2025-10-06T14:32:18-05:00 2024-12-31 580692043 MAULDIN & JENKINS LLC 200 GALLERIA PKWY SE STE 1700 ATLANTA GA 303395946 990 2024-01-01 580905515 THE SOUTHERN CREDIT UNION SOUT 7704603267 PO BOX 1509 FAYETTEVILLE GA 30214 KRIS TRAINOR CFO 7704603267 2025-10-01 1 1 MARY JO ALEXANDER P00002534 7709558600 2025-10-01 2024 2025-03-06 01:10:19Z X RAY HULL PO BOX 1509 FAYETTEVILLE GA 30214 24902758 0 X WWW.SOUTHERNONLINE.ORG X STATE-CHARTERED CREDIT UNION 1963 GA AS A STATE-CHARTERED CREDIT UNION, WE PROVIDE THRIFT SAVINGS, LOANS AND OTHER FINANCIAL SERVICES TO OUR MEMBERS. 7 6 92 7 50415 0 2009372 205000 16054271 17544424 6506288 7053405 101673 99929 24671604 24902758 24070 17710 0 0 8702918 9385708 0 0 0 10443811 11761327 19170799 21164745 5500805 3738013 527450922 533936060 490058044 488993999 37392878 44942061 OUR MISSION IS TO ENHANCE THE LIVES OF THE MEMBERS WE SERVE BY HELPING MAKE THEIR FINANCIAL GOALS A REALITY. 0 0 PROVIDE THRIFT SAVINGS, LOANS, AND OTHER FINANCIAL SERVICES TO 31,176 MEMBERS, AS A STATE-CHARTERED CREDIT UNION. 0 1 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 6564 0 1 92 1 1 1 0 0 0 0 0 0 0 X 7 6 0 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 GA X KRIS TRAINOR 7704603267 PO BOX 1509 FAYETTEVILLE GA 30214 RAY HULL CEO/TREASURER 40.00 X X 1055275 0 220504 MORRIS KELLY CHAIRMAN 2.00 X X 17400 0 2471 WILTON MARCHMAN VICE CHAIR 2.00 X X 17400 0 2471 JOHN RICK HALBERT SECRETARY 1.50 X X 17400 0 2471 ROBERT MATTHEWS DIRECTOR 1.50 X 17400 0 894 RANDY HOBBS DIRECTOR 1.50 X 17400 0 2471 MICHAEL FORAN DIRECTOR 1.50 X 17400 0 2471 JIM PHILLIPS EVP 40.00 X 482305 0 260248 KRIS TRAINOR CFO 40.00 X 362352 0 73023 JAMES RICHARDS VP OF MORTGAGES 40.00 X 258226 0 61351 JOHN PURDY CHIEF LENDING OFFICER 40.00 X 218767 0 22059 TIM PLESS CHIEF TECHNOLOGY OFFICER 40.00 X 210772 0 31256 BARRY GRIFFIN VP BRANCH SERVICES 40.00 X 194412 0 45103 KEITH SALTZMAN SENIOR DATA ANALYST 40.00 X 176251 0 28343 SHANNON MESEROLE VP RISK MANAGEMENT 40.00 X 152860 0 15236 STEVEN RICHARDSON HR DIRECTOR 40.00 X 127408 0 22533 CHRIS RECHTORIS VP SR REGIONAL MKT MGR 40.00 X 115900 0 18121 KAREN NIX DATA ANALYST 40.00 X 118125 0 0 JARED THOMPSON VP SR REGIONAL MKT MGR 40.00 X 111479 0 21560 3688532 0 832586 14 0 1 0 FISERV 255 FISERV DRIVE BROOKFIELD WI 53045 CARD AND CORE PROCESSING 1537115 DIGITAL INSIGHT PO BOX 740641 LOS ANGELES CA 900740641 HOMEBANKING 778594 GLORY GLOBAL SOLUTIONS (USA) INC 705 S 12TH STREET WATERTOWN WI 53094 EQUIPMENT MAINTENANCE 412911 VERINEXT CORP 510 TOWNSHIP LINE ROAD STE 120 BLUE BELL PA 19422 BACKUP EQUIPMENT/MAINTENANCE 325166 BITDIAMOND COMMUNICATIONS SOLUTIONS 710 SW 34TH STREET RENTON WA 98057 STATEMENT PROCESSOR 219976 9 205000 205000 INTEREST ON LOANS 522100 12028370 12028370 FEES & OTHER OPERATING INCOME 522100 5516054 5465639 50415 17544424 7031905 7031905 99929 99929 21500 0 21500 21500 21500 24902758 17494009 50415 7153334 9210 8500 3623135 4542743 138483 631561 449786 39344 175869 25370 744139 357148 1766589 21916 807410 250680 44277 2234 871549 159470 DIVDS AND INTEREST 3566468 LOAN SERVICING 1761885 INTERNET BANKING EXPENS 778694 PROVISION FOR LOAN LOSS 388285 21164745 17927413 34290197 42321333 43316589 9257882 9466962 223258365 216717805 31267040 12544920 15821764 18722120 199380503 191635553 987886 901886 18495776 18884948 527450922 533936060 8298324 7210679 481759720 481783320 490058044 488993999 X 0 0 0 0 37392878 44942061 37392878 44942061 527450922 533936060 3738013 3811170 0 X 0 1 X 0 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4279334 4279334 16491414 6070774 10420640 430672 417414 13258 7183558 6056732 1126826 2882062 2882062 18722120 SHARES AND DEPOSITS 481783320 481783320 X 28713928 3811170 3811170 24902758 0 24902758 21164745 0 21164745 0 21164745 PART X, LINE 2: THE CREDIT UNION IS EXEMPT BY STATUTE FROM FEDERAL AND STATE INCOME TAXES. THE FEDERAL RETURNS OF ORGANIZATIONS EXEMPT FROM INCOME TAX OF THE CREDIT UNION FOR 2022, 2023, AND 2024 ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER BEING FILED. THERE ARE NO UNCERTAIN TAX LIABILITIES REPORTED UNDER FIN 48(ASC 740-10). 1 EDUCATIONAL ASSISTANCE 5 8500 PART I, LINE 2: EDUCATIONAL GRANTS ARE AWARDED TO STUDENTS WHO RESIDE IN GEORGIA COUNTIES WHERE THE SOUTHERN CREDIT UNION CONDUCTS BUSINESS. MONIES ARE PAID DIRECTLY TO THE EDUCATIONAL INSTITUTION THEY ATTEND FOR THE BENEFIT OF THE SELECTED STUDENT. X 1 1 X X X 0 1 0 RAY HULL CEO/TREASURER 513044 0 0 0 542231 0 203662 0 16842 0 1275779 0 500000 0 JIM PHILLIPS EVP 346132 0 100000 0 36173 0 241170 0 19078 0 742553 0 0 0 KRIS TRAINOR CFO 312352 0 50000 0 0 0 31500 0 41523 0 435375 0 0 0 JAMES RICHARDS VP OF MORTGAGES 229188 0 20000 0 9038 0 23500 0 37851 0 319577 0 0 0 TIM PLESS CHIEF TECHNOLOGY OFFICER 188272 0 22500 0 0 0 19250 0 12006 0 242028 0 0 0 JOHN PURDY CHIEF LENDING OFFICER 200792 0 17975 0 0 0 20298 0 1761 0 240826 0 0 0 BARRY GRIFFIN VP BRANCH SERVICES 176912 0 17500 0 0 0 19250 0 25853 0 239515 0 0 0 KEITH SALTZMAN SENIOR DATA ANALYST 159876 0 10125 0 6250 0 16450 0 11893 0 204594 0 0 0 SHANNON MESEROLE VP RISK MANAGEMENT 135360 0 17500 0 0 0 13750 0 1486 0 168096 0 0 0 PART I, LINE 1A BOARD SPOUSES ATTENDED ANNUAL PLANNING SESSION PART I, LINE 4B ACCRUED EXPENSES WERE MADE DURING 2024 TO THE 457F RETIREMENT PLAN, BY THE SOUTHERN CREDIT UNION ON BEHALF OF THE FOLLOWING EMPLOYEES: RAY HULL, PRESIDENT & CEO $142,147 JIM PHILLIPS, EVP $206,670 KRIS TRAINOR, CFO $31,500 JAMES RICHARDS, VP OF MORTGAGES $23,500 JOHN PURDY, CHEIF LENDING OFFICER $20,250 STEVEN RICHARDSON, HR DIRECTOR $10,750 BARRY GRIFFIN, VP BRANCH SERVICES $19,250 RAY HULL RECEIVED A $500,000 CASH DISTRIBUTION IN JANUARY 2024. THERE WERE NO OTHER 457(F) PAYOUTS IN 2024 FOR ANY OF THE OTHER EMPLOYEES LISTED ABOVE. RAY HULL PRESIDENT & CEO SPLIT-DOLLAR LIFE INSURANCE X 2000000 2747505 0 1 1 TRISHA SHERPY FORMER EVP SPLIT-DOLLAR LIFE INSURANCE X 3061018 4197087 0 1 1 JIM PHILLIPS EXECUTIVE VICE PRESIDENT SPLIT-DOLLAR LIFE INSURANCE X 1893295 2522370 0 1 1 9466962 FORM 990, PART VI, SECTION A, LINE 6 ALL QUALIFIED PERSONS WITH A PAR VALUE SHARE ACCOUNT ARE MEMBERS. DURING THIS REPORTING YEAR THERE WERE APPROXIMATELY 31,176 MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE BOARD OF DIRECTORS ARE ELECTED BY THE CREDIT UNION MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B RETURN WILL BE PRESENTED TO THE BOARD OF DIRECTORS BY THE CFO. FORM 990, PART VI, SECTION B, LINE 12C EMPLOYEES AND OFFICERS ARE PROVIDED A CONFLICT OF INTEREST POLICY THAT INSTRUCTS THEM ON WHO TO CONTACT WITH ANY POTENTIAL CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 TOP MANAGEMENT COMPENSATION PACKAGES ARE APPROVED BY THE BOARD OF DIRECTORS. KEY AND OTHER EMPLOYEES ARE SET BY MANAGEMENT. FORM 990, PART VI, SECTION C, LINE 19 FINANCIALS ARE DISPLAYED IN CREDIT UNION BRANCH LOCATIONS AND AT THE ANNUAL MEMBER MEETING WITH THE ANNUAL REPORT.