Civic Intelligence

Max Credit Union

990 • Fiscal year 2018 • EIN 36-4618706

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 04, 2019

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

11th percentile

0.86x

Higher debt load relative to assets than 11% of similar nonprofits.

2018 filings • 501(c)14 • $1B+ nonprofits • Source year 2018

Liabilities / Revenue

39th percentile

17.02x

Higher debt load relative to revenue than 39% of similar nonprofits.

2018 filings • 501(c)14 • $1B+ nonprofits • Source year 2018

Net Margin

25th percentile

15%

Higher net margin than 25% of similar nonprofits.

2018 filings • 501(c)14 • $1B+ nonprofits • Source year 2018

Top Officer Pay

7th percentile

$488,365

Higher top officer pay than 7% of similar nonprofits.

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

2018 filings • 501(c)14 • $1B+ nonprofits • Source year 2018

Asset Growth

28th percentile

3.8%

Faster asset growth than 28% of similar nonprofits.

2018 filings • 501(c)14 • $1B+ nonprofits • Annualized from 2017 to 2018

Revenue Growth

12th percentile

8.4%

Faster revenue growth than 12% of similar nonprofits.

2018 filings • 501(c)14 • $1B+ nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets11th percentile

Assets

Up

$1,365,063,060

Up $49,646,306 (+3.8%) from 2017

Net Assets

Up

$186,858,858

Up $8,939,423 (+5.0%) from 2017

Liabilities

Up

$1,178,204,202

Up $40,706,883 (+3.6%) from 2017

Revenue And Expenses
Liabilities / Revenue39th percentileNet Margin25th percentile

Revenue

Up

$69,231,901

Up $5,373,094 (+8.4%) from 2017

Expenses

Up

$58,628,214

Up $4,080,785 (+7.5%) from 2017

Net Income

Up

$10,603,687

Up $1,292,309 (+14%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth28th 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

2018

Assets$1,365,063,060
Liabilities$1,178,204,202
Net Assets$186,858,858
Open 2018 Filing

Operations Trend

Revenue Growth12th 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

2018

Revenue$69,231,901
Expenses$58,628,214
Net Income$10,603,687
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 4, 2019
Return Version
2018v3.1
Gross Receipts
$99,270,170
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$795,104,620$877,444,861▲ $82,340,241
Investments in Publicly Traded Securities$353,850,931$319,905,168▼ $33,945,763
Rtn Earn Endowment Incm Other Fnds$177,919,435$186,858,858▲ $8,939,423
Savings and Temporary Cash Investments$59,340,936$59,384,864▲ $43,928
Land, Buildings, and Equipment, Net$33,810,672$35,664,599▲ $1,853,927
Cash and Non-Interest-Bearing Accounts$20,971,056$21,120,842▲ $149,786
Accounts Receivable$1,319,850$3,187,438▲ $1,867,588
Prepaid Expenses and Deferred Charges$1,875,985$2,325,188▲ $449,203
Investments Other Securities$1,161,100$1,226,400▲ $65,300
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$1,315,416,754$1,365,063,060▲ $49,646,306
Other Assets Total$47,981,604$44,803,700▼ $3,177,904
Liabilities
Other Liabilities$1,119,959,876$1,165,807,806▲ $45,847,930
Accounts Payable and Accrued Expenses$16,793,484$11,580,078▼ $5,213,406
Escrow Account Liability$743,959$816,318▲ $72,359
Total Liabilities$1,137,497,319$1,178,204,202▲ $40,706,883
Net Assets / Fund Balance
Total Net Assets Fund Balance$177,919,435$186,858,858▲ $8,939,423
Total Liabilities and Net Assets / Fund Balance$1,315,416,754$1,365,063,060▲ $49,646,306

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$18,167,489$17,421,879$35,589,368
Equipment$2,300,116$15,132,594$17,432,710
Land$10,792,415-$10,792,415
Other Land Buildings$4,404,579-$4,404,579
Leasehold Improvements$0$793,952$793,952
Compensation and Service Providers
Top Officer Pay7th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Greg McclellanTop Management OfficialFT$379,047$109,318$488,365
Tim MarquardtTop Financial OfficerFT$201,406$67,089$268,495
Martin Edward HeadSVP/CLOFT$175,884$89,869$265,753
Wayne BlackwellSVP/chief Retail OfficerFT$191,022$63,712$254,734
Scott LindleySVP/CIOFT$183,465$64,315$247,780
Cheryl PaysonSVP/chief Support OfficerFT$180,631$60,681$241,312
Bruce ChafinSVP Max CapitalFT$150,892$61,551$212,443
Kelli WiseDirector-$16,182-$16,182
Barbara T StarrVice Chariman-$16,001-$16,001
James W Solze JrDirector-$9,636-$9,636
K Sue JacksonSecretary-$2,762-$2,762

Board Members and Trustees

NameTitle
Keivan DeraviChairman
Daniel L DunawayVice Chairman-part Year
Gary TomlinDirector
John AverrettDirector
Lloyd Woodman JrDirector
Bradley L SandersTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
NewgroundContractor For New Building15450 SOUTH OUTER FORTY DRIVE STE 3, Chesterfield, MO 63017$3,546,438
PscuCredit And Debit Card Processor560 CARILLON PARKWAY, St Petersburg, FL 33716$2,257,891
Q2 SoftwareApp ServicingPO BOX 205970, Dallas, TX 75320-5970$843,937
Jack Henry & Associates INCCore It ProcessingPO BOX 609, Monett, MO 65708$806,309
Earthlink Business 1058Internet ServicesPO BOX 2252, Birmingham, AL 35246-1058$734,512
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$60,776,075
Investment Income
$8,455,826
Other Revenue
$0
Change in Net Assets
$10,603,687
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$27,183,457
Salaries, Compensation, and Employee Benefits$24,992,793
Grants and Similar Amounts Paid$12,100
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$18,237,945
Office Expenses---$11,750,475
Benefits to Members---$6,439,864
Other Employee Benefits---$3,284,338
Depreciation Depletion---$2,560,893
Advertising---$1,599,640
Pension Plan Contributions---$1,382,245
Occupancy---$1,352,449
Payroll Taxes---$1,286,824
Current Officers, Directors, Trustees, and Key Employees---$801,441
Fees for Services Accounting---$198,780
Other Expenses---$169,570
All Other Expenses---$150,046
Travel---$146,699
Conferences and Meetings---$116,757
Fees for Services Legal---$91,111
Grants to Domestic Orgs---$12,100
Interest---$450
Total Functional Expenses$0$0$0$58,628,214
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$1,164,470,842
Interest Payable on Deposits$1,336,964
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
2019-11-04
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
355
Volunteers
17

Preparer

Firm
Cliftonlarsonallen Llp
Address
109 N MAIN STREET SUITE 200, AUSTIN, MN 55912
Preparer
Tanya Medgaarden
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, 2018 and 2017. The credit union's 2015 through 2017 tax years are open for examination by federal and state taxing authorities.”

Raw XML AppendixShowing 400 of 677 raw XML fields

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/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1041402
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1137316
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1235484
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1336598
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1437073
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1534011
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1631588
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/PersonNm5KELLI WISE
IRS990/Form990PartVIISectionAGrp/PersonNm6LLOYD WOODMAN JR
IRS990/Form990PartVIISectionAGrp/PersonNm7KEIVAN DERAVI
IRS990/Form990PartVIISectionAGrp/PersonNm8GARY TOMLIN
IRS990/Form990PartVIISectionAGrp/PersonNm9JOHN AVERRETT
IRS990/Form990PartVIISectionAGrp/PersonNm10GREG MCCLELLAN
IRS990/Form990PartVIISectionAGrp/PersonNm11TIM MARQUARDT
IRS990/Form990PartVIISectionAGrp/PersonNm12WAYNE BLACKWELL
IRS990/Form990PartVIISectionAGrp/PersonNm13MARTIN EDWARD HEAD
IRS990/Form990PartVIISectionAGrp/PersonNm14SCOTT LINDLEY
IRS990/Form990PartVIISectionAGrp/PersonNm15CHERYL PAYSON
IRS990/Form990PartVIISectionAGrp/PersonNm16BRUCE CHAFIN
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt22762
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt39636
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt416001
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt516182
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10446963
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt11231179
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt12219250
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt13229155
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt14210707
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt15207301
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt16180855
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/ReportableCompFromRltdOrgAmt160
IRS990/Form990PartVIISectionAGrp/TitleTxt0TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE CHAIRMAN-PART YEAR
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4VICE CHARIMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10TOP MANAGEMENT OFFICIAL
IRS990/Form990PartVIISectionAGrp/TitleTxt11TOP FINANCIAL OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt12SVP/CHIEF RETAIL OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt13SVP/CLO
IRS990/Form990PartVIISectionAGrp/TitleTxt14SVP/CIO
IRS990/Form990PartVIISectionAGrp/TitleTxt15SVP/CHIEF SUPPORT OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt16SVP MAX CAPITAL
IRS990/Form990ProvidedToGvrnBodyInd00
IRS990/Form990TFiledInd01
IRS990/FormationYr01955
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/OtherAmt09433
IRS990/GainOrLossGrp/SecuritiesAmt087093
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt09
IRS990/GrantsToDomesticOrgsGrp/TotalAmt012100
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/OtherAmt09433
IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt030125362
IRS990/GrossReceiptsAmt099270170
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt09
IRS990/IndivRcvdGreaterThan100KCnt026
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InterestGrp/TotalAmt0450
IRS990/InvestmentIncomeGrp/ExclusionAmt08359300
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt08359300
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt01161100
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt01226400
IRS990/InvestmentsPubTradedSecGrp/BOYAmt0353850931
IRS990/InvestmentsPubTradedSecGrp/EOYAmt0319905168
IRS990/IRPDocumentCnt034568
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt033348425
IRS990/LandBldgEquipBasisNetGrp/BOYAmt033810672
IRS990/LandBldgEquipBasisNetGrp/EOYAmt035664599
IRS990/LandBldgEquipCostOrOtherBssAmt069013024
IRS990/LegalDomicileStateCd0AL
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt00
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt030038269
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd01
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0MAX IS A STATE-CHARTERED COMMUNITY CREDIT UNION SERVING APPROXIMATELY 111,000 MEMBERS IN THE MONTGOMERY, ALABAMA AND SURROUNDING AREAS.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt0177919435
IRS990/NetAssetsOrFundBalancesEOYAmt0186858858
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt096526
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt096526
IRS990/NetUnrelatedBusTxblIncmAmt0746600
IRS990/NetUnrlzdGainsLossesInvstAmt0-1664264
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/TotalAmt01352449
IRS990/OfficeExpensesGrp/TotalAmt011750475
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt047981604
IRS990/OtherAssetsTotalGrp/EOYAmt044803700
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt03284338
IRS990/OtherExpensesGrp/Desc0PROVISION FOR LOAN LOSS
IRS990/OtherExpensesGrp/Desc1LOAN SERVICING EXPENSE
IRS990/OtherExpensesGrp/Desc2MISC. OPERATING FEES
IRS990/OtherExpensesGrp/Desc3PROFESSIONAL/OUTSIDE SE
IRS990/OtherExpensesGrp/TotalAmt04488875
IRS990/OtherExpensesGrp/TotalAmt12705678
IRS990/OtherExpensesGrp/TotalAmt21852034
IRS990/OtherExpensesGrp/TotalAmt3169570
IRS990/OtherLiabilitiesGrp/BOYAmt01119959876
IRS990/OtherLiabilitiesGrp/EOYAmt01165807806
IRS990/OtherOrganizationDsc0CU
IRS990/OtherSalariesAndWagesGrp/TotalAmt018237945
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0795104620
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0877444861
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/TotalAmt01286824
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt01382245
IRS990/PoliciesReferenceChaptersInd01
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt01875985
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt02325188
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 OPERATING INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt037071077
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt112311376
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt29835563
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt038032841
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt112595621
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt210147613
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt0961764
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt1284245
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt2312050
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/PYBenefitsPaidToMembersAmt05265425
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt012250
IRS990/PYInvestmentIncomeAmt07660603
IRS990/PYOtherExpensesAmt026140988
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt056198204
IRS990/PYRevenuesLessExpensesAmt09311378
IRS990/PYSalariesCompEmpBnftPaidAmt023128766
IRS990/PYTotalExpensesAmt054547429
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt063858807
IRS990/ReconcilationRevenueExpnssAmt010603687
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0177919435
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0186858858
IRS990/SavingsAndTempCashInvstGrp/BOYAmt059340936
IRS990/SavingsAndTempCashInvstGrp/EOYAmt059384864
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/AgentTrusteeEtcInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt018167489
IRS990ScheduleD/BuildingsGrp/DepreciationAmt017421879
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt035589368
IRS990ScheduleD/EquipmentGrp/BookValueAmt02300116
IRS990ScheduleD/EquipmentGrp/DepreciationAmt015132594
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt017432710
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd01
IRS990ScheduleD/LandGrp/BookValueAmt010792415
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt010792415
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0793952
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0793952
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt04404579
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt04404579
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01164470842
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt11336964
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBER SHARES AND CERTIFICATES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1INTEREST PAYABLE ON DEPOSITS
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, 2018 AND 2017. THE CREDIT UNION'S 2015 THROUGH 2017 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IV, LINE 2B:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt035664599
IRS990ScheduleD/TotalLiabilityAmt01165807806
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/ClubDuesOrFeesInd0X

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,365,063,060
Liabilities
$1,178,204,202
Net assets
$186,858,858
Revenue
$69,231,901
Expenses
$58,628,214
Net income
$10,603,687
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
2018Detailed filing. Detailed filing data is available for this year.$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
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