2016-11-15T17:43:52-06:00 2015-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2015-01-01 590248325 STATE CHARTERED CREDIT UNIONS IN 121 FINANCIAL CREDIT UNION STAT 9047236300 PO BOX 16688 JACKSONVILLE FL 322456688 JANE SCOFIELD SVP/CFO 9047236300 2016-11-15 1 DOUGLAS J ORTH P01076394 3052328272 2015 2017-02-10 21:41:12Z BRUCE FAFARD PO BOX 16688 JACKSONVILLE FL 322456688 31538950 0 X WWW.121FCU.ORG X 1935 FL TO SHARE IN THE FINANCIAL SUCCESS OF OUR MEMBERS BY PROVIDING SERVICES WITH INTEGRITY AND FAIRNESS. 10 10 210 13 349389 -94633 0 0 18703929 22441599 1811079 1615239 185975 539431 20700983 24596269 0 0 0 0 7957728 10747626 0 0 0 10279477 14217788 18237205 24965414 2463778 -369145 443057646 506125282 394080780 452579118 48976866 53546164 TO SHARE IN THE FINANCIAL SUCCESS OF OUR MEMBERS BY PROVIDING SERVICES WITH INTEGRITY AND FAIRNESS. 0 0 PROVIDE SAVINGS PRODUCTS WHICH MEET THE NEEDS OF OUR MEMBERS. PROVIDE LENDING PRODUCTS WHICH MEET THE NEEDS OF OUR MEMBERS. PROVIDE OUR MEMBERS SOUND, STABLE AND EVOLVING FINANCIAL SOLUTIONS. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 10755 0 1 210 1 1 1 0 0 0 0 0 X 10 10 0 0 0 0 1 1 1 1 0 0 1 1 0 1 1 1 1 1 1 1 0 X JANE SCOFIELD SVPCFO 9047236300 9700 TOUCHTON ROAD JACKSONVILLE FL 32246 GEORGE W CAULEY BOARD MEMBER 2.00 X 0 0 0 ROBERT M GIPSON BOARD MEMBER 2.00 X 0 0 0 RAYMOND EDDIE CLANTON CHAIRMAN 2.00 X 0 0 0 J MICHAEL HOGAN VICE CHAIRMAN 2.00 X 0 0 0 JOHN SCOTT III BOARD MEMBER 2.00 X 0 0 0 BILLIE C GREENLIEF BOARD MEMBER 2.00 X 0 0 0 CYNTHIA A DELASSUS TREASURER 2.00 X 0 0 0 WILLIAM H MACOMBER JR BOARD MEMBER 2.00 X 0 0 0 SHELBA WILLIAMS SECRETARY 2.00 X 0 0 0 LEN PICKETT BOARD MEMBER 2.00 X 0 0 0 WILLIAM BRADDOCK JR PRESIDENT/CEO 40.00 X 239925 0 34419 REBECCA S HULETT SVP CFO 40.00 X 155527 0 16655 BRUCE FAFARD PRESIDENT/CEO 40.00 X 305882 0 18053 DAVID MAROVICH COO 40.00 X 154545 0 16573 GRETCHEN QUISENBERRY SVP HUMAN RESOURCES 40.00 X 116140 0 8450 CINDY BRESLIN VP OF MARKETING 40.00 X 101079 0 7787 PHILLIP SPRINGER VP OF ACCOUNTING 40.00 X 114523 0 15081 PAUL BLACKSTONE CSO 40.00 X 100396 0 3919 1288017 0 120937 8 0 1 0 FISERV INC PO BOX 300016 DULUTH GA 30096 DATA PROCESSING 1016247 SCHERER CONSTRUCTION 2926 EDISON AVE JACKSONVILLE FL 32254 CONSTRUCTION 829682 JACK HENRY PO BOX 609 MONETT MO 65708 DATA PROCESSING 599287 ADAPT 600 ENTERPRISE DR SUITE 204 OAK BROOK IL 60523 TELEPHONE SERVICES 367532 GLORY GLOBAL SOLUTIONS INC PO BOX 71252 CHICAGO IL 60694 CASH MACHINES 193420 13 INCOME ON MEMBER LOANS 522100 15809488 15809488 FEES & CHARGES 522100 6282722 6282722 NON MEMBER ATMS 900099 173585 173585 INVESTMENT ADVISORY SERVICES 525990 159709 159709 INSURANCE INCOME 524298 16095 16095 22441599 1501674 1501674 7056246 6942681 113565 113565 113565 OTHER INCOME 522100 539431 539431 539431 24596269 24246880 349389 0 941579 7915122 357641 912105 621179 78298 61200 906239 815764 1423635 1507370 882829 256827 46688 1715124 55832 976856 201910 ATM/DEBIT/CREDIT 2192692 LOAN SERVICING 931320 PROVISION FOR LOAN LOSS 784000 MAINTENANCE 641221 739983 24965414 2062847 3334464 23271587 10758822 287762 374059 265211469 354153808 984462 1904563 30182373 11978166 16694046 18204207 123529329 104990445 499361 171796 11016144 11733757 443057646 506125282 2455597 3223909 10000000 24000000 381625183 425355209 394080780 452579118 X 0 0 0 0 48976866 53546164 48976866 53546164 443057646 506125282 X -369145 165411 4773032 X X 0 1 X 1 0 8750772 8750772 11839966 3325217 8514749 452312 443384 8928 9139323 8209565 929758 18204207 REGULAR SHARES 107092101 SHARE DRAFTS 71393923 MONEY MARKET 131528593 CERTIFICATES OF DEPOSIT 92129345 IRA SHARES 18746589 CLUB ACCOUNTS 4464658 425355209 X 24596269 0 24596269 0 24596269 24965414 0 24965414 0 24965414 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL INCOME TAXES ON INCOME RELATED TO THE EXEMPT PURPOSE OF THE CREDIT UNION. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION 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 POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION'S INCOME TAX FILINGS ARE SUBJECT TO AUDIT BY VARIOUS TAXING AUTHORITIES AND OPEN AUDIT TAX PERIODS INCLUDE 2012 - 2015. X 1 1 X X 0 0 0 WILLIAM BRADDOCK JR PRESIDENT/CEO 213760 0 26165 0 0 0 14516 0 19903 0 274344 0 0 0 REBECCA S HULETT SVP CFO 155527 0 0 0 0 0 8793 0 7862 0 172182 0 0 0 BRUCE FAFARD PRESIDENT/CEO 294482 0 0 0 11400 0 4990 0 13063 0 323935 0 0 0 DAVID MAROVICH COO 134496 0 20049 0 0 0 8496 0 8077 0 171118 0 0 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 HAS AN ANNUAL ELECTION IN WHICH THE MEMBERS ELECT THE BOARD OF DIRECTORS. 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 A, LINE 8B THE CREDIT UNION DOES NOT HAVE A COMMITTEE WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11 THE ORGANIZATION DOES NOT PROVIDE A COPY OF FORM 990 TO THE GOVERNING BODY PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ALL EMPLOYEES ARE REQUIRED TO SIGN A STATEMENT ANNUALLY STATING THAT THEY ARE NOT INVOLVED IN ANY TRANSACTIONS THAT WOULD BE A CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE REVIEW OF THE CEO'S COMPENSATION IS DONE ANNUALLY BY THE BOARD OF DIRECTORS (BOD). THE BOD USES AN EXECUTIVE COMPENSATION SURVEY FROM AN INDEPENDENT THIRD PARTY AND EACH MEMBER DOES AN INDIVIDUAL REVIEW TO DETERMINE THE CEO'S COMPENSATION. FOR ALL OTHER SENIOR MANAGEMENT, THE CEO USES AN EXECUTIVE COMPENSATION SURVEY FROM AN INDEPENDENT THIRD PARTY AS WELL AS AN INTERNAL INDEPENDENT SALARY ADMINISTRATION SYSTEM TO DETERMINE THEIR COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION MAKES ITS FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: NET CHANGE IN POSTRETIREMENT BENEFIT -289,207. RECLASSIFICATION ADJUSTMENT FOR GAINS ON AVAILABLE FOR SALE INVESTMENTS -146,384. EQUITY ACQUIRED THROUGH MERGER 5,208,623. FORM 990, PART XII, LINE 2C: WE HAVE A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNT. OUR PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.