2018-11-15T19:40:58-06:00 2017-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2017-01-01 590873652 ENVISION CREDIT UNION ENVI 8509429000 440 N MONROE STREET TALLAHASSEE FL 32301 STEPHANIE STRAKER SVP OF FINANCE 8509429000 2018-11-15 1 DOUGLAS J ORTH P01076394 3052328272 64.95.240.2 2018-11-15 18:23:03 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 6C9B1A35775087DBDB8A6D25ECA509C7F6C27838 2017 2019-02-21 02:37:17Z MR DARRYL WORRELL 440 N MONROE ST TALLAHASSEE FL 32301 31650042 0 2106 X WWW.ENVISION.COM X 1954 FL TO SAFEGUARD AND MANAGE THE ASSETS ENTRUSTED TO THE CREDIT UNION BY ITS MEMBER-OWNERS; TO BETTER THE ECONOMIC WELL BEING OF OUR MEMBER-OWNERS BY DELIVERING CONVENIENT PERSONALIZED PRODUCTS AND SERVICES OF EXCEPTIONAL VALUE. 7 7 255 12 153019 92351 0 0 19026933 24192333 2284041 1970747 4841578 5486962 26152552 31650042 0 0 0 0 7961963 9112503 0 0 0 15743301 17212367 23705264 26324870 2447288 5325172 451662818 520221684 413066877 474319276 38595941 45902408 X MEET MEMBERS' FINANCIAL NEEDS THROUGH QUALITY SERVICE AT THE BEST VALUE WHILE MAINTAINING FINANCIAL STABILITY. 0 1 INCOME FROM THE CREDIT UNION MEMBERSHIP AND FROM INVESTMENT OF MEMBERS' FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP. 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 0 0 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 1 12951 0 1 255 1 1 1 0 0 0 0 0 X 7 7 1 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X MR DARRYL WORRELL 8509429000 440 N MONROE ST TALLAHASSEE FL 32301 DR JIM CROTEAU CHAIRPERSON 1.00 X 0 0 0 LEE GARNER 1ST VICE CHAIR 1.00 X 0 0 0 E EUGENE MCNEASE BOARD MEMBER 1.00 X 0 0 0 M CHRISTOPHER BRYANT TREASURER 1.00 X 0 0 0 DR CASSANDRA GRAYSON 2ND VICE CHAIR 1.00 X 0 0 0 ALLETA SHUTES BOARD MEMBER 1.00 X 0 0 0 ANTHONY GAUDIO BOARD MEMBER 1.00 X 0 0 0 DARRYL G WORRELL PRESIDENT/CEO 40.00 X 322335 0 40267 STEPHANIE STRAKER SVP FINANCE 40.00 X 126783 0 15638 HOLLIE MADDOX SVP MEMBER SERVICES 40.00 X 188438 0 52417 WILLIAM ENFINGER SVP/ CHIEF LENDING OFFICER 40.00 X 201706 0 18644 KEVIN MCALPINE VP COMMERCIAL LENDING 40.00 X 197844 0 15197 1037106 0 142163 5 0 1 0 UNITED SOLUTIONS COMPANY PO BOX 5496 TALLAHASSEE FL 32314 OPTICAL SERVICES 1964354 NCR 14181 COLLECTIONS CENTER DR CHICAGO IL 60693 ATM SERVICES 1085422 FISERV EFT SOLUTION PO BOX 6000 SAN FRANCISCO CA 94160 CREDIT/DEBIT SERVICES 796710 CONSTRUCTIONS & MAINTENANCE SPECIALISTS 3550 LAKESHORE DRIVE TALLAHASSEE FL 32312 BLDG & LAWN MAINTENANCE 443001 DIGITAL INSIGHT PO BOX 740641 LOS ANGELES CA 900740641 ON LINE BANKING 348690 24 INTEREST ON LOANS 522100 17743634 17743634 FEES/CHARGES/OTHER 522100 6295680 6295680 NON MEMBERS ATM FEES 900099 130479 130479 NON MEMBER CHECK CASHING FEES 900099 22540 22540 24192333 1970747 1970747 OTHER NON-OPERATING INCOME 522100 5486962 5486962 5486962 31650042 31497023 153019 0 X 745878 6600282 210166 969452 586725 388237 69210 2000 1057507 1318531 889834 2525178 497541 68845 48096 1304187 62171 1141838 157763 PROVISION FOR LOAN LOSS 2489386 VISA/DEBIT FEES/CHARGES 1834339 LOAN SERVICING 1820641 MAINTENANCE CONTRACTS 719662 817401 26324870 13147340 6794585 12709084 43311099 2112496 4231437 6583133 8044767 299425730 366678660 797381 321091 26140498 9548464 13908640 16592034 80369964 53317783 397200 1048000 583333 880526 21628517 19001702 451662818 520221684 8860204 10973563 15000000 404206673 448345713 413066877 474319276 X 0 0 0 0 38595941 45902408 38595941 45902408 451662818 520221684 X 5325172 493633 1487662 X X 0 1 X 1 0 5734101 5734101 12370945 4640635 7730310 194441 56740 137701 7841011 4851089 2989922 16592034 CHECKING ACCOUNTS 188860049 REGULAR SHARES 108842830 MONEY MARKET 74727618 CERTIFICATES OF DEPOSIT 64899839 IRA/KEOGH 11015377 448345713 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL AND STATE INCOME TAXES. THE INCOME TAXES TOPIC OF THE FASB ASC CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE 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 (UBIT). 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 2016, 2015, AND 2014 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, OR LESS THAN THE YEARS OPEN FOR EXAMINATION BY THE IRS. X 1 1 X X X X X 0 1 0 DARRYL G WORRELL PRESIDENT/CEO 281724 0 30000 0 10611 0 18705 0 21562 0 362602 0 0 0 HOLLIE MADDOX SVP MEMBER SERVICES 153024 0 35000 0 414 0 11361 0 41056 0 240855 0 0 0 WILLIAM ENFINGER SVP/ CHIEF LENDING OFFICER 164102 0 35700 0 1904 0 11290 0 7354 0 220350 0 0 0 KEVIN MCALPINE VP COMMERCIAL LENDING 173883 0 14420 0 9541 0 7970 0 7227 0 213041 0 0 0 PART I, LINE 4B DARRY J WORRELL PARTICIPATES IN A SECURED SPLIT DOLLAR PROGRAM WHERE BY ECU LOANS THE OFFICER FUNDS FOR THE PURCHASE OF TWO LIFE INSURANCE POLICIES. THE FIRST POLICY IS KNOWN AS THE REPAYMENT POLICY AND IS DESIGNED TO REPAY THE CREDIT UNION THE AMOUNT OF THE LOAN PLUS INTEREST UPON THE DEATH OF THE INSURED. THE SECOND POLICY FOCUSES ON FUNDING THE EXECUTIVE LOANS TO SUPPLEMENT RETIREMENT INCOME. WILLIAM ENFINGER PARTICIPATES IN A SECURED SPLIT DOLLAR PROGRAM WHEREBY ECU LOANS THE OFFICER FUNDS FOR THE PURCHASE OF TWO LIFE INSURANCE POLICIES. THE FIRST POLICY IS KNOW AS THE REPAYMENT POLICY AND IS DESIGNED TO REPAY THE CREDIT UNION THE AMOUNT OF THE LOANPLUS INTEREST UPON THE DEATH OF THE INSURED. THE SECOND POLICY FOCUSES ON FUNDING THE EXECUTIVE LOANS TO SUPPLEMENT RETIREMENT INCOME. THIS WAS AN EXISTING POLICY THAT WAS CONTINUED AFTER THE MERGER OF FOCUS CREDIT UNION, EFFECTIVE AS OF FEBRUARY 1, 2016. KEVIN MCALPINE HAS A LIFE INSURANCE POLICY THAT SERVES AS A RETIREMENT VEHICLE; THE POLICY PREMIUM AMOUNT IS GROSSED UP AND PAID THE ANNUAL PREMIUM. DARRYL WORRELL PRESIDENT/CEO TO FUND DEFERRED COMPENSATION PLAN X 5851580 6601820 0 1 1 WILLIAM ENFINGER SVP/CHIEF LENDING OFFICER TO FUND LIFE INSURANCE POLICY X 1250000 1442947 0 1 1 8044767 FORM 990, PART III, LINE 3 BEGAN THE IMPLEMENTATION OF ITMS (INTEGRATED TELLER MACHINES) AT SOME OF OUR FINANCIAL CENTERS WHICH WILL TAKE THE PLACE OF HAVING TELLERS IN THE DRIVE THROUGH FACILITIES. THE MACHINES ARE OPERATED BY A TEAM OF STAFF AT A CENTRALIZED LOCATION DURING WORKING HOURS AND OPERATE AS ATM'S AT OTHER TIMES. THIS PROJECT WILL CONTINUE INTO 2018. FORM 990, PART VI, SECTION A, LINE 2 BOARD SECRETARY, ALLETA SHUTES HAS A BUSINESS RELATIONSHIP MAINTAINED AT THE CREDIT UNION. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION MEMBERSHIP MAY PARTICIPATE IN THE ELECTION OF OFFICIALS. EACH MEMBER HAS ONLY ONE VOTE; IT IS NOT POSSIBLE FOR A SINGLE MEMBER TO ELECT A MEMBER TO THE GOVERNING BODY. 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 WHEN THE FORM 990 HAS BEEN COMPLETED BY THE CPA FIRM AND RECEIVED BY ECU, IT IS REVIEWED FIRST BY THE CFO FOR ACCURACY, THEN BY THE CEO AND LATER BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C COMPLIANCE WITH THE CREDIT UNION'S OFFICER, DIRECTOR, AND EMPLOYEE POLICIES REGARDING CONFLICTS OF INTEREST ARE ADDRESSED IN THE RELATED POLICIES. FORM 990, PART VI, SECTION B, LINE 15 IT IS THE POLICY OF THE CREDIT UNION TO PAY COMPENSATION THAT IS NONDICRIMINATORY AND COMPETITIVE. HOWEVER, ALL COMPENSATION POLICY DECISIONS MUST TAKE INTO CONSIDERATION, ENVISION CREDIT UNION'S OVERALL FINANCIAL CONDITION AND COMPETITIVE POSITION. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S GOVERNING DOCUMENTS ARE NOT MADE AVAILALBE TO THE PUBLIC. THE CREDIT UNION'S CONFLICT OF INTEREST POLICY IS NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC VIEWING ON THE NCUA WEBSITE, VIA THE QUARTERLY 5300 FILING. FORM 990, PART IX, LINE 24E MISC. EXPENSE 517,040. EQUIPMENT RENTAL/MAINTENANCE 429,142. ATM/DEBIT VISA NETWORK COSTS 334,087. ATM/DEBIT MISC LOSSES 296,875. REAL ESTATE/TANGIBLE TAXES 209,561. EDUCATION 197,480. NCUA ASSESSMENT 99,606. CASH OVER/SHORT 19,949. OFFICER LOAN ADJUSTMENT -1,286,339. FORM 990, PART XI, LINE 9: RECLASSIFICATION ADJUSTMENTS FOR NET INVESTMENT GAINS INCLUDED IN NET INCOME NET PENSION LOSSES -16,046. EQUITY ACQUIRED IN MERGER 1,503,708. 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. 1ST MEMBER INSURANCE GROUP 303 EAST WASHINGTON STREET CHATTAHOOCHEE FL 32324 141925692 INSURANCE & FINANCIAL PLAN FL 121877 224006 ENVISION CR UNION FRENCHTOWN FINANCIAL CENTER 2806 SHARER ROAD TALLAHASSEE FL 32312 FINANCIAL CENTER FL RELATED 671 79014 0 0 0.50000 IDRIVE LENDING LLC 2806 SHARER ROAD TALLAHASSEE FL 32312 461603351 INDIREDCT AUTO LENDING FL RELATED 538039 238423 0 0 0.50000 UNITED SOLUTIONS COMPANY PO BOX 5496 TALLAHASSEE FL 32314 592285914 CU SERVICES FL C 167209 2220143 0.77810 0 1 1 0 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0 1 UNITED SOLUTIONS COMPANY D 4909555 PRINCIPAL BALANCE UNITED SOLUTIONS COMPANY A 246232 ACTUAL INTEREST EARNED ON LOAN UNITED SOLUTIONS COMPANY S 259460 USC DEPOSITS AT ENVISION CU-12/31 UNITED SOLUTIONS COMPANY M 1859229 ACTUAL DATA PROCESSING EXPENSE UNITED SOLUTIONS COMPANY K 28500 ACTUAL LEASE EXPENSES FRENCHTOWN FIANCIAL OPPORTUINTY CENTER B 100000 CAPITAL CONTRIBUTION