2018-11-09T15:56:49-06:00 2017-12-31 382492570 DOEREN MAYHEW 305 WEST BIG BEAVER ROAD TROY MI 48084 990 2017-01-01 111644012 FAIRWINDS CREDIT UNION-FL STATE CHARTER FAIR 4072776030 135 W CENTRAL BLVD NO 1220 ORLANDO FL 32801 KATHY A CHONODY SENIOR EXECUTIVE VP/CFO 4072776030 2018-11-02 1 ROBERT PARKS CPA P00740435 2482443000 64.95.240.2 2018-11-02 16:14:48 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 A7DB26C3BB201601930FCFA0C4651552B54C26A2 2017 2019-02-21 02:37:17Z LARRY F TOBIN 135 W CENTRAL BLVD ORLANDO FL 32801 113698643 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 7 653 10 2708165 -2140896 0 0 93779492 99632479 10759835 11357999 2686728 2708165 107226055 113698643 0 97528 0 0 42336867 44077341 0 0 0 45629130 46836849 87965997 91011718 19260058 22686925 2077252101 2169373208 1876007307 1945017681 201244794 224355527 X 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. 0 0 THE CREDIT UNION NATIONAL ASSOCIATION HAS DETERMINED THAT FAIRWINDS CU PROVIDED SAVINGS TO MEMBERS TO BE APPROXIMATELY $108 PER MEMBER HOUSEHOLD FOR OUR 176,421 MEMBERS. FAIRWINDS SAVED OUR MEMBERS ABOUT $11.9 MILLION ON THEIR LOANS IN 2017. FAIRWINDS SAVED MEMBER MONEY BY OFFERING CAR LOAN RATES AT LEAST 2.14% LOWER THAN OTHER FLORIDA BANKS AND CREDIT CARD RATES STARTING 5.20% LESS OTHER FLORIDA SANKS. FAIRWINDS PAYS 0.02% MORE ON CERTIFICATES IN 2017 THAN BANKS, ALLOWING MEMBERS TO BE PAID $34,383 MORE THAN HAD THE CERTIFICATES BEEN WITH ANOTHER FLORIDA BANK. 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 0 0 0 1 64123 0 1 653 1 1 1 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 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 KELLY LEARY TREASURER 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 LARRY TOBIN CEO/PRESIDENT 60.00 X 1686957 0 652203 KATHY CHONODY CFO 60.00 X 739430 0 434805 PHILLIP TISCHER COO 60.00 X 532443 0 346367 MATHY HOGAN EXEC VP - ESERVICES 60.00 X 324745 0 77328 DIANNE OWEN EXEC VP - MARKETING 60.00 X 302560 0 78478 CHARLES LAI CIO 60.00 X 325885 0 79044 JAMES ADAMCZYK EXEC VP - LENDING 60.00 X 370525 0 100183 CATHY HERTZ EXEC VP - HUMAN RESOURCE M 60.00 X 278997 0 60612 THOMAS HOWELL VP-FINANCIAL ADVISOR 60.00 X 376053 0 28673 JAMES THORNBERRY SVP - MEMBER EXPERIENCE 60.00 X 216996 0 25202 DANIEL T BOCK III SVP - FINANCE 60.00 X 221133 0 77737 JORGE M FONT SVP - BUSINESS SERVICES 60.00 X 228446 0 67498 BRYAN MEIZINGER SVP -RETAIL LENDING 60.00 X 217847 0 26819 5822017 0 2054949 43 0 1 0 ALBU & ASSOCIATES 2711 W FAIRBANKS AVE WINTER PARK FL 32789 CONSTRUCTION CONTRACTOR 5576289 PSCU FINANCIAL SERVICES INC 560 CARILLON PARKWAY ST PETERSBURG FL 33716 DEBIT & CREDIT CARD PROCESSOR 3852589 FISERV PO BOX 300016 DULUTH GA 300960300 COMPUTER MAINTENANCE 3529409 VISA USA INC PO BOX 60000 SAN FRANCISCO CA 941603583 DEBIT & CREDIT CARD PROCESSOR 1211931 APPRAISAL LOGISTIC SOLUTIONS LLC 1997 ANNAPOLIS EXCHANGE PKWY ANNAPOLIS MD 21401 APPRAISAL SERVICES 659594 57 INTEREST INCOME ON LOANS 522100 57104672 57104672 FEES/CHARGES 522100 42527807 42527807 99632479 11357999 11357999 WEALTH MANAGEMENT FEES 525990 1634431 1634431 INSURANCE PRODUCTS 524298 806339 806339 NON-MEMBER ATM FEES 525990 267395 267395 2708165 113698643 99632479 2708165 11357999 X 97528 6390562 25830598 1246133 8295776 2314272 613206 122846 227820 621932 1029347 3146896 2744482 6143626 3588748 613350 4009 5663797 191937 3320113 691701 CASH DIRECT 4852880 LOAN SERVICING EXPENSE 2945775 PROVISION FOR LOAN LOSS 2753687 VISA CREDIT/DEBIT EXPEN 2654031 4906666 91011718 7186227 16954008 31435464 28615380 1227017 2245916 1340860901 1493711502 802954 1800511 144587608 49779455 89079889 94808153 524391590 449474155 6308871 4470152 75959188 77293431 2077252101 2169373208 21876433 24711124 2938109 4387255 75000000 25000000 1776192765 1890919302 1876007307 1945017681 X 0 0 0 0 201244794 224355527 201244794 224355527 2077252101 2169373208 X 22686925 -1308936 1732744 X X 0 1 X 1 0 24750510 24750510 73594082 15219740 58374342 10584830 6656713 3928117 35658186 27903002 7755184 94808153 MEMBER SHARES 1890919302 1890919302 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, 2017. 1 FAIRWINDS FOUNDATION INC 135 W CENRAL BLVD SUITE 1230 ORLANDO FL 32801 320510999 501(C)(3) 97528 BOOK TO PROMOTE FINANCIAL LITERACY AND EDUCATION X X 1 1 X X X 0 1 0 LARRY TOBIN CEO/PRESIDENT 619487 0 455166 0 612304 0 630442 0 21761 0 2339160 0 0 0 KATHY CHONODY CFO 411246 0 234452 0 93732 0 419501 0 15304 0 1174235 0 0 0 PHILLIP TISCHER COO 345687 0 158548 0 28208 0 333829 0 12538 0 878810 0 0 0 MATHY HOGAN EXEC VP - ESERVICES 221075 0 70288 0 33382 0 64328 0 13000 0 402073 0 0 0 DIANNE OWEN EXEC VP - MARKETING 222006 0 69037 0 11517 0 63232 0 15246 0 381038 0 0 0 CHARLES LAI CIO 244987 0 74441 0 6457 0 72780 0 6264 0 404929 0 0 0 JAMES ADAMCZYK EXEC VP - LENDING 273906 0 70733 0 25886 0 84879 0 15304 0 470708 0 0 0 CATHY HERTZ EXEC VP - HUMAN RESOURCE M 207909 0 65843 0 5245 0 54422 0 6190 0 339609 0 0 0 THOMAS HOWELL VP-FINANCIAL ADVISOR 364988 0 0 0 11065 0 13500 0 15173 0 404726 0 0 0 JAMES THORNBERRY SVP - MEMBER EXPERIENCE 162320 0 38340 0 16336 0 9933 0 15269 0 242198 0 0 0 DANIEL T BOCK III SVP - FINANCE 169829 0 40141 0 11163 0 62878 0 14859 0 298870 0 0 0 JORGE M FONT SVP - BUSINESS SERVICES 177971 0 41710 0 8765 0 52621 0 14877 0 295944 0 0 0 BRYAN MEIZINGER SVP -RETAIL LENDING 166228 0 39465 0 12154 0 11965 0 14854 0 244666 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 LARRY TOBIN - CEO/PRESIDENT, KATHY CHONODY - CFO, AND PHILLIP TISCHER - COO, PARTICIPATE IN A 457F DEFERRED COMPENSATION PLAN. DURING 2017, LARRY TOBIN, CEO/PRESIDENT, RECEIVED A BENEFIT PAYOUT FROM HIS 457(F) DEFERRED COMPENSATION PLAN IN THE AMOUNT OF $500,000. JASON ALBU JASON ALBU IS V CHAIR OF FAIRWINDS CREDIT UNION AND OWNER OF ALBU & ASSOC. 5576289 JASON ALBU IS A CU DIRECTOR AND OWNER OF ALBU & ASSOCIATES THE CONSTRUCTION COMPANY BUILDING OUR NEW EAST CAMPUS BUILDING. 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 REVIEWED BY THE CFO AND CONTROLLER. FORM 990, PART VI, SECTION B, LINE 12C COMPLIANCE WITH THE POLICY IS MONITORED BY OUR INTERNAL AUDIT DEPARTMENT ANNUALLY WITH A 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 IT TO THE BOARD OF DIRECTORS FOR APPROVAL AND IMPLEMENTATION. ALL OTHER MANAGEMENT COMPENSATION IS DETERMINED BY THE CEO USING 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 24E ATM EXPENSES 1,916,800. MAINTENANCE 1,455,206. MISCELLANEOUS EXPENSES 1,265,370. TRAINING/DEVELOPMENT/EDUCATION 269,290. FORM 990, PART XI, LINE 9: UNREALIZED GAIN ON SERP INVESTMENTS 1,732,744. 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 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. FAIRWINDS FINANCIAL SERVICES LLC 135 W CENTRAL BLVD ORLANDO FL 32801 593107994 INACTIVE - NO BUSINESS HAS BEEN PROCESSED FL 0 58732 FAIRWINDS CREDIT UNION FAIRWINDS INSURANCE SERVICES LLC 135 W CENTRAL BLVD ORLANDO FL 32801 452718103 PROVIDING INSURANCE SERVICES FL 259112 246937 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 15000 ACTUAL