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Nonprofiteer
← MAX CREDIT UNION

Form 990 for tax year 2023

Filed by MAX CREDIT UNION.

Totals

Total revenue
$110,340,417
Total expenses
$84,301,649
Contributions and grants received
$0
Grants paid
$109,048
Program service revenue
$82,730,990
Investment income
$27,609,427
Other revenue
$0
Total assets, end of year
$2,080,252,064
Total liabilities, end of year
$1,900,849,004
Net assets or fund balances, end of year
$179,403,060
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Listed in Part VII

  • A KELLI WISE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • K SUE JACKSON

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • BARBARA T STARR

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • JAMES W SOLZE JR

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • JOHN AVERRETT

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    1

  • LLOYD WOODMAN JR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CARL WHATLEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • GARY TOMLIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JAMES LITTLEJOHN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MARTIN E HEAD

    PRESIDENT/CEO

    Total calculated
    $621,887
    From this org
    $559,994
    From related orgs
    $0
    Other
    $61,893
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $471,286
    Bonus
    $79,759
    Other
    $8,949
    Deferred
    $33,000
    Nontaxable benefits
    $28,893
    Filer's total
    $621,887

  • TIMOTHY MARQUARDT

    CHIEF FINANCIAL OFFICER

    Total calculated
    $345,379
    From this org
    $296,664
    From related orgs
    $0
    Other
    $48,715
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $254,664
    Bonus
    $42,000
    Other
    $0
    Deferred
    $24,620
    Nontaxable benefits
    $24,095
    Filer's total
    $345,379

  • MIKE HART

    EVP CHIEF OPERATIONS OFFICER

    Total calculated
    $295,195
    From this org
    $260,204
    From related orgs
    $0
    Other
    $34,991
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $240,204
    Bonus
    $20,000
    Other
    $0
    Deferred
    $8,499
    Nontaxable benefits
    $26,492
    Filer's total
    $295,195

  • LYNETTE CUPPS

    CHIEF GROWTH OFFICER

    Total calculated
    $227,520
    From this org
    $185,818
    From related orgs
    $0
    Other
    $41,702
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $159,318
    Bonus
    $26,500
    Other
    $0
    Deferred
    $15,481
    Nontaxable benefits
    $26,221
    Filer's total
    $227,520

  • CLINTON DALE WATKINS

    CHIEF INFORMATION OFFICER

    Total calculated
    $334,651
    From this org
    $286,218
    From related orgs
    $0
    Other
    $48,433
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $247,718
    Bonus
    $38,500
    Other
    $0
    Deferred
    $20,683
    Nontaxable benefits
    $27,750
    Filer's total
    $334,651

  • CHERYL PAYSON

    CHIEF OPTNS EXCEL OFFICER

    Total calculated
    $309,753
    From this org
    $264,614
    From related orgs
    $0
    Other
    $45,139
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $224,436
    Bonus
    $36,000
    Other
    $4,178
    Deferred
    $22,133
    Nontaxable benefits
    $23,006
    Filer's total
    $309,753

  • SANDRA BRANCH

    CHIEF TALENT OFFICER

    Total calculated
    $281,708
    From this org
    $233,128
    From related orgs
    $0
    Other
    $48,580
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $199,128
    Bonus
    $34,000
    Other
    $0
    Deferred
    $19,588
    Nontaxable benefits
    $28,992
    Filer's total
    $281,708

  • WENDY ANDERSON

    CHIEF LENDING OFFICER

    Total calculated
    $263,376
    From this org
    $220,088
    From related orgs
    $0
    Other
    $43,288
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $186,049
    Bonus
    $30,500
    Other
    $3,539
    Deferred
    $18,693
    Nontaxable benefits
    $24,595
    Filer's total
    $263,376

  • RON CREEL

    SVP BUSINESS SERVICES

    Total calculated
    $287,059
    From this org
    $241,957
    From related orgs
    $0
    Other
    $45,102
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $211,559
    Bonus
    $27,000
    Other
    $3,398
    Deferred
    $17,949
    Nontaxable benefits
    $27,153
    Filer's total
    $287,059

  • KEN PEAVY

    VP WEALTH MANAGEMENT

    Total calculated
    $275,075
    From this org
    $224,594
    From related orgs
    $0
    Other
    $50,481
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $223,540
    Bonus
    $0
    Other
    $1,054
    Deferred
    $22,590
    Nontaxable benefits
    $27,891
    Filer's total
    $275,075

  • ELIZABETH MOSELEY

    VP BUSINESS SERVICES

    Total calculated
    $260,723
    From this org
    $217,548
    From related orgs
    $0
    Other
    $43,175
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $189,548
    Bonus
    $28,000
    Other
    $0
    Deferred
    $14,666
    Nontaxable benefits
    $28,509
    Filer's total
    $260,723

  • WILLIAM EPPERSON

    CHIEF RETAIL OFFICER

    Total calculated
    $256,502
    From this org
    $209,643
    From related orgs
    $0
    Other
    $46,859
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $180,157
    Bonus
    $26,000
    Other
    $3,486
    Deferred
    $18,161
    Nontaxable benefits
    $28,698
    Filer's total
    $256,502

  • SANDRA DOWNING

    WEALTH ADVISOR

    Total calculated
    $254,078
    From this org
    $223,732
    From related orgs
    $0
    Other
    $30,346
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $223,270
    Bonus
    $0
    Other
    $462
    Deferred
    $20,997
    Nontaxable benefits
    $9,349
    Filer's total
    $254,078

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 · 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 MAY REIMBURSE AN OFFICIAL OR EXECUTIVE FOR THE REASONABLE AND PROPER EXPENSES OF ONE GUEST DURING AUTHORIZED BUSINESS TRAVEL. THE TRAVELOR MUST INCLUDE THE GUEST TRAVEL AND THE ESTIMATED GUEST EXPENSES IN EACH REQUEST FOR TRAVEL APPROVAL. FOR 2023, ONLY EXPENSES FOR THE GUEST OF ONE EXECUTIVE (TOTALING $867) WERE REPORTABLE, AND THREE DIRECTORS HAD EXPENSES FOR GUESTS (TOTALING $5,070).
PART I, LINE 4B
DALE WATKINS - PARTICIPATED IN NON-QUALIFIED RETIREMENT PLAN - NO DISTRIBUTIONS IN 2023

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

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.

  • MAX4KIDS FOUNDATION INC

    501(C)(3) · CHARITABLE ACTIVITIES TO SUPPORT KIDS · AL · controlled entity

    Directly controlled by MAX CREDIT UNION

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.

  • MAX SERVICES LLC

    INSURANCE SALES · AL · income $5,067,247 · assets $994,705

    Directly controlled by MAX CREDIT UNION

  • MAX CAPITAL LLC

    EQUIPMENT LEASING · AL · income $154,994 · assets $1,966,455

    Directly controlled by MAX CREDIT UNION

Provenance

Return type
form_990
Tax year
2023
Filed
4 November 2024
IRS schema version
2023v5.1
Source object
202423139349301692

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