2013-04-10T16:28:29-05:00 2012-12-31 461498870 BARFIELD MURPHY SHANK & SMITH LLC 1121 RIVERCHASE OFFICE RD BIRMINGHAM AL 35244 990 2012-01-01 630421601 VALLEY CREDIT UNION VALL 2563814800 PO BOX 388 TUSCUMBIA AL 35674 HILLARD SPARKS 2563814800 2013-05-15 1 CYNTHIA HUDSON CPA P00029332 2059825500 2013-05-15 2012 2016-02-25 16:41:14Z HILLARD SPARKS PO BOX 388 TUSCUMBIA AL 35674 3124729 0 X HTTP://WWW.VALLEYCREDITUNION.NET/ X 1956 AL TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS 9 8 31 12 31907 0 0 0 2276328 2198588 110633 195034 674938 644174 3061899 3037796 0 0 0 0 918125 903140 0 0 0 1603073 1508587 2521198 2411727 540701 626069 60478506 62845931 50810034 52443469 9668472 10402462 TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS 0 0 6,480 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 1911 0 1 31 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 40.00 X X 168610 0 31261 DR JOHN LANDERS 1.00 X 0 0 0 ROYCE MASSEY 1.00 X 0 0 0 LIONEL DOUG ISBELL 1.00 X 0 0 0 DR ROBERT CLEMMONS 1.00 X 0 0 0 MRS MARTHA BOWLES 1.00 X 0 0 0 OTIS JOHNSON 1.00 X 0 0 0 DOUGLAS WORLEY 1.00 X 0 0 0 DR RICHARD GARDNER 1.00 X 0 0 0 168610 0 31261 1 0 1 0 EPL INC 22 INVERNESS CENTER PARKWAY BIRMINGHAM AL 35242 DATA PROCESSING 244882 1 LOAN INTEREST INCOME 522130 2198588 2198588 2198588 243487 243487 4748 4748 38480 86933 -48453 -48453 -48453 ACCOUNTS, LOANS, INTER 522130 564337 564337 MISCELLANEOUS INCOME 522130 43182 43182 NON-MEMBER ATM FEES 525990 28371 28371 3536 3536 639426 3037796 2806107 31907 199782 199871 558566 50137 34671 59895 10915 57103 19765 52583 68782 253864 102615 17193 23432 276853 88894 75209 CHECK AND LOAN SERVICIN 163853 BAD DEBTS 95000 NCUSIF STABILIZATION EX 49334 ATM AND DEBIT CARD 43583 109609 2411727 700035 610429 23801352 16300989 2772 0 32927171 42940948 79285 111680 2828361 1472889 1335341 1355472 100000 100000 1532550 1426413 60478506 62845931 216185 222595 50593849 52220874 50810034 52443469 X 0 0 0 0 9668472 10402462 9668472 10402462 60478506 62845931 626069 107921 0 X X 0 0 0 483948 483948 1093495 448363 645132 254001 126723 127278 949082 857036 92046 47835 40767 7068 1355472 MEMBER DEPOSITS 52220874 52220874 X X X X 0 0 0 HILLARD SPARKS 168610 0 0 0 0 0 16861 0 14400 0 199871 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 RESIDE WITHIN 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.