2019-11-13T11:09:23-06:00 2018-12-31 461498870 BMSS LLC 1121 RIVERCHASE OFFICE RD BIRMINGHAM AL 35244 990 2018-01-01 630440014 ALABAMA CREDIT UNION ALAB 2053485944 PO BOX 862998 TUSCALOOSA AL 35486 STEPHEN K SWOFFORD PRESIDENT 2053485944 2019-10-31 1 D SCOTT STEVENS CPA P00362431 2059825500 2019-10-31 74.254.230.2 2019-10-31 08:39:09 CD P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 A903DFD557D6FD5BA5E8C4CB8FDA4834A74E4319 2018 2020-03-31 21:24:44Z STEPHEN K SWOFFORD PO BOX 862998 TUSCALOOSA AL 35486 58857612 0 X WWW.ALABAMACU.COM X 1956 AL TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS 11 11 311 14 2332 -7102 7000 0 15986845 21046468 8762738 7885459 11811151 14806451 36567734 43738378 0 0 0 0 11938064 15244009 0 0 0 18045428 23251212 29983492 38495221 6584242 5243157 776285772 876272368 696626541 787581879 79659231 88690489 TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS 0 0 86,974 MEMBERS SERVED TO PROMOTE THRIFT OPPORTUNITIES AND LOW COST LOANS 0 0 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 0 0 1 17474 0 1 311 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 2053485944 220 PAUL W BRYANT DRIVE E TUSCALOOSA AL 35401 THOMAS WEST DIRECTOR 1.00 X 0 0 0 CHARLOTTE HARRIS DIRECTOR 1.00 X 0 0 0 GLADYS JONES VICE-CHAIRPERSON 1.00 X 0 0 0 LYNNE APRIL DIRECTOR 1.00 X 0 0 0 CASEY TAYLOR SECRETARY/TREASURER 1.00 X 0 0 0 MARK NELSON DIRECTOR 1.00 X 0 0 0 MARCUS JONES DIRECTOR 1.00 X 0 0 0 REBA ESSARY CHAIRPERSON 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 40.00 X 198557 0 19874 KAY M BELL COO 40.00 X 176969 0 23250 JIM PENNINGTON VP, COLLECTIONS 40.00 X 134845 0 19495 STEPHEN K SWOFFORD CEO/PRESIDENT 40.00 X 495955 0 43949 ELEANOR BROWN CFO 40.00 X 194681 0 37457 MICHAEL R SHULTS VP OF INFORMATION SYSTEMS 40.00 X 175663 0 20545 BENSON P BOLLING CHIEF LENDING OFFICER 40.00 X 181947 0 13135 TOMMY COBB SENIOR VP OF BRANCH OPERATIONS 40.00 X 167928 0 25691 JUNE LANDRUM AVP, BRANCH OPERATIONS 40.00 X 130847 0 20972 ELIZABETH COLE AVP, BRANCH OPERATIONS 40.00 X 130065 0 18155 JENNIFER BEATTY FINANCIAL SERVICES REP. 40.00 X 103332 0 16647 THEDA ZUCKERMAN SENIOR ACCOUNTANT 40.00 X 107019 0 16007 AJAKUMAR GUPTA MANAGER, NETWORK SERVICES 40.00 X 109005 0 13786 2306813 0 288963 13 0 1 0 LSCU CORP INC PO BOX 380428 BIRMINGHAM AL 352380428 AUDIT/CO-OP SERVICES 1069628 FUNDSXPRESS FINANCIAL NETWORK INC PO BOX 310464 DES MOINES IA 503310464 BILL PAY SERVICE 671794 VELOCITY SOLUTIONS INC PO BOX 460939 FT LAUDERDALE FL 333460939 ARS/ICS PROGRAMS 669571 FISERV PO BOX 979 BROOKFIELD WI 530080979 PROCESSING SERVICES 565639 FEDCORP INC 2169 STANTON RD SUITE 100 DAPHNE AL 36526 ATM SERVICE 565600 22 LOAN INTEREST INCOME 522130 21046468 21046468 21046468 7943079 7943079 649244 649244 30000 0 30000 30000 30000 15061614 15119234 -57620 -57620 -57620 NSF ACCOUNT CHARGES 522130 6298297 6298297 INTERCHANGE ACCOUNT CHARGES 522130 4659345 4659345 OTHER ACCOUNT & LOAN FEES 522130 1745746 1745746 1423819 1421487 2332 14127207 43738378 35171343 2332 8564703 1929941 9326181 1085347 2018319 884221 180586 233346 827861 561552 2281564 686743 1129887 178591 204137 4446192 1548030 42486 CHECK & LOAN SERVICING 3774459 ATM EXPENSE 1840283 BAD DEBTS 1613200 REPAIRS & MAINTENANCE 1184725 2517570 38495221 15604553 19726471 42548701 48273836 10111670 13381786 373927294 506207898 2767122 3036961 46083703 15449777 26954152 30633926 15030138 8527712 271030835 225256427 152435 234849 0 372500 18158872 20620002 776285772 876272368 3228758 3924432 15000000 19000000 678397783 764657447 696626541 787581879 X 0 0 0 0 79659231 88690489 79659231 88690489 776285772 876272368 X 5243157 -3015872 6803973 X X 0 0 0 12462279 12462279 21591803 5402890 16188913 12029621 10046887 1982734 30633926 GOVERNMENT MORTGAGE SECURITIES 225256427 F 225256427 MEMBER DEPOSITS 764657447 764657447 X X X 0 1 0 MICHAEL GOODMAN CIO 164549 0 19197 0 14811 0 17246 0 2628 0 218431 0 0 0 KAY M BELL COO 131206 0 21479 0 24284 0 16629 0 6621 0 200219 0 0 0 JIM PENNINGTON VP, COLLECTIONS 109798 0 13524 0 11523 0 12788 0 6707 0 154340 0 0 0 STEPHEN K SWOFFORD CEO/PRESIDENT 300346 0 73057 0 122552 0 35024 0 8925 0 539904 0 0 0 ELEANOR BROWN CFO 158787 0 21478 0 14416 0 30024 0 7433 0 232138 0 0 0 MICHAEL R SHULTS VP OF INFORMATION SYSTEMS 117912 0 24458 0 33293 0 14213 0 6332 0 196208 0 0 0 BENSON P BOLLING CHIEF LENDING OFFICER 139210 0 19898 0 22839 0 10528 0 2607 0 195082 0 0 0 TOMMY COBB SENIOR VP OF BRANCH OPERATIONS 163462 0 4466 0 0 0 19264 0 6427 0 193619 0 0 0 JUNE LANDRUM AVP, BRANCH OPERATIONS 101134 0 15695 0 14018 0 14875 0 6097 0 151819 0 0 0 PART I, LINE 4B NO PAYMENTS WERE RECEIVED DURING THE YEAR. THE FOLLOWING OFFICER PARTICIPATED IN THE NONQUALIFIED RETIREMENT PLAN: STEPHEN SWOFFORD KAY BELL ELEANOR BROWN BENSON BOLLING MICHAEL GOODMAN MICHAEL SHULTS BENSON BOLLING OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 140000 140000 0 1 1 BENSON BOLLING OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 140000 140000 0 1 1 BENSON BOLLING OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 140000 140000 0 1 1 BENSON BOLLING OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 140000 140000 0 1 1 BENSON BOLLING OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 140000 140000 0 1 1 BENSON BOLLING OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 140000 140000 0 1 1 ELEANOR BROWN OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 160000 160000 0 1 1 ELEANOR BROWN OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 160000 160000 0 1 1 ELEANOR BROWN OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 160000 160000 0 1 1 ELEANOR BROWN OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 160000 160000 0 1 1 ELEANOR BROWN OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 160000 160000 0 1 1 ELEANOR BROWN OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 160000 160000 0 1 1 JIM PENNINGTON OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 80000 80000 0 1 1 JIM PENNINGTON OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 80000 80000 0 1 1 JIM PENNINGTON OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 80000 80000 0 1 1 JIM PENNINGTON OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 80000 80000 0 1 1 JIM PENNINGTON OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 80000 80000 0 1 1 JIM PENNINGTON OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCECOLLATERAL ASSIGNMENT SPLIT DOL X 80000 80000 0 1 1 KAY BELL OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 220000 220000 0 1 1 KAY BELL OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 220000 220000 0 1 1 KAY BELL OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 220000 220000 0 1 1 KAY BELL OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 220000 220000 0 1 1 KAY BELL OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 220000 220000 0 1 1 KAY BELL OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 220000 220000 0 1 1 MICHAEL GOODMAN OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 90000 90000 0 1 1 MICHAEL GOODMAN OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 90000 90000 0 1 1 MICHAEL GOODMAN OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 90000 90000 0 1 1 MICHAEL GOODMAN OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 90000 90000 0 1 1 MICHAEL GOODMAN OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 90000 90000 0 1 1 MICHAEL GOODMAN OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 90000 90000 0 1 1 MICHAEL SHULTS OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 130000 130000 0 1 1 MICHAEL SHULTS OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 1091670 1091670 0 1 1 STEPHEN SWOFFORD OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 1440000 1440000 0 1 1 STEPHEN SWOFFORD OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 800000 800000 0 1 1 STEPHEN SWOFFORD OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 800000 800000 0 1 1 STEPHEN SWOFFORD OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 800000 800000 0 1 1 STEPHEN SWOFFORD OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 800000 800000 0 1 1 STEPHEN SWOFFORD OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 800000 800000 0 1 1 STEPHEN SWOFFORD OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 395116 395116 0 1 1 THOMAS COBB OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 415000 415000 0 1 1 THOMAS COBB OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 1770000 1770000 0 1 1 13381786 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 AFFILLIATED 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 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 DEVELOP 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 XI, LINE 9: OTHER COMPREHENSIVE INCOME 6,026. TCU MERGED EQUITY 6,797,947. 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, 2018 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, 2018 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 -110 1000 1.00000 1 TCU AGENCY INC 220 PAUL W BRYANT DRIVE EAST TUSCALOOSA AL 35486 474707080 FINANCIAL SERVICES AL ALABAMA CREDIT UNION C -17633 2288 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0