Southern Energy Credit Union
501(c)(14)
Only null% goes to programs Strong reserves Growing revenue
Southern Energy Credit Union is a 501(c)(14) organization based in Birmingham, Alabama, registered in 1941, with $119,293,106 in FY2024 revenue. CharityIndex grades it A.
750 17th St N, Birmingham, AL, 35203 EIN 63-0328360 Since 1941
Revenue (FY2024)
$119.3M
▲ 0.8% vs prior year
Expenses (FY2024)
$110.8M
Net assets
$245.5M
Employees
204
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for Southern Energy Credit Union— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
AFinancial health25% of the rating27 mo reserves · +7% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Southern Energy Credit Union: 27 mo reserves · +7% margin earns a A on this criterion. See the exact thresholds →
AGovernance25% of the rating5 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Southern Energy Credit Union: 5 of 6 checks met earns a A on this criterion. See the exact thresholds →
BTransparency10% of the rating3 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Southern Energy Credit Union: 3 of 5 disclosure signals earns a B on this criterion. See the exact thresholds →
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Mission
Cooperative credit union
Contact & location
- Address
- 750 17th St N, Birmingham, AL, 35203
- City
- Birmingham
- State
- Alabama
- Category
- —
- Subcategory
- —
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $56.8M (FY2013) to $119.3M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $3.2BNet assets $245.5M
Operating margin
7.2%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$3.5B
Total liabilities
$3.2B
Net assets
$245.5M
Salaries & benefits
$18.5M
17% of expenses
Board members
9
9 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $119,293,106▲0.8% | $110,753,878▲9.7% | $245,510,819▲15.1% | $3,450,256,926▼1.5% | 990 |
| 2023 | $118,347,236▲33.6% | $100,998,695▲61.8% | $213,378,847▲62.3% | $3,501,472,069▲2.4% | 990 |
| 2022 | $88,615,377▲18.2% | $62,410,992▲17.3% | $131,504,803▼65.1% | $3,420,389,538▼7.1% | 990 |
| 2021 | $74,996,749▼2.0% | $53,186,389▼6.3% | $377,285,512▼4.4% | $3,681,543,052▲9.0% | 990 |
| 2020 | $76,503,998▼12.3% | $56,771,594▼7.2% | $394,527,632▲9.3% | $3,376,053,353▲12.3% | 990 |
| 2019 | $87,214,671▲5.8% | $61,192,307▲7.5% | $360,874,894▲18.5% | $3,006,802,231▲5.0% | 990 |
| 2018 | $82,398,540▲11.5% | $56,912,477▲18.6% | $304,505,843▲5.5% | $2,863,040,688▲1.7% | 990 |
| 2017 | $73,884,594▲14.3% | $47,970,754▲7.9% | $288,525,780▲9.5% | $2,814,712,539▲2.8% | 990 |
| 2016 | $64,652,524▲1.8% | $44,443,289▲4.7% | $263,595,498▼3.1% | $2,736,929,669▲5.3% | 990 |
| 2015 | $63,522,880▲1.9% | $42,440,269▲0.1% | $272,091,598▲7.6% | $2,599,286,234▲4.1% | 990 |
| 2014 | $62,324,490▲9.8% | $42,389,160▲4.1% | $252,764,400▲13.0% | $2,496,951,040▲3.3% | 990 |
| 2013 | $56,779,150 | $40,719,359▼5.2% | $223,713,684▲1.5% | $2,417,665,714▲4.9% | 990 |
| 2012 | — | $42,942,068▼7.2% | $220,485,775▲6.5% | $2,305,460,528▲8.3% | 990 |
| 2011 | — | $46,273,109▼4.7% | $207,036,331▲9.4% | $2,129,509,796▲8.7% | 990 |
| 2010 | — | $48,575,999 | $189,295,912 | $1,959,466,591 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Derrick Ragland — $996,017 (0.90% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Derrick Ragland | Ceo | 40 | $996,017 |
| Blane Mink | Cfo/vp | 40 | $993,121 |
| Andy Rush | Coo | 40 | $409,902 |
| Angela Wright | It Manager | 40 | $255,131 |
| Jacob Julian | Comptroller | 40 | $204,920 |
| Danna Horne | Admin Manager | 40 | $187,588 |
| Preston Holder | Lending Manager | 40 | $154,290 |
| Jonathan Cantrell | Loan Officer | 40 | $146,992 |
| Don Manuel | Former Key Employee | 1 | $101,375 |
| Celia Yates | Director - Secretary | 1 | $10,453 |
| Allison Boone | Director - Vice Chairperson | 1 | $8,471 |
| Robert B Roy | Director | 1 | $8,142 |
| Gregg Shipp | Director - Chairperson | 1 | $7,340 |
| Daniel Blalock | Director - Treasurer | 1 | $7,088 |
| Carlton Stephens | Director | 1 | $6,016 |
| Greg Bass | Supervisory Committee Member | 1 | $4,851 |
| John Valekis | Director | 1 | $4,162 |
| Carissa Ledbetter | Supervisory Committee Chairperson | 1 | $3,845 |
| Mark Wilkinson | Director | 1 | $2,049 |
| Ann Wilkinson | Supervisory Committee Member | 1 | $1,950 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Sykes Weaver General Contractors | Contruction Contractors | $890,420 |
| Logista | It Consulting and Network Support | $340,995 |
| United Solutions | Data Processing Servcies | $203,000 |
| League of Southeastern Credit Unions | Advocacy Services | $134,039 |
| Security Engineers Inc | Security Guards | $122,776 |
Grants made · $54K in FY2023
1 grant totaling $54K in FY2023. All grants made by Southern Energy Credit Union →
| Recipient | Purpose | Amount |
|---|---|---|
| Apco Employees Cu Share the Care Foundation Inc | Donations to sponsor share the care's mission. | $53,775 |
Frequently asked questions
- Is Southern Energy Credit Union a legitimate nonprofit?
- Yes. Southern Energy Credit Union is a 501(c)(14) organization registered with the U.S. Internal Revenue Service under EIN 63-0328360, based in Birmingham, Alabama.
- What is Southern Energy Credit Union's EIN?
- Southern Energy Credit Union's Employer Identification Number (EIN) is 63-0328360.
- How much revenue does Southern Energy Credit Union report?
- Southern Energy Credit Union reported $119,293,106 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- What financial grade does Southern Energy Credit Union have?
- CharityIndex grades Southern Energy Credit Union A, based on financial health (reserves and operating margin).
- How much does Southern Energy Credit Union's highest-paid employee make?
- The highest reported compensation on Southern Energy Credit Union's latest Form 990 is $996,017, paid to Derrick Ragland (Ceo).
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Data for Southern Energy Credit Union (EIN 63-0328360) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.