TUSCALOOSA CREDIT UNION: Form 990, tax year 2011
View the entire original 990 at ProPublica ↗
- Organization
- TUSCALOOSA CREDIT UNION (EIN 63-0362347)
- Tax period
- 2011-01-01 to 2011-12-31
- Filed
- 2012-05-11
- IRS object ID
- 201211329349301036
- Schema version
- 2011v1.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2012-05-11T10:15:57-05:00 | Timestamp |
| Tax Period End Date | 2011-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 630813240 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PEARCE BEVILL LEESBURG MOORE PC | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 110 OFFICE PARK DR SUITE 100 | AddressLine1 |
| City | BIRMINGHAM | City |
| State | AL | State |
| ZIP Code | 35223 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2011-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 630362347 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | TUSCALOOSA CREDIT UNION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | TUSC | NameControl |
| Phone | 2053456043 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 1518 | AddressLine1 |
| City | TUSCALOOSA | City |
| State | AL | State |
| ZIP Code | 354031518 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | TOMMY COBB | Name |
| Title | PRESIDENT/CEO | Title |
| Phone | 2053456043 | Phone |
| Date Signed | 2012-05-11 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | W GLENN BRIDGES | Name |
| PTIN | P00519867 | PTIN |
| Phone | 2053235440 | Phone |
| Date Prepared | 2012-05-08 | DatePrepared |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2011 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | TOMMY COBB | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 1518 | AddressLine1 |
| City | TUSCALOOSA | City |
| State | AL | State |
| ZIP Code | 354031518 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 3282958 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Group Exemption Number | 1422 | GroupExemptionNumber |
| Organization501c | X | Organization501c |
| Web Site | WWW.TUSCALOOSACU.ORG | WebSite |
| Type Of Organization Other | X | TypeOfOrganizationOther |
| Type Of Org Other Description | STATE CHARTERED COOPERATIVE CREDIT UNION | TypeOfOrgOtherDescription |
| Year Formation | 1951 | YearFormation |
| State Legal Domicile | AL | StateLegalDomicile |
| Activity Or Mission Description | COOPERATIVE CREDIT UNION | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 5 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 5 | NbrIndependentVotingMembers |
| Total Nbr Employees | 23 | TotalNbrEmployees |
| Total Nbr Volunteers | 8 | TotalNbrVolunteers |
| Total Gross UBI | 10245 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 0 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 3347203 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 3282958 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 0 | InvestmentIncomePriorYear |
| Investment Income Current Year | 0 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 0 | OtherRevenuePriorYear |
| Other Revenue Current Year | 0 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 3347203 | TotalRevenuePriorYear |
| Total Revenue Current Year | 3282958 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 0 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 836424 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 843792 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 2253417 | OtherExpensePriorYear |
| Other Expenses Current Year | 2094418 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 3089841 | TotalExpensesPriorYear |
| Total Expenses Current Year | 2938210 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 257362 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 344748 | RevenuesLessExpensesCY |
| Total Assets BOY | 48977947 | TotalAssetsBOY |
| Total Assets EOY | 53501827 | TotalAssetsEOY |
| Total Liabilities BOY | 44161493 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 48340625 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 4816454 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 5161202 | NetAssetsOrFundBalancesEOY |
| Mission Description | COOPERATIVE SOCIETY INCORPORATED FOR THE TWOFOLD PURPOSE OF PROMOTING THRIFT AMONG ITS MEMBERS AND CREATING A SOURCE OF CREDIT FOR THEM AT LEGITIMATE RATES OF INTEREST. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 2938210 | Expense |
| Description | CODE OF ALABAMA, SEC 5-17-1, STATES THAT A CREDIT UNION IS A COOPERATIVE SOCIETY INCORPORATED FOR THE TWOFOLD PURPOSE OF PROMOTING THRIFT AMONG ITS MEMBERS AND CREATING A SOURCE OF CREDIT FOR THEM AT LEGITIMATE RATES OF INTEREST. TUSCALOOSA CREDIT UNION, AN ALABAMA STATE CHARTERED CREDIT UNION, PROVIDES THESE SERVICES TO ITS MEMBERS WHO ARE PRIMARILY RESIDENTS OF TUSCALOOSA COUNTY, ALABAMA. THE CREDIT UNION'S FIELD OF MEMBERSHIP IS ALSO OPEN TO ANYONE WORKING OR PERFORMING BUSINESS IN TUSCALOOSA COUNTY. AT YEAR END 2011, THE CREDIT UNION HAD MEMBERSHIP AND PROVIDED SERVICES TO APPROXIMATELY 5,750 MEMBERS. | Description |
| Total Program Service Expense | 2938210 | TotalProgramServiceExpense |
| Described In501 C3 | 0 | DescribedIn501C3 |
| Schedule B Required | 0 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 0 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 1 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 0 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 0 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 0 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 0 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 1268 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 23 | NumberOfEmployees |
| Employment Tax Returns Filed | 0 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 1 | UnrelatedBusinessIncome |
| Form990-T Filed | 1 | Form990-TFiled |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributions |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 5 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 5 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 1 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 1 | MembersOrStockholders |
| Election Of Board Members | 1 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 1 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 0 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 0 | ConflictOfInterestPolicy |
| Whistleblower Policy | 0 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 0 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | TOMMY COBB | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 2053456043 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1100 21ST AVENUE | AddressLine1 |
| City | TUSCALOOSA | City |
| State | AL | State |
| ZIP Code | 35401 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (9 entries)
| TitleTitle | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | Average Hours Per WeekAverageHoursPerWeek | OfficerOfficer |
|---|---|---|---|---|---|---|
| HAROLD TERRY | ||||||
| BOARD PRESIDENT | X | 0 | 0 | 0 | ||
| JOE BROWN | ||||||
| DIRECTOR | X | 0 | 0 | 0 | ||
| ELLEN PHILLIPS | ||||||
| DIRECTOR | X | 0 | 0 | 0 | ||
| DOUG OVERTON | ||||||
| DIRECTOR | X | 0 | 0 | 0 | ||
| JANICE WRIGHT | ||||||
| DIRECTOR | X | 0 | 0 | 0 | ||
| NATHANIEL HOWARD | ||||||
| SUPERVISORY COMMITEE MEMBE | X | 0 | 0 | 0 | ||
| WILLIE FORT | ||||||
| SUPERVISORY COMMITEE MEMBE | X | 0 | 0 | 0 | ||
| DON PRESLEY | ||||||
| SUPERVISORY COMMITEE MEMBE | X | 0 | 0 | 0 | ||
| TOM COBB | ||||||
| PRESIDENT/CEO | 90502 | 0 | 3674 | 40.00 | X | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 90502 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 3674 | TotalOtherCompensation |
| Number Individuals GT100 K | 0 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 0 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (2 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| EPL | |||||
| 22 INVERNESS CENTER PKWY SUITE 400 | BIRMINGHAM | AL | 35242 | CORE PROCESSOR | 175313 |
| LEAGUE OF SOUTHEASTERN CREDIT UNIONS | |||||
| 221 INVERNESS CENTER PKWY SUITE 200 | BIRMINGHAM | AL | 35242 | DEBIT CARD REWARDS, AUDITS, COMPLIANCE, | 139029 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 2 | NumberOfContractorsGT100K |
Program Service Revenue ProgramServiceRevenue (3 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome | Unrelated Business RevenueUnrelatedBusinessRevenue |
|---|---|---|---|---|
| INTEREST INCOME FROM M | 522100 | 2223558 | 2223558 | |
| FINANCIAL SERVICE FEES | 522100 | 961002 | 950757 | 10245 |
| INVESTMENT INTEREST IN | 522100 | 98398 | 98398 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 3282958 | TotalProgramServiceRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 3282958 | TotalRevenueColumn |
| Related Or Exempt Function Income | 3272713 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 10245 | UnrelatedBusinessRevenue |
| Exclusion | $0 | ExclusionAmount |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 90502 | Total |
Comp Disqual Persons CompDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 502307 | Total |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 73128 | Total |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 177855 | Total |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 116929 | Total |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 35306 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 114899 | Total |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 31070 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 59279 | Total |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 32846 | Total |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal |
|---|---|
| MEMBER SHARES DIVIDENDS | 791520 |
| COST OF FINANCIAL SERVI | 405132 |
| PROVISION FOR LOAN LOSS | 221300 |
| BORROWERS INSURANCE & N | 95000 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 191137 | Total |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2938210 | Total |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 802847 | BOY |
| EOY | 1035686 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 36821771 | BOY |
| EOY | 39975337 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 48251 | BOY |
| EOY | 37114 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 2468702 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 557979 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1943075 | BOY |
| EOY | 1910723 | EOY |
Investments Program Related InvestmentsProgramRelated
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 8894373 | BOY |
| EOY | 9947380 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 467630 | BOY |
| EOY | 595587 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 48977947 | BOY |
| EOY | 53501827 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 385110 | BOY |
| EOY | 336726 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 43776383 | BOY |
| EOY | 48003899 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 44161493 | BOY |
| EOY | 48340625 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Do Not Follow SFAS117 | X | DoNotFollowSFAS117 |
Cap Stck Trst Prin Current Funds CapStckTrstPrinCurrentFunds
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Paid In Cap Srpls Land Bldg Eqp Fund PaidInCapSrplsLandBldgEqpFund
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4816454 | BOY |
| EOY | 5161202 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4816454 | BOY |
| EOY | 5161202 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 48977947 | BOY |
| EOY | 53501827 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expenses | 344748 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | 0 | ReconcilationOtherChanges |
| Info In Schedule O Part XII | X | InfoInScheduleOPartXII |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 0 | FSAudited |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule D IRS990ScheduleD
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 1081975 | OtherCostOrOtherBasis |
| Book Value | 1081975 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 1032792 | OtherCostOrOtherBasis |
| Depreciation | 314078 | Depreciation |
| Book Value | 718714 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 353935 | OtherCostOrOtherBasis |
| Depreciation | 243901 | Depreciation |
| Book Value | 110034 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 1910723 | TotalOfBookValueLandBuildings |
Investments Program Related InvestmentsProgramRelated (3 entries)
| DescriptionDescription | Book ValueBookValue | Method Of ValuationMethodOfValuation |
|---|---|---|
| CORPORATE CREDIT UNION DEPOSITS | 8827054 | C |
| FEDERAL HOME LOAN BANK STOCK | 77914 | C |
| CERTIFICATES OF DEPOSIT IN FINANCIAL INSTITUTIONS | 1042412 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Program Related | 9947380 | TotalOfBookValueProgramRelated |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | MEMBER SHARES AND SHARE CERTIFICATES | Description |
| Amount | $48,003,899 | Amount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 48003899 | TotalOfAmounts |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (9 entries)
| Return ReferenceReturnReference | ExplanationExplanation |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 3 | THE ORGANIZATION USES HANCOCK MANAGEMENT GROUP, AN ALABAMA BASED PROFESSIONAL EMPLOYER ORGANIZATION (PEO) TO PROCESS PAYROLL, ADMINISTER BENEFITS AND PERFORM OTHER PEO FUNCTIONS. |
| FORM 990, PART VI, SECTION A, LINE 6 | ALABAMA BANKING CODE, SECTION 5-17-5 STATES THAT, "CREDIT UNION MEMBERSHIP SHALL CONSIST OF THE INCORPORATORS AND SUCH OTHER PERSONS AS MAY BE ELECTED TO MEMBERSHIP AND WHO SUBSCRIBE TO AT LEAST ONE SHARE AND PAY THE INITIAL INSTALLMENT THEREON AND THE ENTRANCE FEE. ORGANIZATIONS, INCORPORATED OR OTHERWISE, COMPOSED FOR THE MOST PART OF THE SAME GENERAL GROUP AS THE CREDIT UNION MEMBERSHIP MAY BE MEMBERS. CREDIT UNION ORGANIZATION SHALL BE LIMITED TO GROUPS, OF BOTH LARGE AND SMALL MEMBERSHIP, HAVING A COMMON BOND OF OCCUPATION OR ASSOCIATION OR TO GROUPS WITHIN A WELL- DEFINED NEIGHBORHOOD, COMMUNITY OR RURAL DISTRICT." THE MEMBERSHIP OF TUSCALOOSA CREDIT UNION AT YEAR END 2011, WAS OPEN TO ANYONE THAT RESIDES, WORKS OR PERFORMS BUSINESS IN TUSCALOOSA COUNTY, ALABAMA, AND CONSISTED OF APPROXIMATELY 5,750 MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 7A | ALABAMA BANKING CODE, SECTION 5-17-10 STATES THAT, "AT THE ANNUAL MEETING, THE CREDIT UNION SHALL ELECT A BOARD OF DIRECTORS OF NOT LESS THAN FIVE MEMBERS, A CREDIT COMMITTEE OF NOT LESS THAN THREE MEMBERS AND A SUPERVISORY COMMITTEE OF THREE MEMBERS, ALL TO HOLD OFFICE FOR SUCH TERMS RESPECTIVELY AS THE BYLAWS PROVIDE AND UNTIL SUCCESSORS QUALIFY. A RECORD OF THE NAMES AND ADDRESSES OF THE MEMBERS OF THE BOARD AND COMMITTEES AND THE OFFICERS SHALL BE FILED WITH THE ADMINISTRATOR OF THE ALABAMA CREDIT UNION ADMINISTRATION WITHIN 10 DAYS OF THEIR ELECTION. IF, HOWEVER, THE BYLAWS SO PROVIDE, THE BOARD OF DIRECTORS SHALL CARRY OUT THE FUNCTIONS AND DUTIES OF THE CREDIT COMMITTEE AND THE CREDIT UNION SHALL NOT ELECT A CREDIT COMMITTEE." THE BYLAWS OF TUSCALOOSA CREDIT UNION GOVERNING ELECTIONS ARE AS FOLLOWS: SEC. 1. - AT LEAST THIRTY (30) DAYS PRIOR TO EACH ANNUAL MEMBERSHIP MEETING, THE PRESIDENT (UNLESS THE PRESIDENT IS NOT A MEMBER OF THE BOARD OF DIRECTORS) SHALL APPOINT A NOMINATING COMMITTEE OF NOT LESS THAN THREE (3) MEMBERS, PROVIDED THAT THE CHAIRMAN OF THE BOARD OF DIRECTORS SHALL APPOINT SUCH NOMINATING COMMITTEE IF THE PRESIDENT IS NOT A MEMBER OF THE BOARD OF DIRECTORS. IT SHALL BE THE DUTY OF THE NOMINATING COMMITTEE TO NOMINATE AT THE ANNUAL MEETING ONE (1) MEMBER FOR EACH VACANCY (INCLUDING ANY UNEXPIRED TERM VACANCY) IN THE BOARD OF DIRECTORS, AND SUPERVISORY COMMITTEE FOR WHICH ELECTIONS WILL BE HELD AT THE ANNUAL MEMBERSHIP MEETING. SEC. 2. - IF THE DIRECTORS HAVE NOT PROVIDED FOR ABSENTEE BALLOTS, THE PRESIDING OFFICER SHALL CALL FOR NOMINATIONS FROM THE FLOOR AFTER THE NOMINATIONS OF THE NOMINATING COMMITTEE HAVE BEEN PLACED BEFORE THE MEMBERS. IF ABSENTEE BALLOTS ARE NOT USED, THE NOMINATIONS SHALL BE DEEMED CLOSED AFTER THE NOMINATIONS OF THE NOMINATING COMMITTEE HAVE BEEN PLACED BEFORE THE MEMBERS AND THE PRESIDENT HAS ACCEPTED ALL NOMINATIONS FROM THE FLOOR. IF THE DIRECTORS HAVE PROVIDED FOR ABSENTEE BALLOTS, THEN THE NOMINATIONS OF THE NOMINATING COMMITTEE WILL BE DISTRIBUTED TO THE MEMBERS AT LEAST 30 DAYS PRIOR TO THE ANNUAL MEETING AND NOMINATIONS WILL BE ACCEPTED FROM THE MEMBERSHIP FOR A PERIOD OF TIME PRESCRIBED BY THE BOARD OF DIRECTORS, BUT NOT LESS THAN 7 DAYS AFTER THE NOMINATIONS OF THE NOMINATING COMMITTEE ARE MAILED OR DISTRIBUTED TO THE MEMBERSHIP. ANY PERSON NOMINATED BY THE MEMBERSHIP MUST PRESENT A WRITTEN NOMINATION SIGNED BY AT LEAST THREE MEMBERS WITHIN A TIME PERIOD PRESCRIBED FOR SUCH NOMINATIONS BY THE BOARD OF DIRECTORS. UPON EXPIRATION OF THE AFORESAID TIME PERIOD FOR SUCH NOMINATIONS WHICH IS PRESCRIBED BY THE BOARD OF DIRECTORS, THE NOMINATIONS SHALL BE DEEMED CLOSED IN THE EVENT THAT ABSENTEE BALLOTS ARE USED. THE PRESIDENT (UNLESS THE PRESIDENT IS NOT A MEMBER OF THE BOARD OF DIRECTORS) SHALL APPOINT TELLERS AT THE ANNUAL MEETING. THE CHAIRMAN OF THE BOARD OF DIRECTORS SHALL APPOINT TELLERS IF THE PRESIDENT IS NOT A MEMBER OF THE BOARD OF DIRECTORS. WRITTEN BALLOTS SHALL BE DISTRIBUTED, THE VOTE TAKEN, THE RESULTS TALLIED BY THE TELLERS AND THE RESULTS ANNOUNCED. ELECTION MAY BE BY SEPARATE BALLOTS FOR EACH DIRECTOR VACANCY OR MAY BE BY ONE BALLOT FOR ALL VACANCIES AT THE DISCRETION OF THE PRESIDING OFFICER. SEC. 3. - WRITTEN BALLOTS ARE REQUIRED FOR ALL ELECTIONS EXCEPT WHEN THERE IS ONLY ONE NOMINEE FOR THE OFFICE. ALL ELECTIONS SHALL BE DETERMINED BY PLURALITY VOTE AND THERE SHALL BE NO RUNOFFS EXCEPT IN THE CASE OF A TIE VOTE. SEC. 4. - NO MEMBER SHALL BE ENTITLED TO VOTE BY PROXY, BUT THE BOARD OF DIRECTORS MAY AUTHORIZE MEMBERS UNABLE TO ATTEND THE ANNUAL MEETING TO VOTE BY ABSENTEE BALLOT IN THE ELECTION OF DIRECTORS AND ON OTHER MATTERS TO COME BEFORE THE ANNUAL MEETING. AN ABSENTEE BALLOT IS TO BE CAST WITH THE SECRETARY, BY MAIL OR IN PERSON, PRIOR TO THE ANNUAL MEETING. THE SECRETARY SHALL CERTIFY THE ELIGIBILITY TO VOTE OF THOSE MEMBERS CASTING ABSENTEE BALLOTS. SEC. 5. - A MEMBER OTHER THAN A NATURAL PERSON MAY VOTE THROUGH AN AGENT DESIGNATED IN WRITING FOR THE PURPOSE. A TRUSTEE, OR OTHER PERSON ACTING IN A REPRESENTATIVE CAPACITY, SHALL NOT, AS SUCH, BE ENTITLED TO VOTE. SEC. 6. - IRRESPECTIVE OF THE NUMBER OF SHARES HELD BY HIM, NO MEMBER SHALL HAVE MORE THAN ONE VOTE. SEC. 7. - NO MINORS UNDER 19 YEARS OF AGE SHALL BE ENTITLED TO VOTE. SEC. 8. - WITHIN TEN (10) DAYS AFTER THEIR ELECTION OR APPOINTMENT A RECORD OF THE NAMES AND ADDRESSES OF THE MEMBERS OF THE BOARD, THE LOAN COMMITTEE, THE EXECUTIVE OFFICERS, AND THE SUPERVISORY COMMITTEE SHALL BE FORWARDED TO THE ALABAMA CREDIT UNION ADMINISTRATION, IN SUCH MANNER AS SHALL BE REQUIRED BY SAID ADMINISTRATION. SEC. 9. - THE BOARD OF DIRECTORS SHALL ESTABLISH THE POLICY OF THE CREDIT UNION CONCERNING LOANS TO DIRECTORS, OFFICERS, EMPLOYEES AND MEMBERS OF A COMMITTEE. |
| FORM 990, PART VI, SECTION A, LINE 7B | THE FOLLOWING TYPES OF DECISIONS ARE SUBJECT TO APPROVAL BY THE CREDIT UNION'S MEMBERS: ELECTION & TERMINATION OF BOARD MEMBERS AND SUPERVISORY COMMITTEE MEMBERS, EXPULSION OF CREDIT UNION MEMBERS, CONVERSION FROM STATE TO FEDERAL CHARTER, AND MERGER DECISIONS. |
| FORM 990, PART VI, SECTION B, LINE 11 | MANAGEMENT PERFORMS A REVIEW OF THE FORM 990 PRIOR TO FILING. |
| FORM 990, PART VI, SECTION B, LINE 15A | MANAGEMENT'S COMPENSATION IS DETERMINED BY THE CREDIT UNION'S BOARD OF DIRECTORS. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE CREDIT UNION MAKES ITS GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. THE CREDIT UNION'S FINANCIAL STATEMENTS CAN BE FOUND ON THE WEBSITE OF THE NCUA AT NCUA.GOV. |
| FORM 990, PART XII, LINE 2B: | ON AN ANNUAL BASIS, THE ALABAMA CREDIT UNION ADMINISTRATION AND/OR THE NATIONAL CREDIT UNION ADMINISTRATION PERFORM A REGULATORY EXAMINATION OF THE FINANCIAL STATEMENTS AND SAFETY AND SOUNDNESS OF THE CREDIT UNION. ADDITIONALLY, THE CREDIT UNION'S FINANCIAL STATEMENTS ARE SUBJECT TO A SUPERVISORY COMMITTEE AUDIT/AGREED UPON PROCEDURES PERFORMED BY AN INDEPENDENT THIRD PARTY AS OF DECEMBER 31 EACH YEAR. |
| FORM 990, PART XII, LINE 2C: | THE CREDIT UNION HAS A SUPERVISORY COMMITTEE THAT IS RESPONSIBLE FOR ENSURING THAT THE BOARD OF DIRECTORS AND MANAGEMENT OF THE CREDIT UNION - (1)MEET REQUIRED FINANCIAL REPORTING OBJECTIVES AND (2) ESTABLISH PRACTICES AND PROCEDURES SUFFICIENT TO SAFEGUARD MEMBERS' ASSETS. THIS INCLUDES OVERSEEING THE ANNUAL FINANCIAL STATEMENT AUDIT/AGREED UPON PROCEDURES AND THE SELECTION OF THE INDEPENDENT AUDITOR/ACCOUNTANT. |
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