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Nonprofit · EIN 63-0306291

TVA COMMUNITY CREDIT UNION

Tax-exempt · MUSCLE SHOALS, AL 35661

Financials

$15.8M$9.8M2023$18.4M$13.3M2024$18.5M$13.5M2025
Revenue Expenses · by fiscal year end
Financials of TVA COMMUNITY CREDIT UNION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2025990$18,525,304$13,475,459$5,049,845$416,169,359$360,348,940$55,820,419
December 31, 2024990$18,393,055$13,298,443$5,094,612$398,193,616$356,445,815$41,747,801
December 31, 2023990$15,805,515$9,821,796$5,983,719$406,332,778$370,201,610$36,131,168
Financial details: 990 for the year ended December 31, 2025

Revenue

Contributions, gifts and grants
$0
Program service revenue
$11,593,875
Investment income
$6,261,574
Other revenue
$669,855

Expenses

Grants and similar amounts paid
$0
Other salaries and wages
$3,248,795
Salaries, compensation and benefits (total)
$4,439,770
Professional fundraising fees
$0
Occupancy
$583,782
Management and general (functional)
$13,475,459

Balance sheet and other

Total assets, start of year
$398,193,616
Total assets, end of year
$416,169,359
Total liabilities, end of year
$360,348,940
Net assets, end of year
$55,820,419
Land, buildings and equipment
$7,384,066
Gross unrelated business income
$101,545
Gross receipts
$18,525,304
Employees
89
Volunteers
12
Year formed
1936
State of legal domicile
AL

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2025, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
SAMMY CLEMENTSCEO
Officer
40$243,929$84,432
AMY MCCORMACKVP OF OPERAT
Officer
40$115,037$53,332
SHERRY VAUGHNCFO
Officer
40$95,233$42,722
HEATHER MONTGOMERYBOARD MEMBER
Trustee or director
1$0$0
TIMOTHY CORNELIUSBOARD VICE C
Trustee or director
1$0$0
CLAUDE EUBANKS JRBOARD MEMBER
Trustee or director
1$0$0
COLANDRA NELSONBOARD MEMBER
Trustee or director
1$0$0
LEWIS FREDERICKBOARD MEMBER
Trustee or director
1$0$0
MARY J LIGONBOARD MEMBER
Trustee or director
1$0$0
LARRY SOFTLEYBOARD CHAIR
Trustee or director
1$0$0
JAMES JIM GREENBOARD MEM
Trustee or director
1$0$0
FRANCES WEATHERFORDBOD SEC/TREA
Trustee or director
–$0$0
JOHN SOILEAUSUPER COM CH
Officer
1$0$0
CAMERON KAYSUPERVISORY
Officer
1$0$0
JOAN MARSHSUPERVISORY
Officer
–$0$0
990 for the year ended December 31, 2024: 14 people
NameTitleHours / weekCompensationOther / benefits
SAMMY CLEMENTSCEO
Officer
40$223,985$70,289
SHERRY VAUGHNCFO
Officer
40$91,528$38,520
HEATHER MONTGOMERYBOARD MEMBER
Trustee or director
1$0$0
TIMOTHY CORNELIUSBOARD VICE C
Trustee or director
1$0$0
CLAUDE EUBANKS JRBOARD MEMBER
Trustee or director
1$0$0
JOAN MARSHBOARD MEMBER
Trustee or director
1$0$0
LEWIS FREDERICKBOARD MEMBER
Trustee or director
1$0$0
MARY J LIGONBOARD MEMBER
Trustee or director
1$0$0
LARRY SOFTLEYBOARD CHAIR
Trustee or director
1$0$0
JAMES JIM GREENBOARD MEM
Trustee or director
1$0$0
FRANCES WEATHERFORDBOD SEC/TREA
Trustee or director
1$0$0
JOHN SOILEAUSUPER COM CH
Officer
1$0$0
CAMERON KAYSUPERVISORY
Officer
1$0$0
COLANDRA NELSONSUPERVISORY
Officer
1$0$0
990 for the year ended December 31, 2023: 14 people
NameTitleHours / weekCompensationOther / benefits
SAMMY CLEMENTSCEO
Officer
40$219,354$45,680
SHERRY VAUGHNCFO
Officer
40$91,683$33,018
JOHN ALLGOODBOARD VICE C
Trustee or director
1$0$0
TIMOTHY CORNELIUSBOARD MEMBER
Trustee or director
1$0$0
CLAUDE EUBANKS JRBOARD MEMBER
Trustee or director
1$0$0
JOAN MARSHBOARD MEMBER
Trustee or director
1$0$0
LEWIS FREDERICKBOARD MEMBER
Trustee or director
1$0$0
MARY J LIGONBOARD MEMBER
Trustee or director
1$0$0
LARRY SOFTLEYBOARD CHAIR
Trustee or director
1$0$0
JAMES JIM GREENBOARD MEM
Trustee or director
1$0$0
FRANCES WEATHERFORDSECRETARY/TR
Trustee or director
1$0$0
JOHN SOILEAUSUPER COM CH
Officer
1$0$0
CAMERON KAYSUPERVISORY
Officer
1$0$0
COLANDRA NELSONSUPERVISORY
Officer
1$0$0

Address and contacts

Address (IRS master file)
1405 S WILSON DAM RD, MUSCLE SHOALS, AL 35661-2743
In care of
% SAMMY CLEMENTS
Principal officer (990 for 2025)
SAMMY CLEMENTS, 1405 SOUTH WILSON DAM RD, MUSCLE SHOALS, AL 35661
Signed the 990
SAMMY CLEMENTS, CEO
Phone
(256) 386-3000
Return prepared by
CREDIT UNION AUDIT GROUP

Mission

CREDIT UNION - TO PROVIDE SERVICES FOR APPROXIMATELY 19,939 MEMBERS IN THE FORM OF LOANS, SAVINGS, AND OTHER FINANCIAL SERVICES.

990 for the year ended December 31, 2025

Program accomplishments

  • THE CREDIT UNION PROVIDED A VARIETY OF LOAN SERVICES FOR ITS MEMBERS.
    Expenses $8,789,927
  • THE CREDIT UNION PROVIDED A VARIETY OF DEPOSIT SERVICES FOR ITS MEMBERS.
    Expenses $4,685,531

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026990 on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
63-0306291
Tax-exempt status
501(c)(14): State-chartered credit union
Donations deductible
No
Exempt since
1971
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$416,169,359
Income (IRS master file)
$18,525,304

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2025$18,525,304$13,475,459$416,169,359XML
990December 2024$18,393,055$13,298,443$398,193,616XML
990December 2023$15,805,515$9,821,796$406,332,778XML
990December 2022$12,113,228$8,841,934$393,706,380IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 63-0306291).

Questions about TVA COMMUNITY CREDIT UNION

What is the EIN of TVA COMMUNITY CREDIT UNION?
The employer identification number (EIN) of TVA COMMUNITY CREDIT UNION is 63-0306291.
Is TVA COMMUNITY CREDIT UNION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1971.
Are donations to TVA COMMUNITY CREDIT UNION tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does TVA COMMUNITY CREDIT UNION file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of TVA COMMUNITY CREDIT UNION due?
The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
When did TVA COMMUNITY CREDIT UNION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2025.
Who is the principal officer of TVA COMMUNITY CREDIT UNION?
The 990 for the year ended December 31, 2025 names SAMMY CLEMENTS.
Who are the officers and directors of TVA COMMUNITY CREDIT UNION?
The 990 for the year ended December 31, 2025 lists 15 people; 3 received compensation from the organization, the highest $243,929 (SAMMY CLEMENTS, CEO).
How much revenue does TVA COMMUNITY CREDIT UNION have?
On its 990 for the year ended December 31, 2025 it reported revenue of $18,525,304, expenses of $13,475,459 and total assets of $416,169,359 at year end.

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