2025-11-10T16:02:44-06:00 2024-12-31 461498870 BMSS LLC 1121 RIVERCHASE OFFICE RD BIRMINGHAM AL 35244 990 2024-01-01 630440014 ALABAMA CREDIT UNION ALAB 2054695944 PO BOX 862998 TUSCALOOSA AL 35486 STEPHEN K SWOFFORD PRESIDENT 2053485944 2025-11-06 1 0 CHERION SIBLEY CPA P00090514 2059825500 2025-11-06 2024 2025-03-06 01:10:19Z STEPHEN K SWOFFORD PO BOX 862998 TUSCALOOSA AL 35486 143295806 0 X WWW.ALABAMACU.COM X 1956 AL TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS 11 11 489 14 1937208 828082 0 0 74325249 85701034 7434355 9303383 24503973 48229299 106263577 143233716 21000 98948 0 0 26073514 29367127 0 0 0 75286843 102488900 101381357 131954975 4882220 11278741 1922294287 1953300236 1811575411 1831595042 110718876 121705194 TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS 0 0 146,856 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 1 0 1 0 1 0 0 0 0 0 0 0 0 1 1 1 1 0 1 27470 0 1 489 0 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 2054695944 909 ANNA AVENUE TUSCALOOSA AL 35401 REBA ESSARY DIRECTOR 1.00 X 0 0 0 CASEY TAYLOR SECRETARY/TREASURER 1.00 X 0 0 0 CHARLOTTE HARRIS DIRECTOR 1.00 X 0 0 0 LYNNE APRIL BOARD VICE CHAIRPERSON 1.00 X 0 0 0 MARK NELSON DIRECTOR 1.00 X 0 0 0 MARCUS JONES DIRECTOR 1.00 X 0 0 0 THOMAS WEST DIRECTOR 1.00 X 0 0 0 ROBERT RILEY DIRECTOR 1.00 X 0 0 0 RON DULEK BOARD CHAIRPERSON 1.00 X 0 0 0 LISA EVANS DIRECTOR 1.00 X 0 0 0 TONY JOHNSON DIRECTOR 1.00 X 0 0 0 MICHAEL GOODMAN CIO 45.00 X 353808 0 55255 JUNE LANDRUM PRESIDENT 45.00 X 356144 0 33894 JIM PENNINGTON VP, COLLECTIONS 45.00 X 286987 0 74651 STEPHEN K SWOFFORD CEO 60.00 X 566046 0 54325 ELEANOR BROWN CFO 45.00 X 314064 0 27665 MICHAEL R SHULTS VP OF INFORMATION SYSTEMS 45.00 X 298340 0 28465 BENSON P BOLLING CHIEF LENDING OFFICER 55.00 X 329082 0 30060 BRANDI MCKINNEY CHIEF RISK OFFICER 55.00 X 220330 0 24868 TOMMY COBB PRESIDENT OF ACUS HOLDINGS 45.00 X 498990 0 25851 KELLEY PORTER CHIEF MEMBER EXPERIENCE OFFICER 45.00 X 211681 0 18611 JOSEPH HARDY PRESIDENT OF ACUSI 45.00 X 535797 0 50470 ELIZABETH COLE VP OF BRANCH OPERATIONS 45.00 X 258579 0 24392 JENNIFER BROWNING ACUIS PROGRAM MANAGER 45.00 X 209330 0 24844 JOHN EDINGTON COMMERCIAL LENDING DIRECTOR 45.00 X 152465 0 22079 AJAYKUMAR GUPTA AVP OF NETWORK ADMINISTRATION 45.00 X 170113 0 24427 4761756 0 519857 20 0 1 0 APITURE LLC 1805 TIBURON DRIVE WILMINGTON NC 28403 DIGITAL BANKING SERVICES 1856799 FISERV PO BOX 745148 ATLANTA GA 30374 PAYMENT AND FINTECH PROVIDER 1412368 FEDCORP INC 2169 STANTON RD SUITE 100 DAPHNE AL 36526 ATM/ITM/ALARM/TCR SERVICE 1089161 WINDSTREAM SERVICES LLC PO BOX 9001013 LOUISVILLE KY 402901013 TELECOMMUNICATIONS 1072431 M2 THE AGENCY INC 18001 HWY 105 WEST MONTGOMERY AL 77356 MARKETING ADVERTISING SERVICE 662530 43 LOAN INTEREST INCOME 522130 85701034 85701034 85701034 9302173 9302173 716559 716559 63300 62090 1210 1210 1210 INDIRECT LENDING 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15158503 3649397 60739018 GOVERNMENT MORTGAGE SECURITIES 165072329 F 165072329 MEMBER DEPOSITS 1562983375 NON MEMBER DEPOSITS 133711739 1696695114 1 SOUTHEASTERN CREDIT UNION FOUNDATION 3692 COOLIDGE CT TALLAHASSEE FL 32311 592252733 501(C)(3) 0 9747 PROMOTING ECONOMIC WELLNESS WEST ALABAMA FOOD BANK 401 65TH ST TUSCALOOSA AL 35405 630947676 501(C)(3) 0 20000 PLEDGE FOR 5 YEAR PLAN TO ALLEVIATE HUNGER KICKS FOR KIDS 237 IVY CT CITY OF ORANGE NJ 07050 822424190 501(C)(3) 0 18000 LISTERHILL FOUNDATION SHOE DONATION SPONSORSHIP AT ALICEVILLE ELEMENTARY UAH FOUNDATION 851 JOHN WRIGHT DR HUNTSVILLE AL 35805 630520830 501(C)(3) 0 25000 SPONSORSHIP FOR ENTREPRENEURIAL PROFESSORSHIP X X X 0 1 0 STEPHEN K SWOFFORD CEO 508462 0 27700 0 29884 0 45279 0 9046 0 620371 0 0 0 JOSEPH HARDY PRESIDENT OF ACUSI 135583 0 394458 0 5756 0 44313 0 6157 0 586267 0 0 0 TOMMY COBB PRESIDENT OF ACUS HOLDINGS 194262 0 88130 0 216598 0 19476 0 6375 0 524841 0 0 0 MICHAEL GOODMAN CIO 259516 0 32244 0 62048 0 47095 0 8160 0 409063 0 0 0 JUNE LANDRUM PRESIDENT 249476 0 37847 0 68821 0 26655 0 7239 0 390038 0 0 0 JIM PENNINGTON VP, COLLECTIONS 173326 0 25446 0 88215 0 67519 0 7132 0 361638 0 0 0 BENSON P BOLLING CHIEF LENDING OFFICER 214287 0 39845 0 74950 0 22840 0 7220 0 359142 0 0 0 ELEANOR BROWN CFO 203506 0 37135 0 73423 0 19392 0 8273 0 341729 0 0 0 MICHAEL R SHULTS VP OF INFORMATION SYSTEMS 181192 0 38033 0 79115 0 20866 0 7599 0 326805 0 0 0 ELIZABETH COLE VP OF BRANCH OPERATIONS 160775 0 31436 0 66368 0 17569 0 6823 0 282971 0 0 0 BRANDI MCKINNEY CHIEF RISK OFFICER 161817 0 23988 0 34525 0 17069 0 7799 0 245198 0 0 0 JENNIFER BROWNING ACUIS PROGRAM MANAGER 63443 0 136608 0 9279 0 19101 0 5743 0 234174 0 0 0 KELLEY PORTER CHIEF MEMBER EXPERIENCE OFFICER 149788 0 23368 0 38525 0 15802 0 2809 0 230292 0 0 0 AJAYKUMAR GUPTA AVP OF NETWORK ADMINISTRATION 150752 0 8324 0 11037 0 18143 0 6284 0 194540 0 0 0 JOHN EDINGTON COMMERCIAL LENDING DIRECTOR 145730 0 3042 0 3693 0 15814 0 6265 0 174544 0 0 0 PART I, LINE 4B THE FOLLOWING OFFICERS PARTICIPATED IN THE NONQUALIFIED RETIREMENT PLAN: STEPHEN SWOFFORD BENSON BOLLING ELEANOR BROWN ELIZABETH COLE MICHAEL GOODMAN JUNE LANDRUM JAMES PENNINGTON MICHAEL SHULTS TOM COBB BRANDI MCKINNEY KELLEY PORTER BENSON BOLLING OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 1400000 1400000 0 1 1 ELEANOR BROWN OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 1600000 1600000 0 1 1 JIM PENNINGTON OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 800001 800001 0 1 1 KAY BELL FORMER OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 1760000 1760000 0 1 1 MICHAEL GOODMAN OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 900001 900001 0 1 1 MICHAEL SHULTS OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 1221670 1221670 0 1 1 STEPHEN SWOFFORD OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 5835115 5835115 0 1 1 THOMAS COBB OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 4260000 3845000 0 1 1 KELLEY PORTER OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 680000 850000 0 1 1 BRANDI MCKINNEY OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 600000 750000 0 1 1 JUNE LANDRUM OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 1250000 1250000 0 1 1 20211787 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 AFFILIATED 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 BIBB, BLOUNT, BALDWIN, CLARKE, CONECUH, CULLMAN, ESCAMBIA, FAYETTE, HALE, JEFFERSON, LAMAR, LAWRENCE, LIMESTONE, MADISON, MARION, MARSHALL, MOBILE, MONROE, MORGAN, PICKENS, SHELBY, TUSCALOOSA, WALKER, WILCOX, 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 DEVELOPS 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: MERGER AND 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: MERGE EQUITY 437,206. CUSO PRIOR YEAR ADJUSTMENT -2,029,219. 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, 2024 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, 2024 ALABAMA CREDIT UNION IS MAKING THE ELECTION TO CAPITALIZE REPAIR AND MAINTENANCE COSTS UNDER REG. SEC. 1.263(A)-3(N). ACUS HOLDINGS LLC PO BOX 862998 TUSCALOOSA AL 35486 921706200 CUSO HOLDING COMPANY AL -341522 1255384 ALABAMA CREDIT UNION ACUSI LLC PO BOX 862998 TUSCALOOSA AL 35486 922648109 CUSO AL 15239364 16133227 ACUS HOLDINGS LLC ACU GROUP LLC PO BOX 862998 TUSCALOOSA AL 35486 922489584 CUSO AL 278096 382577 ACUS HOLDINGS LLC ALABAMA CU SERVICES INC PO BOX 862998 TUSCALOOSA AL 35486 203294739 FINANCIAL SERVICES AL ALABAMA CREDIT UNION C -709 2081866 1.00000 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 INTERCOMPANY LOAN WITH ALABAMA CU SERVICES INC E 1574003