1st Midamerica Credit Union
501(c)(14)
Strong reserves Growing revenue
1st Midamerica Credit Union is a 501(c)(14) organization based in Bethalto, Illinois, registered in 1955, with $66,844,817 in FY2024 revenue.
731 E Bethalto Dr, Bethalto, IL, 62010 EIN 37-0580723 Since 1955
Revenue (FY2024)
$66.8M
▲ 20.0% vs prior year
Expenses (FY2024)
$59.1M
Net assets
$112.2M
Employees
250
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
★★★★
Rated on 3 of 4 criteria — the rest aren't reported in this filing type.
Capped at A — the top grade requires the fuller disclosure of a complete Form 990.
How the rating works →—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for 1st Midamerica Credit Union— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
AFinancial health25% of the rating23 mo reserves · +12% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For 1st Midamerica Credit Union: 23 mo reserves · +12% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For 1st Midamerica Credit Union: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For 1st Midamerica Credit Union: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
The objectives of 1st midamerica credit union are to know and meet financial needs of our members, to maintain long term financial soundness, to be active in community affairs, and to be a preeminent service provider to our members. we are continually expanding our list of services to better meet the financial needs of our members.
What they do
We ended the year with total share balances of $813,214,826. 1st midamerica credit union ended 2024 serving 63,200 members.
1st midamerica credit union issued 7,222 certificates of deposit in 2024. the total origination amount of all cd's was $268,628,022.
Contact & location
Financial trends
Revenue grew from $27.3M (FY2013) to $66.8M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $888.2MNet assets $112.2M
Operating margin
11.6%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$1.0B
Total liabilities
$888.2M
Net assets
$112.2M
Salaries & benefits
$16.0M
27% of expenses
Board members
9
9 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $66,844,817▲20.0% | $59,092,699▲15.8% | $112,179,437▲9.8% | $1,000,354,535▲3.7% | 990 |
| 2023 | $55,685,904▲23.0% | $51,029,966▲35.1% | $102,166,714▲3.4% | $964,490,813▲3.4% | 990 |
| 2022 | $45,283,692▼0.8% | $37,779,980▲6.3% | $98,835,975▲2.6% | $933,135,816▲8.5% | 990 |
| 2021 | $45,661,014▲1.8% | $35,551,494▼15.1% | $96,298,290▲10.4% | $860,013,719▲4.1% | 990 |
| 2020 | $44,870,473▼3.4% | $41,869,554▼0.6% | $87,262,099▲3.7% | $825,806,409▲10.9% | 990 |
| 2019 | $46,451,605▲6.2% | $42,129,461▲4.5% | $84,172,934▲5.5% | $744,684,094▼0.9% | 990 |
| 2018 | $43,734,489▲9.3% | $40,325,603▲11.5% | $79,801,704▲3.6% | $751,703,026▲4.0% | 990 |
| 2017 | $40,010,646▲7.1% | $36,182,561▲8.1% | $76,993,082▲8.6% | $722,943,678▲7.6% | 990 |
| 2016 | $37,369,414▲10.6% | $33,476,266▲12.6% | $70,907,777▲6.1% | $671,944,440▲3.5% | 990 |
| 2015 | $33,778,342▲5.4% | $29,720,728▲13.3% | $66,849,669▲6.4% | $649,313,105▲10.8% | 990 |
| 2014 | $32,051,357▲17.5% | $26,229,668▲6.9% | $62,833,426▲15.9% | $585,921,567▲17.8% | 990 |
| 2013 | $27,284,845 | $24,534,673▼5.0% | $54,194,457▲5.3% | $497,459,028▲3.1% | 990 |
| 2012 | — | $25,828,876▲1.3% | $51,444,285▲6.4% | $482,298,618▲1.7% | 990 |
| 2011 | — | $25,496,663 | $48,358,247 | $474,460,745 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Alan Meyer — $1,028,397 (1.74% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Alan Meyer | President/ceo | 50 | $1,028,397 |
| James Cherry | Chief Information Officer | 50 | $468,897 |
| Robert Blacklock | Chief Financial Officer | 50 | $323,537 |
| Terri Herbstreit | Vice President of Accounting | 50 | $308,503 |
| Perry Withers | Chief Lending Officer | 50 | $266,533 |
| Amber Scott | Chief Experience Officer | 50 | $221,036 |
| Elysa Robin | Vp of Human Resources | 50 | $220,695 |
| Brenda Jackson | Vice President Branch Operations | 50 | $178,302 |
| Brett Pont | Vice President of Commercial Lending | 50 | $160,854 |
| Gary Hoggatt Jr | Vice President of Mortgage Services | 50 | $142,091 |
| Andrew Macias | Vice Chairman | 2 | — |
| Bill Meyer | Director | 2 | — |
| Chris Greer | Treasurer | 2 | — |
| Henry Vize | Secretary | 2 | — |
| Joshua Evans | Director | 2 | — |
| Lori Artis | Director | 2 | — |
| Rebecca Alexander | Director | 2 | — |
| Rosemary Gibson | Chairman | 10 | — |
| Timothy Kallal | Director | 2 | — |
Frequently asked questions
- Is 1st Midamerica Credit Union a legitimate nonprofit?
- Yes. 1st Midamerica Credit Union is a 501(c)(14) organization registered with the U.S. Internal Revenue Service under EIN 37-0580723, based in Bethalto, Illinois.
- What is 1st Midamerica Credit Union's EIN?
- 1st Midamerica Credit Union's Employer Identification Number (EIN) is 37-0580723.
- How much revenue does 1st Midamerica Credit Union report?
- 1st Midamerica Credit Union reported $66,844,817 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much does 1st Midamerica Credit Union's highest-paid employee make?
- The highest reported compensation on 1st Midamerica Credit Union's latest Form 990 is $1,028,397, paid to Alan Meyer (President/ceo).
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Data for 1st Midamerica Credit Union (EIN 37-0580723) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.