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Nonprofiteer
← GEORGIA UNITED CREDIT UNION

Form 990 for tax year 2024

Filed by GEORGIA UNITED CREDIT UNION.

Totals

Total revenue
$148,353,068
Total expenses
$130,509,188
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$135,444,408
Investment income
$12,850,295
Other revenue
$58,365
Total assets, end of year
$2,267,073,101
Total liabilities, end of year
$2,062,859,412
Net assets or fund balances, end of year
$204,213,689
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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

    total $102,439,589 · related or exempt $102,439,589

  • 2b · Program service revenue: OTHER OPERATING INCOME

    total $17,951,183 · related or exempt $17,951,183

  • 2c · Program service revenue: FEE INCOME

    total $15,053,636 · related or exempt $14,613,262 · unrelated business $440,374

  • 3 · Investment income

    total $12,775,095 · excluded $12,775,095

  • 7a · Gross sales of assets other than inventory

    other assets $314,000

  • 7b · Less cost or other basis and sales expenses

    other assets $238,800

  • 7c · Gain or loss

    other assets $75,200

  • 7d · Net gain or loss

    total $75,200 · excluded $75,200

  • 11a · Other revenue: OTHER NON-OPERATING INCOME

    total $58,365 · related or exempt $58,365

  • 11e · Other revenue, total

    $58,365

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $38,832,334

  • 5 · Compensation of officers, directors and key employees

    total $7,374,892

  • 7 · Other salaries and wages

    total $29,247,881

  • 8 · Pension plan contributions

    total $1,241,102

  • 9 · Other employee benefits

    total $3,505,678

  • 10 · Payroll taxes

    total $1,975,651

  • 11c · Fees: accounting

    total $458,185

  • 11g · Fees: other

    total $1,770,008

  • 12 · Advertising and promotion

    total $2,224,530

  • 13 · Office expenses

    total $14,360,097

  • 16 · Occupancy

    total $2,395,030

  • 17 · Travel

    total $742,445

  • 20 · Interest

    total $3,750,357

  • 22 · Depreciation, depletion and amortization

    total $3,290,010

  • 24a · Other expenses: PROVISION FOR CREDIT LO

    total $12,650,000

  • 24b · Other expenses: LOAN SERVICING

    total $4,737,649

  • 24c · Other expenses: MISC OPERATING EXPENSES

    total $1,777,337

  • 24d · Other expenses: OPERATING FEES

    total $176,002

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $26,215,451 · end of year $29,248,574

  • 2 · Savings and temporary cash investments

    beginning of year $101,745,583 · end of year $126,708,058

  • 5 · Loans and receivables from officers and key people

    beginning of year $12,022,314 · end of year $13,123,895

  • 7 · Other notes and loans receivable

    beginning of year $1,658,013,195 · end of year $1,703,643,201

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,778,718 · end of year $4,082,030

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

    $97,510,239

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

    $42,803,932

  • 10c · Land, buildings and equipment, net

    beginning of year $49,093,614 · end of year $54,706,307

  • 12 · Investments: other securities

    beginning of year $221,520,474 · end of year $286,072,125

  • 14 · Intangible assets

    beginning of year $2,436,865 · end of year $2,436,865

  • 15 · Other assets

    beginning of year $42,979,341 · end of year $47,052,046

  • 17 · Accounts payable and accrued expenses

    beginning of year $42,266,743 · end of year $32,038,790

  • 23 · Secured mortgages and notes payable

    beginning of year $58,924,500 · end of year $88,938,000

  • 25 · Other liabilities

    beginning of year $1,831,257,910 · end of year $1,941,882,622

  • 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 $185,356,402 · end of year $204,213,689

Mission and programs · 2024

Mission

GA UNITED CREDIT UNION WAS ORGANIZED IN 1958 TO SERVE OUR MEMBERS' FINANCIAL NEEDS. AS A CREDIT UNION, WE OPERATE AS A NOT-FOR-PROFIT FINANCIAL COOPERATIVE THAT ENCOURAGES THRIFT BY PROVIDING LOANS AT FAIR AND REASONABLE RATES, PAYING COMPETITIVE DIVIDENDS ON SAVINGS.

Activities or mission (Part I)

GA UNITED CREDIT UNION WAS ORGANIZED IN 1958 TO SERVE OUR MEMBERS' FINANCIAL NEEDS. AS A CREDIT UNION, WE OPERATE AS A NOT-FOR-PROFIT FINANCIAL COOPERATIVE THAT ENCOURAGES THRIFT BY PROVIDING LOANS AT FAIR AND REASONABLE RATES, PAYING COMPETITIVE DIVIDENDS ON SAVINGS PRODUCTS AND IMPLEMENTING FEWER SERVICE FEES FOR OVERALL ACCOUNT MAINTNANCE. INSTEAD OF BEING RUN BY STOCKHOLDERS, WE ARE OWNED BY OUR MEMBERS. EACH MEMBER OWNS AN EQUAL SHARE REGARDLESS OF HIS OR HER ACCOUNT BALANCE. THE BOARD OF DIRECTORS ARE ELECTED BY OUR MEMBERS.

  • INCOME FROM INTEREST ON LOANS TO CREDIT UNION MEMBERS IS ONE OF THE PRIMARY MISSIONS OF THE ORGANIZATION. INTEREST IS CHARGED ON THE LOANS TO MEMBERS AT MARKET RATES.

  • REVENUE FROM ADMIN FEES IS DERIVED FROM CHARGES TO MEMBERS TO MAINTAIN ACCOUNTS, PROCESS LOANS, AND PROVIDE MANY EXTRA SERVICES TO ITS MEMBERS.

  • INVESTMENTS ARE A VITAL PORTION OF SERVICES PROVIDED TO MEMBERS BY THE CREDIT UNION. THESE INVESTMENTS ALLOW MEMBERS TO SAVE AND INVEST MONEY AND INTEREST AND DIVIDENDS ON THESE SECURITIES ARE PAID AT MARKET RATES.

As filed on the 2024 return.

Listed in Part VII

  • THOMAS DICKSON

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    5

  • EDWIN BELL

    CO-VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    5

  • REV MARK STARR

    CO-VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    5

  • DAVID ARNER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • JASON BRANCH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • SANDY BURNEY

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • STEVE GEDDES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • CINDY SALLOUM

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • FRANK THACH

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • AMANDA CHOSEWOOD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • DEBBIE SMITH

    CEO

    Total calculated
    $1,530,992
    From this org
    $1,487,695
    From related orgs
    $0
    Other
    $43,297
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $535,733
    Bonus
    $359,942
    Other
    $592,020
    Deferred
    $34,500
    Nontaxable benefits
    $8,797
    Filer's total
    $1,530,992

  • LAURA KING

    PRESIDENT

    Total calculated
    $993,849
    From this org
    $773,119
    From related orgs
    $0
    Other
    $220,730
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $462,340
    Bonus
    $209,100
    Other
    $101,679
    Deferred
    $203,460
    Nontaxable benefits
    $17,270
    Filer's total
    $993,849

  • ROBERT BOGART

    EVP-CFO

    Total calculated
    $812,626
    From this org
    $581,259
    From related orgs
    $0
    Other
    $231,367
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $400,727
    Bonus
    $140,528
    Other
    $40,004
    Deferred
    $223,685
    Nontaxable benefits
    $7,682
    Filer's total
    $812,626

  • THOMAS BARTHOLOMEW

    EVP-CIO

    Total calculated
    $816,169
    From this org
    $570,251
    From related orgs
    $0
    Other
    $245,918
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $391,782
    Bonus
    $140,528
    Other
    $37,941
    Deferred
    $223,685
    Nontaxable benefits
    $22,233
    Filer's total
    $816,169

  • MICHAEL LONDON

    CSO

    Total calculated
    $524,205
    From this org
    $501,790
    From related orgs
    $0
    Other
    $22,415
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $85,075
    Bonus
    $110,700
    Other
    $306,015
    Deferred
    $17,301
    Nontaxable benefits
    $5,114
    Filer's total
    $524,205

  • STEPHANIE WALKER

    COO

    Total calculated
    $882,645
    From this org
    $828,040
    From related orgs
    $0
    Other
    $54,605
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $290,560
    Bonus
    $107,010
    Other
    $430,470
    Deferred
    $34,500
    Nontaxable benefits
    $20,105
    Filer's total
    $882,645

  • CAROLINA KING

    CPO

    Total calculated
    $564,688
    From this org
    $392,548
    From related orgs
    $0
    Other
    $172,140
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $278,373
    Bonus
    $95,940
    Other
    $18,235
    Deferred
    $150,168
    Nontaxable benefits
    $21,972
    Filer's total
    $564,688

  • TODD LAMBRIGHT

    CHIEF EXPERIENCE OFFICER

    Total calculated
    $554,341
    From this org
    $409,278
    From related orgs
    $0
    Other
    $145,063
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $304,902
    Bonus
    $87,946
    Other
    $16,430
    Deferred
    $144,153
    Nontaxable benefits
    $910
    Filer's total
    $554,341

  • DAVID A MARLOWE

    CHIEF STRATEGY OFFICER

    Total calculated
    $285,103
    From this org
    $189,882
    From related orgs
    $0
    Other
    $95,221
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $189,517
    Bonus
    $0
    Other
    $365
    Deferred
    $74,769
    Nontaxable benefits
    $20,452
    Filer's total
    $285,103

  • JANIS W JOHNSON

    CHIEF LEGAL COUNSEL

    Total calculated
    $410,274
    From this org
    $295,616
    From related orgs
    $0
    Other
    $114,658
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $269,131
    Bonus
    $23,847
    Other
    $2,638
    Deferred
    $105,861
    Nontaxable benefits
    $8,797
    Filer's total
    $410,274

  • SOPHIA ROLLINS

    SVP RISK MANAGEMENT

    Total calculated
    $354,837
    From this org
    $270,828
    From related orgs
    $0
    Other
    $84,009
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $200,256
    Bonus
    $59,963
    Other
    $10,609
    Deferred
    $67,168
    Nontaxable benefits
    $16,841
    Filer's total
    $354,837

  • ROBERT HUTCHINSON

    SVP INFORMATION SYSTEMS

    Total calculated
    $336,780
    From this org
    $261,952
    From related orgs
    $0
    Other
    $74,828
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $201,252
    Bonus
    $59,963
    Other
    $737
    Deferred
    $66,031
    Nontaxable benefits
    $8,797
    Filer's total
    $336,780

  • CYNTHIA CONNELLY

    SVP GOVT AFFAIRS & OUTREACH

    Total calculated
    $311,313
    From this org
    $279,663
    From related orgs
    $0
    Other
    $31,650
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $179,935
    Bonus
    $54,028
    Other
    $45,700
    Deferred
    $22,108
    Nontaxable benefits
    $9,542
    Filer's total
    $311,313

  • MELINDA GREENLAND

    SVP PEOPLE & DEVELOPMENT

    Total calculated
    $350,972
    From this org
    $274,995
    From related orgs
    $0
    Other
    $75,977
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $199,745
    Bonus
    $58,425
    Other
    $16,825
    Deferred
    $67,368
    Nontaxable benefits
    $8,609
    Filer's total
    $350,972

  • ANTHONY FRAZIER

    SVP NETWORK INFRASTRUCTURE

    Total calculated
    $344,170
    From this org
    $271,099
    From related orgs
    $0
    Other
    $73,071
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $203,607
    Bonus
    $47,164
    Other
    $20,328
    Deferred
    $65,418
    Nontaxable benefits
    $7,653
    Filer's total
    $344,170

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 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 3
CEO COMPENSATION IS REVIEWED BY THE BOARD OF DIRECTORS COMPENSATION COMMITTEE, WHICH IS APPROVED BY THE FULL BOARD OF DIRECTORS. A SURVEY OF COMPARABLE COMPENSATION IS USED TO SET COMPENSATION. A WRITTEN EMPLOYMENT AGREEMENT IS USED. COMPENSATION OF OTHER OFFICERS IS REVIEWED BY CEO AND APPROPRIATE MANAGEMENT USING MARKET INFORMATION OBTAINED FOR COMPARABLE POSITIONS AS A GUIDE.
PART I, LINES 4A-B
THE FOLLOWING EMPLOYEES RECEIVED SEVERANCE PAYMENTS FROM THE CREDIT UNION IN 2024: MICHAEL LONDON - $100,000 MICHELLE DOBBINS - $58,462 THE FOLLOWING INDIVIDUALS PARTICIPATED IN A 457(F) NON-QUALIFIED PENSION PLAN AND RECEIVED DISTRIBUTIONS IN 2024: DEBORAH SMITH - $396,210 STEPHANIE WALKER - $422,437 LAURA KING - $100,000 CYNTHIA CONNELLY - $33,909

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
13 November 2025
IRS schema version
2024v5.2
Source object
202513199349301421

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