2016-08-09T10:14:31-05:00 2015-12-31 420714325 RSM US LLP 310 BROADWAY AVENUE S SUITE 300 ROCHESTER MN 55904 990 2015-01-01 590637653 TROPICAL FINANCIAL CREDIT UNION TROP 8882618328 3050 CORPORATE WAY MIRAMAR FL 33025 RICH HELBER CEO 8882618328 2016-07-19 1 DANIEL W EDWARDS P00043974 5072886476 2015 2016-12-15 16:53:06Z RICH HELBER 3050 CORPORATE WAY MIRAMAR FL 33025 29878163 0 2106 X WWW.TROPICALFCU.ORG X CREDIT UNION 1935 FL TROPICAL FINANCIAL CREDIT UNION IS A NOT FOR PROFIT FINANCIAL COOPERATIVE, (CONTINUED ON SCH. O) PROVIDING MEMBER OWNERS WITH VALUABLE PRODUCTS, SERVICES AND EDUCATION TO HELP THEM ACHIEVE THEIR GOALS. 9 9 161 9 331081 -300841 0 0 27663485 27341282 1464013 1189579 770513 1347302 29898011 29878163 0 0 0 0 11933210 11804669 0 0 0 14168989 14075445 26102199 25880114 3795812 3998049 546930692 587455026 501666032 537173949 45264660 50281077 TROPICAL FINANCIAL CREDIT UNION IS A NOT FOR PROFIT FINANCIAL COOPERATIVE, PROVIDING MEMBER OWNERS WITH VALUABLE PRODUCTS, SERVICES AND EDUCATION TO HELP THEM ACHIEVE THEIR GOALS. 0 0 25880114 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. 25880114 0 0 1 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 12298 0 1 161 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 FL X RICH HELBER 8882618328 3050 CORPORATE WAY MIRAMAR FL 33025 MC MARTINEZ BOD/TRUSTEE 1.00 X 0 0 0 BN DIAMOND BOD/AUDIT COMMITTEE 1.00 X 0 0 0 HP GEER BOD/AUDIT COMMITTEE 1.00 X 0 0 0 ML REYES BOD/AUDIT COMMITTEE 1.00 X 0 0 0 JM DONOHUE BOD 1.00 X 0 0 0 RP WISNIEWKI BOD 1.00 X 0 0 0 BK CRUIT BOD/VICE CHAIRMAN 1.00 X 0 0 0 M PEREZ BOD/SECRETARY/TREASURER 1.00 X 0 0 0 JL BELAUSTEGUI BOD/CHAIRMAN/TRUSTEE 1.00 X 0 0 0 RW HELBER CEO 40.00 X 337908 0 18953 R SHAW CFO 40.00 X 80510 0 12791 B BURRESS VP RETAIL SALES AND SERVIC 40.00 X 138606 0 9383 A GOENAGA VP/ADMIN SERVICES 40.00 X 132014 0 20321 H MCGIFFIN SVP/CLO 40.00 X 194525 0 6074 E JIMENEZ VP/HR 40.00 X 129689 0 15761 A LEAHY-MCGRAW VP MARKETING 40.00 X 117329 0 15876 1130581 0 99159 6 0 1 0 FISERV 4575 SW RESEARCH WAY CORVALLIS OR 97339 CORE SYSTEM/SOFTWARE 1689196 AETNA PO BOX 532424 CHARLOTTE NC 28290 MEDICAL INSURANCE 1234814 DIGITAL INSIGHT PO BOX 515306 LOS ANGELES CA 900516606 ELECTRONIC BANKING SERVICE PROVIDER 759228 SUNBEAM DEVELOPMENT CORPORATION 1401 79TH STREET CAUSEWAY MIAMI FL 33141 HD MPOC BRANCH LEASE 635100 AT&T PO BOX 105503 ATLANTA GA 303485503 TELEPHONE/COMMUNICATIONS 632206 27 INCOME ON LOANS 522100 18088306 18088306 CHARGES/FEES/OTHER 522100 8921895 8921895 UNRELATED BUSINESS INCOME 900099 331081 331081 27341282 1189579 1189579 OTHER GAINS ON DISPOSITION OF LOA 522100 1347302 1347302 1347302 29878163 29547082 331081 0 450162 450162 8917209 8917209 713168 713168 999873 999873 724257 724257 212798 212798 157468 157468 1093061 1093061 539309 539309 2905720 2905720 2206397 2206397 332205 332205 1975 1975 1528254 1528254 1201117 1201117 194955 194955 ATM EXPENSE 1226126 1226126 MORTGAGE LOAN SERVICING 1178014 1178014 VISA & DEBIT CARD CHARG 461456 461456 BANK CHARGES 276776 276776 559814 559814 25880114 25880114 0 0 5094882 6484789 32270662 89997057 2466479 2335786 413429073 404311722 1040521 1143437 29327707 17730832 11872530 11596875 69298736 58427962 545708 545708 10912101 12611690 546930692 587455026 9732731 8856338 491933301 528317611 501666032 537173949 X 0 0 0 0 45264660 50281077 45264660 50281077 546930692 587455026 X 3998049 310978 707390 X X 0 1 X 1 0 14130 14130 14130 0 LEAGUE OF SOUTHEASTERN CREDIT UNIONS - BROWARD CHAPTER 3692 COOLIDGE COURT TALLAHASSEE FL 32311 263100475 14130 5550188 5550188 6178678 1609146 4569532 4139890 3827552 312338 13395960 12239573 1156387 62991 54561 8430 11596875 MEMBER DEPOSITS - SHARE DRAFTS 119271508 MEMBER DEPOSITS - PREMIER 1 CHECKING 14431126 MEMBER DEPOSITS - MONEY MARKET ACCOUNT 82886475 MEMBER DEPOSITS - SHARES 209420691 MEMBER DEPOSITS - IRA SHARES 12324824 MEMBER DEPOSITS - SHARE & IRA CERTIFICATES 89982987 528317611 X 29878163 0 29878163 0 29878163 25880114 0 25880114 0 25880114 PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES. 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 THE 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 PURPOSE. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON UNRELATED BUSINESS INCOME (UBI) DERIVED BY STATE-CHARTERED CREDIT UNIONS. BEGINNING IN MARCH 2008, THE INTERNAL REVENUE SERVICE (IRS) RELEASED TECHNICAL ADVICE MEMORANDUMS (TAMS) TO SPECIFIC STATE-CHARTED CREDIT UNIONS SPECIFYING THE REVENUE SOURCES SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). 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 FINANCIAL STATEMENT 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 YEARS OPEN FOR EXAMINATION BY THE IRS. X 1 1 X X X X X 0 0 0 RW HELBER CEO 293169 0 38239 0 6500 0 5200 0 13753 0 356861 0 0 0 A GOENAGA VP/ADMIN SERVICES 128832 0 3182 0 0 0 2823 0 17498 0 152335 0 0 0 H MCGIFFIN SVP/CLO 185888 0 8637 0 0 0 0 0 6074 0 200599 0 0 0 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. 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 FORM 990 WILL BE REVIEWED BY THE VP OF FINANCE AND CFO IF ANY QUESTIONS, THE VP OF FINANCE/CFO WILL THEN DISCUSS WITH THE CPA FIRM. THE FORM 990 WILL BE PRESENTED TO THE BOARD OF DIRECTORS FOR INFORMATIONAL PURPOSES ONLY SUBSEQUENT TO THE FORM BEING FILED THIS WILL BE RECORDED IN THE BOARD MINUTES. FORM 990, PART VI, SECTION B, LINE 12C THE POLICY REQUIRES REVIEW AND SIGNED ACKNOWLEDGEMENT ANNUALLY. THE EMPLOYEES ARE PRESENTED WITH THE HR POLICY ANNUALLY WHICH THEY SIGN ACKNOWLEDGING THAT THEY RECEIVED THE POLICY MANUAL AND THAT THEY WILL FOLLOW THE POLICIES. FORM 990, PART VI, SECTION B, LINE 15 THE REVIEW OF THE CEOS COMPENSATION IS A FUNCTION OF THE BOARD OF DIRECTORS, WITH THE ASSISTANCE OF THE VICE PRESIDENT OF HUMAN RESOURCES AND ORGANIZATION DEVELOPMENT. THE BOARD USES AN EXECUTIVE COMPENSATION SURVEY FROM AN INDEPENDENT THIRD PARTY ON A PERIODIC BASIS TO DETERMINE THE CEOS COMPENSATION AND A SEPERATE THIRD PARTY STUDY IS USED FOR ALL OTHER POSITIONS IN THE ORGANIZATION. JOB GRADES AND PAY RANGES ARE ESTABLISHED THROUGH THE ASSISTANCE OF AN EXTERNAL THIRD PARTY VENDOR WITH SPECIALIZED EXPERTISE IN THIS AREA, AND MAINTAINED BY THE OFFICE OF HUMAN RESOURCES. THIS COMPENSATION SYSTEM IS REVIEWED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S CONFLICT OF INTEREST POLICY IS NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S FINANCIALS ARE AVAILABLE FOR PUBLIC VIEWING ON THE NCUA.GOV VIA THE QUARTERLY 5300 FILING. FORM 990, PART XI, LINE 9: PENSION PLAN LOSSES 271,441. POST-RETIREMENT PLAN LOSSES 435,949. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM PREVIOUS YEARS.