Form 5500 · Employee benefit plan · TUSCALOOSA, AL
ALABAMA CREDIT UNION
The filing calls this plan ALABAMA CREDIT UNION WELFARE PLAN.
Public Form 5500 records show how ALABAMA CREDIT UNION of TUSCALOOSA, AL, a finance and insurance employer, structures its employee benefits. Its broker of record is NATIONWIDE INSURANCE. Coverage is written through BLUE CROSS AND BLUE SHIELD OF ALABAMA and 5 other carriers. The plan's most recent policy period ended in December.
Sourced from U.S. DOL EFAST2 Form 5500 · EIN 63-0440014 · plan 501 · plan year 2024, filed Jul 9, 2025
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589 other employer plans in Alabama have policy years ending in December. See the full list on the renewal calendar, or ask for it in Claude or ChatGPT.
How this plan is funded
Fully insured as reported
The filing reports medical coverage through an insurance contract on Schedule A, and no money paid for benefits by the plan itself.
Benefits declared on this filing
Declared benefits are the plan’s own line 8b codes on Form 5500. “Not on Schedule A” means no insured contract for that line appears on this filing. That usually means the benefit is self-funded, or it sits under a different plan number.
Where a line has more than one insured contract, the carrier and the covered figure are the largest contract's by premium. The contracts are not added up: a pharmacy carve-out and the medical carrier beside it cover the same people.
Persons covered is the count the carrier filed for that policy at the end of its policy year, and it can include dependents. Participants is the plan's own count at the start of its plan year. The two count different people, so a covered figure can be larger.
Plan brief
Schedule A lists 7 insured contracts covering health, dental, vision, life and disability; the largest, with BLUE CROSS AND BLUE SHIELD OF ALABAMA, covers 281 people.
Reported premium across the insured contracts is $2,207,369, with $461,861 in disclosed broker commissions — about 21% of premium.
The most recent policy period ended in December, and the plan year ends December 31. Group contracts typically renew on that annual cycle.
NATIONWIDE INSURANCE is the broker of record on 1 of the 7 contracts; the rest name a different broker or none.
6 carriers appear on the filing, including BLUE CROSS AND BLUE SHIELD OF ALABAMA, UNITED OF OMAHA LIFE INSURANCE COMPANY, CANOPY INSURANCE CORPORATION and COLONIAL LIFE & ACCIDENT INSURANCE COMPANY. BLUE CROSS AND BLUE SHIELD OF ALABAMA writes the largest contract by premium.
Schedule A insurance contracts
| Carrier | Benefits | Covered | Renews | Premium | Commission |
|---|---|---|---|---|---|
| NATIONWIDE INSURANCE / GILSBAR | Health | — | Jan 1, 2025 | — | $388,087 |
| UNITED OF OMAHA LIFE INSURANCE COMPANY | Life, Disability | 376 | Jan 1, 2025 | $307,471 | $46,040 |
| CANOPY INSURANCE CORPORATION | Dental | — | Jan 1, 2025 | $180,178 | $21,633 |
| CANOPY INSURANCE CORPORATION | Vision | — | Jan 1, 2025 | $41,765 | $4,167 |
| USABLE LIFE | Life | 374 | Jan 1, 2025 | — | $989 |
| COLONIAL LIFE & ACCIDENT INSURANCE COMPANY | Life, Disability | 19 | Jan 1, 2025 | $15,544 | $945 |
| BLUE CROSS AND BLUE SHIELD OF ALABAMA | Health | 281 | Jan 1, 2025 | $1,662,411 | $0 |
Premium and claims on these contracts
CANOPY INSURANCE CORPORATION, contract SBS0005060. For the contract year on this filing, the carrier reported $180,178 in premium earned and $124,445 in claims incurred. Dividing one by the other gives 69%.
CANOPY INSURANCE CORPORATION, contract SBS0005050/60. For the contract year on this filing, the carrier reported $41,765 in premium earned and $20,041 in claims incurred. Dividing one by the other gives 48%.
BLUE CROSS AND BLUE SHIELD OF ALABAMA, contract 28030. For the contract year on this filing, the carrier reported $1,662,411 in premium earned and $1,489,525 in claims incurred. Dividing one by the other gives 90%.
- CANOPY INSURANCE CORPORATION, contract SBS0005060 reported $46,137 in retention.
- CANOPY INSURANCE CORPORATION, contract SBS0005050/60 reported $9,847 in retention.
- BLUE CROSS AND BLUE SHIELD OF ALABAMA, contract 28030 reported $159,426 in retention.
Retention is what the carrier kept of the premium after claims, as reported: administration, commissions and other charges.
Only experience-rated contracts report these figures, so most filings leave them blank.
Covered = persons covered at policy year end, as filed on Schedule A for that policy — often certificates or one class, not the whole plan. Premium = the filing’s own premium/charges figure; “—” means not credibly reported.
Administrator and service providers
The plan administrator is from line 3a of the main form. We publish company names only.
Other plans filed by this employer
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Renewal calendar
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