FIRST COMMUNITY CREDIT UNION (EIN 450226664) - Form 990 Financial Analysis & Trantor Score

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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

1939

Legal Domicile

Principal Officer

STEVE SCHMITZ

Phone

7012535119

Tax Period

2023-01-01 to 2023-12-31

FIRST COMMUNITY CREDIT UNION, founded in 1939, is a mid-sized nonprofit that reported $66.0M in total revenue in fiscal year 2023. Revenue surged 27% from the prior year, signaling strong growth momentum. The organization ran a surplus of $10.6M, a strong 16% operating margin.

Mission

STRENGTHEN COMMUNITY BY HELPING MEMBERS GROW & THRIVE

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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 $59,286,665

Investment Income $6,053,022

Other Revenue $643,600

TOTAL REVENUE $65,983,287

Expense Breakdown

Grants Paid $0

Salaries & Benefits $22,877,265

Fundraising Expenses $0

Other Expenses $32,517,218

TOTAL EXPENSES $55,394,483

Year-over-Year Comparison

	2023	2022	Change
Revenue	$65,983,287	$51,869,328	+0.3%
Expenses	$55,394,483	$41,423,974	+0.3%
Net Income	$10,588,804	$10,445,354	+0.0%

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

316

Volunteers

N/A

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

$822,963

Total Directors

$49,200

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
OWEN OLSON	CHAIRMAN	4.00	Officer Director	$7,200	$0	$7,200
COLIN WEGENAST	DIRECTOR	4.00	Director	$7,200	$0	$7,200
BONNIE NELSON	SECRETARY	4.00	Officer Director	$7,200	$0	$7,200
SHARMAN ZACHRISON	DIRECTOR	4.00	Director	$7,200	$0	$7,200
MARK WATNE	DIRECTOR	4.00	Director	$7,200	$0	$7,200
SANDRA FRANKE	DIRECTOR	4.00	Director	$2,400	$0	$2,400
DOUGLAS KALIANOFF	DIRECTOR	4.00	Director	$7,200	$0	$7,200
CHRIS AARHUS	DIRECTOR	4.00	Director	$3,600	$0	$3,600
STEVE SCHMITZ	CEO	45.00	Officer	$508,791	$43,298	$552,089
SEAN RINKENBERGER	CFO	45.00	Officer	$207,135	$49,339	$256,474
CRAIG GRUNDSTROM	CHIEF DEVELOPMENT OFFICER	45.00	Highest	$236,264	$54,410	$290,674
DARIN FINCK	CHIEF LENDING OFFICER	45.00	Highest	$253,034	$42,792	$295,826
STEVE DAVIS	SVP MORTGAGE LENDING	45.00	Highest	$227,162	$20,397	$247,559
JAMES VOLLRATH	CHIEF TECHNOLOGY OFFICER	45.00	Highest	$193,314	$45,517	$238,831
STEPHANIE FINCK	COO	45.00	Highest	$195,466	$41,208	$236,674

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	$65,983,287	$55,394,483	$1,316,792,423	$10,588,804
2022	$51,869,328	$41,423,974	$1,195,741,212	$10,445,354
2021	$50,434,728	$37,700,549	$1,060,866,226	$12,734,179
2020	$49,070,121	$39,663,852	$946,751,216	$9,406,269
2019	$47,098,566	$38,838,200	$851,824,528	$8,260,366
2018	$44,840,630	$37,460,145	$827,278,460	$7,380,485

FIRST COMMUNITY CREDIT UNION