Civic Intelligence

Alatrust Credit Union

990 • Fiscal year 2012 • EIN 63-0021787

Jan 01, 2012 to Dec 31, 2012 • Filed on May 13, 2013

Organization ProfileWWW.ALATRUSTCU.COM

View Organization Page

PO Box 3648935236
Siviq Scores

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

Liabilities / Assets

29th percentile

0.88x

Higher debt load relative to assets than 29% of similar nonprofits.

2012 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2012

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2012

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2012

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2012

Asset Growth

61st percentile

6.1%

Faster asset growth than 61% of similar nonprofits.

2012 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2011 to 2012

Revenue Growth

Score unavailable

No value available

No valid filing value is available for this score.

Balance Sheet
Liabilities / Assets29th percentile

Assets

Up

$124,433,709

Up $7,203,903 (+6.1%) from 2011

Net Assets

Up

$15,507,788

Up $1,126,101 (+7.8%) from 2011

Liabilities

Up

$108,925,921

Up $6,077,802 (+5.9%) from 2011

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

-

No earlier filing loaded for comparison.

Expenses

Down

$5,789,231

Down $382,769 (-6.2%) from 2011

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth61st percentile

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

$300M$200M$100M$0Assets 2010: $110,994,726Liabilities 2010: $95,771,043Net Assets 2010: $15,223,6832010Assets 2011: $117,229,806Liabilities 2011: $102,848,119Net Assets 2011: $14,381,6872011Assets 2012: $124,433,709Liabilities 2012: $108,925,921Net Assets 2012: $15,507,7882012Assets 2013: $130,592,656Liabilities 2013: $115,154,322Net Assets 2013: $15,438,3342013Assets 2014: $129,158,517Liabilities 2014: $113,284,533Net Assets 2014: $15,873,9842014Assets 2015: $132,551,766Liabilities 2015: $116,604,063Net Assets 2015: $15,947,7032015Assets 2016: $132,941,820Liabilities 2016: $117,556,444Net Assets 2016: $15,385,3762016Assets 2017: $134,189,689Liabilities 2017: $118,406,230Net Assets 2017: $15,783,4592017Assets 2018: $135,666,611Liabilities 2018: $119,335,767Net Assets 2018: $16,330,8442018Assets 2019: $140,643,251Liabilities 2019: $121,984,032Net Assets 2019: $18,659,2192019Assets 2020: $160,346,083Liabilities 2020: $139,605,044Net Assets 2020: $20,741,0392020Assets 2021: $183,851,968Liabilities 2021: $162,140,803Net Assets 2021: $21,711,1652021Assets 2022: $187,319,143Liabilities 2022: $172,884,154Net Assets 2022: $14,434,9892022Assets 2023: $199,335,118Liabilities 2023: $183,108,794Net Assets 2023: $16,226,3242023Assets 2024: $202,055,003Liabilities 2024: $182,764,887Net Assets 2024: $19,290,1162024

Highlighted filing

2012

Assets$124,433,709
Liabilities$108,925,921
Net Assets$15,507,788
Open 2012 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$15M$10M$5.0M$0-$5.0MExpenses 2010: $7,041,9352010Expenses 2011: $6,172,0002011Expenses 2012: $5,789,2312012Revenue 2013: $6,039,338Expenses 2013: $7,695,044Net Income 2013: -$1,655,7062013Revenue 2014: $5,664,090Expenses 2014: $4,998,403Net Income 2014: $665,6872014Revenue 2015: $5,944,109Expenses 2015: $5,294,424Net Income 2015: $649,6852015Revenue 2016: $5,642,688Expenses 2016: $5,132,157Net Income 2016: $510,5312016Revenue 2017: $5,557,016Expenses 2017: $5,131,316Net Income 2017: $425,7002017Revenue 2018: $6,181,928Expenses 2018: $5,159,772Net Income 2018: $1,022,1562018Revenue 2019: $6,643,637Expenses 2019: $5,667,246Net Income 2019: $976,3912019Revenue 2020: $6,665,159Expenses 2020: $5,691,968Net Income 2020: $973,1912020Revenue 2021: $6,977,892Expenses 2021: $5,739,206Net Income 2021: $1,238,6862021Revenue 2022: $8,462,340Expenses 2022: $6,122,684Net Income 2022: $2,339,6562022Revenue 2023: $9,937,960Expenses 2023: $8,033,194Net Income 2023: $1,904,7662023Revenue 2024: $11,426,984Expenses 2024: $9,641,597Net Income 2024: $1,785,3872024

Highlighted filing

2012

Revenue-
Expenses$5,789,231
Net Income-
Open 2012 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2012 to Dec 31, 2012
Signed
May 13, 2013
Return Version
2012v2.1
Gross Receipts
$6,411,156
Mission and Program Overview

Mission

Cooperative society incorporated for the twofold purpose of promoting thrift among its members and creating a source of credit for them at legitimate rates of interest.

Filing and Contact Details

Filer

EIN
63-0021787
Raw XML AppendixShowing 400 of 430 raw XML fields

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IRS990ScheduleD/Form990ScheduleDPartXIII/Explanation0THE CREDIT UNION ACCEPTS AND MAINTAINS ESCROW PAYMENTS TO PAY ANNUAL TAXES AND INSURANCE ON MEMBER BORROWER MORTGAGE LOANS.
IRS990ScheduleD/Form990ScheduleDPartXIII/Explanation1PARTS XI AND XII: ON AN ANNUAL BASIS, THE ALABAMA CREDIT UNION ADMINISTRATION PERFORMS A REGULATORY EXAMINATION OF THE FINANCIAL STATEMENTS AND SAFETY AND SOUNDNESS OF THE CREDIT UNION. ADDITIONALLY, THE CREDIT UNION'S FINANCIAL STATEMENTS ARE AUDITED BY AN INDEPENDENT ACCOUNTANT AS OF SEPTEMBER 30 EACH YEAR IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES FOR DEPOSITORY AND LENDING FINANCIAL INSTITUTIONS. AS A LENDING AND DEPOSIT-TAKING FINANCIAL INSTITUTION, THE CREDIT UNION IS NOT REQUIRED TO PREPARE IT'S FINANCIAL STATEMENTS IN ACCORDANCE WITH SFAS 117.
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IRS990ScheduleL/Form990ScheduleLPartIV/DescriptionOfTransaction0THE CREDIT UNION'S PRESIDENT/CEO IS ON THE BOARD OF DIRECTORS OF CORPORATE AMERICA CREDIT UNION IN WHICH THE CREDIT UNION ROUTINELY MAKES DEPOSITS AND RECEIVES DEPOSITS. MANAGEMENT BELIEVES ALL TRANSACTIONS WERE MADE IN THE ORDINARY COURSE OF BUSINESS ON THE SAME TERMS AS COMPARABLE TRANSACTIONS WITH OTHER CORPORATE AMERICA MEMBERS.
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IRS990ScheduleL/Form990ScheduleLPartIV/Relationship0PRESIDENT/CEO
IRS990ScheduleL/Form990ScheduleLPartIV/SharingOfRevenues00
IRS990ScheduleO/GeneralExplanation/Explanation0ALABAMA BANKING CODE, SECTION 5-17-5 STATES THAT, "CREDIT UNION MEMBERSHIP SHALL CONSIST OF THE INCORPORATORS AND SUCH OTHER PERSONS AS MAY BE ELECTED TO MEMBERSHIP AND WHO SUBSCRIBE TO AT LEAST ONE SHARE AND PAY THE INITIAL INSTALLMENT THEREON AND THE ENTRANCE FEE. ORGANIZATIONS, INCORPORATED OR OTHERWISE, COMPOSED FOR THE MOST PART OF THE SAME GENERAL GROUP AS THE CREDIT UNION MEMBERSHIP MAY BE MEMBERS. CREDIT UNION ORGANIZATION SHALL BE LIMITED TO GROUPS, OF BOTH LARGE AND SMALL MEMBERSHIP, HAVING A COMMON BOND OF OCCUPATION OR ASSOCIATION OR TO GROUPS WITHIN A WELL- DEFINED NEIGHBORHOOD, COMMUNITY OR RURAL DISTRICT." THE MEMBERSHIP OF FIRST EDUCATORS CREDIT UNION WAS ESTABLISHED TO PROVIDE A VARIETY OF FINANCIAL SERVICES TO ITS MEMBERS, WHO ARE EMPLOYEES OF THE PUBLIC SCHOOLS LOCATED IN JEFFERSON, CALHOUN, WALKER AND TALLADEGA COUNTIES AND THEIR RELATIVES. THE CREDIT UNION'S FIELD OF MEMBERSHIP ALSO INCLUDES SELECTED EMPLOYEE GROUPS AND INDIVIDUALS THAT RESIDE IN THESE COUNTIES. AS OF DECEMBER 31, 2012, THE CREDIT UNION HAD MEMBERSHIP AND PROVIDED SERVICES TO APPROXIMATELY 16,033 MEMBERS.
IRS990ScheduleO/GeneralExplanation/Explanation1THE BOARD OF DIRECTORS ARE ELECTED BY THE CREDIT UNION'S MEMBERSHIP AT THE ANNUAL MEETING. THE CREDIT UNION'S BYLAWS GOVERN THE ELECTION PROCEDURES. THE TERMS OF THE BOARD OF DIRECTORS, AS SET BY THE BYLAWS, ARE 3 YEARS AND ARE STAGGERED SO THAT AN EQUAL NUMBER EXPIRE AT EACH ANNUAL MEETING. PRIOR TO THE ANNUAL MEETING, THE BOARD CHAIRMAN APPOINTS A NOMINATING COMMITTEE TO NOMINATE A CANDIDATE FOR EACH VACANCY. NOMINATIONS MAY ALSO BE MADE BY PETITION. ELECTION BY THE MEMBERSHIP IS PERFORMED THROUGH WRITTEN BALLOTS, UNLESS THERE IS ONLY ONE NOMINEE. ALL ELECTIONS ARE DETERMINED BY A PLURALITY VOTE.
IRS990ScheduleO/GeneralExplanation/Explanation2THE FOLLOWING TYPES OF DECISIONS ARE SUBJECT TO APPROVAL BY THE CREDIT UNION'S MEMBERS: DISSOLUTION AND MERGER DECISIONS, ELECTION AND TERMINATION OF BOARD MEMBERS, ELECTION AND TERMINATION OF SUPERVISORY COMMITTEE MEMBERS, AND CONVERSION FROM STATE TO FEDERAL CHARTER.
IRS990ScheduleO/GeneralExplanation/Explanation3MANAGEMENT PERFORMS A REVIEW OF THE FORM 990 PRIOR TO FILING.
IRS990ScheduleO/GeneralExplanation/Explanation4COMPENSATION FOR THE CREDIT UNION'S CEO IS REVIEWED ANNUALLY BY THE BOARD OF DIRECTORS. TO DETERMINE THE CEO'S SALARY, THE BOARD CONSIDERS AMONG OTHER THINGS, PUBLISHED PEER SALARY GUIDES/DATA AND THE CREDIT UNION'S FINANCIAL CONDITION AND RESULTS OF OPERATIONS. THE CEO SETS THE COMPENSATION OF THE VICE PRESIDENT AND THE VICE PRESIDENT SETS THE SALARIES OF ALL OTHER EMPLOYEE BASED ON SIMILAR GUIDELINES.
IRS990ScheduleO/GeneralExplanation/Explanation5THE CREDIT UNION MAKES ITS GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. THE CREDIT UNION'S FINANCIAL STATEMENTS CAN BE FOUND ON THE WEBSITE OF THE NCUA AT NCUA.GOV.
IRS990ScheduleO/GeneralExplanation/Explanation6CHANGE IN OTHER COMPREHENSIVE INCOME 326,610.
IRS990ScheduleO/GeneralExplanation/Explanation7ON AN ANNUAL BASIS, THE ALABAMA CREDIT UNION ADMINISTRATION AND/OR THE NATIONAL CREDIT UNION ADMINISTRATION PERFORM A REGULATORY EXAMINATION OF THE FINANCIAL STATEMENTS AND SAFETY AND SOUNDNESS OF THE CREDIT UNION. ADDITIONALLY, THE CREDIT UNION'S FINANCIAL STATEMENTS ARE AUDITED BY AN INDEPENDENT ACCOUNTANT AS OF SEPTEMBER 30 EACH YEAR.
IRS990ScheduleO/GeneralExplanation/Explanation8THE CREDIT UNION'S HAS A SUPERVISORY COMMITTEE THAT IS RESPONSIBLE FOR ENSURING THAT THE BOARD OF DIRECTORS AND MANAGEMENT OF THE CREDIT UNION - (1)MEET REQUIRED FINANCIAL REPORTING OBJECTIVES AND (2) ESTABLISH PRACTICES AND PROCEDURES SUFFICIENT TO SAFEGUARD MEMBERS' ASSETS. THIS INCLUDES OVERSEEING THE ANNUAL FINANCIAL STATEMENT AUDIT AND THE SELECTION OF THE INDEPENDENT AUDITOR/ACCOUNTANT.
IRS990ScheduleO/GeneralExplanation/Identifier0CHANGES IN NET ASSETS OR FUND BALANCES:
IRS990ScheduleO/GeneralExplanation/ReturnReference0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/GeneralExplanation/ReturnReference1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/GeneralExplanation/ReturnReference2FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/GeneralExplanation/ReturnReference3FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/GeneralExplanation/ReturnReference4FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/GeneralExplanation/ReturnReference5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/GeneralExplanation/ReturnReference6FORM 990, PART XI, LINE 9:
IRS990ScheduleO/GeneralExplanation/ReturnReference7FORM 990, PART XII, LINE 2B:
IRS990ScheduleO/GeneralExplanation/ReturnReference8FORM 990, PART XII, LINE 2C:
IRS990/ScheduleORequired01
IRS990/School00
IRS990/SignificantChange00
IRS990/SignificantNewProgramServices00
IRS990/StateLegalDomicile0AL
IRS990/SubjectToProxyTax00
IRS990/TaxablePartyNotification00
IRS990/TaxExemptBonds00
IRS990/Terminated00
IRS990/TermOrPermanentEndowments00
IRS990/TheBooksAreInCareOf/AddressUS/AddressLine101810 MERCHANTS DRIVE
IRS990/TheBooksAreInCareOf/AddressUS/City0BIRMINGHAM
IRS990/TheBooksAreInCareOf/AddressUS/State0AL
IRS990/TheBooksAreInCareOf/AddressUS/ZIPCode035244
IRS990/TheBooksAreInCareOf/NameBusiness/BusinessNameLine10STEVE NIX
IRS990/TheBooksAreInCareOf/TelephoneNumber02055818800
IRS990/TotalAssets/BOY0117229806
IRS990/TotalAssetsBOY0117229806
IRS990/TotalAssets/EOY0124433709
IRS990/TotalAssetsEOY0124433709
IRS990/TotalCompGT150K01
IRS990/TotalExpensesCurrentYear05789231
IRS990/TotalExpensesPriorYear06172000
IRS990/TotalFunctionalExpenses/Total05789231
IRS990/TotalFundrsngExpCurrentYear00
IRS990/TotalGrossUBI011188
IRS990/TotalLiabilities/BOY0102848119
IRS990/TotalLiabilitiesBOY0102848119
IRS990/TotalLiabilities/EOY0108925921
IRS990/TotalLiabilitiesEOY0108925921
IRS990/TotalLiabNetAssetsFundBalances/BOY0117229806
IRS990/TotalLiabNetAssetsFundBalances/EOY0124433709
IRS990/TotalNbrEmployees059
IRS990/TotalNbrVolunteers010
IRS990/TotalNetAssetsFundBalances/BOY014381687
IRS990/TotalNetAssetsFundBalances/EOY015507788
IRS990/TotalOtherCompensation016252
IRS990/TotalProfFundrsngExpCY00
IRS990/TotalProfFundrsngExpPriorYear00
IRS990/TotalProgramServiceExpense05789231
IRS990/TotalProgramServiceRevenue06411156
IRS990/TotalReportableCompFrmRltdOrgs00
IRS990/TotalReportableCompFromOrg0298263
IRS990/TotalRevenueCurrentYear06411156
IRS990/TotalRevenue/ExclusionAmount00
IRS990/TotalRevenuePriorYear06778937
IRS990/TotalRevenue/RelatedOrExemptFunctionIncome06399968
IRS990/TotalRevenue/TotalRevenueColumn06411156
IRS990/TotalRevenue/UnrelatedBusinessRevenue011188
IRS990/Travel/Total025093
IRS990/TypeOfOrganizationOther0X
IRS990/TypeOfOrgOtherDescription0STATE CHARTERED COOPERATIVE CREDIT UNION
IRS990/UnrelatedBusinessIncome01
IRS990/UponRequest0X
IRS990/WebSite0WWW.FIRSTEDUCATORSCU.COM

Document Assets

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Filings

Displayed year

2012 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$124,433,709
Liabilities
$108,925,921
Net assets
$15,507,788
Revenue
-
Expenses
$5,789,231
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$202$183$19.3$11.4$9.64$1.79
2023Detailed filing. Detailed filing data is available for this year.$199$183$16.2$9.94$8.03$1.90
2022Detailed filing. Detailed filing data is available for this year.$187$173$14.4$8.46$6.12$2.34
2021Detailed filing. Detailed filing data is available for this year.$184$162$21.7$6.98$5.74$1.24
2020Detailed filing. Detailed filing data is available for this year.$160$140$20.7$6.67$5.69$0.97
2019Detailed filing. Detailed filing data is available for this year.$141$122$18.7$6.64$5.67$0.98
2018Detailed filing. Detailed filing data is available for this year.$136$119$16.3$6.18$5.16$1.02
2017Detailed filing. Detailed filing data is available for this year.$134$118$15.8$5.56$5.13$0.43
2016Detailed filing. Detailed filing data is available for this year.$133$118$15.4$5.64$5.13$0.51
2015Detailed filing. Detailed filing data is available for this year.$133$117$15.9$5.94$5.29$0.65
2014Summary only. Only limited summary data is available for this year.$129$113$15.9$5.66$5.00$0.67
2013Detailed filing. Detailed filing data is available for this year.$131$115$15.4$6.04$7.70$1.66
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$124$109$15.5$5.79
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$117$103$14.4$6.17
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$111$95.8$15.2$7.04