First Community Credit Union
- Assets
- $1.8b
- Revenue
- $57.5m
- Investments
- -$2.1m
- Employees
- 402
- Location
- Coquille, OR
- Founding
- 10/1944
- Data as of
- 12/2022
- EIN
- 93-0468003
Organization Overview
First Community Credit Union is located in Coquille, OR. 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 12/2022, First Community Credit Union employed 402 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. First Community 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, First Community Credit Union generated $57.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $40.0m during the year ending 12/2022. While expenses have increased by 5.1% per year over the past 8 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 2022, First Community Credit Union has awarded 14 individual grants totaling $188,069. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO BUILD LASTING FINANCIAL RELATIONSHIPS THROUGH PERSONALIZED BANKING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ALL ACTIVITIES OF A STATE CHARTERED CREDIT UNION, INCLUDING FUNDING AND SERVICING OF LOANS, DEPOSITS, ACH SERVICES, ATM ACCESS, ETC. SERVICES ARE PROVIDED MONDAY THROUGH FRIDAY, WITH THE EXCEPTION OF FEDERAL HOLIDAYS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shaun Hoback Board Member (chairperson) | OfficerTrustee | 12 | $25,000 |
Robin Mcalpin Board Member (vice-Chairperson) | OfficerTrustee | 10 | $18,000 |
Linda Furman Grile Board Member (secretary) | OfficerTrustee | 10 | $18,000 |
Brian Menefee Board Member (treasurer) | OfficerTrustee | 10 | $18,000 |
Steve Mohrland Board Member (former Chair) | OfficerTrustee | 10 | $18,000 |
Dan Gibson Board Member | Trustee | 10 | $18,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Harmon Construction Building Services | 12/30/22 | $7,025,367 |
Diebold Atm Support | 12/30/22 | $823,254 |
Jack Henry & Associates Inc Data Services | 12/30/22 | $403,399 |
Kilmer Voorhees & Laurick Pc Legal Services | 12/30/22 | $387,382 |
Appraisal Valet Inc Appraisal Services | 12/30/22 | $231,275 |
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 | $45,818,754 |
| Investment income | $9,802,449 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $280,462 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $57,546,079 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $347,886 |
| Grants and other assistance to domestic individuals. | $63,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,418,239 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $17,945,703 |
| Pension plan accruals and contributions | $484,365 |
| Other employee benefits | $1,819,904 |
| Payroll taxes | $2,882,526 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $22,982 |
| Fees for services: Accounting | $67,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $103,898 |
| Advertising and promotion | $219,073 |
| Office expenses | $6,320,060 |
| Information technology | $1,845,413 |
| Royalties | $0 |
| Occupancy | $2,085,316 |
| Travel | $96,387 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $213,101 |
| Interest | $568,206 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,057,138 |
| Insurance | $250,349 |
| All other expenses | $0 |
| Total functional expenses | $40,033,603 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,995,670 |
| Savings and temporary cash investments | $252,967,434 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,449,907 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $963,051,286 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,516,934 |
| Net Land, buildings, and equipment | $66,710,254 |
| Investments—publicly traded securities | $458,388,052 |
| Investments—other securities | -$2,104,763 |
| Investments—program-related | $0 |
| Intangible assets | $15,333,948 |
| Other assets | $27,110,344 |
| Total assets | $1,796,419,066 |
| Accounts payable and accrued expenses | $5,397,234 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,624,004,887 |
| Total liabilities | $1,629,402,121 |
| 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 | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $167,016,945 |
| Total liabilities and net assets/fund balances | $1,796,419,066 |
Grants Awarded
Over the last fiscal year, First Community Credit Union has awarded $188,069 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
COOS COUNTY FAIR & RODEO PURPOSE: COMMUNITY SUPPORT | $6,500 |
COOS YOUTH AUCTION COMMITTEE PURPOSE: COMMUNITY SUPPORT | $12,786 |
LUTHERAN COMMUNITY SERVICES NORTHWEST PURPOSE: COMMUNITY SUPPORT | $20,000 |
CITY OF FAIRVIEW PURPOSE: COMMUNITY SUPPORT | $10,000 |
ROSEBURG ROTARY FOUNDATION PURPOSE: COMMUNITY SUPPORT | $15,139 |
UMATILLA COUNTY FAIR PURPOSE: COMMUNITY SUPPORT | $19,995 |