2025-05-15T12:31:03-05:00 2024-12-31 454084437 WARREN AVERETT LLC 350 W CEDAR STREET SUITE 400 PENSACOLA FL 32502 990 2024-01-01 580960142 FIVE STAR CREDIT UNION FIVE 3347937714 5105 MONTGOMERY HWY DOTHAN AL 36303 ROBERT A STEENSMA PRESIDENT/CEO 3347937714 2025-05-14 1 0 CLAIRE C DUREN CPA P01577924 8504357400 2025-05-14 2024 2025-03-06 01:10:19Z ROBERT A STEENSMA 5105 MONTGOMERY HWY DOTHAN AL 36303 93539140 0 X WWW.FIVESTARCU.COM X STATE CHARTERED CREDIT UNION 1964 AL THE CREDIT UNION PROVIDES FINANCIAL PRODUCTS AND SERVICES TO ITS MEMBERS. 9 9 269 9 356980 0 0 0 23801814 44860243 9242766 11268888 21077043 23973430 54121623 80102561 662328 284459 0 0 15029655 20855632 0 0 0 26220059 53706515 41912042 74846606 12209581 5255955 798518963 1190716101 722999493 1109799629 75519470 80916472 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 65,000. 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 0 0 0 0 0 0 0 1 0 0 1 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 14414 0 1 269 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 WALLACE JOHNSON DIRECTOR 1.00 X 0 0 0 SUZANN CULPEPPER SECRETARY 1.00 X X 0 0 0 HAROLD STEPLER DIRECTOR 1.00 X 0 0 0 BOBBY SWANN DIRECTOR 1.00 X 0 0 0 CORY DRIGGERS CHAIRMAN 1.00 X X 0 0 0 PAMELA SCOTT DIRECTOR 1.00 X 0 0 0 WHIT HUSKEY VICE-CHAIRMAN 1.00 X X 0 0 0 JANICE GREEN TREASURER 1.00 X X 0 0 0 MICHAEL FARRIS DIRECTOR 1.00 X 0 0 0 ROBERT A STEENSMA PRESIDENT/CEO 40.00 X 918126 0 44442 TYLER BECK VICE PRESIDENT/COO 40.00 X 1011211 0 40947 FABIO BIASELLA SR VICE PRESIDENT/CMO 40.00 X 339397 0 7680 LANDON WILDES VP/CFO 40.00 X 360215 0 38803 MICHAEL MACHOWICZ VP/CIO 40.00 X 318816 0 36509 LANCE WAGNER VP/CLO 40.00 X 339752 0 38074 STACIE GREEN VP-RETAIL SALES/ SERVICES 40.00 X 159863 0 26154 ANN MARIE COOK VP-CREDIT ADMIN 40.00 X 247741 0 13080 MIKE BRIDGES VP-MARKETING/COMMUNICATION 40.00 X 195705 0 32828 KELLIE ELDRIDGE VP-HUMAN RESOURCES 40.00 X 260527 0 34704 DEBORAH MCRAE VP RISK MANAGEMENT 40.00 X 134817 0 7217 BOBBY LANDWEHR MARKET PRESIDENT 40.00 X 156872 0 26431 CANDICE WHITE MORTGAGE LOAN ORIGINATOR 40.00 X 195437 0 32609 MINDY RICHBURG VP-SUPPORT & DEVELOPMENT 40.00 X 170205 0 31569 PATRICK WENDOLEK DIRECTOR OF PROGRAMMING 40.00 X 194769 0 14820 5003453 0 425867 25 0 1 0 0 INTEREST ON LOANS 522100 44860243 44860243 44860243 10936132 10936132 13747084 22251 13436579 0 310505 22251 332756 332756 FEES AND SERVICE CHARGES 522100 23574668 23574668 ATM FOREIGN FEE INCOME 522100 356980 356980 GAIN ON SALE OF OREO 522100 41782 41782 23973430 80102561 68476693 356980 11268888 284459 3493973 11443466 1180075 3494227 1243891 84773 170434 1104724 834640 1859811 1801385 1374279 505126 125892 23716164 2931503 257889 PROVISION FOR LOAN LOSS 7155127 ATM AND DEBIT CARD EXPE 4444218 MERGER EXPENSE 4396287 LOAN SERVICING EXPENSE 900505 2043758 74846606 15305652 19121874 81851739 127205905 1745064 5560043 10866228 10987938 412985254 747409808 1755576 2395976 58368604 14989975 36748654 43378629 198322764 168937896 12913276 1758031 26024756 63960001 798518963 1190716101 13374765 12898887 11666 913500 50000000 50391480 659613062 1045595762 722999493 1109799629 X 0 0 0 0 75519470 80916472 75519470 80916472 798518963 1190716101 5255955 141047 0 X X 0 1 X 1 0 2500 1000 1000 1 STATE ACULAC 22 INVERNESS PARKWAY STE 200 BIRMINGHAM AL 35242 521681138 1000 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 ONE INDIVIDUAL RUNNING FOR ALABAMA STATE AND LOCAL OFFICES. 9053237 9053237 34606217 6427435 28178782 197371 107239 90132 13811908 8120787 5691121 699871 334514 365357 43378629 ACCRUED INTEREST 5469909 NCUSIF DEPOSIT 8799637 OTHER REAL ESTATE OWNED 97600 OTHER ASSETS 8019256 NEW YORK LIFE INSURANCE 22232305 GOODWILL 19341294 63960001 MEMBER SHARE DEPOSITS 1045512429 INTEREST PAYABLE 83333 1045595762 X 80102561 0 80102561 0 80102561 74846606 0 74846606 0 74846606 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, 2024 AND 2023, 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) 268824 0 CONTINUED FUNDING OF FOUNDATION 1 X 1 1 X X X 0 1 0 TYLER BECK VICE PRESIDENT/COO 344038 0 667173 0 0 0 17250 0 23697 0 1052158 0 0 0 ROBERT A STEENSMA PRESIDENT/CEO 536058 0 382068 0 0 0 17250 0 27192 0 962568 0 0 0 LANDON WILDES VP/CFO 223077 0 137138 0 0 0 15750 0 23053 0 399018 0 0 0 LANCE WAGNER VP/CLO 224039 0 115713 0 0 0 14549 0 23525 0 377826 0 0 0 MICHAEL MACHOWICZ VP/CIO 214038 0 104778 0 0 0 13479 0 23030 0 355325 0 0 0 FABIO BIASELLA SR VICE PRESIDENT/CMO 48558 0 290839 0 0 0 4068 0 3612 0 347077 0 0 0 KELLIE ELDRIDGE VP-HUMAN RESOURCES 158654 0 101873 0 0 0 11800 0 22904 0 295231 0 0 0 ANN MARIE COOK VP-CREDIT ADMIN 156923 0 90818 0 0 0 12403 0 677 0 260821 0 0 0 MIKE BRIDGES VP-MARKETING/COMMUNICATION 154231 0 41474 0 0 0 9936 0 22892 0 228533 0 0 0 CANDICE WHITE MORTGAGE LOAN ORIGINATOR 65833 0 129604 0 0 0 10011 0 22598 0 228046 0 0 0 PATRICK WENDOLEK DIRECTOR OF PROGRAMMING 148077 0 46692 0 0 0 5889 0 8931 0 209589 0 0 0 MINDY RICHBURG VP-SUPPORT & DEVELOPMENT 121500 0 48705 0 0 0 8752 0 22817 0 201774 0 0 0 STACIE GREEN VP-RETAIL SALES/ SERVICES 128692 0 31171 0 0 0 5277 0 20877 0 186017 0 0 0 BOBBY LANDWEHR MARKET PRESIDENT 138429 0 18443 0 0 0 7918 0 18513 0 183303 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 10987938 0 1 1 10987938 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 REVIEWS AND APPROVES THE CEO'S COMPENSATION. OTHER MANAGEMENT AND KEY EMPLOYEES ARE GRADED USING THE COMPEASE SALARY ADMINISTRATION PLAN MATRIX. THE SALARY MATRIX FOR EMPLOYEES IS REVIEWED EACH NOVEMBER BASED ON CURRENT TRENDS. THE MATRIX IS EFFECTIVE FOR THE FOLLOWING CALENDAR YEAR. AN EMPLOYEE'S APPRAISAL SCORE CORRELATES WITH THE MATRIX TO DETERMINE THE INCREASE. IF THERE ARE ANY REQUESTS OUTSIDE THE MATRIX, THE CEO MUST APPROVE THE REQUEST. 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 268824 CASH VALUE