2021-09-10T13:00:01-05:00 2020-12-31 420714325 RSM US LLP 801 NICOLLET MALL WEST TOWER STE 1200 MINNEAPOLIS MN 554022526 990 2020-01-01 590860768 COMMUNITY CREDIT UNION OF FLORIDA COMM 3216373120 1030 US HIGHWAY 1 ROCKLEDGE FL 32955 MARGARET HASENBECK SVP OF ACCOUNTING AND FINANCE 3216373120 2021-09-08 1 MARGARET HASENBECK 999009999 KACIE MCEWEN P01599614 6123324300 2021-09-08 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z LAURIE CAPPELLI 1030 US HIGHWAY 1 ROCKLEDGE FL 32955 42208922 0 X WWW.CCUFLORIDA.ORG X 1953 FL IMPROVE MEMBERS' FINANCIAL WELL-BEING AND MAKE A POSITIVE DIFFERENCE IN OUR COMMUNITY. 5 5 139 6 17154 0 198833 551500 40053613 40060447 2536038 1387261 0 0 42788484 41999208 0 0 7838258 6229011 9338952 10794565 0 0 0 13806320 19524782 30983530 36548358 11804954 5450850 809920874 920888310 713379612 819104599 96541262 101783711 X COMMUNITY CREDIT UNION OF FLORIDA IS A MEMBER-OWNED, NOT-FOR-PROFIT, FINANCIAL CO-OPERATIVE FORMED IN 1953 BY LOCAL EDUCATORS. CCU OF FLORIDA HAS GROWN TO MORE THAN 49,200 MEMBERS. CCU'S MISSION IS TO "ALWAYS IMPROVE THE FINANCIAL WELL-BEING OF OUR MEMBERS AND MAKE A POSITIVE DIFFERENCE IN OUR COMMUNITY." 0 0 COMMUNITY CREDIT UNION OF FLORIDA PROVIDED FINANCIAL SERVICES TO 49,300 MEMBERS AS OF 12/31/2020 AND SERVICED APPROXIMATELY 20,065 LOANS. CCU OFFERS FINANCIAL SERVICES TO 49,200 MEMBERS IN THE FORM OF DEPOSIT ACCOUNTS, DEBIT CARDS, MONEY ORDERS, SAFE DEPOSIT BOXES, WIRE TRANSFERS AND MANY OTHER SERVICES THAT ARE PROVIDED TO MEMBERS. INVESTMENTS ARE USED AS A MEANS OF EXTRA EARNINGS ON DEPOSITED FUNDS THAT HAVE NOT BEEN UTILIZED FOR ANY LENDING PROGRAMS. 0 1 1 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 16885 0 1 139 1 1 1 0 0 0 0 0 0 0 X 5 5 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X LAURIE CAPPELLI 3216373120 1030 US HIGHWAY 1 ROCKLEDGE FL 32955 BETTY DUNN CHAIR 1.00 X X 0 0 0 JAMES PLATMAN VICE CHAIR 1.00 X X 0 0 0 LINDA DALE SECRETARY/TREASURER 1.00 X X 0 0 0 JOHNETTE GINDLING DIRECTOR 1.00 X 0 0 0 MOSES HARVIN DIRECTOR 1.00 X 0 0 0 LAURIE CAPPELLI CEO 50.00 X 380082 0 27666 LESLI DOOLEY COO/SVP 50.00 X 201124 0 9224 DAVID HILL SVP TECHNOLOGY 50.00 X 157162 0 24722 MARGARET HASENBECK SVP ACCOUNTING 50.00 X 159638 0 10965 MEREDITH GIBSON SVP MARKETING 50.00 X 155581 0 12455 DANIEL KELLEY CHIEF EXPERIENCE OFFICER/SVP 50.00 X 178092 0 9489 BARBARA GUNTER HR & ORGANIZATION DEVELOPM 50.00 X 129978 0 12046 AMANDA BANKS FRAUD ANALYST 50.00 X 122749 0 18528 KIMBERLY SEEFELD REGIONAL BRANCH DIRECTOR 50.00 X 119970 0 4850 MARY TRIMBOLI AVP, MORTGAGES 50.00 X 132009 0 6056 LESLIE TIBBETTS VP OF COMMERCIAL SERVICES 50.00 X 142876 0 5772 1879261 0 141773 13 0 1 0 FIS PO BOX 30495 TAMPA FL 33630 CARD PROCESSING 796930 JACK HENRY & ASSOCIATES PO BOX 609 MONETT MO 65708 COMPUTER SYSTEM 718248 AT&T PO BOX 105503 ATLANTA GA 30348 PHONE SERVICES 614477 NCR CORPORATION 14181 COLLECTION CENTER DRIVE CHICAGO IL 60693 ONLINE BANKING 590837 LSI 2200 POINT BOULEVARD ELGIN IL 60123 AFTER-HOURS SERVICES 258550 14 551500 551500 MEMBER LOAN INTEREST 522100 32360883 32360883 SERVICE CHARGES AND FEES 522100 3884173 3867019 17154 INTERCHANGE INCOME 522100 2826697 2826697 OTHER NONOPERATING INCOME 522100 988694 988694 40060447 1596975 1596975 209714 -209714 -209714 -209714 41999208 40043293 17154 1387261 6229011 1332248 6402096 1209149 1372640 478432 115978 110715 3993 612963 1214320 2570380 1834643 1231411 67951 10215 484482 1041775 208856 PROVISION EXPENSE 7740000 LOAN SERVICING 1626729 LEAGUE DUES 89150 561221 36548358 3708468 4718427 106493027 104679139 1876140 1876140 627168020 648357658 15551306 29296361 26031534 8507492 16231324 17524042 30733735 104308434 8158854 10128109 809920874 920888310 6322325 8658244 707057287 810446355 713379612 819104599 X 0 0 0 0 96541262 101783711 96541262 101783711 809920874 920888310 X 5450850 -208401 X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3993 3993 3993 1 FLCU PAC 2831 NW 43RD STREET GAINESVILLE FL 32606 3993 0 PART I-A, LINE 1: THE CREDIT UNION CONTRIBUTED TO THE FLORIDA CREDIT UNION POLITICAL ACTION COMMITTEE TO SUPPORT CREDIT UNION ISSUES. 5077516 5077516 13242967 4259158 8983809 196626 194999 1627 7514425 4053335 3461090 17524042 AGENCY NOTES AND BONDS 61442534 C MORTGAGE BACKED SECURITIES 29952077 C OTHER INVESTMENTS 12913823 C 104308434 MEMBERS' SHARES 792696355 FEDERAL HOME LOAN BANK ADVANCES 17750000 810446355 X 41999208 0 41999208 0 41999208 36548358 0 36548358 0 36548358 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES. THE INTERNAL REVENUE SERVICE (IRS) AND CERTAIN STATE TAXING AUTHORITIES ARE CURRENTLY REVISITING WHAT, IF ANY, PRODUCTS AND SERVICES PROVIDED BY STATE-CHARTERED CREDIT UNIONS OR THEIR CREDIT UNION SERVICE ORGANIZATIONS ARE SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). THERE IS CURRENTLY VERY LITTLE GUIDANCE IN THE INTERNAL REVENUE CODE ON WHAT ACTIVITIES SHOULD BE SUBJECT TO UBIT. THE IRS HAS RECENTLY ISSUED CERTAIN TECHNICAL ADVICE MEMORANDUMS IDENTIFYING CERTAIN ACTIVITIES AS BEING SUBJECT TO UBIT. AS A RESULT, AT THIS TIME THERE IS UNCERTAINTY REGARDING WHETHER STATE-CHARTERED CREDIT UNIONS SHOULD PAY INCOME TAX ON CERTAIN TYPES OF NET TAXABLE INCOME FROM ACTIVITIES THAT MAY BE CONSIDERED BY TAXING AUTHORITIES AS UNRELATED TO THE PURPOSE FOR WHICH CREDIT UNIONS WERE GRANTED NONTAXABLE STATUS. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES DEEMED UNRELATED TO THE CREDIT UNION'S NONTAXABLE STATUS IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON FINANCIAL POSITION OR RESULTS OF OPERATIONS. A TAX POSITION, INCLUDING THE POSITION THAT THE CREDIT UNION IS NOT SUBJECT TO INCOME TAXES, IS RECOGNIZED AS A BENEFIT ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WOULD BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. CURRENTLY, THE 2019, 2018 AND 2017 FEDERAL INCOME TAX RETURNS ARE OPEN FOR EXAMINATION BY THE IRS. THE FILING YEARS OPEN FOR EXAMINATION BY THE STATE, IF APPLICABLE, MAY BE EQUAL TO, GREATER THAN OR LESS THAN THE YEARS OPEN FOR EXAMINATION BY THE IRS. X 1 1 X X X 0 1 0 LAURIE CAPPELLI CEO 295837 0 60875 0 23370 0 10354 0 18670 0 409106 0 0 0 LESLI DOOLEY COO/SVP 182856 0 16400 0 1868 0 6400 0 5486 0 213010 0 0 0 DANIEL KELLEY CHIEF EXPERIENCE OFFICER/SVP 164423 0 10275 0 3394 0 5755 0 4256 0 188103 0 0 0 DAVID HILL SVP TECHNOLOGY 148212 0 9807 0 -857 0 14821 0 10399 0 182382 0 0 0 MARGARET HASENBECK SVP ACCOUNTING 150208 0 9951 0 -521 0 3004 0 8466 0 171108 0 0 0 MEREDITH GIBSON SVP MARKETING 144634 0 9460 0 1487 0 4638 0 8321 0 168540 0 0 0 PART I, LINE 1A THE VOLUNTEERS OF OUR CREDIT UNION CAN CHOOSE TO TRAVEL WITH A COMPANION AND HAVE ALL QUALIFYING EXPENSES PAID. IF THE EXPENSES ARE OVER THE IRS LIMIT A 1099-NEC FORM IS FILED. PART I, LINE 4B LAURIE CAPPELLI PARTICIPATED IN A SERP PLAN. THERE WERE NO DISTRIBUTIONS IN 2020. DAVID BROCK FORMER CEO SERP PLAN LOAN X 750546 1876140 0 1 1 1876140 FORM 990, PART VI, SECTION A, LINE 6 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 THE MEMBERSHIP PARTICIPATES IN THE ELECTION OF THE BOARD OF DIRECTORS AT THE ANNUAL MEETING HELD DURING THE FIRST QUARTER OF EACH YEAR. FORM 990, PART VI, SECTION B, LINE 11B THE 990 FORM AND SCHEDULES ARE PRESENTED TO THE BOARD FOR REVIEW AND APPROVAL PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD SIGNS A CONFLICT OF INTEREST STATEMENT ANNUALLY. ALL LOANS TO BOARD MEMBERS ARE REVIEWED BY THE BOARD YEARLY. THE EMPLOYEES ARE ASKED TO SIGN AN ACKNOWLEDGEMENT WHEN THEY RECEIVE THE POLICY. EMPLOYEES REPORT A CONFLICT OF INTEREST TO ANY MANAGER OR HUMAN RESOURCES. IF A MANAGER BECOMES AWARE OF A CONFLICT OF INTEREST HUMAN RESOURCES WILL INVESTIGATE. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION OF THE CHIEF EXECUTIVE OFFICER IS DETERMINED BY THE BOARD OF DIRECTORS ANNUALLY. THE BOARD HAS ENGAGED A THIRD PARTY TO DEVELOP A COMPENSATION PLAN AND PERFORMANCE APPRAISAL FOR THE CEO. THE BOARD ASSESSES THE CEO'S PERFORMANCE, AND BASED ON THE OVERALL PERFORMANCE RATING, THE SALARY INCREASE IS AWARDED BASED ON A PREDETERMINED PERCENTAGE. THE BOARD CHAIR DELIVERS THE PERFORMANCE REVIEW TO THE CEO AND APPROVES THE SALARY INCREASE. CCU UTILIZES THE SAME THIRD PARTY TO DETERMINE SALARY RANGES FOR ALL POSITIONS. THE THIRD PARTY COMPILES DATA FROM NUMEROUS SOURCES TO BENCHMARK THE SALARY RANGES FOR EACH POSITION AT CCU, INCLUDING KEY EMPLOYEES. SEVEN COMPENSABLE FACTORS ARE USED TO DETERMINE THE SALARY GRADE, WHICH DETERMINES THE SALARY RANGE. THE CEO HAS THE AUTHORITY TO DETERMINE THE SALARY OF KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES AND FINANCIAL STATEMENT ARE NOT REQUIRED DISCLOSURES PURSUANT TO INTERNAL REVENUE CODE (IRC) SECTION 6104. THE ORGANIZATION POSTS THE MONTHLY FINANCIAL STATEMENTS IN THE LOBBY OF EACH BRANCH. FORM 990, PART XI, LINE 9: CHANGES IN PENSION PLAN FUNDING -208,401.