2021-11-15T09:50:20-06:00 2020-12-31 461498870 BMSS LLC 1121 RIVERCHASE OFFICE RD BIRMINGHAM AL 35244 990 2020-01-01 630440014 ALABAMA CREDIT UNION ALAB 2054695944 PO BOX 862998 TUSCALOOSA AL 35486 STEPHEN K SWOFFORD PRESIDENT 2053485944 2021-11-10 1 STEPHEN SWOFFORD 999009999 CHERION SIBLEY CPA P00090514 2059825500 2021-11-10 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z STEPHEN K SWOFFORD PO BOX 862998 TUSCALOOSA AL 35486 49785955 0 X WWW.ALABAMACU.COM X 1956 AL TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS 11 11 351 14 1620 0 0 21500 26048637 29639190 6836564 4889372 15726242 14752036 48611443 49302098 0 0 0 0 16173654 17933753 0 0 0 27051841 26142478 43225495 44076231 5385948 5225867 939530884 1170483591 842120747 1063842594 97410137 106640997 TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS 0 0 101,427 MEMBERS SERVED TO PROMOTE THRIFT OPPORTUNITIES AND LOW COST LOANS 0 1 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 1 21161 0 1 351 1 1 1 0 0 0 0 0 0 0 X 11 11 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X ELEANOR M BROWN 2054695944 220 PAUL W BRYANT DRIVE E TUSCALOOSA AL 35401 REBA ESSARY CHAIRPERSON 1.00 X 0 0 0 GLADYS JONES VICE-CHAIRPERSON 1.00 X 0 0 0 CASEY TAYLOR SECRETARY/TREASURER 1.00 X 0 0 0 CHARLOTTE HARRIS DIRECTOR 1.00 X 0 0 0 LYNNE APRIL DIRECTOR 1.00 X 0 0 0 MARK NELSON DIRECTOR 1.00 X 0 0 0 MARCUS JONES DIRECTOR 1.00 X 0 0 0 THOMAS WEST DIRECTOR 1.00 X 0 0 0 ROBERT RILEY DIRECTOR 1.00 X 0 0 0 RON DULEK DIRECTOR 1.00 X 0 0 0 DOUG OVERTON DIRECTOR 1.00 X 0 0 0 MICHAEL GOODMAN CIO 45.00 X 214619 0 22422 JIM PENNINGTON VP, COLLECTIONS 45.00 X 138074 0 21149 STEPHEN K SWOFFORD CEO/PRESIDENT 60.00 X 411006 0 55667 ELEANOR BROWN CFO 45.00 X 199997 0 27663 MICHAEL R SHULTS VP OF INFORMATION SYSTEMS 45.00 X 169277 0 22251 BENSON P BOLLING CHIEF LENDING OFFICER 55.00 X 190416 0 20090 TOMMY COBB SENIOR VP OF BRANCH OPERAT 45.00 X 232721 0 26620 JUNE LANDRUM AVP, BRANCH OPERATIONS 45.00 X 151513 0 21039 ELIZABETH COLE AVP, BRANCH OPERATIONS 45.00 X 124537 0 18910 BRANDI MCKINNEY AVP, HUMAN RESOURCES 55.00 X 135732 0 15499 AJAYKUMAR GUPTA MANAGER, NETWORK SERVICES 45.00 X 126219 0 14403 KELLY PORTER AVP, MARKETING 45.00 X 129621 0 15104 2223732 0 280817 15 0 1 0 LSCU CORP INC PO BOX 380428 BIRMINGHAM AL 352380428 AUDIT/CO-OP SERVICES 1355547 FISERV 225 FISERV DR BROOKFIELD WI 53045 PAYMENT AND FINTECH PROVIDER 1239585 APITURE LLC 1805 TIBURON DRIVE WILMINGTON NC 28403 DIGITAL BANKING SERVICES 1130300 WINDSTREAM SERVICES LLC 4001 NORTH RODNEY PARHAM RD SUITE LITTLE ROCK AR 72212 TELECOMMUNICATIONS 851252 FEDCORP INC 2169 STANTON RD DAPHNE AL 36526 ATM SALES AND SERVICE 453422 23 21500 21500 LOAN INTEREST INCOME 522130 29639190 29639190 29639190 4901651 4901651 601836 601836 31500 0 31500 31500 31500 471578 483857 -12279 -12279 -12279 NSF ACCOUNT CHARGES 522130 5648755 5648755 INTERCHANGE ACCOUNT CHARGES 522130 5488575 5488575 OTHER ACCOUNT AND LOAN FEES 522130 1528616 1528616 1452754 1451134 1620 14118700 49302098 43756270 1620 5522708 1751972 11654830 1226351 2429738 870862 155221 100800 715302 1124071 6152185 1010826 1292551 119355 119206 6491971 1872622 35715 CHECK & LOAN SERVICING 3615924 BAD DEBTS 2071010 OTHER OPERATING EXPENSE 624979 CASH OVER (SHORT) 476038 164702 44076231 19286161 25836243 59079099 138845269 15296901 16797017 584040465 681895077 3387775 4553191 55612000 18973105 33887684 36638895 10181264 15476063 193547933 224806594 152460 598795 372500 372500 20298642 24663947 939530884 1170483591 4254257 6764810 13000000 11000000 824866490 1046077784 842120747 1063842594 X 0 0 0 0 97410137 106640997 97410137 106640997 939530884 1170483591 5225867 4004993 0 X X 0 0 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 12443575 12443575 28776529 7298784 21477745 14391896 11674321 2717575 36638895 GOVERNMENT MORTGAGE SECURITIES 224806594 F 224806594 MEMBER DEPOSITS 1046077784 1046077784 X X X 0 1 0 STEPHEN K SWOFFORD CEO/PRESIDENT 338795 0 10059 0 62152 0 46396 0 9271 0 466673 0 0 0 TOMMY COBB SENIOR VP OF BRANCH OPERAT 188166 0 7390 0 37165 0 19534 0 7086 0 259341 0 0 0 MICHAEL GOODMAN CIO 191010 0 5786 0 17823 0 18899 0 3523 0 237041 0 0 0 ELEANOR BROWN CFO 176482 0 6635 0 16880 0 19645 0 8018 0 227660 0 0 0 BENSON P BOLLING CHIEF LENDING OFFICER 162261 0 8515 0 19640 0 17322 0 2768 0 210506 0 0 0 MICHAEL R SHULTS VP OF INFORMATION SYSTEMS 133080 0 10859 0 25338 0 15117 0 7134 0 191528 0 0 0 JUNE LANDRUM AVP, BRANCH OPERATIONS 131662 0 4579 0 15272 0 13582 0 7457 0 172552 0 0 0 JIM PENNINGTON VP, COLLECTIONS 125450 0 4455 0 8169 0 13461 0 7688 0 159223 0 0 0 BRANDI MCKINNEY AVP, HUMAN RESOURCES 125221 0 5060 0 5451 0 13330 0 2169 0 151231 0 0 0 PART I, LINE 4B THE FOLLOWING OFFICERS PARTICIPATED IN THE NONQUALIFIED RETIREMENT PLAN: STEPHEN SWOFFORD ELEANOR BROWN BENSON BOLLING THOMAS COBB MICHAEL GOODMAN MICHAEL SHULTS JIM PENNINGTON BENSON BOLLING OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 1120000 1120000 0 1 1 ELEANOR BROWN OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 1280000 1280000 0 1 1 JIM PENNINGTON OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 640001 640001 0 1 1 KAY BELL FORMER OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 1760000 1760000 0 1 1 MICHAEL GOODMAN OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 720001 720001 0 1 1 MICHAEL SHULTS OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 1221670 1221670 0 1 1 STEPHEN SWOFFORD OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 6625345 6625345 0 1 1 THOMAS COBB OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 3430000 3430000 0 1 1 16797017 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: 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 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, 2020 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, 2020 ALABAMA CREDIT UNION IS MAKING THE ELECTION TO CAPITALIZE REPAIR AND MAINTENANCE COSTS UNDER REG. SEC. 1.263(A)-3(N). ALABAMA CU SERVICES INC PO BOX 862998 TUSCALOOSA AL 35486 203294739 FINANCIAL SERVICES AL ALABAMA CREDIT UNION C -787 533545 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 ALABAMA CU SERVICES INC R 500000 BOOK VALUE