2019-11-15T06:57:44-06:00 2018-12-31 580692043 MAULDIN & JENKINS LLC 200 GALLERIA PKWY SE STE 1700 ATLANTA GA 303395946 990 2018-01-01 580240950 ASSOCIATED CREDIT UNION ASSO 7704488200 6251 CROOKED CREEK ROAD NORCROSS GA 300923107 TIM G BRIDGES EVP/CFO 7704488200 2019-11-14 1 MARY JO ALEXANDER P00002534 7709558600 2019-11-14 12.8.221.82 2019-11-14 18:04:53 ES P 91065CC9D35D24350E77F4100237C089BE94C045 A78F05A7F45B736CDB8ADA2180C18FA4E317ED64 2018 2020-04-17 16:48:07Z C LIN HODGES 6251 CROOKED CREEK ROAD NORCROSS GA 300923107 77856036 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. 12 11 382 20 0 0 0 0 64899753 71799510 4141014 5963920 0 0 69040767 77763430 87173 87533 0 0 24550104 26060894 0 0 0 34410578 38420780 59047855 64569207 9992912 13194223 1533522988 1556679095 1350044950 1360319451 183478038 196359644 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 40089 0 1 382 1 1 1 0 0 0 0 0 0 0 X 12 11 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 - AVP 7703682117 6251 CROOKED CREEK ROAD NORCROSS GA 300923107 JAMES C BARBRE DIRECTOR 1.00 1.00 X 9369 0 0 MIKE COLLINS DIRECTOR 1.00 1.00 X 9265 0 0 CHARLES GEHRMANN DIRECTOR 1.00 1.00 X 9851 0 0 GEORGE M CLARKE DIRECTOR 1.00 1.00 X 9779 0 0 KEITH GETTMANN DIRECTOR 1.00 1.00 X 9388 0 0 TIM F KERCHEVAL DIRECTOR 1.00 1.00 X 9327 0 0 MARGARET PITTMAN DIRECTOR 1.00 1.00 X 9185 0 0 DOYLE SPEARS DIRECTOR 1.00 1.00 X 9406 0 0 JOHN PETROS DIRECTOR 1.00 1.00 X 8599 0 0 RON FORD DIRECTOR 1.00 1.00 X 8435 0 0 ALLEN BRYAN DIRECTOR 1.00 1.00 X 9311 0 0 EXCEPTIONAL HARDEN DIRECTOR 1.00 1.00 X 9334 0 0 C LIN HODGES PRESIDENT/CEO 40.00 X 755110 0 19250 GREG CONNOR EXECUTIVE VP 40.00 X 402948 0 67250 TIM BRIDGES EXECUTIVE VP/CFO 40.00 X 365905 0 19021 MARK WALLER EVP/COO 40.00 X 345863 0 15804 KARL MANN VP/CIO 40.00 X 278478 0 3850 TOM MAIELLARO VP/MARKETING 40.00 X 183117 0 22847 JEFFREY BERGUM AVP/OPERATIONS 40.00 X 179730 0 9988 JIM LAFOND VP/RISK MANAGEMENT 40.00 X 159742 0 37577 CHAD EVANS VP/LENDING 40.00 X 187205 0 10002 TODD CHANDLER AVP/IT 40.00 X 166900 0 6090 BETH TYNAN AVP/CONTROLLER 40.00 X 156013 0 14976 3292260 0 226655 15 0 1 0 NCR 864 SPRING ST NW ATLANTA GA 30308 HOME BANKING VENDOR 1963749 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 528094 CDW DIRECT 450 E SYCAMORE ST EVANSVILLE IN 47713 COMPUTER HARDWARE 463364 CONSULTANTS & BUILDERS INC 3100 MEDLOCK BRIDGE ROAD 420 NORCROSS GA 30071 CONSTRUCTION 431222 5 INTEREST ON LOANS 522100 43932495 43932495 FEE INCOME 522100 16164603 16164603 OTHER OPERATING INCOME 522100 11192218 11192218 GAIN ON SALE OF MTGE LOANS 522100 510194 510194 71799510 5907566 5907566 148960 92606 56354 56354 56354 77763430 71799510 0 5963920 87533 2590693 17681385 945229 3492083 1351504 71716 100500 3464244 1611207 4239346 394638 1453059 334559 367754 7000949 1374845 283405 PROVISION FOR LOAN LOSS 7325000 LOAN SERVICING EXPENSE 6059767 DEBIT CARD SERVICES EXP 2862939 STATEMENT PRINTING 609193 867659 64569207 10528842 10914047 163961713 164290859 4010000 5657000 1121777150 1170357940 30301736 15722270 14041200 14579466 151603286 143971951 4067356 3866643 63533441 43041189 1533522988 1556679095 16728838 16354579 1333316112 1343964872 1350044950 1360319451 X 0 0 0 0 183478038 196359644 183478038 196359644 1533522988 1556679095 X 13194223 -359317 46700 X X 0 1 X 1 0 4634583 4634583 15758447 7896486 7861961 9639678 7825784 1813894 269028 269028 14579466 AVAILABLE FOR SALE SECURITIES 142980964 F OTHER INVESTMENTS 990987 F 143971951 MEMBER SHARES AND DEPOSITS 1343964872 1343964872 X 77763430 0 77763430 0 77763430 64569207 0 64569207 0 64569207 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. AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017, 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) 87533 GENERAL SUPPORT AND OPERATIONS 1 0 X X X 1 1 X X X X 0 1 0 C LIN HODGES PRESIDENT/CEO 609110 0 146000 0 0 0 19250 0 0 0 774360 0 0 0 GREG CONNOR EXECUTIVE VP 340948 0 62000 0 0 0 19250 0 48000 0 470198 0 0 0 TIM BRIDGES EXECUTIVE VP/CFO 300905 0 65000 0 0 0 19021 0 0 0 384926 0 0 0 MARK WALLER EVP/COO 275863 0 70000 0 0 0 15804 0 0 0 361667 0 0 0 KARL MANN VP/CIO 243888 0 34590 0 0 0 3850 0 0 0 282328 0 0 0 TOM MAIELLARO VP/MARKETING 156486 0 26631 0 0 0 10847 0 12000 0 205964 0 0 0 JEFFREY BERGUM AVP/OPERATIONS 153180 0 26550 0 0 0 9988 0 0 0 189718 0 0 0 JIM LAFOND VP/RISK MANAGEMENT 135666 0 24076 0 0 0 8777 0 28800 0 197319 0 0 0 CHAD EVANS VP/LENDING 157746 0 29459 0 0 0 10002 0 0 0 197207 0 0 0 TODD CHANDLER AVP/IT 141185 0 25715 0 0 0 1290 0 4800 0 172990 0 0 0 BETH TYNAN AVP/CONTROLLER 133171 0 22842 0 0 0 8976 0 6000 0 170989 0 0 0 PART I, LINE 4B THE CREDIT UNION MAINTAINS NON-QUALIFIED PENSION PLANS FOR A SELECT GROUP OF MANAGEMENT. THE TERMS OF THE PLAN REQUIRE THE PARTICIPANTS TO REMAIN EMPLOYED BY THE CREDIT UNION UNTIL AN AGREED UPON RETIREMENT DATE. THE PLAN CONSTITUTES AN UNSECURED PROMISE BY THE CREDIT UNION TO PAY BENEFITS IN THE FUTURE TO THE PARTICIPANT AND THE PARTICIPANT SHALL HAVE STATUS OF A GENERAL UNSECURED CREDITOR OF THE CREDIT UNION. 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. ANY INTEREST EARNED BY, OR RETURN ON SUCH INVESTMENTS SHALL BE CREDITED TO THE PARTICIPANT'S PLAN ACCOUNT AT LEAST ANNUALLY. THE PLAN BENEFITS SHALL BE PAID AS A LUMP SUM AS SOON AS ADMINISTRATIVELY PRACTICABLE FOLLOWING THE EARLIER OF THE PARTICIPANT'S NORMAL RETIREMENT DATE, THE PARTICIPANT'S INVOLUNTARY TERMINATION OF EMPLOYMENT WITHOUT CAUSE, OR THE TERMINATION OF THE PLAN PURSUANT TO THE APPOINTED COMMITTEE'S DISCRETION. PARTICIPANTS ARE ELIGIBLE BASED ON APPROVAL BY THE CREDIT UNION'S BOARD OF DIRECTORS. UNDER THIS PLAN, PARTICIPANTS ARE GIVEN ACCESS TO EMPLOYER FUNDS TO BE INVESTED IN CERTAIN INVESTMENT VEHICLES. THE PARTICIPANT'S BENEFIT IS THE EARNINGS OF THOSE INVESTMENTS ABOVE THE INITIAL INVESTMENT BALANCE. THE ASSET AND LIABILITY RELATED TO THIS PLAN APPROXIMATED $3,280,000 AND $3,232,000 AS OF DECEMBER 31, 2018 AND 2017, 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: GREG CONNOR $48,000 THOMAS MAIELLARO 12,000 JIM LAFOND 28,800 BETH TYNAN 6,000 TODD CHANDLER 4,800 THE CREDIT UNION HAS SPLIT-DOLLAR LIFE INSURANCE PLANS FOR A SELECT GROUP OF MANAGEMENT. THE CREDIT UNION HAS SECURED INTEREST IN THESE PLANS TO THE EXTENT OF PREMIUMS ADVANCED ON THE BEHALF OF THESE KEY EMPLOYEES. THE VESTED INTEREST IN THESE SPLIT-DOLLAR PLANS TOTALED APPROXIMATELY $7,325,000 AND $6,407,000 AS OF DECEMBER 31, 2018 AND 2017, RESPECTIVELY. OF THE INDIVIDUALS LISTED ON SCH J THE FOLLOWING PARTICIPATED IN THIS PLAN: C. LIN HODGES TIM BRIDGES MARK WALLER KARL MANN TOM MAIELLARO CHAD EVANS JEFFREY BERGUM TODD CHANDLER BETH TYNAN C LIN HODGES PRESIDENT CEO SPLIT DOLLAR LIFE INSURANCE X 1125000 2025000 0 1 1 TIM BRIDGES EXECUTIVE VP/CFO SPLIT DOLLAR LIFE INSURANCE X 500000 700000 0 1 1 MARK WALLER EVP/COO SPLIT DOLLAR LIFE INSURANCE X 600000 900000 0 1 1 KARL MANN VP/INFORMATION TECHNOLOGY SPLIT DOLLAR LIFE INSURANCE X 480000 640000 0 1 1 TOM MAIELLARO VP/MARKETING SPLIT DOLLAR LIFE INSURANCE X 70000 140000 0 1 1 CHAD EVANS SVP LENDING SPLIT DOLLAR LIFE INSURANCE X 360000 480000 0 1 1 JEFFERY BERGUM VP RETAIL SERVICE SPLIT DOLLAR LIFE INSURANCE X 408000 544000 0 1 1 TODD CHANDLER AVP DIGITAL STRATEGY SPLIT DOLLAR LIFE INSURANCE X 56000 112000 0 1 1 BETH TYNAN CONTROLLER SPLIT DOLLAR LIFE INSURANCE X 58000 116000 0 1 1 5657000 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 46,700. 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 87533 ACTUAL