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Nonprofiteer
← FORT MCCLELLAN CREDIT UNION

Form 990 for tax year 2024

Filed by FORT MCCLELLAN CREDIT UNION.

Totals

Total revenue
$10,945,702
Total expenses
$11,616,451
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$10,945,702
Investment income
$0
Other revenue
$0
Total assets, end of year
$219,592,573
Total liabilities, end of year
$202,515,016
Net assets or fund balances, end of year
$17,077,557
Program services expenses (Part IX)
$11,616,451
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$11,616,451

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: LOAN INTEREST INCOME

    total $6,014,126 · related or exempt $6,014,126

  • 2b · Program service revenue: INVESTMENT INCOME

    total $2,735,659 · related or exempt $2,735,659

  • 2c · Program service revenue: FINANCIAL SERVICES INCOME

    total $2,195,917 · related or exempt $2,062,378 · unrelated business $133,539

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $616,500 · program services $616,500

  • 7 · Other salaries and wages

    total $2,483,135 · program services $2,483,135

  • 8 · Pension plan contributions

    total $63,602 · program services $63,602

  • 9 · Other employee benefits

    total $138,223 · program services $138,223

  • 10 · Payroll taxes

    total $227,619 · program services $227,619

  • 11b · Fees: legal

    total $26,934 · program services $26,934

  • 11c · Fees: accounting

    total $97,028 · program services $97,028

  • 11g · Fees: other

    total $1,793,490 · program services $1,793,490

  • 12 · Advertising and promotion

    total $137,544 · program services $137,544

  • 13 · Office expenses

    total $463,890 · program services $463,890

  • 16 · Occupancy

    total $455,739 · program services $455,739

  • 17 · Travel

    total $37,469 · program services $37,469

  • 20 · Interest

    total $715,979 · program services $715,979

  • 22 · Depreciation, depletion and amortization

    total $617,489 · program services $617,489

  • 23 · Insurance

    total $174,939 · program services $174,939

  • 24a · Other expenses: MEMBER SHARE DIVIDENDS

    total $2,779,660 · program services $2,779,660

  • 24b · Other expenses: COST OF FINANCIAL SERVI

    total $414,511 · program services $414,511

  • 24c · Other expenses: PROVISION FOR LOAN LOSS

    total $339,446 · program services $339,446

  • 24d · Other expenses: ASSOCIATION DUES AND SU

    total $33,254 · program services $33,254

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,268,122 · end of year $1,033,962

  • 2 · Savings and temporary cash investments

    beginning of year $14,830,224 · end of year $16,593,245

  • 5 · Loans and receivables from officers and key people

    beginning of year $251,392 · end of year $259,521

  • 7 · Other notes and loans receivable

    beginning of year $101,876,543 · end of year $95,699,177

  • 9 · Prepaid expenses and deferred charges

    beginning of year $193,875 · end of year $246,014

  • 10a · Land, buildings and equipment: cost or other basis

    $18,491,930

  • 10b · Land, buildings and equipment: accumulated depreciation

    $4,254,536

  • 10c · Land, buildings and equipment, net

    beginning of year $14,813,952 · end of year $14,237,394

  • 13 · Investments: program-related

    beginning of year $94,837,232 · end of year $86,017,386

  • 15 · Other assets

    beginning of year $5,087,162 · end of year $5,505,874

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,513,694 · end of year $2,222,352

  • 25 · Other liabilities

    beginning of year $216,161,939 · end of year $200,292,664

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $16,482,869 · end of year $17,077,557

Mission and programs · 2024

Mission

THIS CREDIT UNION IS A VOLUNTARY, COOPERATIVE, NON-PROFIT FINANCIAL INSTITUTION, CHARTERED UNDER THE ALABAMA CREDIT UNION ACT (CODE OF ALABAMA, 1975, TITLE 5 CHAPTER 17). ITS PRIMARY PURPOSE IS THE ENCOURAGEMENT OF THRIFT, THE CREATION OF A SOURCE OF CREDIT AT FAIR AND REASONABLE RATES OF INTEREST, AND THE PROVISION OF OPPORTUNITIES FOR ITS MEMBERS TO CONTROL THEIR OWN MONEY IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITION.

Activities or mission (Part I)

COOPERATIVE CREDIT UNION

  • 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. FORT MCCLELLAN CREDIT UNION, AN ALABAMA STATE CHARTERED CREDIT UNION, PROVIDES THESE SERVICES TO ITS MEMBERS. THE CREDIT UNION'S FIELD OF MEMBERSHIP INCLUDES PRIMARILY PERSONS WHO LIVE, WORK, WORSHIP, OR ATTEND SCHOOL IN CALHOUN, CLEBURNE, TALLADEGA, CLAY, RANDOLPH, CHEROKEE, ETOWAH, ST. CLAIR, AND CHAMBERS COUNTIES, ALABAMA; CITY, COUNTY STATE, AND FEDERAL EMPLOYEES LIVING OR WORKING IN ST. CLAIR AND ETOWAH COUNTIES; NATIONAL GUARD AND US ARMY RESERVE PERSONNEL WITHIN THE TRADE AREA OF FMCU; AND THEIR RELATIVES. AS OF DECEMBER 31, 2024, THE CREDIT UNION HAD MEMBERSHIP AND PROVIDED SERVICES TO APPROXIMATELY 15,477 MEMBERS.

    Expenses $11,616,451

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • JOSPEH ROBERTSON RETIRED 2024

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.5

  • KENNETH JOINER

    BOARD VICE CHAIRPERSON

    Total calculated
    $0
    Hours/week
    2.5

  • DARRELL WALDRUP RETIRED 2024

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.5

  • SUSAN TRAMMELL

    BOARD SECRETARY, TREASURER

    Total calculated
    $0
    Hours/week
    2.5

  • LOIDA CARTER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.5

  • JEFF LEONARD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.5

  • KYLE MEDDERS RETIRED 2024

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.5

  • KIM MCCARSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.5

  • VAN ROBERTS

    BOARD CHAIRPERSON

    Total calculated
    $0
    Hours/week
    2.5

  • PAMELA ROBERTSON RETIRED 2024

    SUPERVISORY COMMITTEE MEMB

    Total calculated
    $0
    Hours/week
    2.5

  • JONATHON BOBO

    SUPERVISORY COMMITTEE CHAIR

    Total calculated
    $0
    Hours/week
    2.5

  • SONYA HEATHCOCK

    SUPERVISORY COMMITTEE MEMB

    Total calculated
    $0
    Hours/week
    2.5

  • MICHAEL MCDERMOTT RETIRED 2024

    SUPERVISORY COMMITTEE MEMB

    Total calculated
    $0
    Hours/week
    2.5

  • ZACH VAN GIESON

    SUPERVISORY COMMITTEE MEMB

    Total calculated
    $0
    Hours/week
    2.5

  • ANN RAINEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.5

  • ALLEN SKELTON

    BOARD CHAIRPERSON

    Total calculated
    $0
    Hours/week
    2.5

  • CAROL DAVIDSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.5

  • ANGELA SMITH

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $193,973
    From this org
    $168,892
    From related orgs
    $0
    Other
    $25,081
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $167,192
    Bonus
    $400
    Other
    $1,300
    Deferred
    $18,623
    Nontaxable benefits
    $6,458
    Filer's total
    $193,973

  • JOHN TERRANO

    CHIEF OPERATING OFFICER/HR

    Total calculated
    $165,318
    From this org
    $143,452
    From related orgs
    $0
    Other
    $21,866
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $141,752
    Bonus
    $400
    Other
    $1,300
    Deferred
    $15,444
    Nontaxable benefits
    $6,422
    Filer's total
    $165,318

  • TRENT BARNETT

    CHIEF FINANCIAL OFFICER

    Total calculated
    $150,928
    From this org
    $138,000
    From related orgs
    $0
    Other
    $12,928
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $136,300
    Bonus
    $400
    Other
    $1,300
    Deferred
    $0
    Nontaxable benefits
    $12,928
    Filer's total
    $150,928

  • CHRISTIN GLANZE

    SVP COMPLIANCE

    Total calculated
    $106,281
    From this org
    $93,379
    From related orgs
    $0
    Other
    $12,902
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $91,679
    Bonus
    $400
    Other
    $1,300
    Deferred
    $6,752
    Nontaxable benefits
    $6,150
    Filer's total
    $106,281

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 3
COMPENSATION FOR THE CEO IS DETERMINED ON A YEARLY BASIS. BEFORE COMPENSATION IS SET, A PERSONNEL COMMITTEE EXAMINES THE TYPE AND AMOUNT OF WORK PERFORMED BY THE CEO WHILE TAKING INTO ACCOUNT THE CREDIT UNION'S PRIOR YEAR INCOME. THE COMMITTEE USES NATIONAL PEER GROUP SALARY GUIDES PROVIDED BY CUNA AS AN INDEPENDENT SALARY GUIDE. THE PERSONNEL COMMITTEE THEN PRESENTS THE SALARY TO THE BOARD OF DIRECTORS FOR APPROVAL.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • LLCU REAL ESTATE LLC

    HOLDING AND RENTING COMMERCIAL REAL ESTATE · AL · income $48,000 · assets $1,491,629

    Directly controlled by FORT MCCLELLAN CREDIT UNION

Provenance

Return type
form_990
Tax year
2024
Filed
29 May 2025
IRS schema version
2024v5.1
Source object
202541499349301119

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