2023-11-03T11:53:38-07:00 2022-12-31 990 2022-01-01 580664019 Coosa Valley Credit Union COOS 7062358551 2010 Redmond Circle Rome GA 30165 Guy Chambless CFO 7062358551 2023-11-03 1 1 11 0 AAL2 X 2022 2023-04-26 12:10:37Z Andy F Harris President - CEO 2010 Redmond Circle Rome GA 30165 34552036 0 X www.mycvcu.org X 2017 GA Provide savings and lending activities to member owners of the cooperative. 12 12 126 12 0 0 0 0 27010541 33258971 334049 1257065 36000 36000 27380590 34552036 0 0 3372956 0 7104706 11863169 0 0 0 11559595 15568179 22037257 27431348 5343333 7120688 521231072 596907739 479129378 551910467 42101694 44997272 Provide savings and lending activities to member owners of the cooperative. 0 0 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. 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 8295 0 1 126 1 0 0 0 0 0 0 0 0 X 12 12 1 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X Guy Chambless 7062358551 2010 Redmond Circle Rome GA 30165 Andy F Harris President/CEO 40 0 X 923536 0 39405 Guy Chambless CFO 40 0 X 435215 0 34830 A Dawn Harris COO 40 0 X 433852 0 26123 Saunders Jones III CLO 40 0 X 382177 0 33059 Sean G Gauldin VP of Infomation Technology 40 0 X 190758 0 20916 Jessica L Newberry VP of Compliance & Process Development 40 0 X 180528 0 26818 Serena L Stevenson VP HR/Staff Development 40 0 X 185117 0 20401 Sharon R Presley VP of Operations 40 0 X 182061 0 21372 Rhonda K Wilson VP of Indirect Services 40 0 X 179377 0 19261 Stephanie Graves VP of Marketing 40 0 X 172359 0 22470 Sharon L McAlister VP of Branch Operations 40 0 X 180834 0 3210 Jacob W Simpson VP of Continuous Improvement 40 0 X 169439 0 11775 Sherry D Dunn Branch Manager 40 0 X 131688 0 12605 Tammy B Henson Branch Manager 40 0 X 121071 0 11798 Dennis G Johnson Director of Facilities & Maintenance 40 0 X 114255 0 10812 Brett M Hunter Branch Manager 40 0 X 114522 0 10521 Vicki R Thompson Branch Manager 40 0 X 108933 0 13934 Robert E Smyth Internal Communications 40 0 X 110650 0 11583 Kimberly R Acrey Director of Loan Operations 40 0 X 100648 0 21547 Emily H Oyler Branch Manager 40 0 X 107715 0 12083 Mitchell L Sims Director of Information Systems 40 0 X 109592 0 5775 Glenn W Williams Director of Collections 40 0 X 104642 0 10523 James M Chambers Accounting Supervisor 40 0 X 100929 0 10985 David W Hulsey Branch Manager 40 0 X 102134 0 9723 Grayson S Bagwell Branch Manager 40 0 X 100544 0 8033 Jennifer A Lipham Director of Branch Operations - North 40 0 X 100569 0 7337 G Cleveland Hartley Board Chariman 2 0 X 2500 0 0 Kenneth C Duskey Board Treasurer 2 0 X 2500 0 0 Randy Quick Board Vice Chairman 2 0 X 2500 0 0 Richard DiPrima Board Secretary 1 0 X 2500 0 0 Kelly Barnes Board Member 1 0 X 2500 0 0 Chris Brock Board Member 1 0 X 2500 0 0 Matthew Crane Board Member 1 0 X 2500 0 0 Pam Givens Board Member 1 0 X 2500 0 0 Lucian Harris Board Member 1 0 X 2500 0 0 Jenny Shealy Board Member 1 0 X 2500 0 0 Brad Wilson Board Member 1 0 X 2500 0 0 Chad Woods Board Member 1 0 X 2500 0 0 5173145 0 436899 26 0 1 0 Route 66 P O Box 1075 Mountain Home AR 72654 Member Insurance 4364991 Graham Construction 218 E Main Cartersville GA 30120 Construction/Builder 2127632 Jack Henry & Associates Inc P O Box 609 Monett MO 65708 Core Processor 1432343 FIS P O Box 4535 Carol Stream IL 60197 Card Processing 1405365 Allied Solutions LLC 350 Veterans Way Suite 200 Carmel IN 46032 Member Insurance 835510 30 0 Loan Interest 522100 21209519 21209519 0 0 Fee/Other Income 522100 12049452 12049452 0 0 0 0 0 0 33258971 1257065 1257065 0 0 0 0 0 0 0 0 0 0 36000 0 0 0 36000 0 36000 36000 0 0 0 0 0 34552036 34552036 0 0 X 5173145 4283146 414346 1439859 552673 22625 35421 4882220 1099754 1872746 1253987 224484 1082685 1482581 Provision For Loan Losses 2324876 Loan Servicing 1053741 Dues 70049 State Operating Fee 53896 109114 27431348 0 0 0 17939437 19257013 57161172 40150066 8975 34930 347043563 438954922 930173 957958 35190229 10959358 21215779 24230871 59884242 54111197 17047731 19210782 521231072 596907739 8554231 9450771 7650105 470575147 534809591 479129378 551910467 X 0 0 0 0 42101694 44997272 42101694 44997272 521231072 596907739 7120688 -4225110 0 0 0 0 X 0 1 1 0 0 5281779 5281779 0 18868598 3803604 15064994 0 1893461 777408 1116053 0 9146391 6378346 2768045 0 0 0 0 24230871 0 Regular Shares 247961844 Share Drafts 137753380 Money Market & Other Shares 58358944 IRA Shares 7980957 Share & IRA Certificates 82754466 534809591 X Schedule D, Part X, Line 2 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. X X 1 1 X X X 0 1 0 Andy F Harris President/CEO 630858 0 292678 0 0 0 39405 0 17367 0 980308 0 0 0 Guy Chambless CFO 319283 0 115932 0 0 0 34830 0 3048 0 473093 0 0 0 A Dawn Harris COO 317220 0 116632 0 0 0 26123 0 17212 0 477187 0 0 0 Saunders Jones III CLO 266245 0 115932 0 0 0 33059 0 24270 0 439506 0 0 0 Sean G Gauldin VP of Infomation Technology 171067 0 19691 0 0 0 20916 0 18014 0 229688 0 0 0 Serena L Stevenson VP HR/Staff Development 165856 0 19261 0 0 0 20401 0 14671 0 220189 0 0 0 Sharon R Presley VP of Operations 163039 0 19021 0 0 0 21372 0 19191 0 222623 0 0 0 Sharon L McAlister VP of Branch Operations 162519 0 18314 0 0 0 3210 0 1595 0 185638 0 0 0 Jessica L Newberry VP of Compliance & Process Development 161106 0 19421 0 0 0 26818 0 26750 0 234095 0 0 0 Rhonda K Wilson VP of Indirect Services 161063 0 18314 0 0 0 19261 0 9085 0 207723 0 0 0 Stephanie Graves VP of Marketing 152545 0 19814 0 0 0 22470 0 21847 0 216676 0 0 0 Jacob W Simpson VP of Continuous Improvement 151864 0 17575 0 0 0 11775 0 22824 0 204038 0 0 0 Sherry D Dunn Branch Manager 120429 0 11259 0 0 0 12605 0 10251 0 154544 0 0 0 Tammy B Henson Branch Manager 110387 0 10684 0 0 0 11798 0 10256 0 143125 0 0 0 Brett M Hunter Branch Manager 103499 0 11023 0 0 0 10521 0 10105 0 135148 0 0 0 Dennis G Johnson Director of Facilities & Maintenance 97882 0 16373 0 0 0 10812 0 9245 0 134312 0 0 0 Robert E Smyth Internal Communications 98742 0 11908 0 0 0 11583 0 950 0 123183 0 0 0 Mitchell L Sims Director of Information Systems 97709 0 11883 0 0 0 5775 0 10200 0 125567 0 0 0 Vicki R Thompson Branch Manager 97967 0 10966 0 0 0 13934 0 9263 0 132130 0 0 0 Emily H Oyler Branch Manager 97215 0 10500 0 0 0 12083 0 11317 0 131115 0 0 0 Glenn W Williams Director of Collections 93611 0 11031 0 0 0 10523 0 18719 0 133884 0 0 0 David W Hulsey Branch Manager 91434 0 10700 0 0 0 9723 0 9389 0 121246 0 0 0 James M Chambers Accounting Supervisor 89522 0 11408 0 0 0 10985 0 8921 0 120836 0 0 0 Kimberly R Acrey Director of Loan Operations 88782 0 11866 0 0 0 21547 0 17062 0 139257 0 0 0 Jennifer A Lipham Director of Branch Operations - North 89135 0 11434 0 0 0 7337 0 18843 0 126749 0 0 0 Grayson S Bagwell Branch Manager 90094 0 10450 0 0 0 8033 0 8671 0 117248 0 0 0 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 memberships. Schedule J, Part I, Line 4 CEO, CFO, CLO, & COO are all part of a deferred compensation arrangement - credit union only life insurance plan. CEO also has a split dollar arrangement. 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 the 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 and 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: $3,937,369; Other Professional Fees: $944,851