LAUDERDALE COUNTY TEACHERS CREDIT UNION

EIN: 630438963

FLORENCE, AL

Total Revenue
$1,484,832
Total Expenses
$1,199,726
Total Assets
$35,739,390
Net Assets
$4,145,918
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1956
Legal Domicile
AL
Principal Officer
SHERRY FULKS
Phone
2567662936
Tax Period
2024-01-01 to 2024-12-31

LAUDERDALE COUNTY TEACHERS CREDIT UNION, founded in 1956, is a community nonprofit that reported $1.5M in total revenue in fiscal year 2024. Revenue surged 34% from the prior year, signaling strong growth momentum. The organization ran a surplus of $285K, a strong 19% 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

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...

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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. LAUDERDALE COUNTY TEACHERS CREDIT UNION, AN ALABAMA STATE CHARTERED CREDIT UNION, WAS ESTABLISHED TO PROVIDE THESE SERVICES PRIMARILY TO EMPLOYEES AND FAMILY MEMBERS OF THE LAUDERDALE COUNTY SCHOOL SYSTEM. AS OF DECEMBER 31, 2024, THE CREDIT UNION HAD MEMBERSHIP AND PROVIDED SERVICES TO APPROXIMATELY 2,077 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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $1,484,832
Investment Income $0
Other Revenue $0
TOTAL REVENUE $1,484,832

Expense Breakdown

Grants Paid $0
Salaries & Benefits $412,930
Fundraising Expenses $0
Other Expenses $786,796
TOTAL EXPENSES $1,199,726

Year-over-Year Comparison

2024 2023 Change
Revenue $1,484,832 $1,104,401 +0.3%
Expenses $1,199,726 $885,457 +0.4%
Net Income $285,106 $218,944 +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

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Liquidity & Cash Position

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Governance

Voting Members
5
Independent Members
5
Employees
6
Volunteers
11

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
1
$101,649
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ROBERT ALAN TRIMM BOARD CHAIRPERSON 1.00
Director
$0 $0 $0
BETTY FANNIN BOARD TREASURER 1.00
Director
$0 $0 $0
FREDA COLEMAN-REED BOARD VICE CHAIRPERSON 1.00
Director
$0 $0 $0
LIBBY JOHNSON SUPERVISORY COMMITTEE SECR 1.00
Director
$0 $0 $0
ARTHUR REED SUPERVISORY COMMITTEE MEMB 1.00
Director
$0 $0 $0
LINDA QUIGLEY BOARD SECRETARY 1.00
Director
$0 $0 $0
WILLIAM RANDY FANNIN SUPERVISORY COMMITTEE CHAI 1.00
Director
$0 $0 $0
PATRICIA NEAL BOARD MEMBER 1.00
Director
$0 $0 $0
SHERRY FULKS MANAGER 46.00
Officer
$100,311 $1,338 $101,649
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 $1,484,832 $1,199,726 $35,739,390 $285,106
2023 $1,104,401 $885,457 $36,428,586 $218,944
2022 $830,860 $724,355 $36,517,673 $106,505
2021 $735,759 $734,098 $34,423,472 $1,661
2020 $853,725 $991,129 $31,839,022 $-137,404
2019 $968,686 $899,712 $28,784,870 $68,974
2018 $920,233 $789,775 $29,536,354 $130,458
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