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Nonprofit · EIN 63-0348156

ALABAMA STATE EMPLOYEES CREDIT UNION

Tax-exempt · MONTGOMERY, AL 36106

Financials

$27M$23.1M2023$28.8M$27.1M2024
Revenue Expenses · by fiscal year end
Financials of ALABAMA STATE EMPLOYEES CREDIT UNION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$28,846,539$27,090,163$1,756,376$409,170,750$366,996,090$42,174,660
December 31, 2023990$27,023,139$23,079,652$3,943,487$398,307,514$359,408,853$38,898,661
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$0
Program service revenue
$18,532,612
Investment income
$2,806,681
Other revenue
$7,507,246

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$836,215
Other salaries and wages
$7,188,217
Salaries, compensation and benefits (total)
$9,712,505
Professional fundraising fees
$0
Legal fees
$27,427
Accounting fees
$62,000
Occupancy
$569,754
Travel
$175,791
Depreciation
$811,229

Balance sheet and other

Total assets, start of year
$398,307,514
Total assets, end of year
$409,170,750
Total liabilities, end of year
$366,996,090
Net assets, end of year
$42,174,660
Land, buildings and equipment
$10,215,940
Publicly traded securities
$64,500,054
Gross receipts
$28,846,539
Employees
144
Volunteers
12
Year formed
1954
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, 2024, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
JASON DEANCEO/CFO
Officer
40$227,439$43,639
JOHN DAVID LAMBERTCIO
Key employee
40$164,494$43,375
ALESIA DOOLEYCFO
Officer
40$132,760$52,014
SHANNON WATKINSINTERIM CEO
Officer
40$148,646$23,849
PERRY TAYLORDIRECTOR
Trustee or director
2$4,500$0
BOBBY BRYANDIRECTOR
Trustee or director
2$1,160$0
SCOTT GRIERDIRECTOR
Trustee or director
2$1,126$0
TIM HATCHDIRECTOR
Trustee or director
2$796$0
LORRAINE DERAMUSDIRECTOR
Trustee or director
2$650$0
CAROL J PRESTONBOARD PRESIDENT
Trustee or director
2$0$0
JOHN PHILIP GRAYBOARD VICE-PRESIDENT
Trustee or director
2$0$0
MELINDA CLACKBOARD SECRETARY
Trustee or director
2$0$0
SHARON MILLSBOARD TREASURER
Trustee or director
2$0$0
JOHN TYLER GRAYDIRECTOR
Trustee or director
2$0$0
CLAUDIA SMITHDIRECTOR
Trustee or director
2$0$0
1 more people on this return
NameTitleHours / weekCompensation
CHARLIE LASSITERDIRECTOR
Trustee or director
2$0
990 for the year ended December 31, 2023: 13 people
NameTitleHours / weekCompensationOther / benefits
JASON DEANCEO/CFO
Officer
40$246,105$42,552
ALESIA DOOLEYCFO
Officer
40$103,362$15,757
ALESIA DOOLEYSECRETARY
Trustee or director
1$0$0
KENNETH BLANKENSHIPDIRECTOR
Trustee or director
1$0$0
PERRY TAYLORDIRECTOR
Trustee or director
1$0$0
CAROL J PRESTONPRESIDENT
Trustee or director
1$0$0
JOHN P GRAYVICE PRESIDENT
Trustee or director
1$0$0
JOHN T GRAYDIRECTOR
Trustee or director
1$0$0
BOBBY BRYANDIRECTOR
Trustee or director
1$0$0
TIM HATCHDIRECTOR
Trustee or director
1$0$0
SHARON MILLSTREASURER
Trustee or director
1$0$0
MELINDA CLACKDIRECTOR
Trustee or director
1$0$0
CHARLIE LASSITERDIRECTOR
Trustee or director
1$0$0

Address and contacts

Address (IRS master file)
4217 LOMAC ST, MONTGOMERY, AL 36106-2816
Principal officer (990 for 2024)
SHANNON WATKINS, 1000 INTERSTATE PARK DRIVE, MONTGOMERY, AL 36109
Signed the 990
SHANNON WATKINS, INTERIM CEO
Phone
(800) 634-9171
Return prepared by
WARREN AVERETT LLC

Mission

THE CREDIT UNION'S MISSION IS TO PROMOTE THRIFT AMONG ITS MEMBERS AND CREATE A SOURCE OF CREDIT FOR THEM AT LEGITIMATE RATES OF INTEREST. THE CREDIT UNION SERVES MEMBERS IN THE MONTGOMERY, ALABAMA AREA AND SURROUNDING COUNTIES. THE TOTAL NUMBER OF MEMBERS IS IN EXCESS OF 43,000.

990 for the year ended December 31, 2024

Program accomplishments

  • IN OUR EFFORTS TO PROMOTE THRIFT AMONG OUR MEMBERS, THE CREDIT UNION PROVIDES COMPETITIVE SAVINGS PRODUCTS, WHICH INCLUDE SAVINGS, CHECKING, AND SHARE CERTIFICATES ACCOUNTS AS WELL AS IRA SAVINGS.
  • TO MEET THE FINANCIAL NEEDS OF OUR MEMBERS, THE CREDIT UNION PROVIDES A SOURCE OF CREDIT BY OFFERING A VARIETY OF CONSUMER AND MORTGAGE LENDING PRODUCTS AT COMPETITIVE RATES OF INTEREST.
  • THE CREDIT UNION OFFERS FINANCIAL SERVICES TO THE BENEFIT OF OUR MEMBERS WHICH INCLUDE: INTERNET BANKING, ONLINE BILLPAY AND SERVICE CENTER LOCATIONS.

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, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
63-0348156
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)
$409,170,750
Income (IRS master file)
$28,846,539

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$28,846,539$27,090,163$409,170,750XML
990December 2023$27,023,139$23,079,652$398,307,514XML
990December 2022$23,220,315$19,643,903$417,583,945IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS
990December 2017–––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 63-0348156).

Questions about ALABAMA STATE EMPLOYEES CREDIT UNION

What is the EIN of ALABAMA STATE EMPLOYEES CREDIT UNION?
The employer identification number (EIN) of ALABAMA STATE EMPLOYEES CREDIT UNION is 63-0348156.
Is ALABAMA STATE EMPLOYEES CREDIT UNION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1971.
Are donations to ALABAMA STATE EMPLOYEES CREDIT UNION tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does ALABAMA STATE EMPLOYEES 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 ALABAMA STATE EMPLOYEES CREDIT UNION due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did ALABAMA STATE EMPLOYEES CREDIT UNION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of ALABAMA STATE EMPLOYEES CREDIT UNION?
The 990 for the year ended December 31, 2024 names SHANNON WATKINS.
Who are the officers and directors of ALABAMA STATE EMPLOYEES CREDIT UNION?
The 990 for the year ended December 31, 2024 lists 16 people; 9 received compensation from the organization, the highest $227,439 (JASON DEAN, CEO/CFO).
How much revenue does ALABAMA STATE EMPLOYEES CREDIT UNION have?
On its 990 for the year ended December 31, 2024 it reported revenue of $28,846,539, expenses of $27,090,163 and total assets of $409,170,750 at year end.

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