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.
Name: | FIRST ALLIANCE CREDIT UNION |
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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 |
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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 |
ASSETS: | $ Amount |
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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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