Civic Intelligence

Community 1St Credit Union

EIN 42-0686459 • 501(c)14 • Ottumwa, IA

Profile

State chartered credit union

PO Box 737Ottumwa, IA 52501

www.c1stcu.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

63rd percentile

0.91x

Higher debt load relative to assets than 63% of similar nonprofits.

501(c)14 • $250M-$1B nonprofits • Source year 2022

Liabilities / Revenue

76th percentile

17.62x

Higher debt load relative to revenue than 76% of similar nonprofits.

501(c)14 • $250M-$1B nonprofits • Source year 2022

Net Margin

85th percentile

20%

Higher net margin than 85% of similar nonprofits.

501(c)14 • $250M-$1B nonprofits • Source year 2022

Top Officer Pay

51st percentile

$485,738

Higher top officer pay than 51% of similar nonprofits.

Top officer pay equals 1.0% of source-year revenue.

$250M-$1B nonprofits • Source year 2022

Asset Growth

4th percentile

-6.1%

Faster asset growth than 4% of similar nonprofits.

501(c)14 • $250M-$1B nonprofits • Annualized from 2021 to 2022

Revenue Growth

42nd percentile

13%

Faster revenue growth than 42% of similar nonprofits.

501(c)14 • $250M-$1B nonprofits • Annualized from 2021 to 2022

Assets

Up

$1,038,960,159

Up $67,269,782 (+6.9%) from 2023

Liabilities

Up

$932,666,634

Up $56,625,462 (+6.5%) from 2023

Net Assets

Up

$106,293,525

Up $10,644,320 (+11%) from 2023

Revenue

Up

$68,555,795

Up $8,938,070 (+15%) from 2023

Expenses

Up

$59,849,855

Up $11,531,959 (+24%) from 2023

Net Income

Down

$8,705,940

Down $2,593,889 (-23%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.5B$1.0B$500M$0Assets 2010: $326,066,464Liabilities 2010: $298,386,886Net Assets 2010: $27,679,5782010Assets 2011: $368,811,968Liabilities 2011: $338,094,100Net Assets 2011: $30,717,8682011Assets 2012: $411,642,227Liabilities 2012: $376,886,279Net Assets 2012: $34,755,9482012Assets 2013: $475,531,628Liabilities 2013: $435,291,471Net Assets 2013: $40,240,1572013Assets 2014: $519,360,739Liabilities 2014: $473,792,407Net Assets 2014: $45,568,3322014Assets 2015: $572,585,909Liabilities 2015: $523,078,607Net Assets 2015: $49,507,3022015Assets 2016: $579,920,017Liabilities 2016: $527,713,285Net Assets 2016: $52,206,7322016Assets 2017: $621,960,501Liabilities 2017: $566,146,172Net Assets 2017: $55,814,3292017Assets 2018: $649,890,355Liabilities 2018: $590,137,358Net Assets 2018: $59,752,9972018Assets 2019: $709,383,536Liabilities 2019: $645,428,146Net Assets 2019: $63,955,3902019Assets 2020: $845,601,434Liabilities 2020: $777,563,252Net Assets 2020: $68,038,1822020Assets 2021: $1,000,297,411Liabilities 2021: $923,078,404Net Assets 2021: $77,219,0072021Assets 2022: $938,861,640Liabilities 2022: $855,150,611Net Assets 2022: $83,711,0292022Assets 2023: $971,690,377Liabilities 2023: $876,041,172Net Assets 2023: $95,649,2052023Assets 2024: $1,038,960,159Liabilities 2024: $932,666,634Net Assets 2024: $106,293,5252024

Highlighted filing

2024

Assets$1,038,960,159
Liabilities$932,666,634
Net Assets$106,293,525

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$80M$60M$40M$20M$0Expenses 2010: $16,709,6772010Expenses 2011: $18,658,9772011Expenses 2012: $19,202,4042012Revenue 2013: $25,665,285Expenses 2013: $20,181,076Net Income 2013: $5,484,2092013Revenue 2014: $27,273,548Expenses 2014: $21,945,373Net Income 2014: $5,328,1752014Revenue 2015: $29,312,275Expenses 2015: $25,373,305Net Income 2015: $3,938,9702015Revenue 2016: $30,752,663Expenses 2016: $28,053,233Net Income 2016: $2,699,4302016Revenue 2017: $33,399,393Expenses 2017: $29,791,796Net Income 2017: $3,607,5972017Revenue 2018: $37,194,797Expenses 2018: $33,256,129Net Income 2018: $3,938,6682018Revenue 2019: $41,086,764Expenses 2019: $36,884,371Net Income 2019: $4,202,3932019Revenue 2020: $42,055,007Expenses 2020: $37,972,215Net Income 2020: $4,082,7922020Revenue 2021: $42,990,496Expenses 2021: $35,826,437Net Income 2021: $7,164,0592021Revenue 2022: $48,530,717Expenses 2022: $38,936,210Net Income 2022: $9,594,5072022Revenue 2023: $59,617,725Expenses 2023: $48,317,896Net Income 2023: $11,299,8292023Revenue 2024: $68,555,795Expenses 2024: $59,849,855Net Income 2024: $8,705,9402024

Highlighted filing

2024

Revenue$68,555,795
Expenses$59,849,855
Net Income$8,705,940

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1,039$933$106$68.6$59.8$8.71
2023Detailed filing. Detailed filing data is available for this year.$972$876$95.6$59.6$48.3$11.3
2022Detailed filing. Detailed filing data is available for this year.$939$855$83.7$48.5$38.9$9.59
2021Detailed filing. Detailed filing data is available for this year.$1,000$923$77.2$43.0$35.8$7.16
2020Detailed filing. Detailed filing data is available for this year.$846$778$68.0$42.1$38.0$4.08
2019Detailed filing. Detailed filing data is available for this year.$709$645$64.0$41.1$36.9$4.20
2018Detailed filing. Detailed filing data is available for this year.$650$590$59.8$37.2$33.3$3.94
2017Detailed filing. Detailed filing data is available for this year.$622$566$55.8$33.4$29.8$3.61
2016Detailed filing. Detailed filing data is available for this year.$580$528$52.2$30.8$28.1$2.70
2015Detailed filing. Detailed filing data is available for this year.$573$523$49.5$29.3$25.4$3.94
2014Detailed filing. Detailed filing data is available for this year.$519$474$45.6$27.3$21.9$5.33
2013Detailed filing. Detailed filing data is available for this year.$476$435$40.2$25.7$20.2$5.48
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$412$377$34.8$19.2
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$369$338$30.7$18.7
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$326$298$27.7$16.7
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Apr 18, 2025
Return Version
2024v5.0
Gross Receipts
$68,555,795
Mission and Program Overview

Mission

State chartered credit union

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$770,804,568$869,882,247▲ $99,077,679
Savings and Temporary Cash Investments$108,242,151$78,952,936▼ $29,289,215
Rtn Earn Endowment Incm Other Fnds$67,961,615$75,804,005▲ $7,842,390
Pd in Cap Srpls Land Bldg Eqp Fund$27,687,590$30,489,520▲ $2,801,930
Investments in Publicly Traded Securities$32,514,074$27,606,766▼ $4,907,308
Land, Buildings, and Equipment, Net$25,868,295$25,698,005▼ $170,290
Cash and Non-Interest-Bearing Accounts$11,282,543$10,235,447▼ $1,047,096
Prepaid Expenses and Deferred Charges$1,376,871$1,252,484▼ $124,387
Accounts Receivable$69,091$19,798▼ $49,293
Total Assets$971,690,377$1,038,960,159▲ $67,269,782
Other Assets Total$21,532,784$25,312,476▲ $3,779,692
Liabilities
Other Liabilities$862,779,893$922,768,087▲ $59,988,194
Accounts Payable and Accrued Expenses$9,761,279$9,898,547▲ $137,268
Mortgage Notes Payable Secured by Investment Property$3,500,000--
Total Liabilities$876,041,172$932,666,634▲ $56,625,462
Net Assets / Fund Balance
Total Net Assets Fund Balance$95,649,205$106,293,525▲ $10,644,320
Total Liabilities and Net Assets / Fund Balance$971,690,377$1,038,960,159▲ $67,269,782

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$19,383,916$12,404,234$31,788,150
Equipment$3,206,008$12,085,364$15,291,372
Land$3,108,081-$3,108,081
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Greg HanshawPresident/ceFT$626,393-$626,393
Greg HanshawPresident/CEO-$454,678$171,715$626,393
James M HolleCFOFT$252,359$71,895$324,254
John Mark FrankeCOOFT$231,876$65,924$297,800
Bobbi TerrellVP OperationFT$260,706-$260,706
Bobbi TerrellVP Operations-$196,728$63,978$260,706
Melissa BeastromVP StrategicFT$232,273-$232,273
Melissa BeastromVP Strategic Initiat-$180,439$51,834$232,273
James ThomasVP of RetailFT$173,800$24,348$198,148
Jeff LeuVP of ItFT$157,117$24,667$181,784
Rynee HendersonAssistant VPFT$180,947-$180,947
Rynee HendersonAssistant VP of Fin-$149,373$31,574$180,947
Tim MarcsisakComm/ag BusiFT$177,117-$177,117
Tim MarcsisakComm/ag Business Dev-$166,143$10,974$177,117
Julie MontgomeryVP Human ResFT$169,742-$169,742
Julie MontgomeryVP Human Resources-$148,232$21,510$169,742

Board Members and Trustees

NameTitle
Anne LeathersBoard Member
Bianca MyersBoard Member
Courtney JonesBoard Member
D David BoyerBoard Member
Jason EubanksBoard Member
John MayberryBoard Member
Nathan CarawayBoard Member
Sandra WirfsBoard Member
Tim ElliotBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$63,020,064
Investment Income
$5,535,731
Other Revenue
$0
Change in Net Assets
$8,705,940

Audited Revenue Reconciliation

Revenue per Audited Statements
$68,555,795
Total Revenue per Audited Statements
$68,555,795
Total Revenue per Form 990
$68,555,795
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$35,908,517
Salaries, Compensation, and Employee Benefits$23,941,338
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$16,410,509
Office Expenses---$3,975,770
Advertising---$3,214,820
Occupancy---$2,957,786
Other Employee Benefits---$2,807,959
Depreciation Depletion---$2,079,153
Current Officers, Directors, Trustees, and Key Employees---$1,741,426
Pension Plan Contributions---$1,632,000
Payroll Taxes---$1,349,444
All Other Expenses---$1,225,957
Other Expenses---$1,117,704
Conferences and Meetings---$611,418
Insurance---$264,886
Fees for Services Accounting---$153,431
Interest---$119,236
Fees for Services Legal---$67,186
Total Functional Expenses$0$0$0$59,849,855

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$59,849,855
Total Expenses per Audited Statements$59,849,855
Total Expenses per Form 990$59,849,855
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Deposits$890,667,087
Non-member Deposits$32,101,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

All depositors are considered members.

Form 990, Page 6, Part VI, Line 7A

The credit union members elect on an annual basis the members of the board of directors.

Form 990, Page 6, Part VI, Line 7B

Any proposed mergers must be approved by a majority of the membership.

Form 990, Page 6, Part VI, Line 11B

No review was or will be conducted.

Form 990, Page 6, Part VI, Line 12C

The security matrix on the data processing system prohibits employees and directors from initiating transactions on all accounts listed on their conflict of interest disclosure statement, which is updated annually.

Form 990, Page 6, Part VI, Line 15A

The process for determining compensation for the ceo includes a comparison of compensation for similarly qualified persons in comparable positions, review and approval by the board of directors and is documented in the board minutes. The last review was conducted in december 2024.

Form 990, Page 6, Part VI, Line 19

The monthly financial statements are posted in the lobby and are updated on a monthly basis. The governing documents and conflict of interest policy are made available upon request.

Filing and Contact Details

Filer

Filer Name
Community 1st Credit Union
EIN
42-0686459
Phone
6416845448
Address
PO BOX 737, OTTUMWA, IA 52501

Signing Officer

Name
James M Holle
Title
CFO
Phone
6416845448
Signed
2025-04-18

Organization Details

Principal Officer
Greg Hanshaw
Formed
1936
Legal Domicile
Ia
Voting Board Members
9
Independent Board Members
9
Employees
383
Volunteers
11

Preparer

Firm
Petersen & Associates
Address
506 E GOLD COAST RD STE 100, PAPILLION, NE 68046-4790
Preparer
Steven O Petersen
Phone
4023332800
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

N/A

Form 990, Part XI, Line 9

Net change in investment valuation reserve 476,489 equity merged in 1,461,891 total 1,938,380

Raw XML AppendixShowing 400 of 481 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt6VP OF IT
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IRS990/Form990PartVIISectionAGrp/TitleTxt9VP HUMAN RES
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0GREG HANSHAW
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1JAMES M HOLLE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2JOHN MARK FRANKE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm3BOBBI TERRELL
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm4MELISSA BEASTROM
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm5JAMES THOMAS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm6JEFF LEU
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm7RYNEE HENDERSON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm8TIM MARCSISAK
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm9JULIE MONTGOMERY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT/CEO
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2COO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt3VP OPERATIONS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt4VP STRATEGIC INITIAT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt5VP OF RETAIL
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt6VP OF IT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt7ASSISTANT VP OF FIN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt8COMM/AG BUSINESS DEV
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt9VP HUMAN RESOURCES
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt6181784
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt7180947
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IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0N/A
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL DEPOSITORS ARE CONSIDERED MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CREDIT UNION MEMBERS ELECT ON AN ANNUAL BASIS THE MEMBERS OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANY PROPOSED MERGERS MUST BE APPROVED BY A MAJORITY OF THE MEMBERSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE SECURITY MATRIX ON THE DATA PROCESSING SYSTEM PROHIBITS EMPLOYEES AND DIRECTORS FROM INITIATING TRANSACTIONS ON ALL ACCOUNTS LISTED ON THEIR CONFLICT OF INTEREST DISCLOSURE STATEMENT, WHICH IS UPDATED ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE PROCESS FOR DETERMINING COMPENSATION FOR THE CEO INCLUDES A COMPARISON OF COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN COMPARABLE POSITIONS, REVIEW AND APPROVAL BY THE BOARD OF DIRECTORS AND IS DOCUMENTED IN THE BOARD MINUTES. THE LAST REVIEW WAS CONDUCTED IN DECEMBER 2024.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE MONTHLY FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY AND ARE UPDATED ON A MONTHLY BASIS. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8NET CHANGE IN INVESTMENT VALUATION RESERVE 476,489 EQUITY MERGED IN 1,461,891 TOTAL 1,938,380
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D

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