Alabama Rural Electric Credit Union

Organization Overview

Alabama Rural Electric Credit Union is located in Montgomery, AL. The organization was established in 1971. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2019, Alabama Rural Electric Credit Union employed 10 individuals. Alabama Rural Electric Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.

For the year ending 12/2019, Alabama Rural Electric Credit Union generated $1.8m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 7.9% each year. All expenses for the organization totaled $1.6m during the year ending 12/2019. While expenses have increased by 6.8% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2019

Describe the Organization's Mission:

Part 3 - Line 1

CREDIT UNION - TO PROVIDE FINANCIAL SERVICES FOR ITS MEMBERS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE CREDIT UNION PROVIDED A VARIETY OF LOAN SERVICES FOR ITS MEMBERS.


THE CREDIT UNION PROVIDED A VARIETY OF DEPOSIT SERVICES FOR ITS MEMBERS.


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Board, Officers & Key Employees

Name (title)Compensation
Jane J Boysen
President/ce
$33,061
Cecilia Waits
Vice Preside
$15,742
Mike Barlow
Supervisory
$0
Kim Lyles Maye
Supervisory
$0
Kim Carter
Supervisory
$0
Jeff Hodges
Board Chairm
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$1,375,567
Investment income $204,518
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $1,845,551

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