Alabama One Credit Union
Nonprofit profile at a glance
- EIN
- 630353833
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Tuscaloosa, AL, USA
- Phone
- 2057591595
- Rating confidence
- Limited
Reported finances
- Revenue
- $79,240,379
- Expenses
- $75,340,161
- Assets
- $1,326,232,250
- Liabilities
- $1,240,294,577
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
29 people listed
Executive titles in this filing
- WILLIAM C WELLS (CEO)
Highest reported compensation
- WILLIAM C WELLS (CEO): $964,740 total reported compensation
- WHITNEY OSWALT (CFO): $553,813 total reported compensation
- SHELBY GRANTHAM (SENIOR DIRECTOR OF OPERATIONS (TERM END 2024)): $461,032 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
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.
What it reported doing in 2024
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.
Operating model
- Revenue model
- Earned-program. 100% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 88
- Accountability: 91
- Sustainability: 57
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 90.9%; rating input score 91; 6th percentile among comparable filings
- Pay-setting controls: 5 of 6 controls in place; rating input score 83
- Compensation committee: Pass
- Independent consultant: Pass
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 87.1%; rating input score 87; 20th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
- Governance controls: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Fail
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 4.9%; rating input score 56; 56th percentile among comparable filings
- Total-asset coverage ratio: 17.6; rating input score 96; 96th percentile among comparable filings
- Liabilities to assets ratio: 0.94; rating input score 10; 10th percentile among comparable filings
- Officer compensation ratio: 5.8%; rating input score 12; 12th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 7.7% per year; rating input score 100; 65th percentile among comparable filings
- Asset growth: 6.3% per year; rating input score 100; 46th percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 14 of 14 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $75.3M in reported program spending
- Leadership: top reported pay $965K · 29 people listed · 5 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $4.4M reported
- Consistency: 12 of 13 current checks pass · 1 finding to review
- Schedules: 6 filed schedules · includes grants and executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 13 filed money-flow records
- Related organizations: 6 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- Review — Sustainability: Operating margin scored 56/100.
- High — Sustainability: Liabilities to assets ratio scored 10/100.
- High — Sustainability: Officer compensation ratio scored 12/100.