Civic Intelligence

Max Credit Union

990 • Fiscal year 2016 • EIN 36-4618706

Jan 01, 2016 to Dec 31, 2016 • Filed on Sep 13, 2017

Organization ProfileWWW.MYMAX.COM

View Organization Page

PO Box 244040Montgomery, AL 36124-4040

(800) 776-6776

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

6th percentile

0.86x

Higher debt load relative to assets than 6% of similar nonprofits.

2016 filings • 501(c)14 • $1B+ nonprofits • Source year 2016

Liabilities / Revenue

26th percentile

17.56x

Higher debt load relative to revenue than 26% of similar nonprofits.

2016 filings • 501(c)14 • $1B+ nonprofits • Source year 2016

Net Margin

24th percentile

13%

Higher net margin than 24% of similar nonprofits.

2016 filings • 501(c)14 • $1B+ nonprofits • Source year 2016

Top Officer Pay

8th percentile

$461,251

Higher top officer pay than 8% of similar nonprofits.

Top officer pay equals 0.8% of source-year revenue.

2016 filings • 501(c)14 • $1B+ nonprofits • Source year 2016

Asset Growth

17th percentile

5.5%

Faster asset growth than 17% of similar nonprofits.

2016 filings • 501(c)14 • $1B+ nonprofits • Annualized from 2015 to 2016

Revenue Growth

5th percentile

2.6%

Faster revenue growth than 5% of similar nonprofits.

2016 filings • 501(c)14 • $1B+ nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets6th percentile

Assets

Up

$1,242,870,839

Up $64,671,158 (+5.5%) from 2015

Net Assets

Up

$170,241,006

Up $6,961,554 (+4.3%) from 2015

Liabilities

Up

$1,072,629,833

Up $57,709,604 (+5.7%) from 2015

Revenue And Expenses
Liabilities / Revenue26th percentileNet Margin24th percentile

Revenue

Up

$61,073,107

Up $1,537,439 (+2.6%) from 2015

Expenses

Up

$52,920,659

Up $2,089,090 (+4.1%) from 2015

Net Income

Down

$8,152,448

Down $551,651 (-6.3%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth17th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0B$2.0B$1.0B$0Assets 2010: $861,760,671Liabilities 2010: $738,242,591Net Assets 2010: $123,518,0802010Assets 2011: $913,542,767Liabilities 2011: $782,791,202Net Assets 2011: $130,751,5652011Assets 2012: $981,295,811Liabilities 2012: $838,849,330Net Assets 2012: $142,446,4812012Assets 2013: $1,034,932,163Liabilities 2013: $892,785,897Net Assets 2013: $142,146,2662013Assets 2014: $1,092,065,087Liabilities 2014: $934,973,511Net Assets 2014: $157,091,5762014Assets 2015: $1,178,199,681Liabilities 2015: $1,014,920,229Net Assets 2015: $163,279,4522015Assets 2016: $1,242,870,839Liabilities 2016: $1,072,629,833Net Assets 2016: $170,241,0062016Assets 2017: $1,315,416,754Liabilities 2017: $1,137,497,319Net Assets 2017: $177,919,4352017Assets 2018: $1,365,063,060Liabilities 2018: $1,178,204,202Net Assets 2018: $186,858,8582018Assets 2019: $1,460,586,194Liabilities 2019: $1,255,813,087Net Assets 2019: $204,773,1072019Assets 2020: $1,769,448,467Liabilities 2020: $1,547,841,679Net Assets 2020: $221,606,7882020Assets 2021: $2,021,706,470Liabilities 2021: $1,803,794,703Net Assets 2021: $217,911,7672021Assets 2022: $1,964,438,398Liabilities 2022: $1,824,298,110Net Assets 2022: $140,140,2882022Assets 2024: $2,149,434,453Liabilities 2024: $1,940,079,500Net Assets 2024: $209,354,9532024

Highlighted filing

2016

Assets$1,242,870,839
Liabilities$1,072,629,833
Net Assets$170,241,006
Open 2016 Filing

Operations Trend

Revenue Growth5th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$150M$100M$50M$0Expenses 2010: $43,063,6932010Expenses 2011: $40,411,7782011Expenses 2012: $43,034,6802012Revenue 2013: $55,116,384Expenses 2013: $48,175,602Net Income 2013: $6,940,7822013Revenue 2014: $57,625,876Expenses 2014: $46,902,404Net Income 2014: $10,723,4722014Revenue 2015: $59,535,668Expenses 2015: $50,831,569Net Income 2015: $8,704,0992015Revenue 2016: $61,073,107Expenses 2016: $52,920,659Net Income 2016: $8,152,4482016Revenue 2017: $63,858,807Expenses 2017: $54,547,429Net Income 2017: $9,311,3782017Revenue 2018: $69,231,901Expenses 2018: $58,628,214Net Income 2018: $10,603,6872018Revenue 2019: $74,745,325Expenses 2019: $63,321,492Net Income 2019: $11,423,8332019Revenue 2020: $78,182,943Expenses 2020: $67,246,495Net Income 2020: $10,936,4482020Revenue 2021: $76,797,432Expenses 2021: $60,006,358Net Income 2021: $16,791,0742021Revenue 2022: $81,267,225Expenses 2022: $62,954,777Net Income 2022: $18,312,4482022Revenue 2024: $123,834,123Expenses 2024: $100,536,448Net Income 2024: $23,297,6752024

Highlighted filing

2016

Revenue$61,073,107
Expenses$52,920,659
Net Income$8,152,448
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Sep 13, 2017
Return Version
2016v3.0
Gross Receipts
$178,058,652
Mission and Program Overview

Mission

Max is a state-chartered community credit union serving approximately 117,000 members in the montgomery, alabama and surrounding areas.

The credit union is a cooperative community financial institution which was organized to promote thrift among its members as well as to provide a source of credit for its members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$651,890,720$746,595,017▲ $94,704,297
Investments in Publicly Traded Securities-$330,796,293-
Rtn Earn Endowment Incm Other Fnds$163,279,452$170,241,006▲ $6,961,554
Savings and Temporary Cash Investments$51,710,000$58,426,970▲ $6,716,970
Land, Buildings, and Equipment, Net$31,522,262$35,767,609▲ $4,245,347
Cash and Non-Interest-Bearing Accounts$53,462,493$21,981,067▼ $31,481,426
Prepaid Expenses and Deferred Charges$1,627,427$1,761,976▲ $134,549
Accounts Receivable$1,190,552$1,216,732▲ $26,180
Investments Other Securities$343,008,462$1,102,900▼ $341,905,562
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$1,178,199,681$1,242,870,839▲ $64,671,158
Other Assets Total$43,787,765$45,222,275▲ $1,434,510
Liabilities
Other Liabilities$1,003,587,861$1,057,541,514▲ $53,953,653
Accounts Payable and Accrued Expenses$8,606,722$14,128,831▲ $5,522,109
Deferred Revenue$1,994,215--
Escrow Account Liability$731,431$959,488▲ $228,057
Total Liabilities$1,014,920,229$1,072,629,833▲ $57,709,604
Net Assets / Fund Balance
Total Net Assets Fund Balance$163,279,452$170,241,006▲ $6,961,554
Total Liabilities and Net Assets / Fund Balance$1,178,199,681$1,242,870,839▲ $64,671,158

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$17,075,601$15,432,384$32,507,985
Equipment$4,577,006$11,809,772$16,386,778
Land$11,134,095-$11,134,095
Other Land Buildings$2,994,021-$2,994,021
Leasehold Improvements$-13,114$799,079$785,965
Compensation and Service Providers
Top Officer Pay8th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Greg McclellanPresident/CEOFT$366,492$94,759$461,251
Martin Edward HeadSVP/CLOFT$207,049$59,740$266,789
Tim MarquardtSVP/CFOFT$191,247$63,949$255,196
Wayne BlackwellSVP/chief Retail OfficerFT$185,377$58,205$243,582
Scott LindleySVP/CIOFT$178,729$59,180$237,909
Cheryl PaysonSVP/chief Support OfficerFT$169,108$55,213$224,321
Bruce ChafinSVP Max Capital LeasingFT$142,717$62,720$205,437
K Sue JacksonSecretary-$10,591-$10,591
James W Solze JrDirector-$9,806-$9,806
A Kelli WiseDirector-$8,539-$8,539
Daniel L DunawayVice Chairman-$8,389-$8,389
Barbara T StarrTreasurer-$8,020-$8,020
Lloyd Woodman JrDirector-$7,995-$7,995
Bradley L SandersDirector-$7,830-$7,830

Board Members and Trustees

NameTitle
Keivan DeraviChairman
Gary TomlinDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
PscuCredit And Debit Card Processor560 CARILLON PARKWAY, St Petersburg, FL 33716$2,181,544
NewgroundConstructionPO BOX 6228, Carol Stream, IL 60197-6228$1,384,751
Diebold IncorporatedAtmPO BOX 643543, Pittsburg, PA 15264-3543$744,175
ProsysIt Support28545 NETWORK PLACE, Chicago, IL 60673-1285$572,303
Climate Services INCAc Maintenance596-F OLIVER ROAD, Montgomery, AL 36117$425,251
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$53,652,341
Investment Income
$7,420,766
Other Revenue
$0
Change in Net Assets
$8,152,448

Audited Revenue Reconciliation

Revenue per Audited Statements
$61,045,878
Revenue Not Reported on Financial Statements
$27,229
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$27,229
Total Revenue per Audited Statements
$61,045,878
Total Revenue per Form 990
$61,073,107
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$24,976,906
Salaries, Compensation, and Employee Benefits$23,028,693
Grants and Similar Amounts Paid$13,525
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$17,015,871
Office Expenses---$9,905,561
Benefits to Members---$4,901,535
Other Employee Benefits---$2,739,068
Depreciation Depletion---$2,462,918
Advertising---$1,613,512
Pension Plan Contributions---$1,251,751
Payroll Taxes---$1,244,386
Occupancy---$1,195,879
Current Officers, Directors, Trustees, and Key Employees---$777,617
Other Expenses---$184,582
Travel---$183,975
Conferences and Meetings---$172,302
Fees for Services Accounting---$151,431
All Other Expenses---$134,954
Fees for Services Legal---$66,124
Grants to Domestic Orgs---$13,525
Total Functional Expenses$0$0$0$52,920,659

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$52,920,659
Expenses per Audited Statements$52,893,430
Total Expenses per Audited Statements$52,893,430
Expenses Not Reported on Financial Statements$27,229
Other Expense Adjustments$27,229
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Shares and Certificates$1,056,705,995
Interest Payable on Deposits$835,519
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“The credit union is owned by its members.”

Form 990, Part VI, Section A, Line 7A

“The credit union board of directors consists of nine members nominated from the general membership. Each board member serves a term of three years. A nominating committee is appointed by the board each year to nominate at least one member to fill each vacancy. Nominations for vacancies may also be made by petition from the membership. The membership votes on the nominees.”

Form 990, Part VI, Section A, Line 7B

“Members must vote on the removal of members of the board of directors, approval to dissolve the credit union, and merger into another credit union.”

Form 990, Part VI, Section B, Line 11B

“The 990 is reviewed by the svp/cfo and ceo prior to filing.”

Form 990, Part VI, Section B, Line 12C

“If a conflict of interest is reported, human resources will investigate the situation and consult with the ceo to determine appropriate action.”

Form 990, Part VI, Section B, Line 15

“Max uses a credit union compensation system called compease through hr performance solutions to establish salary ranges. The compease system looks at surveys/comparability data and market data to establish ranges. Max also uses the ultipro talent management system to formally document ratings of individual performance. The performance score is part of a system to calculate the percentage used for the annual merit increase, based also on the current salary and position in range. The ceo signs off on all increases. The board of directors approves the annual salary for the ceo based on recommendations of the hr committee.”

Form 990, Part VI, Section C, Line 19

“Financial statements are posted in all branches on a monthly basis. Financial statements are also included in the annual report each year and distributed to everyone who comes to the annual meeting. In addition, our call report is available on the ncua's website on a quarterly basis.”

Filing and Contact Details

Filer

Filer Name
Max Credit Union
EIN
36-4618706
Phone
8007766776
Address
PO BOX 244040, MONTGOMERY, AL 36124-4040

Signing Officer

Name
Tim Marquardt
Title
SVP/CFO
Phone
8007766776
Signed
2017-09-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Greg Mcclellan
Formed
1955
Legal Domicile
Al
Voting Board Members
9
Independent Board Members
9
Employees
375
Volunteers
17

Preparer

Firm
Cliftonlarsonallen Llp
Address
PO BOX 217, AUSTIN, MN 55912
Preparer
Sherri Wessels
Phone
5074347000
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“The credit union has a supervisory committee consisting of three volunteers from its membership who assume the responsibility for the oversight of the financial statement audit and selection of the independent accountant.”

Financial Statement Notes

PART IV, LINE 2B:

“The credit union holds escrowed funds for payment of property taxes and homeowner's insurance as a service to our members who have mortgages with us.”

PART X, LINE 2:

“The credit union is exempt, under irc 501 (c) (14), from federal and state income taxes. Certain products and services provided by select state chartered credit unions have been deemed by the internal revenue service (irs), in technical advice memorandums (tams) released in 2007, to be unrelated to the specific entity's exempt purpose. As presented in the technical advice memorandums, the net taxable income from these products and services would be subject to income taxes. Credit unions have litigated against the irs positions noted in the tams and have been successful in having courts declare in 2009 and 2010 that revenue from insurance products sold to members, helping them protect their financial wellbeing, qualifies as exempt purpose income, contrary to the irs position in the tams. The credit union has filed tax returns in the past for activities it has deemed taxable. The taxing authorities have the ability to assess taxes, penalties and interest for any years for which no tax return was filed. In the opinion of management, any liability resulting from taxing authorities imposing income taxes on the net taxable income from activities potentially deemed to be unrelated to the credit union's exempt purpose is not expected to have a material effect on the credit union's financial position or results of operations. The credit union evaluated its tax positions and determined no uncertain tax positions exist as of december 31, 2016 and 2015. The credit union's 2013 through 2015 tax years are open for examination by federal and state taxing authorities.”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“Expenses reported in revenue section of audited f/s 27,229.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Expenses reported on revenue section of audited f/s 27,229.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
IRS990/Form990PartVIISectionAGrp/OfficerInd4X
IRS990/Form990PartVIISectionAGrp/OfficerInd5X
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt939691
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1033212
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1132233
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1232722
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1332257
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1428120
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1530894
IRS990/Form990PartVIISectionAGrp/PersonNm0BRADLEY L SANDERS
IRS990/Form990PartVIISectionAGrp/PersonNm1DANIEL L DUNAWAY
IRS990/Form990PartVIISectionAGrp/PersonNm2K SUE JACKSON
IRS990/Form990PartVIISectionAGrp/PersonNm3JAMES W SOLZE JR
IRS990/Form990PartVIISectionAGrp/PersonNm4BARBARA T STARR
IRS990/Form990PartVIISectionAGrp/PersonNm5A KELLI WISE
IRS990/Form990PartVIISectionAGrp/PersonNm6LLOYD WOODMAN JR
IRS990/Form990PartVIISectionAGrp/PersonNm7KEIVAN DERAVI
IRS990/Form990PartVIISectionAGrp/PersonNm8GARY TOMLIN
IRS990/Form990PartVIISectionAGrp/PersonNm9GREG MCCLELLAN
IRS990/Form990PartVIISectionAGrp/PersonNm10TIM MARQUARDT
IRS990/Form990PartVIISectionAGrp/PersonNm11WAYNE BLACKWELL
IRS990/Form990PartVIISectionAGrp/PersonNm12MARTIN EDWARD HEAD
IRS990/Form990PartVIISectionAGrp/PersonNm13SCOTT LINDLEY
IRS990/Form990PartVIISectionAGrp/PersonNm14BRUCE CHAFIN
IRS990/Form990PartVIISectionAGrp/PersonNm15CHERYL PAYSON
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt07830
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt18389
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt210591
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt39806
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt48020
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt58539
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt67995
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt9421560
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10221984
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt11211349
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt12234067
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt13205652
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt14177317
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt15193427
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt150
IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9PRESIDENT/CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt10SVP/CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt11SVP/CHIEF RETAIL OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt12SVP/CLO
IRS990/Form990PartVIISectionAGrp/TitleTxt13SVP/CIO
IRS990/Form990PartVIISectionAGrp/TitleTxt14SVP MAX CAPITAL LEASING
IRS990/Form990PartVIISectionAGrp/TitleTxt15SVP/CHIEF SUPPORT OFFICER
IRS990/Form990ProvidedToGvrnBodyInd00
IRS990/Form990TFiledInd01
IRS990/FormationYr01955
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/OtherAmt013493
IRS990/GainOrLossGrp/SecuritiesAmt0947389
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt09
IRS990/GrantsToDomesticOrgsGrp/TotalAmt013525
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/OtherAmt013493
IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt0117932934
IRS990/GrossReceiptsAmt0178058652
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt09
IRS990/IndivRcvdGreaterThan100KCnt027
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InvestmentIncomeGrp/ExclusionAmt06459884
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt06459884
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt0343008462
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt01102900
IRS990/InvestmentsPubTradedSecGrp/EOYAmt0330796293
IRS990/IRPDocumentCnt038345
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt028041235
IRS990/LandBldgEquipBasisNetGrp/BOYAmt031522262
IRS990/LandBldgEquipBasisNetGrp/EOYAmt035767609
IRS990/LandBldgEquipCostOrOtherBssAmt063808844
IRS990/LegalDomicileStateCd0AL
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt00
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt0116985545
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0MAX IS A STATE-CHARTERED COMMUNITY CREDIT UNION SERVING APPROXIMATELY106,000 MEMBERS IN THE MONTGOMERY, ALABAMA AND SURROUNDING AREAS.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt0163279452
IRS990/NetAssetsOrFundBalancesEOYAmt0170241006
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0960882
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0960882
IRS990/NetUnrelatedBusTxblIncmAmt0649606
IRS990/NetUnrlzdGainsLossesInvstAmt0-1190894
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/TotalAmt01195879
IRS990/OfficeExpensesGrp/TotalAmt09905561
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt043787765
IRS990/OtherAssetsTotalGrp/EOYAmt045222275
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt02739068
IRS990/OtherExpensesGrp/Desc0PROVISION FOR LOAN LOSS
IRS990/OtherExpensesGrp/Desc1LOAN SERVICING EXPENSE
IRS990/OtherExpensesGrp/Desc2MISC. OPERATING FEES
IRS990/OtherExpensesGrp/Desc3PROFESSIONAL/OUTSIDE SE
IRS990/OtherExpensesGrp/TotalAmt04401228
IRS990/OtherExpensesGrp/TotalAmt12304493
IRS990/OtherExpensesGrp/TotalAmt22199947
IRS990/OtherExpensesGrp/TotalAmt3184582
IRS990/OtherLiabilitiesGrp/BOYAmt01003587861
IRS990/OtherLiabilitiesGrp/EOYAmt01057541514
IRS990/OtherOrganizationDsc0CU
IRS990/OtherSalariesAndWagesGrp/TotalAmt017015871
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0651890720
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0746595017
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/TotalAmt01244386
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt01251751
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt01627427
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt01761976
IRS990/PrincipalOfficerNm0GREG MCCLELLAN
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1522100
IRS990/ProgramServiceRevenueGrp/BusinessCd2900099
IRS990/ProgramServiceRevenueGrp/Desc0LOAN INTEREST
IRS990/ProgramServiceRevenueGrp/Desc1FEE INCOME
IRS990/ProgramServiceRevenueGrp/Desc2OTHER OPEATING INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt030935859
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt111818320
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt29122110
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt031831249
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt112080129
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt29740963
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt0895390
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt1261809
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt2618853
IRS990/ProgSrvcAccomActy2Grp/Desc0TO MEET THE FINANCIAL NEEDS OF OUR MEMBERS, MAX PROVIDES A SOURCE OF CREDIT BY OFFERING A VARIETY OF CONSUMER, REAL ESTATE, AND BUSINESS LENDING PRODUCTS AT REASONABLE RATES OF INTEREST.
IRS990/ProgSrvcAccomActy3Grp/Desc0IN ADDITION TO THE SAVINGS AND LENDING PRODUCTS WE OFFER, MAX PROVIDES A VARIETY OF OTHER FINANCIAL SERVICES TO MEET THE NEEDS OF OUR MEMBERS.
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt0100616
IRS990/PYInvestmentIncomeAmt07292216
IRS990/PYOtherExpensesAmt030408707
IRS990/PYOtherRevenueAmt020815514
IRS990/PYProgramServiceRevenueAmt031427938
IRS990/PYRevenuesLessExpensesAmt08704099
IRS990/PYSalariesCompEmpBnftPaidAmt020322246
IRS990/PYTotalExpensesAmt050831569
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt059535668
IRS990/ReconcilationRevenueExpnssAmt08152448
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0163279452
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0170241006
IRS990/SavingsAndTempCashInvstGrp/BOYAmt051710000
IRS990/SavingsAndTempCashInvstGrp/EOYAmt058426970
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/AgentTrusteeEtcInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt017075601
IRS990ScheduleD/BuildingsGrp/DepreciationAmt015432384
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt032507985
IRS990ScheduleD/EquipmentGrp/BookValueAmt04577006
IRS990ScheduleD/EquipmentGrp/DepreciationAmt011809772
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt016386778
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt027229
IRS990ScheduleD/ExpensesSubtotalAmt052893430
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd01
IRS990ScheduleD/LandGrp/BookValueAmt011134095
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt011134095
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0-13114
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0799079
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0785965
IRS990ScheduleD/OtherExpensesNotIncludedAmt027229
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt02994021
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt02994021
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01056705995
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1835519
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBER SHARES AND CERTIFICATES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1INTEREST PAYABLE ON DEPOSITS
IRS990ScheduleD/OtherRevenuesNotIncludedAmt027229
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt027229
IRS990ScheduleD/RevenueSubtotalAmt061045878
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CREDIT UNION HOLDS ESCROWED FUNDS FOR PAYMENT OF PROPERTY TAXES AND HOMEOWNER'S INSURANCE AS A SERVICE TO OUR MEMBERS WHO HAVE MORTGAGES WITH US.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE CREDIT UNION IS EXEMPT, UNDER IRC 501 (C) (14), FROM FEDERAL AND STATE INCOME TAXES. CERTAIN PRODUCTS AND SERVICES PROVIDED BY SELECT STATE CHARTERED CREDIT UNIONS HAVE BEEN DEEMED BY THE INTERNAL REVENUE SERVICE (IRS), IN TECHNICAL ADVICE MEMORANDUMS (TAMS) RELEASED IN 2007, TO BE UNRELATED TO THE SPECIFIC ENTITY'S EXEMPT PURPOSE. AS PRESENTED IN THE TECHNICAL ADVICE MEMORANDUMS, THE NET TAXABLE INCOME FROM THESE PRODUCTS AND SERVICES WOULD BE SUBJECT TO INCOME TAXES. CREDIT UNIONS HAVE LITIGATED AGAINST THE IRS POSITIONS NOTED IN THE TAMS AND HAVE BEEN SUCCESSFUL IN HAVING COURTS DECLARE IN 2009 AND 2010 THAT REVENUE FROM INSURANCE PRODUCTS SOLD TO MEMBERS, HELPING THEM PROTECT THEIR FINANCIAL WELLBEING, QUALIFIES AS EXEMPT PURPOSE INCOME, CONTRARY TO THE IRS POSITION IN THE TAMS. THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR ACTIVITIES IT HAS DEEMED TAXABLE. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2016 AND 2015. THE CREDIT UNION'S 2013 THROUGH 2015 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2EXPENSES REPORTED IN REVENUE SECTION OF AUDITED F/S 27,229.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3EXPENSES REPORTED ON REVENUE SECTION OF AUDITED F/S 27,229.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IV, LINE 2B:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt035767609
IRS990ScheduleD/TotalExpensesPerForm990Amt052920659

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,242,870,839
Liabilities
$1,072,629,833
Net assets
$170,241,006
Revenue
$61,073,107
Expenses
$52,920,659
Net income
$8,152,448
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2,149$1,940$209$124$101$23.3
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,964$1,824$140$81.3$63.0$18.3
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2,022$1,804$218$76.8$60.0$16.8
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1,769$1,548$222$78.2$67.2$10.9
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,461$1,256$205$74.7$63.3$11.4
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1,365$1,178$187$69.2$58.6$10.6
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,315$1,137$178$63.9$54.5$9.31
2016Detailed filing. Detailed filing data is available for this year.$1,243$1,073$170$61.1$52.9$8.15
2015Detailed filing. Detailed filing data is available for this year.$1,178$1,015$163$59.5$50.8$8.70
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1,092$935$157$57.6$46.9$10.7
2013Detailed filing. Detailed filing data is available for this year.$1,035$893$142$55.1$48.2$6.94
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$981$839$142$43.0
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$914$783$131$40.4
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$862$738$124$43.1
Peer Organizations

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