2017-05-15T09:41:41-05:00 2016-12-31 454084437 WARREN AVERETT LLC 316 SOUTH BAYLEN ST SUITE 300 PENSACOLA FL 32502 990 2016-01-01 590806310 FLORIDA STATE UNIVERSITY CREDIT UNION FLOR 8502244960 PO BOX 182499 TALLAHASSEE FL 32318 J BRADLEY BLAKE PRESIDENT/CEO 8502244960 2017-05-12 1 JENNIFER C KING CPA P01052625 8504357400 2017-05-12 209.136.244.2 2017-05-12 13:51:49 CD P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 024EF3AB430A43B3C5FF45BED95884387026A8C9 2016 2021-01-29 14:40:06Z J BRADLEY BLAKE 2806 SHARER ROAD TALLAHASSEE FL 32312 12346143 0 X WWW.FSUCU.ORG X CREDIT UNION 1954 FL AS A NOT-FOR-PROFIT FINANCIAL COOPERATIVE, FSU CREDIT UNION ENCOURAGES THRIFT AMONG ITS MEMBERS BY PROVIDING LOWER FEES, LOWER LOAN RATES, AND HIGHER DIVIDENDS AS AN ALTERNATIVE TO TRADITIONAL BANKS. 9 9 96 12 247418 -147350 0 0 7709493 8434424 126573 152303 3552860 3748174 11388926 12334901 52570 34930 0 0 4114438 4663720 0 0 0 5865347 6490474 10032355 11189124 1356571 1145777 174080096 192562540 157268042 174604709 16812054 17957831 X THE CREDIT UNION'S MISSION IS TO PROMOTE THRIFT AMONG ITS MEMBERS AND CREATE A SOURCE OF CREDIT FOR THEM AT LEGITIMATE RATES OF INTEREST. THE CREDIT UNION SERVES MEMBERS IN TALLAHASSEE, FLORIDA AND ITS SURROUNDING AREAS. THE TOTAL NUMBER OF MEMBERS IS APPROXIMATELY 22,750. 0 0 CONSUMER LOANS - LOANS ARE OFFERED AT FAIR INTEREST RATES THAT ALLOW OUR MEMBERS TO SAVE MONEY ON THEIR LOAN PAYMENTS AND USE THOSE FUNDS ELSEWHERE IN THEIR BUDGETS. THRIFT IS ENCOURAGED WHEN THE MEMBER IS DECIDING WHAT TYPE OF PAYMENT IS AFFORDABLE. DEPOSIT ACCOUNTS - COMPETITIVE DIVIDEND RATES ARE PAID EVEN TO MEMBERS OF MODEST MEANS. THIS HELPS THE MEMBERS TO BETTER THEIR ECONOMIC POSITIONS AND SAVE FOR THE FUTURE. ELECTRONIC SERVICES - WE OFFER MANY WAYS TO MAKE CONDUCTING FINANCIAL TRANSACTIONS EASY. THIS AFFECTS EVERYONE FROM THE PERSON STILL USING THE PHONE SYSTEM TO TRANSFER MONEY TO THE HI-TECH MEMBER WHO DOES ALL OF THEIR BANKING CONVENIENTLY ON THEIR SMART PHONE. OUR MEMBERS BENEFIT FROM ONLINE BANKING, BILLPAY, ATMS, PHONE SYSTEM, ACCOUNT AGGREGATION SOFTWARE, ESTATEMENTS, ELERTS, ETC. 0 0 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 1 4535 0 1 96 1 1 1 0 0 0 0 0 X 9 9 0 0 0 0 1 1 0 1 1 0 0 0 1 1 0 1 1 1 1 0 X J BRADLEY BLAKE 8502244960 2806 SHARER ROAD TALLAHASSEE FL 32312 FRANCIS J FLYNN DIRECTOR 0.50 X 0 0 0 WILLIAM WOODYARD DIRECTOR 0.50 X 0 0 0 MARK STRIFFLER TREASURER 0.50 X X 0 0 0 WILLIAM BRYNES DIRECTOR 0.50 X 0 0 0 LESLIE FENNELL DIRECTOR 0.50 X 0 0 0 DRG STACY SIRMANS CHAIRMAN 0.50 X X 0 0 0 ROBIN HAGGINS SECRETARY 0.50 X X 0 0 0 DAVE SAGASER DIRECTOR 0.50 X 0 0 0 WILLIAM S AGNER CO-CHAIRMAN 0.50 X X 0 0 0 CHRISTOPHER WALLACE VP OF OPERATIONS 45.00 X 124292 0 21975 MICHAEL P PHILLIPS VP OF ADMINISTRATION 45.00 X 124161 0 21692 CHARLES ADCOCK III EVP 35.00 13.00 X 217724 0 37543 JENNIFER DURDEN CFO 45.00 X 137182 0 32584 J BRADLEY BLAKE PRESIDENT/CEO 45.00 X 256186 0 38693 KEITH HAY IT DIRECTOR 45.00 X 107252 0 30688 966797 0 183175 6 0 1 0 WILLIAMS GAUTIER GWYNN DELOACH & SORE PO BOX 4128 TALLAHASSEE FL 32315 LEGAL 187272 1 INTEREST ON LOANS 522100 8434424 8434424 8434424 150999 150999 12546 11242 1304 1304 1304 OTHER INCOME 522100 3622528 3622528 IDRIVE ENVISION INCOME 522100 173900 173900 NONMEMBER ATM SURCHARGES 522100 41518 41518 -89772 -121772 32000 3748174 12334901 11935180 247418 152303 34930 1012032 2701597 94241 607000 248850 78158 45600 177787 372609 449139 513471 354629 37919 11413 1046281 298351 110320 PROVISION FOR LOAN LOSS 1353000 DEBIT CARD EXPENSES 415294 LOAN SERVICING 372930 COLLECTION EXPENSE 274890 578683 11189124 2133442 2639169 13299262 15495838 40643 95744 1320000 1485000 136693560 152809098 1048681 1039772 10979948 2792448 8367903 8187500 8505095 8156047 2671510 2654372 174080096 192562540 1425544 1887161 155842498 172717548 157268042 174604709 X 0 0 0 0 16812054 17957831 16812054 17957831 174080096 192562540 1145777 0 X X 0 0 0 1377 1377 1377 1 FLORIDA CREDIT UNION POLITICAL ACTION COMMITTEE 3692 COOLIDGE COURT TALLAHASSEE FL 32311 591889104 1377 PART I-A, LINE 1: THE CREDIT UNION CONTRIBUTED TO THE FLORIDA CREDIT UNION POLITICAL ACTION COMMITTEE THROUGH THE CREDIT UNION LEAGUE. 3219452 3219452 5491842 910002 4581840 253295 239672 13623 2015359 1642774 372585 8187500 MEMBER DEPOSIT ACCOUNTS 172717548 172717548 1 SEMINOLE BOOSTERS INC 225 UNIVERSITY CENTER C SUITE C5100 C5100 TALLAHASSEE FL 32306 591561180 501(C)3 15000 TO PROVIDE FUNDING FOR SCHOLARSHIPS FOR STUDENT ATHLETES. KIDZ 1ST FUND 1400 VILLAGE SQUARE BLVD SUITE 3-229 TALLAHASSEE FL 32312 454355903 501(C)3 19930 TO PROVIDE RESEARCH MONEY FOR THE PREVENTION AND CURE OF FANCONI ANEMIA. 2 0 PART I, LINE 2: PROFESSIONAL MONEY MANAGERS CONSERVATIVELY INVEST THE FUNDS OF THE SCHOLARSHIP ENDOWMENT. A COMMITTEE OF EXPERIENCED SEMINOLE BOOSTER SENIOR VOLUNTEERS OVERSEES THE INVESTMENT DECISIONS. PART I, LINE 2: THE DONATION TO KIDZ 1ST FUND WAS MADE BY THE CREDIT UNION WITHOUT RESTRICTIONS TO BE USED HOW THE FUND DEEMED NECESSARY. X X X X 0 1 0 CHARLES ADCOCK III EVP 199030 0 13426 0 5268 0 13235 0 24308 0 255267 0 0 0 JENNIFER DURDEN CFO 108522 0 28390 0 270 0 8330 0 24254 0 169766 0 0 0 J BRADLEY BLAKE PRESIDENT/CEO 237055 0 13527 0 5604 0 14475 0 24218 0 294879 0 0 0 PART I, LINE 4B THE CREDIT UNION HAS COLLATERAL ASSIGNMENT SPLIT-DOLLAR LIFE INSURANCE ARRANGEMENTS WITH J. BRADLEY BLAKE, PRESIDENT/CEO, AND CHARLES ADCOCK, III, EVP. THE ANNUAL PREMIUMS ON THE POLICIES ARE FUNDED BY THE CREDIT UNION THROUGH LOANS TO THE PRESIDENT/CEO AND EVP. INTEREST ON THE LOANS IS PAID ANNUALLY AND INCLUDED AS GROSS WAGES ON THE W-2'S OF MR. BLAKE AND MR. ADCOCK. J BRADLEY BLAKE TO PAY THE PREMIUMS OF A COLLATERAL ASSIGNMENT SPLIT-DOLLAR PLAN. X 765000 765000 0 1 1 CHARLES ADCOCK III TO PAY THE PREMIUMS OF A COLLATERAL ASSIGNMENT SPLIT-DOLLAR PLAN. X 720000 720000 0 1 1 1485000 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS OWNED BY ITS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION'S BOARD OF DIRECTORS CONSISTS OF NINE MEMBERS. THE BOARD MEMBERS ARE ELECTED TO VACANT POSITIONS BY THE MEMBERSHIP AT THE ANNUAL MEETING EACH YEAR. THEY ARE ALLOWED TO SERVE THREE THREE-YEAR TERMS AND THEN MUST LEAVE THE BOARD FOR AT LEAST ONE YEAR BEFORE BEING ELIGIBLE TO RUN AGAIN. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PREPARED BY OUR CPA AND THEN REVIEWED BY THE PRESIDENT/CEO AND CFO PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 15 MANAGEMENT IS RESPONSIBLE FOR COORDINATING THE CONTINUING INTERNAL REVIEW OF ALL COMPENSATION AND FOR MAKING SURE THAT EACH JOB IS EVALUATED AND ASSIGNED A JOB GRADE AND SALARY RANGE. A BIANNUAL REVIEW OF PROJECTED LABOR MARKET WAGE/SALARY STRUCTURE WILL BE CONDUCTED. THE PROJECTED LABOR MARKET WAGE/SALARY STRUCTURE CHANGES WILL BE CONSIDERED TO DETERMINE THE WAGE/SALARY RANGES FOR THE FOLLOWING YEAR. SALARIES WILL BE COMPARED TO THOSE PAID FOR SIMILAR WORK AT OTHER CREDIT UNIONS AND ORGANIZATIONS SELECTED AS A BASIS FOR COMPARISON. WAGE/SALARY MIDPOINTS WILL BE ESTABLISHED AS CLOSELY AS POSSIBLE TO REFLECT MARKET CONSENSUS VALUES. THE COMPETITIVE WAGE/SALARY PHILOSOPHY AND THE ORGANIZATIONAL FINANCIAL CONDITION WILL BE USED TO ESTABLISH OVERALL COMPENSATION RANGES. EXEMPT POSITIONS WILL BE COMPARED AGAINST ORGANIZATIONS IN SIMILAR INDUSTRIES WITH HEAVY EMPHASIS ON ASSOCIATIONS AND OTHER ORGANIZATIONS THAT PROVIDE SERVICES TO CREDIT UNIONS. NON-EXEMPT POSITION SALARY LEVELS WILL BE BASED ON A COMPILATION OF DATA FROM THE RELEVANT LOCAL MARKETS. WHEN NEW SALARY RANGES ARE DETERMINED, EMPLOYEES BELOW THE MINIMUM RANGE OF THEIR RANGE WILL BE BROUGHT TO THE MINIMUM ON THE EFFECTIVE DATE OF THE NEW RANGES. EXCEPTIONS TO BRINGING EMPLOYEES TO THE MINIMUM RANGE MUST BE NOTED (I.E. TRAINEE) AND EVERY EFFORT TO BRING THESE INDIVIDUALS TO THE MINIMUM OF THE RANGE SHOULD BE MADE. THE BOARD NEGOTIATES A CONTRACT WITH THE PRESIDENT BASED ON THE SALARY ADMINISTRATION PLAN MENTIONED ABOVE. THE EVP IS A CONTRACT EMPLOYEE BASED ON A CONTRACT SIGNED BY THE PRESIDENT OF THE CREDIT UNION. ALL OTHER EMPLOYEES' SALARIES ARE BASED ON PAY GRADE AND COMPARABLES USING COMPEASE FOR LIKE INSTITUTIONS. THE PRESIDENT GIVES FINAL APPROVAL FOR EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE CURRENT STATEMENT OF FINANCIAL CONDITION IS DISPLAYED IN THE LOBBY OF EACH BRANCH. THIS AS WELL AS THE INCOME STATEMENT ARE PRINTED IN THE ANNUAL REPORT WHILE SUMMARY DATA IS PRESENTED IN THE QUARTERLY NEWSLETTER. OTHER INFORMATION IS PRESENTED UPON REQUEST. FORM 990, PART XII, FINANCIAL STATEMENTS AND REPORTING, LINE 2B THE CREDIT UNION RECEIVES AN ANNUAL FINANCIAL STATEMENT OPINION AUDIT FROM LICENSED AUDITORS. HOWEVER, THE AUDIT PERIOD IS FROM OCTOBER 1ST THROUGH SEPTEMBER 30TH. THE LAST AUDITED FINANCIAL STATEMENTS ARE AS OF SEPTEMBER 30, 2015. FORM 990, PART XII, FINANCIAL STATEMENTS AND REPORTING, LINE 2C THE CREDIT UNION HAS A SUPERVISORY COMMITTEE WHICH CONSISTS OF THREE MEMBER VOLUNTEERS. THIS COMMITTEE ASSUMES THE RESPONSIBILITY FOR OVERSIGHT OF THE FINANICIAL STATEMENT AUDIT AND SELECTION OF THE INDEPENDENT ACCOUNTANT PERFORMING THE AUDIT. IDRIVELENDING LLC 2806 SHARER ROAD TALLAHASSEE FL 32312 461603351 INDIRECT LENDING FL N/A RELATED 42291 77165 0 1 0.50000 FRENCHTOWN FINANCIAL OPPORTUNITY CENTER LLC 2806 SHARER ROAD TALLAHASSEE FL 32312 812290152 FINANCIAL INSTITUTION IN UNDERSERVED COMMUNITY FL N/A RELATED -62415 64106 0 1 0.50000 0 1 0 0 0 0 0 0 0 1 0 1 1 1 1 0 1 0 1