2014-10-28T15:49:39-05:00 2013-12-31 461498870 BARFIELD MURPHY SHANK & SMITH LLC 1121 RIVERCHASE OFFICE RD BIRMINGHAM AL 35244 990 2013-01-01 630207315 ALABAMA TELCO CREDIT UNION ALAB 2059852836 ONE RIVERCHASE PARKWAY SOUTH BIRMINGHAM AL 35244 LINDA CENCULA CEO 2059852836 2014-10-07 1 CYNTHIA A HUDSON CPA P00029332 2059825500 2013 2015-11-30 17:44:51Z LINDA CENCULA ONE RIVERCHASE PARKWAY SOUTH BIRMINGHAM AL 35244 99165377 0 X WWW.ALATELCO.ORG X 1934 AL TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS 15 15 225 15 37365 0 0 0 20058510 19866084 3348155 2348285 9512545 9830046 32919210 32044415 0 0 0 0 9961053 10486135 0 0 0 18550193 17824826 28511246 28310961 4407964 3733454 595515946 599008780 535572921 535167591 59943025 63841189 TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS. 0 0 63,961 MEMBERS SERVED TO PROMOTE THRIFT OPPORTUNITIES AND LOW COST LOANS 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 14291 0 1 225 1 1 1 0 0 0 0 0 X 15 15 0 0 0 0 1 1 1 1 0 0 1 1 1 1 1 1 1 1 1 0 0 X LAURIE SHOOK 2059852836 ONE RIVERCHASE PARKWAY SOUTH BIRMINGHAM AL 35244 GARY CANNADY CHAIRMAN 1.00 X 0 0 0 KEITH MILLING DIRECTOR 1.00 X 0 0 0 JIM GUNN TREASURER 1.00 X 0 0 0 NANCY MORGAN SECRETARY 1.00 X 0 0 0 DENNIS DEARING VICE CHAIRMAN 1.00 X 0 0 0 ANDREW AUSTIN DIRECTOR 1.00 X 0 0 0 LLOYD NIX DIRECTOR 1.00 X 0 0 0 DEBORAH GIVEN DIRECTOR 1.00 X 0 0 0 A M ROBERTSON DIRECTOR 1.00 X 0 0 0 ROLAND COBURN DIRECTOR 1.00 X 0 0 0 LOWELL BRYANT DIRECTOR 1.00 X 0 0 0 TERRY DAVIS DIRECTOR 1.00 X 0 0 0 CALVIN NELSON DIRECTOR 1.00 X 0 0 0 LINDA RUETHEMANN DIRECTOR 1.00 X 0 0 0 ROBERT KIRKLAND DIRECTOR 1.00 X 0 0 0 LINDA CENCULA CEO 48.00 X 277294 0 37484 WILLIAM R CHANCELLOR SR VP LENDING & COLLECTION 48.00 X 152634 0 35689 KIM MURDOCH SR VP OPERATIONS 48.00 X 142481 0 41650 LAURIE SHOOK SR VP CONTROLLER 48.00 X 136963 0 59879 STANTON DAVIS VP MARKETING 48.00 X 126652 0 30241 JUSTIN ORR CIO/SVP INFORMATION TECHNOL 48.00 X 128780 0 28809 PARKER STEELE VP/LEGAL COUNSEL 48.00 X 137931 0 29300 BRAD DISMUKES MEMBER'S FINANCIAL REP 48.00 X 152902 0 29627 1255637 0 292679 8 0 1 0 Y MEDIA WORKS 3756 DUNBARTON DRIVE BIRMINGHAM AL 35223 ADVERTISING 1246483 JACK HENRY & ASSOCIATES INC PO BOX 609 MONETT MO 65708 CORE PROCESSING SYSTEM 378955 LSCU CORPORATION INC PO BOX 380428 BIRMINGHAM AL 35238 TRANSACTION PROCESSOR 335647 AUTO EXAM 11449 GULF FREEWAY HOUSTON TX 77034 AUTO WARRANTY 270219 CUNA MUTUAL GROUP PO BOX 2964 MILWAUKEE WI 53201 BOND INS, LOAN FORMS, SURETY BOND 226392 14 LOAN INTEREST INCOME 522130 19866084 19866084 19866084 1972852 1972852 25057 25057 9728 9728 0 65354091 2132576 64891009 2220225 463082 -87649 375433 375433 NSF AND CHECK FEES 522130 4164316 4164316 CREDIT CARD FEES 522130 3240171 3240171 OTHER ACCOUNT FEES 522130 2270033 2270033 130469 93104 37365 9804989 32044415 29633708 37365 2373342 1365788 6611287 635916 1346606 526538 133398 197092 40000 20925 1617675 2021683 1596716 890791 197619 93961 3597858 937862 208318 CHECK AND LOAN SERVICIN 2353015 BAD DEBTS 2026620 OTHER OPERATING EXPENSE 576963 NSCUSIF STABILIZATION 409533 904797 28310961 11265138 10492722 50877508 58103302 339514106 356070817 2407148 2523306 36031267 7936656 28482737 28094611 152298109 131585446 436223 523543 272506 245255 9962471 11369778 595515946 599008780 6284942 4394704 529287979 530772887 535572921 535167591 X 0 0 0 0 59943025 63841189 59943025 63841189 595515946 599008780 X 3733454 -2243872 2408582 X X 0 1 X 1 0 3861179 6770507 10631686 17591159 1789414 15801745 414196 409842 4354 7394226 5737400 1656826 28094611 ACCRUED BENEFITS 1491065 MEMBER DEPOSITS 529042018 DUE TFS, INC. 239804 530772887 X 32509044 497205 497205 32011839 32576 32576 32044415 28775590 497205 497205 28278385 32576 32576 28310961 PART X, LINE 2: THE CREDIT UNION IS EXEMPT BY STATUTE FROM FEDERAL AND STATE INCOME TAXES EXCEPT FOR CERTAIN PRODUCTS AND SERVICES FOR WHICH THE NET TAXABLE INCOME IS SUBJECT TO INCOME TAXES UNDER THE UNRELATED BUSINESS INCOME TAX (UBIT) REGULATIONS. TAX POSITIONS INITIALLY NEED TO BE RECOGNIZED IN THE CONSOLIDATED FINANCIAL STATEMENTS WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION BY THE TAX AUTHORITIES. AS OF DECEMBER 31, 2013 AND 2012, THE CREDIT UNION HAD NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS BASED ON AN ASSESSMENT OF MANY FACTORS INCLUDING EXPERIENCE AND INTERPRETATIONS OF TAX LAWS APPLIED TO THE FACTS OF EACH MATTER FOR ALL OPEN TAX YEARS (AFTER 2009 FOR FEDERAL AND STATE). PART XI, LINE 2D - OTHER ADJUSTMENTS: NET CONSOLIDATION OF TELCO FINANCIAL SERVICES, INC. 497,205. PART XI, LINE 4B - OTHER ADJUSTMENTS: OTHER GAINS 32,576. PART XII, LINE 2D - OTHER ADJUSTMENTS: NET CONSOLIDATION OF TELCO FINANCIAL SERVICES, INC. 497,205. PART XII, LINE 4B - OTHER ADJUSTMENTS: OTHER GAINS 32,576. X X X X 0 0 0 LINDA CENCULA CEO 257294 0 20000 0 0 0 13980 0 23504 0 314778 0 0 0 WILLIAM R CHANCELLOR SR VP LENDING & COLLECTION 145392 0 7242 0 0 0 21852 0 13837 0 188323 0 0 0 KIM MURDOCH SR VP OPERATIONS 135710 0 6771 0 0 0 27925 0 13725 0 184131 0 0 0 LAURIE SHOOK SR VP CONTROLLER 130451 0 6512 0 0 0 46227 0 13652 0 196842 0 0 0 STANTON DAVIS VP MARKETING 120636 0 6016 0 0 0 16708 0 13533 0 156893 0 0 0 JUSTIN ORR CIO/SVP INFORMATION TECHNOL 122693 0 6087 0 0 0 15523 0 13286 0 157589 0 0 0 PARKER STEELE VP/LEGAL COUNSEL 131432 0 6499 0 0 0 15935 0 13365 0 167231 0 0 0 BRAD DISMUKES MEMBER'S FINANCIAL REP 47498 0 105404 0 0 0 17121 0 12506 0 182529 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 ALABAMA TELCO CREDIT UNION IS A NON-PROFIT FINANCIAL INSTITUTION THAT IS OWNED AND OPERATED BY ITS MEMBERS. IN ORDER TO BECOME A MEMBER OF THE CREDIT UNION, AN INDIVIDUAL CAN MEET ANY OF THE ELIGIBILITY REQUIREMENTS BELOW: -IF YOU LIVE, WORK, WORSHIP OR ATTEND SCHOOL IN THE FOLLOWING COUNTIES; AUTAUGA, BALDWIN, CALHOUN, COFFEE, ELMORE, GENEVA, HOUSTON, JEFFERSON, MADISON, MOBILE, MONTGOMERY, PIKE, SHELBY, ST. CLAIR, TALLADEGA, OR TUSCALOOSA. -IF YOU ARE AN EMPLOYEE OF AN ALABAMA TELCO SELECT EMPLOYEE GROUP. -IF YOU ARE RELATED BY BLOOD OR MARRIAGE TO MEMBERS OF ALABAMA TELCO CREDIT UNION. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE CREDIT UNION ELECT BOARD MEMBERS AT THEIR ANNUAL MEETING. ANY OPEN POSITIONS ON THE BOARD ARE FILLED AT THIS TIME. IN ORDER FOR A BOARD MEMBER TO BE ELECTED A QUORUM MUST BE PRESENT AT THE MEETING. FORM 990, PART VI, SECTION A, LINE 7B BYLAW CHANGES ARE VOTED ON BY MEMBERS. FORM 990, PART VI, SECTION A, LINE 8B THE EXECUTIVE COMMITTEE CAN MAKE SOME DECISIONS ON BEHALF OF THE GOVERNING BODY UNDER SPECIAL CIRCUMSTANCES. THERE WAS NO FORMAL MEETING OF THE EXECUTIVE COMMITTEE IN 2013. 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 THE CONFLICT OF INTEREST POLICY IS MONITORED THROUGH THE REQUIREMENTS OF THE PERSONNEL POLICY FOR EMPLOYEES. THIS POLICY REQUIRES THAT ANY CONFLICT OF INTEREST OR POTENTIAL CONFLICT OF INTEREST BE REPORTED IN WRITING TO THE PRESIDENT OF THE CREDIT UNION WHETHER THE CONFLICT ARISES FROM ACTIONS OF AN EMPLOYEE, DIRECTOR OR OFFICIAL OF THE CREDIT UNION OR FROM A FAMILY MEMBER OF ANY EMPLOYEE, DIRECTOR OR OFFICIAL OF THE CREDIT UNION. BOARD AND COMMITTEE MEMBERS MUST COMPLETE AN ANNUAL DISCLOSURE STATEMENT. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF DIRECTORS REVIEW THE CEO'S SALARY ON AN ANNUAL BASIS. THE BOARD REVIEWS THE PERFORMANCE OF THE CEO WHILE TAKING INTO ACCOUNT THE OVERALL PERFORMANCE OF THE CREDIT UNION. ADDITIONALLY, THE BOARD USES "CUES" COMPENSATION SURVEYS IN CONJUNCTION WITH COMPEASE DATA, WHICH PROVIDES INDEPENDENT COMPARABLE SALARY DATA FOR THE DELIBERATION AND DECISION MAKING PROCESS. COMPENSATION FOR OTHER OFFICERS, KEY EMPLOYEES & MANAGEMENT OFFICIALS IS DETERMINED ON A YEARLY BASIS BY THE CEO. THE CEO USES SIMILAR SALARY SURVEY DATA WHILE TAKING INTO CONSIDERATION THE TYPE OF WORK PERFORMED, SUPERVISOR PERFORMANCE EVALUATIONS, AND THE OVERALL PERFORMANCE OF THE CREDIT UNION. 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: PENSION ADJUSTMENT 2,408,582. PART XII, LINE 2C NO CHANGES HAVE OCCURRED IN THE PROCESS FROM THE PRIOR YEAR. TELCO FINANCIAL SERVICES INC PO BOX 360287 BIRMINGHAM AL 35244 202468342 FINANCIAL SERVICES AL N/A C 115545 245661 1.00000 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 TELCO FINANCIAL SERVICES A 9728 VALUE OF THE RENTAL SPACE TELCO FINANCIAL SERVICES L 258745 COST OF THE PERSONNEL TIME USED TELCO FINANCIAL SERVICES Q 113187 COST OF THE EXPENSE SCH R, PART V, LINE 2: LINE 1 - RENTAL PAYMENTS FOR OFFICE SPACE LINE 2- MANAGEMENT FEES PAID FOR SERVICES LINE 3 - OTHER REIMBURSED EXPENSES