2025-11-17T15:00:14-06:00 2024-12-31 994260840 DOEREN MAYHEW 8785 SW 165TH AVENUE SUITE 303 MIAMI FL 33193 990 2024-01-01 111644012 FAIRWINDS CREDIT UNION FAIR 4072776030 135 W CENTRAL BLVD 1220 ORLANDO FL 32801 KIMBERLY B WIGHTMAN CFO 4072775045 2025-11-17 1 0 AUBREY CLEGG P01076395 3052328272 2025-11-16 2024 2025-03-06 01:10:19Z LARRY F TOBIN 135 W CENTRAL BLVD ORLANDO FL 32801 273583772 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 AMONG 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 7 723 10 4664938 0 0 0 177962125 220947169 31463190 46702695 5079297 4664938 214504612 272314802 328653 379519 0 0 63136545 72281218 0 0 0 105722663 144010348 169187861 216671085 45316751 55643717 4424198635 4725516705 4126222940 4364296245 297975695 361220460 CHANGING MEMBERS' LIVES ON THE JOURNEY TO FINANCIAL FREEDOM 0 0 THE CREDIT UNION NATIONAL ASSOCIATION HAS DETERMINED THAT FAIRWINDS PROVIDED $14,665,075 IN DIRECT FINANCIAL BENEFITS TO ITS 230,706 MEMBERS DURING THE TWELVE MONTHS ENDED DECEMBER 2024. THESE BENEFITS ARE EQUIVALENT TO APPROXIMATELY $133 PER MEMBER HOUSEHOLD. FAIRWINDS SAVED OUR MEMBERS APPROXIMATELY $2.2 MILLION ON THEIR 15-YEAR MORTGAGES IN 2024 BY OFFERING 15-YEAR MORTGAGE LOAN RATES THAT WERE AT LEAST 0.48% LOWER THAN RATES OFFERED BY OTHER FLORIDA BANKS. FAIRWINDS SAVED OUR MEMBER APPROXIMATELY $4.9 MILLION ON THEIR 30-YEAR MORTGAGES IN 2024 BY OFFERING 30-YEAR MORTGAGE LOAN RATES THAT WERE AT LEAST 0.61% LOWER THAN RATES OFFERED BY OTHER FLORIDA BANKS. 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 0 0 0 0 0 1 1 1 1 0 1 171532 0 1 723 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 KIMBERLY B WIGHTMAN 4072776030 135 W CENTRAL BLVD 1220 ORLANDO FL 32801 CAROL DENTON BOARD MEMBER 0.50 X 12161 0 0 JOHN MAHONY VICE CHAIRPERSON 0.50 X 57709 0 0 ELIZABETH KRAHMER CHAIRPERSON 0.50 X 39023 0 0 MACK PERRY BOARD MEMBER 0.50 X 14913 0 0 RICHARD LEIGH SECRETARY 0.50 X 19388 0 0 LISA SNEAD BOARD MEMBER 0.50 X 19219 0 0 JASON ALBU TREASURER 0.50 X 45174 0 0 LARRY TOBIN CEO/PRESIDENT 60.00 X 4871981 0 4111312 KATHY CHONODY SR EVP-CFO 60.00 X 1269396 0 98926 PHILLIP TISCHER SR EVP-COO 60.00 X 986302 0 417462 JAMES ADAMCZYK SR EVP-CRO 60.00 X 791959 0 413695 CHARLES LAI CIO 60.00 X 812722 0 89299 MATHY HOGAN EXECUTIVE VP - ESERVICES 60.00 X 531928 0 80362 DIANNE OWEN EXECUTIVE VP - MARKETING 60.00 X 504343 0 208760 LINDSEY LEWINTER EXECUTIVE VP - HRM 60.00 X 395714 0 131104 BRYAN MEIZINGER EXECUTIVE VP - CHIEF CREDIT OFFICER 60.00 X 469220 0 105825 THOMAS HOWELL VP-FINANCIAL ADVISOR 60.00 X 932521 0 36722 THOMAS BALDWIN III SENIOR VP-RETAIL BANKING & WEALTH MANAGEMENT 60.00 X 346270 0 50258 JORGE M FONT SENIOR VP-BUSINESS SERVICES 60.00 X 402422 0 66348 KIMBERLY WIGHTMAN EVP-FINANCE 60.00 X 376296 0 62429 JAMES THORNBERRY SVP - MEMBER EXPERIENCE 60.00 X 329028 0 33634 13227689 0 5906136 114 0 1 0 PSCU FINANCIAL SERVICES INC 560 CARILLON PARKWAY ST PETERSBURG FL 33716 DEBIT & CREDIT CARD PROCESSOR 8876716 VISA USA INC PO BOX 742233 LOS ANGELES CA 900742233 CREDIT CARD SETTLEMENT 4129531 FISERV INC PO BOX 934057 ATLANTA GA 311934057 CORE COMPUTING SYSTEM PROVIDER 2599653 FIDELITY INVESTMENTS PO BOX 770001 CINCINNATI OH 452770003 401K EMPLOYER MATCH 6% 2438726 NCR CORPORATION PO BOX 740641 LOS ANGELES CA 90074 CONSUMER ONLINE BANKING, ATM MAINTENANCE 1946779 102 INTEREST INCOME ON LOANS 522100 149753427 149753427 FEES, CHARGES, & OTHER 522100 71193742 71193742 220947169 35971665 35971665 12000000 1268970 10731030 10731030 10731030 FINANCE & INSURANCE 520000 4664938 4664938 4664938 272314802 231678199 4664938 35971665 X 379519 14247897 38252863 2174247 13815359 3790852 634061 318593 277195 750583 1599503 5369486 3110709 12574841 3818616 1064604 127710 79712767 184582 2865024 592191 VISA CREDIT EXPENSES 8198473 DEBIT EXPENSES 6608958 PROVISION FOR LOAN LOSS 5900834 LOAN SERVICING EXPENSE 3140663 7160955 216671085 11086451 9127125 16754392 145295363 9537530 4091796 2909575981 3104966985 3818678 4118310 154473194 58012536 97626783 96460658 1133240461 1011858176 3122600 103097100 71144489 71144489 168291270 175356703 4424198635 4725516705 63855209 63087449 55000000 4007367731 4301208796 4126222940 4364296245 X 0 0 0 0 297975695 361220460 297975695 361220460 4424198635 4725516705 55643717 7601048 0 X X 0 1 X 1 0 27875197 27875197 83023434 21869643 61153791 10641145 8167280 2473865 32933418 27975613 4957805 96460658 MEMBER SHARES 4301208796 4301208796 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE AND LOCAL INCOME TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE (IRC) AND STATE TAX LAWS. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME DERIVED BY STATE-CHARTERED CREDIT UNIONS. GENERALLY, THESE TAXES ARE INSIGNIFICANT TO THE CREDIT UNION. 1 FAIRWINDS FOUNDATION INC 135 W CENRAL BLVD SUITE 1230 ORLANDO FL 32801 320510999 501(C)(3) 379519 0 TO PROMOTE FINANCIAL LITERACY AND EDUCATION 1 0 PART I, LINE 2: FAIRWINDS CREDIT UNION SPONSORS FAIRWINDS FOUNDATION, INC. DONATIONS TO THE ORGANIZATION ARE USED TO PROMOTE FINANCIAL LITERACY. THE FOUNDATION'S BOARD IS COMPRISED OF EMPLOYEES OF THE CREDIT UNION WHO ENSURE FUNDS ARE USED APPROPRIATELY. X X X X 1 1 X X X 0 1 0 LARRY TOBIN CEO/PRESIDENT 1312033 0 1529020 0 2030928 0 3777382 0 333930 0 8983293 0 2000000 0 PHILLIP TISCHER SR EVP-COO 437655 0 504981 0 43666 0 408377 0 9085 0 1403764 0 0 0 KATHY CHONODY SR EVP-CFO 541012 0 601452 0 126932 0 91008 0 7918 0 1368322 0 0 0 JAMES ADAMCZYK SR EVP-CRO 278415 0 431781 0 81763 0 394569 0 19126 0 1205654 0 0 0 THOMAS HOWELL VP-FINANCIAL ADVISOR 925801 0 0 0 6720 0 17400 0 19322 0 969243 0 0 0 CHARLES LAI CIO 183904 0 345213 0 283605 0 81401 0 7898 0 902021 0 250000 0 DIANNE OWEN EXECUTIVE VP - MARKETING 200356 0 298199 0 5788 0 104380 0 104380 0 713103 0 0 0 MATHY HOGAN EXECUTIVE VP - ESERVICES 177466 0 326394 0 28068 0 65985 0 14377 0 612290 0 0 0 BRYAN MEIZINGER EXECUTIVE VP - CHIEF CREDIT OFFICER 123321 0 305577 0 40322 0 91170 0 14655 0 575045 0 0 0 LINDSEY LEWINTER EXECUTIVE VP - HRM 107822 0 269543 0 18349 0 65552 0 65552 0 526818 0 0 0 JORGE M FONT SENIOR VP-BUSINESS SERVICES 98165 0 281884 0 22373 0 53397 0 12951 0 468770 0 0 0 KIMBERLY WIGHTMAN EVP-FINANCE 86016 0 268579 0 21701 0 50513 0 11916 0 438725 0 0 0 THOMAS BALDWIN III SENIOR VP-RETAIL BANKING & WEALTH MA 78823 0 258043 0 9404 0 31999 0 18259 0 396528 0 0 0 JAMES THORNBERRY SVP - MEMBER EXPERIENCE 91301 0 232197 0 5530 0 14194 0 19440 0 362662 0 0 0 PART I, LINE 1A THE CREDIT UNION PROVIDES HOME SECURITY SYSTEMS FOR THE CEO AND CFO AND 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. THE BALANCE REPORTED BELOW REPRESENTS THE SERP BENEFIT LIABILITY AS OF DECEMBER 31, 2024. LARRY TOBIN - CEO/PRESIDENT $8,478,308 KATHY CHONODY - SR EVP-CFO $1,081,921 PHILLIP TISCHER - SR EVP-COO $3,096,359 MATHY HOGAN - EXEC VP-PAYMENTS & DIGITAL BANKING $217,559 CHARLES LAI - EXEC VP-CIO $332,255 JAMES ADAMCZYK- SR EVP-CSO $1,780,983 JORGE M. FONT - SVP-BUSINESS SERVICES $300,000 KIMBERLY WRIGHTMAN - SVP-FINANCE/CONTROLLER $178,636 BRYAN MEIZINGER - SVP-LENDING $382,577 THOMAS BALDWIN III - SVP-RETAIL BANKING & WEALTH MANAGEMENT $80,000 JAMES THORNBERRY - SVP-MEMBER EXPERIENCE $138,528 THE FOLLOWING EMPLOYEES RECEIVED A PAYOUT DURING 2024: LARRY TOBIN: $2,000,000 (SERP) CHARLES S. LAI: $250,000 (SERP) 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 INTEREST POLICY IS NOT MADE AVAILABLE FOR PUBLIC VIEWING. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL SERVICES 1,599,503. FORM 990, PART IX, LINE 24E ATM EXPENSES 3,055,440. MAINTENANCE 2,794,205. MISCELLANEOUS EXPENSES 1,127,544. TRAINING/DEVELOPMENT/EDUCATION 183,766. 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 57361 FAIRWINDS CREDIT UNION FAIRWINDS INSURANCE SERVICES LLC 135 W CENTRAL BLVD ORLANDO FL 32801 452718103 PROVIDING INSURANCE SERVICES FL 38563 548661 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 1 0 0 0 0 FAIRWINDS FOUNDATION INC B 379519 ACTUAL FAIRWINDS FOUNDATION INC O 81707 ESTIMATED