2022-11-02T14:57:32-05:00 2021-12-31 410746749 CLIFTONLARSONALLEN LLP 109 N MAIN STREET SUITE 200 AUSTIN MN 55912 990 2021-01-01 590227113 COMMUNITY FIRST CREDIT UNION OF FLORIDA COMM 9043717987 637 NORTH LEE STREET JACKSONVILLE FL 32204 SAM INMAN CFO 9043718080 2022-11-01 1 SAM INMAN 999009999 TANYA MEDGAARDEN P01717240 5074347000 2022-11-01 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z JOHN HIRABAYASHI 637 NORTH LEE STREET JACKSONVILLE FL 32204 95344045 0 2106 X WWW.COMMUNITYFIRSTFL.ORG X CU 1935 FL PROVIDING FINANCIAL SOLUTIONS FOR EVERY STAGE OF LIFE. 9 9 459 13 169425 0 0 0 86828416 90362844 4896645 4350635 8360 3108 91733421 94716587 38400 30000 8623794 5959932 27306163 28589691 0 0 0 40367626 31679688 76335983 66259311 15397438 28457276 2071518749 2430634345 1813517688 2149618070 258001061 281016275 COMMUNITY FIRST CREDIT UNION OF FLORIDA'S MISSION IS TO PROVIDE THE HIGHEST IN QUALITY FINANCIAL SOLUTIONS FOR EVERY STAGE OF LIFE. 0 0 INCOME FROM THE CREDIT UNION MEMBERSHIP AND FROM THE INVESTMENT OF MEMBERS' FUNDS PROVIDE THE BASIS FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP. THE CREDIT UNION OFFERS A VARIETY OF FINANCIAL PRODUCTS INCLUDING, MORTGAGE, AUTOMOBILE, CREDIT CARDS, AND PERSONAL SIGNATURE LOANS. $837,762,991 IN NEW LOANS WERE ORIGINATED DURING 2021 AND MORE THAN $1,498,064,328 IN LOAN BALANCES WERE SERVICED DURING 2021. MEMBERS MAY CHOOSE FROM A NUMBER OF ACCOUNT TYPES INCLUDING REGULAR SHARES, CHECKING, MONEY MARKET, AND RETIREMENT ACCOUNTS. $2,118,448,836 IN DEPOSIT ACCOUNTS WERE MAINTAINED FOR 158,442 MEMBERS DURING 2021. 0 0 1 0 0 0 0 1 0 1 1 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 0 1 1 0 0 1 35970 0 1 459 1 1 1 0 0 0 0 0 1 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X PAULA BASIHAN 9043717921 637 NORTH LEE STREET JACKSONVILLE FL 32204 MALINDA PRUDENCIO CHAIRMAN 1.00 X X 0 0 0 WILLIAM PERMENTER VICE CHAIR 1.00 X X 0 0 0 TED WILLICH SECRETARY 1.00 X X 0 0 0 BETTIE ADAMS TREASURER 1.00 X X 0 0 0 CHANTELLE SCHART DIRECTOR 1.00 X 0 0 0 BRUCE DOUECK DIRECTOR 1.00 X 0 0 0 JIM FARAH DIRECTOR 1.00 X 0 0 0 BRENDA SIMMONS-HUTCHINS DIRECTOR 1.00 X 0 0 0 ELVIA WILLIAMS DIRECTOR 1.00 X 0 0 0 JOHN HIRABAYASHI CEO/PRESIDENT 40.00 X 6746774 0 15407 SAM INMAN CFO 40.00 X 361078 0 25878 SUSAN VERBECK CHIEF LENDING OFFICER 40.00 X 360429 0 7062 TIM SIMPSON CHIEF INFORMATION OFFICER 40.00 X 245376 0 37688 ROGER RASSMAN VICE PRESIDENT 40.00 X 251717 0 14760 JIMMY LOVELACE VICE PRESIDENT 40.00 X 251176 0 14288 TRACY MANN VICE PRESIDENT 40.00 X 175290 0 25777 MARK FITZMORRIS FINANCIAL ADVISOR 40.00 X 475737 0 47666 MIKE FRANZ CONTROLLER 40.00 X 169254 0 10285 MICHAEL HOLMES INTERNAL AUDIT DIRECTOR 40.00 X 150352 0 21818 JOHN KEELEY JR COMMERCIAL LENDING OFFICER 40.00 X 143331 0 20409 GEORGE DANFORTH VP COMMERCIAL LENDING 40.00 X 120854 0 18432 9451368 0 259470 28 0 1 0 PSCU 560 CARILLION PARKWAY ST PETERSBURG FL 33716 CREDIT CARD PROCESSOR 3043161 Q2 SOFTWARE PO BOX 5205970 DALLAS TX 753205970 ONLINE BANKING 2029169 VISA USA PO BOX 742233 LOS ANGELES CA 900742233 CREDIT CARD PROVIDER 1254234 FISERV PO BOX 5037-263 PORTLAND OR 97208 ATM & DEBIT CARD PROCESSOR 1224151 WAHL MEDIA 580 PACKETTS LANDING FAIRPORT NY 14450 MARKETING AGENCY 1110040 72 LOAN INTEREST 522100 60143908 60143908 OTHER OPERATING INCOME 900001 18664893 18664893 FEES AND CHARGES 522100 11554043 11387726 166317 90362844 4357692 4357692 620401 627458 -7057 -7057 -7057 K-1 - MEMBERS DEVEOPMENT COMPANY, 522100 3108 3108 3108 94716587 90196527 169425 4350635 X 30000 5959932 8532700 15007346 502720 2713593 1833332 252506 109222 10647392 4084785 3951636 153623 2391413 61742 498890 2960706 372638 LOAN SERVICING EXPENSE 4963801 MISCELLANEOUS EXPENSE 565199 FORGERY, FRAUD & PLASTI 401351 OPERATING FEES 265915 -1131 66259311 12218733 14602796 169840926 241706925 4418000 3633501 1373947173 1479390939 4630296 5656169 73389066 26062857 46348860 47326209 378128178 570229179 81986583 68088627 2071518749 2430634345 30720541 30216234 1329000 953000 1781468147 2118448836 1813517688 2149618070 X 0 0 0 0 258001061 281016275 258001061 281016275 2071518749 2430634345 X 28457276 -5438955 -3107 X X 0 1 X 1 0 421 FLORIDA CREDIT UNION POLITICAL ACTION COMMITTEE PO BOX 3108 TALLAHASSEE FL 32315 591889104 421 PART I-A, LINE 1: ALL POLITICAL CONTRIBUTIONS WERE MADE TO THE FLORIDA CREDIT UNION POLITICAL ACTION COMMITTEE (CUPAC) AND TOTALED $421. ALL OF THE FUNDS CONTRIBUTED WERE RECEIVED FROM MEMBERS, VOLUNTEERS, AND EMPLOYEES. 0 1 X 16882328 16882328 34415371 11091488 23323883 1957373 966772 990601 17887941 14004597 3883344 2246053 2246053 47326209 SECURITIES - AFS 567480630 F OTHER INVESTMENTS 2748549 C 570229179 MEMBERS SHARE AND SAVINGS ACCOUNTS 2118448836 2118448836 X PART IV, LINE 2B: FANNIE MAE CUSTODIAL ACCOUNTS - THE CREDIT UNION HAS MAINTAINED SERVICING FOR LOANS SOLD IN THE SECONDARY MARKET. THE CREDIT UNION COLLECTS PRINCIPAL, INTEREST AND ESCROW PAYMENTS FOR SOLD MORTGAGE LOANS. PAYMENTS ARE PASSED THROUGH TO FANNIE MAE AT CERTAIN INTERVALS. PART X, LINE 2: THE CREDIT UNION IS EXEMPT, UNDER IRC 501 (C) (14), FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION HAS FILED TAX RETURNS FOR ACTIVITIES IT HAS DEEMED TAXABLE AND HAS A NET OPERATING LOSS CARRYFORWARD. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2021 AND 2020. THE CREDIT UNION'S 2018 THROUGH 2020 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. 1 COMMUNITY FIRST CARES FOUNDATION 637 NORTH LEE STREET JACKSONVILLE FL 32204 461535651 501(C)(3) 30000 0 TO PROVIDE FINANCIAL SUPPORT TO THE FOUNDATION TO FULFILL ITS EXEMPT PURPOSE TO PROMOTE AND PROVIDE CHARITABLE GIVING AND COMMUNITY INVESTMENT IN THE AREAS SERVED BY THE CREDIT UNION. PART I, LINE 2: THE CEO AND CFO OF THE CREDIT UNION ARE ALSO ON THE BOARD OF THE FOUNDATION AND MONITOR THE USE OF GRANT FUNDS. X 1 1 X X X X X 0 1 0 JOHN HIRABAYASHI CEO/PRESIDENT 6584882 0 154250 0 7642 0 1292 0 14115 0 6762181 0 0 0 MARK FITZMORRIS FINANCIAL ADVISOR 475624 0 0 0 113 0 11200 0 36466 0 523403 0 0 0 SAM INMAN CFO 312890 0 47920 0 268 0 11200 0 14678 0 386956 0 0 0 SUSAN VERBECK CHIEF LENDING OFFICER 322409 0 36404 0 1616 0 648 0 6414 0 367491 0 0 0 TIM SIMPSON CHIEF INFORMATION OFFICER 224038 0 21060 0 278 0 7642 0 30046 0 283064 0 0 0 ROGER RASSMAN VICE PRESIDENT 217583 0 33707 0 427 0 8852 0 5908 0 266477 0 0 0 JIMMY LOVELACE VICE PRESIDENT 217217 0 33896 0 63 0 8101 0 6187 0 265464 0 0 0 TRACY MANN VICE PRESIDENT 153101 0 22035 0 154 0 6504 0 19273 0 201067 0 0 0 MIKE FRANZ CONTROLLER 156124 0 12719 0 411 0 5894 0 4391 0 179539 0 0 0 MICHAEL HOLMES INTERNAL AUDIT DIRECTOR 140222 0 9987 0 143 0 1496 0 20322 0 172170 0 0 0 JOHN KEELEY JR COMMERCIAL LENDING OFFICER 86025 0 57168 0 138 0 0 0 20409 0 163740 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANION - BILL PERMENTER - $167 TRAVEL FOR COMPANION - BRUCE DOUECK - $1,210 TRAVEL FOR COMPANION - BRENDA SIMMONS-HUTCHINS - $109 TRAVEL FOR COMPANION - ELVIA WILLIAMS - $2,468 TRAVEL FOR COMPANION - JOHN JOLLY - $36 TRAVEL FOR COMPANION - CHANTELLE SCHART - $2,136 PART I, LINE 4B PART I, LINE 4B: JOHN HIRABAYASHI - PARTICIPATED - $5,861,679 DISTRIBUTION PART I, LINE 4B: SAM INMAN - PARTICIPATED - NO DISTRIBUTIONS PART I, LINE 4B: JIMMY LOVELACE - PARTICIPATED - NO DISTRIBUTIONS PART I, LINE 4B: ROGER RASSMAN - PARTICIPATED -NO DISTRIBUTIONS JIMMY LOVELACE SR VP MEMBER EXPERIENCE SPLIT DOLLAR LOAN X 4008000 3633501 0 1 1 3633501 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS MEMBERS. MEMBERSHIP IN THE CREDIT UNION IS COMPOSED OF THOSE WHO LIVE, WORK, OR HAVE AN ASSOCIATION WITH THE EDUCATIONAL COMMUNITY IN BAKER, BREVARD, BROWARD, CLAY, DUVAL, FLAGLER, INDIAN RIVER, LAKE, MARTIN, NASSAU, ORANGE, PALM BEACH, PUTNAM, SEMINOLE, ST JOHNS, ST LUCIE AND VOLUSIA COUNTIES IN FLORIDA, AND OTHER SELECT EMPLOYEE GROUPS WHO HAVE PETITIONED FOR MEMBERSHIP. IN ADDITION TO A REGULARLY QUALIFIED MEMBER, THE SPOUSE OF A MEMBER, THE BLOOD OR ADOPTIVE RELATIVES OF EITHER OF THEM AND THEIR SPOUSES MAY BE 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 THE FOLLOWING GOVERNANCE DECISIONS REQUIRE MEMBER APPROVAL: VOLUNTARY LIQUIDATION - MAJORITY VOTE OF MEMBERS VOTING FOLLOWING BOARD MAJORITY APPROVAL AND FEDERAL AND STATE REGULATORS' APPROVAL; MERGER WITH ANOTHER CREDIT UNION - MAJORITY VOTE OF MEMBERS VOTING FOLLOWING BOARD MAJORITY APPROVAL AND FEDERAL AND STATE REGULATORS' APPROVAL; CONVERSION FROM STATE CREDIT UNION CHARTER TO FEDERAL CREDIT UNION CHARTER - MAJORITY VOTE OF MEMBERS VOTING FOLLOWING BOARD MAJORITY APPROVAL AND FEDERAL AND STATE REGULATORS' APPROVAL; CONVERSION TO ANOTHER FINANCIAL INSTITUTION TYPE CHARTER - MAJORITY VOTE OF ALL MEMBERS ELIGIBLE TO VOTE FOLLOWING BOARD MAJORITY APPROVAL AND FEDERAL AND STATE REGULATORS' APPROVAL; MERGER WITH A BANK - MAJORITY VOTE OF MEMBERS VOTING (WITH 20% MINIMUM ELIGIBLE MEMBER VOTING REQUIREMENT) FOLLOWING BOARD MAJORITY APPROVAL AND FEDERAL AND STATE REGULATORS' APPROVAL; ELECTION OF BOARD - MAJORITY VOTE OF MEMBERS VOTING. FOR ALL OF THE ABOVE DECISIONS, THERE IS A SINGLE CLASS OF MEMBERS WITH EACH MEMBER ENTITLED TO A SINGLE VOTE REGARDLESS OF THE NUMBER OF SHARES IN THE CREDIT UNION. FORM 990, PART VI, SECTION B, LINE 11B THE VICE PRESIDENT OF ACCOUNTING AND FINANCE IS RESPONSIBLE FOR THE PREPARATION OF THE RETURN. UPON COMPLETION, THE RETURN IS REVIEWED BY THE CEO AND CFO. ONCE ALL PARTIES HAVE COMPLETED THEIR REVIEW AND ANY NECESSARY CORRECTIONS HAVE BEEN MADE, THE RETURN IS FILED AND A COPY OF THE RETURN WILL BE MADE AVAILABLE UPON REQUEST. THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS SHALL REVIEW THE FORM 990 PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS, MANAGEMENT AND STAFF ARE COVERED BY THE CONFLICTS OF INTEREST POLICY. IT IS REVIEWED ANNUALLY. ACTUAL OR POTENTIAL CONFLICTS OF INTEREST WOULD BE INVESTIGATED BY INTERNAL AUDIT OR LOSS PREVENTION DEPARTMENTS. APPROPRIATE ACTIONS UP TO AND INCLUDING LIMITING TRANSACTION CAPABILITIES OR PROHIBITING PERSONS WITH A CONFLICT TO PARTICIPATE IN GOVERNING ACTIVITIES SUCH AS DELIBERATIONS OR VOTES WHERE CONFLICTS EXIST WOULD BE IMPOSED. FORM 990, PART VI, SECTION B, LINE 15 THE REVIEW OF THE CEO'S COMPENSATION IS A FUNCTION OF THE BOARD OF DIRECTORS. ANNUALLY, THE BOARD USES AN EXECUTIVE COMPENSATION SURVEY FROM AN INDEPENDENT THIRD PARTY TO DETERMINE THE CEO'S COMPENSATION. FOR ALL OTHER POSITIONS IN THE ORGANIZATION, PAY RANGES ARE REVIEWED ON AN ANNUAL BASIS UTILIZING DATA FROM AN INDEPENDENT COMPENSATION CONSULTANT. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, THE CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS WILL BE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. THE CREDIT UNION'S QUARTERLY FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC VIEWING ON THE NCUA.GOV WEBSITE VIA THE 5300 FILING. ADDITIONALLY, THE CREDIT UNION'S ANNUAL REPORT IS AVAILABLE FOR PUBLIC VIEWING VIA THE CREDIT UNION'S WEBSITE. FORM 990, PART IX, LINE 11G ATM RELATED EXPENSES 2,289,872. VISA CHECK CARDS AND GIFT CARDS 2,499,209. REWARDS PROGRAM 1,170,279. STATEMENT/NOTICE PROCESSING 644,438. BILL PAYMENT PROCESSING 280,604. MISC PROFESSIONAL SERVICES 2,926,778. OFFICE STORAGE 824. ARMORED CAR 69,522. DOCUMENT SHRED SERVICE 14,799. COURIER SERVICE 139,473. SECURITY 260,431. ASSET LIABILITY MANAGEMENT 132,672. INVESTMENT SERVICES 2,827. RECRUITING & PERSONNEL 215,664. FORM 990, PART XI, LINE 9: K-1 GAIN - MEMBERS DEVELOPMENT COMPANY, LLC -3,108. ROUNDING 1. FORM 990, PART XII, LINE 2C THE PROCESS USED BY THE COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED SINCE LAST YEAR. COMMUNITY FIRST CARES FOUNDATION 637 NORTH LEE STREET JACKSONVILLE FL 32204 461535651 TO IMPROVE THE QUALITY OF LIFE IN NORTHEAST FLORIDA FL 501(C)(3) LINE 7 COMMUNITY FIRST CREDIT UNION OF FLORIDA 1 EDCO FINANCIAL SERVICES INC 637 NORTH LEE STREET JACKSONVILLE FL 32204 593282020 FINANCIAL SERVICES - INACTIVE FL COMMUNITY FIRST CREDIT UNION OF FLORIDA C 1.00000 1 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 NO TRANSACTIONS OVER 50000