ALATRUST CREDIT UNION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1935

Legal Domicile

Principal Officer

STEVE NIX

Phone

2055818800

Tax Period

2024-01-01 to 2024-12-31

ALATRUST CREDIT UNION, founded in 1935, is a mid-sized nonprofit that reported $11.4M in total revenue in fiscal year 2024. Revenue grew 15% year-over-year, indicating healthy expansion. The organization ran a surplus of $1.8M, a strong 16% operating margin.

Mission

COOPERATIVE SOCIETY INCORPORATED FOR THE TWOFOLD PURPOSE OF PROMOTING THRIFT AMONG ITS MEMBERS AND CREATING A SOURCE OF CREDIT FOR THEM AT LEGITIMATE RATES OF INTEREST.

Program Service Accomplishments

Program 1

Expenses: $9,641,597

CODE OF ALABAMA, SEC 5-17-1, STATES THAT A CREDIT UNION IS A COOPERATIVE SOCIETY INCORPORATED FOR THE TWOFOLD PURPOSE OF PROMOTING THRIFT AMONG ITS MEMBERS AND CREATING A SOURCE OF CREDIT FOR THEM AT LEGITIMATE RATES OF INTEREST. ALATRUST CREDIT UNION, AN ALABAMA STATE CHARTERED CREDIT UNION, WAS ESTABLISHED TO PROVIDE A VARIETY OF FINANCIAL SERVICES TO ITS MEMBERS, WHO ARE EMPLOYEES OF THE PUBLIC SCHOOLS LOCATED IN JEFFERSON, CALHOUN, WALKER, AND TALLADEGA COUNTIES AND THEIR RELATIVES. THE CREDIT UNION'S FIELD OF MEMBERSHIP ALSO INCLUDES SELECTED EMPLOYEE GROUPS AND INDIVIDUALS THAT RESIDE IN THESE COUNTIES. AS OF DECEMBER 31, 2024, THE CREDIT UNION HAD MEMBERSHIP AND PROVIDED SERVICES TO APPROXIMATELY 13,039 MEMBERS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $11,426,984

Investment Income $0

Other Revenue $0

TOTAL REVENUE $11,426,984

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,814,675

Fundraising Expenses $0

Program Expenses $9,641,597

Other Expenses $6,826,922

TOTAL EXPENSES $9,641,597

Year-over-Year Comparison

	2024	2023	Change
Revenue	$11,426,984	$9,937,960	+0.1%
Expenses	$9,641,597	$8,033,194	+0.2%
Net Income	$1,785,387	$1,904,766	-0.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$567,326

Total Directors

$450,257

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GEORGE S STEVE NIX	CEO & BOARD TREASURER	40.00	Officer Director	$367,874	$82,383	$450,257
DR BASCOM HENRY WOODWARD RETIRED	FORMER CHAIRMAN	1.00	Director	$0	$0	$0
DONALD DUCK	BOARD CHAIRMAN	1.00	Director	$0	$0	$0
PHILLIP WOODS RETIRED	FORMER VICE CHAIRMAN	1.00	Director	$0	$0	$0
MARTHA WISE	VICE CHAIRMAN	1.00	Director	$0	$0	$0
ALVIN WASHINGTON	DIRECTOR	1.00	Director	$0	$0	$0
DR SIMPSON BERRY JR	SECRETARY	1.00	Director	$0	$0	$0
KEN WASMUND	DIRECTOR	1.00	Director	$0	$0	$0
JOHN ROBERTS	SUPERVISORY COMMITTEE MEMBER	1.00	Director	$0	$0	$0
DR PERRY WARD	SUPERVISORY COMMITTEE MEMBER	1.00	Director	$0	$0	$0
MICHELLE CRUMBLEY	ACCOUNTING MANAGER	40.00	Officer	$99,667	$17,402	$117,069
SHELLEY MCLAUGHLIN	VP OF ADMINISTRATION	40.00	Highest	$164,157	$37,399	$201,556
KEVIN LOTT	LOAN MANAGER	40.00	Highest	$118,917	$33,136	$152,053

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$11,426,984	$9,641,597	$202,055,003	$1,785,387
2023	$9,937,960	$8,033,194	$199,335,118	$1,904,766
2022	$8,462,340	$6,122,684	$187,319,143	$2,339,656
2021	$6,977,892	$5,739,206	$183,851,968	$1,238,686
2020	$6,665,159	$5,691,968	$160,346,083	$973,191
2019	$6,643,637	$5,667,246	$140,643,251	$976,391
2018	$6,181,928	$5,159,772	$135,666,611	$1,022,156