Civic Intelligence

Valley Credit Union

990 • Fiscal year 2019 • EIN 63-0421601

Jan 01, 2019 to Dec 31, 2019 • Filed on Apr 27, 2020

Organization ProfileWWW.VALLEYCREDITUNION.NET

View Organization Page

P O Box 388Tuscumbia, AL 35674

(256) 381-4800

Siviq Scores

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

Liabilities / Assets

18th percentile

0.83x

Higher debt load relative to assets than 18% of similar nonprofits.

2019 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2019

Liabilities / Revenue

77th percentile

19.88x

Higher debt load relative to revenue than 77% of similar nonprofits.

2019 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2019

Net Margin

35th percentile

8.8%

Higher net margin than 35% of similar nonprofits.

2019 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2019

Top Officer Pay

78th percentile

$191,965

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 6.0% of source-year revenue.

2019 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2019

Asset Growth

81st percentile

7.2%

Faster asset growth than 81% of similar nonprofits.

2019 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2018 to 2019

Revenue Growth

17th percentile

1.6%

Faster revenue growth than 17% of similar nonprofits.

2019 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets18th percentile

Assets

Up

$76,954,948

Up $5,181,172 (+7.2%) from 2018

Net Assets

Up

$13,006,277

Up $912,049 (+7.5%) from 2018

Liabilities

Up

$63,948,671

Up $4,269,123 (+7.2%) from 2018

Revenue And Expenses
Liabilities / Revenue77th percentileNet Margin35th percentile

Revenue

Up

$3,217,191

Up $51,997 (+1.6%) from 2018

Expenses

Up

$2,934,793

Up $84,429 (+3.0%) from 2018

Net Income

Down

$282,398

Down $32,432 (-10%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth81st percentile

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

$150M$100M$50M$0Assets 2010: $58,809,220Liabilities 2010: $49,675,034Net Assets 2010: $9,134,1862010Assets 2011: $60,478,506Liabilities 2011: $50,810,034Net Assets 2011: $9,668,4722011Assets 2012: $62,845,931Liabilities 2012: $52,443,469Net Assets 2012: $10,402,4622012Assets 2013: $63,233,261Liabilities 2013: $52,517,706Net Assets 2013: $10,715,5552013Assets 2014: $65,155,338Liabilities 2014: $54,059,596Net Assets 2014: $11,095,7422014Assets 2015: $68,868,816Liabilities 2015: $57,437,162Net Assets 2015: $11,431,6542015Assets 2016: $70,756,163Liabilities 2016: $59,176,441Net Assets 2016: $11,579,7222016Assets 2017: $69,690,154Liabilities 2017: $57,782,138Net Assets 2017: $11,908,0162017Assets 2018: $71,773,776Liabilities 2018: $59,679,548Net Assets 2018: $12,094,2282018Assets 2019: $76,954,948Liabilities 2019: $63,948,671Net Assets 2019: $13,006,2772019Assets 2020: $85,610,701Liabilities 2020: $72,055,865Net Assets 2020: $13,554,8362020Assets 2021: $94,382,507Liabilities 2021: $80,878,303Net Assets 2021: $13,504,2042021Assets 2022: $96,274,453Liabilities 2022: $85,097,250Net Assets 2022: $11,177,2032022Assets 2023: $102,030,791Liabilities 2023: $89,955,000Net Assets 2023: $12,075,7912023Assets 2024: $103,235,318Liabilities 2024: $90,802,313Net Assets 2024: $12,433,0052024

Highlighted filing

2019

Assets$76,954,948
Liabilities$63,948,671
Net Assets$13,006,277
Open 2019 Filing

Operations Trend

Revenue Growth17th percentile

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

$6.0M$4.0M$2.0M$0Expenses 2010: $2,523,3532010Expenses 2011: $2,521,1982011Expenses 2012: $2,411,7272012Revenue 2013: $2,927,980Expenses 2013: $2,427,929Net Income 2013: $500,0512013Revenue 2014: $2,950,282Expenses 2014: $2,579,732Net Income 2014: $370,5502014Revenue 2015: $2,909,819Expenses 2015: $2,583,177Net Income 2015: $326,6422015Revenue 2016: $2,908,834Expenses 2016: $2,749,867Net Income 2016: $158,9672016Revenue 2017: $3,080,767Expenses 2017: $2,730,277Net Income 2017: $350,4902017Revenue 2018: $3,165,194Expenses 2018: $2,850,364Net Income 2018: $314,8302018Revenue 2019: $3,217,191Expenses 2019: $2,934,793Net Income 2019: $282,3982019Revenue 2020: $3,029,403Expenses 2020: $2,838,207Net Income 2020: $191,1962020Revenue 2021: $3,024,216Expenses 2021: $2,614,213Net Income 2021: $410,0032021Revenue 2022: $3,328,227Expenses 2022: $2,821,472Net Income 2022: $506,7552022Revenue 2023: $4,170,298Expenses 2023: $3,878,663Net Income 2023: $291,6352023Revenue 2024: $4,861,176Expenses 2024: $4,421,347Net Income 2024: $439,8292024

Highlighted filing

2019

Revenue$3,217,191
Expenses$2,934,793
Net Income$282,398
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Apr 27, 2020
Return Version
2019v5.0
Gross Receipts
$3,217,191
Mission and Program Overview

Mission

Credit union - to provide services to approximately 6,032 members in the form of loans, savings, and other financial services.

Credit union - to provide financial services for its members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$18,023,295$27,051,978▲ $9,028,683
Accounts Receivable$27,616,140$26,675,596▼ $940,544
Savings and Temporary Cash Investments$14,960,762$12,384,624▼ $2,576,138
Cap Stk Tr Prin Current Funds$8,046,639$8,373,870▲ $327,231
Cash and Non-Interest-Bearing Accounts$7,350,110$7,103,559▼ $246,551
Rtn Earn Endowment Incm Other Fnds$4,047,589$4,632,407▲ $584,818
Land, Buildings, and Equipment, Net$2,123,551$2,134,712▲ $11,161
Prepaid Expenses and Deferred Charges$298,312$357,415▲ $59,103
Total Assets$71,773,776$76,954,948▲ $5,181,172
Other Assets Total$1,401,606$1,247,064▼ $154,542
Liabilities
Other Liabilities$59,400,167$63,712,201▲ $4,312,034
Accounts Payable and Accrued Expenses$279,381$236,470▼ $42,911
Total Liabilities$59,679,548$63,948,671▲ $4,269,123
Net Assets / Fund Balance
Total Net Assets Fund Balance$12,094,228$13,006,277▲ $912,049
Total Liabilities and Net Assets / Fund Balance$71,773,776$76,954,948▲ $5,181,172

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$2,134,712-$2,134,712
Other Securities$185,580--
Compensation and Service Providers
Top Officer Pay78th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Hillard SparksCEO/sec/treaFT$191,965-$191,965
Hillard SparksCEO/sec/treasurer-$158,243$33,722$191,965

Board Members and Trustees

NameTitle
Sandra H JamesPresident
Doug WorleyBoard Member
Dr John LandersBoard Member
Dr Robert ClemmonsBoard Member
Otis JohnsonBoard Member
Royce MasseyBoard Member
Robert MullenBoard Memebe
Dawn TruittInterim CEO
Brittany CobbSupervisory
Marvin DailySupervisory
Larry DanleySupv Comm Ch
Dr Richard GardnerVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,352,825
Investment Income
$886,717
Other Revenue
$-22,351
Change in Net Assets
$282,398
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,733,144
Salaries, Compensation, and Employee Benefits$1,201,649
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$1,007,865-$1,007,865
Interest-$522,076-$522,076
Office Expenses-$272,586-$272,586
Occupancy-$182,721-$182,721
Pension Plan Contributions-$78,316-$78,316
Other Employee Benefits-$76,808-$76,808
Other Expenses-$57,600-$57,600
All Other Expenses-$53,743-$53,743
Payroll Taxes-$38,660-$38,660
Conferences and Meetings-$24,571-$24,571
Total Functional Expenses$0$2,934,793$0$2,934,793
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
All Other Shares$32,269,069
Regular Shares$20,241,155
Share Drafts$11,201,977
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“The credit union is owned by the members.”

Form 990, Page 6, Part VI, Line 7A

“The board of directros is elected by the membership (one member, one vote). All duties, powers, and responsibilities are controlled by the board of directors. The members elect the board of directors at the annual meeting every year.”

Form 990, Page 6, Part VI, Line 7B

“Some decisions made by the board of directors are affirmed by the members.”

Form 990, Page 6, Part VI, Line 11B

“The form 990 is reviewed by the ceo before it is filed. The form 990 is available for review by the board of directors upon request.”

Form 990, Page 6, Part VI, Line 12C

“The board of directors monitor and enforce the conflict of interest policy.”

Form 990, Page 6, Part VI, Line 15A

“Compensation committee, written contract, compensation survey or study approved by the board or compensation committee.”

Form 990, Page 6, Part VI, Line 19

“Financial documents are posted in the credit union lobby by the 15th of the subsequent month.”

Filing and Contact Details

Filer

Filer Name
Valley Credit Union
EIN
63-0421601
Phone
2563814800
Address
P O BOX 388, TUSCUMBIA, AL 35674

Signing Officer

Name
Dawn Truitt
Title
Interim CEO
Phone
2563814800
Signed
2020-04-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dawn Truitt
Formed
1956
Legal Domicile
Al
Voting Board Members
9
Independent Board Members
9
Employees
31
Volunteers
12

Preparer

Firm
Cu Audit & Compliance Group
Address
3692 COOLIDGE CT, TALLAHASSEE, FL 32311-7890
Preparer
Hiram H Hollifield
Phone
2054372176
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

“Hours of service are related to duties of the board of directors and supervisory committee without compensation.”

Form 990, Page 5, Part V, Line 3B

“The credit union had no unrelated business income during the year.”

Form 990, Part XI, Line 9

“Equity acquired in merger 498,369 other adjustments 300 total 498,669”

Form 990, Part XII

“Annual agreed upon procedures are performed by an independent auditor.”

Raw XML AppendixShowing 400 of 433 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/OtherExpensesGrp/Desc3MISC EXP
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IRS990/PYTotalRevenueAmt03165194
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1REGULAR SHARES
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IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt1185580
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IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd1C
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IRS990ScheduleD/TotalBookValueSecuritiesAmt027051978
IRS990ScheduleD/TotalLiabilityAmt063712201
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0HILLARD SPARKS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO/SEC/TREASURER
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0HOURS OF SERVICE ARE RELATED TO DUTIES OF THE BOARD OF DIRECTORS AND SUPERVISORY COMMITTEE WITHOUT COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CREDIT UNION HAD NO UNRELATED BUSINESS INCOME DURING THE YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CREDIT UNION IS OWNED BY THE MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTROS IS ELECTED BY THE MEMBERSHIP (ONE MEMBER, ONE VOTE). ALL DUTIES, POWERS, AND RESPONSIBILITIES ARE CONTROLLED BY THE BOARD OF DIRECTORS. THE MEMBERS ELECT THE BOARD OF DIRECTORS AT THE ANNUAL MEETING EVERY YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4SOME DECISIONS MADE BY THE BOARD OF DIRECTORS ARE AFFIRMED BY THE MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE FORM 990 IS REVIEWED BY THE CEO BEFORE IT IS FILED. THE FORM 990 IS AVAILABLE FOR REVIEW BY THE BOARD OF DIRECTORS UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE BOARD OF DIRECTORS MONITOR AND ENFORCE THE CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7COMPENSATION COMMITTEE, WRITTEN CONTRACT, COMPENSATION SURVEY OR STUDY APPROVED BY THE BOARD OR COMPENSATION COMMITTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8FINANCIAL DOCUMENTS ARE POSTED IN THE CREDIT UNION LOBBY BY THE 15TH OF THE SUBSEQUENT MONTH.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9EQUITY ACQUIRED IN MERGER 498,369 OTHER ADJUSTMENTS 300 TOTAL 498,669
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10ANNUAL AGREED UPON PROCEDURES ARE PERFORMED BY AN INDEPENDENT AUDITOR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, PART I, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 5, PART V, LINE 3B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9FORM 990, PART XI, LINE 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc10FORM 990, PART XII
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03217191
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IRS990/USAddress/CityNm0TUSCUMBIA
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IRS990/VotingMembersGoverningBodyCnt09
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IRS990/WebsiteAddressTxt0WWW.VALLEYCREDITUNION.NET
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02020-11-19 02:30:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DAWN TRUITT

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$76,954,948
Liabilities
$63,948,671
Net assets
$13,006,277
Revenue
$3,217,191
Expenses
$2,934,793
Net income
$282,398
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$103$90.8$12.4$4.86$4.42$0.44
2023Detailed filing. Detailed filing data is available for this year.$102$90.0$12.1$4.17$3.88$0.29
2022Detailed filing. Detailed filing data is available for this year.$96.3$85.1$11.2$3.33$2.82$0.51
2021Detailed filing. Detailed filing data is available for this year.$94.4$80.9$13.5$3.02$2.61$0.41
2020Detailed filing. Detailed filing data is available for this year.$85.6$72.1$13.6$3.03$2.84$0.19
2019Detailed filing. Detailed filing data is available for this year.$77.0$63.9$13.0$3.22$2.93$0.28
2018Detailed filing. Detailed filing data is available for this year.$71.8$59.7$12.1$3.17$2.85$0.31
2017Detailed filing. Detailed filing data is available for this year.$69.7$57.8$11.9$3.08$2.73$0.35
2016Detailed filing. Detailed filing data is available for this year.$70.8$59.2$11.6$2.91$2.75$0.16
2015Detailed filing. Detailed filing data is available for this year.$68.9$57.4$11.4$2.91$2.58$0.33
2014Detailed filing. Detailed filing data is available for this year.$65.2$54.1$11.1$2.95$2.58$0.37
2013Detailed filing. Detailed filing data is available for this year.$63.2$52.5$10.7$2.93$2.43$0.50
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$62.8$52.4$10.4$2.41
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$60.5$50.8$9.67$2.52
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$58.8$49.7$9.13$2.52