Jun, 30, 2024 — FIRST ALLIANCE CREDIT UNION is a federally insured state chartered credit union headquartered in STEWARTVILLE, MN with 6 branch locations and about $277.02 million in total assets. Opened 93 years ago in 1932, FIRST ALLIANCE CREDIT UNION has about 19,822 members and employs 71 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 |
|---|---|
| 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: | 6 branch locations |
| Members: | 19,822 |
| 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, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $277,015,833 |
| CEO/Manager: | Michael T Rosek |
| Chairperson: | Theresa Hornberg |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 10,735,511 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 609,660 |
| Real Estate Loans | 82,106,770 |
| Unsecured Loans | 22,229,530 |
| Other Loans | 103,869,630 |
| TOTAL LOANS | 208,205,930 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,448,357 |
| Land And Building | 9,382,220 |
| Other Fixed Assets | 2,472,099 |
| NCUSIF Deposit | 2,282,776 |
| All Other Assets | 80,363 |
| TOTAL ASSETS | 277,015,833 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 1,000,000 |
| Accounts Payable & Other Liabilities | 4,003,962 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 62,287,664 |
| Regular shares | 72,629,677 |
| All Other Shares & Deposits | 112,540,333 |
| TOTAL SHARES & DEPOSITS | 247,457,674 |
| TOTAL LIABILITIES | 252,461,636 |
| Regular Reserve | 0 |
| Other Reserves | -1,417,411 |
| Undivided Earnings | 25,971,608 |
| TOTAL EQUITY | 24,554,197 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 277,015,833 |
| INCOME & EXPENSE | |
| Loan Income | 7,418,884 |
| Investment Income | 492,773 |
| Other Income | 1,392,550 |
| Total Employee Compensation & Benefits | 4,642,858 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 5,548,887 |
| Non-operating Income & (Expense) | -19,951 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 191,000 |
| Cost of Funds | 308,792 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,260,534 |
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