SOUTHEASTERN FEDERAL CREDIT UNION: Form 990, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- SOUTHEASTERN FEDERAL CREDIT UNION (EIN 58-0801176)
- Tax period
- 2024-01-01 to 2024-12-31
- Filed
- 2025-10-08
- IRS object ID
- 202512819349300836
- Schema version
- 2024v5.2
- 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 | 2025-10-08T10:53:33-05:00 | ReturnTs |
| Tax Period End | 2024-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 994260840 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DOEREN MAYHEW | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 8785 SW 165TH AVENUE SUITE 303 | AddressLine1Txt |
| City | MIAMI | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 33193 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2024-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 580801176 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SOUTHEASTERN CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | SOUT | BusinessNameControlTxt |
| Phone | 2292442732 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 2067 | AddressLine1Txt |
| City | VALDOSTA | CityNm |
| State Abbreviation | GA | StateAbbreviationCd |
| ZIP | 316042067 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | E MICHAEL GUDELY | PersonNm |
| Person Title | CEO | PersonTitleTxt |
| Phone | 2292442732 | PhoneNum |
| Signature | 2025-10-07 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | AUBREY CLEGG | PreparerPersonNm |
| PTIN | P01076395 | PTIN |
| Phone | 3052328272 | PhoneNum |
| Preparation | 2025-10-07 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2024 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | E MICHAEL GUDELY | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 2067 | AddressLine1Txt |
| City | VALDOSTA | CityNm |
| State Abbreviation | GA | StateAbbreviationCd |
| ZIP | 316042067 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $23,475,823 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.SOUTHEASTERNCU.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1953 | FormationYr |
| Legal Domicile State | GA | LegalDomicileStateCd |
| Activity Or Mission | THE MISSION OF SOUTHEASTERN CREDIT UNION IS TO DELIVER VALUE AND PROVIDE LEGENDARY SERVICE TO ITS MEMBERSHIP. | ActivityOrMissionDesc |
| Voting Members Governing Body | 7 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 127 | TotalEmployeeCnt |
| Total Volunteers | 7 | TotalVolunteersCnt |
| Total Gross UBI | $90,716 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $17,368,619 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $20,477,582 | CYProgramServiceRevenueAmt |
| PY Investment Income | $2,388,031 | PYInvestmentIncomeAmt |
| CY Investment Income | $2,998,241 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $19,756,650 | PYTotalRevenueAmt |
| CY Total Revenue | $23,475,823 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $38,173 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $141,400 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $6,384,393 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $6,809,788 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $10,614,732 | PYOtherExpensesAmt |
| CY Other Expenses | $12,917,632 | CYOtherExpensesAmt |
| PY Total Expenses | $17,037,298 | PYTotalExpensesAmt |
| CY Total Expenses | $19,868,820 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $2,719,352 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $3,607,003 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $374,753,426 | TotalAssetsBOYAmt |
| Total Assets EOY | $391,341,137 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $340,327,580 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $353,314,457 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $34,425,846 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $38,026,680 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | SOUTHEASTERN CREDIT UNION IS A COMMUNITY CHARTERED ORGANIZATION COVERING FOURTEEN SOUTH GEORGIA COUNTIES (BENN HILL, BERRIEN, BROOKS, COLQUITT, COOK, ECHOLS, IRWIN, LANIER, LOWNDES, THOMAS, TIFT, TURNER, WARE, AND PIERCE). SOUTHEASTERN CREDIT UNION IS DEDICATED TO DELIVERING VALUE WHILE PROVIDING LEGENDARY SERVICE. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | SOUTHEASTERN CREDIT UNION SERVED THE FINANCIAL NEEDS OF 24,029 MEMBERS IN 2024. THE CREDIT UNION SERVICED CONSUMER AND BUSINESS LOANS TOTALING $281,216,582 AND DEPOSITS OF $345,403,481 THROUGH EIGHT FULL-SERVICE LOCATIONS. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | SOUTHEASTERN CREDIT UNION STRIVES TO BE A RESPONSIBLE COMMUNITY CITIZEN, ACTIVELY PARTICIPATING IN NUMEROUS COMMUNITY SERVICE ACTIVITIES AND DONATING $141,400 TO LOCAL SCHOOLS AND CHARITABLE ORGANIZATIONS. THE CREDIT UNION, ALONG WITH ITS EMPLOYEES, CONTRIBUTES TO THE UNITED WAY. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| 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 | 0 | 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 | 0 | 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 | Yes (1) | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 10132 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 127 | 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 | 7 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 7 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | 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 | Yes (1) | 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 | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SOUTHEASTERN CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2292443732 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 2067 | AddressLine1Txt |
| City | VALDOSTA | CityNm |
| State Abbreviation | GA | StateAbbreviationCd |
| ZIP | 316042067 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (14 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 |
|---|---|---|---|---|---|---|---|
| WAYNE PLUMLY | |||||||
| BOARD - CHAIRPESON | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| C ANTHONY PAYTON | |||||||
| BOARD - VICE CHAIRPESON | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| VALERIE BRYANT | |||||||
| BOARD - TREASURER | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| JERRY PERMENTER | |||||||
| BOARD - SECRETARY | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| STEPHEN SAINZ | |||||||
| BOARD - DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| CLINT BUSH | |||||||
| BOARD - DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| CHARLES EIDSON | |||||||
| BOARD - DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| EDWARD MICHAEL GUDELY | |||||||
| PRESIDENT/CEO | 40.00 | $289,892 | $0 | $52,583 | Yes (X) | ||
| JENNIFER STASIO | |||||||
| SVP/CFO | 40.00 | $194,413 | $0 | $35,663 | Yes (X) | ||
| ERIC BENNETT | |||||||
| VP CLO | 40.00 | $155,280 | $0 | $23,125 | Yes (X) | ||
| MITCHELL BURTON | |||||||
| VP RETAIL SERVICES | 40.00 | $110,183 | $0 | $19,447 | Yes (X) | ||
| BERRY TANNER | |||||||
| WAYCROSS AREA EXECUTIVE | 40.00 | $128,624 | $0 | $12,061 | Yes (X) | ||
| EDDIE SMITH | |||||||
| BUSINESS DEVELOPMENT | 40.00 | $126,440 | $0 | $20,321 | Yes (X) | ||
| JEREMY HATCHER | |||||||
| AVP COMMERCIAL LENDING | 40.00 | $116,789 | $0 | $25,947 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,121,621 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $189,147 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 7 | 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 |
|---|---|---|---|---|---|
| JACK HENRY & ASSOCIATES INC | |||||
| PO BOX 609 | MONETT | MO | 65708 | CORE PROVIDER | $1,209,608 |
| SYNERGENT | |||||
| PO BOX 1236 | PORTLAND | ME | 04104 | CORE PROVIDER | $276,861 |
| ATT | |||||
| 208 S AKRAD ST | DALLAS | TX | 75202 | PHONE SERVICE | $213,152 |
| CONSULTANT & BUILDERS INC | |||||
| 3100 MEDLOCK BRIDGE ROAD | PEACHTREE CORNERS | GA | 30071 | CONSULTANT/ CONTRACTOR | $197,517 |
| KASASA LTD | |||||
| PO BOX 527 | LUBBOCK | TX | 79408 | MEMBER PRODUCTS | $163,737 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 15 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| LOAN INCOME | 522100 | $15,969,511 | $15,969,511 | |
| FEES, CHARGES, AND OTHER INCOME | 522100 | $4,417,355 | $4,417,355 | |
| FINANCE AND INSURANCE | 520000 | $90,716 | $90,716 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $20,477,582 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,998,241 | TotalRevenueColumnAmt |
| Exclusion | $2,998,241 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $23,475,823 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $20,386,866 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $90,716 | UnrelatedBusinessRevenueAmt |
| Exclusion | $2,998,241 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $141,400 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $880,586 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,601,158 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $291,227 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $633,174 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $403,643 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,792 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $103,500 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,879,503 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $286,668 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $524,926 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $182,079 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $611,905 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $160,973 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,079,939 | TotalAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $60,290 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $623,559 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $93,697 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| ATM/VISA/SHARE DRAFT PR | $1,080,787 |
| LOAN SERVICING | $463,454 |
| SHARE/FRAUD LOSSES | $327,236 |
| MAINTENANCE & REPAIRS | $189,850 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $242,474 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $19,868,820 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,140,865 | BOYAmt |
| EOY | $2,462,430 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,098,743 | BOYAmt |
| EOY | $29,399,360 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $80,386 | BOYAmt |
| EOY | $82,456 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,360,533 | BOYAmt |
| EOY | $5,412,760 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $279,725,598 | BOYAmt |
| EOY | $278,424,695 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $713,395 | BOYAmt |
| EOY | $876,016 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $15,571,403 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $6,593,456 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,050,679 | BOYAmt |
| EOY | $8,977,947 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $59,376,993 | BOYAmt |
| EOY | $58,222,382 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,984,832 | BOYAmt |
| EOY | $1,747,984 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $15,281 | BOYAmt |
| EOY | $3,341 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,206,121 | BOYAmt |
| EOY | $5,731,766 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $374,753,426 | BOYAmt |
| EOY | $391,341,137 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,410,755 | BOYAmt |
| EOY | $2,910,976 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $365,924 | BOYAmt |
| EOY | $277,425 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,000,000 | BOYAmt |
| EOY | $5,000,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $326,550,901 | BOYAmt |
| EOY | $345,126,056 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $340,327,580 | BOYAmt |
| EOY | $353,314,457 | 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 | $34,425,846 | BOYAmt |
| EOY | $38,026,680 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $34,425,846 | BOYAmt |
| EOY | $38,026,680 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $374,753,426 | BOYAmt |
| EOY | $391,341,137 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $3,607,003 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$6,169 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | 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) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| 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 | $2,947,708 | OtherCostOrOtherBasisAmt |
| Book Value | $2,947,708 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $8,331,392 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,258,418 | DepreciationAmt |
| Book Value | $5,072,974 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $415,247 | OtherCostOrOtherBasisAmt |
| Depreciation | $361,241 | DepreciationAmt |
| Book Value | $54,006 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,761,064 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,911,945 | DepreciationAmt |
| Book Value | $849,119 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $115,992 | OtherCostOrOtherBasisAmt |
| Depreciation | $61,852 | DepreciationAmt |
| Book Value | $54,140 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $8,977,947 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (6 entries)
| DescDesc | AmtAmt |
|---|---|
| SHARES | $110,946,329 |
| SHARE DRAFTS | $74,508,495 |
| MONEY MARKETS | $55,727,447 |
| IRA SHARES | $4,352,506 |
| SHARE CERTIFICATES | $88,593,369 |
| IRA CERTIFICATES | $10,997,910 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $345,126,056 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $23,475,823 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $23,475,823 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $23,475,823 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $19,868,820 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $19,868,820 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $19,868,820 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | AS A MORTGAGE LOAN SERVICER, THE CREDIT UNION RECEIVES PROPERTY TAX PAYMENTS AND INSURANCE PAYMENTS AND THEN REMITS THESE FUNDS TO THE APPLICABLE THIRD PARTIES ON BEHALF OF THE BORROWERS. |
| PART X, LINE 2: | INCOME TAXES THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE AND LOCAL INCOME TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE (IRC) AND STATE TAX LAWS. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME DERIVED BY STATE-CHARTERED CREDIT UNIONS. GENERALLY, THESE TAXES ARE INSIGNIFICANT TO THE CREDIT UNION. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (10 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|
| BERRIEN COUNTY FAMILY CONNECTIONS | ||||||||
| 1015 EXUM RD | NASHVILLE | GA | 31639 | 562311325 | 501(C)(3) | $10,000 | $0 | HURRICANE RELIEF |
| COLQUITT COUNTY UNITED WAY | ||||||||
| 116 1ST AVE SE | MOULTRIE | GA | 31768 | 580955533 | 501(C)(3) | $10,000 | $0 | HURRICANE RELIEF |
| CAMP ROCK OF GEORGIA | ||||||||
| 4407 ROCKY FORD RD | VALDOSTA | GA | 31601 | 463163243 | 501(C)(3) | $10,000 | $0 | HURRICANE RELIEF |
| LOWNDES ASSOC MINISTRIES TO PEOPLE LAMP INC | ||||||||
| 714 CHARLTON ST | VALDOSTA | GA | 31601 | 581597700 | 501(C)(3) | $10,000 | $0 | HURRICANE RELIEF |
| MAGNOLIA HOUSE | ||||||||
| PO BOX 1824 | WAYCROSS | GA | 31502 | 581530718 | 501(C)(3) | $10,000 | $0 | HURRICANE RELIEF |
| QUITMAN BOYS & GIRLS CLUB OF AMERICA | ||||||||
| 2330 N WEBSTER RD | QUITMAN | GA | 31643 | 237067775 | 501(C)(3) | $10,000 | $0 | HURRICANE RELIEF |
| QUITMAN FAMILY CONNECTIONS | ||||||||
| 100 W LAFAYETTE ST | QUITMAN | GA | 31643 | 651167462 | 501(C)(3) | $10,000 | $0 | HURRICANE RELIEF |
| SECOND HARVEST | ||||||||
| 1411 HARBIN CIR | VALDOSTA | GA | 31601 | 582208545 | 501(C)(3) | $10,000 | $0 | HURRICANE RELIEF |
| GREATER VALDOSTA UNITED WAY | ||||||||
| 1609 N PATTERSON ST | VALDOSTA | GA | 31602 | 580643332 | 501(C)(3) | $10,000 | $0 | HURRICANE RELIEF |
| TIFTON SALVATION ARMY | ||||||||
| 1205 US HIGHWAY 82 E | TIFTON | GA | 31794 | 580660607 | 501(C)(3) | $10,000 | $0 | HURRICANE RELIEF |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 10 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | FORM 990, SCHEDULE I, PART I | FormAndLineReferenceDesc |
| Explanation | THE CHARITABLE CONTRIBUTIONS MADE DURING 2024 HAD THE COMMON PURPOSE OF PROVIDING HURRICANE RELIEF THROUGH DONATIONS TO COMMUNITY ORGANIZATIONS. THESE DONATIONS WERE NOT SUBSEQUENTLY MONITORED BY THE CREDIT UNION. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| 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 (3 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EDWARD MICHAEL GUDELY | ||||||||||||||
| PRESIDENT/CEO | $289,892 | $0 | $0 | $0 | $0 | $0 | $23,711 | $0 | $28,872 | $0 | $342,475 | $0 | $0 | $0 |
| JENNIFER STASIO | ||||||||||||||
| SVP/CFO | $167,006 | $0 | $27,407 | $0 | $0 | $0 | $13,928 | $0 | $21,735 | $0 | $230,076 | $0 | $0 | $0 |
| ERIC BENNETT | ||||||||||||||
| VP CLO | $140,613 | $0 | $14,667 | $0 | $0 | $0 | $10,018 | $0 | $13,107 | $0 | $178,405 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 4B | FormAndLineReferenceDesc |
| Explanation | THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS TO THE PRESIDENT/CEO THROUGH A LOAN REGIME ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." THE PROMISSORY NOTE SIGNED BY THE PARTICIPATING EXECUTIVE IS SECURED BY THE LIFE INSURANCE POLICIES PURCHASED ON THE EXECUTIVE'S BEHALF. THAT IS, THE EXECUTIVE'S LOAN FUNDS A LIFE INSURANCE POLICY TO ENSURE REPAYMENT. AT SPECIFIED TIMES, THE EXECUTIVE MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE POLICY TO SUPPLEMENT RETIREMENT INCOME UP TO THE PREMIUMS PAID INTO THE POLICIES. THE BORROWINGS ARE MONITORED TO ENSURE THE POLICY WILL PAY A DEATH BENEFIT AT LEAST SUFFICIENT TO COVER THE CREDIT UNION'S EXECUTIVE LOAN ORIGINATION VALUE PLUS THE STATED INTEREST. ANY REMAINING DEATH BENEFITS AFTER REPAYMENT OF THE LOANS ARE DIVIDED BETWEEN THE CREDIT UNION AND THE PARTICIPANT'S BENEFICIARIES AS PER THE CONTRACTUAL AGREEMENT. | ExplanationTxt |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | EDWARD MICHAEL GUDELY | PersonNm |
| Relationship With Org | CEO | RelationshipWithOrgTxt |
| Loan Purpose | TO FUND SPLIT DOLLAR LIFE INSURANCE POLICIES | LoanPurposeTxt |
| Loan From Organization | Yes (X) | LoanFromOrganizationInd |
| Original Principal | $4,884,784 | OriginalPrincipalAmt |
| Balance Due | $5,412,760 | BalanceDueAmt |
| Default | 0 | DefaultInd |
| Board Or Committee Approval | Yes (1) | BoardOrCommitteeApprovalInd |
| Written Agreement | Yes (1) | WrittenAgreementInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $5,412,760 | TotalBalanceDueAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE L PART II | FormAndLineReferenceDesc |
| Explanation | THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS TO THE PRESIDENT/CEO THROUGH A LOAN REGIME ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." THE PROMISSORY NOTE SIGNED BY THE PARTICIPATING EXECUTIVE IS SECURED BY THE LIFE INSURANCE POLICIES PURCHASED ON THE EXECUTIVE'S BEHALF. THAT IS, THE EXECUTIVE'S LOAN FUNDS A LIFE INSURANCE POLICY TO ENSURE REPAYMENT. AT SPECIFIED TIMES, THE EXECUTIVE MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE POLICY TO SUPPLEMENT RETIREMENT INCOME UP TO THE PREMIUMS PAID INTO THE POLICIES. THE BORROWINGS ARE MONITORED TO ENSURE THE POLICY WILL PAY A DEATH BENEFIT AT LEAST SUFFICIENT TO COVER THE CREDIT UNION'S EXECUTIVE LOAN ORIGINATION VALUE PLUS THE STATED INTEREST. ANY REMAINING DEATH BENEFITS AFTER REPAYMENT OF THE LOANS ARE DIVIDED BETWEEN THE CREDIT UNION AND THE PARTICIPANT'S BENEFICIARIES AS PER THE CONTRACTUAL AGREEMENT. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | THE CREDIT UNION HAS MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE ANNUAL MEETING OF MEMBERS OF THE CREDIT UNION SHALL BE HELD DURING THE MONTH OF MARCH, FOR THE PURPOSE OF ELECTING DIRECTORS AND TRANSACTING ANY AND ALL BUSINESS THAT MAY PROPERLY COME BEFORE THE MEETING. ANY VACANCY ON THE BOARD OR SUPERVISORY COMMITTEE SHALL BE FILLED BY VOTE OF A MAJORITY OF THE DIRECTORS THEN HOLDING OFFICE, EVEN THOUGH LESS THAN A QUORUM. DIRECTORS SO APPOINTED SHALL HOLD OFFICE ONLY UNTIL THE NEXT ANNUAL MEETING, AT WHICH ANY UNEXPIRED TERMS SHALL BE FILLED BY VOTE OF THE MEMBERS, AND UNTIL THE QUALIFICATION OF THEIR SUCCESSORS. MEMBERS OF THE SUPERVISORY COMMITTEE SO APPOINTED SHALL HOLD OFFICE UNTIL THE FIRST REGULAR MEETING OF THE BOARD FOLLOWING THE NEXT ANNUAL MEETING OF MEMBERS AT WHICH THE REGULAR TERM EXPIRES AND UNTIL THE APPOINTMENT AND QUALIFICATION OF THEIR SUCCESSORS. |
| FORM 990, PART VI, SECTION A, LINE 7B | MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF DIRECTORS AND FIELD OF MEMBERSHIP AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. BYLAWS ADOPTED BY THE BOARD OF DIRECTORS MAY BE ALTERED, AMENDED OR REPEALED, AND NEW BYLAWS ADOPTED BY THE MEMBERS. THE MEMBERS MAY PRESCRIBE THAT ANY BYLAW OR BYLAWS ADOPTED BY THEM SHALL NOT BE ALTERED, AMENDED OR REPEALED, BY THE BOARD OF DIRECTORS. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE RETURN IS PREPARED BY A THIRD PARTY CPA FIRM. THE RETURN IS REVIEWED BY THE FULL BOARD PRIOR TO FILING. ONCE THE REVIEW AND ANY NECESSARY CORRECTIONS ARE COMPLETED, THE RETURN IS FILED. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE ORGANIZATION MONITORS ADHERENCE TO THE CONFLICT OF INTEREST POLICY THROUGH EMPLOYEE DISCLOSURE AND MANAGEMENT OF EMPLOYEES. IN THE EVENT OF A POTENTIAL CONFLICT, THE INTERESTED PERSON SHALL RECUSE HIMSELF/HERSELF FROM ALL DISCUSSIONS AND VOTE. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE PERSONNEL COMMITTEE OF THE CREDIT UNION ENGAGED AN INDEPENDENT THIRD PARTY TO CONDUCT AN ANALYSIS OF CEO COMPENSATION IN 2024 TO DETERMINE REASONABLENESS. THE COMPENSATION FOR ALL OTHER KEY EMPLOYEES IS REVIEWED BY A THIRD PARTY CONSULTANT AT LEAST ANNUALLY TO DETERMINE REASONABLENESS. ALL DECISIONS AND COMPARABILITY DATA ARE DOCUMENTED IN MEETING MINUTES. |
| FORM 990, PART VI, SECTION C, LINE 19 | GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICIES ARE NOT MADE AVAILABLE TO THE PUBLIC. FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC ON THE NCUA'S WEBSITE VIA THE 5300 CALL REPORT FILING. |
| FORM 990, PART IX, LINE 11G | PROFESSIONAL & OUTSIDE SERVICES 1,879,503. |
| FORM 990, PART IX, LINE 24E | PROVISION FOR LOAN LOSSES 174,000. STATE BANK EXAM FEE 42,694. MISCELLANEOUS 21,209. CASH OVER & SHORT 4,571. |
| FROM 990, PART XII, LINE 2C | THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. |