Skip to content
Nonprofiteer
← AUBURN UNIVERSITY CREDIT UNION

Form 990 for tax year 2024

Filed by AUBURN UNIVERSITY CREDIT UNION.

Totals

Total revenue
$11,945,981
Total expenses
$11,066,963
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$7,320,212
Investment income
$2,992,951
Other revenue
$1,632,818
Total assets, end of year
$242,567,364
Total liabilities, end of year
$224,794,410
Net assets or fund balances, end of year
$17,772,954
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 INCOME

    total $7,320,212 · related or exempt $7,320,212

  • 3 · Investment income

    total $2,992,951 · excluded $2,992,951

  • 11a · Other revenue: NSF AND LATE CHARGES

    total $884,813 · related or exempt $884,813

  • 11b · Other revenue: INTERCHANGE INCOME

    total $558,016 · related or exempt $558,016

  • 11c · Other revenue: FEES AND SERVICE CHARGES

    total $180,489 · related or exempt $180,489

  • 11d · All other revenue

    total $9,500 · unrelated business $9,500

  • 11e · Other revenue, total

    $1,632,818

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $901,492

  • 7 · Other salaries and wages

    total $1,650,455

  • 8 · Pension plan contributions

    total $46,582

  • 9 · Other employee benefits

    total $359,540

  • 10 · Payroll taxes

    total $166,554

  • 11b · Fees: legal

    total $22,838

  • 11g · Fees: other

    total $763,433

  • 12 · Advertising and promotion

    total $247,624

  • 13 · Office expenses

    total $401,189

  • 16 · Occupancy

    total $92,773

  • 17 · Travel

    total $34,551

  • 19 · Conferences, conventions and meetings

    total $1,281

  • 20 · Interest

    total $3,357,233

  • 22 · Depreciation, depletion and amortization

    total $437,760

  • 23 · Insurance

    total $66,172

  • 24a · Other expenses: LOAN SERVICING

    total $910,540

  • 24b · Other expenses: PROVISION FOR LOAN LOSS

    total $528,324

  • 24c · Other expenses: ATM EXPENSES

    total $401,761

  • 24d · Other expenses: REPAIRS AND MAINTENANCE

    total $162,471

  • 24e · All other expenses

    total $514,390

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,966,159 · end of year $3,014,740

  • 2 · Savings and temporary cash investments

    beginning of year $30,340,791 · end of year $26,136,192

  • 5 · Loans and receivables from officers and key people

    beginning of year $2,700,000 · end of year $2,700,000

  • 7 · Other notes and loans receivable

    beginning of year $112,907,584 · end of year $123,533,116

  • 9 · Prepaid expenses and deferred charges

    beginning of year $260,458 · end of year $257,053

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

    $15,733,255

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

    $6,652,252

  • 10c · Land, buildings and equipment, net

    beginning of year $9,264,603 · end of year $9,081,003

  • 11 · Investments: publicly traded securities

    beginning of year $69,354,918 · end of year $63,778,795

  • 12 · Investments: other securities

    beginning of year $6,399,706 · end of year $5,981,191

  • 15 · Other assets

    beginning of year $7,999,344 · end of year $8,085,274

  • 17 · Accounts payable and accrued expenses

    beginning of year $985,815 · end of year $2,319,314

  • 25 · Other liabilities

    beginning of year $226,944,964 · end of year $222,475,096

  • 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 $15,262,784 · end of year $17,772,954

Mission and programs · 2024

Mission

THE MISSION OF AUBURN UNIVERSITY CREDIT UNION IS THREE-FOLD: TO PROVIDE ITS MEMBERS FINANCIAL SERVICES, PRIMARILY SAVINGS AND LOAN OPPORTUNITIES, TO INVEST MEMBER SAVINGS, AND TO PROMOTE SOUND MONEY MANAGEMENT AMONG ITS MEMBERS.

  • IN AN EFFORT TO PROVIDE OUR MEMBERS FINANCIAL SERVICES, THE CREDIT UNION PROVIDES COMPETITIVE SAVINGS PRODUCTS WHICH INCLUDE SAVINGS, CHECKING, CERTIFICATE OF DEPOSIT ACCOUNTS, IRA SAVINGS AND CERTIFICATE OF DEPOSIT ACCOUNTS.

  • TO MEET THE LENDING NEEDS OF ITS MEMBERS, THE CREDIT UNION OFFERS A VARIETY OF CONSUMER AND MORTGAGE LOAN PRODUCTS AT COMPETITIVE RATES OF INTEREST.

  • THE CREDIT UNION OFFERS FINANCIAL SERVICES TO THE BENEFIT OF ITS MEMBERS WHICH INCLUDE INTERNET BANKING, ONLINE BILL PAY, REMOTE DEPOSIT CAPTURE AND FI TO FI TRANSFERS.

As filed on the 2024 return.

Listed in Part VII

  • Henry H Armstrong

    PRESIDENT AND CEO/TREAS.

    Total calculated
    $636,025
    From this org
    $521,775
    From related orgs
    $0
    Other
    $114,250
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $330,869
    Bonus
    $190,906
    Other
    $0
    Deferred
    $101,998
    Nontaxable benefits
    $12,252
    Filer's total
    $636,025

  • Duane Brandon

    ASST. SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Dennis Veronese

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Maryanne Douglass

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Deborah Heidepriem

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Teresa Logiotatos

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Floyd M Woods

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Albert Henry

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Blake Rice

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Curtis Jolly

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Candace B Garner

    CFO

    Total calculated
    $145,439
    From this org
    $133,924
    From related orgs
    $0
    Other
    $11,515
    Hours/week
    40

  • Rustryn Roper

    CLO

    Total calculated
    $120,027
    From this org
    $100,596
    From related orgs
    $0
    Other
    $19,431
    Hours/week
    40

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

  • 1a · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 1A
THE CREDIT UNION WILL COVER EMPLOYEE AND SPOUSE MEALS UP TO $125 PER DAY WHEN TRAVELING FOR CREDIT UNION BUSINESS.
PART I, LINE 4B
IN 2014, THE CREDIT UNION ENTERED INTO A SPLIT-DOLLAR LIFE INSURANCE ARRANGEMENT WITH HENRY ARMSTRONG. THE PREMIUMS ON THE POLICY WERE FUNDED BY THE CREDIT UNION THROUGH LOANS TO THE CEO.

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.

Provenance

Return type
form_990
Tax year
2024
Filed
13 November 2025
IRS schema version
2024v5.2
Source object
202503179349306945

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.