Coosa Valley Credit Union: Form 990, tax year 2021
View the entire original 990 at ProPublica ↗
- Organization
- Coosa Valley Credit Union (EIN 58-0664019)
- Tax period
- 2021-01-01 to 2021-12-31
- Filed
- 2023-02-09
- IRS object ID
- 202330409349300118
- Schema version
- 2021v4.0
- 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 | 2023-02-09T11:56:42-07:00 | ReturnTs |
| Tax Period End | 2021-12-31 | TaxPeriodEndDt |
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2021-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 580664019 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Coosa Valley Credit Union | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | COOS | BusinessNameControlTxt |
| Phone | 7062358551 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2010 Redmond Circle | AddressLine1Txt |
| City | Rome | CityNm |
| State Abbreviation | GA | StateAbbreviationCd |
| ZIP | 30165 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Guy Chambless | PersonNm |
| Person Title | CFO | PersonTitleTxt |
| Phone | 7062358551 | PhoneNum |
| Signature | 2021-11-14 | SignatureDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 0 | TrustedCustomerCd |
| OOB Security Verification | 11 | OOBSecurityVerificationCd |
| Last Submission Rqr OOB | 0 | LastSubmissionRqrOOBCd |
| Authentication Assurance Level | AAL2 | AuthenticationAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2021 | TaxYr |
| Build TS | 2023-03-07 01:45:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | Andy F Harris - President and CEO | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2010 Redmond Circle | AddressLine1Txt |
| City | Rome | CityNm |
| State Abbreviation | GA | StateAbbreviationCd |
| ZIP | 30165 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $27,380,590 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | www.mycvcu.org | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2017 | FormationYr |
| Legal Domicile State | GA | LegalDomicileStateCd |
| Activity Or Mission | Provide savings and lending activities to member owners of the cooperative. | ActivityOrMissionDesc |
| Voting Members Governing Body | 13 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 13 | VotingMembersIndependentCnt |
| Total Employee | 120 | TotalEmployeeCnt |
| Total Volunteers | 13 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $24,168,711 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $27,010,541 | CYProgramServiceRevenueAmt |
| PY Investment Income | $488,745 | PYInvestmentIncomeAmt |
| CY Investment Income | $334,049 | CYInvestmentIncomeAmt |
| PY Other Revenue | $36,000 | PYOtherRevenueAmt |
| CY Other Revenue | $36,000 | CYOtherRevenueAmt |
| PY Total Revenue | $24,693,456 | PYTotalRevenueAmt |
| CY Total Revenue | $27,380,590 | CYTotalRevenueAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| CY Benefits Paid To Members | $3,372,956 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $9,775,088 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $7,104,706 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $11,308,842 | PYOtherExpensesAmt |
| CY Other Expenses | $11,559,595 | CYOtherExpensesAmt |
| PY Total Expenses | $21,083,930 | PYTotalExpensesAmt |
| CY Total Expenses | $22,037,257 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $3,609,526 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $5,343,333 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $430,036,558 | TotalAssetsBOYAmt |
| Total Assets EOY | $521,231,072 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $392,679,491 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $479,129,378 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $37,357,067 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $42,101,694 | NetAssetsOrFundBalancesEOYAmt |
| Mission | Provide savings and lending activities to member owners of the cooperative. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | Income from the credit union membership and from investment of members' funds provide the foundation from which the organization can function and provide services to its restricted membership. | Desc |
| Total Other Prog Srvc Expense | $0 | TotalOtherProgSrvcExpenseAmt |
| Total Other Prog Srvc Grant | $0 | TotalOtherProgSrvcGrantAmt |
| Total Other Prog Srvc Revenue | $0 | TotalOtherProgSrvcRevenueAmt |
| Total Program Service Expenses | $0 | TotalProgramServiceExpensesAmt |
| 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 | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | 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 | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | 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 | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 7234 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 120 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| 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 | 13 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 13 | IndependentVotingMemberCnt |
| Family Or Business Rln | Yes (1) | 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 | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | 0 | 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 | Guy Chambless | PersonNm |
| Phone | 7062358551 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2010 Redmond Circle | AddressLine1Txt |
| City | Rome | CityNm |
| State Abbreviation | GA | StateAbbreviationCd |
| ZIP | 30165 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (31 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd |
|---|---|---|---|---|---|---|---|
| Andy F Harris | |||||||
| President/CEO | 40 | Yes (X) | $500,999 | $0 | $37,481 | ||
| Guy Chambless | |||||||
| CFO | 40 | Yes (X) | $272,994 | $0 | $31,801 | ||
| Saunders Jones III | |||||||
| CLO | 40 | Yes (X) | $263,439 | $0 | $31,491 | ||
| A Dawn Harris | |||||||
| COO | 40 | Yes (X) | $262,882 | $0 | $24,622 | ||
| Sean G Gauldin | |||||||
| VP - Information Technology | 40 | Yes (X) | $208,950 | $0 | $20,259 | ||
| Serena L Stevenson | |||||||
| VP - HR/Staff Development | 40 | Yes (X) | $188,995 | $0 | $19,749 | ||
| Sharon R Presley | |||||||
| VP - Operations | 40 | Yes (X) | $181,449 | $0 | $23,965 | ||
| Jessica L Newberry | |||||||
| VP - Audi | 40 | Yes (X) | $177,289 | $0 | $25,967 | ||
| Rhonda K Wilson | |||||||
| VP - Indirect Services | 40 | Yes (X) | $170,479 | $0 | $18,314 | ||
| Stephanie Graves | |||||||
| VP - Marketing & Social Media | 40 | Yes (X) | $163,803 | $0 | $21,087 | ||
| Sharon L McAlister | |||||||
| VP - Branch Operations | 40 | Yes (X) | $171,489 | $0 | $3,052 | ||
| Sherry D Dunn | |||||||
| Branch Manager | 40 | $120,984 | $0 | $12,209 | Yes (X) | ||
| Tammy B Henson | |||||||
| Branch Manager | 40 | $115,206 | $0 | $11,260 | Yes (X) | ||
| Brett M Hunter | |||||||
| Branch Manager | 40 | $113,803 | $0 | $10,770 | Yes (X) | ||
| Robert E Smyth | |||||||
| Internal Communications | 40 | $109,687 | $0 | $11,252 | Yes (X) | ||
| Jerri Knowles | |||||||
| Financial Services Officer | 40 | $104,524 | $0 | $14,213 | Yes (X) | ||
| Dennis G Johnson | |||||||
| Director Of Facilities & Maintenance | 40 | $104,587 | $0 | $10,046 | Yes (X) | ||
| Mitchell L Sims | |||||||
| Director Of Information Systems | 40 | $108,897 | $0 | $5,513 | Yes (X) | ||
| G Cleveland Hartley | |||||||
| Board Chairman | 2 | $2,500 | $0 | $0 | Yes (X) | ||
| Kenneth C Duskey | |||||||
| Board Treasurer | 2 | $2,500 | $0 | $0 | Yes (X) | ||
| C Robert Blalock Jr | |||||||
| Board Vice Chairman | 2 | $2,500 | $0 | $0 | Yes (X) | ||
| Richard DiPrima | |||||||
| Board Secretary | 1 | $2,500 | $0 | $0 | Yes (X) | ||
| Kelly Barnes | |||||||
| Board Memeber | 1 | $2,500 | $0 | $0 | Yes (X) | ||
| Chris Brock | |||||||
| Board Member | 1 | $2,500 | $0 | $0 | Yes (X) | ||
| Matthew Crane | |||||||
| Board Member | 1 | $2,500 | $0 | $0 | Yes (X) | ||
| Pam Givens | |||||||
| Board Member | 1 | $2,500 | $0 | $0 | Yes (X) | ||
| Lucian Harris | |||||||
| Board Member | 1 | $2,500 | $0 | $0 | Yes (X) | ||
| Randy Quick | |||||||
| Board Member | 1 | $2,500 | $0 | $0 | Yes (X) | ||
| Jenny Shealy | |||||||
| Board Member | 1 | $2,500 | $0 | $0 | Yes (X) | ||
| Brad Wilson | |||||||
| Board Member | 1 | $2,500 | $0 | $0 | Yes (X) | ||
| Chad Woods | |||||||
| Board Member | 1 | $2,500 | $0 | $0 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $3,372,956 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $333,051 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 18 | 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 |
|---|---|---|---|---|---|
| Route 66 | |||||
| P O Box 1075 | Mountain Home | AR | 72654 | Member Insurance | $2,306,311 |
| FIS | |||||
| P O Box 4535 | Carol Stream | IL | 60197 | Card Processing | $1,304,111 |
| Jack Henry & Associates Inc | |||||
| P O Box 609 | Monett | MO | 65708 | Core Processor | $1,132,339 |
| Graham Construction | |||||
| 218 E Main | Cartersville | GA | 30120 | Construction/Builder | $568,010 |
| CMG Atlanta Radio | |||||
| P O Box 83191 | Chicago | IL | 60691 | Advertising | $464,200 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 22 | CntrctRcvdGreaterThan100KCnt |
| Total Contributions | $0 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt | ExclusionExclusionAmt |
|---|---|---|---|---|---|
| Loan Interest | 522100 | $16,896,538 | $16,896,538 | $0 | $0 |
| Fee/Other Income | 522100 | $10,114,003 | $10,114,003 | $0 | $0 |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $27,010,541 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $334,049 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $334,049 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $36,000 | RealAmt |
| Personal | $0 | PersonalAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
| Personal | $0 | PersonalAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $36,000 | RealAmt |
| Personal | $0 | PersonalAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $36,000 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $36,000 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $0 | SecuritiesAmt |
| Other | $0 | OtherAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $0 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $27,380,590 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $27,380,590 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,372,956 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,024,148 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $380,148 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,208,755 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $491,655 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $16,849 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $30,000 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,061,941 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,039,009 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,619,858 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,199,075 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $156,561 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $636,185 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,258,185 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| Provision For Losses | $316,186 |
| Loan Servicing | $911,484 |
| State Operating Fee | $47,574 |
| Miscellaneous | $266,688 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $22,037,257 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,355,015 | BOYAmt |
| EOY | $17,939,437 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $38,006,214 | BOYAmt |
| EOY | $57,161,172 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $182,946 | BOYAmt |
| EOY | $8,975 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $300,288,144 | BOYAmt |
| EOY | $347,043,563 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,101,702 | BOYAmt |
| EOY | $930,173 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $30,692,556 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $9,476,777 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $19,119,975 | BOYAmt |
| EOY | $21,215,779 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $41,051,159 | BOYAmt |
| EOY | $59,884,242 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,931,403 | BOYAmt |
| EOY | $17,047,731 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $430,036,558 | BOYAmt |
| EOY | $521,231,072 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,104,908 | BOYAmt |
| EOY | $8,554,231 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $386,574,583 | BOYAmt |
| EOY | $470,575,147 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $392,679,491 | BOYAmt |
| EOY | $479,129,378 | 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 | $37,357,067 | BOYAmt |
| EOY | $42,101,694 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $37,357,067 | BOYAmt |
| EOY | $42,101,694 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $430,036,558 | BOYAmt |
| EOY | $521,231,072 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $5,343,333 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$598,706 | NetUnrlzdGainsLossesInvstAmt |
| Donated Services And Use Fclts | $0 | DonatedServicesAndUseFcltsAmt |
| Investment Expense | $0 | InvestmentExpenseAmt |
| Prior Period Adjustments | $0 | PriorPeriodAdjustmentsAmt |
| Other Changes In Net Assets | $0 | 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 | Yes (1) | FSAuditedInd |
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $0 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $5,300,364 | OtherCostOrOtherBasisAmt |
| Book Value | $5,300,364 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $0 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $15,577,041 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,324,070 | DepreciationAmt |
| Book Value | $12,252,971 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $0 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $1,873,789 | OtherCostOrOtherBasisAmt |
| Depreciation | $702,206 | DepreciationAmt |
| Book Value | $1,171,583 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $0 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $7,941,362 | OtherCostOrOtherBasisAmt |
| Depreciation | $5,450,501 | DepreciationAmt |
| Book Value | $2,490,861 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $0 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $0 | OtherCostOrOtherBasisAmt |
| Depreciation | $0 | DepreciationAmt |
| Book Value | $0 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $21,215,779 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (5 entries)
| DescDesc | AmtAmt |
|---|---|
| Regular Shares | $231,176,636 |
| Share Drafts | $130,027,004 |
| Money Market & Other Shares | $56,523,993 |
| IRA Shares | $7,591,038 |
| Share & IRA Certificates | $45,256,476 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $470,575,147 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule D, Part X, Line 2 | FormAndLineReferenceDesc |
| Explanation | The Credit Union is exempt from most federal, state, and local taxes under the provisions of the Internal Revenue Code and state tax laws. However, the Credit Union is subject to unrelated business income tax. The Income Taxes Topic of the FASB ASC clarifies accounting for uncertainty in income taxes reported in the financial statements. The interpretation provides criteria for assessment of individual tax positions and a process for recognition and measurement of uncertain tax positions. Tax positions are evaluated on whether they meet the "more likely than not" standard for sustainability on examination by tax authorities. Management has determined there are no material uncertain tax positions. However, the Credit Union is subject to unrelated business income tax. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Club Dues Or Fees | Yes (X) | ClubDuesOrFeesInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| 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 (18 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 Rltd OrgsCompReportPrior990RltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Andy F Harris | ||||||||||||||
| President/CEO | $359,611 | $0 | $141,388 | $0 | $0 | $0 | $37,481 | $0 | $9,514 | $0 | $547,994 | $0 | $0 | |
| Guy Chambless | ||||||||||||||
| CFO | $205,194 | $0 | $67,800 | $0 | $0 | $0 | $31,801 | $0 | $3,064 | $0 | $307,859 | $0 | $0 | $0 |
| A Dawn Harris | ||||||||||||||
| COO | $205,082 | $0 | $57,800 | $0 | $0 | $0 | $24,622 | $0 | $16,961 | $0 | $304,465 | $0 | $0 | $0 |
| Sharon R Presley | ||||||||||||||
| VP - Operations | $163,206 | $0 | $18,243 | $0 | $0 | $0 | $23,965 | $0 | $9,793 | $0 | $215,207 | $0 | $0 | $0 |
| Sean G Gauldin | ||||||||||||||
| VP - Information Technology | $180,058 | $0 | $28,892 | $0 | $0 | $0 | $20,259 | $0 | $17,695 | $0 | $246,904 | $0 | $0 | $0 |
| Saunders Jones III | ||||||||||||||
| CLO | $200,539 | $0 | $62,900 | $0 | $0 | $0 | $31,491 | $0 | $24,563 | $0 | $319,493 | $0 | $0 | $0 |
| Jessica L Newberry | ||||||||||||||
| VP - Audi | $159,045 | $0 | $18,244 | $0 | $0 | $0 | $25,967 | $0 | $22,212 | $0 | $225,468 | $0 | $0 | $0 |
| Serena L Stevenson | ||||||||||||||
| VP - HR/Staff Development | $160,218 | $0 | $28,777 | $0 | $0 | $0 | $19,749 | $0 | $15,332 | $0 | $224,076 | $0 | $0 | $0 |
| Stephanie Graves | ||||||||||||||
| VP - Marketing & Social Media | $145,268 | $0 | $18,535 | $0 | $0 | $0 | $21,087 | $0 | $22,705 | $0 | $207,595 | $0 | $0 | $0 |
| Sharon L McAlister | ||||||||||||||
| VP - Branch Operations | $153,954 | $0 | $17,535 | $0 | $0 | $0 | $3,052 | $0 | $1,758 | $0 | $176,299 | $0 | $0 | $0 |
| Rhonda K Wilson | ||||||||||||||
| VP - Indirect Services | $152,144 | $0 | $18,335 | $0 | $0 | $0 | $18,314 | $0 | $13,030 | $0 | $201,823 | $0 | $0 | $0 |
| Sherry D Dunn | ||||||||||||||
| Branch Manager | $110,258 | $0 | $10,726 | $0 | $0 | $0 | $12,209 | $0 | $9,999 | $0 | $143,192 | $0 | $0 | $0 |
| Robert E Smyth | ||||||||||||||
| Internal Communications | $98,010 | $0 | $11,677 | $0 | $0 | $0 | $11,252 | $0 | $949 | $0 | $121,888 | $0 | $0 | $0 |
| Brett M Hunter | ||||||||||||||
| Branch Manager | $103,207 | $0 | $10,596 | $0 | $0 | $0 | $10,770 | $0 | $9,396 | $0 | $133,969 | $0 | $0 | $0 |
| Tammy B Henson | ||||||||||||||
| Branch Manager | $105,155 | $0 | $10,051 | $0 | $0 | $0 | $11,260 | $0 | $9,928 | $0 | $136,394 | $0 | $0 | $0 |
| Dennis G Johnson | ||||||||||||||
| Director Of Facilities & Maintenance | $93,213 | $0 | $11,374 | $0 | $0 | $0 | $10,046 | $0 | $8,396 | $0 | $123,029 | $0 | $0 | $0 |
| Mitchell L Sims | ||||||||||||||
| Director Of Information Systems | $97,701 | $0 | $11,196 | $0 | $0 | $0 | $5,513 | $0 | $10,039 | $0 | $124,449 | $0 | $0 | $0 |
| Jerri Knowles | ||||||||||||||
| Financial Services Officer | $94,011 | $0 | $10,513 | $0 | $0 | $0 | $14,213 | $0 | $1,277 | $0 | $120,014 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule J, Part I, Line 1a | When overnight travel is required for conferences, meetings, etc. the credit union pays for a companion to accompany the employee/director on the trip. Country club dues are paid on behalf of the CEO & CLO due to business benefits of having those membeships. |
| Schedule J, Part I, Line 4 | CEO, CFO, CLO, & COO are all part of a deferred compensation arrangement - credit union only life insurance plan. |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part VI, Section A, Line 2 | G. Cleveland Hartley and Chad Woods - family relationship. |
| Form 990, Part VI, Section A, Line 6 | The organization has members. |
| Form 990, Part VI, Section A, Line 7a | The credit union membership may participate in the election of officials. |
| Form 990, Part VI, Section A, Line 7b | Members of the credit union have the right to approve the governing body's election and removal of members of the governing body, as well as other matters that are subject to the approval of members of the credit union as they occur. |
| Form 990, Part VI, Section B, Line 11b | All financial numbers are reviewed for accuracy with final YTD financial statements. The completed return is then reviewed with prior return for accuracy. |
| Form 990, Part VI, Section B, Line 12c | The organization maintains a conflict of interest policy within its code of ethics. This policy is enforced at all times and reviewed periodically by our board of directors, supervisory committee and/or internal audit department. |
| Form 990, Part VI, Section B, Line 15 | The organization uses survey data during an annual review process to determine the reasonableness of all compensation and benefits. The review of the CEO's compensation is a function of the board of directors annually. The board uses an executive compensation survey from an independent third party to determine the CEO's compensation. For all other officer/key employee positions in the organization, pay ranges are reviewed and approved on an annual basis by the CEO utilizing data from an independent compensation study. |
| Form 990, Part VI, Section C, Line 19 | The organizations governing documents and conflict of interest policy are not made available to the public. The financial statements are available upon request and/or via the quarterly 5300 filing. |
| Form 990, Part IX, Line 11g | Card & Processing Expenses: $3,456,466; Other Professional Fees: $605,155 |
| Form 990, Part XII, Line 2c | No changes to oversight process or selection process. |
Reasonable Cause Explanation ReasonableCauseExplanation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Explanation | Filing was mailed timely (Mailed on 11/14/2022 - extension approved) and received by IRS, per the stamp, on 11/21/2022. Return received back from IRS on 02/08/23 stating that entity was required to file electronically. We respectfully request that any penalties and late charges be waived as this was an oversite of the entity, the original return was filed complete (although by paper) in a timely fashion, and the required electronically filed return was submitted with haste upon receipt of IRS notice (Filed on 02/09/2023) | ExplanationTxt |