Liberty First Credit Union
Nonprofit profile at a glance
- EIN
- 470116167
- IRS 990 coverage
- 2010–2025
- Forms available
- Form 990 2025
- Location
- Lincoln, NE, USA
- Phone
- 4024651065
- Rating
- 43
- Verdict
- MIXED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $41,757,149
- Expenses
- $33,217,394
- Assets
- $514,942,990
- Liabilities
- $440,624,444
Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
18 people listed
Executive titles in this filing
- Frank Wilber (CEO)
Highest reported compensation
- Frank Wilber (CEO): $1,288,345 total reported compensation
- Eric Erickson (CIO): $365,135 total reported compensation
- Dillon Ehmen (SVP of Operations): $314,593 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Providing service for lifetime financial solutions
What it reported doing in 2025
The Credit Union provides several deposit account types to the membership including savings checking certificates of deposit and others. The total number of members as of 12 31 2025 was 35,222 and total number of member accounts was 65,196.
Operating model
- Revenue model
- Other-operating. 91% of the money available for current operations came from other operating revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
MIXED - Most voting board members are independent and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 0
- Transparency & Controls: 60
- Accountability: 95
- Sustainability: 66
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 0%; rating input score 0
- Program expense ratio: 0%; rating input score 0
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
- Governance controls: 8 of 9 controls in place; rating input score 89
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 20.5%; rating input score 76; 76th percentile among comparable filings
- Total-asset coverage ratio: 15.5; rating input score 90; 90th percentile among comparable filings
- Liabilities to assets ratio: 0.86; rating input score 10; 10th percentile among comparable filings
- Officer compensation ratio: 10.9%; rating input score 21; 21st percentile among comparable filings
Growth
- Program expense growth: -26.4% per year; rating input score 0; 2nd percentile among comparable filings
- Revenue growth: 9.4% per year; rating input score 100; 70th percentile among comparable filings
- Asset growth: 9.4% per year; rating input score 100; 64th percentile among comparable filings
Details
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 7 of 7 board members independent · 8 of 9 filing controls reported
- Programs: 3 filed program accomplishments
- Leadership: top reported pay $1.3M · 18 people listed · 0 of 6 pay-setting controls reported
- Consistency: 25 of 41 current checks pass · 16 findings to review
- Schedules: 3 filed schedules · includes executive pay
- Filing history: 15 filing years from 2010 to 2025
- Contacts: How to reach this organization
- Money network: 11 filed money-flow records
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- High — Growth: Program expense growth scored 0/100.
- Review — Accountability: Governance controls: Form 990 shared with the board not reported.
- High — Sustainability: Liabilities to assets ratio scored 10/100.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX Advertising column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX CompCurrentOfficersDirectors column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX DepreciationDepletion column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX FeesForServicesLegal column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX InformationTechnology column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX Insurance column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX Interest column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX Occupancy column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX OfficeExpenses column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX OtherEmployeeBenefits column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX OtherSalariesAndWages column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX PaymentsToAffiliates column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX PayrollTaxes column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX PensionPlanContributions column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX Travel column sum did not reconcile in the filed values.
- High — Sustainability: Officer compensation ratio scored 21/100.