2015-10-28T11:25:37-05:00 2014-12-31 461498870 BARFIELD MURPHY SHANK & SMITH LLC 1121 RIVERCHASE OFFICE RD BIRMINGHAM AL 35244 990 2014-01-01 630440014 ALABAMA CREDIT UNION ALAB 2053485944 PO BOX 862998 TUSCALOOSA AL 35486 STEPHEN K SWOFFORD PRESIDENT 2053485944 2015-10-15 1 CYNTHIA A HUDSON CPA P00029332 2059825500 2014 2016-02-25 16:41:14Z STEPHEN K SWOFFORD PO BOX 862998 TUSCALOOSA AL 35486 36533740 0 X WWW.ALABAMACU.COM X 1956 AL TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS 11 11 226 14 796905 0 0 0 12670214 13307154 5734118 5916421 8604858 9463118 27009190 28686693 0 0 0 0 8334167 8920335 0 0 0 13717443 14286897 22051610 23207232 4957580 5479461 619553836 654346128 563704565 589397005 55849271 64949123 TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS 0 0 61,572 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 13139 0 1 226 1 1 1 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 35486 GLADYS JONES CHAIRPERSON 1.00 X 0 0 0 LYNNE APRIL VICE-CHAIRPERSON 1.00 X 0 0 0 MARCUS JONES SECRETARY/TREASURER 1.00 X 0 0 0 THOMAS JONES DIRECTOR 1.00 X 0 0 0 THOMAS WEST DIRECTOR 1.00 X 0 0 0 REBA ESSARY DIRECTOR 1.00 X 0 0 0 FRANK DYKES DIRECTOR 1.00 X 0 0 0 MARK NELSON DIRECTOR 1.00 X 0 0 0 WILLIAM DARDEN DIRECTOR 1.00 X 0 0 0 RON DULEK DIRECTOR 1.00 X 0 0 0 CHARLOTTE HARRIS DIRECTOR 1.00 X 0 0 0 STEPHEN K SWOFFORD CEO/PRESIDENT 40.00 X 284166 0 42874 KAYCE M BELL COO 40.00 X 169672 0 23511 ELEANOR BROWN CFO 40.00 X 146215 0 33026 MICHAEL R SHULTS VP OF INFORMATION SYSTEMS 40.00 X 118810 0 18814 BENSON P BOLLING CHIEF LENDING OFFICER 40.00 X 123061 0 14829 MICHAEL GOODMAN CIO 40.00 X 154422 0 20322 996346 0 153376 6 0 1 0 LSCU CORP INC PO BOX 380428 BIRMINGHAM AL 352380428 AUDIT/CO-OP SERVICES 1060059 FUNDSXPRESS FINANCIAL NETWORK INC PO BOX 310464 DES MOINES IA 503310464 BILL PAY SERVICE 732506 FISERV PO BOX 300016 DULUTH GA 300960300 SYSTEM MAINTENANCE/DISASTER RECOVERY 726536 VELOCITY SOLUTIONS INC PO BOX 460939 FT LAUDERDALE FL 333460939 ARS/ICS PROGRAMS 660248 THIRD DEGREE ADVERTISING & COMMUNICATION 501 N WALKER SUITE 100 OKLAHOMA CITY OK 73102 ADVERTISING/MARKETING 482899 15 LOAN INTEREST INCOME 522130 13307154 13307154 13307154 5921053 587154 5333899 255357 255357 59364 0 59364 59364 59364 7649415 193000 7664813 182234 -15398 10766 -4632 2954 -7586 NSF ACCOUNT CHARGES 522130 4428665 4428665 INTERCHANGE ACCOUNT CHARGES 522130 2406392 2406392 CHECKING ACCOUNT CHARGES 522130 744039 744039 1569301 1362504 206797 9148397 28686693 22248754 796905 5641034 1149721 5501667 593769 1139142 536036 152773 145141 342503 610865 1494083 738188 820617 94225 213710 3308868 1232790 130513 CHECK & LOAN SERVICING 1204160 REPAIRS & MAINTENANCE 859207 ATM EXPENSE 725765 PROMOTION & EDUCATION 664043 1549446 23207232 11003893 11605206 41593826 39699493 2850000 5481670 266065724 280532680 1600850 1765779 33058226 10264021 20578782 22794205 12802771 16035325 249065227 260701746 152435 152435 13840328 15577589 619553836 654346128 3696693 3876377 29000000 19000000 531007872 566520628 563704565 589397005 X 0 0 0 0 55849271 64949123 55849271 64949123 619553836 654346128 X 5479461 2934490 685901 X X 0 0 0 7051672 7051672 17265381 3225774 14039607 8741173 7038247 1702926 22794205 GOVERNMENT MORTGAGE SECURITIES 260701746 F 260701746 MEMBER DEPOSITS 566520628 566520628 X X X 0 1 0 STEPHEN K SWOFFORD CEO/PRESIDENT 237047 0 26472 0 20647 0 34950 0 7924 0 327040 0 0 0 KAYCE M BELL COO 153188 0 13121 0 3363 0 17296 0 6215 0 193183 0 0 0 ELEANOR BROWN CFO 136250 0 9965 0 0 0 26585 0 6441 0 179241 0 0 0 MICHAEL GOODMAN CIO 137560 0 11579 0 5283 0 14032 0 6290 0 174744 0 0 0 PART I, LINE 4B NO PAYMENTS WERE RECEIVED DURING THE YEAR. THE FOLLOWING OFFICERS PARTICIPATED IN THE NONQUALIFIED RETIREMENT PLAN: STEPHEN SWOFFORD KAYCE BELL ELEANOR BROWN MICHAEL GOODMAN MICHAEL GOODMAN OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 90000 90000 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 KAYCE BELL OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 220000 220000 0 1 1 STEVE SWOFFORD OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 1440000 1440000 0 1 1 STEVE SWOFFORD OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 800000 800000 0 1 1 MICHAEL GOODMAN OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 90000 90000 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 KAYCE BELL OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 220000 220000 0 1 1 STEVE SWOFFORD OFFICER COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE X 800000 800000 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 5481670 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, LIMESTONE, MADISON, MARION, MARSHALL, MOBILE, MORGAN, 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 11 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 RELFECTS 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: SHORELINE MERGER EQUITY 685,901. 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, 2014 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, 2014 ALABAMA CREDIT UNION IS MAKING THE ELECTION TO CAPITALIZE REPAIR AND MAINTENANCE COSTS UNDER REG. SEC. 1.263(A)-3(N). ALABAMA CREDIT UNION SERVICES INC PO BOX 862998 TUSCALOOSA AL 35486 203294739 FINANCIAL SERVICES AL ALABAMA CREDIT UNION C -110 1000 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0