Alatrust Credit Union

Not tax-deductible

Hoover, ALMutual-benefit / member-servingSince 1935EIN 63-0021787Revenue $12.0M in FY2025

On file with the IRSalatrustcu.com1810 Merchants Dr, 35244-1005 · Hoover, ALTax-exempt since Jun 1970

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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.

100¢ of each $1 spent went to programs.
Run by 8 volunteers and 42 employees.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $1.7M a year · 18% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$813K
to officers and key staff · 8% of spending
Looks good: pay to officers and key staff is 8% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
23 mo
of spending, in cash
Looks good: 23.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$189.4M
89% of total assets
Concern: liabilities are 89% of assets; over 80%.
Pt X · Ln 26
Independent board members
5
of 6 voting members
Looks good: 5 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$12.0M
+5% vs prior year
Spent
$10.2M
To programs
100%
Net assets
$23.8M
By yearFY2020–FY2025
Revenue
$12.0M
FY2025▲ +5%
Tap a bar for its year
Revenue by fiscal year
FY2020$6.7M
FY2021$7.0M
FY2022$8.5M
FY2023$9.9M
FY2024$11.4M
FY2025$12.0M
Expenses
$10.2M
FY2025▲ +6%
Tap a bar for its year
Expenses by fiscal year
FY2020$5.7M
FY2021$5.7M
FY2022$6.1M
FY2023$8.0M
FY2024$9.6M
FY2025$10.2M
Net assets
$23.8M
FY2025▲ +23%
Tap a bar for its year
Net assets by fiscal year
FY2020$20.7M
FY2021$21.7M
FY2022$14.4M
FY2023$16.2M
FY2024$19.3M
FY2025$23.8M

From the FY2025 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1970.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $10.2M

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

12 people listed on the 990; $813K paid to officers and key staff.

Part VII, Section A · reportable compensation
CEO & Board Treasurer
$386,640Pt VII · Sec A
VP of Administration
$185,926Pt VII · Sec A
Loan Manager
$127,149Pt VII · Sec A
Accounting Manager
$113,112Pt VII · Sec A
$0Pt VII · Sec A
Supervisory Committee Chairperson
$0Pt VII · Sec A
Supervisory Committee Member
$0Pt VII · Sec A
Supervisory Committee Member
$0Pt VII · Sec A

Compensation history total reportable pay by year · 5 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
George S Steve Nix$386,640$367,874$333,966———
Steve Nix———$291,951$276,890$275,516
Shelley McLaughlin$185,926$164,157$133,746$115,390$103,335—
Kevin Lott$127,149$118,917$108,191$102,730——
Michelle Crumbley$113,112$99,667$84,981$76,922$70,226—

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.

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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

Programs and updates

Alatrust Credit Union is a member-serving organization based in Hoover, AL, formed in 1935.

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1 program · $10.2M · in their own filed words · FY2025
01

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.

$10.2Mprogram expense

Funders

Who pays for it.

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

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$12.0M
Ln 12
Fees for servicesLn 2g$12.0M
Money outPt IX
$10.2M
Ln 25
Programscol B$10.2M
Owns and owesPt X
$23.8M
net assets · Ln 32
Cash and savingsLn 1–2$19.7M
Total assetsLn 16$213.2M
LiabilitiesLn 26$189.4M
PeoplePt VI, VII
12
listed · VII A
PaidVII A4
Voting boardVI 1a6
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$12.0M
Total revenueLn 12$12.0M
Assets in detailPt X, end of year
CashLn 1$1.7M
SavingsLn 2$18.1M
Cash and savings togetherLn 1–2$19.7M
InvestmentsLn 11–13$63.0M
Land, buildings, equipmentLn 10c$4.4M
Other assetsLn 15$7.6M
Total assetsLn 16$213.2M
LiabilitiesLn 26$189.4M
Net assetsLn 32$23.8M
OperationsPt I, VI
EmployeesI 542
VolunteersI 68
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$18.1M$19.7M
InvestmentsLn 11–13$61.3M$63.0M
Land, buildings, equipmentLn 10c$4.4M$4.4M
Total assetsLn 16$202.1M$213.2M
LiabilitiesLn 26$182.8M$189.4M
Net assetsLn 32$19.3M$23.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$604K
Other salaries and wagesLn 7$2.0M
Pension plan contributionsLn 8−$82K
Other employee benefitsLn 9$248K
Payroll taxesLn 10$175K
Legal feesLn 11b$15K
Accounting feesLn 11c$71K
Advertising and promotionLn 12$425K
Office expensesLn 13$154K
OccupancyLn 16$417K
TravelLn 17$27K
Depreciation, depletion and amortizationLn 22$223K
InsuranceLn 23$86K
Other expenses (24a–d)Ln 24$5.9M
All other expensesLn 24e$6K
Total functional expensesLn 25$10.2M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $12.0M$10.2M$1.8M$23.8M 990 PDF
FY2024 $11.4M$9.6M$1.8M$19.3M 990 PDF
FY2023 $9.9M$8.0M$1.9M$16.2M 990 PDF
FY2022 $8.5M$6.1M$2.3M$14.4M 990 PDF
FY2021 $7.0M$5.7M$1.2M$21.7M 990 PDF
FY2020 $6.7M$5.7M$973K$20.7M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2025 990 (6 parts)
Part I · Summary $12,023,741 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $11,426,984$12,023,741
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $11,426,984$12,023,741
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $2,814,675$2,906,417
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $6,826,922$7,280,935
I-18 Total expensesPrior year $9,641,597$10,187,352
I-19 Revenue less expensesPrior year $1,785,387$1,836,389
Part VI · Governance 5 of 6 board members independent, 2 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members5
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $12,023,741 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $11,971,083 · Unrelated business $52,658$12,023,741
VIII-12 Total revenueRelated to mission $11,971,083 · Unrelated business $52,658 · Excluded from tax $0$12,023,741
Part IX · Statement of functional expenses $10,187,352 across 15 lines filed
IX-5 Pay of current officers, directors and key staff$604,095
IX-7 Other salaries and wages$1,961,741
IX-8 Pension plan contributions−$82,179
IX-9 Other employee benefits$248,201
IX-10 Payroll taxes$174,559
IX-11b Legal fees$14,550
IX-11c Accounting fees$71,019
IX-12 Advertising and promotion$424,940
IX-13 Office expenses$154,241
IX-16 Occupancy$416,553
IX-17 Travel$26,995
IX-22 Depreciation, depletion and amortization$222,797
IX-23 Insurance$86,354
IX-24 Other expenses (24a–d)$5,857,418
IX-24e All other expenses$6,068
IX-25 Total functional expenses$10,187,352
Part X · Balance sheet $213,231,947 assets, 12 lines filed
Asset lines not itemized here account for $117,875,068; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $2,111,242$1,686,007
X-2 Savings and temporary cash investmentsStart of year $16,037,814$18,062,543
X-9 Prepaid expenses and deferred chargesStart of year $771,271$695,006
X-10c Land, buildings and equipment, netStart of year $4,387,971$4,357,645
X-13 Program-related investmentsStart of year $61,275,784$62,971,485
X-15 Other assetsStart of year $7,106,359$7,584,193
X-16 Total assetsStart of year $202,055,003$213,231,947
X-17 Accounts payable and accrued expensesStart of year $894,695$1,037,322
X-25 Other liabilitiesStart of year $179,059,763$186,855,970
X-26 Total liabilitiesStart of year $182,764,887$189,447,515
X-32 Total net assets or fund balancesStart of year $19,290,116$23,784,432
X-33 Total liabilities and net assetsStart of year $202,055,003$213,231,947
Part XI · Reconciliation of net assets $23,784,432 net assets at year end
XI-1 Total revenue$12,023,741
XI-2 Total expenses$10,187,352
XI-3 Revenue less expenses$1,836,389
XI-4 Net assets at start of year$19,290,116
XI-5 Net unrealized gains (losses) on investments$2,641,367
XI-9 Other changes in net assets$16,560
XI-10 Net assets at end of year$23,784,432

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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