2025-10-09T14:18:18-05:00 2024-12-31 994260840 DOEREN MAYHEW 8785 SW 165TH AVENUE SUITE 303 MIAMI FL 33193 990 2024-01-01 590705380 STATE CHARTERED CREDIT UNIONS IN FLORIDA FIRST FLORIDA CREDIT UNION STAT 9043596800 500 WEST 1ST STREET JACKSONVILLE FL 32202 BRADLEY A LONG EVP/CHIEF FINANCIAL OFFICER 8007664328 2025-10-06 1 0 AUBREY CLEGG P01076395 3052328272 2025-10-06 2024 2025-03-06 01:10:19Z FIRST FLORIDA CREDIT UNION BRENT E LISTER 500 WEST 1ST STREET JACKSONVILLE FL 32202 73983774 0 X WWW.FIRSTFLORIDA.ORG X CREDIT UNION 1950 FL FIRST FLORIDA CREDIT UNION IS DEDICATED TO DELIVERING FINANCIAL SOLUTIONS TO ENRICH MEMBERS' LIVES. 7 9 257 9 406097 0 0 0 54623765 62948000 9902791 10488855 434804 482664 64961360 73919519 0 0 0 0 19732821 21548448 0 0 0 37853058 47561530 57585879 69109978 7375481 4809541 1362026410 1382448900 1228478719 1240348815 133547691 142100085 FIRST FLORIDA CREDIT UNION IS DEDICATED TO DELIVERING FINANCIAL SOLUTIONS TO ENRICH MEMBERS' LIVES. 0 0 INCOME FROM 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 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 13700 0 1 257 1 1 1 0 0 0 0 0 0 0 X 7 9 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X BRADLEY A LONG 8007664328 500 WEST 1ST STREET JACKSONVILLE FL 32202 DEAN WILLIS CHAIRPERSON 2.00 X 0 0 0 CORNITA RILEY VICE CHAIRPERSON 2.00 X 0 0 0 JONATHAN R LYON TREASURER 2.00 X 0 0 0 SANDRA MAGYAR SECRETARY 2.00 X 0 0 0 NANCY H MEIER DIRECTOR 2.00 X 0 0 0 KEN JONES DIRECTOR 2.00 X 0 0 0 KYLE PETERS DIRECTOR 2.00 X 0 0 0 JENNIFER MARTIN ASSOCIATE DIRECTOR 2.00 X 0 0 0 JOHNNY BOWMAN JR ASSOCIATE DIRECTOR 2.00 X 0 0 0 BRENT LISTER PRESIDENT/CEO 40.00 X 952680 0 69040 JOSEPH CARPENTER CHIEF OPERATING OFFICER 40.00 X 375951 0 73352 BRADLEY A LONG EVP/CHIEF FINANCIAL OFFICER 40.00 X 369550 0 73347 MICHELLE TROHA CHIEF MARKETING OFFICER 40.00 X 205446 0 33103 ANDREA HURLEY CHIEF RISK OFFICER 40.00 X 203447 0 34432 TIMOTHY BROWN CHIEF TECHNOLOGY OFFICER 40.00 X 219285 0 42322 RICHARD MARKLEY CHIEF RETAIL OFFICER 40.00 X 220762 0 34850 ANGELA GARMAN CHIEF STRATEGY OFFICER 40.00 X 207748 0 31473 CHRISTIAN BARNETT MANAGING DIRECTOR FFIS 40.00 X 268319 0 52673 NICANOR DELACRUZ VP LENDING 40.00 X 161970 0 29374 EDWARD RUSH VP BUSINESS SERVICES 40.00 X 158718 0 52473 FRANK NORGAN VP INFORMATION SECURITY 40.00 X 157447 0 23362 WILLIAM TURPIN VP BRANCH OPERATIONS II 40.00 X 151331 0 47952 3652654 0 597753 33 0 1 0 ALKAMI TECHNOLOGY PO BOX 122223 DEPT 2223 DALLAS TX 75312 DATA PROCESSOR 748484 CARDTRONICS PO BOX 7411058 CHICAGO IL 60674 ATM MACHINE 577980 JACK HENRY AND ASSOCIATES INC PO BOX 609 MONETT MO 65708 DATA PROCESSING 562048 LENDKEY 104 W/ 27TH ST 4TH FLOOR NEW YORK NY 10001 LENDING ORIGINATION FEES 456431 AT&T PO BOX 5076 CAROL STREAM IL 60197 DATA/PHONE LINES 450287 40 LOANS TO MEMBERS 522100 48036379 48036379 FEES/CHARGES/OTHER 522100 14911621 14911621 62948000 10487052 10487052 110288 33721 76567 76567 76567 32337 30534 1803 1803 1803 FINANCE & INSURANCE 520000 406097 406097 406097 73919519 73513422 406097 0 X 3397486 10166569 972002 5858911 1153480 19571 74056 234720 1251382 1520310 3282795 2135432 75837 108974 22419710 1586811 302949 PROVISION FOR LOAN LOSS 7235968 PROFESSIONAL AND OUTSID 4215977 LOAN SERVICING 2109484 MISCELLANEOUS EXPENSES 912723 74831 69109978 4059750 3747342 78000656 68383774 12716438 14974157 3900000 3900000 876515610 947536013 2521444 2486625 48965674 16635680 29778942 32329994 329557431 282808775 8095300 8553500 285430 16595409 17728720 1362026410 1382448900 13662432 12767555 150000000 160000000 1064816287 1067581260 1228478719 1240348815 X 0 0 0 0 133547691 142100085 133547691 142100085 1362026410 1382448900 4809541 3742853 0 X X 0 1 X 1 0 10775651 10775651 28480080 8852756 19627324 139392 28250 111142 9570551 7754674 1815877 32329994 MEMBER SHARES 1067581260 1067581260 X 73953240 33721 33721 73919519 0 73919519 69143699 0 69143699 -33721 -33721 69109978 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. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES REPORTED NET OF RENTAL REVENUE IN THE STATEMENT OF REVENUE OF FORM 990 BUT REPORTED AS A COMPONENT OF EXPENSES WITHIN THE AUDITED FINANCIALS 33,721. PART XII, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES REPORTED NET OF RENTAL REVENUE IN THE STATEMENT OF REVENUE OF FORM 990 BUT REPORTED AS A COMPONENT OF EXPENSES WITHIN THE AUDITED FINANCIALS -33,721. X X 1 1 X X X 0 1 0 BRENT LISTER PRESIDENT/CEO 649978 0 249644 0 53058 0 31050 0 37990 0 1021720 0 0 0 JOSEPH CARPENTER CHIEF OPERATING OFFICER 299164 0 59234 0 17553 0 31050 0 42302 0 449303 0 0 0 BRADLEY A LONG EVP/CHIEF FINANCIAL OFFICER 299529 0 58956 0 11065 0 31050 0 42297 0 442897 0 0 0 CHRISTIAN BARNETT MANAGING DIRECTOR FFIS 249199 0 12884 0 6236 0 14504 0 38169 0 320992 0 0 0 TIMOTHY BROWN CHIEF TECHNOLOGY OFFICER 172792 0 35080 0 11413 0 17449 0 24873 0 261607 0 0 0 RICHARD MARKLEY CHIEF RETAIL OFFICER 174432 0 34837 0 11493 0 16951 0 17899 0 255612 0 0 0 ANGELA GARMAN CHIEF STRATEGY OFFICER 166625 0 30777 0 10346 0 13652 0 17821 0 239221 0 0 0 MICHELLE TROHA CHIEF MARKETING OFFICER 163844 0 31631 0 9971 0 19797 0 13306 0 238549 0 0 0 ANDREA HURLEY CHIEF RISK OFFICER 157250 0 31138 0 15059 0 18606 0 15826 0 237879 0 0 0 EDWARD RUSH VP BUSINESS SERVICES 130146 0 18890 0 9682 0 10981 0 41492 0 211191 0 0 0 WILLIAM TURPIN VP BRANCH OPERATIONS II 132529 0 18624 0 178 0 10342 0 37610 0 199283 0 0 0 NICANOR DELACRUZ VP LENDING 141747 0 18562 0 1661 0 13652 0 15722 0 191344 0 0 0 FRANK NORGAN VP INFORMATION SECURITY 136875 0 17037 0 3535 0 7566 0 15796 0 180809 0 0 0 PART I, LINE 1A PAID TRAVEL FOR SPOUSES ACCOMPANYING EMPLOYEES AND VOLUNTEERS. ANNUAL CLUB DUES ARE PAID FOR THE CEO. PART I, LINE 4B THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS TO THE PRESIDENT/CEO, BRENT LISTER THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." AT SPECIFIED TIMES, THE PARTICIPANT 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 PARTICIPANT. UPON THE PARTICIPANT'S DEATH THE CREDIT UNION RECOVERS ITS PREMIUMS PLUS INTEREST, PLUS KEY-PERSON INSURANCE PROCEEDS. BRENT LISTER PRESIDENT/CEO TO FUND SPLIT DOLLAR PLAN X 2730000 3900000 0 1 1 3900000 FORM 990, SCH L, PART II THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." ALTHOUGH THE IRS REQUIRES REPORTING IN PART II AS A LOAN TO AN INTERESTED PARTY, THIS IS NOT AN ACTUAL LOAN. THERE IS NO TRANSFER OF FUNDS TO THE PARTICIPANT NOR AN OBLIGATION TO REPAY THE FUNDS. INSTEAD 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. AT SPECIFIED TIMES, THE PARTICIPANT 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 VI, SECTION A, LINE 6 FIRST FLORIDA CREDIT UNION HAS MEMBERS. A $5.00 SHARE DEPOSIT IS REQUIRED FOR MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7A FIRST FLORIDA CREDIT UNION HAS A BOARD OF DIRECTORS ELECTION BY BALLOT HELD EVERY YEAR. EACH PRIMARY MEMBER OF THE CREDIT UNION RECEIVES A BALLOT FOR THE PURPOSE OF ELECTING ONE OR MORE MEMBERS FOR THE POSITION OF DIRECTOR OF THE BOARD. FORM 990, PART VI, SECTION A, LINE 7B THE CREDIT UNION FIELD OF MEMBERSHIP HAS AUTHORITY TO ELECT AND RE-ELECT THE BOARD OF DIRECTORS EVERY THREE YEARS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY A MEMBER OF THE CREDIT UNION MANAGEMENT TEAM (EVP/CHIEF FINANCIAL OFFICER) BEFORE IT IS FILED. IT IS NOT PRESENTED TO THE BOARD OF DIRECTORS FOR REVIEW BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE POLICIES OF FIRST FLORIDA CREDIT UNION ARE REVIEWED ON AN ANNUAL BASIS. EACH EMPLOYEE RECEIVES A COPY OF THE POLICY MANUAL UPON BEING HIRED AT FIRST FLORIDA CREDIT UNION. THE POLICY STATES THAT ALL EMPLOYEES AND OFFICIALS MUST DISCLOSE ANY POSSIBLE CONFLICTS (WHEN THE POSSIBLE CONFLICT ARISES) SO THAT THE CREDIT UNION MAY ASSESS AND PREVENT POTENTIAL CONFLICTS OF INTEREST FROM ARISING. ANY CHANGE IN THE POLICIES ARE COMMUNICATED TO THE EMPLOYEES VERBALLY AND UPDATES ARE RECEIVED IN HARD COPY FORM AS WELL. FORM 990, PART VI, SECTION B, LINE 15 FIRST FLORIDA CREDIT UNION'S BOARD OF DIRECTORS HAS AN ADMINISTRATIVE COMMITTEE THAT REVIEWS THE SALARIES OF ALL CREDIT UNION EMPLOYEES ON AN ANNUAL BASIS. INTERNALLY, THE HR DEPARTMENT REVIEWS AND RESEARCHES ALL SALARY RANGES FOR EACH EMPLOYEE JOB TITLE ANNUALLY. A THIRD PARTY RESEARCH FIRM IS CONTACTED FOR COMPARABLE REGION AND JOB TITLE DATA. FORM 990, PART VI, SECTION C, LINE 19 FIRST FLORIDA CREDIT UNION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTERST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 24E STAFF MANAGEMENT 74,831. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM PREVIOUS YEARS.