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Nonprofit · EIN 41-0429399

FIRST ALLIANCE CREDIT UNION

Tax-exempt · ROCHESTER, MN 55904

Financials

$20.7M$18.1M2023$21.3M$19.1M2024
Revenue Expenses · by fiscal year end
Financials of FIRST ALLIANCE CREDIT UNION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$21,320,406$19,147,066$2,173,340$270,318,423$242,048,609$28,269,814
December 31, 2023990$20,652,686$18,126,917$2,525,769$282,573,969$255,468,805$27,105,164
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$0
Program service revenue
$19,843,818
Investment income
$1,476,588
Net gain from sales of assets
$6,864
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Benefits paid to members
$3,179,287
Compensation of officers, directors and key employees
$1,163,819
Other salaries and wages
$3,606,182
Salaries, compensation and benefits (total)
$6,369,991
Professional fundraising fees
$0
Legal fees
$124,025
Accounting fees
$74,800
Occupancy
$491,331
Travel
$86,839
Depreciation
$721,475
Program services (functional)
$3,179,287

Balance sheet and other

Total assets, start of year
$282,573,969
Total assets, end of year
$270,318,423
Total liabilities, end of year
$242,048,609
Net assets, end of year
$28,269,814
Land, buildings and equipment
$7,687,992
Publicly traded securities
$17,800,455
Gross unrelated business income
$12,084
Gross receipts
$22,111,159
Employees
83
Volunteers
0
Year formed
1932
State of legal domicile
MN

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
Valerie MathiasSVP of Finance - CFO
Officer
50$396,964$76,722
Brent RempePresident - CEO
Officer
50$233,489$128,940
Andrea AllenChief Revenue Officer
Officer
50$150,656$47,936
Jeremiah HalloranAVP Digital Services Technology
Highest-paid employee
40$135,895$46,007
Christine JensenController
Highest-paid employee
40$157,083$24,374
Jenna TaubelAVP of Marketing
Highest-paid employee
40$121,196$34,298
Michael RosekCEO Former
Former
0$111,005$0
Theresa HornbergBoard Director
Trustee or director
2.2$4,024$0
Jane DrennanBoard Chair
Trustee or director, Officer
3.2$3,839$0
Roberta OlsonBoard Director
Trustee or director
1.9$2,743$0
Josefina Pozas GuzmanBoard Director
Trustee or director
1.3$2,126$0
Rawhi SaidBoard Director
Trustee or director
1.2$1,937$0
Alan Michael DeBoltVice Chair
Trustee or director, Officer
0.8$1,296$0
Russell HessBoard Secretary
Trustee or director, Officer
1$1,167$0
Julian CurrieBoard Director
Trustee or director
0.5$975$0
990 for the year ended December 31, 2023: 17 people
NameTitleHours / weekCompensationOther / benefits
MIKE ROSEKEMERITUS PRESIDENT/CEO
Officer
50$408,493$71,395
VALERIE MATHIASSVP FINANCE/CFO
Officer
50$207,730$70,960
ANDREA ALLENDIRECTOR OF LENDING
Highest-paid employee
40$118,569$46,100
LISETT COMAI-LEGRANDDIRECTOR OF RETAIL & MBR EXPER
Highest-paid employee
40$128,665$33,875
JEREMIAH HALLORANDIRECTOR OF DIGITAL SERVICES
Highest-paid employee
40$113,034$45,741
BRENT REMPEPRESIDENT/CEO
Officer
50$129,264$17,153
CHRISTINE JENSENCONTROLLER
Highest-paid employee
40$108,075$30,074
NANCY HUBERDIRECTOR OF HUMAN RESOURCES
Highest-paid employee
40$115,636$19,446
DAVID SCHOUTENSVP/CIO
Officer
50$72,474$15,421
MARK HETTINGEREVP/COO
Officer
50$66,964$13,421
THERESA HORNBERGCHAIR/DIRECTOR
Trustee or director, Officer
4.5$6,991$0
JANE DRENNANDIRECTOR
Trustee or director
3.3$5,151$0
ROBERTA OLSONDIRECTOR
Trustee or director
2.1$3,348$0
RUSSELL HESSSECRETARY/DIRECTOR
Trustee or director, Officer
1.1$2,713$0
RAWHI SAIDDIRECTOR
Trustee or director
1.4$2,332$0
ALAN MICHAEL DEBOLTVICE CHAIR/DIRECTOR
Trustee or director, Officer
1.1$1,686$0
JULIAN CURRIEDIRECTOR
Trustee or director
1.2$1,616$0

Address and contacts

Address (IRS master file)
501 16TH ST SE, ROCHESTER, MN 55904-5234
Principal officer (990 for 2024)
Brent Rempe, 501 16th Street SE, ROCHESTER, MN 559041235
Signed the 990
Brent Rempe, CEO

Mission

We show up. We listen to your story. We provide possibilities. As a not-for-profit financial cooperative we aim to create a financial oasis where everyone has access to the opportunities they deserve.

990 for the year ended December 31, 2024

Program accomplishments

  • Pay interest and dividends on amounts deposited by members.
    Expenses $3,179,287
  • Provide checking and cash handling services to members
    revenue $4,248,731
  • Provide residential mortgage home improvement commercial and other miscellaneous loans to members.
    revenue $15,595,087

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Check at the IRS
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
41-0429399
Tax-exempt status
501(c)(14): State-chartered credit union
Donations deductible
No
Exempt since
1944
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$300,916,008
Income (IRS master file)
$23,223,441

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$21,320,406$19,147,066$270,318,423XML
990December 2023$20,652,686$18,126,917$282,573,969XML
990December 2022$16,521,407$14,787,855$288,094,542IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 41-0429399).

Questions about FIRST ALLIANCE CREDIT UNION

What is the EIN of FIRST ALLIANCE CREDIT UNION?
The employer identification number (EIN) of FIRST ALLIANCE CREDIT UNION is 41-0429399.
Is FIRST ALLIANCE CREDIT UNION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1944.
Are donations to FIRST ALLIANCE CREDIT UNION tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does FIRST ALLIANCE CREDIT UNION file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of FIRST ALLIANCE CREDIT UNION due?
The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
When did FIRST ALLIANCE CREDIT UNION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of FIRST ALLIANCE CREDIT UNION?
The 990 for the year ended December 31, 2024 names Brent Rempe.
Who are the officers and directors of FIRST ALLIANCE CREDIT UNION?
The 990 for the year ended December 31, 2024 lists 15 people; 15 received compensation from the organization, the highest $396,964 (Valerie Mathias, SVP of Finance - CFO).
How much revenue does FIRST ALLIANCE CREDIT UNION have?
On its 990 for the year ended December 31, 2024 it reported revenue of $21,320,406, expenses of $19,147,066 and total assets of $270,318,423 at year end.

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