2025-11-17T18:14:29-06:00 2024-12-31 630813240 PEARCE BEVILL LEESBURG MOORE PC 110 OFFICE PARK DR BIRMINGHAM AL 35223 990 2024-01-01 630353833 ALABAMA ONE CREDIT UNION ALAB 2057591595 1215 VETERANS MEMORIAL PARKWAY TUSCALOOSA AL 35404 WHITNEY OSWALT CEO 2057591595 2025-11-17 1 0 W GLENN BRIDGES JR CPA P00519867 2053235440 2025-11-17 2024 2025-03-06 01:10:19Z WHITNEY OSWALT 1215 VETERANS MEMORIAL PARKWAY TUSCALOOSA AL 35404 79240379 0 X WWW.ALABAMAONE.ORG X STATE CHARTERED COOPERATIVE CREDIT U 1953 AL COOPERATIVE CREDIT UNION 14 14 412 17 1833496 385110 0 0 62571573 79240379 0 0 0 0 62571573 79240379 64510 38765 0 0 21402425 24736422 0 0 0 35542691 50564974 57009626 75340161 5561947 3900218 1221344942 1326232250 1135785434 1240294577 85559508 85937673 X 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. 0 0 75340161 ALABAMA BANKING CODE, SECTION 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. ALABAMA ONE CREDIT UNION, AN ALABAMA STATE CHARTERED CREDIT UNION, PROVIDES A VARIETY OF FINANCIAL SERVICES TO ITS MEMBERS. THE CREDIT UNION'S MEMBERSHIP IS PRIMARILY COMPRISED OF PERSONS WHO LIVE AND WORK IN TUSCALOOSA COUNTY, ALABAMA AND THIRTY-THREE OTHER COUNTIES THROUGHOUT ALABAMA; EMPLOYEES, RESIDENTS, AND/OR PATIENTS OF VARIOUS MEDICAL PROVIDERS WITHIN THE STATE OF ALABAMA; EMPLOYEES OF THE CREDIT UNION AND OTHER SPECIFIED EMPLOYERS; RETIREES OF ALL AFOREMENTIONED GROUPS; AND SPOUSES, WIDOWS, AND IMMEDIATE FAMILY MEMBERS OF ALL AFOREMENTIONED GROUPS. AS OF DECEMBER 31, 2024, THE CREDIT UNION PROVIDED SERVICES TO APPROXIMATELY 93,807 MEMBERS. 75340161 0 0 0 0 0 0 0 1 0 1 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 1 1 1 0 0 1 25423 0 1 412 1 1 1 0 0 0 0 0 0 0 X 14 14 0 0 1 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X W WHITNEY OSWALT 2057591595 1215 VETERANS MEMORIAL PARKWAY TUSCALOOSA AL 35404 SCOTT BOBO BOARD MEMBER 1.00 X 0 0 0 TAMIKA ALEXANDER BOARD SECRETARY 1.00 X 0 0 0 FRANKLIN BOHANNON SUPERVISORY COMMITTEE MEMBER 1.00 X 0 0 0 BJ STABLER BOARD MEMBER 1.00 X 0 0 0 RON ABERNATHY BOARD TREASURER 1.00 X 0 0 0 BILL WARREN BOARD MEMBER 1.00 X 0 0 0 LUCY SELLERS BOARD MEMBER 1.00 X 0 0 0 ED WILLIAMSON SUPERVISORY COMMITTEE MEMBER 1.00 X 0 0 0 DAVID LOE SUPERVISORY COMMITTEE CHAIRPERSON 1.00 X 0 0 0 LOO WHITFIELD BOARD CHAIRPERSON 1.00 X 0 0 0 FRED BRASWELL BOARD VICE CHAIRPERSON 1.00 X 0 0 0 SHELIA PENN BOARD MEMBER 1.00 X 0 0 0 TOM FANNING BOARD MEMBER 1.00 X 0 0 0 BARRY MIXON BOARD MEMBER 1.00 X 0 0 0 BYRON ABSTON BOARD MEMBER 1.00 X 0 0 0 APRIL HARROD BOARD MEMBER 1.00 X 0 0 0 CRAIG PATTERSON BOARD MEMBER 1.00 X 0 0 0 WILLIAM C WELLS CEO 40.00 X 778244 0 186496 WHITNEY OSWALT CFO 40.00 X 448846 0 104967 JASON HALPERIN CHIEF RETAIL OFFICER 40.00 X 273086 0 57085 SHELBY GRANTHAM SENIOR DIRECTOR OF OPERATIONS (TERM END 2024) 40.00 X 418458 0 42574 WILLIAM R STALLINGS CHIEF COMMERCIAL LENDING OFFICER (TERM END 2024) 40.00 X 211847 0 20813 ROBERT LONG CHIEF TECHNOLOGY OFFICER 40.00 X 240530 0 41833 WILLIAM TURNER SENIOR DIRECTOR OF TREASURY 40.00 X 218286 5200 47172 MICHAEL BROWN SENIOR DIRECTOR OF RETAIL 40.00 X 189173 0 56242 MINDY HILL DIRECTOR OF MORTGAGE LENDING (TERM END 2024) 40.00 X 180682 0 9128 JARED KIRBY SVP, AREA EXECUTIVE 40.00 X 233797 0 40611 MARTIN HOUSTIN CHIEF GROWTH OFFICER (TERM END 2024) 40.00 X 317365 0 42196 WILLIAM RICKMAN SVP, AREA EXECUTIVE 40.00 X 157970 0 34534 3668284 5200 683651 25 0 1 0 QUALITY DATA SYSTEMS INC 8655 CROWN CRESCENT CT CHARLOTTE NC 28227 ATM/ITM SERVICING 2057953 BEASLEY CONSTRUCTION SERVICES INC 56 W MAIN ST NOTASULGA AL 36866 CONSTRUCTION SERVICES 1602873 THE NEXT BEST THING 2209 9TH STREET 602 TUSCALOOSA AL 35401 JANITORIAL SERVICES 273905 ROSEN HARWOOD PA 2100 SOUTHBRIDGE PKWY 228 BIRMINGHAM AL 35209 LEGAL SERVICES 237816 REDI ENTERPRISE DEVELOPMENT 1500 1ST AVE N BIRMINGHAM AL 35203 CARD MONITORING 219946 20 LOAN INTEREST INCOME 522100 48972948 48972948 FINANCIAL SERVICE FEE AND OPERATI 522100 22023508 20190012 1833496 INVESTMENT INCOME 522100 8243923 8243923 79240379 79240379 77406883 1833496 0 38765 3090237 16410643 1785328 2015578 1434636 251874 141000 744452 1136720 6946335 1582975 355947 3614174 492102 MEMBER DIVIDEND AND INT 26038635 COST OF FINANCIAL SERVI 6059429 PROVISION FOR LOAN LOSS 1900000 LOAN SERVICING EXPENSE 633902 667429 75340161 27341322 23630998 17359798 134433171 883141067 936138417 3250340 4049054 51682537 20195391 30719645 31487146 206283966 142888517 14669220 10004032 38579584 43600915 1221344942 1326232250 10387562 10785263 27538 26230 1433917 1802483 50980810 10000000 9721548 30000000 1063234059 1187680601 1135785434 1240294577 X 0 0 0 0 85559508 85937673 85559508 85937673 1221344942 1326232250 X 3900218 -3220769 -301284 X X 0 1 X 0 0 0 1 X 4812961 4812961 27748026 9353064 18394962 9720 7614 2106 18158064 10630017 7528047 953766 204696 749070 31487146 FEDERAL AGENCY SECURITIES 115380584 F CERTIFICATES OF DEPOSIT 10948000 C CUSO INVESTMENT 283472 C CORPORATE CREDIT UNION CAPITAL SHARES 13303734 C OTHER CORPORATE ACCOUNTS 841725 C FEDERAL HOME LOAN BANK INVESTMENTS 2131002 C 142888517 MEMBER SHARES AND CERTIFICATE SHARES 1187680587 DIVIDENDS PAYABLE 14 1187680601 X 79240379 0 79240379 0 79240379 75340161 0 75340161 0 75340161 PART IV, LINE 2B: THE CREDIT UNION ACCEPTS AND MAINTAINS ESCROW PAYMENTS TO PAY ANNUAL TAXES AND INSURANCE ON MEMBER BORROWER MORTGAGE LOANS. PART X, LINE 2: THE FIN 48 FOOTNOTE INCLUDED IN THE CREDIT UNION'S DECEMBER 31, 2024 AUDITED FINANCIAL STATEMENTS IS AS FOLLOWS: THE CREDIT UNION IS EXEMPT, BY STATUTES, FROM MOST FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION FILES A FEDERAL FORM 990 AND HAS A DECEMBER 31, TAX YEAR END. THE STATE OF ALABAMA IMPOSES A 6.5% EXCISE TAX ON THE TAXABLE INCOME OF STATE-CHARTERED CREDIT UNIONS AS OF DECEMBER 31, EACH TAX YEAR. THE CREDIT UNION HAS ASSESSED ITS ACTIVITIES AND ANY POTENTIAL FEDERAL INCOME TAX LIABILITY BASED ON THE GUIDANCE FROM THE PROVISIONS OF FASB ASC 740, INCOME TAXES, ASSOCIATED WITH UNCERTAINTY IN INCOME TAX POSITIONS. MANAGEMENT BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR THE INCOME TAX POSITIONS TAKEN AND TO BE TAKEN ON ITS TAX RETURNS BASED ON AN ASSESSMENT OF MANY FACTORS INCLUDING EXPERIENCE AND INTERPRETATIONS OF TAX LAWS APPLIED TO THE FACTS OF EACH MATTER. THE CREDIT UNION HAS CONCLUDED THAT THERE ARE NO SIGNIFICANT UNCERTAIN TAX POSITIONS REQUIRING DISCLOSURE, AND THERE ARE NO MATERIAL AMOUNTS OF UNRECOGNIZED TAX BENEFITS REQUIRING RECOGNITION IN THE FINANCIAL STATEMENTS. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES, AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY ARISING FROM FEDERAL TAXATION OF ACTIVITIES DEEMED TO BE UNRELATED TO ITS EXEMPT PURPOSES AND ANY POTENTIAL ADDITIONAL LIABILITY RESULTING FROM THE TAXING AUTHORITIES IMPOSING TAXES, PENALTIES, AND INTEREST ON THE TAXES DUE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. CURRENTLY, THE 2023, 2022, AND 2021 FEDERAL TAX RETURNS ARE OPEN FOR EXAMINATION BY THE IRS. PARTS XI AND XII: ON AN ANNUAL BASIS, THE ALABAMA CREDIT UNION ADMINISTRATION AND/OR THE NATIONAL CREDIT UNION ADMINISTRATION PERFORM A REGULATORY EXAMINATION OF THE FINANCIAL STATEMENTS AND SAFETY AND SOUNDNESS OF THE CREDIT UNION. ADDITIONALLY, THE CREDIT UNION'S FINANCIAL STATEMENTS ARE AUDITED BY AN INDEPENDENT ACCOUNTANT AS OF DECEMBER 31 EACH YEAR IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUTING PRINCIPLES FOR DEPOSITORY AND LENDING FINANCIAL INSTITUTIONS. AS A LENDING AND DEPOSIT-TAKING FINANCIAL INSTITUTION, THE CREDIT UNION IS NOT REQUIRED TO PREPARE ITS FINANCIAL STATEMENTS IN ACCORDANCE WITH SFAS 117. 1 ALABAMA ONE ASPIRE FOUNDATION 1215 VETERANS MEMORIAL PARKWAY TUSCALOOSA AL 35404 843427199 501(C)(3) 33765 0 CASH DONATIONS TO SPONSOR AO ASPIRE'S MISSION. PART I, LINE 2: AOCU MADE DONATIONS TO AO ASPIRE IN 2024. AOCU IS AO ASPIRE'S CONTROLLING ENTITY, AND HAS DIRECT CONTROL OVER THE USE OF THE FUNDS. X 1 1 X X X X X 0 1 0 WILLIAM C WELLS CEO 482000 0 117625 0 178619 0 160660 0 25836 0 964740 0 0 0 WHITNEY OSWALT CFO 375000 0 35423 0 38423 0 79854 0 25113 0 553813 0 0 0 SHELBY GRANTHAM SENIOR DIRECTOR OF OPERATIONS (TERM 151409 0 21630 0 245419 0 36913 0 5661 0 461032 0 0 0 MARTIN HOUSTIN CHIEF GROWTH OFFICER (TERM END 2024) 143500 0 14000 0 159865 0 30602 0 11594 0 359561 0 0 0 JASON HALPERIN CHIEF RETAIL OFFICER 222742 0 11385 0 38959 0 35087 0 21998 0 330171 0 0 0 ROBERT LONG CHIEF TECHNOLOGY OFFICER 205005 0 35525 0 0 0 21969 0 19864 0 282363 0 0 0 JARED KIRBY SVP, AREA EXECUTIVE 200000 0 529 0 33268 0 21366 0 19245 0 274408 0 0 0 WILLIAM TURNER SENIOR DIRECTOR OF TREASURY 181409 0 25899 0 10978 5200 43163 0 4009 0 265458 5200 0 0 MICHAEL BROWN SENIOR DIRECTOR OF RETAIL 143139 0 32057 0 13977 0 40340 0 15902 0 245415 0 0 0 WILLIAM R STALLINGS CHIEF COMMERCIAL LENDING OFFICER (TE 143500 0 43886 0 24461 0 19048 0 1765 0 232660 0 0 0 WILLIAM RICKMAN SVP, AREA EXECUTIVE 143499 0 14471 0 0 0 25379 0 9155 0 192504 0 0 0 MINDY HILL DIRECTOR OF MORTGAGE LENDING (TERM E 123000 0 10545 0 47137 0 7766 0 1362 0 189810 0 0 0 PART I, LINE 1A THE CREDIT UNION'S TRAVEL POLICY ALLOWS DIRECTORS, SVC MEMBERS, AND EMPLOYEES TO BRING SPOUSES (AND IN SOME CASES, CHILDREN) WHEN TRAVELING ON CREDIT UNION BUSINESS AND BE REIMBURSED FOR THEIR REASONABLE TRAVEL COSTS. PART I, LINE 1B THE BOARD OF DIRECTORS APPROVES TRAVEL EACH YEAR FOR ANY BOARD MEMBER OR OFFICER OF THE CREDIT UNION AND IF A SPOUSE WILL BE PERMITTED TO TRAVEL. ALL EXPENSES ARE REVIEWED BY THE BOARD. PART I, LINE 3 MANAGEMENT'S COMPENSATION IS DETERMINED ANNUALLY BY THE CREDIT UNION'S BOARD OF DIRECTORS AND IS BASED ON PERFORMANCE AND INDEPENDENT COMPARABLE INDUSTRY COMPENSATION DATA. PART I, LINE 4B AS OF APRIL 1, 2018, THE CREDIT UNION ADOPTED THE ALABAMA ONE CREDIT UNION 457(F) DISCRETIONARY CONTRIBUTION PLAN. THE PLAN IS INTENDED TO BE A NON-QUALIFIED INELIGIBLE DEFERRED COMPENSATION PLAN WITHIN THE MEANING OF SECTION 457(F) OF THE INTERNAL REVENUE CODE. THE PURPOSE OF THE PLAN IS TO 1) ALLOW PARTICIPANTS AN OPPORTUNITY TO ELECT TO DEFER THE RECEIPT OF COMPENSATION (PARTICIPANT COMPENSATION DEFERRAL), AND 2) PROVIDE A VEHICLE FOR THE CREDIT UNION TO CREDIT AMOUNTS ON A TAX DEFERRED BASIS FOR EMPLOYEE PARTICIPANTS (EMPLOYER CONTRIBUTION CREDIT). THE AMOUNT OF ANNUAL CONTRIBUTIONS TO A PARTICIPANT'S ACCOUNT IS SUBJECT TO IRS LIMITATIONS AS DEFINED IN THE PLAN. PARTICIPANT ACCOUNTS ARE 100% VESTED AFTER A PERIOD OF 5 YEARS IN ANY AMOUNTS CREDITED TO THEIR ACCOUNT. EACH PARTICIPANTS ACCOUNT WILL BE ADJUSTED FOR CREDITED INTEREST OR INCREASES OR DECREASES IN THE REALIZABLE NET ASSET VALUE, AS APPLICABLE, OF THE DESIGNATED DEEMED PLAN INVESTMENTS. THE DEFERRED COMPENSATION ACCOUNTS ARE SHOWN AS BOTH ASSETS AND LIABILITIES ON THE CREDIT UNION'S FINANCIAL STATEMENTS AND ARE AVAILABLE TO CREDITORS IN THE EVENT OF THE CREDIT UNION'S LIQUIDATION. THE BALANCE OF THE 457(F) DEFERRED COMPENSATION ARRANGEMENT WAS $2,540,580 AND $1,922,835 AS OF DECEMBER 31, 2024 AND 2023, RESPECTIVELY. ROBERT LONG ROBERT LONG IS AOCU'S CHIEF TECHNOLOGY OFFICER 0 ROBERT LONG OWNS THE PROJECT MANAGEMENT RESOURCES, INC CORPORATION, WHICH IS A 29.41% PARTNER IN THE VULCAN DATACORP, LLC PARTNERSHIP IN WHICH THE CREDIT UNION IS A 67.4% PARTNER. PMR IS ALSO A 45% PARTNER IN TELLERIX, LLC, WHICH AOCU IS THE 45% PARTNER OF. PMR AND AOCU ARE ALSO BOTH 25% PARTNERS IN THE CU VIRTUAL PARTNERSHIP. DURING 2024, AOCU MADE USE OF VULCAN DATACORP'S AND TELLERIX'S SERVICES, AND PAID CERTAIN EXPENSES OF THESE PARTNERSHIPS, WHICH WERE REIMBURSED PRIOR TO 12/31/2024. 0 FORM 990, PART VI, SECTION A, LINE 4 THE CREDIT UNION AMENDED ARTICLE II, SECTION 1(A) OF THEIR BYLAWS TO ADD THE FOLLOWING COUNTIES TO THEIR FIELD OF MEMBERSHIP: CHAMBERS, CHEROKEE, CLAY, CLEBURNE, CONECUH, COOSA, COVINGTON, DALE, ELMORE, ETOWAH, AND RANDOLPH. FORM 990, PART VI, SECTION A, LINE 6 ALABAMA BANKING CODE, SECTION 5-17-5 STATES THAT, "CREDIT UNION MEMBERSHIP SHALL CONSIST OF THE INCORPORATORS AND SUCH OTHER PERSONS AS MAY BE ELECTED TO MEMBERSHIP AND WHO SUBSCRIBE TO AT LEAST ONE SHARE AND PAY THE INITIAL INSTALLMENT THEREON AND THE ENTRANCE FEE. ORGANIZATIONS, INCORPORATED OR OTHERWISE, COMPOSED FOR THE MOST PART OF THE SAME GENERAL GROUP AS THE CREDIT UNION MEMBERSHIP MAY BE MEMBERS. CREDIT UNION ORGANIZATION SHALL BE LIMITED TO GROUPS, OF BOTH LARGE AND SMALL MEMBERSHIP, HAVING A COMMON BOND OF OCCUPATION OR ASSOCIATION OR TO GROUPS WITHIN A WELL- DEFINED NEIGHBORHOOD, COMMUNITY OR RURAL DISTRICT." THE CREDIT UNION'S MEMBERSHIP IS PRIMARILY COMPRISED OF PERSONS WHO LIVE AND WORK IN TUSCALOOSA COUNTY, ALABAMA AND THIRTY-THREE OTHER COUNTIES THROUGHOUT ALABAMA; EMPLOYEES, RESIDENTS, AND/OR PATIENTS OF VARIOUS MEDICAL PROVIDERS WITHIN THE STATE OF ALABAMA; EMPLOYEES OF THE CREDIT UNION AND OTHER SPECIFIED EMPLOYERS; RETIREES OF ALL AFOREMENTIONED GROUPS; AND SPOUSES, WIDOWS, AND IMMEDIATE FAMILY MEMBERS OF ALL AFOREMENTIONED GROUPS. AS OF DECEMBER 31, 2024, THE CREDIT UNION PROVIDED SERVICES TO APPROXIMATELY 93,807 MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION'S BYLAWS GOVERN THE ELECTION PROCEDURES. THE BOARD OF DIRECTORS ARE ELECTED BY THE CREDIT UNION'S MEMBERSHIP AT THE ANNUAL MEETING. THE TERMS OF THE BOARD OF DIRECTORS, AS SET BY THE BYLAWS, ARE 3 YEARS AND ARE STAGGERED SO THAT AN EQUAL NUMBER EXPIRE AT EACH ANNUAL MEETING. PRIOR TO THE ANNUAL MEETING, THE BOARD CHAIRMAN APPOINTS A NOMINATING COMMITTEE TO NOMINATE A CANDIDATE FOR EACH VACANCY. UNDER NO CIRCUMSTANCES MAY NOMINATIONS BE CALLED FOR FROM THE FLOOR. ELECTION BY THE MEMBERSHIP IS PERFORMED THROUGH MAIL AND IN-PERSON BALLOTS, UNLESS THERE IS ONLY ONE NOMINEE. ALL BALLOTING IS CLOSED AT THE COMMENCEMENT OF THE ANNUAL MEETING, WHEREUPON THE VOTES ARE TALLIED AND RESULTS ARE ANNOUNCED. ALL ELECTIONS ARE DETERMINED BY A PLURALITY VOTE. PROXY VOTING IS NOT ALLOWED. NO MEMBERS SHALL HAVE MORE THAN ONE VOTE. MEMBERS MUST BE AT LEAST NINETEEN YEARS OF AGE TO PARTICIPATE IN ELECTIONS OR HOLD ELECTED AND/OR APPOINTED POSITIONS. FORM 990, PART VI, SECTION A, LINE 7B THE FOLLOWING TYPES OF DECISIONS ARE SUBJECT TO APPROVAL BY THE CREDIT UNION'S MEMBERS: DISSOLUTION AND MERGER DECISIONS, ELECTION AND TERMINATION OF BOARD MEMBERS, ELECTION AND TERMINATION OF SUPERVISORY COMMITTEE MEMBERS, AND CONVERSION FROM STATE TO FEDERAL CHARTER. FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT PERFORMS A REVIEW OF THE FORM 990 AND 990-T PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CREDIT UNION HAS A CONFLICT OF INTEREST POLICY. IT IS THE POLICY OF THE CREDIT UNION TO PROHIBIT ANY EMPLOYEE OR INSIDER FROM ENGAGING IN ANY ACTIVITY THAT CONFLICTS WITH THE INTERESTS OF THE CREDIT UNION OR ITS MEMBERS. EACH SITUATION IS HANDLED ON A CASE BY CASE BASIS BY THE BOARD OF DIRECTORS, AND IF NECESSARY, OTHERS AS DETERMINED BY THE BOARD OF DIRECTORS. IF THE SITUATION INVOLVES A MEMBER OF THE BOARD OF DIRECTORS, THAT MEMBER SHALL RECUSE HIMSELF OR HERSELF FROM THE DECISION REGARDING THE CONFLICT AND/OR ENTRY INTO A LOAN OR OTHER CONTRACT WITH THE CONFLICTED PARTY. ALL EXISTING AND POTENTIAL CONFLICTS OF INTEREST SHALL BE BROUGHT TO THE ATTENTION OF THE BOARD OF DIRECTORS PRIOR TO APPROVING LOANS OR OTHER TRANSACTIONS INCLUDING, BUT NOT LIMITED TO, THE PAYMENT OF PROFESSIONAL FEES, OR OTHER FEES FOR SERVICES RENDERED OR THE ENTRY BY THE CREDIT UNION INTO ANY VENDOR CONTRACT IN WHICH OFFICERS, DIRECTORS, EMPLOYEES AND OTHER INSIDERS ARE INVOLVED. EACH MEMBER OF THE BOARD SHALL BE APPRISED OF ANY POTENTIAL OR EXISTING CONFLICT PRIOR TO MAKING A DECISION OR ACTING SPECIFICALLY ON ANY LOAN OR OTHER TRANSACTION IN WHICH INSIDERS AND/OR THEIR BUSINESS ASSOCIATES ARE INVOLVED DIRECTLY OR INDIRECTLY. TO IDENTIFY ANY AND ALL ACTUAL OR POTENTIAL CONFLICTS OF INTEREST, EACH INSIDER ARE REQUIRED TO SIGN A CONFLICT OF INTEREST AGREEMENT AND PROVIDE AN ANNUAL ACKNOWLEDGMENT (ON OR BEFORE JANUARY 15 OF EACH YEAR) OF HIS/HER UNDERSTANDING OF AND COMPLIANCE WITH THE APPLICABLE LAWS, THE CREDIT UNION'S CONFLICT OF INTEREST, GIFTS, AND BRIBES, KICKBACKS AND OTHER ILLEGAL PAYMENTS POLICIES. ALL NEW EMPLOYEES OR OTHER INSIDERS ARE REQUIRED TO SIGN THE CONFLICT OF INTEREST AGREEMENT PRIOR TO EMPLOYMENT, SERVICE, OR ASSOCIATION AND BE REQUIRED TO PROVIDE THE ANNUAL ACKNOWLEDGEMENT (BY JANUARY 15 OF EACH YEAR) AS WELL. THE HUMAN RESOURCES DIRECTOR IS RESPONSIBLE FOR OBTAINING AND MAINTAINING ALL AGREEMENTS AND ANNUAL ACKNOWLEDGEMENT STATEMENTS FROM ALL OFFICERS, DIRECTORS, COMMITTEE MEMBERS, MANAGERS, EMPLOYEES AND OTHER INSIDERS. EACH CREDIT UNION INSIDER SHALL ALSO DISCLOSE ALL CONFLICTS OF INTEREST AND ALL POTENTIAL CONFLICTS OF INTEREST, INCLUDING THOSE IN WHICH THEY ARE INADVERTENTLY PLACED DUE TO A BUSINESS OR PERSONAL RELATIONSHIP WITH ANY MEMBER, SUPPLIER, BUSINESS ASSOCIATE, OR COMPETITOR OF THE CREDIT UNION, OR ANY OTHER ENTITY WITH WHICH THE CREDIT UNION DOES BUSINESS. FORM 990, PART VI, SECTION B, LINE 15 MANAGEMENT'S COMPENSATION IS DETERMINED ANNUALLY BY THE CREDIT UNION'S BOARD OF DIRECTORS AND IS BASED ON PERFORMANCE AND INDEPENDENT COMPARABLE INDUSTRY COMPENSATION DATA. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. THE CREDIT UNION'S FINANCIAL STATEMENTS CAN BE FOUND ON THE WEBSITE OF THE NCUA AT WWW.NCUA.GOV. FORM 990, PART XI, LINE 9: ADJUSTMENTS TO EQUITY ACQUIRED IN MERGERS -301,284. FORM 990, PART XII, LINE 2B: ON AN ANNUAL BASIS, THE ALABAMA CREDIT UNION ADMINISTRATION AND/OR THE NATIONAL CREDIT UNION ADMINISTRATION PERFORM A REGULATORY EXAMINATION OF THE FINANCIAL STATEMENTS AND SAFETY AND SOUNDNESS OF THE CREDIT UNION. ADDITIONALLY, THE CREDIT UNION'S FINANCIAL STATEMENTS ARE AUDITED BY AN INDEPENDENT ACCOUNTANT AS OF DECEMBER 31 EACH YEAR. AOCU HOLDINGS LLC 2115 11TH STREET TUSCALOOSA AL 35401 811605657 TO HOLD CERTAIN OPERATING OREO PROPERTIES AL 0 108518 ALABAMA ONE CREDIT UNION ALABAMA ONE AGENCY LLC 1215 VETERANS MEMORIAL PKWY STE 205 TUSCALOOSA AL 35404 822280788 TO PROVIDE INSURANCE SERVICES AL 363077 95337 ALABAMA ONE CREDIT UNION ALABAMA ONE ASPIRE FOUNDATION 1215 VETERANS MEMORIAL PARKWAY TUSCALOOSA AL 35404 843427199 FINANCIAL WELLNESS AND OPERATION CREDIT UNION CHRISTMAS AL 501(C)(3) 170(B)(1)(A)(VI) ALABAMA ONE CREDIT UNION 0 TELLERIX LLC 1215 VETERANS MEMORIAL PKWY STE 209 TUSCALOOSA AL 35404 873400370 ATM/ITM SERVICING & IT CONSULTING AL ALABAMA ONE CREDIT UNION UNRELATED 247477 271777 0 1 0.45000 VULCAN DATACORP LLC 1215 VETERANS MEMORIAL PKWY STE 207 TUSCALOOSA AL 35404 844695988 IT CONSULTING AL ALABAMA ONE CREDIT UNION UNRELATED 1313 0 1 0.64700 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 TELLERIX LLC Q 151045 CASH ALABAMA ONE ASPIRE FOUNDATION B 38765 CASH