2020-11-17T12:03:20-06:00 2019-12-31 580692043 MAULDIN & JENKINS LLC 200 GALLERIA PKWY SE STE 1700 ATLANTA GA 303395946 990 2019-01-01 580240950 ASSOCIATED CREDIT UNION ASSO 7704488200 6251 CROOKED CREEK ROAD NORCROSS GA 300923107 TIM G BRIDGES EVP/CFO 7704488200 2020-11-16 1 MARY JO ALEXANDER P00002534 7709558600 2020-11-16 50.192.51.169 2020-11-16 14:23:12 ES P F04B4410F2FAC48F938232FAA1F0926404970B49 40EFD6C15DAA5FDA575BE62F01DD4FED009120DB 2019 2022-01-07 14:23:13Z C LIN HODGES 6251 CROOKED CREEK ROAD NORCROSS GA 300923107 84842941 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 13 406 20 0 0 0 0 71799510 77458912 5963920 7384029 0 0 77763430 84842941 87533 60622 0 0 26060894 28126672 0 0 0 38420780 42024388 64569207 70211682 13194223 14631259 1556679095 1608213998 1360319451 1395689087 196359644 212524911 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 1 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 42830 0 1 406 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 MICHAEL A COLLINS DIRECTOR 1.00 1.00 X 12985 0 0 TIMOTHY F KERCHEVAL DIRECTOR 1.00 1.00 X 11368 0 0 EXCEPTRAL L HARDEN DIRECTOR 1.00 1.00 X 12334 0 0 JAMES C BARBRE III DIRECTOR 1.00 1.00 X 13279 0 0 ALLEN B BRYAN DIRECTOR 1.00 1.00 X 10348 0 0 JENNIFER H CHAPIN DIRECTOR 1.00 1.00 X 5348 0 0 GEORGE M CLARKE DIRECTOR 1.00 1.00 X 12487 0 0 NANCY J GARNER DIRECTOR 1.00 1.00 X 6409 0 0 CHARLES A GEHRMANN DIRECTOR 1.00 1.00 X 12869 0 0 D KEITH GETTMANN DIRECTOR 1.00 1.00 X 12398 0 0 C LIN HODGES PRESIDENT/CEO 40.00 X X 778128 0 28132 JOHN A PETROS DIRECTOR 1.00 1.00 X 11378 0 0 MARGARET L PITTMAN DIRECTOR 1.00 1.00 X 12496 0 0 DOYLE C SPEARS JR DIRECTOR 1.00 1.00 X 12415 0 0 RONALD K FORD DIRECTOR 1.00 1.00 X 0 0 0 TIMOTHY G BRIDGES EVP/CFO 40.00 X 416638 0 25600 MARK D WALLER EVP/COO 40.00 X 402366 0 32013 T GREG CONNOR EVP, LENDING 40.00 X 1033268 0 12536 CHADWICK J EVANS SVP, LENDING 40.00 X 256276 0 15014 HEIWOTE TADESSE SVP, MEMBER RELATIONS 40.00 X 209787 0 27733 MARGARITA L BURTON VP, CARD SERVICES 40.00 X 158074 0 21449 THOMAS C MAIELLARO VP, MARKETING 40.00 X 193593 0 31432 KARL R MANN VP/CIO 40.00 X 276712 0 12435 JEFFREY S BERGUM VP, RETAIL SERVICES 40.00 X 198601 0 31432 JAMES L LAFOND VP, RISK MANAGEMENT 40.00 X 169685 0 44029 TODD W CHANDLER AVP, DIGITAL SERVICES 40.00 X 175655 0 19957 KAREN F PENNINGTON AVP, HUMAN RESOURCES 40.00 X 156298 0 14590 BETH R TYNAN AVP/CONTROLLER 40.00 X 166714 0 18898 4737909 0 335250 31 0 1 0 CONSULTANTS & BUILDERS INC 3100 MEDLOCK BRIDGE ROAD 420 NORCROSS GA 30071 CONSTRUCTION 2947086 NCR 864 SPRING ST NW ATLANTA GA 30308 HOME BANKING VENDOR 1976663 JACK HENRY & ASSOCIATES PO BOX 609 DALLAS TX 75320 DATA PORCESSING VENDOR 1006912 AT&T 208 S AKARD STREET SUITE 2954 DALLAS TX 75202 COMMUNICATIONS SERVICES 773015 KING COMPUTER 2200 NORCROSS PKWY 255 NORCROSS GA 30071 COMPUTER HARDWARE 612095 46 INTEREST ON LOANS 522100 49213952 49213952 FEE INCOME 522100 16746772 16746772 OTHER OPERATING INCOME 522100 10246572 10246572 GAIN ON SALE OF MTGE LOANS 522100 807666 807666 GAIN ON SALES OF CUSO STOCK 522100 443950 443950 77458912 7384029 7384029 84842941 77458912 0 7384029 60622 3931188 17191857 1171000 4292969 1539658 87950 103575 530424 1681388 6008127 2315029 1359048 388550 419371 9225370 1553677 315486 PROVISION FOR LOAN LOSS 7475000 LOAN SERVICING EXPENSE 5924144 DEBIT CARD SERVICES EXP 2933230 STATEMENT PRINTING 595500 1108519 70211682 10914047 15065235 164290859 200650145 5657000 8763000 1170357940 1205001032 34736414 16906051 14579466 17830363 143971951 110040550 3866643 10627698 43041189 40235975 1556679095 1608213998 16354579 16559225 1343964872 1379129862 1360319451 1395689087 X 0 0 0 0 196359644 212524911 196359644 212524911 1556679095 1608213998 X 14631259 1479833 54175 X X 0 1 X 1 0 4634583 4634583 16756678 8544577 8212101 10281501 8361474 1920027 3063652 3063652 17830363 AVAILABLE FOR SALE SECURITIES 110040550 F 110040550 MEMBER SHARES AND DEPOSITS 1379129862 1379129862 X 84842941 0 84842941 0 84842941 70211682 0 70211682 0 70211682 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. HOWEVER, THE CREDIT UNION IS SUBJECT TO UNRELATED BUSINESS INCOME TAX. 0 ASSOCIATED CREDIT UNION FOUNDATION INC 6251 CROOKED CREEK ROAD NORCROSS GA 30092 262834337 501(C)(3) 60622 GENERAL SUPPORT AND OPERATIONS 1 0 X X X 1 1 X X X X 0 1 0 C LIN HODGES PRESIDENT/CEO 601228 0 176900 0 0 0 22400 0 5732 0 806260 0 0 0 TIMOTHY G BRIDGES EVP/CFO 341638 0 75000 0 0 0 22400 0 3200 0 442238 0 0 0 MARK D WALLER EVP/COO 327366 0 75000 0 0 0 22400 0 9613 0 434379 0 0 0 T GREG CONNOR EVP, LENDING 96204 0 0 0 937064 0 11696 0 840 0 1045804 0 937064 0 CHADWICK J EVANS SVP, LENDING 214376 0 41900 0 0 0 14114 0 900 0 271290 0 0 0 HEIWOTE TADESSE SVP, MEMBER RELATIONS 173630 0 36157 0 0 0 27063 0 670 0 237520 0 0 0 MARGARITA L BURTON VP, CARD SERVICES 133073 0 25001 0 0 0 17169 0 4280 0 179523 0 0 0 THOMAS C MAIELLARO VP, MARKETING 164404 0 29189 0 0 0 26077 0 5355 0 225025 0 0 0 KARL R MANN VP/CIO 235437 0 41275 0 0 0 8430 0 4005 0 289147 0 0 0 JEFFREY S BERGUM VP, RETAIL SERVICES 169034 0 29567 0 0 0 26077 0 5355 0 230033 0 0 0 JAMES L LAFOND VP, RISK MANAGEMENT 142785 0 26900 0 0 0 40591 0 3438 0 213714 0 0 0 TODD W CHANDLER AVP, DIGITAL SERVICES 147931 0 27724 0 0 0 16852 0 3105 0 195612 0 0 0 KAREN F PENNINGTON AVP, HUMAN RESOURCES 133085 0 23213 0 0 0 9788 0 4802 0 170888 0 0 0 BETH R TYNAN AVP/CONTROLLER 141328 0 25386 0 0 0 17980 0 918 0 185612 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 $2,991,000 AND $3,280,000 AS OF DECEMBER 31, 2019 AND 2018, RESPECTIVELY. THE FOLLOWING INDIVIDUALS, REPORTED ON FORM 990 PART VII, HAD CONTRIBUTIONS MADE ON THEIR BEHALF INTO THE SEC 457F PLAN BY THE CREDIT UNION: T. GREG CONNOR $4,000 HEIWOTE TADESSE 15,600 THOMAS C. MAIELLARO 13,200 MARGARITA L. BURTON 8,400 MICHAEL J. HUFF 6,000 JEFFREY S. BERGUM 13,200 JAMES A. LAFOND 30,000 TODD W. CHANDLER 6,000 BETH R. TYNAN 6,000 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 $8,763,000 AND $7,325,000 AS OF DECEMBER 31, 2019 AND 2018, 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 BETH R. TYNAN C. LIN HODGES 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 210000 0 1 1 CHADWICK J EVANS SVP, LENDING SPLIT DOLLAR LIFE INSURANCE X 360000 540000 0 1 1 JEFFERY S BERGUM VP, RETAIL SERVICE SPLIT DOLLAR LIFE INSURANCE X 408000 612000 0 1 1 TODD W CHANDLER AVP, DIGITAL SERVICES SPLIT DOLLAR LIFE INSURANCE X 56000 168000 0 1 1 BETH R TYNAN AVP/CONTROLLER SPLIT DOLLAR LIFE INSURANCE X 58000 174000 0 1 1 ERIC PATTERSON AVP, INDIRECT LENDING SPLIT DOLLAR LIFE INSURANCE X 156000 156000 0 1 1 ANNIA PEREIRA AVP, TRAINING SPLIT DOLLAR LIFE INSURANCE X 162000 162000 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 549000 0 1 1 MICHAEL J HUFF VP, PROJECT MANAGEMENT SPLIT DOLLAR LIFE INSURANCE X 162000 162000 0 1 1 MARGARITA L BURTON VP, CARD SERVICES SPLIT DOLLAR LIFE INSURANCE X 180000 180000 0 1 1 8763000 FORM 990, PART VI, SECTION A, LINE 6 ASSOCIATED CREDIT UNION IS A STATE-CHARTERED CREDIT UNION WITH 156,826 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 ENTRANCE FEES 54,175. 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 60622 ACTUAL