THE SOUTHERN CREDIT UNION: Form 990, tax year 2021
View the entire original 990 at ProPublica ↗
- Organization
- THE SOUTHERN CREDIT UNION (EIN 58-0905515)
- Tax period
- 2021-01-01 to 2021-12-31
- Filed
- 2022-10-06
- IRS object ID
- 202232799349301473
- Schema version
- 2021v4.2
- 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 | 2022-10-06T14:30:53-05:00 | ReturnTs |
| Tax Period End | 2021-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 580692043 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MAULDIN & JENKINS LLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 200 GALLERIA PKWY SE STE 1700 | AddressLine1Txt |
| City | ATLANTA | CityNm |
| State Abbreviation | GA | StateAbbreviationCd |
| ZIP | 303395946 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2021-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 580905515 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE SOUTHERN CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | SOUT | BusinessNameControlTxt |
| Phone | 7704603267 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 430 EAST LANIER AVENUE | AddressLine1Txt |
| City | FAYETTEVILLE | CityNm |
| State Abbreviation | GA | StateAbbreviationCd |
| ZIP | 30214 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JIM PHILLIPS | PersonNm |
| Person Title | CHIEF FINANCIAL OFFICER | PersonTitleTxt |
| Phone | 7704603216 | PhoneNum |
| Signature | 2022-10-06 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | JIM | PersonFirstNm |
| Person Last | PHILLIPS | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | XXX-XX-XXXX | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | MARY JO ALEXANDER | PreparerPersonNm |
| PTIN | P00002534 | PTIN |
| Phone | 7709558600 | PhoneNum |
| Preparation | 2022-10-06 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 3 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2021 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | RAY HULL | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 430 EAST LANIER AVENUE | AddressLine1Txt |
| City | FAYETTEVILLE | CityNm |
| State Abbreviation | GA | StateAbbreviationCd |
| ZIP | 30214 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $17,874,763 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.SOUTHERNONLINE.ORG | WebsiteAddressTxt |
| Type Of Organization Other | Yes (X) | TypeOfOrganizationOtherInd |
| Other Organization Dsc | STATE-CHARTERED CREDIT UNION | OtherOrganizationDsc |
| Formation | 1963 | FormationYr |
| Legal Domicile State | GA | LegalDomicileStateCd |
| Activity Or Mission | AS A STATE-CHARTERED CREDIT UNION, WE PROVIDE THRIFT SAVINGS, LOANS AND OTHER FINANCIAL SERVICES TO OUR MEMBERS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 7 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 6 | VotingMembersIndependentCnt |
| Total Employee | 91 | TotalEmployeeCnt |
| Total Volunteers | 1 | TotalVolunteersCnt |
| Total Gross UBI | $68,633 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $2,971 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $14,110,554 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $14,190,073 | CYProgramServiceRevenueAmt |
| PY Investment Income | $3,092,675 | PYInvestmentIncomeAmt |
| CY Investment Income | $2,599,428 | CYInvestmentIncomeAmt |
| PY Other Revenue | $74,509 | PYOtherRevenueAmt |
| CY Other Revenue | $117,343 | CYOtherRevenueAmt |
| PY Total Revenue | $17,277,738 | PYTotalRevenueAmt |
| CY Total Revenue | $16,906,844 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $27,500 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $16,050 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $7,793,155 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $7,596,535 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $7,345,866 | PYOtherExpensesAmt |
| CY Other Expenses | $6,952,678 | CYOtherExpensesAmt |
| PY Total Expenses | $15,166,521 | PYTotalExpensesAmt |
| CY Total Expenses | $14,565,263 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $2,111,217 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $2,341,581 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $474,524,073 | TotalAssetsBOYAmt |
| Total Assets EOY | $537,763,976 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $426,540,045 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $491,324,213 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $47,984,028 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $46,439,763 | NetAssetsOrFundBalancesEOYAmt |
| Mission | OUR MISSION IS TO ENHANCE THE LIVES OF THE MEMBERS WE SERVE BY HELPING MAKE THEIR FINANCIAL GOALS A REALITY. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | PROVIDE THRIFT SAVINGS, LOANS, AND OTHER FINANCIAL SERVICES TO 32,842 MEMBERS, AS A STATE-CHARTERED CREDIT UNION. | 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 | 0 | 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 | Yes (1) | 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 | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | 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 | 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 | 3376 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 91 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | 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 | 7 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 6 | 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 | 0 | 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 |
| States Where Copy Of Return Is Fld | GA | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JIM PHILLIPS | PersonNm |
| Phone | 7707191111 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 430 E LANIER AVE | AddressLine1Txt |
| City | FAYETTEVILLE | CityNm |
| State Abbreviation | GA | StateAbbreviationCd |
| ZIP | 30214 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (16 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| TRISHA SHERPY | ||||||||
| EXECUTIVE VICE PRESIDENT | 40.00 | Yes (X) | $998,475 | $0 | $95,327 | |||
| RAY HULL | ||||||||
| CEO/TREASURER | 40.00 | Yes (X) | $891,813 | $0 | $210,913 | Yes (X) | ||
| JIM PHILLIPS | ||||||||
| CFO | 40.00 | Yes (X) | $672,802 | $0 | $98,682 | |||
| JAMES RICHARDS | ||||||||
| VP OF MORTGAGES | 40.00 | $227,568 | $0 | $57,057 | Yes (X) | |||
| SAM POSEY | ||||||||
| CIO | 40.00 | $199,812 | $0 | $25,675 | Yes (X) | |||
| BARRY GRIFFIN | ||||||||
| VP OF BRANCH SERVICES | 40.00 | $163,162 | $0 | $54,537 | Yes (X) | |||
| JOHN PURDY | ||||||||
| CHIEF LENDING OFFICER | 40.00 | $173,891 | $0 | $20,172 | Yes (X) | |||
| KEITH SALTZMAN | ||||||||
| SENIOR DATA ANALYST | 40.00 | $146,616 | $0 | $26,947 | Yes (X) | |||
| SHANNON MESEROLE | ||||||||
| VP RISK MANAGEMENT | 40.00 | $126,632 | $0 | $13,437 | Yes (X) | |||
| JASON MONTROIS | ||||||||
| REGIONAL MARKET MGR | 40.00 | $102,908 | $0 | $27,092 | Yes (X) | |||
| MORRIS KELLY | ||||||||
| CHAIRMAN | 2.00 | Yes (X) | $14,150 | $0 | $0 | Yes (X) | ||
| WILTON MARCHMAN | ||||||||
| VICE CHAIR | 2.00 | Yes (X) | $14,150 | $0 | $0 | Yes (X) | ||
| JOHN RICK HALBERT | ||||||||
| SECRETARY | 1.50 | Yes (X) | $14,150 | $0 | $0 | Yes (X) | ||
| ROBERT MATTHEWS | ||||||||
| DIRECTOR | 1.50 | Yes (X) | $14,150 | $0 | $0 | Yes (X) | ||
| RANDY HOBBS | ||||||||
| DIRECTOR | 1.50 | Yes (X) | $14,150 | $0 | $0 | Yes (X) | ||
| MICHAEL FORAN | ||||||||
| DIRECTOR | 1.50 | Yes (X) | $14,150 | $0 | $0 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $3,788,579 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $629,839 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 10 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (3 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| FISERV | |||||
| 255 FISERV DRIVE | BROOKFIELD | WI | 53045 | CARD AND CORE PROCESSING | $1,127,415 |
| DIGITAL INSIGHT | |||||
| PO BOX 740641 | LOS ANGELES | CA | 900740641 | HOMEBANKING | $743,681 |
| BITDIAMOND COMMUNICATIONS SOLUTIONS | |||||
| 710 SW 34TH STREET | RENTON | WA | 98057 | STATEMENT PROCESSOR | $179,944 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 3 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| INTEREST ON LOANS | 522100 | $8,102,472 | $8,102,472 | |
| FEES & OTHER OPERATING INCOME | 522100 | $6,087,601 | $6,018,968 | $68,633 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $14,190,073 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,587,695 | TotalRevenueColumnAmt |
| Exclusion | $2,587,695 | ExclusionAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $117,343 | TotalRevenueColumnAmt |
| Exclusion | $117,343 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $976,426 | SecuritiesAmt |
| Other | $3,226 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $965,523 | SecuritiesAmt |
| Other | $2,396 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $10,903 | SecuritiesAmt |
| Other | $830 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $11,733 | TotalRevenueColumnAmt |
| Exclusion | $11,733 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $16,906,844 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $14,121,440 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $68,633 | UnrelatedBusinessRevenueAmt |
| Exclusion | $2,716,771 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,550 | TotalAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,500 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,942,019 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,580,755 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $254,165 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $414,661 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $404,935 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $41,125 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $133,830 | TotalAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $43,211 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $291,904 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $210,980 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,502,270 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $17,578 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $781,651 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $147,290 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $27,740 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $843,197 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $131,959 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| LOAN SERVICING | $1,332,994 |
| INTERNET BANKING EXPENS | $736,401 |
| DIVIDENDS AND INTEREST | $599,561 |
| PROVISION FOR LOAN LOSS | $110,987 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,565,263 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,918,652 | BOYAmt |
| EOY | $14,597,225 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $120,275,210 | BOYAmt |
| EOY | $119,975,205 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,624,616 | BOYAmt |
| EOY | $8,855,156 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $194,806,403 | BOYAmt |
| EOY | $190,621,065 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $26,512,013 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $11,117,739 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,025,556 | BOYAmt |
| EOY | $15,394,274 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $97,930,580 | BOYAmt |
| EOY | $170,160,194 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $973,686 | BOYAmt |
| EOY | $844,886 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,969,370 | BOYAmt |
| EOY | $17,315,971 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $474,524,073 | BOYAmt |
| EOY | $537,763,976 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,263,639 | BOYAmt |
| EOY | $4,805,474 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $420,276,406 | BOYAmt |
| EOY | $486,518,739 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $426,540,045 | BOYAmt |
| EOY | $491,324,213 | 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 | $47,984,028 | BOYAmt |
| EOY | $46,439,763 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $47,984,028 | BOYAmt |
| EOY | $46,439,763 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $474,524,073 | BOYAmt |
| EOY | $537,763,976 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $2,341,581 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$3,885,846 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | 0 | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,279,334 | OtherCostOrOtherBasisAmt |
| Book Value | $4,279,334 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $15,000,090 | OtherCostOrOtherBasisAmt |
| Depreciation | $4,671,725 | DepreciationAmt |
| Book Value | $10,328,365 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $326,633 | OtherCostOrOtherBasisAmt |
| Depreciation | $324,828 | DepreciationAmt |
| Book Value | $1,805 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $6,905,956 | OtherCostOrOtherBasisAmt |
| Depreciation | $6,121,186 | DepreciationAmt |
| Book Value | $784,770 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $15,394,274 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | SHARES AND DEPOSITS | Desc |
| Amt | $486,518,739 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $486,518,739 | TotalLiabilityAmt |
| Total Rev Etc Audited Fincl Stmt | $13,020,998 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | -$3,885,846 | NetUnrealizedGainsInvstAmt |
| Revenue Not Reported | -$3,885,846 | RevenueNotReportedAmt |
| Revenue Subtotal | $16,906,844 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $16,906,844 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $14,565,263 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $14,565,263 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $14,565,263 | TotalExpensesPerForm990Amt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | EDUCATIONAL ASSISTANCE | GrantTypeTxt |
| Recipient | 10 | RecipientCnt |
| Cash Grant | $11,500 | CashGrantAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | EDUCATIONAL GRANTS ARE AWARDED TO STUDENTS WHO RESIDE IN GEORGIA COUNTIES WHERE THE SOUTHERN CREDIT UNION CONDUCTS BUSINESS. MONIES ARE PAID DIRECTLY TO THE EDUCATIONAL INSTITUTION THEY ATTEND FOR THE BENEFIT OF THE SELECTED STUDENT. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| 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 | Yes (1) | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (8 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| TRISHA SHERPY | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | $235,442 | $0 | $400,000 | $0 | $363,033 | $0 | $82,023 | $0 | $13,304 | $0 | $1,093,802 | $0 | $0 | $0 |
| RAY HULL | ||||||||||||||
| CEO/TREASURER | $435,829 | $0 | $434,900 | $0 | $21,084 | $0 | $195,035 | $0 | $15,878 | $0 | $1,102,726 | $0 | $0 | $0 |
| JIM PHILLIPS | ||||||||||||||
| CFO | $272,250 | $0 | $400,000 | $0 | $552 | $0 | $82,474 | $0 | $16,208 | $0 | $771,484 | $0 | $0 | $0 |
| JAMES RICHARDS | ||||||||||||||
| VP OF MORTGAGES | $199,828 | $0 | $27,500 | $0 | $240 | $0 | $21,740 | $0 | $35,317 | $0 | $284,625 | $0 | $0 | $0 |
| SAM POSEY | ||||||||||||||
| CIO | $99,934 | $0 | $0 | $0 | $99,878 | $0 | $9,942 | $0 | $15,733 | $0 | $225,487 | $0 | $0 | $0 |
| BARRY GRIFFIN | ||||||||||||||
| VP OF BRANCH SERVICES | $154,078 | $0 | $7,500 | $0 | $1,584 | $0 | $17,250 | $0 | $37,287 | $0 | $217,699 | $0 | $0 | $0 |
| JOHN PURDY | ||||||||||||||
| CHIEF LENDING OFFICER | $163,051 | $0 | $10,600 | $0 | $240 | $0 | $16,560 | $0 | $3,612 | $0 | $194,063 | $0 | $0 | $0 |
| KEITH SALTZMAN | ||||||||||||||
| SENIOR DATA ANALYST | $139,844 | $0 | $5,740 | $0 | $1,032 | $0 | $14,350 | $0 | $12,597 | $0 | $173,563 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 1A | BOARD SPOUSES ATTENDED ANNUAL PLANNING SESSION |
| PART I, LINES 4A-B | SEVERANCE PAYMENTS IN THE AMOUNT OF $78,269 WERE MADE TO SAM POSEY, FORMER CIO DURING 2021. ACCRUED EXPENSES WERE MADE DURING 2021 TO THE 457F RETIREMENT PLAN, BY THE SOUTHERN CREDIT UNION ON BEHALF OF THE FOLLOWING EMPLOYEES: RAY HULL, PRESIDENT & CEO $166,035 TRISHA SHERPY, EXECUTIVE VICE PRESIDENT 54,872 JIM PHILLIPS, CFO 54,872 |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (3 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd |
|---|---|---|---|---|---|---|---|
| RAY HULL | |||||||
| PRESIDENT & CEO | SPLIT-DOLLAR LIFE INSURANCE | Yes (X) | $2,000,000 | $2,602,662 | 0 | Yes (1) | Yes (1) |
| TRISHA SHERPY | |||||||
| EXECUTIVE VICE PRESIDENT | SPLIT-DOLLAR LIFE INSURANCE | Yes (X) | $3,061,018 | $3,863,098 | 0 | Yes (1) | Yes (1) |
| JIM PHILLIPS | |||||||
| CHIEF FINANCIAL OFFICER | SPLIT-DOLLAR LIFE INSURANCE | Yes (X) | $1,893,295 | $2,389,396 | 0 | Yes (1) | Yes (1) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $8,855,156 | TotalBalanceDueAmt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (7 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | ALL QUALIFIED PERSONS WITH A PAR VALUE SHARE ACCOUNT ARE MEMBERS. DURING THIS REPORTING YEAR THERE WERE APPROXIMATELY 32,842 MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE MEMBERS OF THE BOARD OF DIRECTORS ARE ELECTED BY THE CREDIT UNION MEMBERS. |
| FORM 990, PART VI, SECTION B, LINE 11B | RETURN WILL BE PRESENTED TO THE BOARD OF DIRECTORS BY THE CFO. |
| FORM 990, PART VI, SECTION B, LINE 12C | EMPLOYEES AND OFFICERS ARE PROVIDED A CONFLICT OF INTEREST POLICY THAT INSTRUCTS THEM ON WHO TO CONTACT WITH ANY POTENTIAL CONFLICTS. |
| FORM 990, PART VI, SECTION B, LINE 15 | TOP MANAGEMENT COMPENSATION PACKAGES ARE APPROVED BY THE BOARD OF DIRECTORS. KEY AND OTHER EMPLOYEES ARE SET BY MANAGEMENT. |
| FORM 990, PART VI, SECTION C, LINE 19 | FINANCIALS ARE DISPLAYED IN CREDIT UNION BRANCH LOCATIONS AND AT THE ANNUAL MEMBER MEETING WITH THE ANNUAL REPORT. |
| FORM 990 PART X | THERE ARE NO UNCERTAIN TAX LIABILITIES REPORTED UNDER FIN 48(ASC 740-10). |