Coosa Valley Credit Union
- Assets
- $521.2m
- Revenue
- $27.4m
- Investments
- $0.0
- Employees
- 120
- Location
- Rome, GA
- Founding
- Data as of
- 12/2021
- EIN
- 58-0664019
Organization Overview
Coosa Valley Credit Union is located in Rome, GA. As of 12/2021, Coosa Valley Credit Union employed 120 individuals. Coosa Valley Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE SAVINGS AND LENDING ACTIVITIES TO MEMBER OWNERS OF THE COOPERATIVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INCOME FROM THE CREDIT UNION MEMBERSHIP AND FROM INVESTMENT OF MEMBERS' FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andy F Harris President/ceo | Officer | 40 | $500,999 |
Guy Chambless CFO | Officer | 40 | $272,994 |
Saunders Jones III Clo | Officer | 40 | $263,439 |
A Dawn Harris COO | Officer | 40 | $262,882 |
Sean G Gauldin VP - Information Technology | Officer | 40 | $208,950 |
Serena L Stevenson VP - Hr/staff Development | Officer | 40 | $188,995 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Route 66 Member Insurance | 12/30/21 | $2,306,311 |
Jack Henry & Associates Inc Core Processor | 12/30/21 | $1,132,339 |
Fis Card Processing | 12/30/21 | $1,304,111 |
Graham Construction Construction/builder | 12/30/21 | $568,010 |
Cmg Atlanta Radio Advertising | 12/30/21 | $464,200 |
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 | $27,010,541 |
| Investment income | $334,049 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $36,000 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $27,380,590 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $3,372,956 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,024,148 |
| Pension plan accruals and contributions | $380,148 |
| Other employee benefits | $1,208,755 |
| Payroll taxes | $491,655 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,849 |
| Fees for services: Accounting | $30,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,061,941 |
| Advertising and promotion | $1,039,009 |
| Office expenses | $1,619,858 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,199,075 |
| Travel | $156,561 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $636,185 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,258,185 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $22,037,257 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,939,437 |
| Savings and temporary cash investments | $57,161,172 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,975 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $347,043,563 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $930,173 |
| Net Land, buildings, and equipment | $21,215,779 |
| Investments—publicly traded securities | $59,884,242 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,047,731 |
| Total assets | $521,231,072 |
| Accounts payable and accrued expenses | $8,554,231 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $470,575,147 |
| Total liabilities | $479,129,378 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $42,101,694 |
| Total liabilities and net assets/fund balances | $521,231,072 |
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