2023-11-01T09:59:26-05:00 2022-12-31 582475857 NICHOLS CAULEY & ASSOCIATES LLC 1825 BARRETT LAKES BLVD NW SUITE 200 KENNESAW GA 30144 990 2022-01-01 581097538 CREDIT UNION OF ATLANTA CRED 4046586465 670 METROPOLITAN PARKWAY ATLANTA GA 30310 DEBRA COLLINS CEO 4046586465 2023-10-30 1 DEBRA COLLINS XXX-XX-XXXX 0 DAVID L MUSSER CPA P00107157 7704220598 2023-10-30 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z DEBRA COLLINS 670 METROPOLITAN PARKWAY ATLANTA GA 30310 5702200 0 X WWW.CUATLANTA.ORG X 1928 GA TO PROVIDE THRIFT SAVINGS AND BORROWINGS TO MEMBERS. 9 9 52 0 0 0 0 0 2041481 1908289 219964 620216 4679010 3165249 6940455 5693754 0 0 68222 74934 2068098 2035786 0 0 0 2783575 3013306 4919895 5124026 2020560 569728 87956242 82573994 78308903 75261428 9647339 7312566 TO PROVIDE THRIFT SAVINGS AND BORROWINGS TO MEMBERS. 0 0 TO PROVIDE THRIFT SAVINGS AND BORROWINGS TO MEMBERS. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 748 0 1 52 1 1 1 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 0 1 1 1 1 0 1 0 1 0 GA X DEBRA COLLINS 4046586465 670 METROPOLITAN PARKWAY ATLANTA GA 30310 MELISSA DAVIS VICE CHAIR 15.00 X 0 0 0 CHARLES BELL DIRECTOR 15.00 X 0 0 0 WILLIE M CANIDATE DIRECTOR 15.00 X 0 0 0 REGGIE GRANT CHAIRMAN OF THE BOARD 25.00 X 0 0 0 CALVIN TUCKER DIRECTOR 15.00 X 0 0 0 ALFRED BERRY JR DIRECTOR 15.00 X 0 0 0 ANTHONY NICKS DIRECTOR 15.00 X 0 0 0 LANITA WILLIAMS SECRETARY/TREASURER 15.00 X 0 0 0 ROSALIND RUBENS NEWELL DIRECTOR 15.00 X 0 0 0 ALLEN UPCHURCH CEO 55.00 X 139026 0 0 139026 0 0 1 0 0 0 0 INTEREST ON LOANS TO M 522100 1908289 1908289 1908289 628662 628662 8446 -8446 -8446 -8446 FEES & CHARGES 522100 1822919 1822919 OTHER INCOME 522100 1342330 1342330 3165249 5693754 5073538 0 620216 74934 1629890 45076 235271 125549 42189 74578 447079 36982 1367417 65149 139570 18282 38401 144827 100520 LOAN SERVICING EXPENSE 255187 PROVISION FOR LOAN LOSS 233926 OTHER EXPENSES 29905 MISCELLANEOUS EXPENSES 19294 5124026 2064735 2384547 44777287 36154948 402858 499233 37800410 40561712 471027 524419 3651294 2217744 1521888 1433550 918037 1015585 87956242 82573994 522125 579971 77786778 74681457 78308903 75261428 X 0 0 0 0 9647339 7312566 9647339 7312566 87956242 82573994 X 569728 -2904501 X 0 1 X 0 0 210571 210571 2087254 1305360 781894 446143 330229 115914 907326 582155 325171 1433550 MEMBER SHARES & DEPOSITS 73949393 ATM IN TRANSIT 670504 TAXES PAYABLE 3551 OTHER LIABILITIES 58009 74681457 X 5693754 0 5693754 0 5693754 5124026 0 5124026 0 5124026 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL INCOME TAXES. THE INTERNAL REVENUE SERVICE (IRS) HAS ISSUED A CLARIFICATION IN THE FORM OF A TECHNICAL ADVICE MEMORANDUM (TAM'S) ON THE ISSUE OF UNRELATED BUSINESS INCOME TAX (UBIT). THE IRS HAS INDICATED THIS MEMORANDUM WILL CLARIFY ITS POSITION ON WHAT TYPES OF REVENUE ARE SUBJECT TO UBIT. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME DERIVED BY STATE-CHARTERED CREDIT UNIONS. MANY STATES HAVE SIMILAR LAWS RELATED TO VARIOUS ACTIVITIES CONDUCTED BY STATE-CHARTERED CREDIT UNIONS. AT THIS TIME, THERE IS UNCERTAINTY REGARDING WHETHER THE CREDIT UNION SHOULD PAY INCOME TAX ON CERTAIN TYPES OF NET TAXABLE INCOME FROM ACTIVITIES THAT MAY BE CONSIDERED BY TAXING AUTHORITIES AS UNRELATED TO THE PURPOSE FOR WHICH THE CREDIT UNION WAS GRANTED NONTAXABLE STATUS. THE CREDIT UNION HAS NOT FILED ANY TAX RETURNS IN THE PAST FOR POTENTIAL TAXABLE ACTIVITIES. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. MANAGEMENT HAS EVALUATED THE CREDIT UNION'S TAX POSITIONS AND CONCLUDED THAT THE CREDIT UNION HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENTS TO THE FINANCIAL STATEMENTS. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON NET TAXABLE INCOME FROM ACTIVITIES DEEMED TO BE UNRELATED TO THE CREDIT UNION'S NONTAXABLE STATUS IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. WHILE IT SEEMS UNLIKELY THAT CERTAIN INCOME STREAMS OF STATE-CHARTERED CREDIT UNIONS WILL BE SUBJECT TO UBIT, THE ISSUE REMAINS OPEN. FORM 990, PART VI, SECTION A, LINE 6 MEMBERS AND/OR STOCKHOLDERS: THE CREDIT UNION IS A COOPERATIVE OWNED BY ITS MEMBERS. THE ORGANIZATION HAS CLASSES OF MEMBERS OR STOCKHOLDER MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A ELECTION OF BOARD MEMBERS: THE CREDIT UNION IS A COOPERATIVE OWNED BY ITS MEMBERS. THE BOARD OF DIRECTORS ARE ELECTED BY THE MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7B DECISIONS SUBJECT TO APPROVAL OF MEMBERS: GOVERNANCE DECISIONS MADE BY THE ELECTED BOARD OF DIRECTORS ARE SUBJECT TO APPROVAL BY THE MEMBERSHIP. FORM 990, PART VI, SECTION B, LINE 10B POLICIES AND PROCEDURES GOVERNING CHAPTERS, AFFILIATES & BRANCHES: THERE ARE NOT SEPARATE POLICIES AND PROCEDURES FOR EACH BRANCH. THE CREDIT UNION'S POLICIES AND PROCEDURES GOVERN BRANCH OPERATIONS. FORM 990, PART VI, SECTION B, LINE 11B ORGANIZATION'S PROCESS TO REVIEW FORM 990: ONCE THE FORM 990 AND ALL SUPPORTING SCHEDULES AND STATEMENTS ARE PREPARED BY A CERTIFIED PUBLIC ACCOUNTING FIRM, THE PRESIDENT WILL PRESENT THE FORMS TO THE BOARD OF DIRECTORS FOR THEIR REVIEW AND APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C ENFORCEMENT OF CONFLICTS POLICY: ALL BOARD MEMBERS ARE REQUIRED TO DISCLOSE CONFLICTS OF INTEREST ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15B COMPENSATION PROCESS FOR OFFICERS: COMPENSATION IS SUBJECT TO APPROVAL OF THE BOARD OF DIRECTORS AND MANAGEMENT. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC ON THE ORGANIZATION'S WEBSITE, WWW.NCUA.GOV. FORM 990, PART XI, LINE 9: UNREALIZED G/L ON INVESTMENTS - AFS -2,904,501.