2016-11-10T12:33:37-06:00 2015-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2015-01-01 590873652 ENVISION CREDIT UNION ENVI 8509429000 440 N MONROE STREET TALLAHASSEE FL 32301 STEPHANIE STRAKER VP OF FINANCE 8509429000 2016-11-10 1 DOUGLAS J ORTH P01076394 3052328272 2015 2017-02-10 21:41:12Z MR DARRYL WORRELL 440 N MONROE ST TALLAHASSEE FL 32301 33995450 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. 5 5 171 8 517308 97849 0 0 13411492 13206802 1793012 1186588 3676237 6495303 18880741 20888693 0 0 0 0 5307959 5396777 0 0 0 12440600 10986591 17748559 16383368 1132182 4505325 275921017 303045242 253504436 276490038 22416581 26555204 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 0 1 0 0 1 10166 0 1 171 1 1 1 0 0 0 0 0 0 0 X 5 5 0 0 0 0 1 1 1 1 1 0 0 1 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 THOMAS B PERRIN 1ST VICE CHAIR 1.00 X 0 0 0 DR KAREN SAMUEL 2ND VICE CHAIR 1.00 X 0 0 0 M CHRISTOPHER BRYANT SECRETARY 1.00 X 0 0 0 DR SAM CCALL TREASURER 1.00 X 0 0 0 DARRYL G WORRELL PRESIDENT/CEO 40.00 X 266799 0 35607 STEPHANIE STRAKER VP FINANCE 40.00 X 85429 0 6506 HOLLIE MADDOX SVP MEMBER SERVICES 40.00 X 160443 0 16174 ANICE R PROSSER CAO/SVP ADMINISTRATION 40.00 X 141853 0 21079 EDITH GRINER SVP PMT SYSTEMS 20.00 X 128229 0 8223 782753 0 87589 4 0 1 0 FIS 11601 N ROOSEVELT BLVD ST PETERSBURG FL 33716 VISA CARD SERVICES 2203728 UNITED SOLUTIONS COMPANY PO BOX 5496 TALLAHASSEE FL 32314 OPTICAL SERVICES 1401780 WILLIAMS GAUTIER GWYNN DELOACH & SORE PO BOX 4128 TALLAHASSEE FL 323154128 LEGAL SERVICES 307849 CONSTRUCTIONS & MAINTENANCE SPECIALISTS 3550 LAKESHORE DRIVE TALLAHASSEE FL 32312 BLDG & LAWN MAINTENANCE 294188 OFFICIAL PAYMENTS CORP PO BOX 418410 BOSTON MA 022418410 BILL PAY SERVICES 204590 12 INTEREST ON LOANS 522100 8870744 8870744 FEES/CHARGES/OTHER 522100 3818750 3818750 NON MEMBERS ATM FEES 900099 504333 504333 NON MEMBER CHECK CASHING FEES 900099 12975 12975 13206802 1127588 1127588 13021625 144132 12958917 147840 62708 -3708 59000 59000 MISCELLANEOUS INCOME 522100 6284627 6284627 OTHER NON OPERATING INCOME 522100 210676 210676 6495303 20888693 20371385 517308 0 X 570958 570958 3886593 3886593 143137 143137 447868 447868 348221 348221 299821 299821 59077 59077 6000 6000 455993 455993 444187 444187 598529 598529 1459070 1459070 178049 178049 24382 24382 58786 58786 575311 575311 41382 41382 863061 863061 138815 138815 VISA/DEBIT FEES/CHARGES 2180933 2180933 LOAN SERVICING 1020463 1020463 PROVISION FOR LOAN LOSS 749912 749912 MAINTENANCE CONTRACTS 419703 419703 1413117 1413117 16383368 16383368 0 0 27090473 34728732 1254724 2752274 5722944 5697305 170903652 169145302 305206 388976 17722913 7458258 10432620 10264655 46565802 65968876 579100 589800 13066496 13509322 275921017 303045242 5034199 5158404 7500000 7500000 240970237 263831634 253504436 276490038 X 0 0 0 0 22416581 26555204 22416581 26555204 275921017 303045242 X 4505325 -310009 -56693 X 0 1 X 1 0 4087604 4087604 8891785 3809182 5082603 4743524 3649076 1094448 10264655 CHECKING ACCOUNTS 72643652 REGULAR SHARES 104205503 MONEY MARKET 60953148 CERTIFICATES OF DEPOSIT 14546870 IRA/KEOGH 11482461 263831634 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES; HOWEVER, THE CONSOLIDATED SUBSIDIARY IS NOT EXEMPT. USC ACCOUNTS FOR INCOME TAXES IN ACCORDANCE WITH THE PROVISIONS OF THE INCOME TAXES TOPIC OF THE FASB ASC. THE STATEMENT REQUIRES THAT DEFERRED INCOME TAXES REFLECT TAX CONSEQUENCES ON FUTURE YEARS OF DIFFERENCES BETWEEN THE TAX BASIS OF ASSETS AND LIABILITIES AND THEIR BASIS FOR FINANCIAL REPORTING PURPOSES. IN ADDITION, THIS TOPIC REQUIRES THE RECOGNITION OF FUTURE TAX BENEFITS, SUCH AS NET OPERATING LOSS CARRY FORWARDS, TO THE EXTENT THAT REALIZATION OF SUCH BENEFITS ARE MORE LIKELY THAN NOT. DEFERRED TAXES ARE PROVIDED FOR PURPOSES OF REPORTING ON TEMPORARY DIFFERENCES BETWEEN ACCOUNTING AND TAXABLE INCOME. 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 TO SPECIFIC STATE-CHARTERED CREDIT UNIONS SPECIFYING THE REVENUE SOURCES SUBJECT TO UNRELATED BUSINESS INCOME TAX. UBI MAY ALSO BE SUBJECT TO TAX IN CERTAIN STATES. 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 2014, 2013, AND 2012 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 THAN 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 251679 0 4985 0 10135 0 15900 0 19707 0 302406 0 0 0 HOLLIE MADDOX SVP MEMBER SERVICES 145634 0 14437 0 372 0 9706 0 6468 0 176617 0 0 0 ANICE R PROSSER CAO/SVP ADMINISTRATION 126879 0 13303 0 1671 0 14681 0 6398 0 162932 0 0 0 PART I, LINE 4B THE FOLLOWING EMPLOYEES PARTICIPATED IN A 457(F) PLAN. ANICE PROSSNER (AMOUNT EQUAL TO 6 MONTHS SALARY ON RETIREMENT AFTER A PRE-DETERMINED DATE). PART I, LINE 4B DARRYL WORRELL 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 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. DARRYL WORRELL PRESIDENT/CEO TO FUND DEFERRED COMPENSATION PLAN X 5851580 5697305 0 1 1 5697305 FORM 990, PART III, LINE 3 CREDIT CARD PORTFOLIO WAS SOLD. 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 11 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 ATM/DEBIT VISA NETWORK COSTS: PROGRAM SERVICE EXPENSES 320,631. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 320,631. EQUIPMENT RENTAL/MAINTENANCE: PROGRAM SERVICE EXPENSES 288,224. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 288,224. MISC. EXPENSE: PROGRAM SERVICE EXPENSES 225,658. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 225,658. OFFICER LOAN ADJUSTMENT: PROGRAM SERVICE EXPENSES 180,230. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 180,230. REAL ESTATE/TANGIBLE TAXES: PROGRAM SERVICE EXPENSES 161,668. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 161,668. EDUCATION: PROGRAM SERVICE EXPENSES 96,207. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 96,207. NCUA ASSESSMENT: PROGRAM SERVICE EXPENSES 70,074. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 70,074. CASH OVER/SHORT: PROGRAM SERVICE EXPENSES 40,577. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 40,577. ATM/DEBIT MISC LOSSES: PROGRAM SERVICE EXPENSES 29,848. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 29,848. FORM 990, PART XI, LINE 9: RECLASSIFICATION ADJUSTMENTS FOR NET INVESTMENT GAINS -56,693. INCLUDED IN NET INCOME UNITED MEMBER BUSINESS SERVICES LLC 440 NORTH MONROE STREET TALLAHASSEE FL 32301 261991154 COMMERCIAL LENDING FL RELATED 117408 12276 0 0 0.33330 IDRIVE LENDING LLC 2806 SHARER ROAD TALLAHASSEE FL 32312 461603351 INDIREDCT AUTO LENDING FL RELATED 213390 60117 0 0 0.50000 UNITED SOLUTIONS COMPANY PO BOX 5496 TALLAHASSEE FL 32314 592285914 CU SERVICES FL C 4570408 5381043 0.51380 0 1 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 UNITED SOLUTIONS COMPANY D 3606325 PRINCIPAL BALANCE UNITED SOLUTIONS COMPANY A 180157 ACTUAL INTEREST EARNED ON LOAN UNITED SOLUTIONS COMPANY S 383818 USC DEPOSITS AT ENVISION CU-12/31 UNITED SOLUTIONS COMPANY M 1303409 ACTUAL DATA PROCESSING EXPENSE UNITED SOLUTIONS COMPANY R 106000 PREPAID DATA PROCESSING