Max Credit Union

Not tax-deductible

Montgomery, ALMutual-benefit / member-servingSince 1955Mutual / membership EIN 36-4618706Revenue $123.8M in FY2024Latest return filed Oct 13, 2025

On file with the IRSmymax.comMontgomery, ALTax-exempt since Jun 1971

Claim this org

(tell your story, add context, and more) Claim it free, then get the verified mark for $10,000 a year, plus $10 a year for the ID check.

How does your 990 look to donors? Take the 10-Question Audit

The Credit Union is a cooperative community financial institution which was organized to promote thrift among its members as well as to provide a source of Credit for its members.

Form 990 Part I, line 1, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 36-4618706) · Dispute this line
Run by 15 volunteers and 362 employees.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
The IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
The latest return is for FY2024, 2 tax years back.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $19.1M a year · 20% of revenue · last 5 filings
A surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$3.8M
to officers and key staff · 4% of spending
Pay to officers and key staff is 4% of spending.
Part VII, Section A
18.3 mo
of spending, in cash
Plus $718.0M in investments, Pt X · Ln 11–13
18.3 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $528
1 funder names it on their filings.
Funders’ Sch. I, 990-PF
Liabilities
$1.9B
90% of total assets
Liabilities are 90% of assets.
Pt X · Ln 26
Independent board members
9
of 9 voting members
9 of 9 voting members are independent.
Pt VI · Ln 1a–1b
Revenue
$123.8M
+12% vs prior year
Spent
$100.5M
Net assets
$209.4M
By yearFY2020–FY2024
Revenue
$123.8M
FY2024▲ +12%
Tap a bar for its year
Revenue by fiscal year
FY2020$78.2M
FY2021$76.8M
FY2022$81.3M
FY2023$110.3M
FY2024$123.8M
Expenses
$100.5M
FY2024▲ +19%
Tap a bar for its year
Expenses by fiscal year
FY2020$67.2M
FY2021$60.0M
FY2022$63.0M
FY2023$84.3M
FY2024$100.5M
Net assets
$209.4M
FY2024▲ +17%
Tap a bar for its year
Net assets by fiscal year
FY2020$221.6M
FY2021$217.9M
FY2022$140.1M
FY2023$179.4M
FY2024$209.4M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 1971.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

25 people listed on the 990; $3.8M paid to officers and key staff (Part VII, Section A).

Part VII, Section A · reportable compensation
President/CEO
$662,803Pt VII · Sec A
Chief Financial Officer
$308,014Pt VII · Sec A
EVP Chief Operations Officer
$300,185Pt VII · Sec A
Chief Optns Excel Officer
$274,621Pt VII · Sec A
Market President
$272,813Pt VII · Sec A
Chief Information Officer
$260,944Pt VII · Sec A
Chief Talent Officer
$244,207Pt VII · Sec A
VP Wealth Management
$239,896Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Martin E Head$662,803$559,994$505,566——
Martin Edward Head———$481,088$504,366
Timothy Marquardt$308,014$296,664$279,075——
Mike Hart$300,185$260,204———
Dg Markwell——$292,906$182,988$161,882
Clinton Dale Watkins$260,944$286,218$213,616——
Cheryl Payson$274,621$264,614$249,583$243,096$223,060
Wayne Blackwell——$273,009$265,659$250,058

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Max Credit Union executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Promotes saving and offers loans to its members.

Questions for Max Credit Union

Tap to ask. Max Credit Union sees how many people are interested.

Your first name shows with your question. Max Credit Union answers here, for everyone.

3 programs · in their own filed words · FY2024
01

In our efforts to promote thrift among our members, Max provides competitive savings products, which include savings, checking, andcertificate of deposit accounts as well as ira savings accounts.

Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 36-4618706) · Dispute this line
Pt IX · Ln 25 · col B
02

To meet the financial needs of our members, Max provides a source of Credit by offering a variety of consumer, real estate, and business lending products at reasonable rates of interest.

Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 36-4618706) · Dispute this line
Pt IX · Ln 25 · col B
03

In addition to the savings and lending products we offer, Max provides a variety of other financial services to meet the needs of our members.

Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 36-4618706) · Dispute this line
Pt IX · Ln 25 · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$528
Grants paid · 19 grants · $193K · 2020–2024
River Region United WayAL · FY2024$16,500
Storybrook FarmsAL · FY2024$6,000
River Region United WayAL · FY2023$15,000
Storybook Farm INCAL · FY2023$6,000
River Region United WayAL · FY2022$15,000
River Region United WayAL · FY2022$15,000
River Region United WayAL · FY2021$15,000
Mercy House INCAL · FY2021$10,000
ManeAL · FY2021$5,550
River Region United WayAL · FY2020$12,000
Storybook Farm INCAL · FY2020$10,000
See all 19 grants →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$123.8M
Ln 12
Fees for servicesLn 2g$98.9M
Investment incomeLn 3$24.7M
Other incomeLn 4–11$203K
Money outPt IX
$100.5M
Ln 25
Owns and owesPt X
$209.4M
net assets · Ln 32
Cash and savingsLn 1–2$153.2M
Total assetsLn 16$2.1B
LiabilitiesLn 26$1.9B
PeoplePt VI, VII
25
listed · VII A
PaidVII A14
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$98.9M
Investment incomeLn 3$24.7M
Other incomeLn 4–11$203K
Gains on assetsLn 7$203K
Total revenueLn 12$123.8M
Assets in detailPt X, end of year
CashLn 1$42.9M
SavingsLn 2$110.3M
Cash and savings togetherLn 1–2$153.2M
Accounts receivableLn 4$3.5M
Loans to officers and key peopleLn 5$3.4M
Notes and loans receivableLn 7$1.17B
Prepaid expenses and deferred chargesLn 9$2.6M
Land, buildings, equipmentLn 10c$34.6M
InvestmentsLn 11–13$718.0M
Other assetsLn 15$59.9M
Total assetsLn 16$2.1B
LiabilitiesLn 26$1.9B
Net assetsLn 32$209.4M
OperationsPt I, VI
EmployeesI 5362
VolunteersI 615
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$154.9M$153.2M
InvestmentsLn 11–13$728.7M$718.0M
Land, buildings, equipmentLn 10c$36.1M$34.6M
Total assetsLn 16$2.08B$2.15B
LiabilitiesLn 26$1.90B$1.94B
Net assetsLn 32$179.4M$209.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$90K
Benefits paid to or for membersLn 4$27.5M
Pay of officers and key staff (Part IX, line 5)Ln 5$3.2M
Other salaries and wagesLn 7$20.7M
Pension plan contributionsLn 8$1.5M
Other employee benefitsLn 9$3.7M
Payroll taxesLn 10$1.8M
Legal feesLn 11b$253K
Accounting feesLn 11c$177K
Other fees for servicesLn 11g$2.3M
Advertising and promotionLn 12$1.8M
Office expensesLn 13$19.6M
OccupancyLn 16$1.6M
TravelLn 17$111K
Conferences, conventions and meetingsLn 19$70K
InterestLn 20$476K
Depreciation, depletion and amortizationLn 22$3.3M
Other expenses (24a–d)Ln 24$12.5M
Total functional expensesLn 25$100.5M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest ViewingFiled with the IRS Oct 13, 2025 $123.8M$100.5M$23.3M$209.4M 990 PDF
FY2023Filed with the IRS Nov 8, 2024 $110.3M$84.3M$26.0M$179.4M 990 PDF
FY2022Filed with the IRS Nov 17, 2025 $81.3M$63.0M$18.3M$140.1M 990 PDF
FY2021Filed with the IRS Nov 10, 2022 $76.8M$60.0M$16.8M$217.9M 990 PDF
FY2020Filed with the IRS Nov 8, 2021 $78.2M$67.2M$10.9M$221.6M 990 PDF

Schedules filed Part IV

A · Public support I · Grants J · Pay O · Explanations
See the full FY2024 990
Part I · Summary $123,834,123 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $82,730,990$98,922,948
I-10 Investment incomePrior year $27,609,427$24,911,175
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $110,340,417$123,834,123
I-13 Grants and similar amounts paidPrior year $109,048$89,500
I-14 Benefits paid to membersPrior year $17,151,853$27,451,008
I-15 Salaries and benefitsPrior year $29,475,859$30,850,134
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $37,564,889$42,145,806
I-18 Total expensesPrior year $84,301,649$100,536,448
I-19 Revenue less expensesPrior year $26,038,768$23,297,675
Part VI · Governance 9 of 9 board members independent, 1 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $123,834,123 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $98,185,164 · Unrelated business $737,784$98,922,948
VIII-3 Investment incomeExcluded from tax $24,708,171$24,708,171
VIII-7 Net gain or loss on sales of assetsExcluded from tax $203,004$203,004
VIII-12 Total revenueRelated to mission $98,185,164 · Unrelated business $737,784 · Excluded from tax $24,911,175$123,834,123
Part IX · Statement of functional expenses $100,536,448 across 18 lines filed
IX-1 Grants to domestic organizations$89,500
IX-4 Benefits paid to or for members$27,451,008
IX-5 Pay of officers and key staff (Part IX, line 5)$3,157,152
IX-7 Other salaries and wages$20,701,393
IX-8 Pension plan contributions$1,548,704
IX-9 Other employee benefits$3,679,669
IX-10 Payroll taxes$1,763,216
IX-11b Legal fees$253,225
IX-11c Accounting fees$177,055
IX-11g Other fees for services$2,310,750
IX-12 Advertising and promotion$1,753,409
IX-13 Office expenses$19,551,229
IX-16 Occupancy$1,629,397
IX-17 Travel$111,424
IX-19 Conferences, conventions and meetings$69,506
IX-20 Interest$476,045
IX-22 Depreciation, depletion and amortization$3,294,680
IX-24 Other expenses (24a–d)$12,519,086
IX-25 Total functional expenses$100,536,448
Part X · Balance sheet $2,149,434,453 assets, 21 lines filed
X-1 Cash, non-interest-bearingStart of year $53,823,966$42,869,911
X-2 Savings and temporary cash investmentsStart of year $101,117,748$110,318,395
X-4 Accounts receivableStart of year $7,571,799$3,537,223
X-5 Loans to officers and key peopleStart of year $3,327,554$3,385,453
X-7 Notes and loans receivableStart of year $1,084,200,752$1,174,254,448
X-9 Prepaid expenses and deferred chargesStart of year $2,672,122$2,597,540
X-10c Land, buildings and equipment, netStart of year $36,134,086$34,631,626
X-11 Publicly traded securitiesStart of year $722,187,386$711,197,102
X-12 Other securitiesStart of year $6,466,571$6,785,731
X-15 Other assetsStart of year $62,750,080$59,857,024
X-16 Total assetsStart of year $2,080,252,064$2,149,434,453
X-17 Accounts payable and accrued expensesStart of year $29,782,423$19,536,532
X-21 Escrow or custodial accountsStart of year $951,226$1,315,391
X-23 Secured mortgages and notes payableStart of year $12,000,000$12,000,000
X-25 Other liabilitiesStart of year $1,858,115,355$1,907,227,577
X-26 Total liabilitiesStart of year $1,900,849,004$1,940,079,500
X-29 Capital stock or trust principalStart of year $0$0
X-30 Paid-in or capital surplusStart of year $0$0
X-31 Retained earnings or endowmentStart of year $179,403,060$209,354,953
X-32 Total net assets or fund balancesStart of year $179,403,060$209,354,953
X-33 Total liabilities and net assetsStart of year $2,080,252,064$2,149,434,453
Part XI · Reconciliation of net assets $209,354,953 net assets at year end
XI-1 Total revenue$123,834,123
XI-2 Total expenses$100,536,448
XI-3 Revenue less expenses$23,297,675
XI-4 Net assets at start of year$179,403,060
XI-5 Net unrealized gains (losses) on investments$6,654,218
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$209,354,953

Form 990 e-file FY2024 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File

Similar organizations you could support · Compare with another nonprofit

The names, titles, and financial information shown on this page are reproduced from IRS Form 990 filings, which are public records. More

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown. A filing can only be corrected by the organization filing an amended return with the IRS; the corrected information appears here at our next update.

We publish only information contained in the public IRS filing, and less than the filing contains. Our pages do not display home addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, contact the filing organization or the IRS directly.

All figures come from public IRS Form 990 filings. Comparisons are computed from the filing against similar orgs. They are not a rating.

Featured nonprofit jobs

All nonprofit jobs → · Hiring? Post a job →