2018-01-31T11:49:42-06:00 2016-12-31 580692043 Mauldin & Jenkins LLC 200 Galleria Pkwy SE Ste 1700 Atlanta GA 303395946 990 2016-01-01 580240950 Associated Credit Union ASSO 7704488200 6251 Crooked Creek Road Norcross GA 300923107 Tim Bridges EVP/CFO 7704488200 2018-01-15 1 Mary Jo Alexander P00002534 7709558600 2018-01-15 50.192.51.169 2018-01-15 15:19:30 ES P 22709AFA47563364B621B0C461921DEB0EE6EC74 BD143EC9D21F432AA979F0B2BF5AE5E2A9708BCC 2016 2021-01-29 14:40:06Z C Lin Hodges 6251 Crooked Creek Road Norcross GA 300923107 63625231 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. 13 12 386 16 633411 -115434 0 0 56725136 59743616 4330252 3881615 0 0 61055388 63625231 0 0 0 0 22300195 23075723 0 0 0 30443820 31704592 52744015 54780315 8311373 8844916 1381767098 1466015582 1216780108 1291763532 164986990 174252050 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 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 1 31864 0 1 386 1 1 1 0 0 0 0 0 X 13 12 0 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 GA X Beth R Tynan 7703682117 6251 Crooked Creek Road Norcross GA 300923107 James C Barbre Director 1.00 1.00 X 8250 0 0 Mike Collins Director 1.00 1.00 X 9000 0 0 Chuck Gehrmann Director 1.00 1.00 X 7500 0 0 Harvey Campbell Director 1.00 1.00 X 1500 0 0 Keith Gettmann Director 1.00 1.00 X 9000 0 0 Tim F Kercheval Director 1.00 1.00 X 7500 0 0 Margaret Pittman Director 1.00 1.00 X 8250 0 0 Doyle Spears Director 1.00 1.00 X 8250 0 0 John Petros Director 1.00 1.00 X 7500 0 0 Ron Ford Director 1.00 1.00 X 9000 0 0 Exceptional Harden Director 1.00 1.00 X 7500 0 0 Allen Bryan Director 1.00 1.00 X 9000 0 0 George Clarke Director 1.00 1.00 X 8250 0 0 Lin Hodges President/CEO 40.00 X X 695410 0 27146 Greg Connor Executive VP 40.00 X 377266 0 67270 Tim Bridges Executive VP/CFO 40.00 X 305147 0 20518 Mark Waller EVP/COO 40.00 X 292623 0 30261 Karl Mann VP/CIO 40.00 X 220391 0 10639 Deborah Tuttle VP/Operations 40.00 X 709443 0 1052 William Baum VP/Loans 40.00 X 863050 0 24539 Pamela Mott VP/Training 40.00 X 153023 0 14296 Tom Maiellaro VP/Marketing 40.00 X 163793 0 43883 Jeffrey Bergum VP/Retail Services 40.00 X 162469 0 12179 Todd Chandler AVP/Information Technology 40.00 X 145376 0 15312 Chad Evans VP/Contact Center 40.00 X 141400 0 9818 4329891 0 276913 18 0 1 0 Digital Insight Corporation PO Box 515306 Los Angeles CA 90051 Home Banking Vendor 1716944 Jack Henry & Associates Inc 11395 Old Roswell Road Alpharetta GA 30009 Bank Automation Solutions 926930 Thompson O'Brien Kemp & Nasuti PC 40 Technology Parkway Norcross GA 30092 Legal Services 500370 AT&T PO Box 5019 Carol Stream IL 30197 Communication Services 437604 iHeartMedia PO Box 406372 Atlanta GA 30384 Marketing and the media 306148 24 Interest on Loans 522100 32696512 32696512 Fee Income 522100 16789253 16155842 633411 Other Operating Income 522100 9221718 9221718 Gain on Sale of Mtge Loans 522100 1036133 1036133 59743616 3862699 3862699 18916 0 18916 18916 18916 63625231 59110205 633411 3881615 2301059 15574289 798123 3181209 1221043 132130 97800 1988684 1651498 4480697 302818 1211957 285734 327728 4321217 1398605 287211 Loan Servicing Expense 5374187 Provision for Loan Loss 5015000 ATM Expenses 2947489 ATM,Credit Cd, etc Loss 953048 928789 54780315 10768590 10203598 77710375 132721185 2850000 3763000 907167175 989293249 25395443 13559237 12090685 11836206 330652908 237827357 4415500 8625974 36111865 71745013 1381767098 1466015582 14848914 17915380 1201931194 1273848152 1216780108 1291763532 X 0 0 0 0 164986990 174252050 164986990 174252050 1381767098 1466015582 8844916 420144 0 X X 0 1 X 1 0 3208981 3208981 13018412 6898724 6119688 769683 190885 578798 8398367 6469628 1928739 11836206 Available for Sale Securities 230570873 F Other Investments 7256484 F 237827357 Member Shares and Deposits 1273848152 1273848152 X 63625231 0 63625231 0 63625231 54837655 57340 57340 54780315 0 54780315 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. As of and for the years ended December 31, 2016 and 2015, Management has determined there are no material uncertain tax positions. However, the Credit Union is subject to unrelated business income tax. Part XII, Line 2d - Other Adjustments: Change in Entrance Fees 57,340. X X X 1 1 X X X X 0 1 0 Lin Hodges President/CEO 555410 0 140000 0 0 0 18550 0 8596 0 722556 0 0 0 Greg Connor Executive VP 314266 0 63000 0 0 0 64150 0 3120 0 444536 0 0 0 Tim Bridges Executive VP/CFO 255147 0 50000 0 0 0 16358 0 4160 0 325665 0 0 0 Mark Waller EVP/COO 227623 0 65000 0 0 0 14619 0 15642 0 322884 0 0 0 Karl Mann VP/CIO 192360 0 28031 0 0 0 3519 0 7120 0 231030 0 0 0 Deborah Tuttle VP/Operations 31122 0 0 0 678321 0 837 0 215 0 710495 0 405997 0 William Baum VP/Loans 92152 0 5022 0 765876 0 24125 0 414 0 887589 0 482542 0 Pamela Mott VP/Training 138800 0 14223 0 0 0 9716 0 4580 0 167319 0 0 0 Tom Maiellaro VP/Marketing 142758 0 21035 0 0 0 31543 0 12340 0 207676 0 0 0 Jeffrey Bergum VP/Retail Services 141584 0 20885 0 0 0 9235 0 2944 0 174648 0 0 0 Todd Chandler AVP/Information Technology 127813 0 17563 0 0 0 9592 0 5720 0 160688 0 0 0 Chad Evans VP/Contact Center 124748 0 16652 0 0 0 8088 0 1730 0 151218 0 0 0 Part I, Line 4b The Credit Union maintains non-qualified pension plans for a select group of Management. The terms of the plan require the participants to remain employed by the Credit Union until an agreed upon retirement date. The plan constitutes an unsecured promise by the Credit Union to pay benefits in the future to the participant and the participant shall have status of a general unsecured creditor of the Credit Union. 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. Any interest earned by, or return on such investments shall be credited to the participant's plan account at least annually. The plan benefits shall be paid as a lump sum as soon as administratively practicable following the earlier of the participant's normal retirement date, the participant's involuntary termination of employment without cause, or the termination of the plan pursuant to the appointed committee's discretion. Participants are eligible based on approval by the Credit Union's Board of Directors. Under this plan, participants are given access to employer funds to be invested in certain investment vehicles. The participant's benefit is the earnings of those investments above the initial investment balance. The asset and liability related to this plan approximated $2,723,000 and $3,744,000 as of December 31, 2016 and 2015, respectively. The following individuals, reported on Form 990 Part VII, had contributions made on their behalf into the Sec 457f plan by the Credit Union: Greg Connor $45,600 William Baum 19,000 Thomas Maiellaro 21,600 Jim LaFond 26,400 Beth Tynan 9,600 The Credit Union has split-dollar life insurance plans for a select group of Management. The Credit Union has secured interest in these plans to the extent of premiums advanced on the behalf of these key employees. The vested interest in these split-dollar plans totaled approximately $4,969,000 and $4,195,000 as of December 31, 2016 and 2015, respectively. Of the individuals listed on Sch J the following participated in this plan: C. Lin Hodges Tim Bridges Mark Waller Karl Mann Jeffrey Bergum C Lin Hodges President CEO Split Dollar Life Insurance X 1125000 1575000 0 1 1 Tim Bridges Executive VP/CFO Split Dollar Life Insurance X 500000 700000 0 1 1 Mark Waller EVP/COO Split Dollar Life Insurance X 500000 600000 0 1 1 Karl Mann VP/Information Technology Split Dollar Life Insurance X 400000 480000 0 1 1 Jeffrey Bergum VP/Retail Services Split Dollar Life Insurance X 68000 408000 0 1 1 3763000 Form 990, Part VI, Section A, line 6 Associated Credit Union is a state-chartered credit union with 159,962 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 branches for review. 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 Associated Credit Union Foundation B 98806 Actual