First Community Credit Union
- Assets
- $1.8b
- Revenue
- $50.7m
- Investments
- $1.2m
- Employees
- 407
- Location
- Coquille, OR
- Founding
- 10/1944
- Data as of
- 12/2021
- 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 12/2021, First Community Credit Union employed 407 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 12/2021, First Community Credit Union generated $50.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $40.3m during the year ending 12/2021. While expenses have increased by 5.9% 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
2021
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 |
|---|---|---|---|
Renee Nelson Executive Vice President/cfo | Officer | 40 | $760,308 |
David Elmer President/ceo/treasurer | Officer | 40 | $710,385 |
Denise Hill Executive Vice President/coo | Officer | 40 | $542,692 |
Ted Rubin VP Of Investment Services | 40 | $280,547 | |
Wendy Osgood SVP Branch Administration | 40 | $216,166 | |
Erin Spencer SVP Communications & Engagement | 40 | $210,492 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Harmon Construction Building Services | 12/30/21 | $1,120,833 |
Jack Henry & Associates Inc Data Services | 12/30/21 | $540,736 |
Diebold Atm Support | 12/30/21 | $467,801 |
Appraisal Valet Inc Appraisal Services | 12/30/21 | $445,965 |
Connect Financial Software Solutions Data Services | 12/30/21 | $309,738 |
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 | $44,988,739 |
| Investment income | $4,030,261 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,750 |
| Net Gain/Loss on Asset Sales | $14,471 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $50,673,220 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $12,810 |
| 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. | $2,329,966 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $18,240,686 |
| Pension plan accruals and contributions | $412,341 |
| Other employee benefits | $2,046,239 |
| Payroll taxes | $2,749,886 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $21,568 |
| Fees for services: Accounting | $69,117 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $158,429 |
| Advertising and promotion | $501,100 |
| Office expenses | $6,812,787 |
| Information technology | $1,970,128 |
| Royalties | $0 |
| Occupancy | $1,824,050 |
| Travel | $76,648 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $151,771 |
| Interest | $605,454 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,869,795 |
| Insurance | $196,974 |
| All other expenses | $0 |
| Total functional expenses | $40,267,923 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,948,889 |
| Savings and temporary cash investments | $435,664,694 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $509,930 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $867,623,225 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,510,940 |
| Net Land, buildings, and equipment | $59,204,800 |
| Investments—publicly traded securities | $344,658,408 |
| Investments—other securities | $1,173,762 |
| Investments—program-related | $0 |
| Intangible assets | $15,451,848 |
| Other assets | $26,090,353 |
| Total assets | $1,761,836,849 |
| Accounts payable and accrued expenses | $5,638,726 |
| 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 | $1,603,111,128 |
| Total liabilities | $1,608,749,854 |
| 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 | $153,086,995 |
| Total liabilities and net assets/fund balances | $1,761,836,849 |
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| Organization Name | Assets | Revenue |
|---|---|---|
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