2013-04-26T17:03:56-07:00 2012-12-31 990 2012-01-01 410429399 First Alliance Credit Union FIRS 5072880330 320 Alliance Place NE Rochester MN 55906 Valerie Mathias 5072817609 2013-03-31 2012 2016-02-25 16:41:14Z Kelly McDonough CEO 320 Alliance Place NE Rochester MN 55906 8653555 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 50 10 0 0 0 0 6230631 7392571 589615 438078 0 15898 6820246 7846547 0 0 1176095 1152199 2004508 2294509 0 0 0 2797566 3125753 5978169 6572461 842077 1274086 118549061 130941667 105495277 116411906 13053784 14529761 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 3286231 0 3923274 Pay interest and dividends on amounts deposited by members. 1314492 0 1569309 Provide free checking and cash handling services to members. 1971738 0 2353964 Provide residential mortgage, home improvement, commercial, and other misc. loans to members. 0 0 0 6572461 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 6340 0 1 50 1 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 Kelly McDonough President CEO 5072817602 320 Alliance Place NE Rochester MN 55906 Greg Eichten 3 0 X 0 0 0 Harold Wobschall 3 0 X 0 0 0 Scott Hoss 3 0 X 0 0 0 Bobbi Olson 3 0 X 0 0 0 Jenny Hegland 3 0 X 0 0 0 Russell Hess 3 0 X 0 0 0 Elizabeth Kueper 3 0 X 0 0 0 Stan Cram 3 0 X 0 0 0 Kelly McDonough 50 0 X 177567 0 26824 Mark Hettinger 50 0 X 111763 0 8734 Valerie Mathias 50 0 X 112790 0 18493 402120 0 54051 3 0 1 0 Fiserv 455 S Gulph Rd Ste 201 King of Prussia PA 19406 Core Data Processor 585144 Olmsted County PRL 151 4th St SE Rochester MN 55904 Property Tax Collector 172727 2 0 Interest on Loans 900099 4307548 4307548 0 0 Credit Card Income 522210 206688 206688 0 0 Loan Income & Fees 900099 1262314 1262314 0 0 Member Service Fees 900099 1616021 1616021 0 0 0 0 0 0 7392571 510770 510770 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 734316 0 807008 0 -72692 -72692 -72692 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Bargain Purchase Gain 900099 15898 15898 0 0 0 0 0 0 15898 7846547 7846547 0 0 0 0 0 1152199 456171 0 1397444 69452 226843 144599 0 28566 47797 0 0 0 215752 221077 291137 340371 0 284808 52457 0 84936 8168 36403 339041 143278 Credit Card Expense 146910 Provision for Loan Loss 290000 Lending Expense 514960 80092 6572461 0 0 0 1562088 1469681 26200583 31253862 0 0 326172 342732 679381 665648 0 0 75545676 84243160 0 0 155937 161055 7898760 3004338 5095623 4894422 6916955 6294270 0 0 0 0 0 0 2066646 1616837 118549061 130941667 2342539 1073960 0 0 17870 6886 0 0 0 0 0 0 0 0 0 0 103134868 115331060 105495277 116411906 X 0 0 0 0 13053784 14529761 13053784 14529761 118549061 130941667 X 1274086 -19685 0 0 0 221576 X 0 1 X 1 0 0 1797734 1797734 0 3881509 1315453 2566056 0 0 0 0 0 1612216 1194064 418152 0 607301 494821 112480 4894422 0 Member Deposits 115331060 115331060 X SchD_P10_S00_L02 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 0 0 Kelly McDonough 148852 0 28715 0 0 0 11259 0 15565 0 204391 0 0 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a The Credit Union paid membership dues to Rochester Park & Recreation for persons listed on Form 990, Part VII, Section A, Line 1a. Membership entitles the Credit Union to use of municipal golf facilities for business development, meetings, and other organizational events. Kelly McDonough President/CEO LOC X 10000 2000 0 1 1 Mark Hettinger VP Operations LOC X 10000 10000 0 1 1 Mark Hettinger VP Operations 1st Mortgage X 253300 232607 0 1 1 Valerie Mathias VP Finance/CFO LOC X 10000 9200 0 1 1 Valerie Mathias VP Finance/CFO 1st Mortgage X 463267 411841 0 1 1 665648 F990_P06_S0A_L06 Form 990, Part VI, Section A, Line 6 First Alliance Credit Union is a member owned cooperative. F990_P06_S0A_L07a Form 990, Part VI, Section A, Line 7a The governing body, consisting of seven directors, are elected by the membership base. F990_P06_S0A_L07b 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. F990_P06_S0A_L09 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; Scott Hoss 913 8th Ave SW, Rochester, MN 55902; Bobbi Olson 329 10th St NW, Byron, MN 55920; Jenny Hegland PO Box 403, Rochester, MN 55903; Russell Hess 440 5th St SW, Plainview, MN 55964; Elizabeth Kueper 17241 452nd Street Way, Zumbrota, MN 55992; Stan Cram 720 Scenario Ln SW, Rochester, MN 55902 F990_P06_S0B_L11b Form 990, Part VI, Section B, Line 11b The VP of Finance/CFO prepares Form 990 annually and it is reviewed by the President/CEO for accuracy and completeness prior to transmission. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c All employee policies, including the Conflict of Interest Policy, are reviewed with staff and volunteers annually. F990_P06_S0B_L15 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. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 The organization makes its governing documents and Conflict of Interst 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. F990_P11_S00_L09 Form 990, Part XI, Line 9 Other changes in net assets or fund balances equals total regular reserves and undivided earnings obtained from merger with Rochester Dairy Cooperative Employees Credit Union on 10/01/12.