2023-11-14T12:15:47-06:00 2022-12-31 454084437 WARREN AVERETT LLC 350 W CEDAR STREET SUITE 400 PENSACOLA FL 32502 990 2022-01-01 580960142 FIVE STAR CREDIT UNION FIVE 3347937714 5105 MONTGOMERY HWY DOTHAN AL 36303 LANDON WILDES VP/CFO 3347937714 2023-11-14 1 LANDON WILDES 999009999 0 CLAIRE C DUREN CPA P01577924 8504357400 2023-11-14 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z ROBERT A STEENSMA 5105 MONTGOMERY HWY DOTHAN AL 36303 44913245 0 X WWW.FIVESTARCU.COM X STATE CHARTERED CREDIT UNION 1964 AL THE CREDIT UNION PROVIDES FINANCIAL PRODUCTS AND SERVICES TO ITS MEMBERS. 9 9 192 9 268557 0 0 0 15860127 18378054 3363029 5886617 18768230 20643577 37991386 44908248 315914 508380 0 0 11177189 11872918 0 0 0 16283746 20369917 27776849 32751215 10214537 12157033 661046497 748664965 585967942 684977348 75078555 63687617 X THE CREDIT UNION IS A COOPERATIVE ASSOCIATION WHICH WAS ORGANIZED TO PROMOTE THRIFT AMONG ITS MEMBERS AS WELL AS TO PROVIDE THEM WITH A SOURCE OF CREDIT. FIVE STAR SERVES MEMBERS IN COUNTIES IN THE SOUTHEAST REGION OF ALABAMA AND IN SOUTHEAST AND SOUTHWEST GEORGIA. THE TOTAL NUMBER OF MEMBERS SERVED IS IN EXCESS OF 55,000. 0 0 IN OUR EFFORTS TO PROMOTE THRIFT AMONG OUR MEMBERS, FIVE STAR PROVIDES COMPETITIVE SAVINGS PRODUCTS, WHICH INCLUDE SAVINGS, CHECKING, AND CERTIFICATE OF DEPOSIT ACCOUNTS AS WELL AS IRA SAVINGS AND CERTIFICATE OF DEPOSIT ACCOUNTS. TO MEET THE FINANCIAL NEEDS OF OUR MEMBERS, FIVE STAR PROVIDES A SOURCE OF CREDIT BY OFFERING A VARIETY OF CONSUMER AND MORTGAGE LENDING PRODUCTS AT REASONABLE RATES OF INTEREST. 0 0 1 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 1 11259 0 1 192 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 0 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X ROBERT A STEENSMA 3347937714 5105 MONTGOMERY HWY DOTHAN AL 36303 SUZANN CULPEPPER SECRETARY 1.00 X X 0 0 0 WALLACE JOHNSON CHAIRMAN 1.00 X X 0 0 0 HAROLD STEPLER DIRECTOR 1.00 X 0 0 0 JANICE GREEN TREASURER 1.00 X X 0 0 0 PAMELA SCOTT DIRECTOR 1.00 X 0 0 0 CORY DRIGGERS VICE CHAIRMAN 1.00 X X 0 0 0 MICHAEL FARRIS DIRECTOR 1.00 X 0 0 0 WHIT HUSKEY DIRECTOR 1.00 X 0 0 0 BOBBY SWAN DIRECTOR 1.00 X 0 0 0 ROBERT A STEENSMA PRESIDENT/CEO 40.00 X 664484 0 34695 TYLER BECK SVP/COO 40.00 X 320386 0 34212 LANDON WILDES VP/CFO 40.00 X 161022 0 14645 MICHAEL MACHOWICZ VP/CIO 40.00 X 222227 0 26761 FABIO BIASELLA SVP/CMO 40.00 X 179147 0 11653 DEBORAH MCRAE VP RISK MANAGEMENT 40.00 X 174050 0 7966 LANCE WAGNER VP LENDING 40.00 X 172193 0 28841 MIKE BRIDGES VP-MARKETING/COMMUNICATION 40.00 X 162222 0 28452 CANDICE WHITE MORTGAGE LOAN ORIGINATOR 40.00 X 191898 0 29459 PAM PETTIS DIRECTOR - HUMAN RESOURCES 40.00 X 140291 0 26976 BOBBY LANDWEHR DIRECTOR - COMMERCIAL LEND 40.00 X 134315 0 21192 CHRISTOPHER LATTA DIRECTOR - CONSUMER LENDIN 40.00 X 152401 0 23776 JASON SHANKS VP, BUSINESS INTELLIGENCE 40.00 X 176036 0 17487 2850672 0 306115 18 0 1 0 0 INTEREST ON LOANS 522100 18378054 18378054 18378054 5874114 5874114 17500 4997 12503 12503 12503 FEES AND SERVICE CHARGES 522100 19990976 19990976 CORPORATE CAPITAL RECOVERY 522100 384044 384044 ATM FOREIGN FEE INCOME 522100 268557 268557 20643577 44908248 38753074 268557 5886617 508380 1669231 7084767 442343 1951488 725089 52576 134163 914054 509219 1585117 806877 893464 399924 92360 4062708 1923122 199396 ATM AND DEBIT CARD EXPE 3402069 PROVISION FOR LOAN LOSS 2914114 LOAN SERVICING EXPENSE 1100047 ONLINE BANKING EXPENSES 409828 970879 32751215 12048697 11436132 50092916 35974168 6836095 8409196 10626863 10745879 335378368 381799154 1259352 1409106 41651074 10326365 27054045 31324709 179498050 229482223 11869154 12983647 26382957 25100751 661046497 748664965 7465905 11525584 81667 46667 65000000 578420370 608405097 585967942 684977348 X 0 0 0 0 75078555 63687617 75078555 63687617 661046497 748664965 12157033 -23547971 0 X X 0 1 X 1 0 6500 1500 1500 1 STATE ACULAC 22 INVERNESS PARKWAY STE 200 BIRMINGHAM AL 35242 521681138 1000 ALABAMA BUILDERS PAC PO BOX 9791 DOTHAN AL 36304 630763822 500 PART I-A, LINE 1: ACULAC IS THE POLITICAL ACTION COMMITTEE FOR THE LEAGUE OF SOUTHEASTERN CREDIT UNIONS, OUR STATE TRADE ASSOCIATION. FUNDS ARE USED TO SUPPORT POLITICAL CANDIDATES AND PARTIES AT THE STATE LEVEL. AMONG THOSE ELIGIBLE TO RECEIVE SUPPORT FROM ACULAC ARE CANDIDATES FOR THE ALABAMA HOUSE OF REPRESENTATIVES, ALABAMA SENATE, GOVERNOR, LT. GOVERNOR, ATTORNEY GENERAL, SECRETARY OF STATE, STATE TREASURER, STATE PARTY COMMITTEES, LEADERSHIP PACS (WHERE APPLICABLE) AND LOCAL RACES. FIVE STAR ALSO DONATED FUNDS TO THE POLITICAL CAMPAIGNS FOR TWO INDIVIDUALS RUNNING FOR ALABAMA STATE AND LOCAL OFFICES. 6197735 6197735 23125179 4447072 18678107 197371 91449 105922 11002376 5570622 5431754 1128413 217222 911191 31324709 MEMBER SHARE DEPOSITS 608405097 608405097 X 44908248 0 44908248 0 44908248 32751215 0 32751215 0 32751215 PART X, LINE 2: EFFECTIVE JANUARY 1, 2009, THE CREDIT UNION IMPLEMENTED THE NEW ACCOUNTING REQUIREMENTS ASSOCIATED WITH UNCERTAINTY IN INCOME TAXES USING THE PROVISIONS OF FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ASC 740, INCOME TAXES. USING THAT GUIDANCE, TAX POSITIONS INITIALLY NEED TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS WHEN IT IS MORE-LIKELY-THAN-NOT THE POSITIONS WILL BE SUSTAINED UPON EXAMINATION BY THE TAX AUTHORITIES. IT ALSO PROVIDES GUIDANCE FOR DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE AND TRANSITION. AS OF DECEMBER 31, 2022, THE CREDIT UNION HAD NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. ADDITIONALLY, THE CREDIT UNION HAD NO INTEREST AND PENALTIES RELATED TO INCOME TAXES. 1 FIVE STAR CREDIT UNION FOUNDATION 5105 MONTGOMERY HWY DOTHAN AL 36303 844465279 501(C)(3) 508380 0 CONTINUED FUNDING OF FOUNDATION 1 X 1 1 X X X 0 1 0 ROBERT A STEENSMA PRESIDENT/CEO 465534 0 198950 0 0 0 12200 0 22495 0 699179 0 0 0 TYLER BECK SVP/COO 242812 0 77574 0 0 0 12200 0 22012 0 354598 0 0 0 MICHAEL MACHOWICZ VP/CIO 175673 0 46554 0 0 0 4900 0 21861 0 248988 0 0 0 CANDICE WHITE MORTGAGE LOAN ORIGINATOR 58167 0 133731 0 0 0 7961 0 21498 0 221357 0 0 0 LANCE WAGNER VP LENDING 153087 0 19106 0 0 0 6925 0 21916 0 201034 0 0 0 JASON SHANKS VP, BUSINESS INTELLIGENCE 150577 0 25459 0 0 0 0 0 17487 0 193523 0 0 0 FABIO BIASELLA SVP/CMO 120192 0 58955 0 0 0 0 0 11653 0 190800 0 0 0 MIKE BRIDGES VP-MARKETING/COMMUNICATION 138362 0 23860 0 0 0 6703 0 21749 0 190674 0 0 0 DEBORAH MCRAE VP RISK MANAGEMENT 137092 0 36958 0 0 0 7596 0 370 0 182016 0 0 0 CHRISTOPHER LATTA DIRECTOR - CONSUMER LENDIN 119192 0 33209 0 0 0 6289 0 17487 0 176177 0 0 0 LANDON WILDES VP/CFO 132000 0 29022 0 0 0 6529 0 8116 0 175667 0 0 0 PAM PETTIS DIRECTOR - HUMAN RESOURCES 117635 0 22656 0 0 0 5795 0 21181 0 167267 0 0 0 BOBBY LANDWEHR DIRECTOR - COMMERCIAL LEND 126231 0 8084 0 0 0 3683 0 17509 0 155507 0 0 0 PART I, LINE 4B IN 2017, THE CREDIT UNION ENTERED INTO A COLLATERAL ASSIGNMENT SPLIT-DOLLAR LIFE INSURANCE ARRANGEMENT WITH ROBERT A. STEENSMA, PRESIDENT/CEO. THE PREMIUMS ON THE POLICIES WERE FUNDED BY THE CREDIT UNION THROUGH A LOAN TO THE PRESIDENT/CEO FOR $9,500,000. INTEREST WILL ACCRUE TO THE LOAN ANNUALLY. ROBERT A STEENSMA PRESIDENT/CEO TO PAY THE PREMIUMS OF COLLATERAL ASSIGNMENT SPLIT-DOLLAR LIFE INSURANCE X 9500000 10745879 0 1 1 10745879 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS OWNED BY ITS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A BOARD MEMBERS ARE ELECTED BY A VOTE OF THE GENERAL MEMBERSHIP. BOARD MEMBERS ARE ELECTED FOR A THREE-YEAR TERM. THE TERM EXPIRATIONS ALTERNATE SO THAT ONLY TWO OR THREE BOARD MEMBERS ARE UP FOR REELECTION EACH YEAR. THE MEMBERSHIP IS NOTIFIED OF THE ELECTION THROUGH NOTICES IN THE BRANCHES AND THROUGH MAILED BALLOTS. AN INDEPENDENT TELLER SERVICE IS HIRED TO TABULATE THE RESULTS. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED BY THE COO AND CEO PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY IS MONITORED BY THE HUMAN RESOURCES MANAGER. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS PERFORMS AN ANNUAL PERFORMANCE REVIEW OF THE CEO. THE EXECUTIVE COMPENSATION COMMITTEE ENGAGES DHILTON TO PROVIDE CURRENT COMPENSATION DATA FOR COMPARISONS AND RECOMMENDS A PERCENTAGE CHANGE TO THE ENTIRE BOARD OF DIRECTORS FOR APPROVAL. THE CEO ALSO PERFORMS AN ANNUAL PERFORMANCE REVIEW AND ENGAGES DHILTON FOR CURRENT DATA TO USE IN DETERMINING COMPENSATION CHANGES TO SVP'S AND OTHER KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S FINANCIAL STATEMENTS ARE POSTED IN EACH OF THE BRANCHES MONTHLY FOR MEMBERS TO REVIEW. GOVERNING DOCUMENTS AND POLICIES ARE AVAILABLE UPON REQUEST. PART XII, FINANCIAL STATEMENTS AND REPORTING, LINE 2C THE CREDIT UNION DID NOT CHANGE ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. FIVE STAR CREDIT UNION FOUNDATION 5105 MONTGOMERY HWY DOTHAN AL 36303 844465279 CHARITABLE, EDUCATION, COMMUNITY DETERIORATION AL 501(C)(3) PF 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 FIVE STAR CREDIT UNION FOUNDATION B 508380 CASH VALUE