2019-11-08T16:30:25-06:00 2018-12-31 461498870 BARFIELD MURPHY SHANK & SMITH LLC 1121 RIVERCHASE OFFICE RD BIRMINGHAM AL 35244 990 2018-01-01 630207315 AVADIAN CREDIT UNION AVAD 2059852836 ONE RIVERCHASE PARKWAY SOUTH BIRMINGHAM AL 35244 LINDA CENCULA CEO 2059852836 2019-11-04 1 D SCOTT STEVENS CPA P00362431 2059825500 2019-11-04 74.254.230.2 2019-11-04 12:07:18 CS P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 EB162D2E73C23585D17068F620C7D40D794F103F 2018 2020-04-17 16:48:07Z LINDA CENCULA ONE RIVERCHASE PARKWAY SOUTH BIRMINGHAM AL 35244 45835888 0 X WWW.AVADIANCU.COM X 1934 AL TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS 10 10 278 10 50453 0 0 0 24259421 26207817 3164985 2870336 14706821 16415673 42131227 45493826 52988 24350 0 0 15604506 16183066 0 0 0 22543017 22187479 38200511 38394895 3930716 7098931 745748118 785422344 671282613 708367134 74465505 77055210 TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS. 0 0 81,466 MEMBERS SERVED TO PROMOTE THRIFT OPPORTUNITIES AND LOW COST LOANS 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 16642 0 1 278 1 1 1 0 0 0 0 0 0 0 X 10 10 0 0 1 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 0 0 X ADRIENNE BRECKENRIDGE 2059852836 ONE RIVERCHASE PARKWAY SOUTH HOOVER AL 35244 GARY CANNADY DIRECTOR 1.00 X 0 0 0 KEITH MILLING DIRECTOR 1.00 X 0 0 0 NANCY MORGAN DIRECTOR 1.00 X 0 0 0 DENNIS DEARING DIRECTOR 1.00 X 0 0 0 DEBORAH GIVEN DIRECTOR 1.00 X 0 0 0 ROLAND COBURN DIRECTOR 1.00 X 0 0 0 TERRY DAVIS TREASURER 1.00 X 0 0 0 CALVIN NELSON CHAIRMAN 1.00 X 0 0 0 LINDA RUETHEMANN SECRETARY 1.00 X 0 0 0 ANDREW AUSTIN DIRECTOR 1.00 X 0 0 0 ROBERT KIRKLAND VICE CHAIRMAN 1.00 X 0 0 0 CINDY KILLEN DIRECTOR 1.00 X 0 0 0 LINDA CENCULA CEO 48.00 X 386647 0 37330 WILLIAM R CHANCELLOR CHIEF LENDING OFFICER 48.00 X 181335 0 31137 ADRIENNE BRECKENRIDGE SR VP FINANCE & ACCOUNTING 48.00 X 141534 0 14363 STANTON DAVIS CHIEF EXPERIENCE & INNOVATION OFFICER 48.00 X 164107 0 33265 PARKER STEELE CHIEF LEGAL & COMPLIANCE OFFICER 48.00 X 164956 0 23947 ALPESH PATEL SR VP INFORMATION TECH. 48.00 X 143171 0 27877 KIM MURDOCH SR VP OPERATIONS 48.00 X 144577 0 30635 LAURIE SHOOK SR VP CONTROLLER 48.00 X 155194 0 35512 STEVEN THRASHER VP MORTGAGE LENDING 48.00 X 192537 0 22181 JAMES DISMUKES AFS PROGRAM MANAGER 48.00 X 230690 0 23732 RANDALL PHILLIPS VP COMMERCIAL CREDIT 48.00 X 144878 0 9979 CYNTHIA SHARP MORTGAGE LOAN OFFICER 48.00 X 114160 0 17234 SHANNON PORTER VP CONSUMER LENDING 48.00 X 111526 0 21672 2275312 0 328864 33 0 1 0 Y MEDIA WORKS 3756 DUNBARTON DRIVE BIRMINGHAM AL 35223 MEDIA ADVERTISING 894889 JACK HENRY & ASSOCIATES INC PO BOX 609 MONETT MO 65708 DATA PROCESSOR 475173 MERDIANLINK 1600 SUNFLOWER AVE STE 200 COSTS MESA CA 92626 TECHNOLOGY SOLUTION SERVICES 357524 LEWIS AMC DBA ARIVS 4100 BOB WALLACE AVE HUNTSVILLE AL 35805 APPRAISAL MANAGEMENT GROUP 210490 FITZMARTIN INC 2917 CENTRAL AVE STE 210 HOMEWOOD AL 35209 ADVERTISING CONSULTANTING 206696 15 LOAN INTEREST INCOME 522130 26207817 26207817 26207817 3172339 3172339 66776 66776 40059 342062 -302003 -302003 -302003 OTHER ACCOUNT FEES 522130 6396529 6396529 NSF AND CHECK FEES 522130 4421301 4421301 CREDIT CARD FEES 522130 3812734 3812734 1718333 1667880 50453 16348897 45493826 42506261 50453 2937112 24350 1715587 11572766 27835 1914688 952190 77096 171949 157027 1284859 2916661 2754652 1285139 283183 69505 4586771 1263645 266515 BAD DEBTS 2482523 CHECK AND LOAN SERVICIN 2055942 OTHER OPERATING EXPENSE 1620327 REPAIRS AND MAINTENANCE 258771 652914 38394895 17229757 8170171 36131181 44316942 499992210 568093747 2353202 2625547 46187111 13403968 33708260 32783143 137826547 114363661 395180 350000 4515921 4074850 13595860 10644283 745748118 785422344 1442544 1867887 669840069 706499247 671282613 708367134 X 0 0 0 0 74465505 77055210 74465505 77055210 745748118 785422344 X 7098931 -928596 -3580630 X X 0 1 X 1 0 3861179 8552929 12414108 21801183 4151764 17649419 450291 450291 0 11521529 8801913 2719616 32783143 ACCRUED BENEFITS 3735136 MEMBER DEPOSITS 702764111 706499247 X 45804404 0 45804404 -310578 -310578 45493826 38705473 310578 310578 38394895 0 38394895 PART X, LINE 2: THE CREDIT UNION IS EXEMPT BY STATUTE FROM FEDERAL INCOME TAXES EXCEPT FOR CERTAIN PRODUCTS AND SERVICES FOR WHICH THE NET TAXABLE INCOME IS SUBJECT TO INCOME TAXES UNDER THE UNRELATED BUSINESS INCOME TAX (UBIT) REGULATIONS. TAX POSITIONS INITIALLY NEED TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION BY THE TAX AUTHORITIES. AS OF DECEMBER 31, 2018 AND 2017, THE CREDIT UNION HAD NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS BASED ON AN ASSESSMENT OF MANY FACTORS INCLUDING EXPERIENCE AND INTERPRETATIONS OF TAX LAWS APPLIED TO THE FACTS OF EACH MATTER FOR ALL OPEN TAX YEARS. PART XI, LINE 4B - OTHER ADJUSTMENTS: OTHER LOSSES ON DISPOSED ASSETS NETTED WITH EXPENSES -310,578. PART XII, LINE 2D - OTHER ADJUSTMENTS: OTHER LOSSES ON DISPOSED ASSETS NETTED WITH EXPENSES 310,578. 1 UNITED WAY OF CENTRAL ALABAMA INC PO BOX 320189 BIRMINGHAM AL 35232 630288846 501(C)(3) 23750 GENERAL SUPPORT 1 PART I, LINE 2: THE CREDIT UNION ENSURES PROPER USE OF CONTRIBUTED FUNDS BY ONLY CONTRIBUTING TO QUALIFIED 501(C)(3) ORGANIZATIONS. X X X X 0 0 0 LINDA CENCULA CEO 352147 0 34500 0 0 0 26586 0 10744 0 423977 0 0 0 WILLIAM R CHANCELLOR CHIEF LENDING OFFICER 175179 0 6156 0 0 0 20396 0 10741 0 212472 0 0 0 ADRIENNE BRECKENRIDGE SR VP FINANCE & ACCOUNTING 137458 0 4076 0 0 0 6916 0 7447 0 155897 0 0 0 STANTON DAVIS CHIEF EXPERIENCE & INNOVATION OFFICE 158705 0 5402 0 0 0 22605 0 10660 0 197372 0 0 0 PARKER STEELE CHIEF LEGAL & COMPLIANCE OFFICER 159248 0 5708 0 0 0 9225 0 14722 0 188903 0 0 0 ALPESH PATEL SR VP INFORMATION TECH. 137939 0 5232 0 0 0 12102 0 15775 0 171048 0 0 0 KIM MURDOCH SR VP OPERATIONS 138822 0 5755 0 0 0 18400 0 12235 0 175212 0 0 0 LAURIE SHOOK SR VP CONTROLLER 149767 0 5427 0 0 0 22685 0 12827 0 190706 0 0 0 STEVEN THRASHER VP MORTGAGE LENDING 192537 0 0 0 0 0 10097 0 12084 0 214718 0 0 0 JAMES DISMUKES AFS PROGRAM MANAGER 94781 0 135909 0 0 0 9782 0 13950 0 254422 0 0 0 RANDALL PHILLIPS VP COMMERCIAL CREDIT 136234 0 8644 0 0 0 7581 0 2398 0 154857 0 0 0 FORM 990, PART VI, SECTION A, LINE 4 SIGNIFICANT BYLAW CHANGES THAT OCCURRED IN 2018 ARE AS FOLLOWS: ARTICLE XII, SECTION 1 WAS UPDATED TO REFLECT THAT BYLAWS OF THE CREDIT UNION ARE AMENDED BY THE AFFIRMATIVE VOTE OF TWO-THIRDS OF THE MEMBERS OF THE BOARD OF DIRECTORS INSTEAD OF BY THREE-FOURTHS' VOTE OF THE CREDIT UNION MEMBERS AT ANY MEETING CONSIDERING AN AMENDMENT. ARTICLE XII, SECTION 1 UPDATED TO REFLECT THE FOLLOWING: "AMENDMENTS OF THESE BYLAWS MAY BE ADOPTED BY THE AFFIRMATIVE VOTE OF TWO-THIRDS OF THE MEMBERS OF THE BOARD OF DIRECTORS AT ANY DULY HELD MEETING, PROVIDED THAT THE MEMBERS OF THE BOARD WERE GIVEN PRIOR WRITTEN NOTICE OF SAID MEETING AND THE NOTICE CONTAINED A COPY OF THE PROPOSED AMENDMENT OR AMENDMENTS. NO AMENDMENT OF THE BYLAWS SHALL BECOME EFFECTIVE, HOWEVER, UNTIL APPROVED IN WRITING BY THE ADMINISTRATOR OF THE ALABAMA CREDIT UNION ADMINISTRATION." AS A RESULT OF THE CHANGE TO ARTICLE XII, SECTION 1, ARTICLE V, SECTION 5F WAS ALSO UPDATED TO REFLECT THAT AMENDMENTS TO THE BYLAWS ARE RECOMMENDED AND APPROVED BY THE BOARD. FORM 990, PART VI, SECTION A, LINE 6 AVADIAN CREDIT UNION IS A NON-PROFIT FINANCIAL INSTITUTION THAT IS OWNED AND OPERATED BY ITS MEMBERS. IN ORDER TO BECOME A MEMBER OF THE CREDIT UNION, AN INDIVIDUAL CAN MEET ANY OF THE ELIGIBILITY REQUIREMENTS BELOW: -IF YOU LIVE, WORK, WORSHIP OR ATTEND SCHOOL IN THE FOLLOWING COUNTIES: AUTAUGA, BALDWIN, BLOUNT, CALHOUN, CHEROKEE, COFFEE, COLBERT, CULLMAN, DALLAS, DEKALB, ELMORE, ETOWAH, GENEVA, HOUSTON, JACKSON, JEFFERSON, LAUDERDALE, LAWRENCE, LEE, LIMESTONE, MADISON, MARION, MARSHALL, MOBILE, MONTGOMERY, MORGAN, PIKE, RANDOLPH, SHELBY, ST. CLAIR, TALLADEGA, TUSCALOOSA, WALKER, OR WINSTON. -IF YOU ARE AN EMPLOYEE OF AN AVADIAN SELECT EMPLOYEE GROUP. -IF YOU ARE RELATED BY BLOOD OR MARRIAGE TO MEMBERS OF AVADIAN CREDIT UNION. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE CREDIT UNION ELECT NEW BOARD MEMBERS AT THEIR ANNUAL MEETING. ANY OPEN POSITIONS ON THE BOARD ARE FILLED AT THIS TIME. IN ORDER FOR A BOARD MEMBER TO BE ELECTED A QUORUM MUST BE PRESENT AT THE MEETING. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS OF THE CREDIT UNION ELECT NEW BOARD MEMBERS AT THEIR ANNUAL MEETING. MEMBERS MAY ALSO VOTE TO REMOVE BOARD AND COMMITTEE MEMBERS. IF THE CREDIT UNION IS A TARGET OF A MERGER, THE AGREEMENTS TO MERGE ARE VOTED ON BY MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B UPON 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 12C THE CONFLICT OF INTEREST POLICY IS MONITORED THROUGH THE REQUIREMENTS OF THE PERSONNEL POLICY FOR EMPLOYEES. THIS POLICY REQUIRES THAT ANY CONFLICT OF INTEREST OR POTENTIAL CONFLICT OF INTEREST BE REPORTED IN WRITING TO THE PRESIDENT OF THE CREDIT UNION WHETHER THE CONFLICT ARISES FROM ACTIONS OF AN EMPLOYEE, DIRECTOR OR OFFICIAL OF THE CREDIT UNION OR FROM A FAMILY MEMBER OF ANY EMPLOYEE, DIRECTOR OR OFFICIAL OF THE CREDIT UNION. BOARD AND COMMITTEE MEMBERS MUST COMPLETE AN ANNUAL DISCLOSURE STATEMENT. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF DIRECTORS REVIEW THE CEO'S SALARY ON AN ANNUAL BASIS. THE BOARD REVIEWS THE PERFORMANCE OF THE CEO WHILE TAKING INTO ACCOUNT THE OVERALL PERFORMANCE OF THE CREDIT UNION. ADDITIONALLY, THE BOARD USES "CUES" COMPENSATION SURVEYS IN CONJUNCTION WITH COMPEASE DATA, WHICH PROVIDES INDEPENDENT COMPARABLE SALARY DATA FOR THE DELIBERATION AND DECISION MAKING PROCESS. COMPENSATION FOR OTHER OFFICERS, KEY EMPLOYEES & MANAGEMENT OFFICIALS 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: PENSION ADJUSTMENT -4,582,788. EBSCO CREDIT UNION MERGER ADJUSTMENT 1,002,158. PART XII, LINE 2C NO CHANGES HAVE OCCURRED IN THE PROCESS FROM THE PRIOR YEAR. SECTION 1.263(A)-1(F) DE MINIMIS SAFE HARBOR ELECTION AVADIAN CREDIT UNION ONE RIVERCHASE PARKWAY SOUTH BIRMINGHAM, AL 35244 EMPLOYER IDENTIFICATION NUMBER: 63-0207315 FOR THE YEAR ENDING DECEMBER 31, 2018 AVADIAN CREDIT UNION IS MAKING THE DE MINIMIS SAFE HARBOR ELECTION UNDER REG. SEC. 1.263(A)-1(F). SECTION 1.263(A)-3(N) ELECTION AVADIAN CREDIT UNION ONE RIVERCHASE PARKWAY SOUTH BIRMINGHAM, AL 35244 EMPLOYER IDENTIFICATION NUMBER: 63-0207315 FOR THE YEAR ENDING DECEMBER 31, 2018 AVADIAN CREDIT UNION IS MAKING THE ELECTION TO CAPITALIZE REPAIR AND MAINTENANCE COSTS UNDER REG. SEC. 1.263(A)-3(N).