Civic Intelligence

Guardian Credit Union

990 • Fiscal year 2011 • EIN 63-0421006

Jan 01, 2011 to Dec 31, 2011 • Filed on Nov 13, 2012

Organization ProfileWWW.MYGUARDIANCU.COM

View Organization Page

PO Box 319936109
Siviq Scores

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

Liabilities / Assets

16th percentile

0.86x

Higher debt load relative to assets than 16% of similar nonprofits.

2011 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2011

Liabilities / Revenue

Score unavailable

No value available

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

Source year 2011

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2011

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2011

Asset Growth

57th percentile

5.5%

Faster asset growth than 57% of similar nonprofits.

2011 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2010 to 2011

Revenue Growth

Score unavailable

No value available

No valid filing value is available for this score.

Balance Sheet
Liabilities / Assets16th percentile

Assets

Up

$214,735,597

Up $11,181,909 (+5.5%) from 2010

Net Assets

Up

$29,947,489

Up $5,062,009 (+20%) from 2010

Liabilities

Up

$184,788,108

Up $6,119,900 (+3.4%) from 2010

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

-

No earlier filing loaded for comparison.

Expenses

Up

$10,059,907

Up $2,483,779 (+33%) from 2010

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth57th percentile

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

$1.5B$1.0B$500M$0Assets 2010: $203,553,688Liabilities 2010: $178,668,208Net Assets 2010: $24,885,4802010Assets 2011: $214,735,597Liabilities 2011: $184,788,108Net Assets 2011: $29,947,4892011Assets 2012: $228,846,971Liabilities 2012: $196,971,396Net Assets 2012: $31,875,5752012Assets 2013: $252,460,153Liabilities 2013: $221,441,127Net Assets 2013: $31,019,0262013Assets 2014: $297,186,421Liabilities 2014: $264,527,632Net Assets 2014: $32,658,7892014Assets 2015: $334,844,813Liabilities 2015: $301,194,778Net Assets 2015: $33,650,0352015Assets 2016: $376,518,549Liabilities 2016: $340,325,302Net Assets 2016: $36,193,2472016Assets 2017: $450,091,651Liabilities 2017: $408,938,810Net Assets 2017: $41,152,8412017Assets 2018: $486,969,411Liabilities 2018: $439,968,232Net Assets 2018: $47,001,1792018Assets 2019: $574,064,768Liabilities 2019: $522,250,867Net Assets 2019: $51,813,9012019Assets 2020: $694,104,820Liabilities 2020: $634,223,376Net Assets 2020: $59,881,4442020Assets 2021: $763,618,487Liabilities 2021: $694,288,018Net Assets 2021: $69,330,4692021Assets 2022: $865,286,128Liabilities 2022: $794,140,086Net Assets 2022: $71,146,0422022Assets 2023: $1,018,202,202Liabilities 2023: $935,845,298Net Assets 2023: $82,356,9042023Assets 2024: $1,052,558,670Liabilities 2024: $962,171,157Net Assets 2024: $90,387,5132024

Highlighted filing

2011

Assets$214,735,597
Liabilities$184,788,108
Net Assets$29,947,489
Open 2011 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$100M$50M$0Expenses 2010: $7,576,1282010Expenses 2011: $10,059,9072011Expenses 2012: $11,186,2952012Revenue 2013: $13,426,348Expenses 2013: $11,925,582Net Income 2013: $1,500,7662013Revenue 2014: $18,676,233Expenses 2014: $17,616,073Net Income 2014: $1,060,1602014Revenue 2015: $23,396,976Expenses 2015: $21,756,627Net Income 2015: $1,640,3492015Revenue 2016: $28,946,661Expenses 2016: $26,196,701Net Income 2016: $2,749,9602016Revenue 2017: $33,564,846Expenses 2017: $29,234,682Net Income 2017: $4,330,1642017Revenue 2018: $40,778,508Expenses 2018: $34,453,848Net Income 2018: $6,324,6602018Revenue 2019: $45,079,483Expenses 2019: $40,276,428Net Income 2019: $4,803,0552019Revenue 2020: $49,250,705Expenses 2020: $42,328,955Net Income 2020: $6,921,7502020Revenue 2021: $55,701,810Expenses 2021: $45,563,567Net Income 2021: $10,138,2432021Revenue 2022: $62,110,372Expenses 2022: $52,025,320Net Income 2022: $10,085,0522022Revenue 2023: $79,832,389Expenses 2023: $69,635,277Net Income 2023: $10,197,1122023Revenue 2024: $93,729,120Expenses 2024: $86,394,653Net Income 2024: $7,334,4672024

Highlighted filing

2011

Revenue-
Expenses$10,059,907
Net Income-
Open 2011 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2011 to Dec 31, 2011
Signed
Nov 13, 2012
Return Version
2011v1.2
Gross Receipts
$11,286,297
Mission and Program Overview

Mission

Cooperative society incorporated for the two-fold 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
63-0421006
Raw XML AppendixShowing 400 of 467 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/Description0ALABAMA BANKING CODE, SECTION 5-17-1, STATES THAT A CREDIT UNION IS A 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. GUARDIAN CREDIT UNION, AN ALABAMA STATE CHARTERED CREDIT UNION, PROVIDES THESE SERVICES TO ITS MEMBERS WHO ARE PRIMARILY MEMBERS/EMPLOYEES AND THEIR RELATIVES OF THE ALABAMA ARMY AND AIR NATIONAL GUARD, MUNICIPAL EMPLOYEES OF THE CITY OF MONTGOMERY, ALABAMA, AND VARIOUS DEPARTMENTS OF THE STATE OF THE ALABAMA. THE CREDIT UNION'S FIELD OF MEMBERSHIP ALSO INCLUDES SELECTED EMPLOYEE GROUPS AND IS OPEN TO ALL INDIVIDUALS WHO WORK, WORSHIP, ATTEND SCHOOL OR RESIDE IN MONTGOMERY, AUTAUGA, BUTLER, ELMORE, CHILTON, COOSA, TALLAPOOSA, LEE, RUSSELL, MACON, CRENSHAW, AND LOWDNES COUNTIES. AS OF DECEMBER 31, 2011, THE CREDIT UNION HAD MEMBERSHIP AND PROVIDED SERVICES TO APPROXIMATELY 33,732 MEMBERS.
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IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation0THE FIN 48 FOOTNOTE INCLUDED IN THE CREDIT UNION'S DECEMBER 31, 2011 AUDITED FINANCIAL STATEMENTS IS AS FOLLOWS: THE CREDIT UNION IS EXEMPT, BY STATUTES, FROM MOST FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION FILES A FEDERAL FORM 990 AND HAS A DECEMBER 31, TAX YEAR END. THE STATE OF ALABAMA IMPOSES A 6.5% EXCISE TAX ON THE TAXABLE INCOME OF STATE CHARTERED CREDIT UNIONS AS OF DECEMBER 31, EACH TAX YEAR. BASED ON THE GUIDANCE FROM THE PROVISIONS OF FASB ASC 740, INCOME TAXES, ASSOCIATED WITH UNCERTAINTY IN INCOME TAX POSITIONS (FORMERLY FIN 48), 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. SUCH TAX POSITIONS INITIALLY AND SUBSEQUENTLY NEED TO BE MEASURED AS THE LARGEST AMOUNT OF TAX BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT WITH THE TAX AUTHORITY ASSUMING FULL KNOWLEDGE OF THE POSITION AND RELEVANT FACTS. MANAGEMENT HAS ASSESSED WHETHER THERE WERE ANY UNCERTAIN TAX POSITIONS THAT MAY GIVE RISE TO INCOME TAX LIABILITIES AND HAS DETERMINED THAT AS A STATE-CHARTERED CREDIT UNION, THE CREDIT UNION IS SUBJECT TO UNRELATED BUSINESS INCOME TAX. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION DESCRIBED IN INTERNAL REVENUE CODE (IRC) SECTION 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES THAT ARE IN FURTHERANCE OF ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (AS DEFINED IN SECTION 512) DERIVED BY STATE-CHARTERED CREDIT UNIONS. THE SPECIFIC APPLICATION OF SECTION 512 TO THE VARIOUS ACTIVITIES CONDUCTED BY STATE-CHARTERED CREDIT UNIONS HAS BEEN A POINT OF CONTENTION BETWEEN STATE-CHARTERED CREDIT UNIONS AND THE IRS FOR MANY YEARS. DURING 2007, THE INTERNAL REVENUE SERVICE (IRS) ISSUED A SERIES OF TECHNICAL ADVICE MEMORANDA (TAM) TO A NUMBER OF STATE-CHARTERED CREDIT UNIONS LOCATED THROUGHOUT THE COUNTRY. IN THESE TAMS THE IRS RULED CERTAIN PRODUCTS AND SERVICES TO BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. CERTAIN CREDIT UNION'S HAVE CONTESTED THE IRS TAM RULINGS IN COURT. RECENT JUDGMENTS HAVE BEEN IN FAVOR OF THE CREDIT UNIONS. THE CREDIT UNION HAS ASSESSED ITS ACTIVITIES AND ANY POTENTIAL FEDERAL INCOME TAX LIABILITY. MANAGEMENT BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR THE INCOME TAX POSITIONS TAKEN AND TO BE TAKEN ON ITS TAX RETURNS BASED ON AN ASSESSMENT OF MANY FACTORS INCLUDING EXPERIENCE AND INTERPRETATIONS OF TAX LAWS APPLIED TO THE FACTS OF EACH MATTER. THE CREDIT UNION HAS CONCLUDED THAT THERE ARE NO SIGNIFICANT UNCERTAIN TAX POSITIONS REQUIRING DISCLOSURE, AND THERE ARE NO MATERIAL AMOUNTS OF UNRECOGNIZED TAX BENEFITS REQUIRING RECOGNITION IN THE FINANCIAL STATEMENTS. 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 ARISING FROM FEDERAL TAXATION OF ACTIVITIES DEEMED TO BE UNRELATED TO ITS EXEMPT PURPOSES AND ANY POTENTIAL ADDITIONAL LIABILITY RESULTING FROM THE TAXING AUTHORITIES IMPOSING TAXES, PENALTIES, AND INTEREST ON THE TAXES DUE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. WITH FEW EXCEPTIONS, CURRENTLY THE 2010, 2009 AND 2008 FEDERAL INCOME TAX RETURNS ARE OPEN FOR EXAMINATION BY THE IRS.
IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation1PRIOR PERIOD ADUSTMENT: NET EFFECTS OF FAIR VALUE ACCOUNTING ADJUSTMENTS FROM COMALA CREDIT UNION MERGER 3,186,141. CHANGE IN OTHER COMPREHENSIVE INCOME FOR DEFINED BENEFIT PLAN PENSION LIABILITY -134,474. TOTAL TO SCHEDULE D, PART XI, LINE 8: 3,051,667.
IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation2PART XI: ON AN ANNUAL BASIS, THE ALABAMA CREDIT UNION ADMINISTRATION AND/OR THE NATIONAL 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 DECEMBER 31 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.
IRS990ScheduleD/Form990ScheduleDPartXIV/Identifier0DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48:
IRS990ScheduleD/Form990ScheduleDPartXIV/Identifier1PART XI, LINE 8 - OTHER ADJUSTMENTS:
IRS990ScheduleD/Form990ScheduleDPartXIV/ReturnReference0PART X:
IRS990ScheduleD/InvestmentsProgramRelated/BookValue067444061
IRS990ScheduleD/InvestmentsProgramRelated/BookValue14249364
IRS990ScheduleD/InvestmentsProgramRelated/BookValue28942000
IRS990ScheduleD/InvestmentsProgramRelated/BookValue3150000
IRS990ScheduleD/InvestmentsProgramRelated/Description0MARKETABLE SECURITIES
IRS990ScheduleD/InvestmentsProgramRelated/Description1CORPORATE CREDIT UNION CAPITAL
IRS990ScheduleD/InvestmentsProgramRelated/Description2CERTIFICATES OF DEPOSIT
IRS990ScheduleD/InvestmentsProgramRelated/Description3CUSO INVESTMENT
IRS990ScheduleD/InvestmentsProgramRelated/MethodOfValuation0F
IRS990ScheduleD/InvestmentsProgramRelated/MethodOfValuation1C
IRS990ScheduleD/InvestmentsProgramRelated/MethodOfValuation2C
IRS990ScheduleD/InvestmentsProgramRelated/MethodOfValuation3C
IRS990ScheduleD/Land/BookValue01730907
IRS990ScheduleD/Land/OtherCostOrOtherBasis01730907
IRS990ScheduleD/NetUnrealizedGLOnInvestments0783952
IRS990ScheduleD/OtherAmount03051667
IRS990ScheduleD/OtherLiabilities/Amount0182338779
IRS990ScheduleD/OtherLiabilities/Description0MEMBER SHARES AND CERTIFICATE SHARES
IRS990ScheduleD/RevenueNotRptdF99000
IRS990ScheduleD/RevenueNotRptdOnFinStmt00
IRS990ScheduleD/RevenueSubtotal011286297
IRS990ScheduleD/TotalAdjustments03835619
IRS990ScheduleD/TotalExpenses010059907
IRS990ScheduleD/TotalExpensesPerForm990010059907
IRS990ScheduleD/TotalOfAmounts0182338779
IRS990ScheduleD/TotalOfBookValueLandBuildings08094061
IRS990ScheduleD/TotalOfBookValueProgramRelated080785425
IRS990ScheduleD/TotalRevenue011286297
IRS990ScheduleD/TotalRevenuePerForm990011286297
IRS990ScheduleD/TotExpensesEtcAuditedFinclStmt010059907
IRS990ScheduleD/TotRevenueEtcAuditedFinclStmt011286297
IRS990ScheduleI/Form990ScheduleIPartIII/AmountOfCashGrant06000
IRS990ScheduleI/Form990ScheduleIPartIII/NumberOfRecipients06
IRS990ScheduleI/Form990ScheduleIPartIII/TypeOfGrant0SCHOLARSHIPS AWARDED TO HIGH SCHOOL SENIORS.
IRS990ScheduleI/RecordsMaintained01
IRS990/ScheduleJRequired00
IRS990ScheduleL/Form990ScheduleLPartIV/DescriptionOfTransaction0THE CREDIT UNION'S PRESIDENT/CEO IS ON THE SUPERVISORY COMMITTEE OF CORPORATE AMERICA CREDIT UNION IN WHICH THE CREDIT UNION ROUTINELY MAKE 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 MEMBERS.
IRS990ScheduleL/Form990ScheduleLPartIV/NameOfInterestedPerson/NamePerson0HEATH HARRELL
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 GUARDIAN CREDIT UNION AS OF DECEMBER 31, 2011, WAS OPEN TO MEMBERS/EMPLOYEES AND THEIR RELATIVES OF THE ALABAMA ARMY AND AIR NATIONAL GUARD, MUNICIPAL EMPLOYEES OF THE CITY OF MONTGOMERY, ALABAMA, AND VARIOUS DEPARTMENTS OF THE STATE OF THE ALABAMA. THE CREDIT UNION'S FIELD OF MEMBERSHIP ALSO INCLUDES SELECTED EMPLOYEE GROUPS AND IS OPEN TO ALL INDIVIDUALS WHO WORK, WORSHIP, ATTEND SCHOOL OR RESIDE IN MONTGOMERY, AUTAUGA, ELMORE, BUTLER, CHILTON, COOSA, TALLAPOOSA, LEE, RUSSELL, MACON, CRENSHAW, AND LOWDNES COUNTIES. AS OF DECEMBER 31, 2011, THE CREDIT UNION HAD MEMBERSHIP AND PROVIDED SERVICES TO APPROXIMATELY 33,732 MEMBERS.
IRS990ScheduleO/GeneralExplanation/Explanation1ALABAMA BANKING CODE, SECTION 5-17-10 STATES THAT, "AT THE ANNUAL MEETING, THE CREDIT UNION SHALL ELECT A BOARD OF DIRECTORS OF NOT LESS THAN FIVE MEMBERS, A CREDIT COMMITTEE OF NOT LESS THAN THREE MEMBERS AND A SUPERVISORY COMMITTEE OF THREE MEMBERS, ALL TO HOLD OFFICE FOR SUCH TERMS RESPECTIVELY AS THE BYLAWS PROVIDE AND UNTIL SUCCESSORS QUALIFY. A RECORD OF THE NAMES AND ADDRESSES OF THE MEMBERS OF THE BOARD AND COMMITTEES AND THE OFFICERS SHALL BE FILED WITH THE ADMINISTRATOR OF THE ALABAMA CREDIT UNION ADMINISTRATION WITHIN 10 DAYS OF THEIR ELECTION. IF, HOWEVER, THE BYLAWS SO PROVIDE, THE BOARD OF DIRECTORS SHALL CARRY OUT THE FUNCTIONS AND DUTIES OF THE CREDIT COMMITTEE AND THE CREDIT UNION SHALL NOT ELECT A CREDIT COMMITTEE." THE BYLAWS OF GUARDIAN CREDIT UNION GOVERNING ELECTIONS ARE AS FOLLOWS: SECTION 1. AT LEAST (30) DAYS PRIOR TO EACH ANNUAL MEMBERSHIP MEETING, THE PRESIDENT (UNLESS THE PRESIDENT IS NOT A MEMBER OF THE BOARD OF DIRECTORS) SHALL APPOINT A NOMINATING COMMITTEE OF NOT LESS THAN THREE (3) MEMBERS, PROVIDED THAT THE CHAIRMAN OF THE BOARD OF DIRECTORS SHALL APPOINT SUCH NOMINATING COMMITTEE IF THE PRESIDENT IS NOT A MEMBER OF THE BOARD OF DIRECTORS. IT SHALL BE THE DUTY OF THE NOMINATING COMMITTEE TO NOMINATE AT THE ANNUAL MEETING ONE (1) MEMBER FOR EACH VACANCY (INCLUDING ANY UNEXPIRED TERM VACANCY) IN THE BOARD OF DIRECTORS, THE CREDIT COMMITTEE AND SUPERVISORY COMMITTEE FOR WHICH ELECTION WILL BE HELD AT THE ANNUAL MEMBERSHIP MEETING. SECTION 2. IF THE DIRECTORS HAVE NOT PROVIDED FOR ABSENTEE BALLOTS. THE PRESIDING OFFICER SHALL CALL FOR NOMINATIONS FROM THE FLOOR AFTER THE NOMINATIONS OF THE NOMINATING COMMITTEE HAVE BEEN PLACED BEFORE THE MEMBERS. IF ABSENTEE BALLOTS ARE NOT USED THE NOMINATIONS SHALL DEEMED CLOSED AFTER THE NOMINATIONS OF THE NOMINATING COMMITTEE HAVE BEEN PLACED BEFORE THE MEMBERS AND THE PRESIDENT HAS ACCEPTED ALL NOMINATIONS FROM THE FLOOR. IF THE DIRECTORS HAVE PROVIDED FOR ABSENTEE BALLOTS, THEN THE NOMINATIONS OF THE NOMINATING COMMITTEE WILL BE DISTRIBUTED TO THE MEMBERS AT LEAST 30 DAYS PRIOR TO THE ANNUAL MEETING AND NOMINATIONS WILL BE ACCEPTED FROM THE MEMBERSHIP FOR A PERIOD OF NOT LESS THAN 7 DAYS AFTER THE NOMINATIONS OF THE NOMINATING COMMITTEE ARE MAILED OR DISTRIBUTED TO THE MEMBERSHIP. ANY PERSON NOMINATED BY THE MEMBERSHIP MUST PRESENT A WRITTEN NOMINATION SIGNED BY AT LEAST THREE MEMBERS WITHIN A TIME PERIOD PRESCRIBED FOR SUCH. NOMINATIONS BY THE BOARD OF DIRECTORS. UPON THE EXPIRATION OF THE AFORESAID TIME PERIOD FOR SUCH NOMINATIONS WHICH IS PRESCRIBED BY THE BOARD OF DIRECTORS, THE NOMINATIONS SHALL BE DEEMED CLOSED IN THE EVENT THAT ABSENTEE BALLOTS ARE USED. THE PRESIDENT (UNLESS THE PRESIDENT IS NOT A MEMBER OF THE BOARD OF DIRECTORS) SHALL APPOINT TELLERS AT THE ANNUAL MEETING. THE CHAIRMAN OF THE BOARD OF DIRECTORS SHALL APPOINT TELLERS IF THE PRESIDENT IS NOT A MEMBER OF THE BOARD OF DIRECTORS. WRITTEN BALLOTS SHALL BE DISTRIBUTED, THE VOTE TAKEN, THE RESULTS TALLIED BY THE TELLERS AND, THE RESULTS ANNOUNCED. ELECTION MAY BE BY SEPARATE BALLOTS FOR EACH DIRECTOR VACANCY OR MAY BE BY ONE BALLOT FOR ALL VACANCIES AT THE DISCRETION OF THE PRESIDING OFFICERS SECTION 3. WRITTEN BALLOTS ARE REQUIRED FAR ALL ELECTIONS EXCEPT WHEN THERE IS ONLY ONE NOMINEE FOR THE OFFICE. ALL ELECTIONS SHALL BE DETERMINED BY PLURALITY VOTE AND THERE SHALL BE NO RUNOFFS EXCEPT IN THE EVENT OF A TIE VOTE; SECTION 4. NO MEMBER SHALL BE ENTITLED TO VOTE BY PROXY, BUT THE BOARD OF DIRECTORS MAY AUTHORIZE MEMBERS UNABLE TO ATTEND THE ANNUAL MEETING TO VOTE BY ABSENTEE BALLOT IN THE ELECTION OF DIRECTORS AND ON OTHER MATTERS TO COME BEFORE THE ANNUAL MEETING. AN ABSENTEE BALLOT IS TO BE CAST WITH THE SECRETARY BY MAIL OR IN PERSON, PRIOR TO THE ANNUAL MEETING. THE SECRETARY SHALL CERTIFY THE ELIGIBILITY TO VOTE OF THOSE MEMBERS CASTING ABSENTEE BALLOTS. SECTION 5. A MEMBER OTHER THAN A NATURAL PERSON MAY VOTE THROUGH AN AGENT DESIGNATED IN WRITING FOR THE PURPOSE. A TRUSTEE OR OTHER
IRS990ScheduleO/GeneralExplanation/Explanation2THE FOLLOWING TYPES OF DECISIONS ARE SUBJECT TO APPROVAL BY THE CREDIT UNION'S MEMBERS: DISSOLUTION OF THE CREDIT UNION, ELECTION & TERMINATION OF BOARD OR COMMITTEE MEMBERS, EXPULSION OF CREDIT UNION MEMBERS AND CONVERSION FROM STATE TO FEDERAL CHARTER.
IRS990ScheduleO/GeneralExplanation/Explanation3THE CREDIT UNION DOES NOT HAVE ANY COMMITTEES WITH THE RESPONSIBILITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/GeneralExplanation/Explanation4MANAGEMENT PERFORMS A REVIEW OF THE FORM 990 PRIOR TO FILING.
IRS990ScheduleO/GeneralExplanation/Explanation5MANAGEMENT'S COMPENSATION IS DETERMINED BY THE CREDIT UNION'S BOARD OF DIRECTORS.
IRS990ScheduleO/GeneralExplanation/Explanation6THE 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/Explanation7NET UNREALIZED GAINS ON INVESTMENTS: 783,952. PRIOR PERIOD ADUSTMENT: NET EFFECTS OF FAIR VALUE ACCOUNTING ADJUSTMENTS FROM COMALA CREDIT UNION MERGER 3,186,141. CHANGE IN OTHER COMPREHENSIVE INCOME FOR DEFINED BENEFIT PLAN PENSION LIABILITY -134,474. TOTAL TO FORM 990, PART XI, LINE 5: 3,835,619.
IRS990ScheduleO/GeneralExplanation/Explanation8ON 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 DECEMBER 31 EACH YEAR.
IRS990ScheduleO/GeneralExplanation/Explanation9A CREDIT UNION'S SUPERVISORY COMMITTEE 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 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 A, LINE 8B
IRS990ScheduleO/GeneralExplanation/ReturnReference4FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/GeneralExplanation/ReturnReference5FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/GeneralExplanation/ReturnReference6FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/GeneralExplanation/ReturnReference7FORM 990, PART XI, LINE 5:
IRS990ScheduleO/GeneralExplanation/ReturnReference8FORM 990, PART XII, LINE 2B:
IRS990ScheduleO/GeneralExplanation/ReturnReference9FORM 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/AddressLine101789 CONG WML DICKINSON DRIVE
IRS990/TheBooksAreInCareOf/AddressUS/City0MONTGOMERY
IRS990/TheBooksAreInCareOf/AddressUS/State0AL
IRS990/TheBooksAreInCareOf/AddressUS/ZIPCode036109
IRS990/TheBooksAreInCareOf/NameBusiness/BusinessNameLine10HEATH HARRELL
IRS990/TheBooksAreInCareOf/TelephoneNumber03342449999
IRS990/TotalAssets/BOY0203553688

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2011 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$214,735,597
Liabilities
$184,788,108
Net assets
$29,947,489
Revenue
-
Expenses
$10,059,907
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1,053$962$90.4$93.7$86.4$7.33
2023Detailed filing. Detailed filing data is available for this year.$1,018$936$82.4$79.8$69.6$10.2
2022Detailed filing. Detailed filing data is available for this year.$865$794$71.1$62.1$52.0$10.1
2021Detailed filing. Detailed filing data is available for this year.$764$694$69.3$55.7$45.6$10.1
2020Detailed filing. Detailed filing data is available for this year.$694$634$59.9$49.3$42.3$6.92
2019Detailed filing. Detailed filing data is available for this year.$574$522$51.8$45.1$40.3$4.80
2018Detailed filing. Detailed filing data is available for this year.$487$440$47.0$40.8$34.5$6.32
2017Detailed filing. Detailed filing data is available for this year.$450$409$41.2$33.6$29.2$4.33
2016Detailed filing. Detailed filing data is available for this year.$377$340$36.2$28.9$26.2$2.75
2015Detailed filing. Detailed filing data is available for this year.$335$301$33.7$23.4$21.8$1.64
2014Detailed filing. Detailed filing data is available for this year.$297$265$32.7$18.7$17.6$1.06
2013Detailed filing. Detailed filing data is available for this year.$252$221$31.0$13.4$11.9$1.50
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$229$197$31.9$11.2
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$215$185$29.9$10.1
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$204$179$24.9$7.58
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2011 filings • 501(c)14 • $100M-$250M nonprofits