2012-04-26T16:00:52-07:00 2011-12-31 990 2011-01-01 410429399 FIRST ALLIANCE CREDIT UNION FIRS 5072880330 320 Alliance Place NE Rochester MN 55906 Valerie Mathias 5072817609 2012-04-23 2011 2016-02-24 21:20:13Z Kelly McDonough CEO 320 Alliance Place NE Rochester MN 55906 7929497 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 49 10 0 0 0 0 6082815 6230631 707513 589615 0 0 6790328 6820246 0 0 1351191 1176095 2007387 2004508 0 0 0 2683549 2797566 6042127 5978169 748201 842077 111977880 118549061 99769998 105495277 12207882 13053784 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 2989085 3410123 Pay interest and dividends on amounts deposited by members. 1195634 1364049 Provide free checking and cash handling services to members. 1793450 2046074 Provide residential mortgage, home improvement, commercial, and other misc. loans to members. 0 0 0 5978169 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 1 1 0 0 0 0 0 0 0 0 0 0 1 6015 0 1 49 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 X 0 0 0 Harold Wobschall 3 X 0 0 0 Scott Hoss 3 X 0 0 0 Bobbi Olson 3 X 0 0 0 Stan Cram 3 X 0 0 0 Jenny Hegland 3 X 0 0 0 Russell Hess 3 X 0 0 0 Jim Loehr 3 X 0 0 0 Kelly McDonough 50 X 139952 0 27782 Mark Hettinger 50 X 100852 0 11952 Valerie Mathias 50 X 90793 0 16604 331597 0 56338 2 0 1 0 First American Title Insurance Company 801 Nicollet Mall Ste 1900 Minneapolis MN 55402 Lot Purchase 427660 Fiserv 455 S Gulph Rd Ste 201 King of Prussia PA 19406 Core Data Processor 412048 Reiter & Schiller PA 25 North Dalo St St Paul MN 55102 1st Mortgage Buyout 295792 Preferred One Insurance Company PO Box 1450 Minneapolis MN 55485 Health Insurer 169097 Olmsted County PRL 151 4th St SE Rochester MN 55904 Property Tax Collector 131943 5 0 0 0 0 0 0 0 0 Interest on Loans 900099 4197915 4197915 0 0 Credit Card Income 522210 190453 190453 0 0 Loan Income & Fees 900099 353761 353761 0 0 Member Service Fees 900099 1488502 1488502 0 0 0 0 0 0 6230631 621784 621784 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1000944 76138 1000000 109251 944 -33113 -32169 -32169 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 6820246 6820246 0 0 0 0 0 1176095 387935 0 1181677 61224 243343 130329 0 24974 40559 0 0 0 159851 215929 251671 317841 0 257128 50551 0 78363 15056 37783 348446 252527 Credit Card Expense 126366 Provision for Loan Loss 313000 Lending Expense 235736 71785 5978169 0 0 0 1506552 1562088 27658621 26200583 0 0 34893 326172 694032 679381 0 0 72630110 75545676 0 0 138683 155937 7839850 2744227 4769225 5095623 3282754 6916955 0 0 0 0 0 0 1263010 2066646 111977880 118549061 2263702 2342539 0 0 0 17870 0 0 0 0 0 0 0 0 0 0 97506296 103134868 99769998 105495277 X 0 0 0 0 12207882 13053784 12207882 13053784 111977880 118549061 X 842077 3825 X 0 1 1 X 0 0 1797734 1797734 0 3865199 1169596 2695603 0 0 0 0 0 1574297 1094559 479738 0 602620 480072 122548 5095623 0 Member Deposits 103134868 103134868 SchD_P10_S00_L02 Schedule D, Part X, Line 2 The Credit Union adopted the income tax standard for uncertain tax positions on April 1, 2009. As a result of the implementation, the Credit Union evaluated its tax positions and determined no uncertain tax positions exist as of March 31, 2011. X 1 1 X X X 0 0 0 Kelly McDonough 126452 0 13500 0 0 0 10563 0 17219 0 167734 0 0 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a The credit union paid membership dues to Eastwood Golf Course for persons listed on Form 990, Part VII, Section A, Line 1a. Membership entitles the credit union to use of club facilities for business development, meetings, and other organizational events. Mark Hettinger Signature Loan X 10000 10000 0 1 1 Mark Hettinger 1st Mortgage Loan X 253300 237217 0 1 1 Valerie Mathias Signature Loan X 10000 8600 0 1 1 Valerie Mathias 1st Mortgage Loan X 463267 423564 0 1 1 679381 Dr Cram Photography Director Owned 441 Professional Photography 0 Alexander Schuler Officer's Son 325 Landscaping/Building Maintenance 0 Brad's Lawn Care & Snow Removal Director's Son 5715 Grounds Maintenance 0 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 Lane SW, Rochester, MN 55902; Scott Hoss 913 8th Ave SW, Rochester, MN 55902; Bobbi Olson 329 10th St NW, Byron, MN 55920; Stan Cram 720 Scenario Lane SW, Rochester, MN 55902; Jenny Hegland, PO Box 403, Rochester, MN 55903; Russell Hess 440 5th St SW, Plainview, MN 55964; Jim Loehr 6569 65th Ave SE, Rochester, MN 55904 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 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. F990_P11_S00_L05 Form 990, Part XI, Line 5 Other changes in net assets or fund balances is equal to net change in unrealized gains/losses on investments furing the year.