Credit Unions In The State Of Alabama

Organization Overview

Credit Unions In The State Of Alabama is located in Sheffield, 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, Credit Unions In The State Of Alabama employed 391 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Credit Unions In The State Of Alabama 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, Credit Unions In The State Of Alabama generated $57.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $50.3m during the year ending 12/2021. While expenses have increased by 4.4% 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

TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

90,490 MEMBERS SERVED TO PROMOTE THRIFT OPPORTUNITIES AND LOW COST LOANS.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Jack Henry & Associates
Core Processor
$563,280
Diamond Communication Solutions
Member Statements
$521,389
Quality Data Service
Software Development
$452,384
Bancsource
Equipment Maintenance
$727,468
Meridian Link
Lending Software
$371,169
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$34,328,957
Investment income $2,368,545
Tax Exempt Bond Proceeds $0
Royalties $174,538
Net Rental Income -$250
Net Gain/Loss on Asset Sales $1,393,473
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $57,547,152

Peer Organizations

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