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Nonprofit · EIN 63-0355713

FAMILY SAVINGS CREDIT UNION

Tax-exempt · RAINBOW CITY, AL 35906

Financials

$68.1M$58M2023$83.4M$76M2024
Revenue Expenses · by fiscal year end
Financials of FAMILY SAVINGS CREDIT UNION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$83,393,539$76,035,896$7,357,643$1,043,596,288$953,464,409$90,131,879
December 31, 2023990$68,085,407$57,951,006$10,134,401$965,802,595$882,528,528$83,274,067
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$0
Program service revenue
$53,293,292
Investment income
$6,270,911
Royalties
$122,768
Net gain from sales of assets
-$129,640
Other revenue
$23,829,336

Expenses

Grants and similar amounts paid
$15,000
Compensation of officers, directors and key employees
$2,174,199
Other salaries and wages
$15,587,302
Salaries, compensation and benefits (total)
$24,834,308
Professional fundraising fees
$0
Legal fees
$67,320
Accounting fees
$121,404
Occupancy
$869,410
Travel
$239,195
Depreciation
$2,674,201

Balance sheet and other

Total assets, start of year
$965,802,595
Total assets, end of year
$1,043,596,288
Total liabilities, end of year
$953,464,409
Net assets, end of year
$90,131,879
Land, buildings and equipment
$27,537,010
Publicly traded securities
$10,754,373
Gross unrelated business income
$259,105
Gross receipts
$86,024,200
Employees
218
Volunteers
12
Year formed
1951
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
JOHN RIDDLECOMMERCIAL LENDER
Highest-paid employee
38$725,187$33,830
DANNY VARNONPRESIDENT/CEO
Officer
38$567,097$58,356
CURTIS LETSONEXECUTIVE VICE PRESIDENT
Officer
38$341,487$66,884
AMY JACKSONMORTGAGE SERVICES DIRECTOR
Highest-paid employee
38$323,058$54,097
DEBORAH GRAYCHIEF FINANCIAL OFFICER
Officer
38$303,179$60,992
ROBERT RAYBURNCHIEF LENDING OFFICER
Officer
38$283,478$54,770
MARCIE RIDDLEDIRECTOR OF BUSINESS SERVI
Highest-paid employee
38$161,462$85,802
CHELSEA MCCARYCOMMERCIAL LOAN ASSISTANT
Highest-paid employee
38$182,904$45,564
JONATHAN ROLANDCHEIF INFORMATION OFFICER
Officer
38$169,364$57,740
LESLI BISHOPCHIEF MARKETING OFFICER
Officer
38$167,796$43,056
BRANDON HESTERCOMMERICAL LOAN UNDERWRITER
Highest-paid employee
38$124,571$31,210
HACKY JAGGERSSECRETARY
Trustee or director
2$1,116$0
LP WILLIAMSONBOARD CHAIR
Trustee or director
2$0$0
BILL WILLARDVICE CHAIRMAN
Trustee or director
2$0$0
WALLY BURNSDIRECTOR
Trustee or director
2$0$0
3 more people on this return
NameTitleHours / weekCompensation
RANDEL MOUNTAINDIRECTOR
Trustee or director
2$0
RONNIE REEDDIRECTOR
Trustee or director
2$0
JAMES WILKESTREASURER
Trustee or director
2$0
990 for the year ended December 31, 2023: 18 people
NameTitleHours / weekCompensationOther / benefits
JOHN RIDDLECOMMERCIAL LENDER
Highest-paid employee
38$745,100$46,909
DANNY VARNONPRESIDENT
Officer
38$519,905$58,818
CURTIS LETSONEXECUTIVE VICE PRESIDENT
Officer
38$313,601$56,739
DEBORAH GRAYCHIEF FINANCIAL OFFICER
Officer
38$282,185$79,432
ROBERT RAYBURNCHIEF LENDING OFFICER
Officer
38$283,534$56,224
AMY JACKSONMORTGAGE SERVICES DIRECTOR
Highest-paid employee
38$273,891$53,498
LESLI BISHOPCHIEF MARKETING OFFICER
Officer
38$158,946$39,792
JONATHAN ROLANDCHEIF INFORMATION OFFICER
Officer
38$152,902$35,013
MARCIE RIDDLEDIRECTOR OF BUSINESS SERVICES
Highest-paid employee
38$143,163$36,179
CHELSEA MCCARYCOMMERCIAL LOAN ASSISTANT
Highest-paid employee
38$134,063$39,943
SCOTTY BELLREGIONAL OPERATIONS DIRECTOR
Highest-paid employee
38$115,967$35,132
HACKY JAGGERSSECRETARY
Trustee or director
2$1,877$0
LP WILLIAMSONBOARD CHAIR
Trustee or director
2$0$0
BILL WILLARDVICE CHAIRMAN
Trustee or director
2$0$0
WALLY BURNSDIRECTOR
Trustee or director
2$0$0
RANDEL MOUNTAINDIRECTOR
Trustee or director
2$0$0
RONNIE REEDDIRECTOR
Trustee or director
2$0$0
JAMES WILKESTREASURER
Trustee or director
2$0$0

Address and contacts

Address (IRS master file)
205 RESCIA AVE, RAINBOW CITY, AL 35906-5932
In care of
% DANNY VARNON
Principal officer (990 for 2024)
DEBBIE GRAY, 205 RESCIA AVENUE, RAINBOW CITY, AL 35906
Signed the 990
DEBBIE GRAY, CFO
Phone
(256) 547-8190
Return prepared by
BMSS LLC

Mission

TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS.

990 for the year ended December 31, 2024

Program accomplishments

  • 76,476 MEMBERS SERVED TO PROMOTE THRIFT OPPORTUNITIES AND LOW COST LOANS

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
63-0355713
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)
$1,043,596,288
Income (IRS master file)
$86,024,200

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$83,393,539$76,035,896$1,043,596,288XML
990December 2023$68,085,407$57,951,006$965,802,595XML
990December 2022$50,899,243$41,445,214$756,761,608IRS
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 63-0355713).

Questions about FAMILY SAVINGS CREDIT UNION

What is the EIN of FAMILY SAVINGS CREDIT UNION?
The employer identification number (EIN) of FAMILY SAVINGS CREDIT UNION is 63-0355713.
Is FAMILY SAVINGS CREDIT UNION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1971.
Are donations to FAMILY SAVINGS CREDIT UNION tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does FAMILY SAVINGS 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 FAMILY SAVINGS 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 FAMILY SAVINGS 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 FAMILY SAVINGS CREDIT UNION?
The 990 for the year ended December 31, 2024 names DEBBIE GRAY.
Who are the officers and directors of FAMILY SAVINGS CREDIT UNION?
The 990 for the year ended December 31, 2024 lists 18 people; 12 received compensation from the organization, the highest $725,187 (JOHN RIDDLE, COMMERCIAL LENDER).
How much revenue does FAMILY SAVINGS CREDIT UNION have?
On its 990 for the year ended December 31, 2024 it reported revenue of $83,393,539, expenses of $76,035,896 and total assets of $1,043,596,288 at year end.

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