2021-11-15T16:51:03-06:00 2020-12-31 580692043 MAULDIN & JENKINS LLC 200 GALLERIA PKWY SE STE 1700 ATLANTA GA 303395946 990 2020-01-01 580240950 ASSOCIATED CREDIT UNION ASSO 7704488200 6251 CROOKED CREEK ROAD NORCROSS GA 300923107 TIM G BRIDGES EVP/CFO 7704488200 2021-11-15 1 TIM BRIDGES XXX-XX-XXXX MARY JO ALEXANDER P00002534 7709558600 2021-11-15 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z C LIN HODGES 6251 CROOKED CREEK ROAD NORCROSS GA 300923107 80197434 0 X WWW.ACUONLINE.ORG X CREDIT UNION 1930 GA STATE-CHARTERED CREDIT UNION THAT OFFERS MEMBERS FINANCIAL PRODUCTS THAT FULFILL THEIR NEEDS, SERVICES THAT EXCEED THEIR EXPECTATIONS, AND RELATIONSHIPS THAT INSPIRE THEIR TRUST. 14 13 372 20 0 0 0 0 77458912 76710555 7384029 3486879 0 0 84842941 80197434 60622 60000 0 0 28126672 28838224 0 0 0 42024388 41805974 70211682 70704198 14631259 9493236 1608213998 1871714889 1395689087 1649124158 212524911 222590731 ASSOCIATED CREDIT UNION OFFERS MEMBERS FINANCIAL PRODUCTS THAT FULFILL THEIR NEEDS, SERVICE THAT EXCEEDS THEIR EXPECTATIONS, AND RELATIONSHIPS THAT INSPIRE THEIR TRUST. 0 0 ASSOCIATED CREDIT UNION IS A FULL-SERVICE FINANCIAL INSTITUTION OFFERING A WIDE VARIETY OF PRODUCTS AND SERVICES TO OVER 150,000 MEMBERS IN THE STATE OF GEORGIA. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 1 36676 0 1 372 1 1 1 0 0 0 0 0 0 0 X 14 13 0 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 GA X BETH TYNAN - AVPCONTROLLER 7703682117 6251 CROOKED CREEK ROAD NORCROSS GA 300923107 C LIN HODGES PRES, CEO, DIRECTOR 40.00 X X 825842 0 37871 TIM BRIDGES EXECUTIVE VP/CFO 40.00 X 351045 0 37494 MARK WALLER EVP/COO 40.00 X 351517 0 36105 KARL MANN VP/CIO 40.00 X 244966 0 23968 CHAD EVANS SVP/LENDING 40.00 X 228178 0 15268 HEIWOTE TADESSE SVP, MEMBER RELATIONS 40.00 X 200111 0 19234 JEFFREY BERGUM VP/RETAIL SERVICES 40.00 X 176594 0 28798 TOM MAIELLARO VP/MARKETING 40.00 X 167626 0 28456 TODD CHANDLER AVP/INFORMATION TECHNOLOGY 40.00 X 155555 0 24500 JIM LAFOND VP/RISK MANAGEMENT 40.00 X 150861 0 26245 BETH TYNAN AVP/CONTROLLER 40.00 X 151226 0 17521 MARGARITA L BURTON VP, CARD SERVICES 40.00 X 142812 0 24934 JAMES C BARBRE DIRECTOR 1.00 X 12501 0 0 MIKE COLLINS DIRECTOR 1.00 X 12379 0 0 CHARLES GEHRMANN DIRECTOR 1.00 X 12375 0 0 NANCY J GARNER DIRECTOR 1.00 X 12286 0 0 GEORGE M CLARKE DIRECTOR 1.00 X 12184 0 0 MARGARET L PITTMAN TREASURER 1.00 X X 12160 0 0 DOYLE SPEARS DIRECTOR 1.00 X 12029 0 0 KEITH GETTMANN DIRECTOR 1.00 X 12020 0 0 ALLEN BRYAN DIRECTOR 1.00 X 12000 0 0 EXCEPTIONAL HARDEN DIRECTOR 1.00 X 12000 0 0 JOHN A PETROS DIRECTOR 1.00 X 12000 0 0 TIM F KERCHEVAL DIRECTOR 1.00 X 12000 0 0 JENNIFER H CHAPIN DIRECTOR 1.00 X 11000 0 0 3303267 0 320394 34 0 1 0 NCR 864 SPRING ST NW ATLANTA GA 30308 HOME BANKING VENDOR 2898990 AT&T 208 S AKARD STREET SUITE 2954 DALLAS TX 75202 COMMUNICATIONS SERVICES 909632 KING COMPUTER 2200 NORCROSS PKWY 255 NORCROSS GA 30071 COMPUTER HARDWARE 686142 CONSULTANTS & BUILDERS INC 3100 MEDLOCK BRIDGE ROAD 420 NORCROSS GA 30071 CONSTRUCTION 644948 CDW 75 TRI-STATE INTERNATIONAL LINCOLNSHIRE IL 60069 HARDWARE AND SERVICES 595834 49 INTEREST ON LOANS 522100 48348909 48348909 FEE INCOME 522100 16394680 16394680 OTHER OPERATING INCOME 522100 9299350 9299350 GAIN ON SALE OF MTGE LOANS 522100 2518040 2518040 GAIN ON SALES OF CUSO STOCK 522100 149576 149576 76710555 3313554 3313554 173325 0 173325 173325 173325 80197434 76710555 0 3486879 60000 2724616 18639177 1218000 4690779 1565652 44432 27300 1441269 1485110 5705049 2389213 1446500 115018 455610 6676761 1884870 306719 PROVISION FOR LOAN LOSS 9375000 LOAN SERVICING EXPENSE 5947805 DEBIT CARD SERVICES EXP 2793356 STATEMENT PRINTING 567253 1144709 70704198 15065235 19427532 200650145 537204422 8763000 9356000 1205001032 1150625633 36375553 18440298 17830363 17935255 110040550 82653157 10627698 16681248 40235975 37831642 1608213998 1871714889 16559225 19280356 1379129862 1629843802 1395689087 1649124158 X 0 0 0 0 212524911 222590731 212524911 222590731 1608213998 1871714889 X 9493236 532585 39999 X X 0 1 X 1 0 4634583 4634583 19748573 9406620 10341953 11992397 9033678 2958719 17935255 MEMBER SHARES AND DEPOSITS 1629843802 1629843802 X 80730019 532585 532585 80197434 0 80197434 70704198 0 70704198 0 70704198 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. 0 ASSOCIATED CREDIT UNION FOUNDATION INC 6251 CROOKED CREEK ROAD NORCROSS GA 30092 262834337 501(C)(3) 60000 GENERAL SUPPORT AND OPERATIONS 1 0 X X X 1 1 X X X X 0 1 0 C LIN HODGES PRES, CEO, DIRECTOR 663042 0 162800 0 0 0 22400 0 15471 0 863713 0 0 0 TIM BRIDGES EXECUTIVE VP/CFO 286045 0 65000 0 0 0 22400 0 15094 0 388539 0 0 0 MARK WALLER EVP/COO 286517 0 65000 0 0 0 22400 0 13705 0 387622 0 0 0 KARL MANN VP/CIO 203579 0 41387 0 0 0 8874 0 15094 0 268934 0 0 0 CHAD EVANS SVP/LENDING 185367 0 42811 0 0 0 15268 0 0 0 243446 0 0 0 HEIWOTE TADESSE SVP, MEMBER RELATIONS 161568 0 38543 0 0 0 13261 0 5973 0 219345 0 0 0 JEFFREY BERGUM VP/RETAIL SERVICES 149604 0 26990 0 0 0 12840 0 15958 0 205392 0 0 0 TOM MAIELLARO VP/MARKETING 141103 0 26523 0 0 0 13362 0 15094 0 196082 0 0 0 TODD CHANDLER AVP/INFORMATION TECHNOLOGY 129881 0 25674 0 0 0 9406 0 15094 0 180055 0 0 0 JIM LAFOND VP/RISK MANAGEMENT 125825 0 25036 0 0 0 11151 0 15094 0 177106 0 0 0 BETH TYNAN AVP/CONTROLLER 126890 0 24336 0 0 0 11300 0 6221 0 168747 0 0 0 MARGARITA L BURTON VP, CARD SERVICES 118275 0 24537 0 0 0 9450 0 15484 0 167746 0 0 0 PART I, LINE 4B THE CREDIT UNION MAINTAINS NON-QUALIFIED PENSION PLANS FOR A SELECT GROUP OF MANAGEMENT. PARTICIPANTS ARE ELIGIBLE BASED ON APPROVAL BY THE CREDIT UNION'S BOARD OF DIRECTORS. UNDER THIS PLAN, PARTICIPANTS DEFER A PORTION OF THEIR COMPENSATION. THE DEFERRED COMPENSATION ACCOUNTS ARE SHOWN AS BOTH ASSETS AND LIABILITIES ON THE CREDIT UNION'S FINANCIAL STATEMENTS AND ARE AVAILABLE TO CREDITORS IN THE EVENT OF THE CREDIT UNION'S LIQUIDATION. THE BALANCE OF THE PLAN APPROXIMATED $2,248,000 AND $2,991,000 AS OF DECEMBER 31, 2020 AND 2019, RESPECTIVELY. THE FOLLOWING INDIVIDUALS, REPORTED ON FORM 990 PART VII, HAD CONTRIBUTIONS WITHHELD FROM THEIR COMPENSATION MADE ON THEIR BEHALF INTO THE SEC 457F PLAN BY THE CREDIT UNION: HEIWOTE TADESSE $20,400 THOMAS C. MAIELLARO 15,600 MARGARITA L. BURTON 12,000 JAMES A. LAFOND 32,400 TODD W. CHANDLER 8,400 BETH R. TYNAN 9,600 ERIC PATTERSON 8,400 STEPHEN GANTZ 6,300 ANNIA PEREIRA 8,400 ARBENITA TAFFOLI 7,200 THE CREDIT UNION PROVIDES CERTAIN INDIVIDUALS WITH A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (PLAN). THE PLAN IS BEING FUNDED VIA LIFE INSURANCE POLICIES AND SPLIT DOLLAR LOAN AGREEMENTS HAVE BEEN ENTERED INTO WITH THE PARTICIPANTS OF THE EXECUTIVES COVERED UNDER THE PLAN. AS PART OF THE SPLIT DOLLAR LOAN AGREEMENTS, THE EXECUTIVES HAVE ASSIGNED THE POLICIES TO THE CREDIT UNION AS COLLATERAL. THIS ASSIGNMENT SECURES REPAYMENT OF ANY ADVANCES AND ACCRUED INTEREST FOR THE POLICY PREMIUMS AND ANY OTHER ADVANCES UNDER ANY AGREEMENT. THE LOANS HAVE A FIXED INTEREST RATE, WITH INTEREST ACCRUED MONTHLY AND CAPITALIZED AS PART OF THE TOTAL LOAN BALANCE ANNUALLY. TOTAL SPLIT DOLLAR LOANS AND ACCRUED INTEREST APPROXIMATED $9,356,000 AND $8,763,000 AS OF DECEMBER 31, 2020 AND 2019, RESPECTIVELY. OF THE INDIVIDUALS LISTED ON SCH J THE FOLLOWING PARTICIPATED IN THIS PLAN: CHADWICK J. EVANS JEFFREY S. BERGUM KAREN F. PENNINGTON TODD W. CHANDLER THOMAS C. MAIELLARO MARGARITA L. BURTON ERIC PATTERSON BETH R. TYNAN ANNIA PEREIRA C. LIN HODGES LEAH ELRIDGE KARL R. MANN TIMOTHY G. BRIDGES MARK D. WALLER C LIN HODGES PRESIDENT/CEO SPLIT DOLLAR LIFE INSURANCE X 1125000 2250000 0 1 1 TIMOTHY G BRIDGES EVP/CFO SPLIT DOLLAR LIFE INSURANCE X 500000 1000000 0 1 1 MARK D WALLER EVP/COO SPLIT DOLLAR LIFE INSURANCE X 600000 1000000 0 1 1 KARL R MANN VP/CIO SPLIT DOLLAR LIFE INSURANCE X 480000 800000 0 1 1 THOMAS C MAIELLARO VP, MARKETING SPLIT DOLLAR LIFE INSURANCE X 70000 280000 0 1 1 CHADWICK J EVANS SVP, LENDING SPLIT DOLLAR LIFE INSURANCE X 360000 600000 0 1 1 JEFFERY S BERGUM VP, RETAIL SERVICE SPLIT DOLLAR LIFE INSURANCE X 408000 680000 0 1 1 TODD W CHANDLER AVP, DIGITAL SERVICES SPLIT DOLLAR LIFE INSURANCE X 56000 224000 0 1 1 BETH R TYNAN AVP/CONTROLLER SPLIT DOLLAR LIFE INSURANCE X 58000 232000 0 1 1 ERIC PATTERSON AVP, INDIRECT LENDING SPLIT DOLLAR LIFE INSURANCE X 156000 208000 0 1 1 ANNIA PEREIRA AVP, TRAINING SPLIT DOLLAR LIFE INSURANCE X 162000 216000 0 1 1 LEAH ETHRIDGE AUGUST DIVISION PRESIDENT SPLIT DOLLAR LIFE INSURANCE X 800000 800000 0 1 1 KAREN F PENNINGTON AVP, HUMAN RESOURCE SPLIT DOLLAR LIFE INSURANCE X 549000 610000 0 1 1 MICHAEL J HUFF VP, PROJECT MANAGEMENT SPLIT DOLLAR LIFE INSURANCE X 162000 216000 0 1 1 MARGARITA L BURTON VP, CARD SERVICES SPLIT DOLLAR LIFE INSURANCE X 180000 240000 0 1 1 9356000 FORM 990, PART VI, SECTION A, LINE 6 ASSOCIATED CREDIT UNION IS A STATE-CHARTERED CREDIT UNION WITH 154,119 VOTING MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A ASSOCIATED CREDIT UNION HAS MEMBERS WHO ELECT ONE OR MORE MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD WILL RECEIVE A PDF OF FORM 990. THIS WILL GIVE THEM TIME TO REVIEW AND COMMENT ON THE RETURN. RECOMMENDED CHANGES WILL BE INCORPORATED INTO THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS DIRECTORS AND KEY EMPLOYEES ARE REQUIRED TO SIGN AN OATH AND FILL OUT AN APPLICATION FOR THE GEORGIA DEPARTMENT OF BANKING DECLARING NO CONFLICT OF INTEREST WITH ASSOCIATED CREDIT UNION. ALSO, THROUGH EXTERNAL THIRD PARTY AUDITS AND EXAMINATIONS BY THE DEPARTMENT OF BANKING AND FINANCE OF GEORGIA AND THE NATIONAL CREDIT UNION ADMINISTRATION. FORM 990, PART VI, SECTION B, LINE 15 THE CHAIRMAN OF THE BOARD OR THE PERSONNEL CHAIRMAN APPROVE THE PRESIDENT/CEO COMPENSATION AND BENEFITS. THE CEO APPROVES TOP MANAGEMENT COMPENSATION. DATA IS USED FROM CUES EXECUTIVE REVIEW AND CUNA. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S ANNUAL TAX RETURNS ARE AVAILABLE UPON REQUEST. FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY OF THE MAIN OFFICE AND IN BRANCHES FOR PUBLIC REVIEW. FORM 990, PART XI, LINE 9: NET CHANGE IN THE RESERVE FOR ENTRANCE FEES 39,999. FORM 990 PART XII, LINE 2C THE PROCESS FOR SELECTION OF AUDITORS AND REVIEW OF FINANCIAL STATEMENTS HAS NOT CHANGED FROM THE PRIOR YEAR. THE ASSOCIATED CREDIT UNION FOUNDATION INC 6251 CROOKED CREEK ROAD NORCROSS GA 30092 262834337 CHARITABLE GIVING GA 501(C)(3) LINE 7 ASSOCIATED CREDIT UNION INC 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 ASSOCIATED CREDIT UNION FOUNDATION B 60000 ACTUAL