Civic Intelligence

North Alabama Educators

EIN 63-6023153 • 501(c)14 • Huntsville, AL

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Profile

Credit union - to provide services to approximately 10,769 members in the form of loans, savings, and other financial services.

PO Box 128Huntsville, AL 35804

www.naecu.com

Siviq Scores

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

Liabilities / Assets

95th percentile

0.93x

Higher debt load relative to assets than 95% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Source year 2025

Liabilities / Revenue

93rd percentile

20.64x

Higher debt load relative to revenue than 93% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Source year 2025

Net Margin

42nd percentile

9.8%

Higher net margin than 42% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Source year 2025

Top Officer Pay

19th percentile

$172,650

Higher top officer pay than 19% of similar nonprofits.

Top officer pay equals 2.7% of source-year revenue.

501(c)14 • $100M-$250M nonprofits • Source year 2025

Asset Growth

70th percentile

5.0%

Faster asset growth than 70% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Annualized from 2024 to 2025

Revenue Growth

34th percentile

9.8%

Faster revenue growth than 34% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets95th percentile

Assets

Up

$132,710,838

Up $2,246,337 (+1.7%) from 2023

Liabilities

Up

$126,095,766

Up $844,969 (+0.7%) from 2023

Net Assets

Up

$6,615,072

Up $1,401,368 (+27%) from 2023

Operations
Liabilities / Revenue93rd percentileNet Margin42nd percentile

Revenue

Up

$5,746,115

Up $813,153 (+16%) from 2023

Expenses

Up

$5,539,148

Up $1,061,429 (+24%) from 2023

Net Income

Down

$206,967

Down $248,276 (-55%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth70th percentile

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

$150M$100M$50M$0Assets 2010: $74,201,726Liabilities 2010: $68,700,163Net Assets 2010: $5,501,5632010Assets 2011: $79,372,688Liabilities 2011: $73,696,870Net Assets 2011: $5,675,8182011Assets 2012: $81,069,140Liabilities 2012: $74,887,439Net Assets 2012: $6,181,7012012Assets 2023: $130,464,501Liabilities 2023: $125,250,797Net Assets 2023: $5,213,7042023Assets 2024: $132,710,838Liabilities 2024: $126,095,766Net Assets 2024: $6,615,0722024

Highlighted filing

2024

Assets$132,710,838
Liabilities$126,095,766
Net Assets$6,615,072
Open 2024 Filing

Operations Trend

Revenue Growth34th percentile

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

$6.0M$4.0M$2.0M$0Expenses 2010: $4,194,1602010Expenses 2011: $3,819,2092011Revenue 2012: $4,003,316Expenses 2012: $3,608,601Net Income 2012: $394,7152012Revenue 2023: $4,932,962Expenses 2023: $4,477,719Net Income 2023: $455,2432023Revenue 2024: $5,746,115Expenses 2024: $5,539,148Net Income 2024: $206,9672024

Highlighted filing

2024

Revenue$5,746,115
Expenses$5,539,148
Net Income$206,967
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$132,710,838
Liabilities
$126,095,766
Net assets
$6,615,072
Revenue
$5,746,115
Expenses
$5,539,148
Net income
$206,967
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$133$126$6.62$5.75$5.54$0.21
2023Detailed filing. Detailed filing data is available for this year.$130$125$5.21$4.93$4.48$0.46
2012Summary only. Only limited summary data is available for this year.$81.1$74.9$6.18$4.00$3.61$0.39
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$79.4$73.7$5.68$3.82
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$74.2$68.7$5.50$4.19
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 12, 2025
Return Version
2024v5.0
Gross Receipts
$5,746,115
Mission and Program Overview

Mission

Credit union - to provide services to approximately 10,859 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
Accounts Receivable$54,703,540$53,494,182▼ $1,209,358
Investments Other Securities$49,478,038$48,535,638▼ $942,400
Cash and Non-Interest-Bearing Accounts$12,020,795$14,251,657▲ $2,230,862
Savings and Temporary Cash Investments$10,981,000$12,969,000▲ $1,988,000
Rtn Earn Endowment Incm Other Fnds$5,213,704$6,615,072▲ $1,401,368
Prepaid Expenses and Deferred Charges$1,010,070$1,121,762▲ $111,692
Land, Buildings, and Equipment, Net$738,136$718,100▼ $20,036
Total Assets$130,464,501$132,710,838▲ $2,246,337
Other Assets Total$1,532,922$1,620,499▲ $87,577
Liabilities
Other Liabilities$123,823,779$125,276,973▲ $1,453,194
Accounts Payable and Accrued Expenses$1,427,018$818,793▼ $608,225
Total Liabilities$125,250,797$126,095,766▲ $844,969
Net Assets / Fund Balance
Total Net Assets Fund Balance$5,213,704$6,615,072▲ $1,401,368
Total Liabilities and Net Assets / Fund Balance$130,464,501$132,710,838▲ $2,246,337

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$305,929$1,182,816$1,488,745
Land$262,000-$262,000
Other Securities$587,172--
Compensation and Service Providers
Top Officer Pay19th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Greg OlmstedPresident/ceFT$150,656$35,741$186,397
Greg OlmstedPresident/CEO-$117,996$68,401$186,397

Board Members and Trustees

NameTitle
Waymon BurkeBoard Chair
Carolyn Love-riceSc Chair
Larry SharpBoard Member
Leah VallelyBoard Member
Melvina PhillipsBoard Member
Michael VanceBoard Member
Robert WatsonBoard Member
Rosemary HodgesBoard Member
Stephanie BurtonBoard Member
Robert LipscombBoard Treasu
Frances Harless-woodsSc Mem
Nathan L MillerSc Mem
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,713,808
Investment Income
$1,517,660
Other Revenue
$514,647
Change in Net Assets
$206,967
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,491,029
Salaries, Compensation, and Employee Benefits$2,048,119
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$1,612,695-$1,612,695
Interest-$1,406,690-$1,406,690
Occupancy-$330,651-$330,651
Office Expenses-$304,530-$304,530
Other Employee Benefits-$241,052-$241,052
Payroll Taxes-$127,841-$127,841
Other Expenses-$104,665-$104,665
All Other Expenses-$100,169-$100,169
Pension Plan Contributions-$66,531-$66,531
Travel-$27,679-$27,679
Total Functional Expenses$0$5,539,148$0$5,539,148
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
Regular Shares$55,158,142
All Other Shares$47,134,295
Share Drafts$22,984,536
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“The credit union is owend by the members.”

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

“The board of directors 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 manager. 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

“The credit union used cuna salary report to compare compensation.”

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

“The credit union used cuna salary report to compare compensation.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
North Alabama Educators
EIN
63-6023153
Phone
2566342423
Address
PO BOX 128, HUNTSVILLE, AL 35804

Signing Officer

Name
Greg Olmsted
Title
President/CEO
Phone
2566342423
Signed
2025-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Greg Olmsted
Formed
1957
Legal Domicile
Al
Voting Board Members
9
Independent Board Members
9
Employees
45
Volunteers
12

Preparer

Firm
Cu Audit & Compliance Group
Address
3692 COOLIDGE CT, TALLAHASSEE, FL 32311-7890
Preparer
Amanda Onkst
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, supervisory committee, and credit committee without compensation.”

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

“The credit union had no unrelated business income.”

Form 990, Part XI, Line 9

“Due to rounding 0 acct adj - cecl 0”

Raw XML AppendixShowing 400 of 408 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0HOURS OF SERVICE ARE RELATED TO DUTIES OF THE BOARD OF DIRECTORS, SUPERVISORY COMMITTEE, AND CREDIT COMMITTEE WITHOUT COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CREDIT UNION HAD NO UNRELATED BUSINESS INCOME.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CREDIT UNION IS OWEND BY THE MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTORS 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 MANAGER. 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/ExplanationTxt7THE CREDIT UNION USED CUNA SALARY REPORT TO COMPARE COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8THE CREDIT UNION USED CUNA SALARY REPORT TO COMPARE COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10DUE TO ROUNDING 0 ACCT ADJ - CECL 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, PART I, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 5, PART V, LINE 3B
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 7B
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9FORM 990, PAGE 6, PART VI, LINE 19
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