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Nonprofit · EIN 45-0226664

FIRST COMMUNITY CREDIT UNION

Tax-exempt · JAMESTOWN, ND 58401

Financials

$66M$55.4M2023$76.7M$68.3M2024
Revenue Expenses · by fiscal year end
Financials of FIRST COMMUNITY CREDIT UNION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$76,733,253$68,279,557$8,453,696$1,327,869,515$1,180,731,607$147,137,908
December 31, 2023990$65,983,287$55,394,483$10,588,804$1,316,792,423$1,178,863,517$137,928,906
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$0
Program service revenue
$66,328,936
Investment income
$9,725,216
Net rental income
$318,025
Net gain from sales of assets
$49,356
Other revenue
$679,101

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$816,408
Other salaries and wages
$17,430,914
Salaries, compensation and benefits (total)
$24,054,406
Professional fundraising fees
$0
Legal fees
$88,936
Accounting fees
$165,983
Occupancy
$1,950,165
Travel
$168,385
Depreciation
$2,105,698

Balance sheet and other

Total assets, start of year
$1,316,792,423
Total assets, end of year
$1,327,869,515
Total liabilities, end of year
$1,180,731,607
Net assets, end of year
$147,137,908
Land, buildings and equipment
$40,289,153
Gross unrelated business income
$32,652
Gross receipts
$76,737,494
Employees
332
Volunteers
0
Year formed
1939
State of legal domicile
ND

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
STEVE SCHMITZCEO
Officer
45$523,395$55,630
DARIN FINCKCHIEF LENDING OFFICER
Highest-paid employee
45$273,490$45,921
CRAIG GRUNDSTROMCHIEF DEVELOPMENT OFFICER
Highest-paid employee
45$278,164$36,514
SEAN RINKENBERGERCFO
Officer
45$242,612$54,558
STEVE DAVISSVP MORTGAGE LENDING
Highest-paid employee
45$243,381$24,646
JAMES VOLLRATHCHIEF TECHNOLOGY OFFICER
Highest-paid employee
45$211,205$49,922
STEPHANIE FINCKCOO
Highest-paid employee
45$214,845$43,468
OWEN OLSONCHAIRMAN
Trustee or director, Officer
4$7,200$0
COLIN WEGENASTDIRECTOR
Trustee or director
4$7,200$0
BONNIE NELSONSECRETARY
Trustee or director, Officer
4$7,200$0
SHARMAN ZACHRISONDIRECTOR
Trustee or director
4$7,200$0
MARK WATNEDIRECTOR
Trustee or director
4$7,200$0
DOUGLAS KALIANOFFDIRECTOR
Trustee or director
4$7,200$0
CHRIS AARHUSDIRECTOR
Trustee or director
4$7,200$0
990 for the year ended December 31, 2023: 15 people
NameTitleHours / weekCompensationOther / benefits
STEVE SCHMITZCEO
Officer
45$508,791$43,298
DARIN FINCKCHIEF LENDING OFFICER
Highest-paid employee
45$253,034$42,792
CRAIG GRUNDSTROMCHIEF DEVELOPMENT OFFICER
Highest-paid employee
45$236,264$54,410
SEAN RINKENBERGERCFO
Officer
45$207,135$49,339
STEVE DAVISSVP MORTGAGE LENDING
Highest-paid employee
45$227,162$20,397
JAMES VOLLRATHCHIEF TECHNOLOGY OFFICER
Highest-paid employee
45$193,314$45,517
STEPHANIE FINCKCOO
Highest-paid employee
45$195,466$41,208
OWEN OLSONCHAIRMAN
Trustee or director, Officer
4$7,200$0
COLIN WEGENASTDIRECTOR
Trustee or director
4$7,200$0
BONNIE NELSONSECRETARY
Trustee or director, Officer
4$7,200$0
SHARMAN ZACHRISONDIRECTOR
Trustee or director
4$7,200$0
MARK WATNEDIRECTOR
Trustee or director
4$7,200$0
DOUGLAS KALIANOFFDIRECTOR
Trustee or director
4$7,200$0
CHRIS AARHUSDIRECTOR
Trustee or director
4$3,600$0
SANDRA FRANKEDIRECTOR
Trustee or director
4$2,400$0

Address and contacts

Address (IRS master file)
310 10TH ST SE, JAMESTOWN, ND 58401-5555
Principal officer (990 for 2024)
STEVE SCHMITZ, PO BOX 2180, JAMESTOWN, ND 58401
Signed the 990
SEAN RINKENBERGER, CFO
Phone
(701) 253-5119
Return prepared by
BRADY MARTZ & ASSOCIATES PC

Mission

TO PROVIDE INDIVIDUALIZED FINANCIAL SOLUTIONS FOR OUR MEMBERS THROUGH COMPETITIVE PRODUCTS AND WELL-TRAINED AND EMPOWERED EMPLOYEES.

990 for the year ended December 31, 2024

Program accomplishments

  • FURNISHING COOPERATIVE FINANCIAL SERVICES TO MEMBERS AS A STATE-CHARTERED CREDIT UNION.
  • PROVIDING FINANCIAL PRODUCTS SUCH AS SAVINGS AND CHECKING ACCOUNTS, IRA ACCOUNTS, CERTIFICATES OF DEPOSIT, CONSUMER LOANS, HOME MORTGAGE LOANS, AND SMALL BUSINESS LOANS TO MEMBERS WITHIN OUR FIELD OF MEMBERSHIP.
  • PROVIDING LOANS TO MEMBERS FOR PROVIDENT PURPOSES, THEREBY HELPING TO STABILIZE THE CREDIT STRUCTURE OF THE UNITED STATES.

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, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
45-0226664
Tax-exempt status
501(c)(14): State-chartered credit union
Donations deductible
No
Exempt since
1971
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$1,327,869,515
Income (IRS master file)
$76,737,494

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$76,733,253$68,279,557$1,327,869,515IRS
990December 2023$65,983,287$55,394,483$1,316,792,423XML
990December 2022$51,869,328$41,423,974$1,195,741,212IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS
990December 2017–––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 45-0226664).

Questions about FIRST COMMUNITY CREDIT UNION

What is the EIN of FIRST COMMUNITY CREDIT UNION?
The employer identification number (EIN) of FIRST COMMUNITY CREDIT UNION is 45-0226664.
Is FIRST COMMUNITY CREDIT UNION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1971.
Are donations to FIRST COMMUNITY CREDIT UNION tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does FIRST COMMUNITY 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 COMMUNITY CREDIT UNION due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did FIRST COMMUNITY 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 COMMUNITY CREDIT UNION?
The 990 for the year ended December 31, 2024 names STEVE SCHMITZ.
Who are the officers and directors of FIRST COMMUNITY CREDIT UNION?
The 990 for the year ended December 31, 2024 lists 14 people; 14 received compensation from the organization, the highest $523,395 (STEVE SCHMITZ, CEO).
How much revenue does FIRST COMMUNITY CREDIT UNION have?
On its 990 for the year ended December 31, 2024 it reported revenue of $76,733,253, expenses of $68,279,557 and total assets of $1,327,869,515 at year end.

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