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National Credit Union Service Organization

FIRST ALLIANCE CREDIT UNION

Dec, 31, 2023 — FIRST ALLIANCE CREDIT UNION is a federally insured state chartered credit union headquartered in STEWARTVILLE, MN with 5 branch locations and about $282.65 million in total assets. Opened 92 years ago in 1932, FIRST ALLIANCE CREDIT UNION has about 20,366 members and employs 68 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 291975481
Name:FIRST ALLIANCE CREDIT UNION
Address:
(Main Office)
300 Main ST N
STEWARTVILLE, MN 55976-1235
Phone:(507) 288-0330
Fax:(507) 280-8329
Website:https://www.firstalliancecu.com
Branches:5 branch locations
Members:20,366
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:62872
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1932
Last Audited:Mar 01, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$282,646,387
CEO/Manager:Brent Rempe
Chairperson:Theresa Hornberg

Call Report

  • Credit Builder
  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 14,265,121
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 91,861,681
 Unsecured Loans 23,015,598
 Other Loans 109,333,022
 TOTAL LOANS 224,210,301
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -2,064,214
 Land And Building 6,133,560
 Other Fixed Assets 1,996,353
 NCUSIF Deposit 2,352,272
 All Other Assets 88,398
  TOTAL ASSETS 282,646,387
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 7,000,000
 Accounts Payable & Other Liabilities 4,773,199
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 59,939,623
 Regular shares 65,079,732
 All Other Shares & Deposits 118,653,977
  TOTAL SHARES & DEPOSITS 243,673,332
  TOTAL LIABILITIES 255,541,222
 Regular Reserve 0
 Other Reserves -1,141,963
 Undivided Earnings 28,247,128
  TOTAL EQUITY 27,105,165
  TOTAL LIABILITIES, SHARES, & EQUITY 282,646,387
INCOME & EXPENSE  
 Loan Income 13,701,099
 Investment Income 788,072
 Other Income 1,625,345
 Total Employee Compensation & Benefits 6,389,485
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 7,679,243
 Non-operating Income & (Expense) 151,449
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 1,102,712
 Cost of Funds 2,955,477
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 2,525,769
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