Civic Intelligence

Max Credit Union

990 • Fiscal year 2017 • EIN 36-4618706

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 07, 2018

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

8th percentile

0.86x

Higher debt load relative to assets than 8% of similar nonprofits.

2017 filings • 501(c)14 • $1B+ nonprofits • Source year 2017

Liabilities / Revenue

33rd percentile

17.81x

Higher debt load relative to revenue than 33% of similar nonprofits.

2017 filings • 501(c)14 • $1B+ nonprofits • Source year 2017

Net Margin

31st percentile

15%

Higher net margin than 31% of similar nonprofits.

2017 filings • 501(c)14 • $1B+ nonprofits • Source year 2017

Top Officer Pay

7th percentile

$459,131

Higher top officer pay than 7% of similar nonprofits.

Top officer pay equals 0.7% of source-year revenue.

2017 filings • 501(c)14 • $1B+ nonprofits • Source year 2017

Asset Growth

34th percentile

5.8%

Faster asset growth than 34% of similar nonprofits.

2017 filings • 501(c)14 • $1B+ nonprofits • Annualized from 2016 to 2017

Revenue Growth

11th percentile

4.6%

Faster revenue growth than 11% of similar nonprofits.

2017 filings • 501(c)14 • $1B+ nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets8th percentile

Assets

Up

$1,315,416,754

Up $72,545,915 (+5.8%) from 2016

Net Assets

Up

$177,919,435

Up $7,678,429 (+4.5%) from 2016

Liabilities

Up

$1,137,497,319

Up $64,867,486 (+6.0%) from 2016

Revenue And Expenses
Liabilities / Revenue33rd percentileNet Margin31st percentile

Revenue

Up

$63,858,807

Up $2,785,700 (+4.6%) from 2016

Expenses

Up

$54,547,429

Up $1,626,770 (+3.1%) from 2016

Net Income

Up

$9,311,378

Up $1,158,930 (+14%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth34th 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

2017

Assets$1,315,416,754
Liabilities$1,137,497,319
Net Assets$177,919,435
Open 2017 Filing

Operations Trend

Revenue Growth11th 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

2017

Revenue$63,858,807
Expenses$54,547,429
Net Income$9,311,378
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 7, 2018
Return Version
2017v2.3
Gross Receipts
$167,265,485
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$746,595,017$795,104,620▲ $48,509,603
Investments in Publicly Traded Securities$330,796,293$353,850,931▲ $23,054,638
Rtn Earn Endowment Incm Other Fnds$170,241,006$177,919,435▲ $7,678,429
Savings and Temporary Cash Investments$58,426,970$59,340,936▲ $913,966
Land, Buildings, and Equipment, Net$35,767,609$33,810,672▼ $1,956,937
Cash and Non-Interest-Bearing Accounts$21,981,067$20,971,056▼ $1,010,011
Prepaid Expenses and Deferred Charges$1,761,976$1,875,985▲ $114,009
Accounts Receivable$1,216,732$1,319,850▲ $103,118
Investments Other Securities$1,102,900$1,161,100▲ $58,200
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$1,242,870,839$1,315,416,754▲ $72,545,915
Other Assets Total$45,222,275$47,981,604▲ $2,759,329
Liabilities
Other Liabilities$1,057,541,514$1,119,959,876▲ $62,418,362
Accounts Payable and Accrued Expenses$14,128,831$16,793,484▲ $2,664,653
Escrow Account Liability$959,488$743,959▼ $215,529
Total Liabilities$1,072,629,833$1,137,497,319▲ $64,867,486
Net Assets / Fund Balance
Total Net Assets Fund Balance$170,241,006$177,919,435▲ $7,678,429
Total Liabilities and Net Assets / Fund Balance$1,242,870,839$1,315,416,754▲ $72,545,915

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$18,794,709$16,459,394$35,254,103
Equipment$3,346,813$13,560,395$16,907,208
Land$10,792,415-$10,792,415
Other Land Buildings$876,735-$876,735
Leasehold Improvements$0$785,965$785,965
Compensation and Service Providers
Top Officer Pay7th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Greg McclellanTop Management OfficialFT$369,985$89,146$459,131
Tim MarquardtTop Financial OfficerFT$195,919$64,952$260,871
Martin Edward HeadSVP/CLOFT$171,916$85,316$257,232
Wayne BlackwellSVP/chief Retail OfficerFT$186,893$58,152$245,045
Scott LindleySVP/CIOFT$178,937$66,043$244,980
Ken PeavyVP/wealth ManagementFT$50,238$191,673$241,911
Cheryl PaysonSVP/chief Support OfficerFT$173,151$56,564$229,715
Barbara T StarrTreasurer-$16,664-$16,664
Bradley L SandersDirector-$14,168-$14,168
Daniel L DunawayVice Chairman-$12,375-$12,375
K Sue JacksonSecretary-$2,064-$2,064
A Kelli WiseDirector-$1,782-$1,782
James W Solze JrDirector-$1,136-$1,136
Gary TomlinDirector-$1,115-$1,115

Board Members and Trustees

NameTitle
Keivan DeraviChairman
Lloyd Woodman JrDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
PscuCredit And Debit Card Processor560 CARILLON PARKWAY, St Petersburg, FL 33716$2,257,891
Jack HenryIt SystemsPO BOX 609, Monett, MO 65708$784,186
Earthlink BusinessCommunicationsPO BOX 2252, Birmingham, AL 35246-1058$755,326
Q2 SoftwareIt SystemsPO BOX 205970, Dallas, TX 75320-5970$665,951
Diebold IncorporatedAtmsPO BOX 643543, Pittsburg, PA 15264-3543$592,215
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$56,198,204
Investment Income
$7,660,603
Other Revenue
$0
Change in Net Assets
$9,311,378

Audited Revenue Reconciliation

Revenue per Audited Statements
$63,910,008
Revenue Not Reported on Financial Statements
$-51,201
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$-51,201
Total Revenue per Audited Statements
$63,910,008
Total Revenue per Form 990
$63,858,807
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$26,140,988
Salaries, Compensation, and Employee Benefits$23,128,766
Grants and Similar Amounts Paid$12,250
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$17,633,080
Office Expenses---$10,849,063
Benefits to Members---$5,265,425
Depreciation Depletion---$2,831,904
Other Employee Benefits---$2,104,660
Advertising---$1,712,086
Pension Plan Contributions---$1,353,770
Payroll Taxes---$1,267,950
Occupancy---$1,235,307
Current Officers, Directors, Trustees, and Key Employees---$769,306
Conferences and Meetings---$175,640
Travel---$165,307
Other Expenses---$142,066
Fees for Services Accounting---$141,477
All Other Expenses---$92,481
Fees for Services Legal---$58,526
Grants to Domestic Orgs---$12,250
Total Functional Expenses$0$0$0$54,547,429

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$54,598,619
Total Expenses per Audited Statements$54,598,619
Total Expenses per Form 990$54,547,429
Expenses Not Reported on Form 990$0
Expenses Not Reported on Financial Statements$-51,190
Other Expense Adjustments$-51,190
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$1,118,861,796
Interest Payable on Deposits$1,098,080
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
2018-11-07
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
356
Volunteers
17

Preparer

Firm
Cliftonlarsonallen Llp
Address
PO BOX 217, AUSTIN, MN 55912
Preparer
Marty Lienau
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, 2017 and 2016. The credit union's 2014 through 2016 tax years are open for examination by federal and state taxing authorities.”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“Revenue reported in expense section of audited f/s -51,201.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Revenue reported in expense section of audited f/s -51,190.”

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IRS990/Form990PartVIISectionAGrp/OfficerInd4X
IRS990/Form990PartVIISectionAGrp/OfficerInd5X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
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/OtherCompensationAmt939586
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1035619
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1133966
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1235043
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1334644
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1435676
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1532224
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/PersonNm14KEN PEAVY
IRS990/Form990PartVIISectionAGrp/PersonNm15CHERYL PAYSON
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt014168
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt112375
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt22064
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt31136
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt416664
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt51782
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt81115
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt9419545
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10225252
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt11211079
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt12222189
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt13210336
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt14206235
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt15197491
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/TitleTxt9TOP MANAGEMENT OFFICIAL
IRS990/Form990PartVIISectionAGrp/TitleTxt10TOP FINANCIAL OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt11SVP/CHIEF RETAIL OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt12SVP/CLO
IRS990/Form990PartVIISectionAGrp/TitleTxt13SVP/CIO
IRS990/Form990PartVIISectionAGrp/TitleTxt14VP/WEALTH MANAGEMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt15SVP/CHIEF SUPPORT OFFICER
IRS990/Form990ProvidedToGvrnBodyInd00
IRS990/Form990TFiledInd01
IRS990/FormationYr01955
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/OtherAmt06276
IRS990/GainOrLossGrp/SecuritiesAmt0328981
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt09
IRS990/GrantsToDomesticOrgsGrp/TotalAmt012250
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/OtherAmt09956
IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt0103731979
IRS990/GrossReceiptsAmt0167265485
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt09
IRS990/IndivRcvdGreaterThan100KCnt023
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InvestmentIncomeGrp/ExclusionAmt07325346
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt07325346
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt01102900
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt01161100
IRS990/InvestmentsPubTradedSecGrp/BOYAmt0330796293
IRS990/InvestmentsPubTradedSecGrp/EOYAmt0353850931
IRS990/IRPDocumentCnt039707
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt030805754
IRS990/LandBldgEquipBasisNetGrp/BOYAmt035767609
IRS990/LandBldgEquipBasisNetGrp/EOYAmt033810672
IRS990/LandBldgEquipCostOrOtherBssAmt064616426
IRS990/LegalDomicileStateCd0AL
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt03680
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt0103402998
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd01
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0MAX IS A STATE-CHARTERED COMMUNITY CREDIT UNION SERVING APPROXIMATELY108,000 MEMBERS IN THE MONTGOMERY, ALABAMA AND SURROUNDING AREAS.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt0170241006
IRS990/NetAssetsOrFundBalancesEOYAmt0177919435
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0335257
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0335257
IRS990/NetUnrelatedBusTxblIncmAmt0324434
IRS990/NetUnrlzdGainsLossesInvstAmt0-1632949
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/TotalAmt01235307
IRS990/OfficeExpensesGrp/TotalAmt010849063
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt045222275
IRS990/OtherAssetsTotalGrp/EOYAmt047981604
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt02104660
IRS990/OtherExpensesGrp/Desc0PROVISION FOR LOAN LOSS
IRS990/OtherExpensesGrp/Desc1LOAN SERVICING EXPENSE
IRS990/OtherExpensesGrp/Desc2MISC. OPERATING FEES
IRS990/OtherExpensesGrp/Desc3OPERATING FEES
IRS990/OtherExpensesGrp/TotalAmt04741229
IRS990/OtherExpensesGrp/TotalAmt12478475
IRS990/OtherExpensesGrp/TotalAmt21517427
IRS990/OtherExpensesGrp/TotalAmt3142066
IRS990/OtherLiabilitiesGrp/BOYAmt01057541514
IRS990/OtherLiabilitiesGrp/EOYAmt01119959876
IRS990/OtherOrganizationDsc0CU
IRS990/OtherSalariesAndWagesGrp/TotalAmt017633080
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0746595017
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0795104620
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/TotalAmt01267950
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt01353770
IRS990/PoliciesReferenceChaptersInd01
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt01761976
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt01875985
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/RelatedOrExemptFuncIncomeAmt033242886
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt111745420
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt29416249
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt034246617
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt112023179
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt29928408
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt01003731
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt1277759
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt2512159
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/PYBenefitsPaidToMembersAmt04901535
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt013525
IRS990/PYInvestmentIncomeAmt07420766
IRS990/PYOtherExpensesAmt024976906
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt053652341
IRS990/PYRevenuesLessExpensesAmt08152448
IRS990/PYSalariesCompEmpBnftPaidAmt023028693
IRS990/PYTotalExpensesAmt052920659
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt061073107
IRS990/ReconcilationRevenueExpnssAmt09311378
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0170241006
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0177919435
IRS990/SavingsAndTempCashInvstGrp/BOYAmt058426970
IRS990/SavingsAndTempCashInvstGrp/EOYAmt059340936
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/AgentTrusteeEtcInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt018794709
IRS990ScheduleD/BuildingsGrp/DepreciationAmt016459394
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt035254103
IRS990ScheduleD/EquipmentGrp/BookValueAmt03346813
IRS990ScheduleD/EquipmentGrp/DepreciationAmt013560395
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt016907208
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0-51190
IRS990ScheduleD/ExpensesSubtotalAmt054598619
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd01
IRS990ScheduleD/LandGrp/BookValueAmt010792415
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt010792415
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0785965
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0785965
IRS990ScheduleD/OtherExpensesNotIncludedAmt0-51190
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0876735
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0876735
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01118861796
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt11098080
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBER SHARES AND CERTIFICATES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1INTEREST PAYABLE ON DEPOSITS
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0-51201
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0-51201
IRS990ScheduleD/RevenueSubtotalAmt063910008
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, 2017 AND 2016. THE CREDIT UNION'S 2014 THROUGH 2016 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2REVENUE REPORTED IN EXPENSE SECTION OF AUDITED F/S -51,201.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3REVENUE REPORTED IN EXPENSE SECTION OF AUDITED F/S -51,190.
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/TotalBookValueLandBuildingsAmt033810672

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,315,416,754
Liabilities
$1,137,497,319
Net assets
$177,919,435
Revenue
$63,858,807
Expenses
$54,547,429
Net income
$9,311,378
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
2017Detailed filing. Detailed filing data is available for this year.$1,315$1,137$178$63.9$54.5$9.31
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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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