Max Credit Union

Organization Overview

Max Credit Union is located in Montgomery, AL. The organization was established in 1971. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Max Credit Union employed 362 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Max Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.

For the year ending 12/2021, Max Credit Union generated $76.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $60.0m during the year ending 12/2021. While expenses have increased by 2.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE CREDIT UNION IS A COOPERATIVE COMMUNITY FINANCIAL INSTITUTION WHICH WAS ORGANIZED TO PROMOTE THRIFT AMONG ITS MEMBERS AS WELL AS TO PROVIDE A SOURCE OF CREDIT FOR ITS MEMBERS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

IN OUR EFFORTS TO PROMOTE THRIFT AMONG OUR MEMBERS, MAX PROVIDES COMPETITIVE SAVINGS PRODUCTS, WHICH INCLUDE SAVINGS, CHECKING, ANDCERTIFICATE OF DEPOSIT ACCOUNTS AS WELL AS IRA SAVINGS ACCOUNTS.


TO MEET THE FINANCIAL NEEDS OF OUR MEMBERS, MAX PROVIDES A SOURCE OF CREDIT BY OFFERING A VARIETY OF CONSUMER, REAL ESTATE, AND BUSINESS LENDING PRODUCTS AT REASONABLE RATES OF INTEREST.


IN ADDITION TO THE SAVINGS AND LENDING PRODUCTS WE OFFER, MAX PROVIDES A VARIETY OF OTHER FINANCIAL SERVICES TO MEET THE NEEDS OF OUR MEMBERS.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Jack Henry & Associates Inc
Core It Processing
$1,389,490
High Cotton
Statement Services
$1,240,287
Q2 Software
Homebanking Software
$883,852
Windstream
Communications
$793,797
Prosys
Software
$702,732
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$68,304,432
Investment income $7,434,424
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $1,058,576
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $76,797,432

Grants Awarded

Over the last fiscal year, Max Credit Union has awarded $30,550 in support to 3 organizations.

Grant RecipientAmount

RIVER REGION UNITED WAY

Org PageRecipient Profile

Montgomery, AL

PURPOSE: COMMUNITY GIVING

$15,000

Montgomery, AL

PURPOSE: COMMUNITY GIVING

$10,000

Pike Road, AL

PURPOSE: COMMUNITY GIVING

$5,550
View Grant Profile

Peer Organizations

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