Credit Unions Of Alabama

Organization Overview

Credit Unions Of Alabama is located in Tuscaloosa, AL. The organization was established in 1941. 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 12/2021, Credit Unions Of Alabama employed 396 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Credit Unions Of Alabama 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 12/2021, Credit Unions Of Alabama generated $57.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.4% each year. All expenses for the organization totaled $47.1m during the year ending 12/2021. While expenses have increased by 9.9% per year over the past 7 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

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS

Describe the Organization's Program Activity:

Part 3 - Line 4a

112,684 MEMBERS SERVED TO PROMOTE THRIFT OPPORTUNITIES AND LOW COST LOANS


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Board, Officers & Key Employees

Name (title)Compensation
Stephen K Swofford
Ceo/president
$433,808
Tommy Cobb
Senior VP Of Branch Operat
$214,109
Michael Goodman
Cio
$210,267
Benson P Bolling
Chief Lending Officer
$182,344
Eleanor Brown
CFO
$181,514
June Landrum
Avp, Branch Operations
$161,704

Outside Vendors & Contractors

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Telecommunications
$812,753
Fiserv
Payment And Fintech Provider
$1,219,035
M2 The Agency
Advertising
$617,307
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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$33,988,762
Investment income $4,885,788
Tax Exempt Bond Proceeds $0
Royalties $606,011
Net Rental Income $31,500
Net Gain/Loss on Asset Sales $279,200
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $57,798,045

Grants Recieved

Over the last fiscal year, we have identified 2 grants that Credit Unions Of Alabama has recieved totaling $32,250.

Awarding OrganizationAmount
National Credit Union Foundation Inc

Madison, WI

PURPOSE: START AT HOME

$16,125
National Credit Union Foundation Inc

Madison, WI

PURPOSE: START AT HOME

$16,125
View Grant Recipient Profile

Peer Organizations

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