2024-10-02T09:41:20-05:00 2023-12-31 580692043 MAULDIN & JENKINS LLC 200 GALLERIA PKWY SE STE 1700 ATLANTA GA 303395946 990 2023-01-01 580905515 THE SOUTHERN CREDIT UNION SOUT 7704603267 430 EAST LANIER AVENUE FAYETTEVILLE GA 30214 KRIS TRAINOR CFO 7704603267 2024-09-30 1 0 MARY JO ALEXANDER P00002534 7709558600 2024-09-30 2023 2024-10-15 13:58:12Z RAY HULL 430 EAST LANIER AVENUE FAYETTEVILLE GA 30214 24671604 0 X WWW.SOUTHERNONLINE.ORG X STATE-CHARTERED CREDIT UNION 1963 GA AS A STATE-CHARTERED CREDIT UNION, WE PROVIDE THRIFT SAVINGS, LOANS AND OTHER FINANCIAL SERVICES TO OUR MEMBERS. 7 6 94 1 58558 0 0 2009372 14001214 16054271 4727797 6506288 397640 101673 19126651 24671604 16550 24070 0 0 7601438 8702918 0 0 0 7771565 10443811 15389553 19170799 3737098 5500805 543217468 527450922 512997406 490058044 30220062 37392878 OUR MISSION IS TO ENHANCE THE LIVES OF THE MEMBERS WE SERVE BY HELPING MAKE THEIR FINANCIAL GOALS A REALITY. 0 0 PROVIDE THRIFT SAVINGS, LOANS, AND OTHER FINANCIAL SERVICES TO 31,985 MEMBERS, AS A STATE-CHARTERED CREDIT UNION. 0 1 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 6079 0 1 94 1 1 1 0 0 0 0 0 0 0 X 7 6 0 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 GA X JIM PHILLIPS 7707191111 430 E LANIER AVE FAYETTEVILLE GA 30214 RAY HULL CEO 40.00 X X 1076880 0 218431 MORRIS KELLY BOARD CHAIRMAN 2.00 X X 16800 0 0 WILTON MARCHMAN BOARD VICE-CHAIR 2.00 X X 16800 0 0 MICHAEL FORAN BOARD MEMBER 1.50 X X 16800 0 0 ROBERT MATTHEWS BOARD MEMBER 1.50 X X 16800 0 0 RANDY HOBBS BOARD MEMBER 1.50 X X 16800 0 0 JOHN HALBERT BOARD SECRETARY 1.50 X X 16800 0 0 JIM PHILLIPS EVP 40.00 X 462282 0 185343 KRIS TRAINOR CFO 40.00 X 375552 0 94702 JAMES RICHARDS VP OF MORTGAGES 40.00 X 245722 0 77032 JOHN PURDY CHIEF LENDING OFFICER 40.00 X 206067 0 39752 TIM PLESS CHIEF TECHNOLOGY OFFICER 40.00 X 196772 0 28074 BARRY GRIFFIN VP OF BRANCH SERVICES 40.00 X 183912 0 38808 KEITH SALTZMAN SENIOR DATA ANALYST 40.00 X 167087 0 25574 SHANNON MESEROLE VP RISK MANAGEMENT 40.00 X 141860 0 14695 AMY GAY CHIEF MARKETING OFF 40.00 X 133366 0 22726 STEVEN RICHARDSON HR DIRECTOR 40.00 X 116071 0 29521 CHRIS RECHTORIS VP SR REGIONAL MKT MGR 40.00 X 108048 0 11228 JARED THOMPSON VP SR REGIONAL MKT MGR 40.00 X 106047 0 19219 3620466 0 805105 14 0 1 0 FISERV 255 FISERV DRIVE BROOKFIELD WI 53045 CARD AND CORE PROCESSING 1504434 DIGITAL INSIGHT PO BOX 740641 LOS ANGELES CA 900740641 HOMEBANKING 757181 BITDIAMOND COMMUNICATIONS SOLUTIONS 710 SW 34TH STREET RENTON WA 98057 STATEMENT PROCESSOR 216136 WALLACE ELECTRIC CO PO BOX 888 JACKSON GA 30233 ELECTRICIAN 209470 BLACKJACK PAVING PO BOX 988 FAIRBURN GA 30213 PAVING 187114 7 2009372 2009372 INTEREST ON LOANS 522100 10642478 10642478 FEES & OTHER OPERATING INCOME 522100 5411793 5353235 58558 16054271 6502788 6502788 101673 101673 3500 0 3500 3500 3500 24671604 15995713 58558 6607961 12070 12000 3322790 4204607 319218 426164 430139 44268 171493 28826 737156 310875 1799712 25071 760422 189459 50020 6 860636 143370 DIVDS AND INTEREST 1797963 LOAN SERVICING 1726909 INTERNET BANKING EXPENS 754787 PROVISION FOR LOAN LOSS 736765 306073 19170799 25387761 17927413 40358825 42321333 9054179 9257882 214700163 223258365 28201675 12379911 15089778 15821764 219624456 199380503 876486 987886 18125820 18495776 543217468 527450922 6975607 8298324 506021799 481759720 512997406 490058044 X 0 0 0 0 30220062 37392878 30220062 37392878 543217468 527450922 X 5500805 1922011 -250000 X 0 1 X 0 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4279334 4279334 16273566 5603106 10670460 427294 364381 62913 7221481 6412424 809057 15821764 SHARES AND DEPOSITS 481759720 481759720 26563672 1892068 1892068 24671604 0 24671604 19170799 0 19170799 0 19170799 1 EDUCATIONAL ASSISTANCE 5 12000 PART I, LINE 2: EDUCATIONAL GRANTS ARE AWARDED TO STUDENTS WHO RESIDE IN GEORGIA COUNTIES WHERE THE SOUTHERN CREDIT UNION CONDUCTS BUSINESS. MONIES ARE PAID DIRECTLY TO THE EDUCATIONAL INSTITUTION THEY ATTEND FOR THE BENEFIT OF THE SELECTED STUDENT. X 1 1 X X X 0 1 0 RAY HULL CEO 477414 0 150000 0 449466 0 202162 0 16269 0 1295311 0 400000 0 JIM PHILLIPS EVP 327282 0 100000 0 35000 0 172524 0 12819 0 647625 0 0 0 KRIS TRAINOR CFO 300552 0 75000 0 0 0 60000 0 34702 0 470254 0 0 0 JAMES RICHARDS VP OF MORTGAGES 219568 0 17500 0 8654 0 45000 0 32032 0 322754 0 0 0 JOHN PURDY CHIEF LENDING OFFICER 188292 0 17775 0 0 0 38023 0 1729 0 245819 0 0 0 TIM PLESS CHIEF TECHNOLOGY OFFICER 176772 0 20000 0 0 0 18100 0 9974 0 224846 0 0 0 BARRY GRIFFIN VP OF BRANCH SERVICES 168912 0 15000 0 0 0 18500 0 20308 0 222720 0 0 0 KEITH SALTZMAN SENIOR DATA ANALYST 152375 0 8750 0 5962 0 15600 0 9974 0 192661 0 0 0 SHANNON MESEROLE VP RISK MANAGEMENT 127860 0 14000 0 0 0 12900 0 1795 0 156555 0 0 0 AMY GAY CHIEF MARKETING OFF 121116 0 12250 0 0 0 12875 0 9851 0 156092 0 0 0 PART I, LINE 1A BOARD SPOUSES ATTENDED ANNUAL PLANNING SESSION PART I, LINE 4B ACCRUED EXPENSES WERE MADE DURING 2023 TO THE 457F RETIREMENT PLAN, BY THE SOUTHERN CREDIT UNION ON BEHALF OF THE FOLLOWING EMPLOYEES: RAY HULL, PRESIDENT & CEO $169,162 JIM PHILLIPS, EVP $139,524 KRIS TRAINOR, CFO $30,000 JAMES RICHARDS, VP OF MORTGAGES $22,500 JOHN PURDY, CHEIF LENDING OFFICER $19,000 STEVEN RICHARDSON, HR DIRECTOR $10,000 RAY HULL RECEIVED A $400,000 CASH DISTRIBUTION IN JANUARY 2023. THERE WERE NO OTHER 457(F) PAYOUTS IN 2023 FOR ANY OF THE OTHER EMPLOYEES LISTED ABOVE. RAY HULL PRESIDENT & CEO SPLIT-DOLLAR LIFE INSURANCE X 2000000 2698261 0 1 1 TRISHA SHERPY FORMER EVP SPLIT-DOLLAR LIFE INSURANCE X 3061018 4082460 0 1 1 JIM PHILLIPS CHIEF FINANCIAL OFFICER SPLIT-DOLLAR LIFE INSURANCE X 1893295 2477161 0 1 1 9257882 FORM 990, PART VI, SECTION A, LINE 6 ALL QUALIFIED PERSONS WITH A PAR VALUE SHARE ACCOUNT ARE MEMBERS. DURING THIS REPORTING YEAR THERE WERE APPROXIMATELY 31,985 MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE BOARD OF DIRECTORS ARE ELECTED BY THE CREDIT UNION MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B RETURN WILL BE PRESENTED TO THE BOARD OF DIRECTORS BY THE CFO. FORM 990, PART VI, SECTION B, LINE 12C EMPLOYEES AND OFFICERS ARE PROVIDED A CONFLICT OF INTEREST POLICY THAT INSTRUCTS THEM ON WHO TO CONTACT WITH ANY POTENTIAL CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 TOP MANAGEMENT COMPENSATION PACKAGES ARE APPROVED BY THE BOARD OF DIRECTORS. KEY AND OTHER EMPLOYEES ARE SET BY MANAGEMENT. FORM 990, PART VI, SECTION C, LINE 19 FINANCIALS ARE DISPLAYED IN CREDIT UNION BRANCH LOCATIONS AND AT THE ANNUAL MEMBER MEETING WITH THE ANNUAL REPORT. FORM 990, PART XI, LINE 9: ADOPTION OF ASU 2016-13 -250,000. FORM 990 PART X THERE ARE NO UNCERTAIN TAX LIABILITIES REPORTED UNDER FIN 48(ASC 740-10).