2025-11-17T08:28:25-06:00 2024-12-31 580692043 MAULDIN & JENKINS LLC 200 GALLERIA PKWY SE STE 1700 ATLANTA GA 303395946 990 2024-01-01 580240950 ASSOCIATED CREDIT UNION ASSO 7704488200 6251 CROOKED CREEK ROAD NORCROSS GA 300923107 TIM G BRIDGES PRESIDENT 7704488200 2025-11-14 1 0 MARY JO ALEXANDER P00002534 7709558600 2025-11-14 2024 2025-03-06 01:10:19Z TIM G BRIDGES 6251 CROOKED CREEK ROAD NORCROSS GA 300923107 129974439 0 X WWW.ACUONLINE.ORG X CREDIT UNION 1930 GA STATE-CHARTERED CREDIT UNION THAT OFFERS MEMBERS FINANCIAL PRODUCTS THAT FULFILL THEIR NEEDS, SERVICES THAT EXCEED THEIR EXPECTATIONS, AND RELATIONSHIPS THAT INSPIRE THEIR TRUST. 14 13 476 0 505880 0 0 0 90640107 108955397 17966588 21019042 0 0 108606695 129974439 60000 63475 0 0 36347855 39174818 0 0 0 59265048 79710618 95672903 118948911 12933792 11025528 2168088119 2242878570 1926026425 1982249174 242061694 260629396 ASSOCIATED CREDIT UNION OFFERS MEMBERS FINANCIAL PRODUCTS THAT FULFILL THEIR NEEDS, SERVICE THAT EXCEEDS THEIR EXPECTATIONS, AND RELATIONSHIPS THAT INSPIRE THEIR TRUST. 0 0 ASSOCIATED CREDIT UNION IS A FULL-SERVICE FINANCIAL INSTITUTION OFFERING A WIDE VARIETY OF PRODUCTS AND SERVICES TO OVER 150,000 MEMBERS IN THE STATE OF GEORGIA. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 1 41958 0 1 476 1 1 1 0 0 0 0 0 1 0 X 14 13 0 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 GA X BETH TYNAN - AVPCONTROLLER 7703682117 6251 CROOKED CREEK ROAD NORCROSS GA 300923107 ALEX BARDI DIRECTOR 1.00 X 18000 0 0 KEITH TEAMER DIRECTOR 1.00 X 18000 0 0 JOHN A PETROS DIRECTOR 1.00 X 18000 0 0 ALLEN BRYAN DIRECTOR 1.00 X 16500 0 0 DOYLE SPEARS DIRECTOR 1.00 X 18000 0 0 KEITH GETTMANN DIRECTOR 1.00 X 18000 0 0 MARGARET L PITTMAN DIRECTOR 1.00 X 15000 0 0 CHARLES GEHRMANN DIRECTOR 1.00 X 18000 0 0 GEORGE M CLARKE DIRECTOR 1.00 X 18000 0 0 TIM F KERCHEVAL DIRECTOR 1.00 X 18000 0 0 JENNIFER H CHAPIN SECRETARY 1.00 X 18000 0 0 NANCY J GARNER VICE CHAIR 1.00 X 18000 0 0 EXCEPTIONAL HARDEN CHAIRMAN 1.00 X 18000 0 0 C LIN HODGES PRESIDENT/CEO 40.00 X X 1022059 0 51881 HEIWOTE TADESSE EXECUTIVE VP/MEMBER RELATIONS 40.00 X 393929 0 59831 CHAD EVANS EXECUTIVE VP/LENDING 40.00 X 440576 0 38751 MARK WALLER EXECUTIVE VP/COO 40.00 X 543168 0 54804 TIM BRIDGES EXECUTIVE VP/CFO 40.00 X 566614 0 71081 ERIC PATTERSON VP/INDIRECT LENDING 40.00 X 155369 0 32603 ANN GAVIN REGIONAL VP/AUGUSTA 40.00 X 160853 0 33504 ANNIA PEREIRA VP/LEARNING & DEVELOPMENT 40.00 X 195279 0 49212 MARGIE BURTON VP/CARD SERVICES 40.00 X 250338 0 53646 MICHAEL HUFF VP/RETAIL SERVICES 40.00 X 213141 0 28523 JIM LAFOND VP/RISK MANAGEMENT 40.00 X 233469 0 37973 THOMAS MAIELLARO VP MARKETING 40.00 X 261203 0 59560 KARL MANN VP/INFORMATION TECHNOLOGY 40.00 X 396026 0 35766 KAREN PENNINGTON AVP/HUMAN RESOURCES 40.00 X 158039 0 18636 KAREN MURRAY AVP/MEMBER EXPERIENCE 40.00 X 163436 0 26044 MOIZ KHAN AVP/ENTERPRISE & DATA ANALYTICS 40.00 X 189766 0 43513 BETH TYNAN AVP/CONTROLLER 40.00 X 232274 0 37943 TODD CHANDLER AVP/DIGITAL STRATEGY & ENTERPRISE SECURITY 40.00 X 223375 0 37481 6028414 0 770752 30 0 1 0 NCR CORPORATION 864 SPRING ST NW ATLANTA GA 30308 ONLINE BANKING PROVIDER 2177813 ENGAGE FI 5550 W EXECUTIVE DR 540 TAMPA FL 33609 TECHNOLOGY CONSULTANT 1969829 BASIS GLOBAL TECHNOLOGIES INC 11 E MADISON ST 6TH FLOOR CHICAGO IL 60602 MARKETING FIRM 1349070 JACK HENRY AND ASSOCIATES 11605 HAYNES BRIDGE RD SUITE 300 ALPHARETTA GA 30009 CORE DATA PROCESSING 1280529 SALESFORCE 415 MISSION STREET 3RD STREET SAN FRANCISCO CA 94105 CRM 824967 55 INTEREST ON LOANS 522100 82024639 82024639 FEE INCOME 522100 18235642 17729762 505880 OTHER OPERATING INCOME 522100 8695116 8695116 108955397 20865629 20865629 6030 147383 0 0 6030 147383 153413 153413 129974439 108449517 505880 21019042 63475 5668660 19848302 1449296 10134816 2073744 65175 156297 120847 2057532 5942667 6473543 1649709 1239269 4671 36476819 1892507 414424 PROVISION FOR LOAN LOSS 10342672 LOAN SERVICING EXPENSE 7700199 DEBIT CARD SERVICES EXP 3371288 OTHER OPERATING EXPENSE 700883 1102116 118948911 24980581 19091068 219659262 201522080 10733003 11192001 1491448734 1628839207 39332779 23841574 16227623 15491205 325050249 291418403 2032598 1417173 77956069 73907433 2168088119 2242878570 22029453 25636094 1903996972 1956613080 1926026425 1982249174 X 0 0 0 0 242061694 260629396 242061694 260629396 2168088119 2242878570 X 11025528 7502864 39310 X X 0 1 X 1 0 4456819 4456819 21448248 12205136 9243112 13427712 11636438 1791274 15491205 AVAILABLE FOR SALE SECURITIES 291418403 F 291418403 MEMBER SHARES AND DEPOSITS 1955573268 LEASE LIABILITY 1039812 1956613080 X 137477303 7502864 7502864 129974439 0 129974439 118948911 0 118948911 0 118948911 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. 0 ASSOCIATED CREDIT UNION FOUNDATION INC 6251 CROOKED CREEK ROAD NORCROSS GA 30092 262834337 501(C)(3) 63475 0 GENERAL SUPPORT AND OPERATIONS 1 0 X X X 1 1 X X 0 1 0 C LIN HODGES PRESIDENT/CEO 712540 0 198000 0 111519 0 27600 0 24281 0 1073940 0 0 0 TIM BRIDGES EXECUTIVE VP/CFO 395000 0 98750 0 72864 0 46800 0 24281 0 637695 0 0 0 MARK WALLER EXECUTIVE VP/COO 395000 0 98750 0 49418 0 46800 0 8004 0 597972 0 0 0 CHAD EVANS EXECUTIVE VP/LENDING 300000 0 82500 0 58076 0 38751 0 0 0 479327 0 0 0 HEIWOTE TADESSE EXECUTIVE VP/MEMBER RELATIONS 275000 0 70000 0 48929 0 49754 0 10077 0 453760 0 0 0 KARL MANN VP/INFORMATION TECHNOLOGY 290000 0 64198 0 41828 0 11485 0 24281 0 431792 0 0 0 THOMAS MAIELLARO VP MARKETING 197800 0 40617 0 22786 0 35081 0 24479 0 320763 0 0 0 MARGIE BURTON VP/CARD SERVICES 184000 0 40824 0 25514 0 29077 0 24569 0 303984 0 0 0 JIM LAFOND VP/RISK MANAGEMENT 173000 0 35398 0 25071 0 13692 0 24281 0 271442 0 0 0 BETH TYNAN AVP/CONTROLLER 178650 0 36816 0 16808 0 28350 0 9593 0 270217 0 0 0 TODD CHANDLER AVP/DIGITAL STRATEGY & ENTERPRISE SE 177350 0 33591 0 12434 0 13200 0 24281 0 260856 0 0 0 ANNIA PEREIRA VP/LEARNING & DEVELOPMENT 145000 0 32660 0 17619 0 24931 0 24281 0 244491 0 0 0 MICHAEL HUFF VP/RETAIL SERVICES 160000 0 34873 0 18268 0 28523 0 0 0 241664 0 0 0 MOIZ KHAN AVP/ENTERPRISE & DATA ANALYTICS 161000 0 28766 0 0 0 19232 0 24281 0 233279 0 0 0 ANN GAVIN REGIONAL VP/AUGUSTA 137500 0 20352 0 3001 0 9223 0 24281 0 194357 0 0 0 KAREN MURRAY AVP/MEMBER EXPERIENCE 143000 0 20436 0 0 0 16450 0 9594 0 189480 0 0 0 ERIC PATTERSON VP/INDIRECT LENDING 125000 0 24466 0 5903 0 22738 0 9865 0 187972 0 0 0 KAREN PENNINGTON AVP/HUMAN RESOURCES 111200 0 19496 0 27343 0 6990 0 11646 0 176675 0 0 0 PART I, LINE 4B THE CREDIT UNION MAINTAINS NON-QUALIFIED PENSION PLANS FOR A SELECT GROUP OF MANAGEMENT. PARTICIPANTS ARE ELIGIBLE BASED ON APPROVAL BY THE CREDIT UNION'S BOARD OF DIRECTORS. UNDER THIS PLAN, PARTICIPANTS DEFER A PORTION OF THEIR COMPENSATION. THE DEFERRED COMPENSATION ACCOUNTS ARE SHOWN AS BOTH ASSETS AND LIABILITIES ON THE CREDIT UNION'S FINANCIAL STATEMENTS AND ARE AVAILABLE TO CREDITORS IN THE EVENT OF THE CREDIT UNION'S LIQUIDATION. THE BALANCE OF THE PLAN APPROXIMATED $3,456,699 AND $2,983,392 AS OF DECEMBER 31, 2024 AND 2023, RESPECTIVELY. THE FOLLOWING INDIVIDUALS, REPORTED ON FORM 990 PART VII, HAD CONTRIBUTIONS WITHHELD FROM THEIR COMPENSATION MADE ON THEIR BEHALF INTO THE SEC 457F PLAN BY THE CREDIT UNION: TIM BRIDGES $19,200 MARK WALLER $19,200 CHAD EVANS $15,600 HEIWOTE TADESSE $27,600 THOMAS MAIELLARO $19,200 MICHAEL HUFF $15,600 MARGIE BURTON $16,800 ANNIA PEREIRA $13,200 ERIC PATTERSON $13,200 TODD CHANDLER $13,200 BETH TYNAN $14,400 MOIZ KHAN $9,600 KAREN MURRAY $9,600 THE CREDIT UNION PROVIDES CERTAIN INDIVIDUALS WITH A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (PLAN). THE PLAN IS BEING FUNDED VIA LIFE INSURANCE POLICIES AND SPLIT DOLLAR LOAN AGREEMENTS HAVE BEEN ENTERED INTO WITH THE PARTICIPANTS OF THE EXECUTIVES COVERED UNDER THE PLAN. AS PART OF THE SPLIT DOLLAR LOAN AGREEMENTS, THE EXECUTIVES HAVE ASSIGNED THE POLICIES TO THE CREDIT UNION AS COLLATERAL. THIS ASSIGNMENT SECURES REPAYMENT OF ANY ADVANCES AND ACCRUED INTEREST FOR THE POLICY PREMIUMS AND ANY OTHER ADVANCES UNDER ANY AGREEMENT. THE LOANS HAVE A FIXED INTEREST RATE, WITH INTEREST ACCRUED MONTHLY AND CAPITALIZED AS PART OF THE TOTAL LOAN BALANCE ANNUALLY. TOTAL SPLIT DOLLAR LOANS AND ACCRUED INTEREST APPROXIMATED $11,192,001 AND $10,733,000 AS OF DECEMBER 31, 2024 AND 2023, RESPECTIVELY. OF THE INDIVIDUALS LISTED ON SCH J THE FOLLOWING PARTICIPATED IN THIS PLAN: C. LIN HODGES TIM BRIDGES MARK WALLER KARL MANN THOMAS C MAIELLARO CHADWICK J EVANS JEFFREY S BERGUM TODD W CHANDLER BETH R TYNAN ERIC PATTERSON ANN GAVIN KAREN PENNINGTON MICHAEL HUFF MARGIE BURTON ANNIA PEREIRA LEAH ELDRIDGE C LIN HODGES PRESIDENT/CEO SPLIT DOLLAR LIFE INSURANCE X 1125000 2250001 0 1 1 TIMOTHY G BRIDGES EVP/CFO SPLIT DOLLAR LIFE INSURANCE X 500000 1000000 0 1 1 MARK D WALLER EVP/COO SPLIT DOLLAR LIFE INSURANCE X 600000 1000000 0 1 1 LEAH ELDRIDGE RETIRED SPLIT DOLLAR LIFE INSURANCE X 800000 800000 0 1 1 KARL R MANN VP/INFORMATION TECHNOLOGY SPLIT DOLLAR LIFE INSURANCE X 480000 800000 0 1 1 JEFFERY S BERGUM VP, RETAIL SERVICE SPLIT DOLLAR LIFE INSURANCE X 408000 680000 0 1 1 KAREN F PENNINGTON RETIRED SPLIT DOLLAR LIFE INSURANCE X 549000 610000 0 1 1 CHADWICK J EVANS EVP, LENDING SPLIT DOLLAR LIFE INSURANCE X 360000 600000 0 1 1 THOMAS C MAIELLARO VP, MARKETING SPLIT DOLLAR LIFE INSURANCE X 70000 560000 0 1 1 MARGARITA L BURTON VP, CARD SERVICES SPLIT DOLLAR LIFE INSURANCE X 180000 480000 0 1 1 BETH R TYNAN AVP/CONTROLLER SPLIT DOLLAR LIFE INSURANCE X 58000 464000 0 1 1 TODD W CHANDLER AVP DIGITAL STRATEGY SPLIT DOLLAR LIFE INSURANCE X 56000 448000 0 1 1 MICHAEL J HUFF VP RETAIL SERVICES SPLIT DOLLAR LIFE INSURANCE X 162000 432000 0 1 1 ANNIA PEREIRA VP LEARNING AND DEV SPLIT DOLLAR LIFE INSURANCE X 162000 432000 0 1 1 ERIC PATTERSON AVP, INDIRECT LENDING SPLIT DOLLAR LIFE INSURANCE X 156000 416000 0 1 1 ANN GAVIN AVP, AUGUSTA LENDING SPLIT DOLLAR LIFE INSURANCE X 55000 220000 0 1 1 11192001 FORM 990, PART VI, SECTION A, LINE 6 ASSOCIATED CREDIT UNION IS A STATE-CHARTERED CREDIT UNION WITH 156,233 VOTING MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A ASSOCIATED CREDIT UNION HAS MEMBERS WHO ELECT ONE OR MORE MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD WILL RECEIVE A PDF OF FORM 990. THIS WILL GIVE THEM TIME TO REVIEW AND COMMENT ON THE RETURN. RECOMMENDED CHANGES WILL BE INCORPORATED INTO THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS DIRECTORS AND KEY EMPLOYEES ARE REQUIRED TO SIGN AN OATH AND FILL OUT AN APPLICATION FOR THE GEORGIA DEPARTMENT OF BANKING DECLARING NO CONFLICT OF INTEREST WITH ASSOCIATED CREDIT UNION. ALSO, THROUGH EXTERNAL THIRD PARTY AUDITS AND EXAMINATIONS BY THE DEPARTMENT OF BANKING AND FINANCE OF GEORGIA AND THE NATIONAL CREDIT UNION ADMINISTRATION. FORM 990, PART VI, SECTION B, LINE 15 THE CHAIRMAN OF THE BOARD OR THE PERSONNEL CHAIRMAN APPROVE THE PRESIDENT/CEO COMPENSATION AND BENEFITS. THE CEO APPROVES TOP MANAGEMENT COMPENSATION. DATA IS USED FROM CUES EXECUTIVE REVIEW AND CUNA. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S ANNUAL TAX RETURNS ARE AVAILABLE UPON REQUEST. FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY OF THE MAIN OFFICE AND IN BRANCHES FOR PUBLIC REVIEW. FORM 990, PART XI, LINE 9: NET CHANGE IN THE RESERVE FOR ENTRANCE FEES 39,310. FORM 990 PART XII, LINE 2C THE PROCESS FOR SELECTION OF AUDITORS AND REVIEW OF FINANCIAL STATEMENTS HAS NOT CHANGED FROM THE PRIOR YEAR. THE ASSOCIATED CREDIT UNION FOUNDATION INC 6251 CROOKED CREEK ROAD NORCROSS GA 30092 262834337 CHARITABLE GIVING GA 501(C)(3) LINE 7 ASSOCIATED CREDIT UNION INC 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 THE ASSOCIATED CREDIT UNION FOUNDATION INC B 63475 ACTUAL