2020-11-13T14:54:45-06:00 2019-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2019-01-01 590687423 FIRST COMMERCE CREDIT UNION FIRS 8005335772 2073 SUMMIT LAKE DRIVE NO 100 TALLAHASSEE FL 32317 DENNIS G ADAMS EVP/CFO 8005335772 2020-11-13 1 DOUGLAS J ORTH P01076394 3052328272 104.11.88.150 2020-11-13 12:27:50 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 B2EFC313AB4EEA4760135470907D022D8B217834 2019 2022-01-07 14:23:13Z CECILIA HOMISON 2073 SUMMIT LAKE DRIVE SUITE 100 TALLAHASSEE FL 32317 40423117 0 2106 X WWW.FIRSTCOMMERCECU.ORG X 1940 FL TO PROVIDE SERVICES AND EDUCATION TO MEMBERS IN THE FRAMEWORK OF A FINANCIAL COOPERATIVE. 7 7 212 12 180585 0 0 0 31995726 34176769 1923780 2523374 2570263 2913466 36489769 39613609 38000 75000 0 0 11247756 11593433 0 0 0 21371298 23686594 32657054 35355027 3832715 4258582 606327093 615519411 536676848 540670655 69650245 74848756 TO BE OUR MEMBERS' FINANCIAL PARTNERS FOR LIFE. 0 0 TALLAHASSEE'S #1 AUTO LENDING PROGRAM FOR OVER A DECADE. FIRST COMMERCE HAS EARNED THE TITLE OF TALLAHASSEE'S NUMBER ONE AUTO LENDER YEAR AFTER YEAR. THIS TITLE HAS BEEN CONSISTENTLY EARNED BECAUSE THE CREDIT UNION OFFERS A RANGE OF AUTO LOAN CHOICES FOR ALMOST EVERY BUDGET AND CREDIT LEVEL. FIRST COMMERCE'S FLEXIBLE TERMS AND COMPETITIVE RATES ALLOW MEMBERS TO PURCHASE THE VEHICLE THEY NEED AT A MONTHLY PAYMENT THEY CAN AFFORD. BUSINESS SERVICES PROGRAM - FIRST COMMERCE CREDIT UNION HAS BEEN AN INNOVATOR IN THE DELIVERY OF SERVICES TO ITS MEMBERS. FCCU HAS ADAPTED TO A CHANGING WORLD WHILE REMAINING FOCUSED ON THE MISSION TO BE "PEOPLE HELPING PEOPLE AND BUILDING A TRUSTED FINANCIAL INSTITUTION THAT NOW HAS TWELVE BRANCHES AND OVER 54,000 MEMBERS. TODAY, IN ADDITION TO PROVIDING SERVICES FOR THE VARIED FINANCIAL NEEDS OF INDIVIDUAL MEMBERS, FCCU OFFERS IBIZ, A BUSINESS SERVICES PROGRAM WITH A NEW AND EXCITING LINE OF SERVICES FOR BUSINESSES OF ALL SIZES. IBIZ INCLUDES FREE AND INTEREST-BEARING CHECKING OPTIONS, MERCHANT SERVICES, PAYROLL SERVICES, BUSINESS LENDING, AND BUSINESS CREDIT CARDS. FIRST COMMERCE OFFERS A WIDE ARRAY OF ELECTRONIC SERVICES TO MEMBERS. ALMOST 34,000 MEMBERS UTILIZE IBRANCH! ONLINE BANKING TO KEEP TRACK OF THEIR ACCOUNTS, MAKE TRANSFERS, AND PAY BILLS. FCCU'S BILL PAY OFFERS SAME DAY BILL PAY AND OVERNIGHT CHECK OPTIONS TO GIVE MEMBERS FLEXIBILITY IN HOW THEY MAKE THEIR PAYMENTS. PERSON-TO-PERSON PAYMENTS (P2P) AND ACCOUNT-TO-ACCOUNT (A2A) TRANSFERS, ALSO LOCATED WITHIN BILL PAY, GIVE MEMBERS CONVENIENT OPTIONS IN MOVING THEIR MONEY. ABOUT HALF OF OUR ACTIVE ONLINE BANKING USERS HAVE ENROLLED IN IBRANCHMOBILE!. FCCU ALSO PRESENTS MEMBERS AND NON-MEMBERS WITH OPTIONS TO OPEN AN ACCOUNT, APPLY FOR AUTO OR PERSONAL LOANS, AND APPLY FOR A MORTGAGE ONLINE. THE FIRST COMMERCE MOBILE DEPOSIT APPLICATION SERVES MORE THAN 8,700 MEMBERS WHO DEPOSIT OVER $23 MILLION EACH YEAR. 0 0 1 0 0 0 0 1 0 1 0 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 1 0 0 0 1 11166 0 1 212 1 1 1 0 0 0 0 0 0 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 WILMA WOOTEN CONTROLLER 8504103563 2073 SUMMIT LAKE DRIVE SUITE 100 TALLAHASSEE FL 32317 JERRY OSTERYOUNG BOD CHAIRMAN 1.00 X 0 0 0 MIKE GOMEZ BOD DIRECTOR 1.00 X 0 0 0 ALAN NEUBAUER BOD SECRETARY 1.00 X 0 0 0 CANITA PETERSON BOD DIRECTOR/VICE CHAIRMAN 1.00 X 0 0 0 KATHY ARRANT BOD TREASURER 1.00 X 0 0 0 JOHN GRAYSON BOD DIRECTOR 1.00 X 0 0 0 CASEY STOUTAMIRE BOD DIRECTOR 1.00 X 0 0 0 CECILIA HOMISON CEO 40.00 X 440144 0 49544 DENNIS G ADAMS EVP/CFO 40.00 X 262913 0 26302 MARY ESTES EXECUTIVE VICE PRESIDENT 40.00 X 345514 0 32986 DONALD PEAKS SVP/CXO 40.00 X 195962 0 28990 KIMBERLY HOWES VP OF MARKETING 40.00 X 170824 0 12968 DONNA CARSON UTECHT VP OF PEOPLE 40.00 X 179482 0 24224 WILMA WOOTEN CONTROLLER 40.00 X 138012 0 10371 CHRISTOPHER FOX DIRECTOR OF IT 40.00 X 119320 0 19538 WARREN SUMNER DIRECTOR OF LENDING 40.00 X 119578 0 9212 CHUCK HUDSON JACKSON COUNTY EXECU 40.00 X 109898 0 16404 ROBERT BARNETTE MORTGAGE LOAN ORIGINATIOR 40.00 X 119271 0 4868 2200918 0 235407 15 0 1 0 FISERV PO BOX 745148 ATLANTA GA 303745148 DATA PROCESSING/HOME BANKING 959606 Q2 SOFTWARE INC P O BOX 205970 DALLAS TX 75320 HOME BANKING 614572 JACK HENRY AND ASSOCIATES INC PO BOX 609 MONETT MO 65708 CORE PROCESSOR 578110 NCR CORPORATION 14181 COLLECTIONS CTR DR CHICAGO IL 60693 TECHNOLOGY SERVICES 548371 JEFF WEST HOMES SERVICES LLC PO BOX 15064 TALLAHASSEE FL 32317 CONTRACTOR-OREO 431324 27 LOANS TO MEMBERS 522100 23903978 23903978 FEES AND SERVICES 522100 10092206 10092206 NON MEMBER ATMS 900099 123079 123079 WARRANTY SALES INCOME 524298 57506 57506 34176769 2598387 2598387 837616 0 837616 837616 837616 734495 809508 -75013 -75013 -75013 MISCELLANEOUS 522100 1360388 1360388 MORTGAGE COMMISSION FEES 522220 715462 715462 2075850 39613609 39433024 180585 0 X 75000 1769853 7382297 405134 1404746 631403 525417 396786 188229 880099 964753 1476054 384390 976001 108962 69446 5359918 74176 1783609 213496 PROVISION FOR LOAN LOSS 3660724 DEBIT CARD FEES AND REB 2503249 MAINTENANCE/RENTAL/REPA 1502785 LOAN SERVICING 1220661 1397839 35355027 15395279 9654262 69932726 84541652 348398 441275 1866244 1834487 433674104 433550764 1161839 1536565 54449872 18882575 36648720 35567297 34111779 33832410 2009729 1935660 11178275 12625039 606327093 615519411 9690488 7653021 316371 312051 31519047 28583333 495150942 504122250 536676848 540670655 X 0 0 0 0 69650245 74848756 69650245 74848756 606327093 615519411 4258582 939929 0 X X 0 1 X 1 0 12750 12750 12750 1 CREDIT UNION POLITICAL ACTION COUNCIL (CUPAC) 3773 COMMONWEALTH BLVD TALLAHASSEE FL 32303 590246163 12000 LISA D BROWN FOR CITY COMMISSION 1400 VILLAGE SQUARE BLVD APT 3-27 TALLAHASSEE FL 323121250 825077882 250 ALLISON TANT FOR HOUSE DISTRICT 9 PO BOX 5651 TALLAHASSEE FL 32314 833116359 250 CAMPAIGN OF BRYAN DESLOGE 2630 CENTENNIAL PLACE TALLAHASSEE FL 32308 841959533 250 PART I-A, LINE 1: CONTRIBUTED CREDIT UNION FUNDS TO THE FLORIDA CREDIT UNION POLITICAL ACTION COMMITTEE. 0 1 X 8739688 8739688 33161496 8971085 24190411 931290 848273 83017 11617398 9063217 2554181 35567297 SHARE DRAFTS 120834925 SHARES 113293997 MONEY MARKET 85751666 IRA SHARES 12189690 CERTIFICATES 172051972 504122250 X 39613609 0 39613609 0 39613609 35355027 0 35355027 0 35355027 PART IV, LINE 2B: AS A LOAN SERVICER, THE CREDIT UNION RECEIVES PRINCIPAL PAYMENTS, INTEREST PAYMENTS, TAX PAYMENTS AND INSURANCE PAYMENTS AND THEN REMITS THESE FUNDS TO THE APPLICABLE THIRD PARTIES ON BEHALF OF THE BORROWERS. PART X, LINE 2: INCOME TAXES THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL AND STATE INCOME TAXES; HOWEVER, THE CREDIT UNION'S WHOLLY OWNED SUBSIDIARY IS SUBJECT TO FEDERAL AND STATE INCOME TAXES. THE INCOME TAXES TOPIC OF THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC) CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE INTERPRETATION PROVIDES CRITERIA FOR ASSESSMENT OF INDIVIDUAL TAX POSITIONS AND A PROCESS FOR RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. TAX POSITIONS ARE EVALUATED ON WHETHER THEY MEET THE "MORE LIKELY THAN NOT" STANDARD FOR SUSTAINABILITY UPON EXAMINATION BY TAX AUTHORITIES. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION AS DEFINED 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 DIRECTLY RELATED TO ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (UBI) DERIVED BY STATE-CHARTERED CREDIT UNIONS. BEGINNING IN MARCH 2008, THE INTERNAL REVENUE SERVICE (IRS) RELEASED TECHNICAL ADVICE MEMORANDUMS (TAMS) TO SPECIFIC STATE-CHARTERED CREDIT UNIONS SPECIFYING THE REVENUE SOURCES SUBJECT TO UNRELATED BUSINESS INCOME TAX. UBI MAY ALSO BE SUBJECT TO TAX IN CERTAIN STATES. MANAGEMENT HAS ASSESSED THE CREDIT UNION'S ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY AND DETERMINED THAT THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. ADDITIONALLY, NO INTEREST AND PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. CURRENTLY, THE 2018, 2017, AND 2016 FEDERAL INCOME TAX RETURNS ARE OPEN FOR EXAMINATION BY THE IRS. THE FILING YEARS OPEN FOR EXAMINATION BY THE STATE, IF APPLICABLE, MAY BE DIFFERENT THAN THE YEARS OPEN FOR EXAMINATION BY THE IRS. 1 FCCU FOUNDATION INC 2073 SUMMIT LAKE DRIVE TALLAHASSEE FL 32317 464676285 501(C)(3) 25000 TO FURTHER FINANCIAL EDUCATION OF THE COMMUNITY 1 PART I, LINE 2: FIRST COMMERCE CREDIT UNION WORKS CLOSELY WITH FCCU FOUNDATION, INC. IN CARRYING OUT THE FINANCIAL EDUCATIONAL WORKSHOPS. X X X 1 1 X X X 0 1 0 CECILIA HOMISON CEO 337158 0 64000 0 38986 0 23956 0 25588 0 489688 0 0 0 DENNIS G ADAMS EVP/CFO 205101 0 37838 0 19974 0 18208 0 8094 0 289215 0 0 0 MARY ESTES EXECUTIVE VICE PRESIDENT 208367 0 27244 0 109903 0 18321 0 14665 0 378500 0 0 0 DONALD PEAKS SVP/CXO 162156 0 32616 0 1190 0 12889 0 16101 0 224952 0 0 0 KIMBERLY HOWES VP OF MARKETING 148959 0 19740 0 2125 0 11894 0 1074 0 183792 0 0 0 DONNA CARSON UTECHT VP OF PEOPLE 144401 0 19263 0 15818 0 13042 0 11182 0 203706 0 0 0 PART I, LINE 4B CECILIA HOMISON PARTICIPATES IN A SECURED SPLIT DOLLAR PROGRAM WHEREBY FCCU LOANS THE OFFICER FUNDS FOR THE PURCHASE OF TWO LIFE INSURANCE POLICIES. THE FIRST POLICY IS KNOWN AS THE REPAYMENT POLICY AND IS SPECIFICALLY DESIGNED TO REPAY THE CREDIT UNION THE AMOUNT OF THE LOAN PLUS INTEREST UPON THE DEATH OF THE INSURED. THE SECOND POLICY IS THE ACCUMULATION POLICY AND IT IS DESIGNED TO PROVIDE FOR FUTURE POLICY LOANS AND DEATH BENEFIT PROTECTION FOR THE OFFICER. CECILIA D HOMISON CEO LIFE INSURANCE FUNDING X 1524027 1834487 0 1 1 1834487 SCH L, PART II THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." ALTHOUGH THE IRS REQUIRES REPORTING IN PART II AS A LOAN TO AN INTERESTED PARTY, THIS IS NOT AN ACTUAL LOAN. THERE IS NO TRANSFER OF FUNDS TO THE PARTICIPANT NOR AN OBLIGATION TO REPAY THE FUNDS. INSTEAD THE CREDIT UNION RECOVERS ANY OUTLAYS, PLUS INTEREST, FROM THE UNDERLYING POLICY. THAT IS, THE CREDIT UNION DEPOSITS FUNDS DIRECTLY INTO A LIFE INSURANCE POLICY TO ENSURE REPAYMENT. AT SPECIFIED TIMES, THE PARTICIPANT MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE POLICY TO SUPPLEMENT RETIREMENT INCOME. THE BORROWINGS ARE MONITORED TO ENSURE THE POLICY WILL PAY A DEATH BENEFIT AT LEAST SUFFICIENT TO COVER THE CREDIT UNION'S OUTLAYS PLUS INTEREST. ANY REMAINING DEATH BENEFITS ARE DIVIDED BETWEEN THE CREDIT UNION AND THE PARTICIPANT'S BENEFICIARIES AS AGREED UPON. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS MEMBERS. 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 MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. 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 THE MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11B THE ACCOUNTING DEPARTMENT DOES VERIFY AND TIE OUT THE FIGURES TO THE FINANCIAL STATEMENTS. FORM 990, PART VI, SECTION B, LINE 12C THE EXTERNAL AUDITORS PERFORM AN AUDIT OF EMPLOYEE ACCOUNTS AND THEIR RESPECTIVE FINANCIAL AND GENERAL LEDGER TRANSACTIONS ON A QUARTERLY BASIS TO MONITOR AND VERIFY THAT THERE ARE NO TRANSACTIONS PERFORMED BY THE EMPLOYEE AND/OR ON THEIR RESPECTIVE ACCOUNT THAT ARE IMPROPER AND/OR CONFLICT WITH THEIR JOB RESPONSIBILITIES. FORM 990, PART VI, SECTION B, LINE 15 A MINIMUM OF ONCE A YEAR, COMPARABLE COMPENSATION DATA IS RESEARCHED USING MULTIPLE RESOURCES INCLUDING COMPDATASURVEYS (BANKING AND FINANCE), CUES SURVEYS AND CUNA SURVEYS. USING THE TEN POINT FACTORS, ALL POSITIONS ARE EVALUATED FOR BOTH INTERNAL AND EXTERNAL EQUITY TO DETERMINE THE APPROPRIATE SALARY RANGE. THIS RANGE IS APPROVED BY THE CEO AND REVIEWED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 CONFLICTS OF INTEREST POLICIES ARE NOT PUBLICLY PUBLISHED. QUARTERLY FINANCIALS ARE PUBLISHED AT THE ENTRANCE OF EACH OF THE BRANCH OFFICES, THE CALL REPORT IS FILED QUARTERLY WHICH IS PUBLIC INFORMATION AND OUR ANNUAL REPORT IS AVAILABLE TO ALL MEMBERS WHICH CONTAINS FINANCIALS. IF REQUESTED, BY-LAWS WOULD BE MADE AVAILABLE FOR VIEWING AT THE ADMINISTRATIVE OFFICES. FORM 990, PART IX, LINE 24E BILL PAY/MOBILE BANKING 611,435. MISCELLANEOUS 312,355. ATM EXPENSES 205,006. OREO MAINTENANCE 116,178. EDUCATION/TRAINING 109,256. GOVERNMENT AFFAIRS/EVENTS 43,609. 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. SIX PILLARS FINANCIAL ADVISORS LLC 2073 SUMMIT LAKE DRIVE SUITE 100 TALLAHASSEE FL 32317 453322731 FINANCIAL ADVISORS FL 429022 17997 FIRST COMMERCE CREDIT UNION 1