2023-04-12T16:05:19-04:00 2022-12-31 CU AUDIT & COMPLIANCE GROUP 3692 COOLIDGE CT TALLAHASSEE FL 323117890 990 2022-01-01 630476332 RED OAK CREDIT UNION REDO 2057591371 1008 VETERANS MEMORIAL PKWY TUSCALOOSA AL 35404 SHEP LOWERY PRESIDENT/CEO 2057591371 2023-04-15 true SHEP LOWERY 990009999 false AMANDA ONKST P02387288 2054372176 2023-04-12 2022 2023-04-26 12:10:37Z SHEP LOWERY 1008 VETERANS MEMORIAL PKWY TUSCALOOSA AL 35404 2234656 false X WWW.REDOAKCU.COM X CREDIT UNION 1955 AL CREDIT UNION - TO PROVIDE FINANCIAL SERVICES FOR ITS MEMBERS. 6 6 14 9 0 0 1276915 1358733 177378 311743 396786 564180 1851079 2234656 0 0 605370 685212 0 0 1448798 1471310 2054168 2156522 -203089 78134 37790371 40895274 33605010 38996686 4185361 1898588 CREDIT UNION - TO PROVIDE SERVICES TO APPROXIMATELY 4,725 MEMBERS IN THE FORM OF LOANS, SAVINGS, AND OTHER FINANCIAL SERVICES. false false 2089042 THE CREDIT UNION PROVIDED A VARIETY OF LOAN SERVICES FOR ITS MEMBERS. 67480 THE CREDIT UNION PROVIDED A VARIETY OF DEPOSIT SERVICES FOR ITS MEMBERS. 2156522 false false false false false false false false false true true false false true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true X 1174 0 false 14 true false false false false false false false false X 6 6 false false false false true true true true true false true true false true true true true true true true false X SHEP LOWERY 2057591371 1008 VETERANS MEMORIAL PKWY TUSCALOOSA AL 35404 SHEP LOWERY PRESIDENT/CE 40.00 0.00 X 116750 0 26275 TAMATHA ANTHONY SC MEM 1.00 0.00 X 0 0 0 SUSAN DOWDLE BOARD TREASU 1.00 0.00 X 0 0 0 LINDA FORTE BOARD SECRET 1.00 0.00 X 0 0 0 BOBBIE GARNER BOARD MEM 1.00 0.00 X 0 0 0 BEN HORTON BOARD VICE C 1.00 0.00 X 0 0 0 GREGORY MADRID BOARD MEM 1.00 0.00 X 0 0 0 IRIS ROBERTSON SC CHAIR 1.00 0.00 X 0 0 0 SAMMY WATSON BOARD MEM 1.00 0.00 X 0 0 0 MICHAEL WILSON BOARD CHAIR 1.00 0.00 X 0 0 0 116750 26275 1 false false false INTEREST ON LOANS 522291 902413 902413 FEE INCOME 456320 456320 1358733 311743 311743 OTHER OPERATING INCOME 525990 603266 603266 GAIN/LOSS ON OTHER INVESTMENT -16932 -16932 GAIN/LOSS ON DISPOS OF FA -22154 -22154 564180 2234656 2234656 569917 569917 19963 19963 42459 42459 52873 52873 752460 752460 162250 162250 39215 39215 67480 67480 PROVISION FOR LOAN LOSS 187362 187362 PROF & OUTSIDE SERVICE 85430 85430 MISC OPERATING EXPENSE 68622 68622 EDUCATIONAL & PROMO 51433 51433 57058 57058 2156522 0 2156522 0 10413768 804432 4436314 1395000 9006218 17827219 66756 18043 3865867 2071332 1862702 1794535 11646049 18485675 358564 570370 37790371 40895274 67713 -80750 689000 33537297 38388436 33605010 38996686 X 749812 3435549 1898588 4185361 1898588 37790371 40895274 X 78134 -2044906 -320001 X false false 870000 870000 959425 378431 580994 1450994 ALL OTHER INVESTMENTS 18235675 MEMBERSHIP CAPITAL 250000 18485675 REGULAR SHARES 20324237 SHARE DRAFTS 7525176 ALL OTHER SHARES 6448023 NONMEMBER DEPOSITS 4091000 38388436 FORM 990, PAGE 1, PART I, LINE 6 HOURS OF SERVICE ARE RELATED TO DUTIES OF THE BOARD OF DIRECTORS, SUPERVISORY COMMITTEE, AND CREDIT COMMITTEE WITHOUT COMPENSATION. FORM 990, PAGE 5, PART V, LINE 3B THE CREDIT UNION HAD NO UNRELATED BUSINESS INCOME. FORM 990, PAGE 6, PART VI, LINE 6 THE CREDIT UNION IS OWNED BY THE MEMBERS. FORM 990, PAGE 6, PART VI, LINE 7A THE BOARD OF DIRECTORS IS ELECTED BY THE MEMBERSHIP (ONE MEMBER, ONE VOTE). ALL DUTIES, POWERS, AND RESPONSIBILITIES ARE CONTROLLED BY THE BOARD OF DIRECTORS. THE MEMBERS ELEECT THE BOARD OF DIRECTORS AT THE ANNUAL MEETING EVERY YEAR. FORM 990, PAGE 6, PART VI, LINE 7B SOME DECISIONS MADE BY THE BOARD OF DIRECTORS ARE AFFIRMED BY THE MEMBERS. FORM 990, PAGE 6, PART VI, LINE 11B THE FORM 990 IS REVIEWED BY THE MANAGER. THE FORM 990 IS AVAILABLE FOR REVIEW BY THE BOARD OF DIRECTORS UPON REQUEST. FORM 990, PAGE 6, PART VI, LINE 12C THE BOARD OF DIRECTORS MONITOR AND ENFORCE THE CONFLICT OF INTEREST POLICY. FORM 990, PAGE 6, PART VI, LINE 15A THE BOARD OF DIRECTORS USE A COMPARISON OF SMALL CREDIT UNION COMPENSATION. FORM 990, PAGE 6, PART VI, LINE 15B ONLY COMPARABILITY DATA WAS USED IN DETERMINING COMPENSATION FOR THE PRESIDENT/CEO. FORM 990, PAGE 6, PART VI, LINE 19 FINANCIAL DOCUMENTS ARE POSTED IN THE CREDIT UNION LOBBY BY THE 15TH OF THE SUBSEQUENT MONTH. FORM 990, PART XI, LINE 9 DUE TO ROUNDING -1 ALL FUNDING - PER CECL -320,000 TOTAL -320,001