Fort Mcclellan Credit Union

Nonprofit profile at a glance

EIN
630346919
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Anniston, AL, USA
Phone
2562372113
Rating
87
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$10,945,702
Expenses
$11,616,451
Assets
$219,592,573
Liabilities
$202,515,016

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

21 people listed

Executive titles in this filing

  • ANGELA SMITH (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • ANGELA SMITH (CHIEF EXECUTIVE OFFICER): $193,973 total reported compensation
  • JOHN TERRANO (CHIEF OPERATING OFFICER/HR): $165,318 total reported compensation
  • TRENT BARNETT (CHIEF FINANCIAL OFFICER): $150,928 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

This credit union is a voluntary, cooperative, non-profit financial institution, chartered under the Alabama credit union act (code of Alabama, 1975, title 5 chapter 17). Its primary purpose is the encouragement of thrift, the creation of a source of credit at fair and reasonable rates of interest, and the provision of opportunities for its members to control their own money in order to improve their economic and social condition.

What it reported doing in 2024

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. Fort mcclellan credit union, an Alabama state chartered credit union, provides these services to its members. The credit union's field of membership includes primarily persons who live, work, worship, or attend school in calhoun, cleburne, talladega, clay, randolph, cherokee, etowah, st. Clair, and chambers counties, Alabama; city, county state, and federal employees living or working in st. Clair and etowah counties; national guard and us army reserve personnel within the trade area of fmcu; and their relatives. As of december 31, 2024, the credit union had membership and provided services to approximately 15,477 members.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 94
  • Accountability: 82
  • Sustainability: 42
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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; 66th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -6.1%; rating input score 15; 15th percentile among comparable filings
  • Total-asset coverage ratio: 18.9; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.92; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 5.3%; rating input score 48; 48th percentile among comparable filings

Growth

  • Program expense growth: 10.8% per year; rating input score 100; 73rd percentile among comparable filings
  • Revenue growth: 3.3% per year; rating input score 100; 28th percentile among comparable filings
  • Asset growth: 2.3% per year; rating input score 100; 19th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 9 of 9 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $11.6M in reported program spending
  • Leadership: top reported pay $194K · 21 people listed · 5 of 6 pay-setting controls reported
  • Consistency: 27 of 27 current checks pass
  • Schedules: 5 filed schedules · includes 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: 1 filed related-organization link
  • 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: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 15/100.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.
  • Moderate — Sustainability: Officer compensation ratio scored 48/100.