Credit Unions In The State Of Alabama

Organization Overview

Credit Unions In The State Of Alabama is located in Rainbow City, 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 338 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 $43.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.2% each year. All expenses for the organization totaled $35.9m during the year ending 12/2021. While expenses have increased by 6.2% 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

67,608 MEMBERS SERVED TO PROMOTE THRIFT OPPORTUNITIES AND LOW COST LOANS


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Board, Officers & Key Employees

Name (title)Compensation
Monte J Hill
Former CEO
$701,990
Amy Jackson
Mortgage Loan Officer
$416,531
Danny Varnon
President
$398,249
Robert Rayburn
Chief Lending Officer
$354,996
Curtis Letson
Executive Vice President
$229,596
Deborah Gray
Chief Financial Officer
$226,965

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Pro Building Systems
General Contracting
$1,745,879
Visa Debit Card Processing
Debit Card Processor
$1,683,950
Fsi
Professional Services
$958,158
Jack Henry & Associates
Core Processing System
$567,927
Glory Global Solutions
Technology Services
$423,355
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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$23,415,886
Investment income $364,635
Tax Exempt Bond Proceeds $0
Royalties $144,778
Net Rental Income $0
Net Gain/Loss on Asset Sales -$26,167
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $43,280,897

Peer Organizations

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