Financial One Credit Union

Organization Overview

Financial One Credit Union is located in Columbia Heights, MN. The organization was established in 1944. 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 12/2021, Financial One Credit Union employed 39 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Financial One 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 12/2021, Financial One Credit Union generated $11.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.4% each year . All expenses for the organization totaled $7.9m during the year ending 12/2021. While expenses have increased by 7.2% per year over the past 7 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

IT IS A COOPERATIVE MEMBER-OWNED AND CONTROLLED ORGANIZATION DEDICATED TO IMPROVING THE ECONOMIC WELL-BEING OF ITS MEMBERS BY PROVIDING COMPREHENSIVE FINANCIAL SERVICES

Describe the Organization's Program Activity:

Part 3 - Line 4a

DIVIDENDS PAID ON DRAFT, SAVINGS AND TERM SHARE CERTIFICATE ACCOUNTS TO 10525 MEMBERS


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Board, Officers & Key Employees

Name (title)Compensation
Ross Bloomquist
President & CEO
$262,797
Lacey Mack
Clo
$132,040
Deb Connell
CFO
$115,232
Renato Piedade
Cio
$94,800
Todd Sanders
COO
$85,563
Donald Mosher
Secretary
$5,175

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$11,163,416
Investment income $106,880
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $11,270,296

Peer Organizations

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