ALABAMA ONE CREDIT UNION: Form 990, tax year 2020
View the entire original 990 at ProPublica ↗
- Organization
- ALABAMA ONE CREDIT UNION (EIN 63-0353833)
- Tax period
- 2020-01-01 to 2020-12-31
- Filed
- 2021-12-22
- IRS object ID
- 202133569349301713
- Schema version
- 2020v4.1
- 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 | 2021-12-22T19:40:07-06:00 | ReturnTs |
| Tax Period End | 2020-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 630813240 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PEARCE BEVILL LEESBURG MOORE PC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 110 OFFICE PARK DR | AddressLine1Txt |
| City | BIRMINGHAM | CityNm |
| State Abbreviation | AL | StateAbbreviationCd |
| ZIP | 35223 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2020-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 630353833 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ALABAMA ONE CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | ALAB | BusinessNameControlTxt |
| Phone | 2057591595 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1215 VETERANS MEMORIAL PARKWAY | AddressLine1Txt |
| City | TUSCALOOSA | CityNm |
| State Abbreviation | AL | StateAbbreviationCd |
| ZIP | 35404 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | SHELBY GRANTHAM | PersonNm |
| Person Title | CONTROLLER | PersonTitleTxt |
| Phone | 2057591595 | PhoneNum |
| Signature | 2021-12-21 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | SHELBY | PersonFirstNm |
| Person Last | GRANTHAM | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | W GLENN BRIDGES JR CPA | PreparerPersonNm |
| PTIN | P00519867 | PTIN |
| Phone | 2053235440 | PhoneNum |
| Preparation | 2021-12-21 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2020 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Amended Return | Yes (X) | AmendedReturnInd |
| Principal Officer | WHITNEY OSWALT | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1215 VETERANS MEMORIAL PARKWAY | AddressLine1Txt |
| City | TUSCALOOSA | CityNm |
| State Abbreviation | AL | StateAbbreviationCd |
| ZIP | 35404 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $36,023,462 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Group Exemption | 1422 | GroupExemptionNum |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.ALABAMAONE.ORG | WebsiteAddressTxt |
| Type Of Organization Other | Yes (X) | TypeOfOrganizationOtherInd |
| Other Organization Dsc | STATE CHARTERED COOPERATIVE CREDIT UNION | OtherOrganizationDsc |
| Formation | 1951 | FormationYr |
| Legal Domicile State | AL | LegalDomicileStateCd |
| Activity Or Mission | COOPERATIVE CREDIT UNION | ActivityOrMissionDesc |
| Voting Members Governing Body | 8 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 8 | VotingMembersIndependentCnt |
| Total Employee | 242 | TotalEmployeeCnt |
| Total Volunteers | 12 | TotalVolunteersCnt |
| Total Gross UBI | $741,086 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $35,348,396 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $36,023,462 | CYProgramServiceRevenueAmt |
| PY Investment Income | $0 | PYInvestmentIncomeAmt |
| CY Investment Income | $0 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $35,348,396 | PYTotalRevenueAmt |
| CY Total Revenue | $36,023,462 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $20,100 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $12,521,094 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $13,031,668 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $17,273,216 | PYOtherExpensesAmt |
| CY Other Expenses | $19,764,490 | CYOtherExpensesAmt |
| PY Total Expenses | $29,794,310 | PYTotalExpensesAmt |
| CY Total Expenses | $32,816,258 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $5,554,086 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $3,207,204 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $630,309,827 | TotalAssetsBOYAmt |
| Total Assets EOY | $798,798,961 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $561,450,522 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $722,195,027 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $68,859,305 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $76,603,934 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | COOPERATIVE SOCIETY INCORPORATED FOR THE TWOFOLD PURPOSE OF PROMOTING THRIFT AMONG ITS MEMBERS AND CREATING A SOURCE OF CREDIT FOR THEM AT LEGITIMATE RATES OF INTEREST. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $32,816,258 | ExpenseAmt |
| Desc | ALABAMA BANKING CODE, SECTION 5-17-1, STATES THAT A CREDIT UNION IS A COOPERATIVE SOCIETY INCORPORATED FOR THE TWOFOLD PURPOSE OF PROMOTING THRIFT AMONG ITS MEMBERS AND CREATING A SOURCE OF CREDIT FOR THEM AT LEGITIMATE RATES OF INTEREST. ALABAMA ONE CREDIT UNION, AN ALABAMA STATE CHARTERED CREDIT UNION, PROVIDES A VARIETY OF FINANCIAL SERVICES TO ITS MEMBERS. THE CREDIT UNION'S MEMBERSHIP IS PRIMARILY COMPRISED OF PERSONS WHO LIVE AND WORK IN TUSCALOOSA COUNTY, ALABAMA AND TWENTY-ONE OTHER COUNTIES THROUGHOUT WEST, CENTRAL, AND SOUTH ALABAMA; EMPLOYEES, RESIDENTS, AND/OR PATIENTS OF VARIOUS MEDICAL PROVIDERS WITHIN THE STATE OF ALABAMA; EMPLOYEES OF THE CREDIT UNION AND OTHER SPECIFIED EMPLOYERS; RETIREES OF ALL AFOREMENTIONED GROUPS; AND SPOUSES, WIDOWS, AND IMMEDIATE FAMILY MEMBERS OF ALL AFOREMENTIONED GROUPS. AS OF DECEMBER 31, 2020, THE CREDIT UNION PROVIDED SERVICES TO APPROXIMATELY 68,602 MEMBERS. | Desc |
| Total Program Service Expenses | $32,816,258 | 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 | Yes (1) | 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 | Yes (1) | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | 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 | Yes (1) | 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 | Yes (1) | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | Yes (1) | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | Yes (1) | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | 0 | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 21317 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 242 | 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 | 8 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 8 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | Yes (1) | 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 | Yes (1) | InvestmentInJointVentureInd |
| Written Policy Or Procedure | Yes (1) | WrittenPolicyOrProcedureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | W WHITNEY OSWALT | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2057591595 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1215 VETERANS MEMORIAL PARKWAY | AddressLine1Txt |
| City | TUSCALOOSA | CityNm |
| State Abbreviation | AL | StateAbbreviationCd |
| ZIP | 35404 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (21 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| RON ABERNATHY | |||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| TAMIKA ALEXANDER | |||||||
| BOARD SECRETARY | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| FRANKLIN BOHANNON | |||||||
| SUPERVISORY COMMITTEE CHAI | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| MARION DODSON | |||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| TOM FANNING | |||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| BARRY MIXON | |||||||
| BOARD MEMBER - VICE CHAIRP | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| LUCY SELLERS | |||||||
| BOARD TREASURER | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| JULIE SMITH | |||||||
| SUPERVISORY COMMITTEE MEMB | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| JONATHAN WALKER | |||||||
| SUPERVISORY COMMITTEE MEMB | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| LOO WHITFIELD | |||||||
| BOARD MEMBER - CHAIRPERSON | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| FRED BRASWELL | |||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| DAVID LOE | |||||||
| SUPERVISORY COMMITTEE MEMB | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| WHITNEY OSWALT | |||||||
| CFO | 40.00 | $224,145 | $0 | $87,283 | Yes (X) | ||
| BILL WELLS | |||||||
| CEO | 40.00 | $436,507 | $0 | $100,660 | Yes (X) | ||
| JASON HALPERIN | |||||||
| CLO | 40.00 | $227,683 | $0 | $117,663 | Yes (X) | ||
| JACK HAM | |||||||
| CCO | 40.00 | $138,099 | $0 | $37,890 | Yes (X) | ||
| SHELBY GRANTHAM | |||||||
| CONTROLLER | 40.00 | $135,979 | $0 | $46,489 | Yes (X) | ||
| MICHAEL BROWN | |||||||
| DIRECTOR OF RETAIL OPERATI | 40.00 | $125,617 | $0 | $53,252 | Yes (X) | ||
| RYAN STALLINGS | |||||||
| SENIOR COMMERCIAL LOAN OFF | 40.00 | $108,881 | $0 | $27,728 | Yes (X) | ||
| ROBERT LONG | |||||||
| CHIEF TECHNOLOGY OFFICER | 40.00 | $161,709 | $0 | $29,423 | Yes (X) | ||
| LINDSEY NANCE | |||||||
| MORTGAGE PRODUCTION SUPERVISOR | 40.00 | $124,208 | $0 | $12,709 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,682,828 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $513,097 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 11 | 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 |
|---|---|---|---|---|---|
| TRISERV | |||||
| 875 OLD ROSWELL RD STE G-300 | ROSWELL | GA | 30076 | APPRAISAL SERVICES | $440,845 |
| NCR CORPORATION | |||||
| 864 SPRING ST NW | ATLANTA | GA | 30308 | ATM/ITM SERVICING | $368,781 |
| THE NEXT BEST THING | |||||
| 2209 9TH STREET 602 | TUSCALOOSA | AL | 35401 | JANITORIAL SERVICES | $366,040 |
| PRINCE GLOVER & HAYES PC | |||||
| 701 RICE MINE RD N | TUSCALOOSA | AL | 35406 | LEGAL SERVICES | $300,000 |
| LSCU SERVICE CORPORTAION INC | |||||
| 22 INVERNESS CENTER PARKWAY STE 200 | BIRMINGHAM | AL | 35242 | CU SERVICE ORGANIZATION | $129,027 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 7 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| LOAN INTEREST INCOME | 522100 | $19,540,163 | $19,540,163 | |
| FINANCIAL SERVICE FEE AND OPERATI | 522100 | $13,810,241 | $13,069,155 | $741,086 |
| INVESTMENT INCOME | 522100 | $2,673,058 | $2,673,058 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $36,023,462 | TotalProgramServiceRevenueAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $36,023,462 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $35,282,376 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $741,086 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $20,100 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,369,930 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,922,586 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $871,714 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,156,441 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $710,997 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $62,675 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $164,495 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $698,539 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $684,268 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,505,552 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,782,975 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $938,634 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $94,132 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $131 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,715,337 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $289,364 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| MEMBER DIVIDEND AND INT | $5,211,386 |
| PROVISION FOR LOAN LOSS | $1,680,000 |
| LOAN SERVICING EXPENSE | $683,135 |
| ASSOCIATION DUES | $101,332 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $152,535 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $32,816,258 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,437,263 | BOYAmt |
| EOY | $14,448,003 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $59,234,838 | BOYAmt |
| EOY | $96,414,212 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $369,970,218 | BOYAmt |
| EOY | $537,871,450 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,135,823 | BOYAmt |
| EOY | $2,211,472 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $29,423,447 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $10,834,901 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,151,882 | BOYAmt |
| EOY | $18,588,546 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $161,716,456 | BOYAmt |
| EOY | $119,038,960 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,663,347 | BOYAmt |
| EOY | $10,226,318 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $630,309,827 | BOYAmt |
| EOY | $798,798,961 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,960,752 | BOYAmt |
| EOY | $7,436,120 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $27,157 | BOYAmt |
| EOY | $28,247 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,494,768 | BOYAmt |
| EOY | $1,809,619 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $553,967,845 | BOYAmt |
| EOY | $712,921,041 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $561,450,522 | BOYAmt |
| EOY | $722,195,027 | 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 | $68,859,305 | BOYAmt |
| EOY | $76,603,934 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $68,859,305 | BOYAmt |
| EOY | $76,603,934 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $630,309,827 | BOYAmt |
| EOY | $798,798,961 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $3,207,204 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $1,848,905 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $2,688,520 | 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 |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (1) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,208,897 | OtherCostOrOtherBasisAmt |
| Book Value | $4,208,897 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $16,090,177 | OtherCostOrOtherBasisAmt |
| Depreciation | $7,231,355 | DepreciationAmt |
| Book Value | $8,858,822 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $9,044,255 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,570,870 | DepreciationAmt |
| Book Value | $5,473,385 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $80,118 | OtherCostOrOtherBasisAmt |
| Depreciation | $32,676 | DepreciationAmt |
| Book Value | $47,442 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $18,588,546 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (7 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| FEDERAL AGENCY SECURITIES | $82,269,924 | F |
| CERTIFICATES OF DEPOSIT | $16,206,026 | C |
| CUSO INVESTMENT | $302,809 | C |
| CORPORATE CREDIT UNION CAPITAL SHARES | $12,568,000 | C |
| CORPORATE AMERICA INVESTMENTS | $5,131,655 | C |
| OTHER CORPORATE ACCOUNTS | $707,745 | C |
| FEDERAL HOME LOAN BANK INVESTMENTS | $1,852,801 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $119,038,960 | TotalBookValueProgramRltdAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| MEMBER SHARES AND CERTIFICATE SHARES | $712,920,026 |
| DIVIDENDS PAYABLE | $1,015 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $712,921,041 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $36,023,462 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $36,023,462 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $36,023,462 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $32,816,258 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $32,816,258 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $32,816,258 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | THE CREDIT UNION ACCEPTS AND MAINTAINS ESCROW PAYMENTS TO PAY ANNUAL TAXES AND INSURANCE ON MEMBER BORROWER MORTGAGE LOANS. |
| PART X, LINE 2: | THE FIN 48 FOOTNOTE INCLUDED IN THE CREDIT UNION'S DECEMBER 31, 2020 AUDITED FINANCIAL STATEMENTS IS AS FOLLOWS: THE CREDIT UNION IS EXEMPT, BY STATUTES, FROM MOST FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION FILES A FEDERAL FORM 990 AND HAS A DECEMBER 31, TAX YEAR END. THE STATE OF ALABAMA IMPOSES A 6.5% EXCISE TAX ON THE TAXABLE INCOME OF STATE-CHARTERED CREDIT UNIONS AS OF DECEMBER 31, EACH TAX YEAR. THE CREDIT UNION HAS ASSESSED ITS ACTIVITIES AND ANY POTENTIAL FEDERAL INCOME TAX LIABILITY BASED ON THE GUIDANCE FROM THE PROVISIONS OF FASB ASC 740, INCOME TAXES, ASSOCIATED WITH UNCERTAINTY IN INCOME TAX POSITIONS. MANAGEMENT BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR THE INCOME TAX POSITIONS TAKEN AND TO BE TAKEN ON ITS TAX RETURNS BASED ON AN ASSESSMENT OF MANY FACTORS INCLUDING EXPERIENCE AND INTERPRETATIONS OF TAX LAWS APPLIED TO THE FACTS OF EACH MATTER. THE CREDIT UNION HAS CONCLUDED THAT THERE ARE NO SIGNIFICANT UNCERTAIN TAX POSITIONS REQUIRING DISCLOSURE, AND THERE ARE NO MATERIAL AMOUNTS OF UNRECOGNIZED TAX BENEFITS REQUIRING RECOGNITION IN THE FINANCIAL STATEMENTS. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES, AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY ARISING FROM FEDERAL TAXATION OF ACTIVITIES DEEMED TO BE UNRELATED TO ITS EXEMPT PURPOSES AND ANY POTENTIAL ADDITIONAL LIABILITY RESULTING FROM THE TAXING AUTHORITIES IMPOSING TAXES, PENALTIES, AND INTEREST ON THE TAXES DUE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. CURRENTLY, THE 2019, 2018, AND 2017 FEDERAL TAX RETURNS ARE OPEN FOR EXAMINATION BY THE IRS. THE ALABAMA DEPARTMENT OF REVENUE IS QUESTIONING SOME ALABAMA STATE-CHARTERED CREDIT UNIONS, INCLUDING ALABAMA ONE CREDIT UNION, REGARDING CERTAIN DEDUCTIONS TAKEN FOR ALABAMA EXCISE TAX PURPOSES. SUBSEQUENT TO DECEMBER 31, 2020, THE ALABAMA STATE LEGISLATURE PASSED LEGISLATION THAT, IN THE OPINION OF MANAGEMENT, SUBSTANTIATES THE CREDIT UNION'S CURRENT RESERVE METHODOLOGIES AND TAX POSITION. MANAGEMENT DOES NOT ANTICIPATE ANY TAX LIABILITIES OR PENALTIES RELATED TO THIS INQUIRY. |
| PARTS XI AND XII: | ON AN ANNUAL BASIS, THE ALABAMA CREDIT UNION ADMINISTRATION AND/OR THE NATIONAL CREDIT UNION ADMINISTRATION PERFORM A REGULATORY EXAMINATION OF THE FINANCIAL STATEMENTS AND SAFETY AND SOUNDNESS OF THE CREDIT UNION. ADDITIONALLY, THE CREDIT UNION'S FINANCIAL STATEMENTS ARE AUDITED BY AN INDEPENDENT ACCOUNTANT AS OF DECEMBER 31 EACH YEAR IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUTING PRINCIPLES FOR DEPOSITORY AND LENDING FINANCIAL INSTITUTIONS. AS A LENDING AND DEPOSIT-TAKING FINANCIAL INSTITUTION, THE CREDIT UNION IS NOT REQUIRED TO PREPARE ITS FINANCIAL STATEMENTS IN ACCORDANCE WITH SFAS 117. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable
Recipient Business Name RecipientBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ALABAMA ONE ASPIRE FOUNDATION | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1215 VETERANS MEMORIAL PARKWAY | AddressLine1Txt |
| City | TUSCALOOSA | CityNm |
| State Abbreviation | AL | StateAbbreviationCd |
| ZIP | 35404 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient EIN | 843427199 | RecipientEIN |
| IRC Section | 501(C)(3) | IRCSectionDesc |
| Cash Grant | $20,100 | CashGrantAmt |
| Valuation Method Used | CASH | ValuationMethodUsedDesc |
| Purpose Of Grant | DONATIONS TO SPONSOR AO ASPIRE'S MISSION. | PurposeOfGrantTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 1 | Total501c3OrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | AOCU MADE DONATIONS TO AO ASPIRE IN 2020. AOCU IS AO ASPIRE'S CONTROLLING ENTITY, AND HAS DIRECT CONTROL OVER THE USE OF THE FUNDS. | 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 |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| 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 (7 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| BILL WELLS | ||||||||||||||
| CEO | $345,143 | $0 | $90,000 | $0 | $1,364 | $0 | $82,325 | $0 | $18,335 | $0 | $537,167 | $0 | $0 | $0 |
| JASON HALPERIN | ||||||||||||||
| CLO | $189,167 | $0 | $38,516 | $0 | $0 | $0 | $98,534 | $0 | $19,129 | $0 | $345,346 | $0 | $0 | $0 |
| WHITNEY OSWALT | ||||||||||||||
| CFO | $184,896 | $0 | $38,514 | $0 | $735 | $0 | $69,842 | $0 | $17,441 | $0 | $311,428 | $0 | $0 | $0 |
| ROBERT LONG | ||||||||||||||
| CHIEF TECHNOLOGY OFFICER | $139,080 | $0 | $22,021 | $0 | $608 | $0 | $15,606 | $0 | $13,817 | $0 | $191,132 | $0 | $0 | $0 |
| SHELBY GRANTHAM | ||||||||||||||
| CONTROLLER | $116,461 | $0 | $18,572 | $0 | $946 | $0 | $33,188 | $0 | $13,301 | $0 | $182,468 | $0 | $0 | $0 |
| MICHAEL BROWN | ||||||||||||||
| DIRECTOR OF RETAIL OPERATI | $107,024 | $0 | $18,041 | $0 | $552 | $0 | $32,593 | $0 | $20,659 | $0 | $178,869 | $0 | $0 | $0 |
| JACK HAM | ||||||||||||||
| CCO | $136,948 | $0 | $593 | $0 | $558 | $0 | $20,759 | $0 | $17,131 | $0 | $175,989 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 1A | THE CREDIT UNION'S TRAVEL POLICY ALLOWS DIRECTORS, SVC MEMBERS, AND EMPLOYEES TO BRING SPOUSES (AND IN SOME CASES, CHILDREN) WHEN TRAVELING ON CREDIT UNION BUSINESS AND BE REIMBURSED FOR THEIR REASONABLE TRAVEL COSTS. THIS POLICY WAS IN PLACE DURING 2020, BUT NO TRAVEL EXPENSES WERE INCURRED DUE TO THE COVID-19 PANDEMIC. |
| PART I, LINE 1B | THE BOARD OF DIRECTORS APPROVES TRAVEL EACH YEAR FOR ANY BOARD MEMBER OR OFFICER OF THE CREDIT UNION AND IF A SPOUSE WILL BE PERMITTED TO TRAVEL. ALL EXPENSES ARE REVIEWED BY THE BOARD. |
| PART I, LINE 3 | MANAGEMENT'S COMPENSATION IS DETERMINED ANNUALLY BY THE CREDIT UNION'S BOARD OF DIRECTORS AND IS BASED ON PERFORMANCE AND INDEPENDENT COMPARABLE INDUSTRY COMPENSATION DATA. |
| PART I, LINE 4B | AS OF APRIL 1, 2018, THE CREDIT UNION ADOPTED THE ALABAMA ONE CREDIT UNION 457(F) DISCRETIONARY CONTRIBUTION PLAN. THE PLAN IS INTENDED TO BE A NON-QUALIFIED INELIGIBLE DEFERRED COMPENSATION PLAN WITHIN THE MEANING OF SECTION 457(F) OF THE INTERNAL REVENUE CODE. THE PURPOSE OF THE PLAN IS TO 1) ALLOW PARTICIPANTS AN OPPORTUNITY TO ELECT TO DEFER THE RECEIPT OF COMPENSATION (PARTICIPANT COMPENSATION DEFERRAL), AND 2) PROVIDE A VEHICLE FOR THE CREDIT UNION TO CREDIT AMOUNTS ON A TAX DEFERRED BASIS FOR EMPLOYEE PARTICIPANTS ( EMPLOYER CONTRIBUTION CREDIT). THE AMOUNT OF ANNUAL CONTRIBUTIONS TO A PARTICIPANT'S ACCOUNT IS SUBJECT TO IRS LIMITATIONS AS DEFINED IN THE PLAN. PARTICIPANT ACCOUNTS ARE 100% VESTED AFTER A PERIOD OF 5 YEARS IN ANY AMOUNTS CREDITED TO THEIR ACCOUNT. EACH PARTICIPANTS ACCOUNT WILL BE ADJUSTED FOR CREDITED INTEREST OR INCREASES OR DECREASES IN THE REALIZABLE NET ASSET VALUE, AS APPLICABLE, OF THE DESIGNATED DEEMED PLAN INVESTMENTS. 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 457(F) DEFERRED COMPENSATION ARRANGEMENT WAS $624,372 AND $325,195 AS OF DECEMBER 31, 2020 AND 2019, RESPECTIVELY. |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp (2 entries)
| Relationship DescriptionRelationshipDescriptionTxt | TransactionTransactionAmt | TransactionTransactionDesc | Sharing Of RevenuesSharingOfRevenuesInd |
|---|---|---|---|
| ROBERT LONG | |||
| ROBERT LONG IS AOCU'S CHIEF TECHNOLOGY OFFICER | $1,000 | ROBERT LONG OWNS THE PROJECT MANAGEMENT RESOURCES, INC CORPORATION, WHICH IS A 29.41% PARTNER IN THE VULCAN DATACORP, LLC PARTNERSHIP IN WHICH THE CREDIT UNION IS A 67.4% PARTNER. DURING 2020, AOCU MADE CAPITAL CONTRIBUTIONS TO VULCAN DATACORP OF $1,000. | 0 |
| ROBERT LONG | |||
| ROBERT LONG IS AOCU'S CHIEF TECHNOLOGY OFFICER | $17,500 | ROBERT LONG IS A 50% PARTNER IN THE VIRO HOLDINGS, LLC PARTNERSHIP, WHICH WAS A 49% PARTNER IN THE ARGESI, LLC PARTNERSHIP IN WHICH THE CREDIT UNION WAS A 51% PARTNER. ARGESI, LLC WAS TERMINATED DURING 2020. DURING 2020, ARGESI PROVIDED CONSULTING IT SERVICES TO AOCU AND ITS SUBSIDIARIES IN THE AMOUNT OF $17,500. | 0 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (12 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 4 | THE BOARD OF DIRECTORS OF ALABAMA ONE CREDIT UNION VOTED TO AMEND AOCU'S BYLAWS IN A REGULAR BOARD MEETING ON JUNE 24, 2020. THE ADMINISTRATOR OF THE ALABAMA CREDIT UNION ADMINISTRATION APPROVED THE AMENDED BYLAWS ON JULY 2, 2020. REPORTABLE CHANGES ARE AS FOLLOWS: ARTICLE IV MEETING OF MEMBERS SEC 4(B): SECTION AMENDED TO REDUCE THE MINIMUM NUMBER OF MEMBER SIGNATURES NECESSARY ON A WRITTEN REQUEST FOR THE BOARD OF DIRECTORS TO CALL A SPECIAL MEMBERSHIP MEETING FROM 10% TO THE GREATER OF 25 MEMBERS OR 2%. SEC 6: SECTION AMENDED TO CHANGE THE NUMBER OF MEMBERS CONSTITUTING A QUORUM AT ANNUAL OR SPECIAL MEETINGS FROM 5% OF MEMBERSHIP TO 20 MEMBERS. ARTICLE IX SUPERVISORY COMMITTEE SEC 1: SECTION AMENDED TO CHANGE THE NUMBER OF POSITIONS ON THE SUPERVISORY COMMITTEE FROM "THREE" TO "A MINIMUM OF THREE." |
| FORM 990, PART VI, SECTION A, LINE 6 | ALABAMA BANKING CODE, SECTION 5-17-5 STATES THAT, "CREDIT UNION MEMBERSHIP SHALL CONSIST OF THE INCORPORATORS AND SUCH OTHER PERSONS AS MAY BE ELECTED TO MEMBERSHIP AND WHO SUBSCRIBE TO AT LEAST ONE SHARE AND PAY THE INITIAL INSTALLMENT THEREON AND THE ENTRANCE FEE. ORGANIZATIONS, INCORPORATED OR OTHERWISE, COMPOSED FOR THE MOST PART OF THE SAME GENERAL GROUP AS THE CREDIT UNION MEMBERSHIP MAY BE MEMBERS. CREDIT UNION ORGANIZATION SHALL BE LIMITED TO GROUPS, OF BOTH LARGE AND SMALL MEMBERSHIP, HAVING A COMMON BOND OF OCCUPATION OR ASSOCIATION OR TO GROUPS WITHIN A WELL- DEFINED NEIGHBORHOOD, COMMUNITY OR RURAL DISTRICT." THE CREDIT UNION'S MEMBERSHIP IS PRIMARILY COMPRISED OF PERSONS WHO LIVE AND WORK IN TUSCALOOSA COUNTY, ALABAMA AND TWENTY-ONE OTHER COUNTIES THROUGHOUT WEST, CENTRAL, AND SOUTH ALABAMA; EMPLOYEES, RESIDENTS, AND/OR PATIENTS OF VARIOUS MEDICAL PROVIDERS WITHIN THE STATE OF ALABAMA; EMPLOYEES OF THE CREDIT UNION AND OTHER SPECIFIED EMPLOYERS; RETIREES OF ALL AFOREMENTIONED GROUPS; AND SPOUSES, WIDOWS, AND IMMEDIATE FAMILY MEMBERS OF ALL AFOREMENTIONED GROUPS. AS OF DECEMBER 31, 2020, THE CREDIT UNION PROVIDED SERVICES TO APPROXIMATELY 68,602 MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE CREDIT UNION'S BYLAWS GOVERN THE ELECTION PROCEDURES. THE BOARD OF DIRECTORS ARE ELECTED BY THE CREDIT UNION'S MEMBERSHIP AT THE ANNUAL MEETING. THE TERMS OF THE BOARD OF DIRECTORS, AS SET BY THE BYLAWS, ARE 3 YEARS AND ARE STAGGERED SO THAT AN EQUAL NUMBER EXPIRE AT EACH ANNUAL MEETING. PRIOR TO THE ANNUAL MEETING, THE BOARD CHAIRMAN APPOINTS A NOMINATING COMMITTEE TO NOMINATE A CANDIDATE FOR EACH VACANCY. UNDER NO CIRCUMSTANCES MAY NOMINATIONS BE CALLED FOR FROM THE FLOOR. ELECTION BY THE MEMBERSHIP IS PERFORMED THROUGH MAIL AND IN-PERSON BALLOTS, UNLESS THERE IS ONLY ONE NOMINEE. ALL BALLOTING IS CLOSED AT THE COMMENCEMENT OF THE ANNUAL MEETING, WHEREUPON THE VOTES ARE TALLIED AND RESULTS ARE ANNOUNCED. ALL ELECTIONS ARE DETERMINED BY A PLURALITY VOTE. PROXY VOTING IS NOT ALLOWED. NO MEMBERS SHALL HAVE MORE THAN ONE VOTE. MEMBERS MUST BE AT LEAST NINETEEN YEARS OF AGE TO PARTICIPATE IN ELECTIONS OR HOLD ELECTED AND/OR APPOINTED POSITIONS. |
| FORM 990, PART VI, SECTION A, LINE 7B | THE FOLLOWING TYPES OF DECISIONS ARE SUBJECT TO APPROVAL BY THE CREDIT UNION'S MEMBERS: DISSOLUTION AND MERGER DECISIONS, ELECTION AND TERMINATION OF BOARD MEMBERS, ELECTION AND TERMINATION OF SUPERVISORY COMMITTEE MEMBERS, AND CONVERSION FROM STATE TO FEDERAL CHARTER. |
| FORM 990, PART VI, SECTION B, LINE 11B | MANAGEMENT PERFORMS A REVIEW OF THE FORM 990 AND 990-T PRIOR TO FILING. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE CREDIT UNION HAS A CONFLICT OF INTEREST POLICY. IT IS THE POLICY OF THE CREDIT UNION TO PROHIBIT ANY EMPLOYEE OR INSIDER FROM ENGAGING IN ANY ACTIVITY THAT CONFLICTS WITH THE INTERESTS OF THE CREDIT UNION OR ITS MEMBERS. EACH SITUATION IS HANDLED ON A CASE BY CASE BASIS BY THE BOARD OF DIRECTORS, AND IF NECESSARY, OTHERS AS DETERMINED BY THE BOARD OF DIRECTORS. IF THE SITUATION INVOLVES A MEMBER OF THE BOARD OF DIRECTORS, THAT MEMBER SHALL RECUSE HIMSELF OR HERSELF FROM THE DECISION REGARDING THE CONFLICT AND/OR ENTRY INTO A LOAN OR OTHER CONTRACT WITH THE CONFLICTED PARTY. ALL EXISTING AND POTENTIAL CONFLICTS OF INTEREST SHALL BE BROUGHT TO THE ATTENTION OF THE BOARD OF DIRECTORS PRIOR TO APPROVING LOANS OR OTHER TRANSACTIONS INCLUDING, BUT NOT LIMITED TO, THE PAYMENT OF PROFESSIONAL FEES, OR OTHER FEES FOR SERVICES RENDERED OR THE ENTRY BY THE CREDIT UNION INTO ANY VENDOR CONTRACT IN WHICH OFFICERS, DIRECTORS, EMPLOYEES AND OTHER INSIDERS ARE INVOLVED. EACH MEMBER OF THE BOARD SHALL BE APPRISED OF ANY POTENTIAL OR EXISTING CONFLICT PRIOR TO MAKING A DECISION OR ACTING SPECIFICALLY ON ANY LOAN OR OTHER TRANSACTION IN WHICH INSIDERS AND/OR THEIR BUSINESS ASSOCIATES ARE INVOLVED DIRECTLY OR INDIRECTLY. TO IDENTIFY ANY AND ALL ACTUAL OR POTENTIAL CONFLICTS OF INTEREST, EACH INSIDER ARE REQUIRED TO SIGN A CONFLICT OF INTEREST AGREEMENT AND PROVIDE AN ANNUAL ACKNOWLEDGMENT (ON OR BEFORE JANUARY 15 OF EACH YEAR) OF HIS/HER UNDERSTANDING OF AND COMPLIANCE WITH THE APPLICABLE LAWS, THE CREDIT UNION'S CONFLICT OF INTEREST, GIFTS, AND BRIBES, KICKBACKS AND OTHER ILLEGAL PAYMENTS POLICIES. ALL NEW EMPLOYEES OR OTHER INSIDERS ARE REQUIRED TO SIGN THE CONFLICT OF INTEREST AGREEMENT PRIOR TO EMPLOYMENT, SERVICE, OR ASSOCIATION AND BE REQUIRED TO PROVIDE THE ANNUAL ACKNOWLEDGEMENT (BY JANUARY 15 OF EACH YEAR) AS WELL. THE HUMAN RESOURCES DIRECTOR IS RESPONSIBLE FOR OBTAINING AND MAINTAINING ALL AGREEMENTS AND ANNUAL ACKNOWLEDGEMENT STATEMENTS FROM ALL OFFICERS, DIRECTORS, COMMITTEE MEMBERS, MANAGERS, EMPLOYEES AND OTHER INSIDERS. EACH CREDIT UNION INSIDER SHALL ALSO DISCLOSE ALL CONFLICTS OF INTEREST AND ALL POTENTIAL CONFLICTS OF INTEREST, INCLUDING THOSE IN WHICH THEY ARE INADVERTENTLY PLACED DUE TO A BUSINESS OR PERSONAL RELATIONSHIP WITH ANY MEMBER, SUPPLIER, BUSINESS ASSOCIATE, OR COMPETITOR OF THE CREDIT UNION, OR ANY OTHER ENTITY WITH WHICH THE CREDIT UNION DOES BUSINESS. |
| FORM 990, PART VI, SECTION B, LINE 15 | MANAGEMENT'S COMPENSATION IS DETERMINED ANNUALLY BY THE CREDIT UNION'S BOARD OF DIRECTORS AND IS BASED ON PERFORMANCE AND INDEPENDENT COMPARABLE INDUSTRY COMPENSATION DATA. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE CREDIT UNION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. THE CREDIT UNION'S FINANCIAL STATEMENTS CAN BE FOUND ON THE WEBSITE OF THE NCUA AT WWW.NCUA.GOV. |
| FORM 990, PART XI, LINE 9: | EQUITY ACQUIRED IN MERGER 2,688,520. |
| FORM 990, PART XII, LINE 2B: | ON AN ANNUAL BASIS, THE ALABAMA CREDIT UNION ADMINISTRATION AND/OR THE NATIONAL CREDIT UNION ADMINISTRATION PERFORM A REGULATORY EXAMINATION OF THE FINANCIAL STATEMENTS AND SAFETY AND SOUNDNESS OF THE CREDIT UNION. ADDITIONALLY, THE CREDIT UNION'S FINANCIAL STATEMENTS ARE AUDITED BY AN INDEPENDENT ACCOUNTANT AS OF DECEMBER 31 EACH YEAR. |
| FORM 990, PART XII, LINE 2C: | THE CREDIT UNION'S HAS A SUPERVISORY COMMITTEE THAT IS RESPONSIBLE FOR ENSURING THAT THE BOARD OF DIRECTORS AND MANAGEMENT OF THE CREDIT UNION - (1) MEET REQUIRED FINANCIAL REPORTING OBJECTIVES, AND (2) ESTABLISH PRACTICES AND PROCEDURES SUFFICIENT TO SAFEGUARD MEMBERS' ASSETS. THIS INCLUDES OVERSEEING THE ANNUAL FINANCIAL STATEMENT AUDIT AND THE SELECTION OF THE INDEPENDENT ACCOUNTANT. |
| FORM 990, ITEM B | THE 2020 FORM 990-T IS BEING AMENDED TO INCLUDE INCOME FROM A 1065 K-1 THAT WAS NOT RECEIVED BY THE CREDIT UNION UNTIL AFTER THE EXTENDED DUE DATE OF THE 2020 990 AND 990-T. EXPLANATION OF THE CHANGES TO THE 2020 FORM 990-T ARE INCLUDED IN PART V OF THE AMENDED FORM 990-T, PER THE INSTRUCTIONS TO THE FORM. THE 2020 FORM 990 IS BEING AMENDED TO REFLECT THE FOLLOWING CHANGES CAUSED BY THE AMENDED 990-T. FORM 990, PART VIII STATEMENT OF REVENUE, LINE 2B, COLUMN C - THE AMOUNT OF UNRELATED BUSINESS REVENUE INCREASED FROM $731,852 TO $741,086, TO REFLECT THE $9,234 OF K-1 INCOME ADDED TO THE FORM 990-T. FORM 990, PART VIII STATEMENT OF REVENUE, LINE 2B, COLUMN B - THE AMOUNT OF RELATED OR EXEMPT FUNCTION REVENUE DECREASED FROM $13,078,389 TO $13,069,155, TO REFLECT THE RECLASSIFICATION OF THE $9,234 OF K-1 INCOME TO THE FORM 990-T. FORM 990, SCHEDULE O - UPDATED TO INCLUDE THIS DESCRIPTION. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Total IncomeTotalIncomeAmt | End Of Year AssetsEndOfYearAssetsAmt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt |
|---|---|---|---|---|---|---|---|---|---|
| AOCU HOLDINGS LLC | |||||||||
| 2115 11TH STREET | TUSCALOOSA | AL | 35401 | 811605657 | TO HOLD CERTAIN OPERATING OREO PROPERTIES | AL | $0 | $108,518 | ALABAMA ONE CREDIT UNION |
| ALABAMA ONE AGENCY LLC | |||||||||
| 1215 VETERANS MEMORIAL PKWY STE 205 | TUSCALOOSA | AL | 35404 | 822280788 | TO PROVIDE INSURANCE SERVICES | AL | $255,506 | $267,610 | ALABAMA ONE CREDIT UNION |
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ALABAMA ONE ASPIRE FOUNDATION | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1215 VETERANS MEMORIAL PARKWAY | AddressLine1Txt |
| City | TUSCALOOSA | CityNm |
| State Abbreviation | AL | StateAbbreviationCd |
| ZIP | 35404 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 843427199 | EIN |
| Primary Activities | FINANCIAL WELLNESS AND OPERATION CREDIT UNION CHRISTMAS | PrimaryActivitiesTxt |
| Legal Domicile State | AL | LegalDomicileStateCd |
| Exempt Code Section | 501(C)(3) | ExemptCodeSectionTxt |
| Public Charity Status | 170(B)(1)(A)(VI) | PublicCharityStatusTxt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ALABAMA ONE CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Controlled Organization | 0 | ControlledOrganizationInd |
Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Predominant Income TypePredominantIncomeTypeTxt | Share Of Total IncomeShareOfTotalIncomeAmt | Disproportionate AllocationsDisproportionateAllocationsInd | General Or Managing PartnerGeneralOrManagingPartnerInd | OwnershipOwnershipPct | Share Of EOY AssetsShareOfEOYAssetsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ARGESI LLC | |||||||||||||
| 1215 VETERANS MEMORIAL PKWY STE 207 | TUSCALOOSA | AL | 35404 | 823544080 | IT CONSULTING | AL | ALABAMA ONE CREDIT UNION | UNRELATED | $37,036 | 0 | Yes (1) | 0.51000 | |
| VULCAN DATACORP LLC | |||||||||||||
| 1215 VETERANS MEMORIAL PKWY STE 207 | TUSCALOOSA | AL | 35404 | 844695988 | IT CONSULTING | AL | ALABAMA ONE CREDIT UNION | UNRELATED | -$211 | 0 | Yes (1) | 0.64700 | $65,136 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | Yes (1) | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | Yes (1) | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (2 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| ARGESI LLC | ||
| B | $79,211 | CASH |
| ARGESI LLC | ||
| F | $104,382 | CASH |