2022-11-15T15:09:16-06:00 2021-12-31 410746749 CLIFTONLARSONALLEN LLP 109 N MAIN STREET SUITE 200 AUSTIN MN 55912 990 2021-01-01 590248325 STATE CHARTERED CREDIT UNIONS IN FLORIDA 121 FINANCIAL CREDIT UNION STAT 9047236300 P O BOX 40769 JACKSONVILLE FL 32203 DAVID F MAROVICH PRESIDENT/CEO 9047236300 2022-11-09 1 DAVID MAROVICH 999009999 TANYA MEDGAARDEN P01717240 5074347000 2022-11-07 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z DAVID F MAROVICH P O BOX 40769 JACKSONVILLE FL 32203 34845788 0 X WWW.121FCU.ORG X 1935 FL PROVIDING PERSONAL SOLUTIONS TO INSPIRE FINANCIAL WELL-BEING. 8 8 178 13 452313 0 0 0 30464810 30480460 795342 2451822 90539 250813 31350691 33183095 0 0 2258025 1499709 10508497 11587902 0 0 0 18499553 14993642 31266075 28081253 84616 5101842 598550758 664348175 544346102 605884954 54204656 58463221 BUILDING RELATIONSHIPS WITH MEMBERS, ASSOCIATES, AND THE COMMUNITY BY PROVIDING PERSONAL SOLUTIONS TO INSPIRE FINANCIAL WELL-BEING. 0 0 ENCOURAGING THRIFT AMONG OUR MEMBERS, CREATING SOURCES OF CREDIT AT FAIR AND REASONABLE RATES OF INTEREST, AND PROVIDING AN OPPORTUNITY FOR OUR MEMBERS TO USE AND CONTROL THEIR RESOURCES ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITION. 0 0 0 0 0 0 0 1 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 14567 0 1 178 1 1 1 0 0 0 0 0 0 0 X 8 8 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 0 0 X BETH LIGHTSEY 9047236300 701 RIVERSIDE PARK PL JACKSONVILLE FL 32204 SHELBA WILLIAMS CHAIRPERSON 2.00 X X 0 0 0 HAROLD BOREE VICE CHAIRPERSON 2.00 X X 0 0 0 CYNTHIA DELASSUS TREASURER 2.00 X X 0 0 0 JOHN SCOTT III SECRETARY 2.00 X X 0 0 0 BILLIE GREENLIEF DIRECTOR 2.00 X 0 0 0 MICHAEL HOGAN DIRECTOR 2.00 X 0 0 0 WILLIAM MACOMBER JR DIRECTOR 2.00 X 0 0 0 ROBERT GIPSON DIRECTOR 2.00 X 0 0 0 DAVID MAROVICH PRESIDENT/CEO 40.00 X 348207 0 27485 CYNDI KOAN CFO 40.00 X 240531 0 45156 PAUL BLACKSTONE CHIEF OPERATIONS OFFICER 40.00 X 308156 0 56515 CATHY HUFSTETLER SVP OF LENDING 40.00 X 202684 0 37524 CLARA KOVARIK VP OF HUMAN RESOURCES 40.00 X 140502 0 18791 ADAM WADE VP OF MARKETING 40.00 X 167268 0 17779 BETH LIGHTSEY CONTROLLER 40.00 X 134005 0 16444 PETER HAYES VP - BUSINESS LENDING 40.00 X 146766 0 20223 JASON ROBERTS IT MANAGER 40.00 X 134734 0 8688 1822853 0 248605 11 0 1 0 AULD & WHITE CONSTRUCTORS LLC 4168 SOUTHPOINT PKWY STE 101 JACKSONVILLE FL 32216 CONSTRUCTION 1160541 FORESHEE CONTRACTING SERVICES 14600-52 DUVAL PL W JACKSONVILLE FL 32218 CONSTRUCTIONS 1020098 FISERV 255 FISERV DR BROOKFIELD WI 53045 CREDIT CARD 950008 TRUHOME SOLUTIONS LLC 9601 LEGLER RD LENEXA KS 66219 MORTGAGE LOAN SERVICER 886117 NCR CORPORATION 5555 ROOSEVELT BLVD JACKSONVILLE FL 32244 SOFTWARE 730588 30 INCOME ON MEMBER LOANS 522100 20313647 20313647 FEES AND CHARGES 522100 5030027 4577714 452313 INTERCHANGE INCOME 522100 3883222 3883222 OTHER MEMBER INCOME 522100 1253564 1253564 30480460 719659 719659 56742 0 56742 56742 56742 3394856 1662693 1732163 1732163 1732163 OTHER INCOME 522100 194071 194071 194071 33183095 30222218 452313 2508564 1499709 1266258 8390498 364922 934216 632008 275344 199253 427192 2501238 3262107 2559606 1473677 166791 141714 1762810 215673 LOAN SERVICING 2057549 OTHER EXPENSES 276454 OPERATING FEES 122890 PROVISION FOR LOAN LOSS -448656 28081253 15031135 12623875 96938556 113189938 1409622 1313137 428170497 402700204 3377783 2248851 44874742 20690254 22469162 24184488 10175310 81488183 2237026 5750000 2280501 18741667 18568998 598550758 664348175 3068465 3352407 139427 1628870 381126 395537 20000000 520757084 600508140 544346102 605884954 X 0 0 0 0 54204656 58463221 54204656 58463221 598550758 664348175 X 5101842 -843275 -2 X X 0 1 X 1 0 0 1 X 5220982 5220982 15535710 3377259 12158451 1755581 703814 1051767 20166878 16609181 3557697 2195591 2195591 24184488 MEMBERS' SHARE AND DEPOSIT ACCOUNTS 600508140 600508140 X 33183584 489 489 33183095 0 33183095 28081741 488 488 28081253 0 28081253 PART IV, LINE 2B: THE ESCROW FUNDS HELD BY THE CREDIT UNION ARE MEMBERS FUNDS TO MAKE PAYMENTS ON THEIR PROPERTY TAXES AND INSURANCE. THE FUNDS ARE HELD BY THE CREDIT UNION, AND SERVICED BY THE CREDIT UNION'S THIRD PARTY MORTGAGE SERVICER. THE CREDIT UNION HAS AN OBLIGATION TO ALLOCATE FUNDS WHEN PAYMENTS ARE MADE, AND TO MAKE PROPERTY TAX AND INSURANCE PAYMENTS TIMELY. PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL INCOME TAXES ON INCOME RELATED TO THE EXEMPT PURPOSE OF THE CREDIT UNION. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION DESCRIBED IN INTERNAL REVENUE CODE (IRC) SECTION 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES THAT ARE IN FURTHERANCE OF ITS EXEMPT PURPOSES. IN THE OPINION OF MANAGEMENT, ANY LIABILITY ARISING FROM FEDERAL OR STATE TAXATION OF ACTIVITIES DEEMED TO BE UNRELATED TO ITS EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL CONDITION OR RESULTS OF OPERATIONS. THE CREDIT UNION'S INCOME TAX FILINGS ARE SUBJECT TO AUDIT BY VARIOUS TAXING AUTHORITIES AND OPEN AUDIT TAX PERIODS INCLUDE 2017 - 2020. PART XI, LINE 2D - OTHER ADJUSTMENTS: FEE INCOME 489. PART XII, LINE 2D - OTHER ADJUSTMENTS: FEE INCOME 488. X 1 1 X X 0 0 0 DAVID MAROVICH PRESIDENT/CEO 315207 0 33000 0 0 0 13991 0 13494 0 375692 0 0 0 PAUL BLACKSTONE CHIEF OPERATIONS OFFICER 258156 0 50000 0 0 0 16597 0 39918 0 364671 0 0 0 CYNDI KOAN CFO 200531 0 40000 0 0 0 14561 0 30595 0 285687 0 0 0 CATHY HUFSTETLER SVP OF LENDING 170126 0 32558 0 0 0 12136 0 25388 0 240208 0 0 0 ADAM WADE VP OF MARKETING 157103 0 10165 0 0 0 10026 0 7753 0 185047 0 0 0 PETER HAYES VP - BUSINESS LENDING 131766 0 15000 0 0 0 9674 0 10549 0 166989 0 0 0 CLARA KOVARIK VP OF HUMAN RESOURCES 130298 0 10204 0 0 0 8444 0 10347 0 159293 0 0 0 BETH LIGHTSEY CONTROLLER 123849 0 10156 0 0 0 8170 0 8274 0 150449 0 0 0 PART I, LINE 1A THE ORGANIZATION PROVIDED TRAVEL FOR COMPANIONS FOR THE FOLLOWING INDIVIDUALS: SHELBA WILLIAMS $530 FORM 990, PART VI, SECTION A, LINE 6 MEMBERSHIP IN THIS CREDIT UNION IS AVAILABLE TO THE EMPLOYEES (ACTIVE OR RETIRED) AND THEIR IMMEDIATE FAMILIES OF COMPANIES PROVIDING TELECOMMUNICATIONS SERVICES; AND, TO ORGANIZATIONS WHOSE MEMBERS ARE OF THE SAME GENERAL GROUP. MEMBERSHIP IN THIS CREDIT UNION IS AVAILABLE TO INDIVIDUALS THAT WORK, LIVE OR ATTEND SCHOOL IN THE FLORIDA COUNTIES OF DUVAL, CLAY, ST. JOHNS, NASSAU, BAKER, COLUMBIA, UNION, BRADFORD, ALACHUA, PUTNAM, AND FLAGLER AND THEIR IMMEDIATE FAMILIES. THE IMMEDIATE FAMILY IS DEFINED TO INCLUDE ANY PERSON RELATED TO THE PRIMARY MEMBER BY BLOOD OR MARRIAGE. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION HAS AN ANNUAL ELECTION IN WHICH THE MEMBERS ELECT THE BOARD OF DIRECTORS. 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 ORGANIZATION DOES NOT PROVIDE A COPY OF FORM 990 TO THE GOVERNING BODY PRIOR TO FILING. THE 990 IS REVIEWED BY THE CEO AND CFO BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C ALL EMPLOYEES ARE REQUIRED TO SIGN A STATEMENT ANNUALLY STATING THAT THEY ARE NOT INVOLVED IN ANY TRANSACTIONS THAT WOULD BE A CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15A THE REVIEW OF THE CEO'S COMPENSATION IS DONE ANNUALLY BY THE BOARD OF DIRECTORS (BOD). THE BOD USES AN EXECUTIVE COMPENSATION SURVEY FROM AN INDEPENDENT THIRD PARTY AND EACH MEMBER DOES AN INDIVIDUAL REVIEW TO DETERMINE THE CEO'S COMPENSATION. THE CEO'S COMPENSATION IS DOCUMENTED IN THE BOARD MINUTES. THE CEO USES AN EXECUTIVE COMPENSATION SURVEY FROM AN INDEPENDENT THIRD PARTY AS WELL AS AN INTERNAL INDEPENDENT SALARY ADMINISTRATION SYSTEM TO DETERMINE COMPENSATION FOR OTHER OFFICERS AND KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION MAKES ITS FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: ROUNDING -2. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED.