2012-10-23T09:02:07-05:00 2011-12-31 631077072 BARFIELD MURPHY SHANK & SMITH PC 1121 RIVERCHASE OFFICE RD BIRMINGHAM AL 35244 990 2011-01-01 630440014 ALABAMA CREDIT UNION ALAB 2053485944 PO BOX 862998 TUSCALOOSA AL 35486 STEPHEN K SWOFFORD 2053485944 2012-10-18 1 JACK KNIGHT CPA P00192609 2059825500 2011 2016-02-24 21:20:13Z STEPHEN K SWOFFORD PO BOX 862998 TUSCALOOSA AL 35486 34581229 0 X WWW.ALABAMACU.COM X 1956 AL TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS 11 11 168 14 358825 -182553 0 0 11141745 11266384 4739847 6509030 7023067 6991756 22904659 24767170 0 0 0 0 5805936 6539917 0 0 0 11901607 12053931 17707543 18593848 5197116 6173322 387526237 479100381 347556473 430613902 39969764 48486479 TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS 0 0 46,346 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 1 1 0 0 1 13890 0 1 168 1 1 1 0 0 0 0 0 X 11 11 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X ELEANOR M BROWN 2053481781 220 PAUL W BRYANT DRIVE E TUSCALOOSA AL 35486 GLADYS JONES 1.00 X 0 0 0 LYNNE APRIL 1.00 X 0 0 0 MARCUS JONES 1.00 X 0 0 0 THOMAS JONES 1.00 X 0 0 0 THOMAS WEST 1.00 X 0 0 0 REBA ESSARY 1.00 X 0 0 0 FRANK DYKES 1.00 X 0 0 0 MARK NELSON 1.00 X 0 0 0 WILLIAM DARDEN 1.00 X 0 0 0 RON DULEK 1.00 X 0 0 0 CHARLOTTE HARRIS 1.00 X 0 0 0 STEPHEN K SWOFFORD 40.00 X 233854 0 41662 KAYCE M BELL 40.00 X 162255 0 22408 ELEANOR BROWN 40.00 X 136316 0 28475 MICHAEL R SHULTS 40.00 X 93196 0 28917 BENSON P BOLLING 40.00 X 99299 0 14324 724920 0 135786 3 0 1 0 LEAGUE OF SOUTHEASTERN CREDIT UNIONS PO BOX 380428 BIRMINGHAM AL 352380428 AUDITING/CO-OP SERVICE 698237 FUNDSXPRES PO BOX 3366 OMAHA NE 681760400 BILL PAY SERVICE 382901 VELOCITY SOLUTIONS INC 1710 DAWSON STREET WILMINGTON NC 28403 ARS PROGRAM 280136 FISERV SOLUTIONS INC 75 REMITTANCE DRIVE CHICAGO IL 606756945 DISASTER RECOVERY SERVICE 227268 DELTACOM PO BOX 2252 BIRMINGHAM AL 352461058 PHONE/DATA SERVICE 177000 7 LOAN INTEREST INCOME 522130 11266384 11266384 11266384 6130315 250000 5880315 57382 57382 97714 0 97714 97714 97714 9886401 306373 9462176 351883 424225 -45510 378715 378715 NSF ACCOUNT CHARGES 522130 3446934 3446934 INTERCHANGE ACCOUNT CH 522130 2132225 2132225 OTHER ACCOUNT & LOAN F 522130 600150 600150 657351 548526 108825 6836660 24767170 17994219 358825 6414126 860706 3759617 407652 1113311 398631 65035 89503 67783 501681 1008502 355762 588463 101278 131881 3641934 1057673 155609 STABILIZATION EXPENSE 798455 ATM EXPENSE 737936 CHECK & LOAN SERVICING 686832 REPAIRS & MAINTENANCE 606124 1459480 18593848 8359322 9812574 32202672 30302091 186529789 197455884 477911 877918 22457776 6862527 12962393 15595249 6932008 214007322 130560435 62435 9501707 10986908 387526237 479100381 2024789 2922811 25000000 345531684 402691091 347556473 430613902 X 0 0 0 0 39969764 48486479 39969764 48486479 387526237 479100381 X 6173322 2343393 X X 0 0 0 3458926 3458926 12643982 1790792 10853190 6354868 5071735 1283133 15595249 MEMBER DEPOSITS 402691091 402691091 X X X 0 1 0 STEPHEN K SWOFFORD 207664 0 17362 0 8828 0 31234 0 10428 0 275516 0 0 0 KAYCE M BELL 134808 0 11254 0 16193 0 14115 0 8293 0 184663 0 0 0 ELEANOR BROWN 119423 0 9342 0 7551 0 20746 0 7729 0 164791 0 0 0 PART I, LINE 4B STEPHEN SWOFFORD- AMOUNT PAID DURING 2011 $4,470 - SPLIT - DOLLAR LIFE INSURANCE PLAN FORM 990, PART VI, SECTION A, LINE 6 ALABAMA CREDIT UNION IS A NON-PROFIT FINANCIAL INSTITUTION THAT IS OWNED AND OPERATED BY ITS MEMBERS. THERE ARE SEVERAL WAYS IN WHICH AN INDIVIDUAL MAY BECOME A MEMBER OF THE CREDIT UNION. AN INDIVIDUAL CAN BE CONSIDERED FOR MEMBERSHIP IF THEY ARE AFFILLIATED WITH THE UNIVERSITY OF ALABAMA OR THE UNIVERSITY OF ALABAMA AT HUNTSVILLE ALUMNI ASSOCIATION. THEY MAY ALSO BECOME A MEMBER OF THE CREDIT UNION IF THEY LIVE OR WORK IN A COUNTY IN WHICH THE CREDIT UNION HOLDS A COMMUNITY CHARTER (SUCH AS TUSCALOOSA & BALDWIN COUNTIES). LASTLY, AN INDIVIDUAL MAY BECOME A MEMBER OF THE CREDIT UNION AS A RESULT OF EMPLOYMENT WITH A SPONSOR ORGANIZATION SUCH AS THE UNIVERSITY OF ALABAMA OR MERCEDES BENZ COMPANY. FORM 990, PART VI, SECTION A, LINE 7A THE PROCESS FOR NOMINATING DIRECTORS BEGINS BY THE APPOINTMENT OF A NOMINATING COMMITTEE WHO DEVELOP A LIST OF QUALIFIED CANDIDATES TO FILL VACANT BOARD POSITIONS IN ANY GIVEN YEAR. ONCE THIS LIST HAS BEEN COMPILED, THE NOMINATING COMMITTEE MAKES AVAILABLE THE INDIVIDUALS THEY DEEMED QUALIFIED TO THE MEMBERS OF THE CREDIT UNION IN THE JANUARY NEWSLETTER. MEMBERS ARE ALSO GIVEN THE OPPORTUNITY TO NOMINATE INDIVIDUALS THEY DEEM QUALIFIED BY PRESENTING THE NAME OF THE INDIVIDUAL ALONG WITH A SIGNED PETITION OF AT LEAST 1% OF CURRENT MEMBERS. SHOULD A QUALIFYING PETITION BE SUBMITTED, THE VOTE WOULD BE HELD AT THE CREDIT UNION'S ANNUAL MEETING, WITH THE TOP VOTE GETTERS BEING ELECTED. FORM 990, PART VI, SECTION A, LINE 7B THE FOLLOWING TYPES OF DECISIONS ARE SUBJECT TO APPROVAL BY THE CREDIT UNION'S MEMBERS: DISSOLUTION OF THE CREDIT UNION, ELECTION & TERMINATION OF BOARD MEMBERS, EXPULSION OF CREDIT UNION MEMBERS, ELECTION OF SUPERVISORY COMMITTEE MEMBERS, CONVERSION FROM STATE TO FEDERAL CHARTER, & CONVERSION FROM FEDERAL TO PRIVATE INSURANCE AS WELL AS AMENDMENT OF BY-LAWS. FORM 990, PART VI, SECTION B, LINE 11 UPON COMPLETION OF THE 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 ALABAMA CREDIT UNION'S CONFLICT OF INTEREST POLICY IS INCLUDED IN THE EMPLOYEE HANDBOOK. EACH YEAR, THE STAFF SIGN A DOCUMENT STATING THAT THEY HAVE READ THE CONFLICT OF INTEREST POLICY. THE BOARD OF DIRECTORS ALSO REVIEW THE CONFLICT OF INTEREST POLICY ON A YEARLY BASIS. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR OFFICERS, KEY EMPLOYEES & TOP MANAGEMENT OFFICIALS IS DETERMINED ON A YEARLY BASIS. THE COMPENSATION PROCESS BEGINS WITH A COMPILATION OF SALARY RANGES DEVELOPED BY AN OUTSIDE SERVICE SUBSCRIBED TO BY THE CREDIT UNION. THE THIRD PARTY SERVICE PROVIDES RELEVANT COMPENSATION INFORMATION FOR VARIOUS POSITIONS AND RELFECTS INDUSTRY AVERAGES. ONCE THIS INFORMATION HAS BEEN COMPILED, THE SALARY RANGES ARE THEN APPROVED BY THE PERSONNEL COMMITTE AND THE BOARD OF DIRECTORS. THE PRESIDENT'S COMPENSATION FOR THE YEAR IS SET BY THE BOARD OF DIRECTORS. THE PRESIDENT THEN SETS THE COMPENSATION PACKAGES FOR THE REMAINING OFFICERS. FORM 990, PART VI, SECTION C, LINE 19 THE 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 2,343,393. FORM 990, PART XII, LINE 2: ON A YEARLY BASIS, THE NATIONAL CREDIT UNION ADMINISTRATION COMES IN AND EXAMINES THE FINANCIAL STATEMENTS OF ALABAMA CREDIT UNION. THE CREDIT UNION IS ALSO EXAMINED BY THE ALABAMA CREDIT UNION ADMINISTRATION AND THE LEAGUE OF SOUTHEASTERN CREDIT UNIONS AT VARIOUS TIMES DURING THE YEAR. ALABAMA CREDIT UNION SERVICES INC PO BOX 862998 TUSCALOOSA AL 35486 203294739 FINANCIAL SERVICES AL ALABAMA CREDIT UNION C -110 1000 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0