2014-11-14T13:52:54-06:00 2013-12-31 580692043 Mauldin & Jenkins LLC 200 Galleria Pkwy SE Ste 1700 Atlanta GA 303395946 990 2013-01-01 580240950 Associated Credit Union ASSO 7704488200 6251 Crooked Creek Road Norcross GA 300923107 Timothy G Bridges EVP/CFO 7704488200 2014-11-14 1 Mary Jo Alexander P00002534 7709558600 2014-11-14 2013 2015-11-30 17:44:51Z C Lin Hodges 6251 Crooked Creek Road Norcross GA 300923107 57320910 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 12 381 16 608753 -129863 0 0 51047624 51686299 6504506 5634611 0 0 57552130 57320910 0 0 0 0 19467565 20119970 0 0 0 30672220 29740578 50139785 49860548 7412345 7460362 1275874711 1307431260 1134581431 1158625419 141293280 148805841 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 33535 0 1 381 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 6750 0 0 Chuck Gehrmann Director 1.00 1.00 X 9000 0 0 Harvey Campbell Director 1.00 1.00 X 8250 0 0 Keith Gettmann Director 1.00 1.00 X 9000 0 0 Tim F Kercheval Director 1.00 1.00 X 9000 0 0 Margaret Pittman Director 1.00 1.00 X 9000 0 0 Doyle Spears Director 1.00 1.00 X 9000 0 0 Albert W Smith Director 1.00 1.00 X 1500 0 0 John Petros Director 1.00 1.00 X 9000 0 0 Ron Ford Director 1.00 1.00 X 9000 0 0 Allen Bryan Director 1.00 1.00 X 9000 0 0 George Clarke Director 1.00 1.00 X 9000 0 0 Lin Hodges President/CEO 40.00 X X 562079 0 407294 Greg Connor Executive VP 40.00 X 270770 0 187927 Tim Bridges Executive VP/CFO 40.00 X 255172 0 35511 Mark Waller EVP/COO 40.00 X 220417 0 77780 Karl Mann VP/CIO 40.00 X 185999 0 69187 Deborah Tuttle VP/Operations 40.00 X 178907 0 80791 Pamela Mott VP/Training 40.00 X 146338 0 86729 William Baum VP/Loans 40.00 X 146277 0 159946 Tom Maiellaro VP/Marketing 40.00 X 141152 0 20168 Jeffrey Bergum AVP/Operations 40.00 X 127355 0 3659 Jim LaFond VP/Risk Mitigation 40.00 X 122315 0 39230 2462531 0 1168222 16 0 1 0 National Credit Union Administration PO Box 979069 St Louis MO 63197 Regulatory Assessment 1601091 JACK HENRY & ASSOCIATES INC 11395 Old Roswell Road Alpharetta GA 30009 Bank Automation Solutions 944205 THOMPSON O'BRIEN KEMP & NASUTI PC 40 Technology Parkway Norcross GA 30092 Legal Services 459929 Cox Radio Group 6205 Peachtree Dunwoody Road Atlanta GA 30328 Advertising Expenses 437891 CONSULTANTS & BUILDERS INC 3100 Medlock Bridge Road Suite 420 Norcross GA 30071 Design & Construction-Banking 298337 109 Interest on Loans 522100 26563591 26563591 Fee Income 522100 16212397 15603644 608753 Other Operating Income 522100 7692257 7692257 Gain on Sale of Mtge Loans 522100 1218054 1218054 51686299 5632355 5632355 2256 0 2256 2256 2256 57320910 51077546 608753 5634611 2857415 11749441 583966 3839111 1090037 82270 101480 1607695 1555482 4718426 496733 1267205 263018 281504 5151637 1516340 1177198 Loan Servicing Expense 4029434 Provision for Loan Loss 3150000 ATM Expenses 2814378 ATM,Credit Cd, etc Loss 765831 761947 49860548 9795829 9426081 141435376 108557039 1010000 2544000 565465215 623819252 28257991 15428501 11911355 12829490 513131940 520598264 8443818 2043100 24681178 27614034 1275874711 1307431260 17934949 14451286 1116646482 1144174133 1134581431 1158625419 X 0 0 0 0 141293280 148805841 141293280 148805841 1275874711 1307431260 X 7460362 52199 X X 0 1 X 1 0 2991604 2991604 12836864 5420142 7416722 4486590 3773276 713314 7942933 6235083 1707850 12829490 Held to Maturity Securities 516081965 F Other Investments 4516299 F 520598264 Member Shares and Deposits 1144174133 1144174133 X 57318654 0 57318654 2256 2256 57320910 49858292 -2256 -2256 49860548 0 49860548 Part X, Line 2: The Credit Union is exempt, by statute, from federal income taxes. The Internal Revenue Service (IRS) has issued a clarification in the form of a Technical Advice Memorandum(TAMs) on the issue of Unrelated Business Income Tax (UBIT). The IRS has indicated this memorandum will clarify its position on what types of revenue are subject to UBIT. However, IRC Section 511 imposes a tax on the unrelated business income derived by state-chartered credit unions. Many states have similar laws related to various activities conducted by state-chartered credit unions. At this time, there is uncertainty regarding whether the Credit Union should pay income tax on certain types of net taxable income from activities that may be considered by taxing authorities as unrelated to the purpose for which the Credit Union was granted nontaxable status. The taxing authorities have the ability to assess taxes, penalties, and interest for any years for which no tax return was filed. Management has evaluated the Credit Union's tax positions and concluded that the Credit Union has taken no uncertain tax positions that require adjustments to the financial statements. In the opinion of Management, any liability resulting from taxing authorities imposing income taxes on the net taxable income from activities deemed to be unrelated to the Credit Union's nontaxable status is not expected to have a material effect on the Credit Union's financial position or results of operations. While it seems likely that certain income streams of state chartered credit unions will be subject to UBIT, the issue remains open. The Credit Union files IRS forms 990 and 990T in the U.S. federal jurisdiction and has a December 31 tax year end. Part XI, Line 4b - Other Adjustments: Reclass Gain On Sale of Fixed Assets to Revenue 2,256. Part XII, Line 2d - Other Adjustments: Reclass Gain on Sale of Fixed Expenses from Expense -2,256. X X X 1 1 X X X X 0 1 0 Lin Hodges President/CEO 460079 0 102000 0 0 0 400681 0 6613 0 969373 0 0 0 Greg Connor Executive VP 220770 0 50000 0 0 0 185327 0 2600 0 458697 0 0 0 Tim Bridges Executive VP/CFO 215172 0 40000 0 0 0 32391 0 3120 0 290683 0 0 0 Mark Waller EVP/COO 180417 0 40000 0 0 0 72378 0 5402 0 298197 0 0 0 Karl Mann VP/CIO 163410 0 22589 0 0 0 64637 0 4550 0 255186 0 0 0 Deborah Tuttle VP/Operations 158556 0 20351 0 0 0 78646 0 2145 0 259698 0 0 0 Pamela Mott VP/Training 130089 0 16249 0 0 0 81159 0 5570 0 233067 0 0 0 William Baum VP/Loans 129535 0 16742 0 0 0 159166 0 780 0 306223 0 0 0 Tom Maiellaro VP/Marketing 125193 0 15959 0 0 0 13881 0 6287 0 161320 0 0 0 Jim LaFond VP/Risk Mitigation 108474 0 13841 0 0 0 35939 0 3291 0 161545 0 0 0 Part I, Line 4b Actuarial Increase and Current Year Employer Contributions in Non-Qualified Defined Benefit Deferred Compensation 457f Plan and Non-Qualified 457b Plan: C. Lin Hodges $ 400,681 T. Greg Connor 185,327 Tim Bridges 32,391 Mark Waller 72,378 Deborah S. Tuttle 78,646 Karl Mann 64,637 Pamela M. Mott 81,159 William D. Baum 159,166 Tom Maiellero 13,881 Jim LaFond 35,939 C Lin Hodges President CEO Split Dollar Life Insurance X 900000 900000 0 1 1 Tim Bridges Executive VP/CFO Split Dollar Life Insurance X 400000 400000 0 1 1 Mark Waller EVP/COO Split Dollar Life Insurance X 400000 400000 0 1 1 Karl Mann VP/Information Technology Split Dollar Life Insurance X 320000 320000 0 1 1 Leah Eldridge Division President Split Dollar Life Insurance X 320000 320000 0 1 1 Jeffrey Bergum .AVP/Operations Split Dollar Life Insurance X 204000 204000 0 1 1 2544000 Form 990, Part VI, Section A, line 6 Associated Credit Union is a state-chartered credit union with 158,128 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 11 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 XI, line 9: Change in Entrance Fees 52,199. 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 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0