APCO EMPLOYEES 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

1953

Legal Domicile

Principal Officer

BLANE MINK

Phone

2052266800

Tax Period

2023-01-01 to 2023-12-31

APCO EMPLOYEES CREDIT UNION, founded in 1953, is a major nonprofit that reported $118.3M in total revenue in fiscal year 2023. Revenue surged 34% from the prior year, signaling strong growth momentum. Expenses of $101.0M left a modest 15% surplus.

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

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. APCO EMPLOYEES CREDIT UNION,AN ALABAMA STATE CHARTERED CREDIT UNION, WAS ESTABLISHED TO PROVIDE THESE SERVICES TO ITS MEMBERS WHO ARE EMPLOYEES AND THEIR RELATIVES OF ALABAMA POWER COMPANY. THE CREDIT UNION'S MEMBERSHIP ALSO INCLUDES AFFILIATES OF ALABAMA POWER AND SELECTED EMPLOYEE GROUPS WITHIN THE REGION. AS OF DECEMBER 31, 2023, THE CREDIT UNION HAD MEMBERSHIP AND PROVIDED SERVICES TO APPROXIMATELY 87,096 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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $118,347,236

Investment Income $0

Other Revenue $0

TOTAL REVENUE $118,347,236

Expense Breakdown

Grants Paid $53,775

Salaries & Benefits $17,324,305

Fundraising Expenses $0

Other Expenses $83,620,615

TOTAL EXPENSES $100,998,695

Year-over-Year Comparison

	2023	2022	Change
Revenue	$118,347,236	$88,615,377	+0.3%
Expenses	$100,998,695	$62,410,992	+0.6%
Net Income	$17,348,541	$26,204,385	-0.3%

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

217

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

$5,879,545

Total Directors

$62,827

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN VALEKIS	DIRECTOR - TREASURER	1.00	Director	$1,754	$0	$1,754
WENDELL PATE	DIRECTOR	1.00	Director	$3,256	$0	$3,256
GREG BASS	SUPERVISORY COMMITTEE CHAIR	1.00	Director	$4,851	$0	$4,851
CARLTON STEPHENS	DIRECTOR	1.00	Director	$6,016	$0	$6,016
GREGG SHIPP	DIRECTOR - VICE CHAIRPERSON	1.00	Director	$4,817	$0	$4,817
ROBERT B ROY	DIRECTOR	1.00	Director	$7,162	$0	$7,162
MARK WILKINSON	DIRECTOR - CHAIRPERSON	1.00	Director	$1,805	$0	$1,805
ANN WILKINSON	SUPERVISORY COMMITTEE	1.00	Director	$1,718	$0	$1,718
ALLISON BOONE	DIRECTOR	1.00	Director	$8,471	$0	$8,471
CELIA YATES	DIRECTOR - SECRETARY	1.00	Director	$6,351	$0	$6,351
CARISSA LEDBETTER	SUPERVISORY COMMITTEE	1.00	Director	$6,280	$0	$6,280
DAN BLALOCK	DIRECTOR	1.00	Director	$10,346	$0	$10,346
DERRICK RAGLAND	CEO	40.00	Officer	$4,573,446	$38,051	$4,611,497
BLANE MINK	CFO/VP	40.00	Officer	$459,827	$280,645	$740,472
ANDY RUSH	COO	40.00	Officer	$373,569	$154,007	$527,576
ANGELA WRIGHT	IT MANAGER	40.00	Highest	$240,893	$132,106	$372,999
DANNA HORNE	ADMIN MANAGER	40.00	Highest	$167,861	$142,974	$310,835
JACOB JULIAN	COMPTROLLER	40.00	Highest	$195,908	$94,531	$290,439
PRESTON HOLDER	LENDING MANAGER	40.00	Highest	$144,992	$65,887	$210,879
JONATHAN CANTRELL	LOAN OFFICER	40.00	Highest	$142,216	$30,914	$173,130
DAVID A MARLOWE	FORMER COO OF POWERCO	40.00		$160,184	$0	$160,184
MARCIA E TIDMORE	FORMER CFO OF POWERCO	40.00		$149,390	$0	$149,390

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	No data	No data	No data	No data
2023	$118,347,236	$100,998,695	$3,501,472,069	$17,348,541
2022	$88,615,377	$62,410,992	$3,420,389,538	$26,204,385
2021	$74,996,749	$53,186,389	$3,681,543,052	$21,810,360
2020	$76,503,998	$56,771,594	$3,376,053,353	$19,732,404
2019	$87,214,671	$61,192,307	$3,006,802,231	$26,022,364
2018	$82,398,540	$56,912,477	$2,863,040,688	$25,486,063