Emblem Credit Union
Nonprofit profile at a glance
- EIN
- 636046132
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Gadsden, AL, USA
- Phone
- 2565437040
- Rating confidence
- Limited
Reported finances
- Revenue
- $33,680,669
- Expenses
- $30,233,481
- Assets
- $566,922,579
- Liabilities
- $513,313,521
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
17 people listed
Executive titles in this filing
- RON SUMMERALL (PRESIDENT/CEO - RETIRED DECEMBER 2024)
- JEFF NAPPER (VICE PRESIDENT/CFO, CEO - STARTING JANUARY 2025)
Highest reported compensation
- RON SUMMERALL (PRESIDENT/CEO - RETIRED DECEMBER 2024): $764,236 total reported compensation
- JD HOLT (FINANCIAL ADVISOR): $529,364 total reported compensation
- JEFF NAPPER (VICE PRESIDENT/CFO, CEO - STARTING JANUARY 2025): $272,514 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 teachers credit union, an Alabama state chartered credit union, was established to provide these services to its members who are employees, and their relatives, of the public schools located in etowah, dekalb, marshall, cherokee, and calhoun counties. The credit union's field of membership also includes selected employee groups and individuals that reside in these counties. As of december 31, 2024, the credit union provided services to approximately 30,573 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: 63
- Accountability: 91
- Sustainability: 65
- 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; 4th percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 29.7%; rating input score 30; 9th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 66th 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: Fail
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 10.2%; rating input score 68; 68th percentile among comparable filings
- Total-asset coverage ratio: 18.75; rating input score 96; 96th percentile among comparable filings
- Liabilities to assets ratio: 0.91; rating input score 9; 9th percentile among comparable filings
- Officer compensation ratio: 7.4%; rating input score 33; 33rd percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 7.5% per year; rating input score 100; 62nd percentile among comparable filings
- Asset growth: 7.9% per year; rating input score 100; 54th percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 7 of 7 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $30.2M in reported program spending
- Leadership: top reported pay $764K · 17 people listed · 3 of 6 pay-setting controls reported
- Consistency: 12 of 13 current checks pass · 1 finding to review
- Schedules: 4 filed schedules · includes grants and executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 8 filed money-flow records
- 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Transparency & Controls: Grant itemization coverage scored 30/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- High — Sustainability: Liabilities to assets ratio scored 9/100.
- Moderate — Sustainability: Officer compensation ratio scored 33/100.