2022-09-29T08:49:59-05:00 2021-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2021-01-01 590747276 UNIVERSITY CREDIT UNION UNIV 7864255000 13241 SW 136 ST MIAMI FL 331865822 ALBERT E ROSE EVP/COO 7864255024 2022-09-28 1 ALBERT ROSE 999009999 DOUGLAS J ORTH P01076394 3052328272 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z MICHAEL J WELCH SR 13241 SW 136 STREET MIAMI FL 33186 7623548 0 2106 X WWW.MYUNICU.COOP X 1947 FL THE MISSION OF UNIVERSITY CREDIT UNION IS TO PROVIDE A VARIETY OF QUALITY FINANCIAL SERVICES FOR OUR MEMBERS TO IMPROVE THEIR FINANCIAL STATUS. 9 9 69 11 39427 0 0 0 5578053 5593549 2003567 2029999 0 0 7581620 7623548 0 0 0 0 3089435 3002830 0 0 0 4267141 3725188 7356576 6728018 225044 895530 244482232 259434807 222898202 239289762 21584030 20145045 TO PROVIDE A VARIETY OF QUALITY FINANCIAL SERVICES FOR OUR MEMBERS TO IMPROVE THEIR FINANCIAL STATUS. 0 0 INCOME FROM CREDIT UNION MEMBERSHIP AND FROM INVESTMENT OF MEMBERS' FUNDS PROVIDE THE FOUNDATION FROM WHICH THE CREDIT UNION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 2449 0 1 69 1 1 1 0 0 0 0 0 0 0 X 9 9 1 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X UNIVERSITY CREDIT UNION 7864255000 13241 SW 136 STREET MIAMI FL 33186 REMBERTO SANCHEZ CHAIRMAN 5.00 X 0 0 0 HUMBERTO SPEZIANI VICE CHAIRMAN 5.00 X 0 0 0 BENJAMIN SALZ TREASURER 5.00 X 0 0 0 DR SCOTT INGOLD SECRETARY 5.00 X 0 0 0 BOB BURNS BOARD MEMBER 5.00 X 0 0 0 STEWART SERUYA BOARD MEMBER 5.00 X 0 0 0 THOMAS SANTORO BOARD MEMBER 5.00 X 0 0 0 NICHOLAS DICIACCO BOARD MEMBER 5.00 X 0 0 0 ALEX COLLINS BOARD MEMBER 5.00 X 0 0 0 ANTHONY MUSTO ASSOCIATE BOARD MEMBER 5.00 X 0 0 0 KATHIE ALEXANDER ASSOCIATE BOARD MEMBER 5.00 X 0 0 0 MICHAEL J WELCH SR PRESIDENT/CEO 40.00 X 808087 0 25227 ALBERT E ROSE EVP/COO 40.00 X 168069 0 144230 ERIC J HOSKINS SVP-CIO 40.00 X 119463 0 74822 THOMAS SMITH VP/CONTROLLER 40.00 X 113735 0 3582 1209354 0 247861 4 0 1 0 FISERV PO BOX 208457 DALLAS TX 753208457 CORE PROCESSOR, HOME BANKING, BILL PAYER 590970 PSCU 560 CARILLON PARKWAY ST PETERSBURG FL 33716 CREDIT CARD PROCESSING 258167 Q2 SOFTWARE INC 10355 PECAN PARK BLVD AUSTIN TX 78729 SOFTWARE 225819 MIAMI DADE TAX COLLECTOR 200 NW 2 AVENUE MIAMI FL 33128 PROPERTY TAXES 130292 AT&T PO BOX 64 CAROL STREAM IL 60197 PHONE/INTERNET SERVICES 111978 6 INCOME ON LOANS 522100 3816597 3816597 FEES AND CHARGES 522100 1737525 1737525 FINANCE & INSURANCE 520000 39427 39427 5593549 2029999 2029999 7623548 7584121 39427 0 X 937709 1501639 72522 298481 192479 23235 51972 273148 112136 256453 409798 273372 2518 13178 264818 234476 181244 LOAN SERVICING 468839 DEBIT/ATM 359039 E-BRANCH/BILLPAY 287167 MAINTENANCE 207988 305807 6728018 798794 890399 40326285 34151921 1487981 1180077 102807487 96255616 201883 292791 15883521 6271607 9779121 9611914 56288882 101717396 25084836 9642336 333 7706630 5692357 244482232 259434807 3685832 2962144 219212370 236327618 222898202 239289762 X 0 0 0 0 21584030 20145045 21584030 20145045 244482232 259434807 895530 -2334515 0 X X 0 1 X 1 0 3001502 3001502 8272094 2364551 5907543 761196 620515 140681 3848729 3286541 562188 9611914 SHARE DRAFTS 70921496 SHARES AND CLUBS 92081235 MONEY MARKET 47784325 IRA SHARES 4902820 SHARES AND IRA CERTIFICATES 20637742 236327618 X 7623548 0 7623548 0 7623548 6728018 0 6728018 0 6728018 PART X, LINE 2: INCOME TAXES 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 X X 0 1 0 MICHAEL J WELCH SR PRESIDENT/CEO 282281 0 0 0 525806 0 10086 0 15141 0 833314 0 519506 0 ALBERT E ROSE EVP/COO 164519 0 0 0 3550 0 124004 0 20226 0 312299 0 0 0 ERIC J HOSKINS SVP-CIO 119063 0 0 0 400 0 74822 0 0 0 194285 0 0 0 PART I, LINE 4B THREE EMPLOYEES PARTICIPATE IN A 457(F) PLAN, MICHAEL J. WELCH SR., ALBERT E. ROSE, AND ERIC HOSKINS. DURING 2021, THE FOLLOWING 457(F) BENEFIT PAYOUTS WERE DISTRIBUTED: MICHAEL J. WELCH SR.: $519,506 FORM 990, PART VI, SECTION A, LINE 2 FAMILY RELATIONSHIP - BOARD CHAIRMAN, REMBERTO SANCHEZ IS THE SON-IN-LAW OF BOARD VICE CHAIRMAN, SCOTT INGOLD. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION MEMBERSHIP MAY PARTICIPATE IN THE ELECTION OF OFFICIALS. 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 FORM IS PREPARED IN PART BY THE ASSISTANT VP/CONTROLLER AND THE HR PROFESSIONAL. INFORMATION IS SENT TO OUR AUDITORS, DOEREN MAYHEW TO COMPLETE THE FORM. IT IS THEN REVIEWED BY THE ASSISTANT VP/CONTROLLER AND EVP/COO AND POSSIBLY BY THE PRESIDENT/CEO BEFORE THE FINAL FILING. FORM 990, PART VI, SECTION B, LINE 12C THE STANDARDS OF CONDUCT POLICY IS SENT TO ALL TEAM MEMBERS AND ALL MEMBERS OF THE BOARD OF DIRECTORS TO REVIEW AND SIGN ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS SETS GOALS AND HAS AN ANNUAL REVIEW FOR THE PRESIDENT/CEO AND THEY DETERMINE THE SALARY. ALL OTHER EMPLOYEES RECEIVE A REVIEW EVERY DECEMBER AND THAT IS WHEN THE ANNUAL RAISES ARE DETERMINED BASED ON THE PERFORMANCE OF THE EMPLOYEE AND THE RAISE POOL APPROVED BY THE BOD. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S CONFLICT OF INTEREST POLICY IS NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S FINANCIAL STATEMENTS ARE MADE AVAILABLE FOR PUBLIC VIEWING ON NCUA.GOV VIA THE QUARTERLY 5300 FILING. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL FEES 273,148. FORM 990, PART IX, LINE 24E TAXES 132,712. PROVISION FOR LOAN LOSSES 128,586. MISCELLANEOUS EXPENSE 44,509. 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.