2022-11-04T11:16:38-05:00 2021-12-31 454084437 WARREN AVERETT LLC 350 W CEDAR STREET SUITE 400 PENSACOLA FL 32502 990 2021-01-01 630421006 GUARDIAN CREDIT UNION GUAR 3342449999 418 MADISON AVENUE MONTGOMERY AL 36104 HEATH HARRELL CEO 3342449999 2022-11-03 1 HEATH HARRELL 999009999 CLAIRE C DUREN CPA P01577924 8504357400 2022-11-03 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z HEATH HARRELL 418 MADISON AVENUE MONTGOMERY AL 36104 80408278 0 X WWW.MYGUARDIANCU.COM X STATE-CHARTERED CREDIT UNION 1958 AL COOPERATIVE SOCIETY INCORPORATED FOR THE TWO-FOLD PURPOSE OF PROMOTING THRIFT AMONG ITS MEMBERS AND CREATING A SOURCE OF CREDIT FOR THEM AT LEGITIMATE RATES OF INTEREST. 7 7 284 10 596826 894 0 0 32404120 35801610 1578297 1724889 15268288 18175311 49250705 55701810 90000 305000 0 0 16993487 18717534 0 0 0 25245468 26541033 42328955 45563567 6921750 10138243 694104820 763618487 634223376 694288018 59881444 69330469 X COOPERATIVE SOCIETY INCORPORATED FOR THE TWO-FOLD PURPOSE OF PROMOTING THRIFT AMONG ITS MEMBERS AND CREATING A SOURCE OF CREDIT FOR THEM AT LEGITIMATE RATES OF INTEREST. 0 0 ALABAMA BANKING CODE, SECTION, 5-17-1, STATES THAT A CREDIT UNION IS A COOPERATIVE SOCIETY INCORPORATED FOR THE TWO-FOLD PURPOSE OF PROMOTING THRIFT AMONG ITS MEMBERS AND CREATING A SOURCE OF CREDIT FOR THEM AT LEGITIMATE RATES OF INTEREST. GUARDIAN CREDIT UNION, AN ALABAMA STATE-CHARTERED CREDIT UNION, PROVIDES THESE SERVICES TO ITS MEMBERS WHO ARE PRIMARILY MEMBERS/EMPLOYEES AND THEIR RELATIVES OF THE ALABAMA ARMY AND NATIONAL GUARD, MUNICIPAL EMPLOYEES OF THE CITY OF MONTGOMERY, ALABAMA, AND VARIOUS DEPARTMENTS OF THE STATE OF ALABAMA. THE CREDIT UNION'S FIELD OF MEMBERSHIP ALSO INCLUDES SELECTED EMPLOYEE GROUPS AND IS OPEN TO ALL INDIVIDUALS WHO WORK, WORSHIP, ATTEND SCHOOL OR RESIDE IN AUTAUGA, BUTLER, CHILTON, COOSA, COVINGTON, CRENSHAW, ELMORE, LEE, LOWNDES, MACON, MONTGOMERY, PIKE, RUSSELL, AND TALLAPOOSA COUNTIES. AS OF DECEMBER 31, 2021, THE CREDIT UNION HAD MEMBERSHIP AND PROVIDED SERVICE TO APPROXIMATELY 81,323 MEMBERS. 0 0 1 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 14981 0 1 284 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 0 0 0 1 1 1 0 X BECKY LEE 3342449999 418 MADISON AVENUE MONTGOMERY AL 36104 SCOTT KRAMER CHAIRMAN 1.00 X X 0 0 0 THERMAN DENNIS VICE CHAIR 1.00 X X 0 0 0 RICK RONEY TREASURER 1.00 X X 0 0 0 JAMES HENRY SECRETARY 1.00 X X 0 0 0 MICHAEL BELCHER DIRECTOR 1.00 X 0 0 0 GRETA WILLIAMS DIRECTOR 1.00 X 0 0 0 PAM NEWMAN DIRECTOR 1.00 X 0 0 0 HEATH HARRELL CEO 50.00 X 558783 0 73701 BECKY LEE CFO 45.00 X 239939 0 61512 NIKITA MCCLAIN CCO 45.00 X 277916 0 76155 JOSEPH ROBISON VP LENDING 45.00 X 175409 0 58879 SCOTT ROSEN VP INFORMATION TECHNOLOGY 45.00 X 168699 0 57740 DANIEL POST VP FINANCE 45.00 X 159882 0 54842 J LINDSEY MCDONALD VP HUMAN RESOURCES 45.00 X 150869 0 49866 LINDSEY WALTERS VP BRANCHES 45.00 X 143515 0 44956 1875012 0 477651 20 0 1 0 JACK HENRY & ASSOCIATES INC PO BOX 807 663 HWY 60 MONETT MO 65708 CORE SOFTWARE 798210 ACCESS SOFTEK INC 727 ALLSTON WAY BERKELEY CA 94710 ONLINE & MOBILE BANKING SERVICES 393843 FEDCORP 901 INDUSTRIAL PARK CIRCLE BESSEMER AL 35022 ATM & CASH DRAWER MAINTENANCE, SERVICING 189700 SHI INTERNATIONAL CORP 6705 9TH AVE NW SEATTLE WA 98117 SOFTWARE LICENSES 185279 CHAMBLESS MATH CARR PC PO BOX 230759 MONTGOMERY AL 36123 COLLECTION SERVICES 173180 14 LOAN INTEREST INCOME 522100 35801610 35801610 35801610 983695 983695 25447662 24706468 741194 741194 741194 NSF CHARGES 522100 6753060 6753060 SERVICE FEE AND OTHER INCOME 522100 5661919 5661919 INTERCHANGE INCOME 522100 5569154 5569154 191178 -405648 596826 18175311 55701810 53380095 596826 1724889 280000 25000 1288006 13369556 1061661 1943643 1054668 42037 124799 144907 1738288 1435531 2499640 791880 170486 135462 5376137 830247 183583 UBI TAX EXPENSE 9233 ATM AND DEBIT CARD EXPE 5465683 PROVISION FOR LOAN LOSS 5280000 LOAN SERVICING 949337 1363783 45563567 10243637 10694416 59468627 48896414 726861 10012186 523853463 590139491 1245692 1186187 27633138 7541738 19796305 20091400 61326763 63895068 7032361 6868697 1113593 1068573 9297518 10766055 694104820 763618487 10010754 10608679 25000000 0 599212622 683679339 634223376 694288018 X 0 0 0 0 59881444 69330469 59881444 69330469 694104820 763618487 X 10138243 -1266402 577184 X X 0 1 X 1 0 3185 3185 3185 1 STATE ACULAC 22 INVERNESS PARKWAY STE 200 BIRMINGHAM AL 35242 521681138 3185 PART I-A, LINE 1: ACULAC IS THE POLITICAL ACTION COMMITTEE FOR THE LEAGUE OF SOUTHEASTERN CREDIT UNIONS, OUR STATE TRADE ASSOCIATION. FUNDS ARE USED TO SUPPORT POLITICAL CANDIDATES AND PARTIES AT THE STATE LEVEL. AMONG THOSE ELIGIBLE TO RECEIVE SUPPORT FROM ACULAC ARE CANDIDATES FOR THE ALABAMA HOUSE OF REPRESENTATIVES, ALABAMA SENATE, GOVERNOR, LT. GOVERNOR, ATTORNEY GENERAL, SECRETARY OF STATE, STATE TREASURER, STATE PARTY COMMITTEES, LEADERSHIP PACS (WHERE APPLICABLE) AND LOCAL RACES. 6640820 6640820 16234952 4883669 11351283 156465 24006 132459 4600901 2634063 1966838 20091400 MEMBERS' SHARE AND SAVINGS ACCOUNTS 683679339 683679339 X 55692577 -9233 -9233 55701810 0 55701810 45554334 0 45554334 9233 9233 45563567 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTES, FROM MOST FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION FILES A FEDERAL FORM 990 AND HAS A DECEMBER 31 TAX YEAR END. THE STATE OF ALABAMA IMPOSES A 6.5% EXCISE TAX ON THE TAXABLE INCOME OF STATE-CHARTERED CREDIT UNIONS AS OF DECEMBER 31, EACH TAX YEAR. THE CREDIT UNION HAS ASSESSED ITS ACTIVITIES AND ANY POTENTIAL FEDERAL INCOME TAX LIABILITY BASED ON THE GUIDANCE FROM THE PROVISIONS OF FASB ASC 740, INCOME TAXES, ASSOCIATED WITH UNCERTAINTY IN INCOME TAX POSITIONS. MANAGEMENT BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR THE INCOME TAX POSITIONS TAKEN AND TO BE TAKEN ON ITS TAX RETURNS BASED ON AN ASSESSMENT OF MANY FACTORS INCLUDING EXPERIENCE AND INTERPRETATIONS OF TAX LAWS APPLIED TO THE FACTS OF EACH MATTER. THE CREDIT UNION HAS CONCLUDED THAT THERE ARE NO SIGNIFICANT UNCERTAIN TAX POSITIONS REQUIRING DISCLOSURE, AND THERE ARE NO MATERIAL AMOUNTS OF UNRECOGNIZED TAX BENEFITS REQUIRING RECOGNITION IN THE FINANCIAL STATEMENTS. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES, AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY ARISING FROM FEDERAL TAXATION OF ACTIVITIES DEEMED TO BE UNRELATED TO ITS EXEMPT PURPOSES AND ANY POTENTIAL ADDITIONAL LIABILITY RESULTING FROM THE TAXING AUTHORITIES IMPOSING TAXES, PENALTIES, AND INTEREST ON THE TAXES DUE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. WITH FEW EXCEPTIONS, CURRENTLY THE 2020, 2019, AND 2018 FEDERAL TAX RETURNS ARE OPEN FOR EXAMINATION BY THE IRS. PART XI, LINE 2D - OTHER ADJUSTMENTS: GIS EXPENSES INCLUED IN REVENUE -9,233. PART XII, LINE 4B - OTHER ADJUSTMENTS: GIS EXPENSES INCLUDED IN REVENUE 9,233. 1 AUTAUGA COUNTY COMMISSION 135 N COURT STREET SUITE B PRATTVILLE AL 36067 636001399 501(C)(3) 30000 0 SUPPORT FOR AUTAUGA COUNTY PARKS AND RECREATION FAULKNER UNIVERSITY 5345 ATLANTA HIGHWAY MONTGOMERY AL 36109 630329409 501(C)(3) 25000 0 SUPPORT FAULKNER UNIVERSITY ALABAMA STATE UNIVERSITY FOUNDATION INC PO BOX 271 MONTGOMERY AL 36104 636067745 501(C)(3) 50000 0 SUPPORT ALABAMA STATE UNIVERSITY FOUNDATION TROY UNIVERSITY FOUNDATION 5000 VETERANS STADIUM DRIVE TROY AL 36082 636067755 501(C)(3) 165000 0 SUPPORT TROY UNIVERSITY FOUNDATION 6 COLLEGE SCHOLARSHIPS 10 25000 PART I, LINE 2: UPON DETERMINING A SCHOLARSHIP RECIPIENT, THE CREDIT UNION WILL MAIL A CHECK DIRECTLY TO THE RECIPIENT'S COLLEGE OR UNIVERSITY. X X X X X 0 1 0 HEATH HARRELL CEO 429783 0 54000 0 75000 0 39096 0 34605 0 632484 0 0 0 NIKITA MCCLAIN CCO 206324 0 21592 0 50000 0 41786 0 34369 0 354071 0 0 0 BECKY LEE CFO 171615 0 18324 0 50000 0 27208 0 34304 0 301451 0 0 0 JOSEPH ROBISON VP LENDING 162167 0 13242 0 0 0 24062 0 34817 0 234288 0 0 0 SCOTT ROSEN VP INFORMATION TECHNOLOGY 156184 0 12515 0 0 0 23391 0 34349 0 226439 0 0 0 DANIEL POST VP FINANCE 149164 0 10718 0 0 0 20052 0 34790 0 214724 0 0 0 J LINDSEY MCDONALD VP HUMAN RESOURCES 139869 0 11000 0 0 0 15087 0 34779 0 200735 0 0 0 LINDSEY WALTERS VP BRANCHES 132915 0 10600 0 0 0 10520 0 34436 0 188471 0 0 0 PART I, LINE 4B IN 2016, THE CREDIT UNION ENTERED INTO A SECURED SPLIT-DOLLAR LIFE INSURANCE ARRANGEMENT WITH HEATH HARRELL, CEO. THE PREMIUM ON THE POLICY WAS FUNDED BY THE CREDIT UNION THROUGH A LOAN TO THE CEO. THE LOAN WAS REFINANCED IN 2021. INTEREST ACCRUES TO THE LOAN MONTHLY. IN 2021, THE CREDIT UNION ENTERED INTO A SECURED SPLIT-DOLLAR LIFE INSURANCE ARRANGEMENT WITH HEATH HARRELL, CEO. THE PREMIUMS ON THE POLICIES WERE FUNDED BY THE CREDIT UNION THROUGH A LOAN TO THE CEO. INTEREST ACCRUES TO THE LOAN MONTHLY. THE CREDIT UNION HAS SUPPLEMENTAL NON-QUALIFIED DEFERRED COMPENSATION ARRANGEMENTS WITH HEATH HARRELL, BECKY LEE, NIKITA MCCLAIN, DAN POST, JOSEPH ROBISON, AND SCOTT ROSEN. THE PLANS ARE DESIGNED TO PROVIDE POST-RETIREMENT BENEFITS TO THE COVERED EMPLOYEES. HEATH HARRELL CEO TO PAY THE PREMIUMS OF COLLATERAL ASSIGNMENT SPLIT-DOLLAR LIFE INSURANCE X 783872 771067 0 1 1 HEATH HARRELL CEO TO PAY THE PREMIUMS OF COLLATERAL ASSIGNMENT SPLIT-DOLLAR LIFE INSURANCE X 9241119 9241119 0 1 1 10012186 FORM 990, PART VI, SECTION A, LINE 6 GUARDIAN CREDIT UNION IS A NON-PROFIT FINANCIAL INSTITUTION THAT IS OWNED AND OPERATED BY ITS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF GUARDIAN CREDIT UNION ELECT ITS BOARD OF DIRECTORS AT THE ANNUAL MEMBERSHIP MEETING. THE BOARD OF DIRECTORS IS MADE UP OF SEVEN BOARD MEMBERS AND THE TERM FOR EACH BOARD MEMBER IS THREE YEARS. THE NOMINATING COMMITTEE WILL NOMINATE MEMBERS FOR OPEN BOARD POSITIONS OR MEMBERS MAY PLACE A NAME ON THEIR VOTING BALLOT BY PETITION. FORM 990, PART VI, SECTION A, LINE 7B THE FOLLOWING TYPES OF DECISIONS ARE SUBJECT TO THE APPROVAL BY THE CREDIT UNION'S MEMBERS: DISSOLUTION OF THE CREDIT UNION, ELECTION AND TERMINATION OF BOARD OR COMMITTEE MEMBERS, EXPULSION OF CREDIT UNION MEMBERS, AND CONVERSION FROM STATE TO FEDERAL CHARTER. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY THE VP OF FINANCE AND CFO PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 15 THE PERSONNEL COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS THE CEO'S SALARY ON AN ANNUAL BASIS. THE COMMITTEE REVIEWS THE PERFORMANCE OF THE CEO WHILE TAKING INTO ACCOUNT THE OVERALL PERFORMANCE OF THE CREDIT UNION. ADDITIONALLY, THE COMMITTEE USES "CUES" COMPENSATION SURVEYS IN CONJUNCTION WITH BALANCED COMP DATA, WHICH PROVIDES INDEPENDENT COMPARABLE SALARY DATA FOR THE DELIBERATION AND DECISION MAKING PROCESS. THE BOARD OF DIRECTORS APPROVES THE CEO'S SALARY. COMPENSATION FOR OTHER OFFICERS, KEY EMPLOYEES, AND MANAGEMENT IS DETERMINED ON A YEARLY BASIS BY THE CEO. THE CEO USES SIMILAR SALARY SURVEY DATA WHILE TAKING INTO CONSIDERATION THE TYPE OF WORK PERFORMED, SUPERVISOR PERFORMANCE EVALUATIONS, AND THE OVERALL PERFORMANCE OF THE CREDIT UNION. FORM 990, PART VI, SECTION C, LINE 19 THE 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 XI, LINE 9: ACTUARIAL UNREALIZED LOSS ON DEFINED BENEFIT PENSION PLAN 336,580. MERGED EQUITY 240,604. FORM 990, PART XII, FINANCIAL STATEMENTS AND REPORTING THE CREDIT UNION HAS A SUPERVISORY COMMITTEE WHO IS RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT ACCOUNTANTS. G ADVERTISING LLC 1789 CONG WL DICKINSON DRIVE MONTGOMERY AL 36109 473988987 ADVERTISING AGENCY SERVICES AL 0 0 GUARDIAN CREDIT UNION GUARDIAN INSURANCE SERVICES 418 MADISON AVE MONTGOMERY AL 36104 833524224 PROVIDE INSURANCE SERVICES TO MEMBERS AL 142280 172934 GUARDIAN CREDIT UNION