2026-06-26T09:37:12-05:00 2025-12-31 994260840 DOEREN MAYHEW 8785 SW 165TH AVE STE 303 MIAMI FL 33193 990 2025-01-01 591319114 MEMORIAL EMPLOYEES FINANCIAL CREDIT UNION MEMO 9542651003 3501 JOHNSON STREET HOLLYWOOD FL 33021 GEORGE GLASSER CEO 9542651003 2026-06-24 1 AUBREY CLEGG P01076395 3052328272 2026-06-24 2025 2025-03-06 01:10:19Z GEORGE GLASSER 3501 JOHNSON STREET HOLLYWOOD FL 33021 7930535 0 X WWW.MEFCU.ORG X 1971 FL OUR MISSION IS TO GROW ALONG WITH OUR SPONSOR BY PROVIDING LIFELONG PERSONAL SERVICE AND INNOVATIVE FINANCIAL PRODUCTS. 9 8 21 11 9900 512 0 5000 3337090 3338695 963952 1105570 0 0 4301042 4449265 6200 5700 0 0 1690392 1735872 0 0 0 2381296 2454807 4077888 4196379 223154 252886 89035102 92835598 83697562 85878408 5337540 6957190 X THE OBJECTIVE AND PURPOSE OF THIS CREDIT UNION IS A COOPERATIVE NONPROFIT ASSOCIATION ORGANIZED UNDER THE LAWS OF THE STATE OF FLORIDA, FOR THE PURPOSES OF ENCOURAGING THRIFT AMONG ITS MEMBERS, CREATING SOURCES OF CREDIT AT FAIR AND REASONABLE RATES OF INTEREST, AND PROVIDING AN OPPORTUNITY FOR ITS MEMBERS TO USE AND CONTROL THEIR RESOURCES ON A DEMOCRATIC BASIS TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITION. 0 0 INCOME FROM THE CREDIT UNION MEMBERSHIP AND FROM THE INVESTMENT OF MEMBER FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP. 0 1 1 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1494 0 1 21 1 1 1 0 0 0 0 0 0 0 X 9 8 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 0 1 1 1 0 X GEORGE GLASSER 9542651003 3501 JOHNSON STREET HOLLYWOOD FL 33021 GEORGE GLASSER CEO 40.00 X X 519215 0 162520 DIONNE BLACKWOOD CHAIRPERSON 5.00 X 0 0 0 WILLIAM EDELSTEIN VICE CHAIRPERSON 5.00 X 0 0 0 WALTER BUSSELL TREASURER 5.00 X 0 0 0 ED WERNER SECRETARY 5.00 X 0 0 0 DENISE DICESARE DIRECTOR 5.00 X 0 0 0 JUDY FRUM DIRECTOR 5.00 X 0 0 0 MARGIE VARGAS DIRECTOR 5.00 X 0 0 0 MARCIA BARTON-RADLIEN DIRECTOR 5.00 X 0 0 0 OSCAR SANCHEZ SVP LENDING 40.00 X 158895 0 21119 ELLEN HOUSMAN CFO 40.00 X 77574 0 3424 COLLEEN JONES VP OF COMPLIANCE 40.00 X 105101 0 15244 860785 0 202307 3 0 1 0 FISERV PO BOX 934057 ATLANTA GA 31193 CORE PROCESSOR 393724 DYNAMIC QUEST PO BOX 67096 NEWARK NJ 07101 IT 101711 2 5000 5000 INTEREST ON LOANS 522100 2742628 2742628 FEE INCOME 522100 586167 586167 FINANCE AND INSURANCE 520000 9900 9900 3338695 1092934 1092934 3493906 3481270 12636 12636 12636 4449265 3341431 9900 1092934 X 5700 692747 638157 219461 84807 100700 35189 163154 417815 49830 153399 259942 26002 824067 38983 61802 PROVISION FOR LOAN LOSS 218000 LOAN SERVICING EXPENSE 163636 OPERATING FEES EXPENSE 22311 MISCELLANEOUS EXPENSES 20677 4196379 1296707 1324309 5766176 11998616 11250 975414 45693402 43577093 90836 144732 897989 787170 120359 110819 34708121 33387317 105100 109900 1243151 1207398 89035102 92835598 1948526 1911198 81749036 83967210 83697562 85878408 X 0 0 0 0 5337540 6957190 5337540 6957190 89035102 92835598 252886 1366764 0 X X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 505 505 505 1 FLORIDA CREDIT UNION POLITICAL ACTION COMMITTEE (CUPAC) 3692 COOLIDGE COURT TALLAHASSEE FL 32311 505 897989 787170 110819 110819 MEMBER DEPOSITS 83967210 83967210 X 4449265 0 4449265 0 4449265 4196379 0 4196379 0 4196379 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, UNDER INTERNAL REVENUE CODE 501(C)(14), FROM MOST FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2025. 1 JOE DIMAGGIO CHILDREN'S HOSPITAL FOUNDATION INC 1005 JOE DIMAGGIO DR HOLLYWOOD FL 33021 650492343 501(C)(3) 5700 0 TO IMPROVE THE HEALTH OF THE COMMUNITY IT SERVES BY FUNDING PROGRAMS, SERVICES, AND CAPITAL PROJECTS THAT ENHANCE THE HOSPITAL'S ABILITY TO TREAT COMPLEX PEDIATRIC CONDITIONS 1 FORM 990 SCH I PART II DONATIONS TO ORGANIZATIONS ARE CHARITABLE IN NATURE. THEY ARE NOT GRANTS. THEREFORE, THERE IS NO MONITORING SUBSEQUENT TO DISBURSEMENT. X X X X 1 1 0 GEORGE GLASSER CEO 230869 0 22731 0 265615 0 154953 0 7567 0 681735 0 84727 0 OSCAR SANCHEZ SVP LENDING 125140 0 20829 0 12926 0 17339 0 3780 0 180014 0 0 0 PART I, LINES 4A-B ELLEN HOUSMAN: $35,699.95 GEORGE GLASSER, CEO, PARTICIPATES IN A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN. THE CREDIT UNION ACCRUED $122,500 DURING 2025 TOWARD THE PLAN'S FUTURE BENEFIT PAYOUTS. GEORGE GLASSER, CEO, PARTICIPATES IN A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN. HE RECEIVED A BENEFIT PAYOUT IN THE AMOUNT OF $250,000 DURING 2025. THE PAYOUT WAS REPORTED ON FORM 1099-NEC. FOR FORM 990 REPORTING PURPOSES GEORGE GLASSER'S TOTAL REPORTED COMPENSATION IS COMPRISED OF BOTH BOX 5 W-2 COMPENSATION AND FORM 1099-NEC COMPENSATION. FORM 990, PART VI, SECTION A, LINE 6 MEMBERSHIP IN THIS CREDIT UNION IS LIMITED TO: (A) THOSE PERSONS AND BUSINESSES WHO WERE MEMBERS OF MEMORIAL EMPLOYEES FEDERAL CREDIT UNION AS OF THE DATE THE FEDERAL CREDIT UNION WAS REPLACED BY THIS CREDIT UNION PURSUANT TO A CHARTER CONVERSION IN ACCORDANCE WITH FEDERAL AND FLORIDA LAWS AND REGULATIONS; (B) EMPLOYEES AND STAFF DOCTORS OF MEMORIAL HOSPITAL WHO WORK IN HOLLYWOOD, FLORIDA; (C) AUXILIARY VOLUNTEERS WHO ARE ASSIGNED TO MEMORIAL HOSPITAL IN HOLLYWOOD, FLORIDA; (D) PERSONS WHO RETIRED AS PENSIONERS AND/OR ANNUITANTS UNDER PRIVATE PENSION PLANS FROM MEMORIAL HOSPITAL IN HOLLYWOOD, FLORIDA; (E) IMMEDIATE FAMILY MEMBERS OF ANY MEMBERS OF THE CREDIT UNION; (F) PERSONS WHO LIVE, WORK OR WORSHIP IN ANY OF THE FOLLOWING FLORIDA COUNTIES: MIAMI-DADE, BROWARD AND PALM BEACH (THE "MEMBERSHIP COUNTIES"); (G) ANY BUSINESS, ORGANIZATION OR ASSOCIATION WHICH MAINTAIN OFFICES LOCATED WITHIN THE MEMBERSHIP COUNTIES; (H) EMPLOYEES OF MEMORIAL HEALTHCARE WHO LIVE OR WORK IN THE STATE OF FLORIDA; (I) ANY BUSINESS, ORGANIZATION OR ASSOCIATION FOR WHICH A MEMBER OF THE CREDIT UNION IS AN OWNER, SHAREHOLDER, MEMBER, OR PARTNER; AND (J) TRUSTS FOR WHICH A MEMBER OF THE CREDIT UNION SERVES AS SETTLOR, TRUSTEE, OR BENEFICIARY. THE CREDIT UNION SHALL NOT ADMIT MORE THAN AN AGGREGATE OF 900 NEW MEMBERS PER CALENDAR YEAR WHERE SUCH MEMBERS QUALIFY FOR MEMBERSHIP BASED SOLELY ON SUBSECTION (F), (G) OR (H) OF THE MEMBERSHIP COUNTIES. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBER-OWNERS OF THE CREDIT UNION HAVE THE AUTHORITY TO ELECT THE MEMBERS OF THE BOARD OF DIRECTORS FOR THREE-YEAR TERMS ON A ROTATING BASIS. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11B THE 990 WILL BE COMPILED BY THE SVP LENDING AND ACCOUNTING SUPERVISOR, PREPARED BY OUR INDEPENDENT THIRD-PARTY TAX PREPARER, AND REVIEWED BY THE CEO PRIOR TO FILING. SUBSEQUENT TO FILING, A COPY OF THE COMPLETED RETURN WILL BE PROVIDED TO THE BOARD AS INFORMATIONAL AT THE NEXT BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 12C AN ANNUAL DISCLOSURE STATEMENT IS COMPLETED AND SIGNED BY ALL EMPLOYEES, DIRECTORS, AND COMMITTEE MEMBERS ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS USED TO SET THE CEO'S ANNUAL SALARY IS BASED ON A COMBINATION OF COMPARISON TO COMPARABLE SIZED CREDIT UNIONS THROUGH THE USE OF AMERICA'S CREDIT UNIONS' ANNUAL COMPENSATION SURVEY OR SIMILAR RESOURCE AND THE CURRENT YEAR PERFORMANCE EVALUATION. THE PROCESS IS PERFORMED BY THE COMPENSATION COMMITTEE AND PRESENTED TO THE FULL BOARD FOR APPROVAL. THERE IS AN ACTIVVE CONTRACT IN PLACE BETWEEN THE CEO AND THE BOARD OF DIRECTORS DETERMINING SALARY EXPECTATIONS. THIS PROCESS IS COMPLETED ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION C, LINE 19 ANNUAL FINANCIAL STATEMENTS ARE POSTED ON THE WEBSITE, AND THE MONTHLY FINANCIALS ARE POSTED IN EACH BRANCH. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT MADE AVAILABLE TO THE PUBLIC. FORM 990, PART IX, LINE 11G WEB SITE & HOME BANKING EXP 121,487. ATM- DEBIT CARD PROCESSING EXP 205,795. SHARE DRAFT PROCESSING EXPENSE 3,120. OTHER PROFESSIONAL AND OUTSIDE SERVICES 87,413. FORM 990, PART XII, LINE 2C THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. FORM 990, PART VI, SECTION B, LINE 13 THE CREDIT UNION DOES NOT HAVE A WHISTLE BLOWER POLICY. HOWEVER, THE CREDIT UNION'S EMPLOYEE HANDBOOK, WHICH IS APPROVED BY THE BOARD OF DIRECTORS, ADDRESSES WHISTLE-BLOWER PROCEDURES. ADDITIONALLY, THE CREDIT UNION'S THIRD-PARTY LEGAL COUNSEL REVIEWED THE WHISTLE BLOWER PROCEDURES WITHIN THE EMPLOYEE HANDBOOK FOR ADEQUACY. THE EMPLOYEE HANDBOOK IS DISTRIBUTED TO EVERY CREDIT UNION EMPLOYEE.