2024-05-14T13:57:39-04:00 2023-12-31 202711127 CU AUDIT & COMPLIANCE GROUP 3692 COOLIDGE CT TALLAHASSEE FL 323117890 990 2023-01-01 630476332 RED OAK CREDIT UNION REDO 2057591371 1008 VETERANS MEMORIAL PKWY TUSCALOOSA AL 35404 SHEP LOWERY PRESIDENT/CEO 2057591371 2024-04-05 true SHEP LOWERY 990009999 false AMANDA ONKST P02387288 2054372176 2024-05-14 2023 2023-04-26 12:10:37Z SHEP LOWERY 1008 VETERANS MEMORIAL PKWY TUSCALOOSA AL 35404 2466461 false X WWW.REDOAKCU.COM X CREDIT UNION 1955 AL CREDIT UNION - TO PROVIDE FINANCIAL SERVICES FOR ITS MEMBERS. 6 6 13 9 0 0 1358733 1566548 311743 398435 564180 501478 2234656 2466461 0 0 685212 779351 0 0 1471310 1934707 2156522 2714058 78134 -247597 40895274 43079437 38996686 41238351 1898588 1841086 CREDIT UNION - TO PROVIDE SERVICES TO APPROXIMATELY 4,377 MEMBERS IN THE FORM OF LOANS, SAVINGS, AND OTHER FINANCIAL SERVICES. false false 2429322 THE CREDIT UNION PROVIDED A VARIETY OF LOAN SERVICES FOR ITS MEMBERS. 284736 THE CREDIT UNION PROVIDED A VARIETY OF DEPOSIT SERVICES FOR ITS MEMBERS. 2714058 false false false false false false false false false true true false false true false false false false false false false false false false false false false false true false false false false false false false false false false false false false false true X 761 0 false 13 true false false false false false false false false X 6 6 false false false false true true true true true false true true false true true true true true true true false X SHEP LOWERY 2057591371 1008 VETERANS MEMORIAL PKWY TUSCALOOSA AL 35404 SHEP LOWERY PRESIDENT/CE 40.00 X 130785 0 26500 SUSAN DOWDLE BOARD TREASU 1.00 X 0 0 0 LINDA FORTE BOARD SECRET 1.00 X 0 0 0 BEN HORTON BOARD VICE C 1.00 X 0 0 0 GREGORY MADRID BOARD MEM 1.00 X 0 0 0 SAMMY WATSON BOARD MEM 1.00 X 0 0 0 MICHAEL WILSON BOARD CHAIR 1.00 X 0 0 0 TAMATHA ANTHONY SC MEM 1.00 X 0 0 0 BOBBIE GARNER BOARD MEM 1.00 X 0 0 0 IRIS ROBERTSON SC CHAIR 1.00 X 0 0 0 130785 26500 1 false true false INTEREST ON LOANS 522291 1147802 1147802 FEE INCOME 418746 418746 1566548 398435 398435 OTHER OPERATING INCOME 525990 501478 501478 501478 2466461 2466461 641352 641352 32247 32247 54636 54636 51116 51116 783893 783893 164408 164408 74226 74226 284736 284736 PROVISION FOR LOAN LOSS 393236 393236 PROF & OUTSIDE SERVICE 126838 126838 LOAN SERVICING 36547 36547 MISC OPERATING EXPENSE 35709 35709 35114 35114 2714058 0 2714058 0 804432 834774 1395000 947000 17827219 19266472 18043 199136 3865867 1704974 1794535 2160893 18485675 19077764 570370 593398 40895274 43079437 -80750 214728 689000 7089000 38388436 33934623 38996686 41238351 X 1898588 1841086 1898588 1841086 40895274 43079437 X -247597 191142 -1047 X false false 870000 870000 959425 393669 565756 1435756 ALL OTHER INVESTMENTS 18827764 MEMBERSHIP CAPITAL 250000 19077764 REGULAR SHARES 17354148 ALL OTHER SHARES 8002963 SHARE DRAFTS 6637512 NONMEMBER DEPOSITS 1940000 33934623 false false false SHEP LOWERY PRESIDENT/CEO 115000 15785 26500 157285 FORM 990, PAGE 1, PART I, LINE 6 HOURS OF SERVICE ARE RELATED TO DUTIES OF THE BOARD OF DIRECTORS, SUPERVISORY COMMITTEE, AND CREDIT COMMITTEE WITHOUT COMPENSATION. FORM 990, PAGE 5, PART V, LINE 3B THE CREDIT UNION HAD NO UNRELATED BUSINESS INCOME. FORM 990, PAGE 6, PART VI, LINE 6 THE CREDIT UNION IS OWNED BY THE MEMBERS. FORM 990, PAGE 6, PART VI, LINE 7A THE BOARD OF DIRECTORS IS ELECTED BY THE MEMBERSHIP (ONE MEMBER, ONE VOTE). ALL DUTIES, POWERS, AND RESPONSIBILITIES ARE CONTROLLED BY THE BOARD OF DIRECTORS. THE MEMBERS ELEECT THE BOARD OF DIRECTORS AT THE ANNUAL MEETING EVERY YEAR. FORM 990, PAGE 6, PART VI, LINE 7B SOME DECISIONS MADE BY THE BOARD OF DIRECTORS ARE AFFIRMED BY THE MEMBERS. FORM 990, PAGE 6, PART VI, LINE 11B THE FORM 990 IS REVIEWED BY THE MANAGER. THE FORM 990 IS AVAILABLE FOR REVIEW BY THE BOARD OF DIRECTORS UPON REQUEST. FORM 990, PAGE 6, PART VI, LINE 12C THE BOARD OF DIRECTORS MONITOR AND ENFORCE THE CONFLICT OF INTEREST POLICY. FORM 990, PAGE 6, PART VI, LINE 15A THE BOARD OF DIRECTORS USE A COMPARISON OF SMALL CREDIT UNION COMPENSATION. FORM 990, PAGE 6, PART VI, LINE 15B ONLY COMPARABILITY DATA WAS USED IN DETERMINING COMPENSATION FOR THE PRESIDENT/CEO. FORM 990, PAGE 6, PART VI, LINE 19 FINANCIAL DOCUMENTS ARE POSTED IN THE CREDIT UNION LOBBY BY THE 15TH OF THE SUBSEQUENT MONTH. FORM 990, PART XI, LINE 9 DUE TO ROUNDING 0 ALL FUNDING - PER CECL 0 PRIOR PERIOD ADJUSTMENT -1,047 TOTAL -1,047