FIRST ALLIANCE CREDIT UNION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1932

Legal Domicile

Principal Officer

BRENT REMPE

Phone

5072880330

Tax Period

2023-01-01 to 2023-12-31

FIRST ALLIANCE CREDIT UNION, founded in 1932, is a mid-sized nonprofit that reported $20.7M in total revenue in fiscal year 2023. Revenue surged 25% from the prior year, signaling strong growth momentum. Expenses of $18.1M left a modest 12% surplus.

Mission

WE PLACE OUR MEMBERS' NEEDS FIRST BY PROVIDING COMPASSION, GUIDANCE, AND RESOURCES TO PROMOTE THEIR FINANCIAL WELL-BEING. AS A FINANCIAL COOPERATIVE ALL INCOME IS USED TO PAY OPERATING EXPENSES OR RETURNED TO MEMBERS IN THE FORM OF DIVIDENDS OR SERVICES.

Program Service Accomplishments

Program 1

PAY INTEREST AND DIVIDENDS ON AMOUNTS DEPOSITED BY MEMBERS.

Program 2

PROVIDE CHECKING AND CASH HANDLING SERVICES TO MEMBERS.

Program 3

PROVIDE RESIDENTIAL MORTGAGE, HOME IMPROVEMENT, COMMERCIAL, AND OTHER MISC. LOANS TO MEMBERS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $19,578,655

Investment Income $1,074,031

Other Revenue $0

TOTAL REVENUE $20,652,686

Expense Breakdown

Grants Paid $0

Salaries & Benefits $6,389,485

Fundraising Expenses $0

Other Expenses $9,278,970

TOTAL EXPENSES $18,126,917

Year-over-Year Comparison

	2023	2022	Change
Revenue	$20,652,686	$16,521,407	+0.3%
Expenses	$18,126,917	$14,787,855	+0.2%
Net Income	$2,525,769	$1,733,552	+0.5%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,084,665

Total Directors

$23,837

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RAWHI SAID	DIRECTOR	1.40	Director	$2,332	$0	$2,332
RUSSELL HESS	SECRETARY/DIRECTOR	1.10	Officer Director	$2,713	$0	$2,713
ROBERTA OLSON	DIRECTOR	2.10	Director	$3,348	$0	$3,348
JANE DRENNAN	DIRECTOR	3.30	Director	$5,151	$0	$5,151
THERESA HORNBERG	CHAIR/DIRECTOR	4.50	Officer Director	$6,991	$0	$6,991
ALAN MICHAEL DEBOLT	VICE CHAIR/DIRECTOR	1.10	Officer Director	$1,686	$0	$1,686
JULIAN CURRIE	DIRECTOR	1.20	Director	$1,616	$0	$1,616
MIKE ROSEK	EMERITUS PRESIDENT/CEO	50.00	Officer	$408,493	$71,395	$479,888
MARK HETTINGER	EVP/COO	50.00	Officer	$66,964	$13,421	$80,385
DAVID SCHOUTEN	SVP/CIO	50.00	Officer	$72,474	$15,421	$87,895
BRENT REMPE	PRESIDENT/CEO	50.00	Officer	$129,264	$17,153	$146,417
VALERIE MATHIAS	SVP FINANCE/CFO	50.00	Officer	$207,730	$70,960	$278,690
CHRISTINE JENSEN	CONTROLLER	40.00	Highest	$108,075	$30,074	$138,149
JEREMIAH HALLORAN	DIRECTOR OF DIGITAL SERVICES	40.00	Highest	$113,034	$45,741	$158,775
LISETT COMAI-LEGRAND	DIRECTOR OF RETAIL & MBR EXPER	40.00	Highest	$128,665	$33,875	$162,540
ANDREA ALLEN	DIRECTOR OF LENDING	40.00	Highest	$118,569	$46,100	$164,669
NANCY HUBER	DIRECTOR OF HUMAN RESOURCES	40.00	Highest	$115,636	$19,446	$135,082

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$20,652,686	$18,126,917	$282,573,969	$2,525,769
2022	$16,521,407	$14,787,855	$288,094,542	$1,733,552
2021	$15,921,045	$14,272,865	$266,858,268	$1,648,180
2020	$15,004,634	$13,640,477	$236,689,714	$1,364,157
2019	$13,843,982	$12,981,803	$207,900,558	$862,179
2018	$12,004,687	$10,617,101	$193,018,357	$1,387,586