ALABAMA CREDIT UNION: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- ALABAMA CREDIT UNION (EIN 63-0440014)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-11-14
- IRS object ID
- 202413199349308791
- Schema version
- 2023v5.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-11-14T13:02:59-06:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 461498870 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BMSS LLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1121 RIVERCHASE OFFICE RD | AddressLine1Txt |
| City | BIRMINGHAM | CityNm |
| State Abbreviation | AL | StateAbbreviationCd |
| ZIP | 35244 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 630440014 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ALABAMA CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | ALAB | BusinessNameControlTxt |
| Phone | 2054695944 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 862998 | AddressLine1Txt |
| City | TUSCALOOSA | CityNm |
| State Abbreviation | AL | StateAbbreviationCd |
| ZIP | 35486 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | STEPHEN K SWOFFORD | PersonNm |
| Person Title | PRESIDENT | PersonTitleTxt |
| Phone | 2053485944 | PhoneNum |
| Signature | 2024-11-13 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | CHERION SIBLEY CPA | PreparerPersonNm |
| PTIN | P00090514 | PTIN |
| Phone | 2059825500 | PhoneNum |
| Preparation | 2024-11-13 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-10-15 13:58:12Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | STEPHEN K SWOFFORD | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 862998 | AddressLine1Txt |
| City | TUSCALOOSA | CityNm |
| State Abbreviation | AL | StateAbbreviationCd |
| ZIP | 35486 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $106,267,552 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.ALABAMACU.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1956 | FormationYr |
| Legal Domicile State | AL | LegalDomicileStateCd |
| Activity Or Mission | TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS | ActivityOrMissionDesc |
| Voting Members Governing Body | 11 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 11 | VotingMembersIndependentCnt |
| Total Employee | 477 | TotalEmployeeCnt |
| Total Volunteers | 14 | TotalVolunteersCnt |
| Total Gross UBI | $420,671 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $47,815,360 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $74,325,249 | CYProgramServiceRevenueAmt |
| PY Investment Income | $5,461,425 | PYInvestmentIncomeAmt |
| CY Investment Income | $7,434,355 | CYInvestmentIncomeAmt |
| PY Other Revenue | $23,017,881 | PYOtherRevenueAmt |
| CY Other Revenue | $24,503,973 | CYOtherRevenueAmt |
| PY Total Revenue | $76,294,666 | PYTotalRevenueAmt |
| CY Total Revenue | $106,263,577 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $21,000 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $22,616,386 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $26,073,514 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $40,407,946 | PYOtherExpensesAmt |
| CY Other Expenses | $75,286,843 | CYOtherExpensesAmt |
| PY Total Expenses | $63,024,332 | PYTotalExpensesAmt |
| CY Total Expenses | $101,381,357 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $13,270,334 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $4,882,220 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,640,689,087 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,922,294,287 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $1,540,705,228 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $1,811,575,411 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $99,983,859 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $110,718,876 | NetAssetsOrFundBalancesEOYAmt |
| Mission | TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | 156,062 MEMBERS SERVED TO PROMOTE THRIFT OPPORTUNITIES AND LOW COST LOANS | Desc |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (1) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | Yes (1) | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | Yes (1) | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | 0 | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 25505 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 477 | EmployeeCnt |
| Employment Tax Returns Filed | 0 | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 11 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 11 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | Yes (1) | LocalChaptersInd |
| Policies Reference Chapters | Yes (1) | PoliciesReferenceChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | ELEANOR M BROWN | PersonNm |
| Phone | 2054695944 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 909 ANNA AVENUE | AddressLine1Txt |
| City | TUSCALOOSA | CityNm |
| State Abbreviation | AL | StateAbbreviationCd |
| ZIP | 35401 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (26 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| REBA ESSARY | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| CASEY TAYLOR | |||||||
| SECRETARY/TREASURER | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| CHARLOTTE HARRIS | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| LYNNE APRIL | |||||||
| BOARD VICE CHAIRPERSON | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| MARK NELSON | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| MARCUS JONES | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| THOMAS WEST | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| ROBERT RILEY | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| RON DULEK | |||||||
| BOARD CHAIRPERSON | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| LISA EVANS | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| TONY JOHNSON | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| MICHAEL GOODMAN | |||||||
| CIO | 45.00 | $333,467 | $0 | $35,154 | Yes (X) | ||
| JUNE LANDRUM | |||||||
| INTERIM CEO/ PRESIDENT | 45.00 | $323,346 | $0 | $27,627 | Yes (X) | ||
| JIM PENNINGTON | |||||||
| VP, COLLECTIONS | 45.00 | $225,438 | $0 | $25,544 | Yes (X) | ||
| STEPHEN K SWOFFORD | |||||||
| CEO | 60.00 | $589,817 | $0 | $54,234 | Yes (X) | ||
| ELEANOR BROWN | |||||||
| CFO | 45.00 | $303,289 | $0 | $28,080 | Yes (X) | ||
| MICHAEL R SHULTS | |||||||
| VP OF INFORMATION SYSTEMS | 45.00 | $280,905 | $0 | $27,349 | Yes (X) | ||
| BENSON P BOLLING | |||||||
| CHIEF LENDING OFFICER | 55.00 | $317,407 | $0 | $26,234 | Yes (X) | ||
| BRANDI MCKINNEY | |||||||
| VP-HUMAN RESOURCES & COMPLIANCE | 55.00 | $205,002 | $0 | $21,497 | Yes (X) | ||
| TOMMY COBB | |||||||
| CHIEF DEVELOPMENT OFFICER | 45.00 | $474,748 | $0 | $26,716 | Yes (X) | ||
| KELLEY PORTER | |||||||
| VP MEMBER EXPERIENCE | 45.00 | $193,549 | $0 | $18,070 | Yes (X) | ||
| JOSEPH HARDY | |||||||
| MANAGER OF OUTSIDE SALES | 45.00 | $210,569 | $0 | $25,271 | Yes (X) | ||
| ELIZABETH COLE | |||||||
| AVP, AREA BRANCH OPERATIONS | 45.00 | $226,453 | $0 | $23,198 | Yes (X) | ||
| JENNIFER BROWNING | |||||||
| ACUIS PROGRAM MANAGER | 45.00 | $185,449 | $0 | $24,156 | Yes (X) | ||
| AJAYKUMAR GUPTA | |||||||
| AVP OF NETWORK ADMINISTRATION | 45.00 | $166,445 | $0 | $21,775 | Yes (X) | ||
| JOHN EDINGTON | |||||||
| COMMERCIAL LENDING MANAGER | 45.00 | $145,440 | $0 | $22,459 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $4,181,324 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $407,364 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 23 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| APITURE LLC | |||||
| 1805 TIBURON DRIVE | WILMINGTON | NC | 28403 | DIGITAL BANKING SERVICES | $1,679,135 |
| WINDSTREAM SERVICES LLC | |||||
| PO BOX 9001013 | LOUISVILLE | KY | 402901013 | TELECOMMUNICATIONS | $1,120,435 |
| INNERSPAICE ARCHITECTURAL INTERIORS | |||||
| PO BOX 1911 | BIRMINGHAM | AL | 35201 | OFFICE FURNITURE AND SUPPLIES | $834,824 |
| FISERV | |||||
| PO BOX 745148 | ATLANTA | GA | 30374 | PAYMENT AND FINTECH PROVIDER | $786,585 |
| M2 THE AGENCY INC | |||||
| 18001 HWY 105 WEST | MONTGOMERY | AL | 77356 | MARKETING ADVERTISING SERVICE | $754,442 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 38 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | LOAN INTEREST INCOME | Desc |
| Business | 522130 | BusinessCd |
| Total Revenue Column | $74,325,249 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $74,325,249 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $74,325,249 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $7,430,830 | TotalRevenueColumnAmt |
| Exclusion | $7,430,830 | ExclusionAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $687,446 | TotalRevenueColumnAmt |
| Exclusion | $687,446 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $7,500 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $3,975 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $3,525 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $3,525 | TotalRevenueColumnAmt |
| Exclusion | $3,525 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| INTERCHANGE ACCOUNT CHARGES | 522130 | $8,460,055 | $8,460,055 |
| NSF ACCOUNT CHARGES | 522130 | $7,514,053 | $7,514,053 |
| OTHER ACCOUNT AND LOAN FEES | 522130 | $5,063,129 | $5,063,129 |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,779,290 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $2,358,619 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $420,671 | UnrelatedBusinessRevenueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $23,816,527 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $106,263,577 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $97,721,105 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $420,671 | UnrelatedBusinessRevenueAmt |
| Exclusion | $8,121,801 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $21,000 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,537,471 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $15,481,077 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,784,622 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,711,559 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,558,785 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $339,737 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $160,800 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,103,609 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,001,558 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,434,105 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,849,770 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,604,633 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $378,186 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $333,634 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $35,594,249 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,494,118 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $89,658 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| CHECK & LOAN SERVICING | $11,965,218 |
| PROVISION FOR LOAN LOSS | $5,971,110 |
| OTHER OPERATING EXPENSE | $1,005,438 |
| CASH OVER (SHORT) | $400,704 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $560,316 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $101,381,357 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $26,335,695 | BOYAmt |
| EOY | $28,202,056 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $39,870,132 | BOYAmt |
| EOY | $98,212,972 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $232,430 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $18,171,902 | BOYAmt |
| EOY | $20,306,787 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,244,649,317 | BOYAmt |
| EOY | $1,465,593,503 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,570,385 | BOYAmt |
| EOY | $12,661,462 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $81,464,359 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $25,928,627 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $47,008,044 | BOYAmt |
| EOY | $55,535,732 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,010,705 | BOYAmt |
| EOY | $8,529,384 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $212,038,462 | BOYAmt |
| EOY | $195,057,280 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $602,435 | BOYAmt |
| EOY | $3,047,788 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,549,723 | BOYAmt |
| EOY | $2,549,723 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $28,882,287 | BOYAmt |
| EOY | $32,365,170 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,640,689,087 | BOYAmt |
| EOY | $1,922,294,287 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,649,654 | BOYAmt |
| EOY | $15,417,751 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $133,900,000 | BOYAmt |
| EOY | $245,000,000 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $48,500,000 | BOYAmt |
| EOY | $48,500,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,346,655,574 | BOYAmt |
| EOY | $1,502,657,660 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,540,705,228 | BOYAmt |
| EOY | $1,811,575,411 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $99,983,859 | BOYAmt |
| EOY | $110,718,876 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $99,983,859 | BOYAmt |
| EOY | $110,718,876 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,640,689,087 | BOYAmt |
| EOY | $1,922,294,287 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $4,882,220 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $6,296,520 | NetUnrlzdGainsLossesInvstAmt |
| Prior Period Adjustments | $1,068,802 | PriorPeriodAdjustmentsAmt |
| Other Changes In Net Assets | -$1,512,525 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | 0 | FSAuditedInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $14,348,575 | OtherCostOrOtherBasisAmt |
| Book Value | $14,348,575 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $47,855,790 | OtherCostOrOtherBasisAmt |
| Depreciation | $9,966,193 | DepreciationAmt |
| Book Value | $37,889,597 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $19,259,994 | OtherCostOrOtherBasisAmt |
| Depreciation | $15,962,434 | DepreciationAmt |
| Book Value | $3,297,560 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $55,535,732 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | GOVERNMENT MORTGAGE SECURITIES | Desc |
| Book Value | $195,057,280 | BookValueAmt |
| Method Valuation | F | MethodValuationCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $195,057,280 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| MEMBER DEPOSITS | $1,410,455,945 |
| NON MEMBER DEPOSITS | $92,201,715 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $1,502,657,660 | TotalLiabilityAmt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|
| CHRIS HAMMOND YOUTH FOUNDATION | ||||||||
| PO BOX 611 | WEDOWEE | AL | 36278 | 470884527 | 501(C)(3) | $6,000 | $0 | CHARITY GOLF TOURNAMENT SPONSORSHIP |
| RESCUE MISSION OF MIDDLE GEORGIA | ||||||||
| 6601 ZEBULON ROAD | MACON | GA | 31220 | 586011446 | 501(C)(3) | $15,000 | $0 | CHARITY GOLF TOURNAMENT SPONSORSHIP |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (15 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| STEPHEN K SWOFFORD | ||||||||||||||
| CEO | $516,147 | $0 | $47,013 | $0 | $26,657 | $0 | $44,311 | $0 | $9,923 | $0 | $644,051 | $0 | $0 | $0 |
| TOMMY COBB | ||||||||||||||
| CHIEF DEVELOPMENT OFFICER | $188,400 | $0 | $88,257 | $0 | $198,091 | $0 | $19,295 | $0 | $7,421 | $0 | $501,464 | $0 | $0 | $0 |
| MICHAEL GOODMAN | ||||||||||||||
| CIO | $239,151 | $0 | $37,411 | $0 | $56,905 | $0 | $26,623 | $0 | $8,531 | $0 | $368,621 | $0 | $0 | $0 |
| JUNE LANDRUM | ||||||||||||||
| INTERIM CEO/ PRESIDENT | $198,221 | $0 | $40,456 | $0 | $84,669 | $0 | $22,986 | $0 | $4,641 | $0 | $350,973 | $0 | $0 | $0 |
| BENSON P BOLLING | ||||||||||||||
| CHIEF LENDING OFFICER | $197,171 | $0 | $45,509 | $0 | $74,727 | $0 | $22,128 | $0 | $4,106 | $0 | $343,641 | $0 | $0 | $0 |
| ELEANOR BROWN | ||||||||||||||
| CFO | $187,672 | $0 | $46,491 | $0 | $69,126 | $0 | $19,173 | $0 | $8,907 | $0 | $331,369 | $0 | $0 | $0 |
| MICHAEL R SHULTS | ||||||||||||||
| VP OF INFORMATION SYSTEMS | $169,688 | $0 | $40,974 | $0 | $70,243 | $0 | $19,792 | $0 | $7,557 | $0 | $308,254 | $0 | $0 | $0 |
| JIM PENNINGTON | ||||||||||||||
| VP, COLLECTIONS | $156,173 | $0 | $28,326 | $0 | $40,939 | $0 | $17,546 | $0 | $7,998 | $0 | $250,982 | $0 | $0 | $0 |
| ELIZABETH COLE | ||||||||||||||
| AVP, AREA BRANCH OPERATIONS | $128,865 | $0 | $33,464 | $0 | $64,124 | $0 | $15,058 | $0 | $8,140 | $0 | $249,651 | $0 | $0 | $0 |
| JOSEPH HARDY | ||||||||||||||
| MANAGER OF OUTSIDE SALES | $109,743 | $0 | $89,033 | $0 | $11,793 | $0 | $21,880 | $0 | $3,391 | $0 | $235,840 | $0 | $0 | $0 |
| BRANDI MCKINNEY | ||||||||||||||
| VP-HUMAN RESOURCES & COMPLIANCE | $152,741 | $0 | $23,915 | $0 | $28,346 | $0 | $16,976 | $0 | $4,521 | $0 | $226,499 | $0 | $0 | $0 |
| KELLEY PORTER | ||||||||||||||
| VP MEMBER EXPERIENCE | $141,388 | $0 | $24,004 | $0 | $28,157 | $0 | $15,439 | $0 | $2,631 | $0 | $211,619 | $0 | $0 | $0 |
| JENNIFER BROWNING | ||||||||||||||
| ACUIS PROGRAM MANAGER | $52,269 | $0 | $126,243 | $0 | $6,937 | $0 | $17,387 | $0 | $6,769 | $0 | $209,605 | $0 | $0 | $0 |
| AJAYKUMAR GUPTA | ||||||||||||||
| AVP OF NETWORK ADMINISTRATION | $144,954 | $0 | $12,862 | $0 | $8,629 | $0 | $17,522 | $0 | $4,253 | $0 | $188,220 | $0 | $0 | $0 |
| JOHN EDINGTON | ||||||||||||||
| COMMERCIAL LENDING MANAGER | $138,993 | $0 | $3,226 | $0 | $3,221 | $0 | $15,187 | $0 | $7,272 | $0 | $167,899 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 4B | FormAndLineReferenceDesc |
| Explanation | THE FOLLOWING OFFICERS PARTICIPATED IN THE NONQUALIFIED RETIREMENT PLAN: STEPHEN SWOFFORD ELEANOR BROWN BENSON BOLLING THOMAS COBB MICHAEL GOODMAN MICHAEL SHULTS JIM PENNINGTON JUNE LANDRUM ELIZABETH COLE BRANDI MCKINNEY KELLEY PORTER | ExplanationTxt |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (11 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd |
|---|---|---|---|---|---|---|---|
| BENSON BOLLING | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | Yes (X) | $1,400,000 | $1,400,000 | 0 | Yes (1) | Yes (1) |
| ELEANOR BROWN | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | Yes (X) | $1,600,000 | $1,600,000 | 0 | Yes (1) | Yes (1) |
| JIM PENNINGTON | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | Yes (X) | $800,001 | $800,001 | 0 | Yes (1) | Yes (1) |
| KAY BELL | |||||||
| FORMER OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | Yes (X) | $1,760,000 | $1,760,000 | 0 | Yes (1) | Yes (1) |
| MICHAEL GOODMAN | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | Yes (X) | $900,001 | $900,001 | 0 | Yes (1) | Yes (1) |
| MICHAEL SHULTS | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | Yes (X) | $1,221,670 | $1,221,670 | 0 | Yes (1) | Yes (1) |
| STEPHEN SWOFFORD | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | Yes (X) | $5,835,115 | $5,835,115 | 0 | Yes (1) | Yes (1) |
| THOMAS COBB | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | Yes (X) | $4,260,000 | $4,260,000 | 0 | Yes (1) | Yes (1) |
| KELLEY PORTER | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | Yes (X) | $680,000 | $680,000 | 0 | Yes (1) | Yes (1) |
| BRANDI MCKINNEY | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | Yes (X) | $600,000 | $600,000 | 0 | Yes (1) | Yes (1) |
| JUNE LANDRUM | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | Yes (X) | $1,250,000 | $1,250,000 | 0 | Yes (1) | Yes (1) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $20,306,787 | TotalBalanceDueAmt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (11 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | ALABAMA CREDIT UNION IS A NON-PROFIT FINANCIAL INSTITUTION THAT IS OWNED AND OPERATED BY ITS MEMBERS. THERE ARE SEVERAL WAYS IN WHICH AN INDIVIDUAL MAY BECOME A MEMBER OF THE CREDIT UNION. AN INDIVIDUAL CAN BE CONSIDERED FOR MEMBERSHIP IF THEY ARE AFFILIATED WITH THE UNIVERSITY OF ALABAMA OR THE UNIVERSITY OF ALABAMA AT HUNTSVILLE ALUMNI ASSOCIATION. THEY MAY ALSO BECOME A MEMBER OF THE CREDIT UNION IF THEY LIVE, WORK OR ATTEND SCHOOL IN A COUNTY IN WHICH THE CREDIT UNION HOLDS A COMMUNITY CHARTER. THESE COUNTIES ARE BIBB, BLOUNT, BALDWIN, CULLMAN, FAYETTE, HALE, JEFFERSON, LAMAR, LAWRENCE, LIMESTONE, MADISON, MARION, MARSHALL, MOBILE, ESCAMBIA, MORGAN, PICKENS, SHELBY, TUSCALOOSA, WALKER OR WINSTON COUNTIES OF ALABAMA AND ESCAMBIA COUNTY IN FLORIDA. BUSINESSES IN THESE COUNTIES ALSO QUALIFY. AN INDIVIDUAL MAY BECOME A MEMBER OF THE CREDIT UNION AS A RESULT OF EMPLOYMENT WITH A SPONSOR ORGANIZATION OR IF RELATED TO A CURRENT MEMBER OF ALABAMA CREDIT UNION. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE PROCESS FOR NOMINATING DIRECTORS BEGINS BY THE APPOINTMENT OF A NOMINATING COMMITTEE WHO DEVELOPS A LIST OF QUALIFIED CANDIDATES TO FILL VACANT BOARD POSITIONS IN ANY GIVEN YEAR. ONCE THIS LIST HAS BEEN COMPILED, THE NOMINATING COMMITTEE MAKES AVAILABLE THE INDIVIDUALS THEY DEEMED QUALIFIED TO THE MEMBERS OF THE CREDIT UNION IN THE JANUARY NEWSLETTER. MEMBERS ARE ALSO GIVEN THE OPPORTUNITY TO NOMINATE INDIVIDUALS THEY DEEM QUALIFIED BY PRESENTING THE NAME OF THE INDIVIDUAL ALONG WITH A SIGNED PETITION OF AT LEAST 1% OF CURRENT MEMBERS. SHOULD A QUALIFYING PETITION BE SUBMITTED, THE VOTE WOULD BE HELD AT THE CREDIT UNION'S ANNUAL MEETING, WITH THE TOP VOTE GETTERS BEING ELECTED. |
| FORM 990, PART VI, SECTION A, LINE 7B | THE FOLLOWING TYPES OF DECISIONS ARE SUBJECT TO APPROVAL BY THE CREDIT UNION'S MEMBERS: MERGER AND DISSOLUTION OF THE CREDIT UNION, ELECTION & TERMINATION OF BOARD MEMBERS, EXPULSION OF CREDIT UNION MEMBERS, ELECTION OF SUPERVISORY COMMITTEE MEMBERS, CONVERSION FROM STATE TO FEDERAL CHARTER, & CONVERSION FROM FEDERAL TO PRIVATE INSURANCE AS WELL AS AMENDMENT OF BY-LAWS. |
| FORM 990, PART VI, SECTION B, LINE 11B | UPON COMPLETION OF THE CREDIT UNION'S FORM 990, THE RETURN IS PRESENTED TO THE BOARD AT A BOARD OF DIRECTORS MEETING. AT THE MEETING, THE BOARD MEMBERS REVIEW THE TAX RETURN AND ARE FREE TO ASK ANY QUESTIONS OR ENGAGE IN DISCUSSION REGARDING ANY TOPIC COVERED IN THE RETURN. ONCE THE GOVERNING BODY HAS REVIEWED AND APPROVED THE FORM 990, THE RETURN IS FILED WITH THE INTERNAL REVENUE SERVICE. |
| FORM 990, PART VI, SECTION B, LINE 12C | ALABAMA CREDIT UNION'S CONFLICT OF INTEREST POLICY IS INCLUDED IN THE EMPLOYEE HANDBOOK. EACH YEAR, THE STAFF SIGN A DOCUMENT STATING THAT THEY HAVE READ THE CONFLICT OF INTEREST POLICY. THE BOARD OF DIRECTORS ALSO REVIEW THE CONFLICT OF INTEREST POLICY ON A YEARLY BASIS. |
| FORM 990, PART VI, SECTION B, LINE 15 | COMPENSATION FOR OFFICERS, KEY EMPLOYEES & TOP MANAGEMENT OFFICIALS IS DETERMINED ON A YEARLY BASIS. THE COMPENSATION PROCESS BEGINS WITH A COMPILATION OF SALARY RANGES DEVELOPED BY AN OUTSIDE SERVICE SUBSCRIBED TO BY THE CREDIT UNION. THE THIRD PARTY SERVICE PROVIDES RELEVANT COMPENSATION INFORMATION FOR VARIOUS POSITIONS AND REFLECTS INDUSTRY AVERAGES. ONCE THIS INFORMATION HAS BEEN COMPILED, THE SALARY RANGES ARE THEN APPROVED BY THE PERSONNEL COMMITTEE AND THE BOARD OF DIRECTORS. THE PRESIDENT'S COMPENSATION FOR THE YEAR IS SET BY THE BOARD OF DIRECTORS. THE PRESIDENT THEN SETS THE COMPENSATION PACKAGES FOR THE REMAINING OFFICERS. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE CREDIT UNION MAKES AVAILABLE ITS FINANCIAL STATEMENTS VIA THE NCUA WEBSITE WHICH CAN BE FOUND AT WWW.NCUA.GOV. OTHER DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. |
| FORM 990, PART XI, LINE 9: | CECL ADJUSTMENT -1,512,525. |
| FORM 990, PART XII, LINE 2: | ON A YEARLY BASIS, THE NATIONAL CREDIT UNION ADMINISTRATION COMES IN AND EXAMINES THE FINANCIAL STATEMENTS OF ALABAMA CREDIT UNION. THE CREDIT UNION IS ALSO EXAMINED BY THE ALABAMA CREDIT UNION ADMINISTRATION AND THE LEAGUE OF SOUTHEASTERN CREDIT UNIONS AT VARIOUS TIMES DURING THE YEAR. THE CREDIT UNION'S SEPTEMBER 30TH FINANCIAL STATEMENTS ARE AUDITED BY AN INDEPENDENT ACCOUNTANT. |
| SECTION 1.263(A)-1(F) DE MINIMIS SAFE HARBOR ELECTION | ALABAMA CREDIT UNION P.O. BOX 862998 TUSCALOOSA, AL 35486 EMPLOYER IDENTIFICATION NUMBER: 63-0440014 FOR THE YEAR ENDING DECEMBER 31, 2023 ALABAMA CREDIT UNION IS MAKING THE DE MINIMIS SAFE HARBOR ELECTION UNDER REG. SEC. 1.263(A)-1(F). |
| SECTION 1.263(A)-3(N) ELECTION | ALABAMA CREDIT UNION P.O. BOX 862998 TUSCALOOSA, AL 35486 EMPLOYER IDENTIFICATION NUMBER: 63-0440014 FOR THE YEAR ENDING DECEMBER 31, 2023 ALABAMA CREDIT UNION IS MAKING THE ELECTION TO CAPITALIZE REPAIR AND MAINTENANCE COSTS UNDER REG. SEC. 1.263(A)-3(N). |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp (3 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Total IncomeTotalIncomeAmt | End Of Year AssetsEndOfYearAssetsAmt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt |
|---|---|---|---|---|---|---|---|---|---|
| ACUS HOLDINGS LLC | |||||||||
| PO BOX 862998 | TUSCALOOSA | AL | 35486 | 921706200 | CUSO HOLDING COMPANY | AL | -$208,580 | $979,754 | ALABAMA CREDIT UNION |
| ACUSI LLC | |||||||||
| PO BOX 862998 | TUSCALOOSA | AL | 35486 | 922648109 | CUSO | AL | $539,874 | $609,214 | ACUS HOLDINGS LLC |
| ACU GROUP LLC | |||||||||
| PO BOX 862998 | TUSCALOOSA | AL | 35486 | 922489584 | CUSO | AL | $56,039 | $98,116 | ACUS HOLDINGS LLC |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ALABAMA CU SERVICES INC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 862998 | AddressLine1Txt |
| City | TUSCALOOSA | CityNm |
| State Abbreviation | AL | StateAbbreviationCd |
| ZIP | 35486 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 203294739 | EIN |
| Primary Activities | FINANCIAL SERVICES | PrimaryActivitiesTxt |
| Legal Domicile State | AL | LegalDomicileStateCd |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ALABAMA CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Entity Type | C | EntityTypeTxt |
| Share Of Total Income | $3,733 | ShareOfTotalIncomeAmt |
| Share Of EOY Assets | $2,261,625 | ShareOfEOYAssetsAmt |
| Ownership | 1.00000 | OwnershipPct |
| Controlled Organization | Yes (1) | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |