726 7459058 496336 517922 0 0 7416062 7976980 0 0 916731 973877 2773392 2898690 0 0 0 3162098 3355229 6852221 7227796 563841 749184 142836647 156193065 126779221 139400044 16057426 16793021 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 3613898 3988490 Pay interest and dividends on amounts deposited by members. 1445559 1595396 Provide free checking and cash handling services to members. 2168339 2393094 Provide residential mortgage, home improvement, commercial, and other misc. loans to members. 0 0 0 7227796 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 0 0 0 0 0 0 0 0 0 1 3926 0 1 63 1 1 1 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 Kelly McDonough President CEO 5072817602 320 Alliance Place NE Rochester MN 55906 Greg Eichten Director 3 0 X 0 0 0 Harold Wobschall Director 3 0 X 0 0 0 Chris Nelson Director 3 0 X 0 0 0 Bobbi Olson Director 3 0 X 0 0 0 Russell Hess Director 3 0 X 0 0 0 Cole Baessler Director 3 0 X 0 0 0 Theresa Hornberg Director 3 0 X 0 0 0 Brian Smidt Director 3 0 X 0 0 0 Jenny Hegland Director 3 0 X 0 0 0 Kelly McDonough President/CEO 50 0 X 192078 0 23273 Mark Hettinger SVP Operations 50 0 X 121292 0 12369 Valerie Mathias SVP Finance/CFO 50 0 X 120241 0 22426 David Schouten VP IT 50 0 X 94611 0 19547 528222 0 77615 3 0 1 0 Fiserv 255 Fiserv Dr Brookfield WI 53045 Core Data Processor 761827 Olmsted County PRL 151 4th St SE Rochester MN 559043716 Property Tax Collector 160140 2 0 0 0 0 0 0 0 0 Interest on Loans 900099 4563236 4563236 0 0 Credit Card Income 522210 229107 229107 0 0 Loan Income & Fees 900099 586331 586331 0 0 Member Service Fees 900099 2080384 2077984 2400 0 0 0 0 0 7459058 515118 515118 0 0 15500 15500 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 300450 115134 303466 124814 -3016 -9680 -12696 -12696 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 7976980 7974580 2400 0 0 0 0 973877 605837 0 1733873 66654 331822 160504 1250 21114 42543 0 0 11626 256949 254741 316236 522591 0 338849 65235 0 93007 208 47233 415062 49215 Credit Card Expense 193083 Provision for Loan Loss 146000 Lending Expense 455774 124513 7227796 0 0 0 1390068 1243428 28870292 30766076 0 0 39813 52682 22594 37882 0 0 93361684 103195811 0 0 174000 153140 7960063 3277686 4957552 4682377 12194202 11920042 0 0 0 0 0 0 1826442 4141627 142836647 156193065 787755 1247820 0 0 0 0 0 0 0 0 0 0 0 0 0 0 125991466 138152224 126779221 139400044 X 0 0 0 0 16057426 16793021 16057426 16793021 142836647 156193065 749184 -13589 0 0 0 0 X 0 1 X 1 0 0 1797734 1797734 0 3968776 1745147 2223629 0 56053 34549 21504 0 1511294 940171 571123 0 626206 557819 68387 4682377 0 Member Deposits 138152224 138152224 X Schedule D, 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 uncertain tax positions, if any, and would accrue for any uncertain tax benefits, if applicable. X 1 1 X X X X 0 1 0 Kelly McDonough President/CEO 169770 0 22308 0 0 0 10276 0 12997 0 215351 0 0 0 Schedule J, Part I, Line 1a The Credit Union paid membership dues to Eastwood Golf Course and Rochester Golf & Country Club for persons listed on Form 990, Part VII, Section A, Line 1a. Membership entitles the Credit Union to use of facilities for business development, meetings, and other organizational events. Schedule J, Part I, Line 4 The following individuals participated in a 457(f) plan offered by the Credit Union: Kelly McDonough, President/CEO $97,037 Mark Hettinger, SR VP Operations $5,329 Valerie Mathias, SR VP Finance/CFO $9,562 Kelly McDonough President LOC X 10000 9500 0 1 1 Mark Hettinger Sr VP Op LOC X 10000 10000 0 1 1 Valerie Mathias Sr VP Fin LOC X 10000 8400 0 1 1 David Schouten VP IT LOC X 10000 9982 0 1 1 37882 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 A, Line 9 Greg Eichten 4418 4th St NW, Rochester, MN 55901; Harold Wobschall 617 Folwell Ln SW, Rochester, MN 55902; Chris Nelson 660 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; Brian Smidt 617 23rd St NE, Rochester, MN 55906; Jenny Hegland PMB 4433 PO Box 10002, Saipan, MP 96950 Form 990, Part VI, Section B, Line 11b The SR VP of Finance/CFO prepares 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.