First Choice Credit Union Inc

Organization Overview

First Choice Credit Union Inc is located in Coldwater, OH. As of 12/2016, First Choice Credit Union Inc employed 6 individuals. First Choice Credit Union Inc 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 12/2016, First Choice Credit Union Inc generated $505.9k in total revenue. This represents relatively stable growth, over the past 2 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $456.1k during the year ending 12/2016. While expenses have increased by 6.5% per year over the past 2 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

2016

Describe the Organization's Mission:

Part 3 - Line 1

FINANCIAL SERVICES TO QUALIFIED MEMBERS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

DIVIDENDS AND INTEREST PAID TO MEMBERS ON 2231 ACCOUNTS HELD BY 1915 MEMBERS


DIRECT LABOR AND EMPLOYEE BENEFIT COST INCURRED PROVIDING SAVINGS DEPOIST SERVICES. ORIGINATING NEW LOANS AND SERVICING THE LOAN PORTFOLIO FOR MEMBERS


DATA PROCESSING COSTS INCURRED RECORDING MEMBER ACCOUNT ACTIVITY AND PROVIDING ACCES TO MEMBERS TO THEIR ACCOUNTS VIA HOME BANKING, ATM NETWORKS AND IN PERSON AT THE CREDIT UNION.


OPERATIONAL EXPENSES


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Board, Officers & Key Employees

Name (title)Compensation
Lucy Gaerke
Board Member
$0
Andy Kremer
Board Member
$0
Ron Muhlenkamp
Vice President
$0
Erica Ranly
Secretary
$0
Tim Hart
President
$0
Nathan Kaup
Board Member
$0

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$387,541
Investment income $118,329
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 $505,870

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