Liberty First Credit Union

Organization Overview

Liberty First Credit Union is located in Lincoln, NE. The organization was established in 1971. 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, Liberty First Credit Union employed 131 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Liberty 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 12/2021, Liberty First Credit Union generated $27.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.6% each year. All expenses for the organization totaled $21.6m during the year ending 12/2021. While expenses have increased by 8.0% 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

FINANCIAL COOPERATIVE ENCOURAGING THRIFT.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE CREDIT UNION PROVIDES SEVERAL DEPOSIT ACCOUNT TYPES TO MEMBERS INCLUDING SAVINGS, CHECKING, CERTIFICATES AND OTHER. THE TOTAL NUMBER OF MEMBERS AT 12/31/2021 WAS 39,561.


THE CREDIT UNION PROVIDES A VARIETY OF LOANS TO MEMBERS INCLUDING REAL ESTATE, CREDIT CARD, VEHICLE AND OTHER. THE TOTAL NUMBER OF LOANS OUTSTANDING AT 12/31/2021 WAS 18,065.


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Board, Officers & Key Employees

Name (title)Compensation
Frank Wilber
President
$780,310
Lisa Krzycki
Originator
$383,668
Jason Bell
Originator
$370,763
Kevin Frenzel
SVP Sales, Serv
$352,494
Amy Davis
Originator
$320,397
Paul E Erickson
SVP It
$308,925

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$27,638,084
Investment income $72,074
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $13,885
Net Gain/Loss on Asset Sales -$2,914
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $27,721,129

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