2020-10-02T16:44:34-05:00 2019-12-31 420714325 RSM US LLP 801 NICOLLET MALL WEST TOWER STE 1100 MINNEAPOLIS MN 554022526 990 2019-01-01 410429399 FIRST ALLIANCE CREDIT UNION FIRS 5072880330 300 N MAIN STREET STEWARTVILLE MN 55976 MIKE ROSEK PRESIDENT/CEO 5072880330 2020-09-30 1 KACIE MCEWEN P01599614 6123324300 2020-09-30 68.47.31.197 2020-09-30 13:05:22 CD P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 B56786F7D21A8F39D00ED83C272556B8DDCB8C36 2019 2021-04-22 16:20:28Z X MIKE ROSEK 300 N MAIN STREET STEWARTVILLE MN 55976 14545688 0 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 80 10 7337 -2291 0 0 11264521 13187049 740166 656933 0 0 12004687 13843982 0 0 1344122 969929 4316256 5334814 0 0 0 4956723 6677060 10617101 12981803 1387586 862179 193018357 207900558 172668635 186234007 20349722 21666551 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 PAY INTEREST AND DIVIDENDS ON AMOUNTS DEPOSITED BY MEMBERS. PROVIDE FREE CHECKING AND CASH HANDLING SERVICES TO MEMBERS. PROVIDE RESIDENTIAL MORTGAGE, HOME IMPROVEMENT, COMMERCIAL AND OTHER MISCELLANEOUS LOANS TO MEMBERS. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 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 5412 0 1 80 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 0 1 1 1 0 MN X MIKE ROSEK PRESIDENTCEO 5072880330 300 N MAIN STREET STEWARTVILLE MN 55976 MIKE ROSEK PRESIDENT/CEO/TREASURER 50.00 X 247696 0 65103 VALERIE MATHIAS SVP FINANCE/CFO 50.00 X 223773 0 62885 MARK HETTINGER EVP/COO 50.00 X 199662 0 47728 DAVID SCHOUTEN SVP IT/CIO 50.00 X 141504 0 58365 THERESA HORNBERG CHAIR/DIRECTOR 3.00 X X 0 0 0 BOBBI OLSON VICE CHAIR/DIRECTOR 3.00 X X 0 0 0 RUSSELL HESS SECRETARY/DIRECTOR 3.00 X X 0 0 0 JULIAN CURRIE DIRECTOR 3.00 X 0 0 0 ALAN MICHAEL DEBOLT DIRECTOR 3.00 X 0 0 0 CHRIS NELSON DIRECTOR 3.00 X 0 0 0 HILARY STONELAKE-CURTIS DIRECTOR 3.00 X 0 0 0 HAROLD WOBSCHALL DIRECTOR 3.00 X 0 0 0 812635 0 234081 4 0 1 0 THE BOLDT COMPANY 2525 N ROEMER RD APPLETON WI 549120419 BUILDING CONTRACTOR 2257982 FISERV 255 FISERV DR BROOKFIELD WI 53045 CORE PROCESSOR 1307154 SCHMIDT-GOODMAN OFFICE PRODUCTS INC 1920 N BROADWAY ROCHESTER MN 55906 FURNITURE SUPPLIER 177672 HTG ARCHITECTS 9300 HENNEPIN TOWN RD EDEN PRAIRIE MN 55347 ARCHITECTURAL FIRM 152907 PRESIDIO NETWORKED SOLUTIONS GROUP LLC PO BOX 677638 DALLAS TX 752677638 IT SOLUTIONS 111293 5 INTEREST ON LOANS 900099 8867058 8867058 MEMBER SERVICES FEES 900099 3360710 3353373 7337 LOAN INCOME & FEES 900099 612342 612342 CREDIT CARD INCOME 522100 346939 346939 13187049 813368 813368 107886 437385 98528 603178 9358 -165793 -156435 -156435 13843982 13179712 7337 656933 969929 1048357 3072666 163014 749346 301431 21342 53589 9720 327860 515543 356290 720776 356313 86241 183754 187849 68468 383443 70436 PROVISION FOR LOAN LOSS 1280000 ATM EXPENSE 950549 LENDING EXPENSE 516970 CREDIT CARD EXPENSE 391895 196022 12981803 914530 1884373 11178929 9015445 69455 80660 38128 37979 148473663 159644510 326392 282956 13636646 4418446 4378802 9218200 22558713 19168489 5079745 8567946 193018357 207900558 11701722 3113862 160966913 183120145 172668635 186234007 X 0 0 0 0 20349722 21666551 20349722 21666551 193018357 207900558 862179 454650 0 X 0 1 X 1 0 2339735 2339735 8431708 2213002 6218706 2100596 1582633 517963 764607 622811 141796 9218200 MEMBER DEPOSITS 183120145 183120145 X 1 1 X X X X 0 1 0 MIKE ROSEK PRESIDENT/CEO/TREASURER 221796 0 25900 0 0 0 24405 0 41216 0 313317 0 0 0 VALERIE MATHIAS SVP FINANCE/CFO 137643 0 86130 0 0 0 34449 0 28811 0 287033 0 0 0 MARK HETTINGER EVP/COO 145063 0 54599 0 0 0 27470 0 20646 0 247778 0 0 0 DAVID SCHOUTEN SVP IT/CIO 125826 0 15678 0 0 0 12901 0 45824 0 200229 0 0 0 PART I, LINE 4B THE FOLLOWING INDIVIDUALS PARTICIPATED IN A 457(F) PLAN OFFERED BY THE CREDIT UNION. MIKE ROSEK, PRESIDENT/CEO, ACCRUED $11,525 VALERIE MATHIAS, SR VP FINANCE/CFO, ACCRUED $21,577 MARK HETTINGER, EXECUTIVE VP/COO, ACCRUED $15,128 DAVID SCHOUTEN, SVP/CIO, ACCRUED $9,799 THERE WERE NO DISTRIBUTIONS DURING 2019. VALERIE MATHIAS CFO LOC X 10000 8800 0 1 1 MARK HETTINGER COO LOC X 10000 10000 0 1 1 DAVID SCHOUTEN CIO LOC X 10000 9787 0 1 1 MIKE ROSEK CEO LOC X 10000 9392 0 1 1 37979 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 SVP FINANCE/CFO COORDINATES PREPARATION 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 FOR THE SAME PERIOD OF TIME AS REQUIRED IN SECTION 6104. SUMMARY FINANCIAL STATEMENTS ARE POSTED IN EACH BRANCH LOBBY MONTHLY AND IN AN ANNUAL REPORT TO THE MEMBERSHIP.