ALABAMA CREDIT UNION (EIN 630440014) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1956

Legal Domicile

Principal Officer

STEPHEN K SWOFFORD

Phone

2054695944

Tax Period

2023-01-01 to 2023-12-31

ALABAMA CREDIT UNION, founded in 1956, is a mid-sized nonprofit that reported $43.7M in total revenue in fiscal year 2018. Revenue grew 20% year-over-year, indicating healthy expansion. Expenses of $38.5M left a modest 12% surplus.

Mission

TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $74,325,249

Investment Income $7,434,355

Other Revenue $24,503,973

TOTAL REVENUE $106,263,577

Expense Breakdown

Grants Paid $21,000

Salaries & Benefits $26,073,514

Fundraising Expenses $0

Other Expenses $75,286,843

TOTAL EXPENSES $101,381,357

Year-over-Year Comparison

	2023	2022	Change
Revenue	$106,263,577	$76,294,666	+0.4%
Expenses	$101,381,357	$63,024,332	+0.6%
Net Income	$4,882,220	$13,270,334	-0.6%

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

477

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

$3,537,473

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
REBA ESSARY	DIRECTOR	1.00	Director	$0	$0	$0
CASEY TAYLOR	SECRETARY/TREASURER	1.00	Director	$0	$0	$0
CHARLOTTE HARRIS	DIRECTOR	1.00	Director	$0	$0	$0
LYNNE APRIL	BOARD VICE CHAIRPERSON	1.00	Director	$0	$0	$0
MARK NELSON	DIRECTOR	1.00	Director	$0	$0	$0
MARCUS JONES	DIRECTOR	1.00	Director	$0	$0	$0
THOMAS WEST	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT RILEY	DIRECTOR	1.00	Director	$0	$0	$0
RON DULEK	BOARD CHAIRPERSON	1.00	Director	$0	$0	$0
LISA EVANS	DIRECTOR	1.00	Director	$0	$0	$0
TONY JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL GOODMAN	CIO	45.00	Officer	$333,467	$35,154	$368,621
JUNE LANDRUM	INTERIM CEO/ PRESIDENT	45.00	Officer	$323,346	$27,627	$350,973
JIM PENNINGTON	VP, COLLECTIONS	45.00	Officer	$225,438	$25,544	$250,982
STEPHEN K SWOFFORD	CEO	60.00	Officer	$589,817	$54,234	$644,051
ELEANOR BROWN	CFO	45.00	Officer	$303,289	$28,080	$331,369
MICHAEL R SHULTS	VP OF INFORMATION SYSTEMS	45.00	Officer	$280,905	$27,349	$308,254
BENSON P BOLLING	CHIEF LENDING OFFICER	55.00	Officer	$317,407	$26,234	$343,641
BRANDI MCKINNEY	VP-HUMAN RESOURCES & COMPLIANCE	55.00	Officer	$205,002	$21,497	$226,499
TOMMY COBB	CHIEF DEVELOPMENT OFFICER	45.00	Officer	$474,748	$26,716	$501,464
KELLEY PORTER	VP MEMBER EXPERIENCE	45.00	Officer	$193,549	$18,070	$211,619
JOSEPH HARDY	MANAGER OF OUTSIDE SALES	45.00	Highest	$210,569	$25,271	$235,840
ELIZABETH COLE	AVP, AREA BRANCH OPERATIONS	45.00	Highest	$226,453	$23,198	$249,651
JENNIFER BROWNING	ACUIS PROGRAM MANAGER	45.00	Highest	$185,449	$24,156	$209,605
AJAYKUMAR GUPTA	AVP OF NETWORK ADMINISTRATION	45.00	Highest	$166,445	$21,775	$188,220
JOHN EDINGTON	COMMERCIAL LENDING MANAGER	45.00	Highest	$145,440	$22,459	$167,899

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	$106,263,577	$101,381,357	$1,922,294,287	$4,882,220
2022	$76,294,666	$63,024,332	$1,640,689,087	$13,270,334
2021	$57,798,045	$47,077,943	$1,400,922,106	$10,720,102
2020	$49,302,098	$44,076,231	$1,170,483,591	$5,225,867
2019	$48,611,443	$43,225,495	$939,530,884	$5,385,948
2018	$43,738,378	$38,495,221	$876,272,368	$5,243,157

ALABAMA CREDIT UNION