2015-04-30T13:00:36-05:00 2014-12-31 461498870 BARFIELD MURPHY SHANK & SMITH LLC 1121 RIVERCHASE OFFICE RD BIRMINGHAM AL 35244 990 2014-01-01 630421601 VALLEY CREDIT UNION VALL 2563814800 PO BOX 388 TUSCUMBIA AL 35674 HILLARD SPARKS CEO 2563814800 2015-05-15 1 CYNTHIA A HUDSON CPA P00029332 2059825500 2015-05-15 2014 2016-04-25 22:37:26Z HILLARD SPARKS PO BOX 388 TUSCUMBIA AL 35674 2978026 0 X HTTP://WWW.VALLEYCREDITUNION.NET/ X 1956 AL TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS 9 8 40 12 24825 -2715 0 0 2026796 1938241 245314 273718 655870 738323 2927980 2950282 0 0 0 0 999537 1114522 0 0 0 1428392 1465210 2427929 2579732 500051 370550 63233261 65155338 52517706 54059596 10715555 11095742 TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS 0 0 6,633 MEMBERS SERVED TO PROMOTE THRIFT OPPORTUNITIES AND LOW COST LOANS 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1643 0 1 40 1 1 1 0 0 0 0 0 X 9 8 0 0 0 0 1 1 0 1 0 0 1 1 1 1 1 1 1 1 1 1 0 X HILLARD SPARKS 2563814800 200 E 6TH STREET TUSCUMBIA AL 35674 HILLARD SPARKS CEO, SEC/TREASURER 40.00 X X 150151 0 30714 DR JOHN LANDERS VICE CHAIRPERSON 1.00 X 0 0 0 ROYCE MASSEY DIRECTOR 1.00 X 0 0 0 LIONEL DOUG ISBELL DIRECTOR 1.00 X 0 0 0 DR ROBERT CLEMMONS DIRECTOR 1.00 X 0 0 0 MRS MARTHA BOWLES DIRECTOR 1.00 X 0 0 0 OTIS JOHNSON CHAIRPERSON 1.00 X 0 0 0 DOUGLAS WORLEY DIRECTOR 1.00 X 0 0 0 DR RICHARD GARDNER DIRECTOR 1.00 X 0 0 0 150151 0 30714 1 0 1 0 EPL INC 22 INVERNESS CENTER PARKWAY BIRMINGHAM AL 35242 DATA PROCESSING 237044 FIS 601 RIVERSIDE AVENUE JACKSONVILLE FL 32204 DEBIT CARD PROCESSING 100734 2 LOAN INTEREST INCOME 522130 1938241 1938241 1938241 275962 275962 7407 7407 25500 27744 -2244 -2244 -2244 ACCOUNTS, LOANS, INTER 522130 664968 664968 MISCELLANEOUS INCOME 522130 41123 41123 NONMEMBER ATM FEE 525990 24008 24008 817 817 730916 2950282 2644332 24825 281125 180865 804716 46682 14591 67668 29744 49155 75205 101828 225570 101584 28672 14235 213416 118404 71220 CHECK AND LOAN SERVICIN 155001 ATM AND DEBIT CARD 105664 BAD DEBTS 81210 OTHER OPERATING EXPENSE 29308 64994 2579732 748711 1012342 18172557 21953071 909 6892 41042805 38038334 90316 63598 4146269 1675298 1783925 2470971 100000 100000 1294038 1510130 63233261 65155338 178771 136174 52338935 53923422 52517706 54059596 X 0 0 0 0 10715555 11095742 10715555 11095742 63233261 65155338 370550 9637 0 X X 0 0 0 737688 737688 1866703 545924 1320779 299932 162977 136955 1187589 918742 268847 54357 47655 6702 2470971 MEMBER DEPOSITS 53923422 53923422 X X X X 0 0 0 HILLARD SPARKS CEO, SEC/TREASURER 150151 0 0 0 0 0 15015 0 15699 0 180865 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 VALLEY CREDIT UNION IS A NON-PROFIT FINANCIAL INSTITUTION THAT IS OWNED AND OPERATED ENTIRELY BY ITS MEMBERS. TO BECOME A MEMBER OF THE CREDIT UNION, AN INDIVIDUAL MUST LIVE, WORK, ATTEND SCHOOL, OR WORSHIP IN COLBERT, FRANKLIN, LAWRENCE OR LAUDERDALE COUNTIES IN ALABAMA. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF VALLEY CREDIT UNION ELECT ITS BOARD OF DIRECTORS AT THEIR ANNUAL MEETINGS. THE MEMBERS OF THE CREDIT UNION ARE INFORMED OF THE BOARD POSITIONS WHICH ARE UP FOR ELECTION BY THE NOMINATING COMMITTEE. THE MEMBERS THEN PROCEED TO VOTE TO FILL THE OPEN BOARD POSITIONS. IN ORDER FOR A BOARD MEMBER TO BE ELECTED, A QUORUM MUST BE PRESENT AT THE MEETING. FORM 990, PART VI, SECTION A, LINE 8B VALLEY CREDIT UNION DOES NOT HAVE COMMITTEES WITH THE RESPONSIBILITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11 UPON COMPLETION OF VALLEY 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 BOARD OF DIRECTORS ARE RESPONSIBLE FOR ADHERING TO THE CONFLICT OF INTEREST POLICY. THE CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY BY THE BOARD OF DIRECTORS AT ONE OF THEIR MEETINGS. IT IS AT THIS TIME THE BOARD REVIEWS THE POLICY AND MAKES ANY CHANGES AS THEY SEE FIT. BOARD MEMBERS ARE ALSO RESPONSIBLE FOR COMMUNICATING ANY POTENTIAL CONFLICTS OF INTEREST AS SOON AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE OFFICER AND ALL EMPLOYEES IS DETERMINED ON A YEARLY BASIS. SALARIES ARE BASED ON POSITION AND DETERMINED BY FOLLOWING THE GUIDELINES OF EITHER THE CUNA SALARY SURVEY OR THE SOUTHEASTERN CREDIT UNION SALARY SURVEY. THE CEO ABSTAINS FROM VOTING ON HIS SALARY WHICH IS DETERMINED SOLELY BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 VALLEY 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 XII, LINE 2 ON A YEARLY BASIS THE ALABAMA CREDIT UNION ADMINISTRATION EXAMINES THE FINANCIAL STATEMENTS OF THE CREDIT UNION. OTHER PROCEDURES ARE PERFORMED BY AN INDEPENDENT ACCOUNTING FIRM IN REGARD TO THE SUPERVISORY REPORT AND OTHER FINANCIAL ISSUES. . SECTION 1.263(A)-1(F) DE MINIMIS SAFE HARBOR ELECTION VALLEY CREDIT UNION PO BOX 388 TUSCUMBIA, AL 35674 EMPLOYER IDENTIFICATION NUMBER: 63-0421601 FOR THE YEAR ENDING DECEMBER 31, 2014 VALLEY 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 VALLEY CREDIT UNION PO BOX 388 TUSCUMBIA, AL 35674 EMPLOYER IDENTIFICATION NUMBER: 63-0421601 FOR THE YEAR ENDING DECEMBER 31, 2014 VALLEY CREDIT UNION IS MAKING THE ELECTION TO CAPITALIZE REPAIR AND MAINTENANCE COSTS UNDER REG. SEC. 1.263(A)-3(N).