2025-11-17T16:24:32-06:00 2024-12-31 994260840 DOEREN MAYHEW 8785 SW 165TH AVENUE SUITE 303 MIAMI FL 33193 990 2024-01-01 596194363 MIDFLORIDA CREDIT UNION MIDF 8636162100 PO BOX 8008 LAKELAND FL 338028008 ZELDA ABRAM CFO 8636162100 2025-11-16 0 AUBREY CLEGG P01076395 3052328272 2025-11-16 2024 2025-03-06 01:10:19Z SAMUEL S MOSELEY PO BOX 8008 LAKELAND FL 338028008 497579357 0 X WWW.MIDFLORIDA.COM X 1954 FL MIDFLORIDA CREDIT UNION IS COMMITTED TO DELIVERING PERSONALIZED FINANCIAL SOLUTIONS WHILE MAKING BANKING SIMPLE, SECURE AND CONVENIENT FOR ALL OF OUR MEMBERS. 11 11 1695 16 2306203 0 0 0 380830234 444634563 26686178 51855000 241569 731712 407757981 497221275 0 251083 0 0 111715525 116238774 0 0 0 195994375 270977674 307709900 387467531 100048081 109753744 7524107627 8142679220 6809634992 7308614588 714472635 834064632 X MIDFLORIDA CREDIT UNION IS COMMITTED TO DELIVERING PERSONALIZED FINANCIAL SOLUTIONS WHILE MAKING BANKING SIMPLE, SECURE AND CONVENIENT FOR ALL OF OUR MEMBERS. 0 1 PROVIDE NUMEROUS DEPOSITORY SERVICES TO MEMBERS INCLUDING REGULAR SAVINGS, SHARE DRAFTS, CERTIFICATES OF DEPOSIT, IRA, CLUB, HEALTH SAVINGS, AND MONEY MARKET ACCOUNTS WITH AGGREGATE DEPOSIT BALANCES THAT APPROXIMATED $6,929,555,000 AS OF DECEMBER 31, 2024. PROVIDE LOANS INCLUDING MORTGAGES, BUSINESS, HOME EQUITY, CREDIT CARDS, SHARE SECURED, VEHICLE, AND LINE OF CREDIT LOANS WITH AGGREGATE LOAN BALANCES THAT APPROXIMATED $6,348,857,000 AS OF DECEMBER 31, 2024. 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 1 0 0 0 0 0 0 0 0 1 1 1 1 0 1 194731 0 1 1695 1 1 1 0 0 0 0 0 1 0 X 11 11 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X ZELDA V ABRAM 8636162150 PO BOX 8008 LAKELAND FL 33802 CHRISTOPHER GEIGER BOARD CHARIPERSON 1.00 X 12623 0 0 CHESTER BROJEK BOARD VICE CHAIRPERSON 1.00 X 5592 0 0 DAN PIERCE BOARD SECRETARY 1.00 X 9183 0 0 NICK SUDZINA BOARD TREASURER 1.00 X 0 0 0 HARRY WILLIAMS BOARD MEMBER 1.00 X 13979 0 0 DARRELL JENSEN BOARD MEMBER 1.00 X 5805 0 0 SHIRLEY PELLARCHY BOARD MEMBER 1.00 X 9018 0 0 GARY RUHLE BOARD MEMBER 1.00 X 8472 0 0 DONALD WILLIAMS SR BOARD MEMBER 1.00 X 0 0 0 KENNETH HEUBUSCH BOARD MEMBER 1.00 X 0 0 0 JOHN UPPERCO BOARD MEMEBR 1.00 X 16960 0 0 STEVE MOSELEY PRESIDENT/CEO 40.00 X 1333296 0 1865204 ZELDA ABRAM EVP/CHIEF FINANCIAL OFFICER 40.00 X 572498 0 32612 JILL DAVIS CHIEF MARKETING OFFICER 40.00 X 365017 0 29729 STERLING GRUBBS EVP/CHIEF LENDING OFFICER 40.00 X 571731 0 43196 CHRISTOPHER DAVID EVP/CHIEF OPERATIONS OFFICER 40.00 X 528190 0 43196 TIMOTHY STALEY CHIEF COMMERCIAL LENDING 40.00 X 428260 0 42262 MICHAEL CHEESEMAN CHIEF ANALYTICS OFFICER 40.00 X 374943 0 40194 JAMES HAGGINS CHIEF OF COLLECTIONS 40.00 X 356805 0 31699 VANESSA HERNANDEZ CHIEF RETAIL DELIVERY 40.00 X 327643 0 27287 TIMOTHY LYSAK CHIEF INFORMATION OFFICER 40.00 X 325618 0 32273 ACIE FORRER SW FLORIDA MARKET PRESIDENT 40.00 X 371928 0 22814 HUGH DAILEY CEO SOUTHEAST TRUST/SPECIAL ASSET MANAGER 34.00 6.00 X 368659 0 31758 CAMERON BROCK SVPII COMMERCIAL RELATIONSHIP OFFICER 40.00 X 314749 0 30271 LORI KATZ SVPII COMMERCIAL LOAN ADMINISTRATOR 40.00 X 275419 0 20287 DAVID BOEHLING SVP/PRIVATE CLIENT OFFICER 40.00 X 250930 0 29945 6847318 0 2322727 165 0 1 0 MEDIASSOCIATES 75 GLEN ROAD SANDY HOOK CT 06482 MARKETING 9623189 FISERV PO BOX 933193 ATLANTA GA 31193 SOFTWARE 4065538 CDW PO BOX 75723 CHICAGO IL 60675 SOFTWARE 3108812 SEIBOLD SECURITY 12 AQUEDUCT ST 1ST FLOOR ROCHESTER NY 14614 SECURITY/ALARM 1955905 SPRINGER VOSS CONSTRUCTION INC 2622 LONGHORN DR LAKELAND FL 33801 CONSTRUCTION 1511187 129 INTEREST ON LOANS 522100 321235307 321235307 FEES AND OTHER INCOME 522100 121093053 121093053 FINANCE & INSURANCE 520000 2306203 2306203 444634563 51747064 51747064 805149 73437 731712 731712 731712 392581 284645 107936 107936 107936 497221275 494915072 2306203 0 X 251083 7453285 87214741 3499619 11888866 6182263 389749 344100 17922910 20378383 20196516 11290781 1108079 1275501 132174319 10288004 PROVISION FOR LOAN LOSS 38878421 LOAN SERVICING 13683232 FORGERY LOSSES 1849638 FEDERAL OPERATING FEE 656196 541845 387467531 39494277 40138289 651554599 534302031 61540223 96942143 28325278 5856028576 6348856647 52022109 67140675 303642259 88906417 195055782 214735842 362272936 514372922 20690627 29377114 93143267 93143267 192305231 175345012 7524107627 8142679220 100852057 74170982 13564314 13243459 280320057 291645212 6414898564 6929554935 6809634992 7308614588 X 0 0 0 0 714472635 834064632 714472635 834064632 7524107627 8142679220 X 109753744 -3487567 13325820 X X 0 1 X 1 0 0 1 X 76080843 76080843 166074214 50878063 115196151 8534566 2228789 6305777 51888664 35799565 16089099 1063972 1063972 214735842 MEMBER SHARE ACCOUNTS 6929554935 6929554935 X PART IV, LINE 2B: ON A MONTHLY BASIS, THE CREDIT UNION COLLECTS PAYMENT FROM MEMBERS WITH MORTGAGE LOANS OUTSTANDING. AS STIPULATED BY THE AGREEMENT SIGNED BY BOTH PARTIES, THE MONTHLY PAYMENT FOR EACH MEMBER INCLUDES PRINCIPAL, INTEREST, AND ESCROWS. ESCROWS ARE USED TO PAY TAXES AND INSURANCE ON THE PROPERTY. 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 POLK EDUCATION FOUNDATION 1530 SHUMATE DR BARTOW FL 33830 592956529 501(C)(3) 90083 0 PROVIDING FINANCIAL RESOURCES FOR HIGHER EDUCATION. SOUTHEASTERN UNIVERSITY 1000 LONGFELLOW BLVD LAKELAND FL 33801 590722789 501(C)(3) 75000 0 PAYING FOR COLLEGE SERIES. SOUTHEASTERN CREDIT UNION FOUNDATION 3692 COOLIDGE COURT TALLAHASSEE FL 32311 592252733 501(C)(3) 20000 0 COMMUNITY DEVELOPMENT. FLORIDA POLYTECHNIC UNIVERSITY FOUNDATION 439 S FLORIDA AVE STE 300 LAKELAND FL 33801 461426289 501(C)(3) 20000 0 PRESIDENTIAL AMBASSADORS PROGRAM. POLK ECUMENICAL ACTION COUNCIL FOR EMPOWERMENT 932 MARTIN L KING JR AVE LAKELAND FL 33815 593461155 501(C)(3) 15000 0 COMMUNITY DEVELOPMENT. HIGHLANDS COUNTY EDUCATION FOUNDATION 426 SCHOOL STREET SEBRING FL 33870 593497604 501(C)(3) 13500 0 PROVIDING FINANCIAL RESOURCES FOR HIGHER EDUCATION. UNITED WAY OF CENTRAL FLORIDA PO BOX 1357 HIGHLAND CITY FL 33846 592116280 501(C)(3) 10000 0 2024 DAY OF CARING EVENT. SOUTH FLORIDA STATE COLLEGE FOUNDATION 13 E MAIN ST AVON PARK FL 33825 593050497 501(C)(3) 7500 0 HELP PROMOTE HIGHER EDUCATION. 8 0 PART I, LINE 2: THESE ARE CHARITABLE CONTRIBUTIONS, NOT GRANTS. THEREFORE, THERE IS NO SUBSEQUENT MONITORING BY THE CREDIT UNION. X X X 1 1 X X X X X 0 1 0 STEVE MOSELEY PRESIDENT/CEO 995440 0 295034 0 42822 0 1845967 0 19237 0 3198500 0 0 0 STERLING GRUBBS EVP/CHIEF LENDING OFFICER 432356 0 123858 0 15517 0 15525 0 27671 0 614927 0 0 0 ZELDA ABRAM EVP/CHIEF FINANCIAL OFFICER 435083 0 122298 0 15117 0 15525 0 17087 0 605110 0 0 0 CHRISTOPHER DAVID EVP/CHIEF OPERATIONS OFFICER 397680 0 112088 0 18422 0 15525 0 27671 0 571386 0 0 0 TIMOTHY STALEY CHIEF COMMERCIAL LENDING 314470 0 92165 0 21625 0 14591 0 27671 0 470522 0 0 0 MICHAEL CHEESEMAN CHIEF ANALYTICS OFFICER 271005 0 80625 0 23313 0 12523 0 27671 0 415137 0 0 0 HUGH DAILEY CEO SOUTHEAST TRUST/SPECIAL ASSET MA 273690 0 79789 0 15180 0 12521 0 19237 0 400417 0 0 0 JILL DAVIS CHIEF MARKETING OFFICER 276098 0 80970 0 7949 0 12642 0 17087 0 394746 0 0 0 ACIE FORRER SW FLORIDA MARKET PRESIDENT 281790 0 79657 0 10481 0 12742 0 10072 0 394742 0 0 0 JAMES HAGGINS CHIEF OF COLLECTIONS 270994 0 80325 0 5486 0 12462 0 19237 0 388504 0 0 0 TIMOTHY LYSAK CHIEF INFORMATION OFFICER 248450 0 71298 0 5870 0 11716 0 20557 0 357891 0 0 0 VANESSA HERNANDEZ CHIEF RETAIL DELIVERY 247705 0 69797 0 10141 0 10200 0 17087 0 354930 0 0 0 CAMERON BROCK SVPII COMMERCIAL RELATIONSHIP OFFICE 240179 0 69960 0 4610 0 11034 0 19237 0 345020 0 0 0 LORI KATZ SVPII COMMERCIAL LOAN ADMINISTRATOR 222307 0 50074 0 3038 0 10137 0 10150 0 295706 0 0 0 DAVID BOEHLING SVP/PRIVATE CLIENT OFFICER 119535 0 129317 0 2078 0 10623 0 19322 0 280875 0 0 0 PART I, LINE 4B STEVE MOSELEY, THE PRESIDENT/CEO, PARTICIPATED IN A NON-QUALIFIED RETIREMENT PLAN IN 2024. DURING 2024, THE CREDIT UNION ACCRUED $1,788,619 TOWARD THE PLAN. THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS TO THE PRESIDENT/CEO, STEVE MOSELEY, THE EVP/CFO, ZELDA ABRAM, THE EVP/COO, CHRISTOPHER DAVID, THE EVP/CLO, STERLING GRUBBS, THE CIO, TIMOTHY LYSAK, AND THE CCL, TIMOTHY STALEY, THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." AT SPECIFIED TIMES, THE PARTICIPANTS MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE UNDERLYING LIFE INSURANCE POLICY TO SUPPLEMENT RETIREMENT INCOME. THESE DRAWS ARE TAX FREE FOR THE PARTICIPANTS. UPON THE PARTICIPANT'S DEATH THE CREDIT UNION RECOVERS ITS PREMIUMS PLUS INTEREST, PLUS KEY-PERSON INSURANCE PROCEEDS. SEE SCHEDULE L. STEVE MOSELEY CEO SPLIT DOLLAR X 17300000 17172535 0 1 1 ZELDA ABRAM CFO SPLIT DOLLAR X 2000000 2207808 0 1 1 CHRISTOPHER DAVID COO SPLIT DOLLAR X 2250000 2483785 0 1 1 STERLING GRUBBS CLO SPLIT DOLLAR X 2400000 2649371 0 1 1 TIMOTHY STALEY CCL SPLIT DOLLAR X 1400000 1484689 0 1 1 TIMOTHY LYSAK CIO SPLIT DOLLAR X 2200000 2327090 0 1 1 28325278 FORM 990, SCH L, PART II THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR" PLAN. THE IRS REQUIRES REPORTING IN PART II AS A LOAN TO AN INTERESTED PARTY. THE CREDIT UNION RECOVERS ANY OUTLAYS, PLUS INTEREST, FROM THE UNDERLYING POLICY. THAT IS, THE CREDIT UNION DEPOSITS FUNDS DIRECTLY INTO A LIFE INSURANCE POLICY TO ENSURE REPAYMENT; HOWEVER, THESE LOANS WERE GRANTED WITH RECOURSE. AT SPECIFIED TIMES, THE PARTICIPANTS MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE POLICY TO SUPPLEMENT RETIREMENT INCOME. THE BORROWINGS ARE MONITORED TO ENSURE THE POLICY WILL PAY A DEATH BENEFIT AT LEAST SUFFICIENT TO COVER THE CREDIT UNION'S OUTLAYS PLUS INTEREST. ANY REMAINING DEATH BENEFITS ARE DIVIDED BETWEEN THE CREDIT UNION AND THE PARTICIPANT'S BENEFICIARIES AS AGREED UPON. FORM 990, PART III, LINE 3 OUR WHOLLY OWNED SUBSIDIARY, MIDFLORIDA INSURANCE, LLC CEASED OPERATIONS IN DECEMBER 2024. THE ACTIVITIES OF MIDFLORIDA INSURANCE, LLC THROUGH THE DATE OPERATIONS CEASED ARE INCLUDED IN THE ACTIVITIES OF THE CREDIT UNION WITHIN FORM 990. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A ANNUAL ELECTIONS ARE HELD AND ALL MEMBERS IN GOOD STANDING ARE ENTITLED TO VOTE FOR THE SLATE OF VOLUNTEERS THAT HAVE BEEN PLACED ON BALLOTS. 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 ANNUAL TAX RETURNS ARE REVIEWED BY CERTAIN OFFICERS OF THE CREDIT UNION AND BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C THE ENFORCEMENT OF CONFLICTS OF INTEREST ARE CARRIED OUT BY THE ORGANIZATION. ANY CONFLICTS OF INTEREST RELATED TO OFFICERS AND DIRECTORS ARE REPORTED TO THE STATE AS PART OF THE ANNUAL REGULATORY AUDIT. FORM 990, PART VI, SECTION B, LINE 15 THE SALARY ADMINISTRATOR CONDUCTS BIENNIAL SALARY SURVEYS, USING FINANCIAL INDUSTRY SOURCES, TO ENSURE THAT SALARIES AND SALARY RANGES REFLECT CURRENT MARKET CONDITIONS. THE BOARD PERSONNEL COMMITTEE AND THE BOARD OF DIRECTORS REVIEW AND APPROVE SALARY RANGES AND CHANGES. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS AND OTHER DOCUMENTS ARE AVAILABLE FOR REVIEW UPON REQUEST. FORM 990, PART IX, LINE 11G DEBIT CARD PROCESSING FEE 10,332,826. ATM PROCESSING FEE 2,389,155. HOME BANKING 1,414,569. DEBIT CARD PREPARATION 764,975. MEMBER STATEMENT PRODUCTION 506,458. OTHER PROFESSIONAL SERVICES 2,514,927. FORM 990, PART IX, LINE 24E ASSOCIATION DUES 344,383. MISCELLANEOUS 92,764. UNCOLLECTIBLE PROCESSING COST 62,146. CASH OVER & SHORT 41,352. ANNUAL MEETING 1,200. FORM 990, PART XI, LINE 9: NET CHANGE IN ACTUARIAL GAIN/(LOSS) ON DEFINED BENEFIT PENSION PLAN 13,325,820. FORM 990, PART XII, LINE 2C: A COMMITTEE EXISTS THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF THE ANNUAL FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. MIDFLORIDA INSURANCE SERVICES LLC 129 S KENTUCKY AVE LAKELAND FL 33801 462807225 INSURANCE FL 59066 0 MIDFLORIDA CREDIT UNION MIDFLORIDA TITLE PROFESSIONALS LLC PO BOX 8008 LAKELAND FL 33802 510423632 REAL ESTATE FL MIDFLORIDA CREDIT UNION RELATED 154515 181939 0 0 0.55000 SOUTHEAST LOAN ORIGINATION LLC 129 S KENTUCKY AVE LAKELAND FL 33801 861606513 NONMEMBER DEPOSITS FL MIDFLORIDA CREDIT UNION C 46480 1420349 1.00000 0 SOUTHEAST TRUST COMPANY LLC 129 S KENTUCKY AVE LAKELAND FL 33801 843227853 TRUST COMPANY FL MIDFLORIDA CREDIT UNION C 2113268 4533795 1.00000 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 MIDFLORIDA TITLE PROFESSIONALS LLC A 24000 CONTRACT SOUTHEAST TRUST COMPANY LLC A 21000 CONTRACT