2020-10-26T17:54:48-05:00 2019-12-31 461498870 BMSS LLC 1121 RIVERCHASE OFFICE RD BIRMINGHAM AL 35244 990 2019-01-01 630355713 CREDIT UNIONS IN THE STATE OF ALABAMA FAMILY SAVINGS CREDIT UNION CRED 2565478190 205 RESCIA AVENUE RAINBOW CITY AL 35906 MONTE HILL CEO 2565478190 2020-10-23 1 D SCOTT STEVENS CPA P00362431 2059825500 24.196.6.133 2020-10-23 08:26:49 CD P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 A21FA6CFF55F76B4386979F8C067D8E81ADFA9A7 2019 2021-04-22 16:20:28Z MONTE HILL 205 RESCIA AVENUE RAINBOW CITY AL 35906 36918045 0 X WWW.FAMILYSAVINGSCU.COM X 1951 AL TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS 7 7 263 10 150736 7665 0 0 17747330 19760331 1029475 736289 15097672 15919430 33874477 36416050 8000 8000 0 0 13044571 13551415 0 0 0 16495863 17556325 29548434 31115740 4326043 5300310 404958311 434577972 357323336 381433490 47634975 53144482 TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS. 0 0 63,889 MEMBERS SERVED TO PROMOTE THRIFT OPPORTUNITIES AND LOW COST LOANS 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 13485 0 1 263 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X DEBBIE GRAY CFO 2565478190 205 RESCIA AVENUE GADSDEN AL 35906 LP WILLIAMSON BOARD CHAIR 2.00 X 8713 0 0 DALE BOYD VICE BOARD CHAIR 2.00 X 0 0 0 HACKY JAGGERS SECRETARY 2.00 X 506 0 0 WALLY BURNS DIRECTOR 2.00 X 0 0 0 RANDEL MOUNTAIN DIRECTOR 2.00 X 0 0 0 RONNIE REED DIRECTOR 2.00 X 0 0 0 JAMES WILKES TREASURER 2.00 X 0 0 0 MONTE J HILL CHIEF EXECUTIVE OFFICER 38.00 X 327961 0 72270 DANNY VARNON EXECUTIVE VICE PRESIDENT 38.00 X 206063 0 59666 DEBORAH GRAY CHIEF FINANCIAL OFFICER 38.00 X 180666 0 58129 ROBERT RAYBURN CHIEF LENDING OFFICER 38.00 X 164429 0 65737 CURTIS LETSON DIRECTOR OF BRANCH OPERATIONS 38.00 X 129152 0 35947 AMY JACKSON MORTGAGE LOAN OFFICER 38.00 X 286606 0 43796 1304096 0 335545 6 0 1 0 VISA DEBIT CARD PROCESSING PO BOX 742233 LOS ANGELES CA 900742233 DEBIT CARD PROCESSOR 1452552 JACK HENRY & ASSOCIATES PO BOX 609 MONETT MO 65708 CORE PROCESSING SYSTEM 743882 BUSINESS DATA INC PO BOX 6081 INGLEWOOD CA 90312 STATEMENT PROCESSORS 459136 AT&T 208 S AKARD ST DALLAS TX 75202 TELEPHONE SERVICES 298242 LENDING SOLUTIONS INC 2200 POINT BOULEVARD ELGIN IL 60123 COLLECTIONS CONSULTANT 259438 13 LOAN INTEREST INCOME 522130 19760331 19760331 19760331 810934 810934 131201 131201 427350 501995 -74645 -74645 -74645 ACCOUNT, LOAN AND INTERCHANGE FEE 522130 13168969 13168969 OTHER OPERATING INCOME 522130 1529471 1529471 NSF/OVERDRAFT FEES 522130 858733 858733 231056 80320 150736 15788229 36416050 35397824 150736 867490 8000 1300020 7783048 578821 3241424 648102 57891 105267 11284 571817 1543963 1496173 492682 107806 252706 2066074 1183090 281492 CHECK AND LOAN SERVICIN 5138055 BAD DEBTS 2565000 REPAIRS AND MAINTENANCE 1426257 DUES AND SUBSCRIPTIONS 121058 135710 31115740 13246945 13192739 21532783 19759459 2369664 2440751 318884341 355044128 2291671 2414799 30789682 15726767 15035517 15062915 14139769 8899473 431806 389637 17025815 17374071 404958311 434577972 4215073 4859223 353108263 376574267 357323336 381433490 X 0 0 0 0 47634975 53144482 47634975 53144482 404958311 434577972 5300310 209197 0 X X 0 0 0 5227232 5227232 12023878 4693056 7330822 1824206 901706 922500 11714366 10132005 1582361 15062915 MEMBER DEPOSITS 376574267 376574267 1 SCHOLARSHIPS FOR STUDENTS ATTENDING COLLEGE 8 8000 PART I, LINE 2: UPON DETERMINING A SCHOLARSHIP RECIPIENT, THE CREDIT UNION VERIFIES THE RECIPIENT'S ENROLLMENT IN COLLEGE BY OBTAINING A COPY OF THE RECIPIENT'S COLLEGE REGISTRATION AND SCHEDULE OF COURSES. AFTER CONFIRMING THE RECIPIENT'S ENROLLMENT, THE CREDIT UNION WILL EITHER MAIL A CHECK DIRECTLY TO THE RECIPIENT'S COLLEGE OR IT WILL PROVIDE A CHECK TO THE RECIPIENT MADE PAYABLE TO THE RECIPIENT'S COLLEGE. X 1 1 X X X 0 1 0 MONTE J HILL CHIEF EXECUTIVE OFFICER 279078 0 48883 0 0 0 45767 0 26503 0 400231 0 0 0 DANNY VARNON EXECUTIVE VICE PRESIDENT 184983 0 21080 0 0 0 30425 0 29241 0 265729 0 0 0 DEBORAH GRAY CHIEF FINANCIAL OFFICER 160011 0 20655 0 0 0 28629 0 29500 0 238795 0 0 0 ROBERT RAYBURN CHIEF LENDING OFFICER 142676 0 21753 0 0 0 41975 0 23762 0 230166 0 0 0 CURTIS LETSON DIRECTOR OF BRANCH OPERATIONS 106048 0 23104 0 0 0 9543 0 26404 0 165099 0 0 0 AMY JACKSON MORTGAGE LOAN OFFICER 285316 0 1290 0 0 0 20302 0 23494 0 330402 0 0 0 PART I, LINE 4B THE FOLLOWING PARTICIPATED IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN: MONTE HILL DANNY VARNON DEBORAH GRAY ROBERT RAYBURN MONTE HILL OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 2200000 2440751 0 1 1 2440751 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS A NOT-FOR-PROFIT FINANCIAL INSTITUTION THAT IS OWNED AND OPERATED BY ITS MEMBERS. IN ORDER TO BECOME A MEMBER OF THE CREDIT UNION, AN INDIVIDUAL MUST LIVE, WORSHIP, WORK (OR REGULARLY CONDUCT BUSINESS), OR ATTEND SCHOOL IN ETOWAH, MARSHALL, DEKALB, JACKSON, CHEROKEE, CALHOUN, CLEBURNE, MADISON, BLOUNT, OR ST. CLAIR COUNTIES IN ALABAMA OR LIVE IN BARTOW, CATOOSA, CHATTOOGA, DADE, FLOYD, GORDON, HARALSON, PAULDING, POLK, OR WALKER COUNTIES IN GEORGIA. BUSINESSES AND OTHER LEGAL ENTITIES LOCATED IN THESE COUNTIES MAY ALSO BE MEMBERS. FAMILY RELATIVES OF MEMBERS, RELATED BY BLOOD, ADOPTION, LEGAL GUARDIANSHIP, OR MARRIAGE TO ANYONE WITHIN FAMILY SAVINGS CREDIT UNION'S FIELD OF MEMBERSHIP MAY ALSO BE MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF FAMILY SAVINGS CREDIT UNION ELECT ITS BOARD OF DIRECTORS AT THEIR ANNUAL MEMBERSHIP MEETING. THE MEMBERS OF THE CREDIT UNION ARE INFORMED OF THE BOARD POSITIONS WHICH ARE UP FOR ELECTION BY THE NOMINATING COMMITTEE. THE MEMBERS THEN PROCEED TO VOTE TO FILL THE OPEN BOARD POSITIONS. IN ORDER FOR A BOARD MEMBER TO BE ELECTED, A QUORUM MUST BE PRESENT AT THE MEETING. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS MUST APPROVE BOARD OF DIRECTOR DECISONS ON MATTERS OF CONVERSION, CHANGES, OR MERGER. 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 CREDIT UNION STAFF REVIEW THE CONFLICT OF INTEREST POLICY, WHICH IS INCLUDED IN THE CREDIT UNION CODE OF CONDUCT, EACH YEAR WITH THE CREDIT UNION'S MANAGER. AT THIS MEETING, THE STAFF MEMBERS ARE FREE TO ASK ANY QUESTIONS REGARDING THIS POLICY. THE CREDIT UNION MANAGER CONSTANTLY MONITORS THE STAFF TO MAKE SURE EVERYONE IS IN COMPLIANCE WITH THE POLICY. IT IS THE RESPONSIBILITY OF STAFF OR DIRECTORS TO IMMEDIATELY NOTIFY THE CREDIT UNION MANAGERS OF ANY POTENTIAL CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR OFFICERS, KEY EMPLOYEES & TOP MANAGEMENT OFFICIALS IS DETERMINED ON A YEARLY BASIS. BEFORE COMPENSATION IS SET, THE BOARD OF DIRECTORS EXAMINES THE TYPE AND AMOUNT OF WORK PERFORMED BY THE EMPLOYEES WHILE TAKING INTO ACCOUNT THE CREDIT UNION'S PRIOR YEAR INCOME. COMPARATIVE INDEPENDENT SALARY SURVEYS ARE AVAILABLE TO THE BOARD DURING THE COMPENSATION PROCESS. 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 THE CREDIT UNION HAS MARCH 31 YEAR END AUDITED FINANCIALS PREPARED BY AN INDEPENDENT CPA. ADDITIONALLY, ON A YEARLY BASIS, THE ALABAMA CREDIT UNION ADMINISTRATION AND SUPERVISORY COMMITTEE EXAMINE THE FINANCIAL STATEMENTS OF THE CREDIT UNION. SECTION 1.263(A)-1(F) DE MINIMIS SAFE HARBOR ELECTION CREDIT UNIONS IN THE STATE OF ALABAMA FAMILY SAVINGS CREDIT UNION 205 RESCIA AVENUE RAINBOW CITY, AL 35906 EMPLOYER IDENTIFICATION NUMBER: 63-0355713 FOR THE YEAR ENDING DECEMBER 31, 2019 CREDIT UNIONS IN THE STATE OF ALABAMA FAMILY SAVINGS 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 CREDIT UNIONS IN THE STATE OF ALABAMA FAMILY SAVINGS CREDIT UNION 205 RESCIA AVENUE RAINBOW CITY, AL 35906 EMPLOYER IDENTIFICATION NUMBER: 63-0355713 FOR THE YEAR ENDING DECEMBER 31, 2019 CREDIT UNIONS IN THE STATE OF ALABAMA FAMILY SAVINGS CREDIT UNION IS MAKING THE ELECTION TO CAPITALIZE REPAIR AND MAINTENANCE COSTS UNDER REG. SEC. 1.263(A)-3(N). FAMILY SAVINGS SERVICES LLC 205 RESCIA AVENUE RAINBOW CITY AL 35906 450480527 FINANCIAL SERVICES AL 379 289637 FAMILY SAVINGS CREDIT UNION