Financial Center First Credit Union

Organization Overview

Financial Center First Credit Union is located in Indianapolis, IN. The organization was established in 2017. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2020, Financial Center First Credit Union employed 393 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Financial Center First Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.

For the year ending 12/2020, Financial Center First Credit Union generated $33.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $30.7m during the year ending 12/2020. While expenses have increased by 3.6% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Since 2017, Financial Center First Credit Union has awarded 15 individual grants totaling $261,470. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2020

Describe the Organization's Mission:

Part 3 - Line 1

FINANCIAL CENTER FIRST CREDIT UNION'S MISSION IS TO IMPROVE THE FINANCIAL LIVES OF ITS MEMBERS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

FINANCIAL CENTER FIRST CREDIT UNION PROVIDES FINANCIAL SERVICES TO ITS 80,872 MEMBERS.


FINANCIAL CENTER FIRST CREDIT UNION PROVIDES FINANCIAL SERVICES TO ITS 80,872 MEMBERS.


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Board, Officers & Key Employees

Name (title)Compensation
James Kevin Ryan
CEO
$363,613
Cameron Minges
Executive Vice President
$213,319
Daniel Kavanaugh
Senior VP
$197,710
Michael Nelson
Chief Financial Officer
$193,769
Jennifer Rue
Chief Risk & Compl. Officer
$169,149
Edward Valasek
Chief Information Officer
$161,480

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Dei Incorporated
Contractor-builder
$249,157
Corelation
Data Processing
$587,227
Swbc
Collection Services
$629,919
Swbc
Collection Services
$629,919
Corelation
Data Processing
$587,227
Fiserv
Data Processing
$1,374,774
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$33,621,982
Investment income $0
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $51,347
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $33,673,329

Grants Awarded

Over the last fiscal year, Financial Center First Credit Union has awarded $200,770 in support to 8 organizations.

Grant RecipientAmount

BALL STATE UNIVERSITY FOUNDATION

Org PageRecipient Profile

Muncie, IN

PURPOSE: GENERAL OPERATING SUPPORT

$81,667

BALL STATE UNIVERSITY FOUNDATION

Org PageRecipient Profile

Muncie, IN

PURPOSE: GENERAL OPERATING SUPPORT

$81,667

MOZEL SANDERS FOUNDATION

Org PageRecipient Profile

Indianapolis, IN

PURPOSE: GENERAL OPERATING SUPPORT

$7,500

MOZEL SANDERS FOUNDATION

Org PageRecipient Profile

Indianapolis, IN

PURPOSE: GENERAL OPERATING SUPPORT

$7,500

GLEANERS FOOD BANK OF INDIANA INC

Org PageRecipient Profile

Indianapolis, IN

PURPOSE: GENERAL OPERATING SUPPORT

$5,609

MIDWEST FOOD BANK

Org PageRecipient Profile

Normal, IL

PURPOSE: GENERAL OPERATING SUPPORT

$5,609
View Grant Profile

Peer Organizations

Organization NameAssets
Ih Mississippi Valley Credit Union
Moline, IL
$95,764,953
Consumers Cooperative Credit Union
Gurnee, IL
$86,644,006
Forum Credit Union
Indianapolis, IN
$84,015,212
Department Of Financial Institution Division Of Credit Unions In Ind
Columbus, IN
$83,495,107
Commonwealth Credit Union
Frankfort, KY
$81,263,726
Scott Credit Union
Edwardsville, IL
$68,652,150
Interra Credit Union
Goshen, IN
$67,652,585
Credit Union 1
Rantoul, IL
$59,629,366
Park Community Credit Union Inc
Louisville, KY
$55,059,990
Beacon Credit Union
Wabash, IN
$54,449,737
Great Lakes Credit Union
Bannockburn, IL
$47,845,545
Deere Employees Credit Union
Moline, IL
$51,717,341

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