2024-11-13T14:47:20-07:00 2023-12-31 990 2023-01-01 580664019 Coosa Valley Credit Union COOS 7062358551 2010 Redmond Circle Rome GA 30165 Guy Chambless CFO 7062358551 2024-11-13 1 2023 2024-10-15 13:58:12Z Andy F Harris President - CEO 2010 Redmond Circle Rome GA 30165 42546275 0 X www.mycvcu.org X 2017 GA Provide savings and lending activities to member owners of the cooperative. 12 12 140 12 0 0 0 0 33258971 40219842 1257065 2290433 36000 36000 34552036 42546275 0 0 0 0 11863169 13100904 0 0 0 15568179 24683668 27431348 37784572 7120688 4761703 596907739 633211964 551910467 584110971 44997272 49100993 Provide savings and lending activities to member owners of the cooperative. 0 0 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. 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 8565 0 1 140 1 0 0 0 0 0 0 0 0 X 12 12 1 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X Guy Chambless 7062358551 2010 Redmond Circle Rome GA 30165 Andy F Harris President/CEO 40 0 X 626178 0 64633 Guy Chambless CFO 40 0 X 318451 0 66004 Saunders Jones III CLO 40 0 X 314905 0 56189 A Dawn Harris COO 40 0 X 312872 0 27556 Sean G Gauldin VP of Infomation Technology 40 0 X 228637 0 24436 Serena L Stevenson VP HR/Staff Development 40 0 X 193561 0 31720 Jessica L Newberry VP of Compliance & Process Development 40 0 X 185142 0 27888 Sharon R Presley VP of Operations 40 0 X 186860 0 25951 Rhonda K Wilson VP of Indirect Services 40 0 X 186127 0 20317 Sharon L McAlister VP of Branch Operations 40 0 X 188218 0 15445 Stephanie Graves VP of Marketing 40 0 X 180175 0 21259 Jacob W Simpson VP of Continuous Improvement 40 0 X 184468 0 8529 Sherry D Dunn Branch Manager 40 0 X 126219 0 13109 Kimberly R Acrey Director of Loan Operations 40 0 X 105487 0 26235 Brett M Hunter Branch Manager 40 0 X 115381 0 13574 Dennis G Johnson Director of Facilities & Maintenance 40 0 X 117312 0 11572 Robert E Smyth Internal Communications 40 0 X 113531 0 11931 Grayson S Bagwell Branch Manager 40 0 X 114981 0 10370 Vicki R Thompson Branch Manager 40 0 X 106900 0 17630 Mitchell L Sims Director of Information Systems 40 0 X 116012 0 6092 David W Hulsey Branch Manager 40 0 X 107716 0 10912 Emily H Oyler Branch Manager 40 0 X 102514 0 13041 James M Chambers Accounting Supervisor 40 0 X 103863 0 11421 Stephanie E Davis AVP of Operations 40 0 X 101784 0 11819 Glenn W Williams Director of Collections 40 0 X 102172 0 11207 Heather A Lance Audit Manager 40 0 X 100403 0 11717 Jennifer A Lipham Director of Branch Operations - North 40 0 X 103977 0 7869 Benjamin M Walcher Programmer Analyst 40 0 X 101231 0 9804 G Cleveland Hartley Board Chariman 2 0 X 2500 0 0 Kenneth C Duskey Board Treasurer 2 0 X 2500 0 0 Randy Quick Board Vice Chairman 2 0 X 2500 0 0 Richard DiPrima Board Secretary 1 0 X 2500 0 0 Kelly Barnes Board Member 1 0 X 2500 0 0 Chris Brock Board Member 1 0 X 2500 0 0 Matthew Crane Board Member 1 0 X 2500 0 0 Pam Givens Board Member 1 0 X 2500 0 0 Lucian Harris Board Member 1 0 X 2500 0 0 Jenny Shealy Board Member 1 0 X 2500 0 0 Brad Wilson Board Member 1 0 X 2500 0 0 Chad Woods Board Member 1 0 X 2500 0 0 4875077 0 588230 26 0 1 0 Graham Construction 218 E Main Cartersville GA 30120 Construction/Builder 6348038 Route 66 P O Box 1075 Mountain Home AR 72654 Member Insurance 2920736 Jack Henry & Associates Inc P O Box 609 Monett MO 65708 Core Processor 1537118 CMG Atlanta Radio P O Box 83191 Chicago IL 606910191 Advertising 642336 Allied Solutions LLC 350 Veterans Way Suite 200 Carmel IN 46032 Member Insurance 618796 34 0 Loan Interest 522100 27468540 27468540 0 0 Fee/Other Income 522100 12751302 12751302 0 0 0 0 0 0 40219842 2290433 2290433 0 0 0 0 0 0 0 0 0 0 36000 0 0 0 36000 0 36000 36000 0 0 0 0 0 42546275 42546275 0 0 X 4875077 5586814 485704 1508457 644852 10779 5529717 1412179 2034347 1600125 293637 5180079 1809893 Provision For Losses 5424581 Loan Servicing 1079799 Dues 82125 State Operating Fee 60103 166304 37784572 0 0 0 19257013 17905246 40150066 22048443 34930 7142752 438954922 472585366 957958 1318471 46388069 12769251 24230871 33618818 54111197 57005068 19210782 21587800 596907739 633211964 9450771 11157646 7650105 7655833 534809591 565297492 551910467 584110971 X 0 0 0 0 44997272 49100993 44997272 49100993 596907739 633211964 4761703 -657982 0 0 0 0 X 0 1 1 0 0 5946462 5946462 0 26334498 4351885 21982613 0 2489617 886896 1602721 0 11617492 7530470 4087022 0 0 0 0 33618818 Regular Shares 233951488 Share Drafts 138584179 Money Market & Other Shares 46369091 IRA Shares 7113464 Share & IRA Certificates 139279270 565297492 X Schedule D, Part X, Line 2 The Credit Union is exempt from most federal, state, and local taxes under the provisions of the Internal Revenue Code and state tax laws. However, the Credit Union is subject to unrelated business income tax. The Income Taxes Topic of the FASB ASC clarifies accounting for uncertainty in income taxes reported in the financial statements. The interpretation provides criteria for assessment of individual tax positions and a process for recognition and measurement of uncertain tax positions. Tax positions are evaluated on whether they meet the "more likely than not" standard for sustainability on examination by tax authorities. Management has determined there are no material uncertain tax positions. However, the Credit Union is subject to unrelated business income tax. X X 1 1 X X X 0 1 0 Andy F Harris President/CEO 397919 0 228259 0 0 0 64633 0 25571 0 716382 0 0 0 Guy Chambless CFO 231792 0 86659 0 0 0 66004 0 2170 0 386625 0 0 0 Saunders Jones III CLO 228247 0 86659 0 0 0 56189 0 25311 0 396406 0 0 0 A Dawn Harris COO 226214 0 86659 0 0 0 27556 0 19009 0 359438 0 0 0 Sean G Gauldin VP of Infomation Technology 205700 0 22938 0 0 0 24436 0 18479 0 271553 0 0 0 Serena L Stevenson VP HR/Staff Development 175235 0 18326 0 0 0 31720 0 16815 0 242096 0 0 0 Sharon L McAlister VP of Branch Operations 170715 0 17503 0 0 0 15445 0 1746 0 205409 0 0 0 Sharon R Presley VP of Operations 167412 0 19448 0 0 0 25951 0 22592 0 235403 0 0 0 Rhonda K Wilson VP of Indirect Services 168624 0 17503 0 0 0 20317 0 9603 0 216047 0 0 0 Jessica L Newberry VP of Compliance & Process Development 167194 0 17948 0 0 0 27888 0 27082 0 240112 0 0 0 Jacob W Simpson VP of Continuous Improvement 167523 0 16945 0 0 0 8529 0 23414 0 216411 0 0 0 Stephanie Graves VP of Marketing 161172 0 19003 0 0 0 21259 0 25931 0 227365 0 0 0 Sherry D Dunn Branch Manager 115536 0 10683 0 0 0 13109 0 10395 0 149723 0 0 0 Dennis G Johnson Director of Facilities & Maintenance 104332 0 12980 0 0 0 11572 0 10018 0 138902 0 0 0 Mitchell L Sims Director of Information Systems 102115 0 13897 0 0 0 6092 0 10533 0 132637 0 0 0 Brett M Hunter Branch Manager 104919 0 10462 0 0 0 13574 0 10330 0 139285 0 0 0 Grayson S Bagwell Branch Manager 104945 0 10036 0 0 0 10370 0 17115 0 142466 0 0 0 Robert E Smyth Internal Communications 102328 0 11203 0 0 0 11931 0 986 0 126448 0 0 0 David W Hulsey Branch Manager 96466 0 11250 0 0 0 10912 0 9758 0 128386 0 0 0 Vicki R Thompson Branch Manager 95992 0 10908 0 0 0 17630 0 9987 0 134517 0 0 0 Kimberly R Acrey Director of Loan Operations 94107 0 11380 0 0 0 26235 0 17816 0 149538 0 0 0 Jennifer A Lipham Director of Branch Operations - North 92227 0 11750 0 0 0 7869 0 19229 0 131075 0 0 0 James M Chambers Accounting Supervisor 93042 0 10821 0 0 0 11421 0 9323 0 124607 0 0 0 Emily H Oyler Branch Manager 91889 0 10625 0 0 0 13041 0 15466 0 131021 0 0 0 Glenn W Williams Director of Collections 91465 0 10706 0 0 0 11207 0 22119 0 135497 0 0 0 Stephanie E Davis AVP of Operations 90659 0 11125 0 0 0 11819 0 24665 0 138268 0 0 0 Benjamin M Walcher Programmer Analyst 95898 0 5333 0 0 0 9804 0 9298 0 120333 0 0 0 Heather A Lance Audit Manager 90368 0 10036 0 0 0 11717 0 9247 0 121368 0 0 0 Schedule J, Part I, Line 1a When overnight travel is required for conferences, meetings, etc. the credit union pays for a companion to accompany the employee/director on the trip. Country club dues are paid on behalf of the CEO & CLO due to business benefits of having those memberships. Schedule J, Part I, Line 4 CEO, CFO, CLO, & COO are all part of a deferred compensation arrangement - credit union only life insurance plan. CEO also has a split dollar arrangement. Form 990, Part VI, Section A, Line 2 G. Cleveland Hartley and Chad Woods - family relationship. Form 990, Part VI, Section A, Line 6 The organization has members. Form 990, Part VI, Section A, Line 7a The credit union membership may participate in the election of officials. Form 990, Part VI, Section A, Line 7b Members of the credit union have the right to approve the governing body's election and removal of members of the governing body, as well as other matters that are subject to the approval of members of the credit union as the occur. Form 990, Part VI, Section B, Line 11b All financial numbers are reviewed for accuracy with final YTD financial statements. The completed return is then reviewed with prior return for accuracy. Form 990, Part VI, Section B, Line 12c The organization maintains a conflict of interest policy within its code of ethics. This policy is enforced at all times and reviewed periodically by our board of directors, supervisory committee and/or internal audit department. Form 990, Part VI, Section B, Line 15 The organization uses survey data during an annual review process to determine the reasonableness of all compensation and benefits. The review of the CEO's compensation is a function of the board of directors annually. The board uses and executive compensation survey from an independent third party to determine the CEO's compensation. For all other officer/key employee positions in the organization, pay ranges are reviewed and approved on an annual basis by the CEO utilizing data from an independent compensation study. Form 990, Part VI, Section C, Line 19 The organizations governing documents and conflict of interest policy are not made available to the public. The financial statements are available upon request and/or via the quarterly 5300 filing. Form 990, Part IX, Line 11g Card & Processing Expenses: $4,299,276; Other Professional Fees: $1,230,441