First Community Credit Union

Learn about this cause: Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 450226664 ✦ Jamestown, ND ✦ Designated as a 501(c)(14)

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Overview

What is First Community Credit Union?

First Community Credit Union is a state-chartered financial institution based in Jamestown, North Dakota. With a team of 327 dedicated employees, they offer cooperative credit services to their members. Their mission goes beyond just promoting thrift; they provide personalized financial solutions through a range of competitive products. By focusing on individualized assistance, the credit union empowers its employees to ensure members receive effective financial support.


Official website here: www.myfccu.com

Is First Community Credit Union legitimate?

First Community Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. First Community Credit Union submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.


Heare are some key statistics you may want to consider:

Executive Compensation: $718,544
Professional Fundraising Fees: $0
Other Salaries and Wages: $16,578,190

For more financial information, click here


Official website here: www.myfccu.com

What is the mission statement of First Community Credit Union?

First Community Credit Union is committed to promoting thrift and serving as a source of credit for its members. In line with this mission, the credit union provides individualized financial solutions to its members through competitive products. The organization is dedicated to empowering its well-trained employees to deliver these solutions effectively. By focusing on cooperative financial services, First Community Credit Union aims to furnish its members with the financial tools they need to manage their money and achieve their financial goals.


Official website here: www.myfccu.com

Who is the CEO of First Community Credit Union?

Steve Schmitz is the Ceo of First Community Credit Union. The CEO's salary of First Community Credit Union is $461,010 and their total compensation is $503,850.


Official website here: www.myfccu.com

What is the revenue of First Community Credit Union?

First Community Credit Union's revenue in 2022 was $51,869,328.


Official website here: www.myfccu.com

Who are the executives of First Community Credit Union and what are their salaries?

The average compensation at First Community Credit Union during 2022 was $52,895. There are 327 employees at First Community Credit Union.


Here are 14 key members and their salaries (First Community Credit Union's CEO's salary is $461,010 and their total compensation is $503,850):


Owen Olson (Chairman)
  • Compensation: $7,200
  • Related: $0
  • Other: $0
Colin Wegenast (Director)
  • Compensation: $7,200
  • Related: $0
  • Other: $0
Bonnie Nelson (Secretary)
  • Compensation: $7,200
  • Related: $0
  • Other: $0
Sharman Zachrison (Director)
  • Compensation: $7,200
  • Related: $0
  • Other: $0
Mark Watne (Director)
  • Compensation: $7,200
  • Related: $0
  • Other: $0
Sandra Franke (Director)
  • Compensation: $7,200
  • Related: $0
  • Other: $0
Douglas Kalianoff (Director)
  • Compensation: $5,400
  • Related: $0
  • Other: $0
Steve Schmitz (Ceo)
  • Compensation: $461,010
  • Related: $0
  • Other: $42,840
Sean Rinkenberger (Cfo)
  • Compensation: $207,135
  • Related: $0
  • Other: $49,207
Craig Grundstrom (Chief Development Officer)
  • Compensation: $227,160
  • Related: $0
  • Other: $49,835
Darin Finck (Chief Lending Officer)
  • Compensation: $243,113
  • Related: $0
  • Other: $41,713
Brian Olson (Senior Ag Loan Officer)
  • Compensation: $226,407
  • Related: $0
  • Other: $28,331
Steve Davis (Svp/Regional Senior Credit)
  • Compensation: $219,284
  • Related: $0
  • Other: $18,614
James Vollrath (Chief Technology Officer)
  • Compensation: $192,534
  • Related: $0
  • Other: $41,851


Official website here: www.myfccu.com

Where can I find the form 990 for First Community Credit Union?

First Community Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.


Official website here: www.myfccu.com

Learn more at the official website: www.myfccu.com

Mission Statement of First Community Credit Union

First Community Credit Union, a state-chartered financial institution, is dedicated to encouraging savings and serving as a reliable source of credit for its members. In its mission to provide personalized financial solutions, the Credit Union offers competitive products and empowers its employees to deliver excellent service. By furnishing cooperative financial services, First Community Credit Union aims to make a positive impact on the financial lives of its members.

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Impact




October, 2024

First Community Credit Union plays a vital role in fostering financial well-being in the Jamestown, ND community by promoting thrift and providing accessible credit to its members. By offering cooperative financial services, it empowers individuals with tools to achieve their financial goals. The credit union is dedicated to delivering personalized financial solutions through competitive products, ensuring that its members have the support they need.

With a focus on training and empowering its employees, First Community Credit Union creates an environment where members receive not just services but also guidance tailored to their specific needs. This commitment to individualized service enhances financial literacy and promotes responsible financial practices among the community. The organization’s impact resonates through improved member relationships, enhanced financial stability, and increased community engagement—all essential components of a thriving local economy.




This information is meant to be a general summary of First Community Credit Union. Please take the time to review official sources before making any decisions based upon the content provided here.


Financials

This financial information is from Propublica.

Revenue
$51,869,328 (2022)
Expenses
$41,423,974 (2022)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $5,932,621
  • Program Service Revenue: $45,952,660
  • Gross Receipts: $53,050,912

Assets and Liabilities:

  • Total Assets: $1,195,741,212
  • Total Liabilities: $1,070,946,411
  • Net Assets: $124,794,801

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Programs

Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

MEMBER INTEREST INCOME

Revenue

$34,148,678

SERVICE CHARGES & FEES

Revenue

$7,772,195

OTHER FEES

Revenue

$4,031,787

Organization Details

Founding Year

1939

Principal Officer

Steve Schmitz

Main Address

PO BOX 2180, JAMESTOWN, ND, 58401

NTEE Category

Code: W60 - Public benefit

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