2023-11-10T20:46:11-06:00 2022-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2022-01-01 590687423 FIRST COMMERCE CREDIT UNION FIRS 8504880035 2073 SUMMIT LAKE DRIVE 100 TALLAHASSEE FL 32317 ANGELA TERHUNE EVP/CFO 8005335772 2023-11-09 1 ANGELA TERHUNE 999009999 0 JOHN J MURNANE JR P03021572 3052328272 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z CECILIA HOMISON 2073 SUMMIT LAKE DRIVE SUITE 100 TALLAHASSEE FL 32317 49646354 0 2106 X WWW.FIRSTCOMMERCECU.ORG X 1940 FL TO PROVIDE SERVICES AND EDUCATION TO MEMBERS IN THE FRAMEWORK OF A FINANCIAL COOPERATIVE. 7 7 309 12 190707 0 0 0 44873304 45957017 1536149 3495456 448468 0 46857921 49452473 0 25000 0 0 17165248 16332390 0 0 0 22246324 24737873 39411572 41095263 7446349 8357210 972658522 1014264212 889433748 942949692 83224774 71314520 TO BE OUR MEMBERS' FINANCIAL PARTNERS FOR LIFE. 0 0 TALLAHASSEE'S #1 AUTO LENDING PROGRAM FOR OVER A DECADE. FIRST COMMERCE HAS EARNED THE TITLE OF TALLAHASSEE'S NUMBER ONE AUTO LENDER YEAR AFTER YEAR. THIS TITLE HAS BEEN CONSISTENTLY EARNED BECAUSE THE CREDIT UNION OFFERS A RANGE OF AUTO LOAN CHOICES FOR ALMOST EVERY BUDGET AND CREDIT LEVEL. FIRST COMMERCE'S FLEXIBLE TERMS AND COMPETITIVE RATES ALLOW MEMBERS TO PURCHASE THE VEHICLE THEY NEED AT A MONTHLY PAYMENT THEY CAN AFFORD. FCCU OFFERS A FULL RANGE OF FINANCIAL PRODUCTS FOR BUSINESSES. THEY INCLUDE LENDING FOR OPERATING EXPENSES, EQUIPMENT, INVENTORY, REAL ESTATE, AND OTHER NEEDS AS WELL AS BUSINESS CREDIT CARD OFFERINGS. DEPOSIT PRODUCTS FROM BASIC BUSINESS CHECKING TO A FULL SUITE OF TREASURY SERVICES ARE ALSO AVAILABLE. FCCU INCORPORATES INTEREST BEARING ACCOUNTS, TIME DEPOSITS, FUNDS TRANSFER, AND DIGITAL AND REMOTE BUSINESS SERVICES. FIRST COMMERCE CREDIT UNION OFFERS A WIDE ARRAY OF ELECTRONIC SERVICES TO MEMBERS. ALMOST 46,000 MEMBERS UTILIZE DIGITAL BANKING TO KEEP TRACK OF THEIR ACCOUNTS, MAKE TRANSFERS, MAKE MOBILE DEPOSITS AND PAY BILLS. FCCU'S BILL PAY OFFERS SAME DAY BILL PAY AND OVERNIGHT CHECK OPTIONS TO PROVIDE MEMBERS FLEXIBILITY IN HOW THEY MAKE THEIR PAYMENTS. ACCOUNT-TO-ACCOUNT TRANSFERS PROVIDE MEMBERS CONVENIENT OPTIONS IN MOVING THEIR FUNDS. OVER HALF OF OUR ACTIVE ONLINE BANKING USERS HAVE ENROLLED IN MOBILE BANKING. FCCU PRESENTS MEMBERS AND NON-MEMBERS WITH ONLINE OPTIONS TO OPEN AN ACCOUNT; APPLY FOR AUTO OR PERSONAL LOANS; AND APPLY FOR A MORTGAGE. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 1 15219 0 1 309 1 1 1 0 0 0 0 0 0 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 WILMA WOOTEN CONTROLLER 8504103563 2073 SUMMIT LAKE DRIVE SUITE 100 TALLAHASSEE FL 32317 ALAN NEUBAUER BOD CHAIRPERSON 1.00 X 0 0 0 KATHY ARRANT BOD TREASURER 1.00 X 0 0 0 SHONDA KNIGHT BOD DIRECTOR 1.00 X 0 0 0 JOHN GRAYSON BOD SECRETARY 1.00 X 0 0 0 JERRY OSTERYOUNG BOD DIRECTOR 1.00 X 0 0 0 CANITA PETERSON BOD VICE CHAIRPERSON 1.00 X 0 0 0 CASEY STOUTAMIRE BOD DIRECTOR 1.00 X 0 0 0 CECILIA D HOMISON CEO 40.00 X 581104 0 89486 DENNIS G ADAMS SENIOR EXECUTIVE VICE PRESIDENT 40.00 X 376890 0 65695 ANGELA TERHUNE CFO 40.00 X 166423 0 40258 MARY B ESTES EXECUTIVE VICE PRESIDENT 40.00 X 441630 0 74464 KIMBERLY S HOWES COO 40.00 X 259562 0 35903 JUSTIN HOF CHIEF INFORMATION OFFICER 40.00 X 253733 0 56038 STEVEN REYNOLDS VICE PRESIDENT OF BUSINESS SERVICES 40.00 X 194247 0 24226 BARBARA WILLIAMS-ANDERSON MARKET EXECUTIVE 40.00 X 167161 0 37953 WILMA T WOOTEN CONTROLLER 40.00 X 160871 0 31737 WARREN SUMNER DIRECTOR OF LENDING 40.00 X 150068 0 34231 JOY SANDERS VICE PRESIDENT OF MEMBER SERVICES 40.00 X 149405 0 43738 2901094 0 533729 21 0 1 0 FISERV PO BOX 745148 ATLANTA GA 303745148 DEBIT CARD PROCESSOR/DRIVE ATMS 1232784 SIMPLERBUILT INC 5205 MCNEIL BLVD TALLAHASSEE FL 32305 CONSTRUCTION - RENOVATIONS 772568 Q2 SOFTWARE INC P O BOX 205970 DALLAS TX 75320 ONLINE BANKING PROVIDER 772084 NCR 14181 COLLECTIONS CTR DR CHICAGO IL 60693 ATM/ITM VENDOR AND MAINTENANCE 645303 LIGHTSTREAM GROUP INC 179 W BROAD ST TELFORD PA 18969 MARKETING CONSULTANTS 610548 41 LOANS TO MEMBERS 522100 30756209 30756209 FEES, CHARGES, & OTHER 522100 15010101 15010101 FINANCE & INSURANCE 520000 190707 190707 45957017 3460957 3460957 228380 193881 34499 34499 34499 49452473 49261766 190707 0 X 25000 2441186 10642313 617286 1699446 932159 503661 173460 176631 1357742 1646904 2455426 550553 839375 160682 65326 4758430 79898 2730369 318818 DEBIT CARD FEES AND REB 3114961 MAINTENANCE/RENTAL/REPA 2448016 LOAN SERVICING 1492795 BILL PAY/MOBILE BANKING 887464 977362 41095263 21756314 23163269 124241144 103406746 8301789 8572852 2145228 2115257 647990045 717861979 1813235 2158636 61511674 25936069 37063131 35575605 103627731 96110084 2560366 659922 23159539 24639862 972658522 1014264212 10773264 15741549 470358 311842 5233333 1433333 15000000 15000000 857956793 910462968 889433748 942949692 X 0 0 0 0 83224774 71314520 83224774 71314520 972658522 1014264212 X 8357210 -15791816 -4475648 X X 0 1 X 1 0 0 1 X 8789035 8789035 39825445 14578588 25246857 12897194 11357481 1539713 35575605 SHARE DRAFTS 260081687 SHARES 213640522 MONEY MARKET 128555519 IRA SHARES 14084671 CERTIFICATES 294100569 910462968 X 49452473 0 49452473 0 49452473 41095263 0 41095263 0 41095263 PART IV, LINE 2B: AS A LOAN SERVICER, THE CREDIT UNION RECEIVES PRINCIPAL PAYMENTS, INTEREST PAYMENTS, TAX PAYMENTS AND INSURANCE PAYMENTS AND THEN REMITS THESE FUNDS TO THE APPLICABLE THIRD PARTIES ON BEHALF OF THE BORROWERS. 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 FCCU FOUNDATION INC 2073 SUMMIT LAKE DRIVE TALLAHASSEE FL 32317 464676285 501(C)(3) 25000 0 TO ASSIST FCCU FOUNDATION INC. IN CARRYING OUT ITS PRIMARY FUNCTION OF CONDUCTING VIRTUAL AND IN-PERSON WORKSHOPS TO PROMOTE FINANCIAL LITERACY AMONG THE MEMBERS OF THE COMMUNITY AND LOCAL AREA COLLEGE STUDENTS 1 PART I, LINE 2: AMOUNTS ARE CHARITABLE CONTRIBUTIONS NOT GRANTS. THE RECIEVING FOUNDATION DETERMINES HOW THE CONTRIBUTIONS ARE ALLOCATED TO FUND ITS PROGRAM SERVICES. X X X 1 1 X X X 0 1 0 CECILIA D HOMISON CEO 426618 0 125000 0 29486 0 55576 0 33910 0 670590 0 0 0 MARY B ESTES EXECUTIVE VICE PRESIDENT 252756 0 59280 0 129594 0 48132 0 26332 0 516094 0 0 0 DENNIS G ADAMS SENIOR EXECUTIVE VICE PRESIDENT 274476 0 72500 0 29914 0 49429 0 16266 0 442585 0 0 0 JUSTIN HOF CHIEF INFORMATION OFFICER 215757 0 33463 0 4513 0 32897 0 23141 0 309771 0 0 0 KIMBERLY S HOWES COO 216422 0 42000 0 1140 0 31222 0 4681 0 295465 0 0 0 STEVEN REYNOLDS VICE PRESIDENT OF BUSINESS SERVICES 144841 0 44901 0 4505 0 18064 0 6162 0 218473 0 0 0 ANGELA TERHUNE CFO 151380 0 0 0 15043 0 20822 0 19436 0 206681 0 0 0 BARBARA WILLIAMS-ANDERSON MARKET EXECUTIVE 61481 0 103575 0 2105 0 20649 0 17304 0 205114 0 0 0 JOY SANDERS VICE PRESIDENT OF MEMBER SERVICES 126324 0 0 0 23081 0 21285 0 22453 0 193143 0 0 0 WILMA T WOOTEN CONTROLLER 144743 0 0 0 16128 0 23977 0 7760 0 192608 0 0 0 WARREN SUMNER DIRECTOR OF LENDING 137232 0 0 0 12836 0 28954 0 5277 0 184299 0 0 0 PART I, LINE 4B CECILIA HOMISON PARTICIPATES IN A SECURED SPLIT DOLLAR PROGRAM WHEREBY FCCU LOANS THE OFFICER FUNDS FOR THE PURCHASE OF TWO LIFE INSURANCE POLICIES. THE FIRST POLICY IS KNOWN AS THE REPAYMENT POLICY AND IS SPECIFICALLY DESIGNED TO REPAY THE CREDIT UNION THE AMOUNT OF THE LOAN PLUS INTEREST UPON THE DEATH OF THE INSURED. THE SECOND POLICY IS THE ACCUMULATION POLICY AND IT IS DESIGNED TO PROVIDE FOR FUTURE POLICY LOANS AND DEATH BENEFIT PROTECTION FOR THE OFFICER. CECILIA D HOMISON CEO LIFE INSURANCE FUNDING X 1524027 2115257 0 1 1 2115257 SCH L, PART II THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." ALTHOUGH THE IRS REQUIRES REPORTING IN PART II AS A LOAN TO AN INTERESTED PARTY, THIS IS NOT AN ACTUAL LOAN. THERE IS NO TRANSFER OF FUNDS TO THE PARTICIPANT NOR AN OBLIGATION TO REPAY THE FUNDS. INSTEAD THE CREDIT UNION RECOVERS ANY OUTLAYS, PLUS INTEREST, FROM THE UNDERLYING POLICY. THAT IS, THE CREDIT UNION DEPOSITS FUNDS DIRECTLY INTO A LIFE INSURANCE POLICY TO ENSURE REPAYMENT. AT SPECIFIED TIMES, THE PARTICIPANT MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE POLICY TO SUPPLEMENT RETIREMENT INCOME. THE BORROWINGS ARE MONITORED TO ENSURE THE POLICY WILL PAY A DEATH BENEFIT AT LEAST SUFFICIENT TO COVER THE CREDIT UNION'S OUTLAYS PLUS INTEREST. ANY REMAINING DEATH BENEFITS ARE DIVIDED BETWEEN THE CREDIT UNION AND THE PARTICIPANT'S BENEFICIARIES AS AGREED UPON. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS MEMBERS. THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNION'S MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IN THE FORM OF CASH DIVIDENDS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. 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 THE MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11B THE ACCOUNTING DEPARTMENT DOES VERIFY AND TIE OUT THE FIGURES TO THE FINANCIAL STATEMENTS. THE REPORT IS REVIEWED BY THE CONTROLLER AND THE CFO. FORM 990, PART VI, SECTION B, LINE 12C THE EXTERNAL AUDITORS PERFORM AN AUDIT OF EMPLOYEE ACCOUNTS AND THEIR RESPECTIVE FINANCIAL AND GENERAL LEDGER TRANSACTIONS ON A QUARTERLY BASIS TO MONITOR AND VERIFY THAT THERE ARE NO TRANSACTIONS PERFORMED BY THE EMPLOYEE AND/OR ON THEIR RESPECTIVE ACCOUNT THAT ARE IMPROPER AND/OR CONFLICT WITH THEIR JOB RESPONSIBILITIES. FORM 990, PART VI, SECTION B, LINE 15 A MINIMUM OF ONCE A YEAR, COMPARABLE COMPENSATION DATA IS RESEARCHED USING MULTIPLE RESOURCES INCLUDING COMPDATASURVEYS (BANKING AND FINANCE), CUES SURVEYS AND CUNA SURVEYS. USING THE TEN POINT FACTORS, ALL POSITIONS ARE EVALUATED FOR BOTH INTERNAL AND EXTERNAL EQUITY TO DETERMINE THE APPROPRIATE SALARY RANGE. THIS RANGE IS APPROVED BY THE CEO AND REVIEWED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 CONFLICTS OF INTEREST POLICIES ARE NOT PUBLICLY PUBLISHED. THE CALL REPORT IS FILED QUARTERLY WHICH IS PUBLIC INFORMATION AND OUR ANNUAL REPORT, WHICH INCLUDES FINANCIAL STATEMENTS, IS AVAILABLE TO ALL MEMBERS. IF REQUESTED, BY-LAWS WOULD BE MADE AVAILABLE FOR VIEWING AT THE ADMINISTRATIVE OFFICES. FORM 990, PART IX, LINE 24E GOVERNMENT AFFAIRS/EVENTS 264,897. MISCELLANEOUS 258,306. ATM EXPENSES 242,810. EDUCATION/TRAINING 183,861. PROVISION FOR LOAN LOSSES 29,817. OREO MAINTENANCE -2,329. FORM 990, PART XI, LINE 9: CUMULATIVE CHANGE IN AN ACCOUNTING PRINCIPAL- EARLY ADOPTION OF ASC 326 -4,475,648. 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. SIX PILLARS FINANCIAL ADVISORS LLC 2073 SUMMIT LAKE DRIVE SUITE 100 TALLAHASSEE FL 32317 453322731 FINANCIAL ADVISORS FL 289303 162341 FIRST COMMERCE CREDIT UNION FFCU FOUNDATION 2073 SUMMIT LAKE DRIVE TALLAHASSEE FL 32317 464676285 WORKSHOPS TO PROMOTE FINANCIAL LITERACY FL 501(C)(3) PF 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 FCCU FOUNDATION INC B 25000 ACTUAL