Alabama River Credit Union

“The credit union is a not-for-profit financial institution that is owned and operated by its members. In order to become a member of the credit union, an individual must live, work, attend school or worship in wilcox, clark, monroe, escambia or conecuh counties in alabama. Businesses and other legal entities located in these counties may also be members. Relatives of members may also be members of the credit union as well as organizations and entities of such persons.”

“The members of alabama river credit union elect its board of directors at their annual membership meeting. The members of the credit union are informed of the board positions which are up for election by the nominating committee. The members then proceed to vote to fill the open board positions. In order for a board member to be elected, a quorum must be present at the meeting.”

“Upon completion of the credit union's form 990, the return is presented to the board at a board of directors meeting. At the meeting, the board members review the tax return and are free to ask any questions or engage in discussion regarding any topic covered in the return. Once the governing body has reviewed and approved the form 990, the return is filed with the internal revenue service.”

“Credit union staff review the conflict of interest policy each year with the credit union's manager. At this meeting, the staff members are free to ask any questions regarding this policy. The credit union manager constantly monitors the staff to make sure everyone is in compliance with the policy. It is the responsibility of staff and directors to immediately notify the credit union manager of any potential conflict of interest.”

“Compensation for officers, key employees & top management officials is determined on a yearly basis. Before compensation is set, the board of directors examines the type and amount of work performed by the employees while taking into account the credit union's prior year income and the cuna salary survey.”

“The credit union makes available its financial statements via the ncua website which can be found at www.ncua.gov. Other documents are available to the public upon request.”

“Alabama river credit union filed a final short-year form 990 due to its merger into alabama credit union (63-0440014) on july 1, 2025. Forms w-2/w-3 and any required forms 1099/1096 for the calendar year ending december 31, 2025 will be filed by the successor organization.”

“Merger with alabama credit union on 07/01/2025 -2,261,243.”

“On a yearly basis, the league and the alabama credit union administration examine the financial statements of the credit union. During the examinations, alabama river credit union provides the independent parties with various financial and procedural information and reports.”

“Alabama river credit union po box 907 monroeville, al 36461 employer identification number: 63-0779069 for the year ending june 30, 2025 alabama river credit union is making the de minimis safe harbor election under reg. Sec. 1.263(a)-1(f).”

“Alabama river credit union po box 907 monroeville, al 36461 employer identification number: 63-0779069 for the year ending june 30, 2025 alabama river credit union is making the election to capitalize repair and maintenance costs under reg. Sec. 1.263(a)-3(n).”