2023-11-08T16:02:04-06:00 2022-12-31 382492570 DOEREN MAYHEW 305 WEST BIG BEAVER ROAD TROY MI 48084 990 2022-01-01 111644012 FAIRWINDS CREDIT UNION FAIR 4072776030 135 W CENTRAL BLVD 1220 ORLANDO FL 32801 KATHY CHONODY SENIOR EVP/CFO 4072776030 2023-11-02 1 KATHY CHONODY 999009999 0 ROBERT PARKS CPA P00740435 2482443000 2023-11-01 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z LARRY F TOBIN 135 W CENTRAL BLVD ORLANDO FL 32801 173780793 0 2106 X WWW.FAIRWINDS.ORG X 1949 FL THE OBJECT AND PURPOSE OF FAIRWINDS CREDIT UNION IS TO BE A COOPERATIVE, NONPROFIT, ASSOCIATION ORGANIZED UNDER THE LAWS OF THE STATE OF FLORIDA, FOR THE PURPOSE 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 IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITION. 7 7 739 10 6014329 0 0 0 144714408 134571271 14462611 31803205 5439788 6014329 164616807 172388805 295289 48757 0 0 54860301 64982437 0 0 0 55268075 71098488 110423665 136129682 54193142 36259123 4043048917 4460813071 3696096524 4235461416 346952393 225351655 CHANGING MEMBERS' LIVES ON THE JOURNEY TO FINANCIAL FREEDOM 0 0 FAIRWINDS CREDIT UNION PROVIDED AN ARRAY OF DEPOSIT AND LOAN SERVICES TO OUR 223,680 MEMBERS DURING 2022. FAIRWINDS SAVED OUR MEMBERS APPROXIMATELY $7.8 MILLION ON THEIR USED CAR LOANS IN 2022 BY OFFERING USED CAR LOAN RATES THAT WERE AT LEAST 2.61% LOWER THAN THAT WHICH OTHER FLORIDA BANKS OFFERED. FAIRWINDS SAVED OUR MEMBERS APPROXIMATELY $5.3 MILLION ON THEIR NEW CAR LOANS IN 2022 BY OFFERING NEW CAR LOAN RATES THAT WERE AT LEAST 2.80% LOWER THAN THAT WHICH OTHER FLORIDA BANKS OFFERED. 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 1 107275 0 1 739 1 1 1 0 0 0 0 0 1 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X LARRY F TOBIN 4072776030 135 W CENTRAL BLVD SUITE 1220 ORLANDO FL 32801 CAROL DENTON VICE CHAIRPERSON 0.50 X 0 0 0 DANIEL MCNUTT JR TREASURER 0.50 X 0 0 0 ELIZABETH KRAHMER SECRETARY 0.50 X 0 0 0 MACK PERRY BOARD MEMBER 0.50 X 0 0 0 RICHARD LEIGH BOARD MEMBER 0.50 X 0 0 0 LISA SNEAD CHAIRPERSON 0.50 X 0 0 0 JASON ALBU BOARD MEMBER 0.50 X 0 0 0 LARRY TOBIN CEO/PRESIDENT 60.00 X 2409115 0 2377118 KATHY CHONODY SR EVP- CFO 60.00 X 1161520 0 1143144 PHILLIP TISCHER SR EVP - COO 60.00 X 956047 0 522435 JAMES ADAMCZYK SR EVP - CRO 60.00 X 965532 0 441939 CHARLES LAI EXEC VP - CIO 60.00 X 540815 0 118149 MATHY HOGAN EXEC VP - PAYMENTS & DIGITAL BANKING 60.00 X 524142 0 68375 DIANNE OWEN EXEC VP - SALES & MARKETING 60.00 X 505862 0 84140 CATHY HERTZ EXEC VP - HUMAN RESOURCES 60.00 X 477975 0 59407 THOMAS HOWELL VP-FINANCIAL ADVISOR 60.00 X 1011654 0 37860 THOMAS BALDWIN III SVP - RETAIL BANKING & WEALTH MANAGEMENT 60.00 X 390942 0 72631 JORGE M FONT SVP - BUSINESS SERVICES 60.00 X 369532 0 67290 JAMES THORNBERRY SVP-OPERATIONS 60.00 X 353012 0 34875 BRYAN MEIZINGER SVP - LENDING 60.00 X 358725 0 33994 10024873 0 5061357 73 0 1 0 PSCU FINANCIAL SERVICES INC 560 CARILLON PARKWAY ST PETERSBURG FL 33716 DEBIT & CREDIT CARD PROCESSOR 5270949 VISA USA INC 1655 GRANT STREET CONCORD CA 94520 CREDIT CARD SETTLEMENT 4121763 NCR CORPORATION PO BOX 740641 LOS ANGELES CA 90074 CONSUMER ONLINE BANKING, ATM MAINTENANCE 3248005 WATAUGA GRP 37 N ORANGE AVE SUITE 400B ORLANDO FL 32801 MARKETING/ADVERTISING 2691990 GOOGLE PO BOX 33654 SAN FRANCISCO CA 94139 MARKETING/ADVERTISING 2629321 86 INTEREST INCOME ON LOANS 522100 89152557 89152557 FEES, CHARGES, & OTHER 522100 45418714 45418714 134571271 31308977 31308977 1886216 1391988 494228 494228 494228 FINANCE & INSURANCE 520000 6014329 6014329 6014329 172388805 135065499 6014329 31308977 X 48757 12355715 35124653 2046218 10603658 4852193 604476 289059 240913 1133923 1707578 8541602 2920624 11227059 3688568 559933 35887 14495290 103275 4074957 643171 VISA CREDIT EXPENSES 5159125 DEBIT EXPENSES 4389135 LOAN SERVICING EXPENSE 3493149 ATM EXPENSES 2537340 5253424 136129682 5131269 6172134 643926777 329757852 1999533 3963836 2103440988 2608161383 2192986 1895863 155642260 54310558 94578317 101331702 1050257842 1180440686 1731600 2315100 139789605 226774515 4043048917 4460813071 25638184 49639669 5134036 15699605 3665324304 4170122142 3696096524 4235461416 X 0 0 0 0 346952393 225351655 346952393 225351655 4043048917 4460813071 36259123 -157859861 0 X X 0 1 X 1 0 28987545 28987545 83684539 19146676 64537863 9976476 6693046 3283430 32993700 28470836 4522864 101331702 ACCRUED INCOME 7837935 ACCRUED INTEREST ON INVESTMENTS 4426874 ASSETS FROM LIQUIDATION LOANS 92501 CORPORATE ONE CAPITAL SHARES 1300534 DEPOSIT - NCUIF 38030123 INVESTMENTS IN CUSO 1649632 MORTGAGE SERVICING RIGHTS 9031269 OTHER ASSETS 74520137 SERP PLANS 70203878 ROU ASSETS 13606690 CITIZENS CASH SURRENDER 6074942 226774515 MEMBER SHARES 4170122142 4170122142 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE AND LOCAL INCOME TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE (IRC) AND STATE TAX LAWS. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME DERIVED BY STATE-CHARTERED CREDIT UNIONS. GENERALLY, THESE TAXES ARE INSIGNIFICANT TO THE CREDIT UNION. 1 FAIRWINDS FOUNDATION INC 135 W CENRAL BLVD SUITE 1230 ORLANDO FL 32801 320510999 501(C)(3) 48757 0 TO PROMOTE FINANCIAL LITERACY AND EDUCATION 1 0 PART I, LINE 2: FAIRWINDS CREDIT UNION SPONSORS FAIRWINDS FOUNDATION, INC. DONATIONS TO THE ORGANIZATION ARE USED TO PROMOTE FINANCIAL LITERACY. THE FOUNDATION'S BOARD IS COMPRISED OF EMPLOYEES OF THE CREDIT UNION WHO ENSURE FUNDS ARE USED APPROPRIATELY. X X X X 1 1 X X X 0 1 0 LARRY TOBIN CEO/PRESIDENT 971954 0 889124 0 548037 0 2351782 0 25336 0 4786233 0 0 0 KATHY CHONODY SR EVP- CFO 581154 0 409010 0 171356 0 1135991 0 7153 0 2304664 0 0 0 PHILLIP TISCHER SR EVP - COO 522122 0 295033 0 138892 0 514067 0 8368 0 1478482 0 0 0 JAMES ADAMCZYK SR EVP - CRO 409962 0 176084 0 379486 0 423111 0 18828 0 1407471 0 250000 0 THOMAS HOWELL VP-FINANCIAL ADVISOR 1004934 0 0 0 6720 0 18300 0 19560 0 1049514 0 0 0 CHARLES LAI EXEC VP - CIO 357348 0 100674 0 82793 0 110996 0 7153 0 658964 0 0 0 MATHY HOGAN EXEC VP - PAYMENTS & DIGITAL BANKING 340194 0 96604 0 87344 0 55200 0 13175 0 592517 0 0 0 DIANNE OWEN EXEC VP - SALES & MARKETING 333456 0 96350 0 76056 0 65312 0 18828 0 590002 0 0 0 CATHY HERTZ EXEC VP - HUMAN RESOURCES 326616 0 91892 0 59467 0 52255 0 7152 0 537382 0 0 0 THOMAS BALDWIN III SVP - RETAIL BANKING & WEALTH MANAGE 242770 0 53978 0 94194 0 54300 0 18331 0 463573 0 0 0 JORGE M FONT SVP - BUSINESS SERVICES 270286 0 58212 0 41034 0 54489 0 12801 0 436822 0 0 0 BRYAN MEIZINGER SVP - LENDING 258087 0 55519 0 45119 0 15539 0 18455 0 392719 0 0 0 JAMES THORNBERRY SVP-OPERATIONS 249237 0 53978 0 49797 0 15315 0 19560 0 387887 0 0 0 PART I, LINE 1A PROVIDES HOME SECURITY SYSTEMS FOR THE CEO AND CFO. PAYS FOR THE SECURITY MONITORING FOR THE CEO. PART I, LINE 4B THE BELOW-LISTED EXECUTIVES PARTICIPATE IN A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP). THE PLAN GUARANTEES SPECIFIC PAYMENTS WILL BE MADE TO THE EXECUTIVES ONCE ELIGIBILITY REQUIREMENTS ARE MET. THE BALANCE REPORTED BELOW REPRESENTS THE SERP BENEFIT LIABILITY AS OF DECEMBER 31, 2022. LARRY TOBIN - CEO/PRESIDENT $5,668,558 KATHY CHONODY - SR EVP- CFO $5,066,428 PHILLIP TISCHER - SR EVP- COO $2,158,539 MATHY HOGAN - EXECUTIVE VICE PRESIDENT -ESERVICES $132,073 DIANNE OWEN - EXECUTIVE VICE PRESIDENT -MARKETING $315,410 CHARLES LAI - CIO $425,558 JAMES ADAMCZYK- EXECUTIVE VICE PRESIDENT -LENDING $1,023,845 CATHY HERTZ - EXECUTIVE VICE PRESIDENT -HUMAN RESOURCES $210,852 JORGE M. FONT - SENIOR VICE PRESIDENT - BUSINESS SERVICES $223,595 JAMES THORNBERRY - SVP MEMBER EXPERIENCE - $83,117 BRYAN MEIZINGER - SVP RETAIL LENDING - $229,546 THOMAS BALDWIN III - SVP RETAIL BANKING & WEALTH MANAGEMENT - $48,000 THE FOLLOWING EMPLOYEES RECEIVED A PAYOUT DURING 2021: JAMES ADAMCZYK: $250,000 (SERP) THOMAS BALDWIN III: $50,000 (SERP) FORM 990, PART VI, SECTION A, LINE 6 ALL ACCOUNT HOLDERS ARE REFERRED TO AS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION MEMBERSHIP ELECTS THE BOARD OF DIRECTORS WHICH GOVERN THE OPERATIONS OF THE CREDIT UNION. 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 FORM 990 IS RECONCILED WITH THE FINANCIAL STATEMENTS AND RESPONSES ARE REVIEWED BY THE CFO AND CONTROLLER. FORM 990, PART VI, SECTION B, LINE 12C COMPLIANCE WITH POLICY IS MONITORED BY OUR INTERNAL AUDIT DEPARTMENT, ANNUALLY WITH LAW REVIEW AND MONTHLY REPORTING. FORM 990, PART VI, SECTION B, LINE 15 THE CEO'S COMPENSATION IS REVIEWED AND APPROVED BY THE MEMBERSHIP APPOINTED BOARD OF DIRECTORS USING AN INDEPENDENT CONSULTANT'S COMPARATIVE MARKET DATA AND INDUSTRY RECOMMENDATION. A COMPENSATION COMMITTEE CONSISTING OF BOARD MEMBERS AND OTHER VOLUNTEERS MAKE A RECOMMENDATION FOR A COMPENSATION PACKAGE AND PRESENT TO THE BOARD OF DIRECTORS FOR APPROVAL AND IMPLEMENTATION. ALL OTHER MANAGEMENT COMPENSATION IS DETERMINED BY THE CEO USING THE SIMILAR COMPARATIVE MARKET DATA AS APPLIED TO THE COMPANY'S EXISTING COMPENSATION POLICY. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY IS NOT MADE AVAILABLE FOR PUBLIC VIEWING. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL SERVICES 1,707,578. FORM 990, PART IX, LINE 24E MAINTENANCE 2,270,897. PROVISION FOR LOAN LOSSES 1,758,835. MISCELLANEOUS EXPENSES 1,116,612. TRAINING/DEVELOPMENT/EDUCATION 107,080. FORM 990, PART XI, LINE 2B: AUDITED FINANCIAL STATEMENTS ARE PREPARED ON A FISCAL YEAR BASIS BUT TAX REPORTING IS REQUIRED ON A CALENDAR YEAR-END. FORM 990, PART XI, 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. FAIRWINDS FINANCIAL SERVICES LLC 135 W CENTRAL BLVD ORLANDO FL 32801 593107994 INACTIVE - NO BUSINESS HAS BEEN PROCESSED FL -539 57638 FAIRWINDS CREDIT UNION FAIRWINDS INSURANCE SERVICES LLC 135 W CENTRAL BLVD ORLANDO FL 32801 452718103 PROVIDING INSURANCE SERVICES FL 40721 476136 FAIRWINDS CREDIT UNION FAIRWINDS FOUNDATION INC 135 W CENRAL BLVD SUITE 1230 ORLANDO FL 32801 320510999 CHARITABLE AND EDUCATIONAL PURPOSES FL 501(C)(3) PF FAIRWINDS CREDIT UNION 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 FAIRWINDS FOUNDATION INC B 48757 ACTUAL