Community 1st Credit Union
- Assets
- $938.9m
- Revenue
- $48.5m
- Investments
- $0.0
- Employees
- 360
- Location
- Ottumwa, IA
- Founding
- Data as of
- 12/2022
- EIN
- 42-0686459
Organization Overview
Community 1st Credit Union is located in Ottumwa, IA. As of 12/2022, Community 1st Credit Union employed 360 individuals. Community 1st 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 12/2022, Community 1st Credit Union generated $48.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled $38.9m during the year ending 12/2022. While expenses have increased by 4.8% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
STATE CHARTERED CREDIT UNION
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James M Holle CFO | Officer | 40 | $485,738 |
Greg Hanshaw President/ce | Officer | 40 | $435,047 |
John Mark Franke COO | Officer | 40 | $243,949 |
Bobbie Terrell VP Operation | 40 | $174,613 | |
James Thomas VP Of Retail | 40 | $171,513 | |
Brian Dostal VP Commercia | 40 | $169,866 |
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 | $44,698,738 |
| Investment income | $3,831,979 |
| 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 | $48,530,717 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,332,284 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $13,104,956 |
| Pension plan accruals and contributions | $1,028,080 |
| Other employee benefits | $2,052,194 |
| Payroll taxes | $1,138,330 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $17,398 |
| Fees for services: Accounting | $155,710 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,369,677 |
| Office expenses | $2,813,127 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,408,087 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $481,332 |
| Interest | $165,621 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,964,807 |
| Insurance | $207,370 |
| All other expenses | $1,296,239 |
| Total functional expenses | $38,936,210 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,438,874 |
| Savings and temporary cash investments | $144,958,517 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $51,622 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $697,663,457 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,002,392 |
| Net Land, buildings, and equipment | $25,728,037 |
| Investments—publicly traded securities | $38,153,239 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $20,865,502 |
| Total assets | $938,861,640 |
| Accounts payable and accrued expenses | $9,454,708 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $5,500,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $840,195,903 |
| Total liabilities | $855,150,611 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $23,267,394 |
| Retained earnings, endowment, accumulated income, or other funds | $60,443,635 |
| Total liabilities and net assets/fund balances | $938,861,640 |