Totals
- Total revenue
- $79,832,389
- Total expenses
- $69,635,277
- Contributions and grants received
- $0
- Grants paid
- $332,820
- Program service revenue
- $54,163,869
- Investment income
- $2,716,089
- Other revenue
- $22,952,431
- Total assets, end of year
- $1,018,202,202
- Total liabilities, end of year
- $935,845,298
- Net assets or fund balances, end of year
- $82,356,904
- 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 $54,163,869 · related or exempt $54,163,869
-
3 · Investment income
total $2,716,089 · excluded $2,716,089
-
11a · Other revenue: SERVICE FEE AND OTHER INCOME
total $8,878,080 · related or exempt $8,878,080
-
11b · Other revenue: INTERCHANGE INCOME
total $7,796,658 · related or exempt $7,796,658
-
11c · Other revenue: COURTESY PAY AND OVERDRAFT CHARGE
total $6,693,124 · related or exempt $6,693,124
-
11d · All other revenue
total -$415,431 · related or exempt -$1,283,571 · unrelated business $868,140
-
11e · Other revenue, total
$22,952,431
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $307,820
-
2 · Grants to domestic individuals
total $25,000
-
5 · Compensation of officers, directors and key employees
total $2,111,898
-
7 · Other salaries and wages
total $15,821,545
-
8 · Pension plan contributions
total $1,114,915
-
9 · Other employee benefits
total $2,305,078
-
10 · Payroll taxes
total $1,254,630
-
11b · Fees: legal
total $173,034
-
11c · Fees: accounting
total $127,764
-
11g · Fees: other
total $178,425
-
12 · Advertising and promotion
total $1,903,980
-
13 · Office expenses
total $1,490,568
-
14 · Information technology
total $3,261,354
-
16 · Occupancy
total $948,882
-
17 · Travel
total $143,612
-
19 · Conferences, conventions and meetings
total $289,747
-
20 · Interest
total $16,986,669
-
22 · Depreciation, depletion and amortization
total $1,004,445
-
23 · Insurance
total $212,328
-
24a · Other expenses: UBI TAX EXPENSE
total $12,970
-
24b · Other expenses: PROVISION FOR LOAN LOSS
total $8,607,291
-
24c · Other expenses: ATM AND DEBIT CARD EXPE
total $7,501,571
-
24d · Other expenses: LOAN SERVICING
total $1,393,391
-
24e · All other expenses
total $2,458,360
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $11,335,027 · end of year $10,250,111
-
2 · Savings and temporary cash investments
beginning of year $45,499,504 · end of year $44,966,398
-
5 · Loans and receivables from officers and key people
beginning of year $10,203,705 · end of year $10,435,210
-
7 · Other notes and loans receivable
beginning of year $690,621,953 · end of year $831,246,153
-
9 · Prepaid expenses and deferred charges
beginning of year $1,287,561 · end of year $2,466,425
-
10a · Land, buildings and equipment: cost or other basis
$40,975,662
-
10b · Land, buildings and equipment: accumulated depreciation
$9,407,583
-
10c · Land, buildings and equipment, net
beginning of year $22,392,736 · end of year $31,568,079
-
11 · Investments: publicly traded securities
beginning of year $63,003,653 · end of year $63,054,719
-
12 · Investments: other securities
beginning of year $7,940,776 · end of year $9,090,014
-
14 · Intangible assets
beginning of year $1,038,864 · end of year $1,037,468
-
15 · Other assets
beginning of year $11,962,349 · end of year $14,087,625
-
17 · Accounts payable and accrued expenses
beginning of year $16,333,542 · end of year $17,377,058
-
23 · Secured mortgages and notes payable
beginning of year $30,000,000 · end of year $68,000,000
-
25 · Other liabilities
beginning of year $747,806,544 · end of year $850,468,240
-
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 $71,146,042 · end of year $82,356,904
Mission and programs · 2023
Mission
COOPERATIVE SOCIETY INCORPORATED FOR THE TWO-FOLD PURPOSE OF PROMOTING THRIFT AMONG ITS MEMBERS AND CREATING A SOURCE OF CREDIT FOR THEM AT LEGITIMATE RATES OF INTEREST.
-
ALABAMA BANKING CODE, SECTION, 5-17-1, STATES THAT A CREDIT UNION IS A COOPERATIVE SOCIETY INCORPORATED FOR THE TWO-FOLD PURPOSE OF PROMOTING THRIFT AMONG ITS MEMBERS AND CREATING A SOURCE OF CREDIT FOR THEM AT LEGITIMATE RATES OF INTEREST. GUARDIAN CREDIT UNION, AN ALABAMA STATE-CHARTERED CREDIT UNION, PROVIDES THESE SERVICES TO ITS MEMBERS WHO ARE PRIMARILY MEMBERS/EMPLOYEES AND THEIR RELATIVES OF THE ALABAMA ARMY AND NATIONAL GUARD, MUNICIPAL EMPLOYEES OF THE CITY OF MONTGOMERY, ALABAMA, AND VARIOUS DEPARTMENTS OF THE STATE OF ALABAMA. THE CREDIT UNION'S FIELD OF MEMBERSHIP ALSO INCLUDES SELECTED EMPLOYEE GROUPS AND IS OPEN TO ALL INDIVIDUALS WHO WORK, WORSHIP, ATTEND SCHOOL OR RESIDE IN AUTAUGA, BUTLER, CHILTON, COOSA, COVINGTON, CRENSHAW, ELMORE, LEE, LOWNDES, MACON, MONTGOMERY, PIKE, RUSSELL, AND TALLAPOOSA COUNTIES. AS OF DECEMBER 31, 2023, THE CREDIT UNION HAD MEMBERSHIP AND PROVIDED SERVICE TO APPROXIMATELY 88,681 MEMBERS.
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Scott KramerSCOTT KRAMER
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1
-
Therman DennisTHERMAN DENNIS
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Rick RoneyRICK RONEY
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
James HenryJAMES HENRY
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Michael BelcherMICHAEL BELCHER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Greta WilliamsGRETA WILLIAMS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Pam NewmanPAM NEWMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Heath HarrellHEATH HARRELL
CEO
- Total calculated
- $682,220
- From this org
- $574,235
- From related orgs
- $0
- Other
- $107,985
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $508,085
- Bonus
- $66,150
- Other
- $0
- Deferred
- $73,385
- Nontaxable benefits
- $34,600
- Filer's total
- $682,220
-
Nikita McClainNIKITA MCCLAIN
CCO
- Total calculated
- $283,086
- From this org
- $238,791
- From related orgs
- $0
- Other
- $44,295
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $213,658
- Bonus
- $25,133
- Other
- $0
- Deferred
- $13,935
- Nontaxable benefits
- $30,360
- Filer's total
- $283,086
-
Joseph RobisonJOSEPH ROBISON
CLO
- Total calculated
- $323,289
- From this org
- $239,499
- From related orgs
- $0
- Other
- $83,790
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $218,605
- Bonus
- $20,894
- Other
- $0
- Deferred
- $49,497
- Nontaxable benefits
- $34,293
- Filer's total
- $323,289
-
Scott RosenSCOTT ROSEN
CTO
- Total calculated
- $295,204
- From this org
- $214,421
- From related orgs
- $0
- Other
- $80,783
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $194,106
- Bonus
- $20,315
- Other
- $0
- Deferred
- $46,994
- Nontaxable benefits
- $33,789
- Filer's total
- $295,204
-
Daniel PostDANIEL POST
CFO
- Total calculated
- $327,061
- From this org
- $236,399
- From related orgs
- $0
- Other
- $90,662
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $215,979
- Bonus
- $20,420
- Other
- $0
- Deferred
- $56,376
- Nontaxable benefits
- $34,286
- Filer's total
- $327,061
-
Rachel StewartRACHEL STEWART
CXP
- Total calculated
- $236,443
- From this org
- $184,297
- From related orgs
- $0
- Other
- $52,146
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $166,833
- Bonus
- $17,464
- Other
- $0
- Deferred
- $17,937
- Nontaxable benefits
- $34,209
- Filer's total
- $236,443
-
Greg GrayGREG GRAY
CSO
- Total calculated
- $35,405
- From this org
- $35,405
- From related orgs
- $0
- Other
- $0
- Hours/week
- 45
-
Becky LeeBECKY LEE
VP RISK
- Total calculated
- $199,498
- From this org
- $139,564
- From related orgs
- $0
- Other
- $59,934
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $117,774
- Bonus
- $21,790
- Other
- $0
- Deferred
- $25,913
- Nontaxable benefits
- $34,021
- Filer's total
- $199,498
-
J Lindsey McDonaldJ LINDSEY MCDONALD
VP HUMAN RESOURCES
- Total calculated
- $231,278
- From this org
- $179,241
- From related orgs
- $0
- Other
- $52,037
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $160,524
- Bonus
- $18,717
- Other
- $0
- Deferred
- $17,864
- Nontaxable benefits
- $34,173
- Filer's total
- $231,278
-
Melodie WrightMELODIE WRIGHT
VP BRANCH OPERATIONS
- Total calculated
- $186,378
- From this org
- $155,470
- From related orgs
- $0
- Other
- $30,908
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $144,379
- Bonus
- $11,091
- Other
- $0
- Deferred
- $15,227
- Nontaxable benefits
- $15,681
- Filer's total
- $186,378
-
Blake CarterBLAKE CARTER
HOME LOANS OPERATIONS MANAGER
- Total calculated
- $164,848
- From this org
- $136,914
- From related orgs
- $0
- Other
- $27,934
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $97,289
- Bonus
- $39,625
- Other
- $0
- Deferred
- $14,054
- Nontaxable benefits
- $13,880
- Filer's total
- $164,848
-
Jeremi ScogginsJEREMI SCOGGINS
AVP DEVELOPMENT
- Total calculated
- $164,814
- From this org
- $136,707
- From related orgs
- $0
- Other
- $28,107
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $125,854
- Bonus
- $10,853
- Other
- $0
- Deferred
- $13,905
- Nontaxable benefits
- $14,202
- Filer's total
- $164,814
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
- 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 4B
- IN 2016, THE CREDIT UNION ENTERED INTO A SECURED SPLIT-DOLLAR LIFE INSURANCE ARRANGEMENT WITH HEATH HARRELL, CEO. THE PREMIUMS ON THE POLICY WERE FUNDED BY THE CREDIT UNION THROUGH LOANS TO THE CEO AND EVP. INTEREST ACCRUES TO THE LOANS MONTHLY. IN 2021, THE CREDIT UNION ENTERED INTO A SECURED SPLIT-DOLLAR LIFE INSURANCE ARRANGEMENT WITH HEATH HARRELL, CEO. THE PREMIUMS ON THE POLICIES WERE FUNDED BY THE CREDIT UNION THROUGH LOANS TO THE CEO AND EVP. INTEREST ACCRUES TO THE LOANS MONTHLY. THE CREDIT UNION HAS SUPPLEMENTAL NON-QUALIFIED DEFERRED COMPENSATION ARRANGEMENTS WITH HEATH HARRELL, BECKY LEE, DAN POST, JOSEPH ROBISON, AND SCOTT ROSEN. THE PLANS ARE DESIGNED TO PROVIDE CASH BENEFITS UPON SPECIFIC VESTING SCHEDULES.
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
-
$165,000
SUPPORT TROY UNIVERSITY FOUNDATION
-
SUPPORT CENTRAL ALABAMA SPORTS COMMISSION
-
GUARDIAN CREDIT UNION FOUNDATION
$40,000
SUPPORT MISSION OF GUARDIAN CREDIT UNION FOUNDATION
-
$25,000
SUPPORT FAULKNER UNIVERSITY
-
$20,320
SUPPORT VALIANT CROSS ACADEMY SCHOOL
-
$7,500
SUPPORT TO END VIOLENCE IN CENTRAL ALABAMA
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.
-
GUARDIAN CREDIT UNION FOUNDATION
501(C)(3) · CHARITABLE AND EDUCATIONAL · AL
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.
-
G ADVERTISING LLC
ADVERTISING AGENCY SERVICES · AL · income $0 · assets $0
Directly controlled by GUARDIAN CREDIT UNION
-
GUARDIAN INSURANCE SERVICES
PROVIDE INSURANCE SERVICES TO MEMBERS · AL · income $253,045 · assets $620,878
Directly controlled by GUARDIAN CREDIT UNION
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 13 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202413199349308131
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