2012-10-01T12:07:11-05:00 2011-12-31 631077072 BARFIELD MURPHY SHANK & SMITH PC 1121 RIVERCHASE OFFICE RD BIRMINGHAM AL 35244 990 2011-01-01 630207315 ALABAMA TELCO CREDIT UNION ALAB 2059852836 ONE RIVERCHASE PARKWAY SOUTH BIRMINGHAM AL 35244 LINDA CENCULA 2059852836 2012-08-24 1 JACK KNIGHT CPA P00192609 2059825500 2011 2016-02-24 21:20:13Z X LINDA CENCULA ONE RIVERCHASE PARKWAY SOUTH BIRMINGHAM AL 35244 95251335 0 X WWW.ALATELCO.ORG X 1934 AL TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS 15 15 205 15 1200975 -69885 0 0 22291236 21125327 2814405 3192105 8858580 9078787 33964221 33396219 0 0 0 0 9164816 9639640 0 0 0 21307492 20325797 30472308 29965437 3491913 3430782 525983456 578574362 472698095 522775372 53285361 55798990 TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS. 0 0 54,106 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 16856 0 1 205 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 1.00 X 0 0 0 KEITH MILLING 1.00 X 0 0 0 JIM GUNN 1.00 X 0 0 0 NANCY MORGAN 1.00 X 0 0 0 DENNIS DEARING 1.00 X 0 0 0 DAN AUSTIN 1.00 X 0 0 0 LLOYD NIX 1.00 X 0 0 0 T B FLOURNOY 1.00 X 0 0 0 DEBORAH GIVEN 1.00 X 0 0 0 A M ROBERTSON 1.00 X 0 0 0 HENRY COOK 1.00 X 0 0 0 ROLAND COBURN 1.00 X 0 0 0 LOWELL BRYANT 1.00 X 0 0 0 TERRY DAVIS 1.00 X 0 0 0 CALVIN NELSON 1.00 X 0 0 0 LINDA RUETHEMANN 1.00 X 0 0 0 ROBERT KIRKLAND 1.00 X 0 0 0 LINDA CENCULA 48.00 X 258909 0 26288 WILLIAM R CHANCELLOR 48.00 X 142139 0 19279 KIM MURDOCH 48.00 X 131275 0 18627 LAURIE SHOOK 48.00 X 126237 0 18248 STANTON DAVIS 48.00 X 116643 0 17689 JUSTIN ORR 48.00 X 117273 0 17481 BRAD DISMUKES 48.00 X 150639 0 19817 PARKER STEELE 48.00 X 100683 0 13581 1143798 0 151010 8 0 1 0 Y MEDIA WORKS 3756 DUNBARTON DRIVE BIRMINGHAM AL 35223 MEDIA ADVERTISING 914243 JACK HENRY & ASSOCIATES INC 633 W HIGHWAY 60 MONETT MO 657088215 CORE PROCESSING SYSTEM 627410 LSCU CORPORATION INC PO BOX 380428 BIRMINGHAM AL 35238 PIN TRANSACTION PROCESSOR 270833 CUNA MUTUAL GROUP PO BOX 2964 MILWAUKEE WI 532012964 BOND INSURANCE, LOAN FORMS, SURETY BOND, 234687 ISREAL & ASSOCIATES INC 2730 19TH STREET SOUTH HOMEWOOD AL 35209 ARCHITECTURAL SERVICES 204325 12 LOAN INTEREST INCOME 522130 21125327 21125327 21125327 3053588 3053588 19128 19128 6657 6657 0 0 61972820 14156 61848459 0 124361 14156 138517 138517 NSF AND CHECK FEES 522130 4212089 4212089 CREDIT CARD FEES 522130 2737624 2737624 OTHER ACCOUNT FEES 522130 887372 887372 1222574 21599 1200975 9059659 33396219 28984011 1200975 3211233 1010088 6259508 533155 1345567 491322 40121 175092 47724 230575 1316468 1606786 818597 184495 70765 6069475 929727 177268 BAD DEBTS 2325271 CHECK AND LOAN SERVICIN 2202142 DATA PROCESSING 1368943 NSCUSIF STABILIZATION 1160820 1601528 29965437 5825309 11797292 58748539 50099354 330447421 327540648 2150074 2016736 35960163 8980626 16463885 26979537 102952909 148918702 394874 412449 272506 272506 8727939 10537138 525983456 578574362 5697081 7963239 467001014 514812133 472698095 522775372 X 0 0 0 0 53285361 55798990 53285361 55798990 525983456 578574362 X 3430782 -917153 X X 0 1 1 X 0 3861179 5801058 9662237 19561134 3666627 15894507 423760 416493 7267 6313032 4897506 1415526 26979537 ACCRUED BENEFITS 1583883 MEMBER DEPOSITS 513156625 DUE TO TFS, INC. 71625 514812133 33396219 29965437 3430782 -917153 -917153 2513629 33692758 312639 312639 33380119 16100 16100 33396219 30261976 312639 312639 29949337 16100 16100 29965437 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: 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 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, 2011 AND 2010, THE CREDIT UNION HAD NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE 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 2008 FOR FEDREAL AND STATE). PART XII, LINE 2D - OTHER ADJUSTMENTS: NET CONSOLIDATION OF TELCO FINANCIAL SERVICES, INC. 312,639. PART XII, LINE 4B - OTHER ADJUSTMENTS: EXPENSES NETTED INTO INCOME 16,100. PART XIII, LINE 2D - OTHER ADJUSTMENTS: NET CONSOLIDATION OF TELCO FINANCIAL SERVICES, INC. 312,639. PART XIII, LINE 4B - OTHER ADJUSTMENTS: EXPENSES NETTED INTO INCOME 16,100. X X X X 0 0 0 LINDA CENCULA 248909 0 10000 0 0 0 13039 0 13249 0 285197 0 0 0 WILLIAM R CHANCELLOR 136215 0 5924 0 0 0 7214 0 12065 0 161418 0 0 0 BRAD DISMUKES 114192 0 36447 0 0 0 9024 0 10793 0 170456 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 CREDIT UNION DOES NOT HAVE COMMITTEES WITH THE RESPONSIBILITY TO ACT ON BEHALF OF THE GOVERNING BODY. 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -917,153. PART XII, LINE 2C NO CHANGES HAVE OCCURRED IN THE PROCESS FROM THE PRIOR YEAR. TELCO FINANCIAL SERVICES INC PO BOX 360287 BIRMINGHAM AL 35236 202468342 FINANCIAL SERVICES AL N/A C 20573 82199 1.00000 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 TELCO FINANCIAL SERVICES A 6657 VALUE OF THE RENTAL SPACE TELCO FINANCIAL SERVICES K 211240 COST OF THE PERSONNEL TIME USED TELCO FINANCIAL SERVICES P 74169 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