Credit Unions in the State of Alabama
Nonprofit profile at a glance
- EIN
- 630365393
- IRS 990 coverage
- 2008–2008
- Forms available
- Form 990 2008
- Location
- Montgomery, AL, USA
- Phone
- 3348344494
- Rating confidence
- Limited
- Sector
- Public, Societal Benefit
Reported finances
- Revenue
- $5,185,995
- Expenses
- $5,114,209
- Assets
- $56,336,882
- Liabilities
- $52,188,612
Source: IRS Form 990. Selected filing: tax year 2008. Amounts in USD.
Leadership & pay
4 people listed
Source: IRS Form 990. Selected filing: tax year 2008. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Code of Alabama, sec 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. Comala credit union, an Alabama chartered credit union, was established to provide these services to its members who are primarily employees and their relatives of the city of montgomery, Alabama. The credit union's field of membership also includes selected employer groups and individuals located in montgomery, autauga, butler and elmore counties. As of december 31, 2008, the credit union provided services to approximately 15,000 members.
What it reported doing in 2008
Financial service fees and other operating income
Operating model
- Revenue model
- Earned-program. 95% 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: 90
- Accountability: 95
- Sustainability: NotEnoughData
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100
- Governance controls: 7 of 8 controls in place; rating input score 88
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: Limited
- Total-asset coverage ratio: Limited
- Liabilities to assets ratio: Limited
- Officer compensation ratio: Limited
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 14606 of 14606 board members independent · 7 of 8 filing controls reported
- Programs: 3 filed program accomplishments
- Leadership: top reported pay $90K · 4 people listed
- Consistency: 12 of 12 current checks pass
- Schedules: 3 filed schedules
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Review — Accountability: Governance controls: Whistleblower policy not reported.