Civic Intelligence

Five Star Credit Union

EIN 58-0960142 • 501(c)14 • Dothan, AL

Profile

The credit union is a cooperative association which was organized to promote thrift among its members as well as to provide them with a source of credit. Five star serves members in counties in the southeast region of alabama and georgia. The total number of members served is in excess of 24,000.

5105 Montgomery HwyDothan, AL 36303

www.fivestarcu.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

90th percentile

0.93x

Higher debt load relative to assets than 90% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Source year 2024

Liabilities / Revenue

24th percentile

13.85x

Higher debt load relative to revenue than 24% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Source year 2024

Net Margin

32nd percentile

6.6%

Higher net margin than 32% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

99th percentile

49%

Faster asset growth than 99% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Annualized from 2023 to 2024

Revenue Growth

98th percentile

48%

Faster revenue growth than 98% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Annualized from 2023 to 2024

Assets

Up

$1,190,716,101

Up $392,197,138 (+49%) from 2023

Liabilities

Up

$1,109,799,629

Up $386,800,136 (+53%) from 2023

Net Assets

Up

$80,916,472

Up $5,397,002 (+7.1%) from 2023

Revenue

Up

$80,102,561

Up $25,980,938 (+48%) from 2023

Expenses

Up

$74,846,606

Up $32,934,564 (+79%) from 2023

Net Income

Down

$5,255,955

Down $6,953,626 (-57%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.5B$1.0B$500M$0Assets 2010: $173,707,519Liabilities 2010: $157,920,754Net Assets 2010: $15,786,7652010Assets 2011: $183,531,146Liabilities 2011: $164,454,967Net Assets 2011: $19,076,1792011Assets 2012: $251,608,110Liabilities 2012: $230,020,627Net Assets 2012: $21,587,4832012Assets 2013: $253,484,056Liabilities 2013: $229,789,049Net Assets 2013: $23,695,0072013Assets 2014: $317,649,991Liabilities 2014: $289,366,703Net Assets 2014: $28,283,2882014Assets 2015: $365,830,803Liabilities 2015: $333,480,999Net Assets 2015: $32,349,8042015Assets 2016: $384,613,764Liabilities 2016: $347,462,781Net Assets 2016: $37,150,9832016Assets 2017: $383,486,513Liabilities 2017: $340,347,985Net Assets 2017: $43,138,5282017Assets 2018: $434,524,436Liabilities 2018: $384,588,699Net Assets 2018: $49,935,7372018Assets 2019: $463,275,656Liabilities 2019: $402,847,992Net Assets 2019: $60,427,6642019Assets 2020: $557,122,826Liabilities 2020: $488,148,478Net Assets 2020: $68,974,3482020Assets 2021: $661,046,497Liabilities 2021: $585,967,942Net Assets 2021: $75,078,5552021Assets 2022: $748,664,965Liabilities 2022: $684,977,348Net Assets 2022: $63,687,6172022Assets 2023: $798,518,963Liabilities 2023: $722,999,493Net Assets 2023: $75,519,4702023Assets 2024: $1,190,716,101Liabilities 2024: $1,109,799,629Net Assets 2024: $80,916,4722024

Highlighted filing

2024

Assets$1,190,716,101
Liabilities$1,109,799,629
Net Assets$80,916,472

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$100M$50M$0Expenses 2010: $12,778,5502010Expenses 2011: $9,647,7112011Revenue 2012: $14,646,092Expenses 2012: $12,557,226Net Income 2012: $2,088,8662012Revenue 2013: $15,855,647Expenses 2013: $12,839,068Net Income 2013: $3,016,5792013Revenue 2014: $18,354,418Expenses 2014: $14,445,868Net Income 2014: $3,908,5502014Revenue 2015: $22,908,737Expenses 2015: $18,653,858Net Income 2015: $4,254,8792015Revenue 2016: $24,945,492Expenses 2016: $19,513,071Net Income 2016: $5,432,4212016Revenue 2017: $26,969,322Expenses 2017: $21,030,877Net Income 2017: $5,938,4452017Revenue 2018: $29,317,856Expenses 2018: $22,310,986Net Income 2018: $7,006,8702018Revenue 2019: $33,606,623Expenses 2019: $25,039,310Net Income 2019: $8,567,3132019Revenue 2020: $33,601,064Expenses 2020: $26,653,983Net Income 2020: $6,947,0812020Revenue 2021: $37,991,386Expenses 2021: $27,776,849Net Income 2021: $10,214,5372021Revenue 2022: $44,908,248Expenses 2022: $32,751,215Net Income 2022: $12,157,0332022Revenue 2023: $54,121,623Expenses 2023: $41,912,042Net Income 2023: $12,209,5812023Revenue 2024: $80,102,561Expenses 2024: $74,846,606Net Income 2024: $5,255,9552024

Highlighted filing

2024

Revenue$80,102,561
Expenses$74,846,606
Net Income$5,255,955

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,191$1,110$80.9$80.1$74.8$5.26
2023Summary only. Only limited summary data is available for this year.$799$723$75.5$54.1$41.9$12.2
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$749$685$63.7$44.9$32.8$12.2
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$661$586$75.1$38.0$27.8$10.2
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$557$488$69.0$33.6$26.7$6.95
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$463$403$60.4$33.6$25.0$8.57
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$435$385$49.9$29.3$22.3$7.01
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$383$340$43.1$27.0$21.0$5.94
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$385$347$37.2$24.9$19.5$5.43
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$366$333$32.3$22.9$18.7$4.25
2014Detailed filing. Detailed filing data is available for this year.$318$289$28.3$18.4$14.4$3.91
2013Detailed filing. Detailed filing data is available for this year.$253$230$23.7$15.9$12.8$3.02
2012Summary only. Only limited summary data is available for this year.$252$230$21.6$14.6$12.6$2.09
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$184$164$19.1$9.65
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$174$158$15.8$12.8
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 14, 2025
Return Version
2024v5.1
Gross Receipts
$93,539,140
Mission and Program Overview

Mission

The credit union is a cooperative association which was organized to promote thrift among its members as well as to provide them with a source of credit. Five star serves members in counties in the southeast region of alabama and georgia. The total number of members served is in excess of 35,000.

The credit union provides financial products and services to its members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$412,985,254$747,409,808▲ $334,424,554
Investments in Publicly Traded Securities$198,322,764$168,937,896▼ $29,384,868
Savings and Temporary Cash Investments$81,851,739$127,205,905▲ $45,354,166
Rtn Earn Endowment Incm Other Fnds$75,519,470$80,916,472▲ $5,397,002
Land, Buildings, and Equipment, Net$36,748,654$43,378,629▲ $6,629,975
Cash and Non-Interest-Bearing Accounts$15,305,652$19,121,874▲ $3,816,222
Receivables From Officers Etc$10,866,228$10,987,938▲ $121,710
Accounts Receivable$1,745,064$5,560,043▲ $3,814,979
Prepaid Expenses and Deferred Charges$1,755,576$2,395,976▲ $640,400
Investments Other Securities$12,913,276$1,758,031▼ $11,155,245
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$798,518,963$1,190,716,101▲ $392,197,138
Other Assets Total$26,024,756$63,960,001▲ $37,935,245
Liabilities
Other Liabilities$659,613,062$1,045,595,762▲ $385,982,700
Mortgage Notes Payable Secured by Investment Property$50,000,000$50,391,480▲ $391,480
Accounts Payable and Accrued Expenses$13,374,765$12,898,887▼ $475,878
Deferred Revenue$11,666$913,500▲ $901,834
Total Liabilities$722,999,493$1,109,799,629▲ $386,800,136
Net Assets / Fund Balance
Total Net Assets Fund Balance$75,519,470$80,916,472▲ $5,397,002
Total Liabilities and Net Assets / Fund Balance$798,518,963$1,190,716,101▲ $392,197,138

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$28,178,782$6,427,435$34,606,217
Equipment$5,691,121$8,120,787$13,811,908
Land$9,053,237-$9,053,237
Other Land Buildings$365,357$334,514$699,871
Leasehold Improvements$90,132$107,239$197,371
Other Assets Org$19,341,294--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Tyler BeckVice President/COOFT$344,038$708,120$1,052,158
Robert a SteensmaPresident/CEOFT$536,058$426,510$962,568
Landon WildesVP/CFOFT$223,077$175,941$399,018
Lance WagnerVP/CLOFT$224,039$153,787$377,826
Michael MachowiczVP/CIOFT$214,038$141,287$355,325
Fabio BiasellaSr Vice President/CMOFT$48,558$298,519$347,077
Kellie EldridgeVP-human ResourcesFT$158,654$136,577$295,231
Ann Marie CookVP-credit AdminFT$156,923$103,898$260,821
Mike BridgesVP-marketing/communicationFT$154,231$74,302$228,533
Candice WhiteMortgage Loan OriginatorFT$65,833$162,213$228,046
Patrick WendolekDirector of ProgrammingFT$148,077$61,512$209,589
Mindy RichburgVP-support & DevelopmentFT$121,500$80,274$201,774
Stacie GreenVP-retail Sales/ ServicesFT$128,692$57,325$186,017
Bobby LandwehrMarket PresidentFT$138,429$44,874$183,303
Deborah McraeVP Risk ManagementFT$134,817$7,217$142,034

Board Members and Trustees

NameTitle
Cory DriggersChairman
Whit HuskeyVice-chairman
Bobby SwannDirector
Harold SteplerDirector
Michael FarrisDirector
Pamela ScottDirector
Wallace JohnsonDirector
Suzann CulpepperSecretary
Janice GreenTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$44,860,243
Investment Income
$11,268,888
Other Revenue
$23,973,430
Change in Net Assets
$5,255,955

Audited Revenue Reconciliation

Revenue per Audited Statements
$80,102,561
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$80,102,561
Total Revenue per Form 990
$80,102,561
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$53,706,515
Salaries, Compensation, and Employee Benefits$20,855,632
Grants and Similar Amounts Paid$284,459
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest---$23,716,164
Other Salaries and Wages---$11,443,466
Other Employee Benefits---$3,494,227
Current Officers, Directors, Trustees, and Key Employees---$3,493,973
Depreciation Depletion---$2,931,503
All Other Expenses---$2,043,758
Office Expenses---$1,859,811
Information Technology---$1,801,385
Occupancy---$1,374,279
Payroll Taxes---$1,243,891
Pension Plan Contributions---$1,180,075
Fees for Services Other---$1,104,724
Other Expenses---$900,505
Advertising---$834,640
Travel---$505,126
Grants to Domestic Orgs---$284,459
Insurance---$257,889
Fees for Services Accounting---$170,434
Conferences and Meetings---$125,892
Fees for Services Legal---$84,773
Total Functional Expenses$0$0$0$74,846,606

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$74,846,606
Total Expenses per Audited Statements$74,846,606
Total Expenses per Form 990$74,846,606
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Five Star Credit Union FoundationDothan, AL501(c)(3)Continued Funding of Foundation$268,824
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

Reported Spending and Taxes

Line ItemAmount
Political Expenditures$2,500
Total Exempt Function Spending$1,000

Section 527 Organizations

OrganizationLocationAmount
52-1681138Birmingham, AL$1,000
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$10,866,228$10,987,938▲ $121,710
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Share Deposits$1,045,512,429
Interest Payable$83,333
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 35% controlled entity
No
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
No
Key decisions subject to board approval
No
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

Board members are elected by a vote of the general membership. Board members are elected for a three-year term. The term expirations alternate so that only two or three board members are up for reelection each year. The membership is notified of the election through notices in the branches and through mailed ballots. An independent teller service is hired to tabulate the results.

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

The 990 is reviewed by the coo and ceo prior to filing.

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

Compliance with the conflict of interest policy is monitored by the human resources manager.

Form 990, Part VI, Section B, Line 15

The board reviews and approves the ceo's compensation. Other management and key employees are graded using the compease salary administration plan matrix. The salary matrix for employees is reviewed each november based on current trends. The matrix is effective for the following calendar year. An employee's appraisal score correlates with the matrix to determine the increase. If there are any requests outside the matrix, the ceo must approve the request.

Form 990, Part VI, Section C, Line 19

The credit union's financial statements are posted in each of the branches monthly for members to review. Governing documents and policies are available upon request.

Filing and Contact Details

Filer

Filer Name
Five Star Credit Union
EIN
58-0960142
Phone
3347937714
Address
5105 MONTGOMERY HWY, DOTHAN, AL 36303

Signing Officer

Name
Robert a Steensma
Title
President/CEO
Phone
3347937714
Signed
2025-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert a Steensma
Formed
1964
Legal Domicile
Al
Voting Board Members
9
Independent Board Members
9
Employees
269
Volunteers
9

Preparer

Firm
Warren Averett LLC
Address
350 W CEDAR STREET SUITE 400, PENSACOLA, FL 32502
Preparer
Claire C Duren CPA
Phone
8504357400
Supplemental Narrative

Additional Explanations

Part XII, Financial Statements and Reporting, Line 2C

The credit union did not change its oversight process or selection process during the tax year.

Financial Statement Notes

PART X, LINE 2:

Effective january 1, 2009, the credit union implemented the new accounting requirements associated with uncertainty in income taxes using the provisions of financial accounting standards board (fasb) asc 740, income taxes. Using that guidance, tax positions initially need to be recognized in the financial statements when it is more-likely-than-not the positions will be sustained upon examination by the tax authorities. It also provides guidance for derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. As of december 31, 2024 and 2023, the credit union had no uncertain tax positions that qualify for either recognition or disclosure in the financial statements. Additionally, the credit union had no interest and penalties related to income taxes.

Raw XML AppendixShowing 400 of 834 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/PersonNm2HAROLD STEPLER
IRS990/Form990PartVIISectionAGrp/PersonNm3BOBBY SWANN
IRS990/Form990PartVIISectionAGrp/PersonNm4CORY DRIGGERS
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IRS990/Form990PartVIISectionAGrp/PersonNm22MINDY RICHBURG
IRS990/Form990PartVIISectionAGrp/PersonNm23PATRICK WENDOLEK
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IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt7TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt11SR VICE PRESIDENT/CMO
IRS990/Form990PartVIISectionAGrp/TitleTxt12VP/CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt13VP/CIO
IRS990/Form990PartVIISectionAGrp/TitleTxt14VP/CLO
IRS990/Form990PartVIISectionAGrp/TitleTxt15VP-RETAIL SALES/ SERVICES
IRS990/Form990PartVIISectionAGrp/TitleTxt16VP-CREDIT ADMIN
IRS990/Form990PartVIISectionAGrp/TitleTxt17VP-MARKETING/COMMUNICATION
IRS990/Form990PartVIISectionAGrp/TitleTxt18VP-HUMAN RESOURCES
IRS990/Form990PartVIISectionAGrp/TitleTxt19VP RISK MANAGEMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt20MARKET PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt21MORTGAGE LOAN ORIGINATOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22VP-SUPPORT & DEVELOPMENT
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IRS990/MissionDesc0THE CREDIT UNION IS A COOPERATIVE ASSOCIATION WHICH WAS ORGANIZED TO PROMOTE THRIFT AMONG ITS MEMBERS AS WELL AS TO PROVIDE THEM WITH A SOURCE OF CREDIT. FIVE STAR SERVES MEMBERS IN COUNTIES IN THE SOUTHEAST REGION OF ALABAMA AND IN SOUTHEAST AND SOUTHWEST GEORGIA. THE TOTAL NUMBER OF MEMBERS SERVED IS IN EXCESS OF 65,000.
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IRS990/ProgSrvcAccomActy2Grp/Desc0TO MEET THE FINANCIAL NEEDS OF OUR MEMBERS, FIVE STAR PROVIDES A SOURCE OF CREDIT BY OFFERING A VARIETY OF CONSUMER AND MORTGAGE LENDING PRODUCTS AT REASONABLE RATES OF INTEREST.
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IRS990ScheduleC/Section527PoliticalOrgGrp/EIN0521681138
IRS990ScheduleC/Section527PoliticalOrgGrp/OrganizationBusinessName/BusinessNameLine1Txt0STATE ACULAC
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IRS990ScheduleC/Section527PoliticalOrgGrp/USAddress/AddressLine1Txt022 INVERNESS PARKWAY STE 200

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