2021-11-15T13:18:28-06:00 2020-12-31 382492570 DOEREN MAYHEW 305 WEST BIG BEAVER ROAD TROY MI 48084 990 2020-01-01 111644012 FAIRWINDS CREDIT UNION-FL STATE CHARTER FAIR 4072776030 135 W CENTRAL BLVD NO 1220 ORLANDO FL 32801 PHILLIP TISCHER COO 4072776030 2021-11-15 1 PHILLIP TISCHER 999009999 ROBERT PARKS CPA P00740435 2482443000 2021-11-15 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z LARRY F TOBIN 135 W CENTRAL BLVD ORLANDO FL 32801 151112258 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 AMOUNG 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 7 647 10 3808723 0 0 0 132640536 137045578 10747202 10257957 3276544 3808723 146664282 151112258 153581 214265 0 0 52631257 57113124 0 0 0 60059775 77767938 112844613 135095327 33819669 16016931 2670383320 3454197091 2370969848 3132688538 299413472 321508553 IMPROVE MEMBER'S FINANCIAL WELL-BEING. 0 0 FAIRWINDS CREDIT UNION PROVIDED AN ARRAY OF DEPOSIT AND LOAN SERVICES TO OUR 201,437 MEMBERS DURING 2020. FAIRWINDS SAVED OUR MEMBERS APPROXIMATELY $4.7 MILLION ON THEIR USED CAR LOANS IN 2020 BY OFFERING USED CAR LOAN RATES THAT WERE AT LEAST 1.62% LOWER THAN THAT WHICH OTHER FLORIDA BANKS OFFERED. FAIRWINDS SAVED OUR MEMBERS APPROXIMATELY $3.5 MILLION ON NEW CAR LOANS IN 2020 BY OFFERING NEW CAR LOAN RATES AT LEAST 1.66% LOWER THAN THAT WHICH OTHER FLORIDA BANKS OFFERED. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 1 0 0 0 0 1 1 1 1 0 1 93899 0 1 647 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 SECRETARY 0.50 X 0 0 0 DANIEL MCNUTT JR BOARD MEMBER 0.50 X 0 0 0 JASON ALBU CHAIRMAN 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 VICE CHAIRMAN 0.50 X 0 0 0 ELIZABETH KRAHMER TREASURER 0.50 X 0 0 0 LARRY TOBIN CEO/PRESIDENT 60.00 X 1425869 0 1815315 KATHY CHONODY CFO 60.00 X 997679 0 808534 PHILLIP TISCHER COO 60.00 X 994671 0 271114 MATHY HOGAN EXEC VP - ESERVICES 60.00 X 404586 0 72827 DIANNE OWEN EXEC VP - MARKETING 60.00 X 387113 0 98509 CHARLES LAI CIO 60.00 X 423177 0 116947 JAMES ADAMCZYK EXEC VP - LENDING 60.00 X 529072 0 341765 CATHY HERTZ EXEC VP - HUMAN RESOURCES 60.00 X 375176 0 58159 THOMAS HOWELL VP-FINANCIAL ADVISOR 60.00 X 553253 0 36659 JAMES THORNBERRY SVP - MEMBER EXPERIENCE 60.00 X 297888 0 33887 DANIEL T BOCK III SVP - FINANCE 60.00 X 451118 0 22156 JORGE M FONT SVP - BUSINESS SERVICES 60.00 X 296714 0 170979 BRYAN MEIZINGER SVP -RETAIL LENDING 60.00 X 291379 0 33199 7427695 0 3880050 73 0 1 0 COMPUTERSHARE INC DEPT CH 16934 PALATINE IL 60055 MERGER 19056401 PSCU FINANCIAL SERVICES INC 560 CARILLON PARKWAY ST PETERSBURG FL 33716 DEBIT & CREDIT CARD PROCESSOR 8876716 NCR CORPORATION PO BOX 740641 LOS ANGELES CA 90074 CONSUMER ONLINE BANKING, ATM MAINTENANCE 2165293 VISA USA INC 1655 GRANT STREET CONCORD CA 94520 CREDIT CARD SETTLEMENT 1669414 EVOK ADVERTISING & DESIGN INC 1485 INTERNATIONAL PKWY SUITE 3001 HEATHROW FL 32746 SOCIAL AND DIGITAL MEDIA PLANNING 1385232 79 INTEREST INCOME ON LOANS 522100 78024114 78024114 FEES, CHARGES, & OTHER 522100 59021464 59021464 137045578 10257957 10257957 FINANCE & INSURANCE 520000 3808723 3808723 3808723 151112258 137045578 3808723 10257957 X 214265 9120513 34868694 2043999 8348951 2730967 927696 163445 183912 536515 1199975 3778757 2842242 9628287 3264493 403230 2819 13600368 294431 4431415 546221 PROVISION FOR LOAN LOSS 15828769 LOAN SERVICING EXPENSE 5137933 DEBIT EXPENSES 5001342 VISA CREDIT EXPENSES 4347478 5648610 135095327 10875371 9505243 149430012 403312769 1829498 1544173 1960641719 2037907574 1926199 2150067 142142430 43396124 101763026 98746306 348578240 777396712 3516569 2407900 91822686 121226347 2670383320 3454197091 25374931 28569188 3097406 5919286 2342497511 3098200064 2370969848 3132688538 X 0 0 0 0 299413472 321508553 299413472 321508553 2670383320 3454197091 16016931 6078150 0 X X 0 1 X 1 0 25034703 25034703 79199642 15896505 63303137 9840846 4968326 4872520 28067239 22531293 5535946 98746306 MEMBER SHARES 3098200064 3098200064 X PART X, LINE 2: THE CREDIT UNION AND ITS SUBSIDIARIES ARE EXEMPT FROM MOST FEDERAL, STATE AND LOCAL INCOME TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE TAX LAWS. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION AS 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. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (AS DEFINED IN SECTION 512) DERIVED BY STATE-CHARTERED CREDIT UNIONS. MANY STATES HAVE SIMILAR LAWS. THE SPECIFIC APPLICATION OF SECTION 512 TO THE VARIOUS ACTIVITIES CONDUCTED BY STATE-CHARTERED CREDIT UNIONS HAS BEEN AN ISSUE FOR MANY YEARS. IN 2007, THE INTERNAL REVENUE SERVICE (IRS) ISSUED A SERIES OF TECHNICAL ADVICE MEMORANDA(TAM) TO A NUMBER OF STATE-CHARTERED CREDIT UNIONS LOCATED THROUGHOUT THE COUNTRY. IN THESE TAMS, THE IRS RULED CERTAIN PRODUCTS AND SERVICES TO BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. IN LIGHT OF THE TAMS, THE CREDIT UNION HAS ASSESSED ITS ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY. 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 TAX PERIODS COVER THE THREE YEAR PERIOD ENDING SEPTEMBER 30, 2020. 1 FAIRWINDS FOUNDATION INC 135 W CENRAL BLVD SUITE 1230 ORLANDO FL 32801 320510999 501(C)(3) 214265 TO PROMOTE FINANCIAL LITERACY AND EDUCATION 1 X X X X 1 1 X X X 0 1 0 LARRY TOBIN CEO/PRESIDENT 838350 0 562500 0 25019 0 1774371 0 40944 0 3241184 0 0 0 KATHY CHONODY CFO 517057 0 288543 0 192079 0 801383 0 7151 0 1806213 0 0 0 PHILLIP TISCHER COO 462977 0 227649 0 304045 0 256531 0 14583 0 1265785 0 0 0 JAMES ADAMCZYK EXEC VP - LENDING 364269 0 129398 0 35405 0 322938 0 18827 0 870837 0 0 0 THOMAS HOWELL VP-FINANCIAL ADVISOR 542814 0 0 0 10439 0 17100 0 19559 0 589912 0 0 0 CHARLES LAI CIO 326976 0 91615 0 4586 0 109796 0 7151 0 540124 0 0 0 DIANNE OWEN EXEC VP - MARKETING 295713 0 84965 0 6435 0 79682 0 18827 0 485622 0 0 0 MATHY HOGAN EXEC VP - ESERVICES 305520 0 86505 0 12561 0 54000 0 18827 0 477413 0 0 0 DANIEL T BOCK III SVP - FINANCE 159782 0 47350 0 243986 0 13518 0 8638 0 473274 0 0 0 JORGE M FONT SVP - BUSINESS SERVICES 239452 0 51333 0 5929 0 158179 0 12800 0 467693 0 0 0 CATHY HERTZ EXEC VP - HUMAN RESOURCES 290418 0 81034 0 3724 0 51008 0 7151 0 433335 0 0 0 JAMES THORNBERRY SVP - MEMBER EXPERIENCE 220255 0 48488 0 29145 0 14328 0 19559 0 331775 0 0 0 BRYAN MEIZINGER SVP -RETAIL LENDING 229104 0 48602 0 13673 0 14746 0 18453 0 324578 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. THERE WERE NO SERP BENEFITS PAID OUT TO ANY PARTICIPANT DURING 2020. THE BALANCE REPORTED BELOW REPRESENTS THE SERP BENEFIT LIABILITY AS OF DECEMBER 31, 2020. LARRY TOBIN - CEO/PRESIDENT $8,187,538.55 KATHY CHONODY - CFO $3,440,025.22 PHILLIP TISCHER - COO $1,909,275.01 MATHY HOGAN - EXECUTIVE VICE PRESIDENT -ESERVICES $58,272.84 DIANNE OWEN - EXECUTIVE VICE PRESIDENT -MARKETING $189,524.37 CHARLES LAI - CIO $240,165.81 JAMES ADAMCZYK- EXECUTIVE VICE PRESIDENT -LENDING $480,215.42 CATHY HERTZ - EXECUTIVE VICE PRESIDENT -HUMAN RESOURCES $142,942.43 JORGE M. FONT - SENIOR VICE PRESIDENT - BUSINESS SERVICES $147,190.07 JAMES THORNBERRY - SVP MEMBER EXPERIENCE - $27,705.60 BRYAN MEIZINGER - SVP RETAIL LENDING - $76,515.48 JASON ALBU JASON ALBU IS A CHAIR OF FAIRWINDS CREDIT UNION AND OWNER OF ALBU & ASSOC. 1112897 JASON ALBU IS A CU DIRECTOR AND OWNER OF ALBU & ASSOCIATES THE CONSTRUCTION COMPANY BUILDING OUR PARKING GARAGE. 0 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 INTERES POLICY IS NOT MADE AVAILABLE FOR PUBLIC VIEWING. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL SERVICES 1,199,975. FORM 990, PART IX, LINE 24E MAINTENANCE 2,482,161. ATM EXPENSES 1,840,414. MISCELLANEOUS EXPENSES 1,132,427. TRAINING/DEVELOPMENT/EDUCATION 193,608. 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 -139 58316 FAIRWINDS CREDIT UNION FAIRWINDS INSURANCE SERVICES LLC 135 W CENTRAL BLVD ORLANDO FL 32801 452718103 PROVIDING INSURANCE SERVICES FL 46976 387152 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 214265 ACTUAL