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WCU: Form 990, tax year 2021

View the entire original 990 at ProPublica ↗

Organization
WCU (EIN 63-0321814)
Tax period
2021-01-01 to 2021-12-31
Filed
2022-08-19
IRS object ID
202222319349300017
Schema version
2021v4.2
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2022-08-19T13:43:19-05:00ReturnTs
Tax Period End2021-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN630813240PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1PEARCE BEVILL LEESBURG MOORE PCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1110 OFFICE PARK DRAddressLine1Txt
CityBIRMINGHAMCityNm
State AbbreviationALStateAbbreviationCd
ZIP35223ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2021-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN630321814EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1WCU CREDIT UNIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlWCUCBusinessNameControlTxt
Phone2563555010PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line12505 HIGHWAY 31 SOUTHAddressLine1Txt
CityDECATURCityNm
State AbbreviationALStateAbbreviationCd
ZIP35603ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonSTEVEN DETERMANPersonNm
Person TitleCEOPersonTitleTxt
Phone2563555010PhoneNum
Signature2022-08-01SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstSTEVENPersonFirstNm
Person LastDETERMANPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonW GLENN BRIDGESPreparerPersonNm
PTINP00519867PTIN
Phone2053235440PhoneNum
Preparation2022-08-01PreparationDt

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer0TrustedCustomerCd
Authentication Assurance LevelAAL1AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2021TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerSTEVEN DETERMANPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line12505 HIGHWAY 31 SOUTHAddressLine1Txt
CityDECATURCityNm
State AbbreviationALStateAbbreviationCd
ZIP35603ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$1,252,585GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501cYes (X)Organization501cInd
Website AddressWWW.WCUCU.COMWebsiteAddressTxt
Type Of Organization OtherYes (X)TypeOfOrganizationOtherInd
Other Organization DscSTATE CHARTERED COOPERATIVE CREDIT UNIONOtherOrganizationDsc
Formation1948FormationYr
Legal Domicile StateALLegalDomicileStateCd
Activity Or MissionCOOPERATIVE CREDIT UNIONActivityOrMissionDesc
Voting Members Governing Body7VotingMembersGoverningBodyCnt
Voting Members Independent7VotingMembersIndependentCnt
Total Employee21TotalEmployeeCnt
Total Volunteers11TotalVolunteersCnt
Total Gross UBI$13,245TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$0PYContributionsGrantsAmt
CY Contributions Grants$0CYContributionsGrantsAmt
PY Program Service Revenue$670,276PYProgramServiceRevenueAmt
CY Program Service Revenue$1,252,585CYProgramServiceRevenueAmt
PY Investment Income$81,561PYInvestmentIncomeAmt
CY Investment Income$0CYInvestmentIncomeAmt
PY Other Revenue$569,641PYOtherRevenueAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$1,321,478PYTotalRevenueAmt
CY Total Revenue$1,252,585CYTotalRevenueAmt
PY Grants And Similar Paid$0PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$647,441PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$548,321CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$731,981PYOtherExpensesAmt
CY Other Expenses$772,079CYOtherExpensesAmt
PY Total Expenses$1,379,422PYTotalExpensesAmt
CY Total Expenses$1,320,400CYTotalExpensesAmt
PY Revenues Less Expenses-$57,944PYRevenuesLessExpensesAmt
CY Revenues Less Expenses-$67,815CYRevenuesLessExpensesAmt
Total Assets BOY$31,658,558TotalAssetsBOYAmt
Total Assets EOY$35,434,621TotalAssetsEOYAmt
Total Liabilities BOY$29,038,526TotalLiabilitiesBOYAmt
Total Liabilities EOY$32,882,404TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$2,620,032NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$2,552,217NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIIYes (X)InfoInScheduleOPartIIIInd
MissionTHIS CREDIT UNION IS A VOLUNTARY, COOPERATIVE, NON-PROFIT FINANCIAL INSTITUTION, CHARTERED UNDER THE ALABAMA CREDIT UNION ACT (CODE OF ALABAMA, 1975, TITLE 5 CHAPTER 17). ITS PRIMARY PURPOSE IS THE ENCOURAGEMENT OF THRIFT, THE CREATION OF A SOURCE OF CREDIT AT FAIR AND REASONABLE RATES OF INTEREST, AND THE PROVISION OF OPPORTUNITIES FOR ITS MEMBERS TO CONTROL THEIR OWN MONEY IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITION.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$1,320,400ExpenseAmt
DescCODE OF ALABAMA, SEC 5-17-1, STATES THAT A CREDIT UNION IS A COOPERATIVE SOCIETY INCORPORATED FOR THE TWOFOLD PURPOSE OF PROMOTING THRIFT AMONG ITS MEMBERS AND CREATING A SOURCE OF CREDIT FOR THEM AT LEGITIMATE RATES OF INTEREST. WCU CREDIT UNION, AN ALABAMA STATE CHARTERED CREDIT UNION, WAS ESTABLISHED TO PROVIDE THESE SERVICES TO ITS MEMBERS WHO LIVE, WORK, OR WORSHIP IN MORGAN AND LAWRENCE COUNTIES, ALABAMA, THE IMMEDIATE FAMILIES OF CURRENT MEMBERS, AND OTHER SUCH GROUPS AS ARE APPROVED BY THE BOARD OF DIRECTORS AND THE ADMINISTRATOR OF THE ALABAMA CREDIT UNION ADMINISTRATION. AS OF DECEMBER 31, 2021, THE CREDIT UNION HAD MEMBERSHIP AND PROVIDED SERVICES TO APPROXIMATELY 3,534 MEMBERS.Desc
Total Program Service Expenses$1,320,400TotalProgramServiceExpensesAmt
Described In Section501c30DescribedInSection501c3Ind
Schedule B Required0ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentYes (1)ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related InvstYes (1)ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other LiabilitiesYes (1)ReportOtherLiabilitiesInd
Include FIN48 Footnote0IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt0IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J Required0ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related Entity0RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document411IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (1)BackupWthldComplianceInd
Employee21EmployeeCnt
Employment Tax Returns FiledYes (1)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over LimitYes (1)UnrelatedBusIncmOverLimitInd
Form990 T FiledYes (1)Form990TFiledInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members7GoverningBodyVotingMembersCnt
Independent Voting Member7IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or StockholdersYes (1)MembersOrStockholdersInd
Election Of Board MembersYes (1)ElectionOfBoardMembersInd
Decisions Subject To ApprovaYes (1)DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (1)WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEOYes (1)CompensationProcessCEOInd
Compensation Process OtherYes (1)CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1STEVEN DETERMAN CEOBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone2563555010PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line12505 HIGHWAY 31 SOUTHAddressLine1Txt
CityDECATURCityNm
State AbbreviationALStateAbbreviationCd
ZIP35603ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (11 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtOfficerOfficerInd
TIM LEDLOW
CHAIRMAN OF BOARD1.00Yes (X)$0$0$0
DAVID A TUTWILER
SECRETARY1.00Yes (X)$0$0$0
JIM BURLESON
DIRECTOR1.00Yes (X)$0$0$0
MARK MOODY
VICE CHAIRMAN1.00Yes (X)$0$0$0
BOBBY SPEEGLE
TREASURER1.00Yes (X)$0$0$0
LUKE ETHEREDGE
DIRECTOR1.00Yes (X)$0$0$0
DEWAYNE EDDY
DIRECTOR1.00Yes (X)$0$0$0
KEVIN CHAMBERS
SUPERVISORY COMMITTEE CHAIRMAN1.00Yes (X)$0$0$0
MIKE BRISCOE
SUPERVISORY COMMITTEE MEMBER1.00Yes (X)$0$0$0
BRUCE YOUNG
SUPERVISORY COMMITTEE MEMBER1.00Yes (X)$0$0$0
CHRISTI R THOMPSON
CEO45.00$76,534$0$14,862Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$76,534TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$14,862TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K0IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K0TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (2 entries)

Address Line1ContractorAddress/USAddress/AddressLine1TxtCityContractorAddress/USAddress/CityNmState AbbreviationContractorAddress/USAddress/StateAbbreviationCdZIPContractorAddress/USAddress/ZIPCdServicesServicesDescCompensationCompensationAmt
EPL INC
22 INVERNESS CENTER PARKWAY SUITEBIRMINGHAMAL35242DATA PROCESSING$168,820
LEAGUE OF SOUTHEAST CREDIT UNIONS
22 INVERNESS CENTER PARKWAY SUITEBIRMINGHAMAL35242DEBIT CARDS, AUDIT, ANNUAL DUES$136,372
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K2CntrctRcvdGreaterThan100KCnt

Program Service Revenue ProgramServiceRevenueGrp (3 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmtUnrelated Business RevenueUnrelatedBusinessRevenueAmt
LOAN INTEREST INCOME522100$629,072$629,072
FINANCIAL SERVICES FEE522100$563,397$550,152$13,245
INVESTMENT INCOME522100$60,116$60,116
FieldValueIRS element (for citing)
Total Program Service Revenue$1,252,585TotalProgramServiceRevenueAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$1,252,585TotalRevenueColumnAmt
Related Or Exempt Func Income$1,239,340RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$13,245UnrelatedBusinessRevenueAmt
Exclusion$0ExclusionAmt
FieldValueIRS element (for citing)
Info In Schedule O Part IXYes (X)InfoInScheduleOPartIXInd

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$91,396TotalAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$333,773TotalAmt

Pension Plan Contributions PensionPlanContributionsGrp

FieldValueIRS element (for citing)
Total$10,376TotalAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$79,730TotalAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$33,046TotalAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$7,020TotalAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$22,833TotalAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$399,817TotalAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$48,990TotalAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$59,454TotalAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$889TotalAmt

Conferences Meetings ConferencesMeetingsGrp

FieldValueIRS element (for citing)
Total$2,222TotalAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$97,602TotalAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$33,458TotalAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmt
MEMBER SHARE DIVIDENDS$10,577
CHECK AND LOAN SERVICIN$32,997
OTHER OPERATING EXPENSE$23,348
DUES AND SUBSCRIPTIONS$12,318

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$20,554TotalAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$1,320,400TotalAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$784,606BOYAmt
EOY$929,811EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$13,638,572BOYAmt
EOY$13,306,634EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

FieldValueIRS element (for citing)
BOY$14,471,991BOYAmt
EOY$12,977,883EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$155,182BOYAmt
EOY$123,717EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$2,883,885LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$522,942LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$2,301,220BOYAmt
EOY$2,360,943EOYAmt

Investments Program Related InvestmentsProgramRelatedGrp

FieldValueIRS element (for citing)
EOY$5,420,000EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$306,987BOYAmt
EOY$315,633EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$31,658,558BOYAmt
EOY$35,434,621EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$116,277BOYAmt
EOY$113,202EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$28,922,249BOYAmt
EOY$32,769,202EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$29,038,526BOYAmt
EOY$32,882,404EOYAmt
FieldValueIRS element (for citing)
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind

Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp

FieldValueIRS element (for citing)
BOY$2,620,032BOYAmt
EOY$2,552,217EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$2,620,032BOYAmt
EOY$2,552,217EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$31,658,558BOYAmt
EOY$35,434,621EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss-$67,815ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS Audited0FSAuditedInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule D IRS990ScheduleD

Land LandGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$1,267,782OtherCostOrOtherBasisAmt
Book Value$1,267,782BookValueAmt

Buildings BuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$924,866OtherCostOrOtherBasisAmt
Depreciation$307,837DepreciationAmt
Book Value$617,029BookValueAmt

Leasehold Improvements LeaseholdImprovementsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$338,650OtherCostOrOtherBasisAmt
Depreciation$68,787DepreciationAmt
Book Value$269,863BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$352,587OtherCostOrOtherBasisAmt
Depreciation$146,318DepreciationAmt
Book Value$206,269BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$2,360,943TotalBookValueLandBuildingsAmt

Invst Program Related Org InvstProgramRelatedOrgGrp (3 entries)

DescDescBook ValueBookValueAmtMethod ValuationMethodValuationCd
HTM DEBT SECURITIES$2,750,000C
DEPOSITS IN CORPORATE CREDIT UNIONS$1,430,000C
CERTIFICATES OF DEPOSIT$1,240,000C
FieldValueIRS element (for citing)
Total Book Value Program Rltd$5,420,000TotalBookValueProgramRltdAmt

Other Liabilities Org OtherLiabilitiesOrgGrp

FieldValueIRS element (for citing)
DescMEMBER SHARE AND CERTIFICATE ACCOUNTSDesc
Amt$32,769,202Amt
FieldValueIRS element (for citing)
Total Liability$32,769,202TotalLiabilityAmt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (9 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION A, LINE 6ALABAMA BANKING CODE, SECTION 5-17-5 STATES THAT, "CREDIT UNION MEMBERSHIP SHALL CONSIST OF THE INCORPORATORS AND SUCH OTHER PERSONS AS MAY BE ELECTED TO MEMBERSHIP AND WHO SUBSCRIBE TO AT LEAST ONE SHARE AND PAY THE INITIAL INSTALLMENT THEREON AND THE ENTRANCE FEE. ORGANIZATIONS, INCORPORATED OR OTHERWISE, COMPOSED FOR THE MOST PART OF THE SAME GENERAL GROUP AS THE CREDIT UNION MEMBERSHIP MAY BE MEMBERS. CREDIT UNION ORGANIZATION SHALL BE LIMITED TO GROUPS, OF BOTH LARGE AND SMALL MEMBERSHIP, HAVING A COMMON BOND OF OCCUPATION OR ASSOCIATION OR TO GROUPS WITHIN A WELL-DEFINED NEIGHBORHOOD, COMMUNITY OR RURAL DISTRICT." WCU CREDIT UNION,AN ALABAMA STATE CHARTERED CREDIT UNION, WAS ESTABLISHED TO PROVIDE THESE SERVICES TO ITS MEMBERS WHO LIVE, WORK, OR WORSHIP IN MORGAN AND LAWRENCE COUNTIES, ALABAMA, THE IMMEDIATE FAMILIES OF CURRENT MEMBERS, AND OTHER SUCH GROUPS AS ARE APPROVED BY THE BOARD OF DIRECTORS AND THE ADMINISTRATOR OF THE ALABAMA CREDIT UNION ADMINISTRATION. AS OF DECEMBER 31, 2021, THE CREDIT UNION HAD MEMBERSHIP AND PROVIDED SERVICES TO APPROXIMATELY 3,534 MEMBERS.
FORM 990, PART VI, SECTION A, LINE 7ATHE MEMBERS OF WCU ELECT THE CREDIT UNION'S BOARD OF DIRECTORS AT THE ANNUAL MEETING. TERMS ARE THREE YEARS AND ARE STAGGERED SO THAT AN APPROXIMATELY EQUAL NUMBER OF TERMS EXPIRE ANNUALLY. NOMINATIONS FOR AVAILABLE POSITIONS ARE PRINCIPALLY MADE BY A NOMINATING COMMITTEE APPOINTED BY THE PRESIDENT OR CHAIRMAN OF THE BOARD, BUT, UNDER CERTAIN CIRCUMSTANCES, MAY ALSO BE PRESENTED AS WRITTEN PETITIONS OF AT LEAST THREE MEMBERS OR CALLED FROM THE FLOOR. ELECTIONS ARE DETERMINED BY A PLURALITY VOTE, AND EACH MEMBER IS ALLOWED ONLY ONE VOTE. WRITTEN BALLOTS ARE REQUIRED WHEN THERE IS MORE THAN ONE NOMINEE FOR A POSITION. ABSENTEE BALLOTS MAY BE PROVIDED FOR AT THE DESCRETION OF THE BOARD OF DIRECTORS. PROXY VOTING IS NOT ALLOWED, BUT AGENTS DESIGNATED IN WRITING MAY VOTE ON BEHALF OF MEMBERS WHO ARE NOT NATURAL PERSONS. A MEMBER MUST BE 18 YEARS OF AGE OR OLDER TO VOTE. A MAJORITY OF THE BOARD OF DIRECTORS MAY VOTE TO FILL VACANCIES IN ITS OWN NUMBER UNTIL THE NEXT ANNUAL MEETING.
FORM 990, PART VI, SECTION A, LINE 7BTHE FOLLOWING TYPES OF DECISIONS ARE SUBJECT TO APPROVAL BY THE CREDIT UNION'S MEMBERS: DISSOLUTION AND MERGER OF THE CREDIT UNION, ELECTION AND TERMINATION OF BOARD MEMBERS, ELECTION AND TERMINATION OF SUPERVISORY COMMITTEE MEMBERS, THE AMENDMENT OF THE BYLAWS, AND CONVERSION FROM STATE TO FEDERAL CHARTER.
FORM 990, PART VI, SECTION B, LINE 11BUPON COMPLETION OF THE CREDIT UNION'S FORM 990, THE RETURN IS PRESENTED TO THE BOARD AT A BOARD OF DIRECTORS MEETING. AT THE MEETING, THE BOARD MEMBERS REVIEW THE TAX RETURN AND ARE FREE TO ASK ANY QUESTIONS OR ENGAGE IN DISCUSSION REGARDING ANY TOPIC COVERED IN THE RETURN. ONCE THE GOVERNING BODY HAS REVIEWED AND APPROVED THE FORM 990, THE RETURN IS FILED WITH THE INTERNAL REVENUE SERVICE.
FORM 990, PART VI, SECTION B, LINE 12CCREDIT UNION STAFF REVIEW THE CONFLICT OF INTEREST POLICY EACH YEAR WITH THE CREDIT UNION'S MANAGER. AT THIS MEETING, THE STAFF MEMBERS ARE FREE TO ASK ANY QUESTIONS REGARDING THIS POLICY. THE CREDIT UNION MANAGER CONSISTENTLY MONITORS THE STAFF TO MAKE SURE EVERYONE IS IN COMPLIANCE WITH THE POLICY. IT IS THE RESPONSIBILITY OF THE STAFF OR DIRECTORS TO IMMEDIATELY NOTIFY THE CREDIT UNION MANAGERS OF ANY POTENTIAL CONFLICT OF INTEREST.
FORM 990, PART VI, SECTION B, LINE 15COMPENSATION FOR OFFICERS, KEY EMPLOYEES, & TOP MANAGEMENT OFFICIALS IS DETERMINED ON A YEARLY BASIS. BEFORE COMPENSATION IS SET, THE BOARD OF DIRECTORS EXAMINES THE TYPE AND AMOUNT OF WORK PERFORMED BY THE EMPLOYEES WHILE TAKING INTO ACCOUNT THE CREDIT UNION'S PRIOR YEAR INCOME.
FORM 990, PART VI, SECTION C, LINE 18THE CREDIT UNION MAKES AVAILABLE ITS FINANCIAL STATEMENTS VIA THE NCUA WEBSITE WHICH CAN BE FOUND AT WWW.NCUA.GOV. OTHER DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
FORM 990, PART VI, SECTION C, LINE 19THE CREDIT UNION MAKES AVAILABLE ITS FINANCIAL STATEMENTS VIA THE NCUA WEBSITE WHICH CAN BE FOUND AT WWW.NCUA.GOV. THE CREDIT UNION ALSO MAKES ITS FINANCIAL STATEMENTS AVAILABLE VIA ITS WEBSITE FOR THE ANNUAL MEETING. OTHER DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
FORM 990, PART IX, LINE 11GOTHER PROFESSIONAL SERVICES 72,674. ATM & DEBIT CARD SERVICES 156,434. DATA PROCESSING SERVICES 170,709.

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