2016-07-13T15:40:04-05:00 2015-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2015-01-01 590642953 FIRST COAST COMMUNITY CREDIT UNION FIRS 3863285555 306 S PALM AVENUE PALATKA FL 32177 GRETCHEN LUNSFORD CEO 3863285555 2016-07-13 1 DOUGLAS J ORTH P01076394 3052328272 2015 2016-09-27 15:27:22Z GRETCHEN LUNSFORD 306 SOUTH PALM AVENUE PALATKA FL 32177 5023569 0 2106 X WWW.FIRSTCOAST.COM X 1948 FL DELIVERING DREAMS THROUGH SIMPLIFIED FINANCIAL SERVICES. 7 7 37 8 19236 -35837 0 0 4193490 4104095 467037 513377 0 0 4660527 4617472 0 0 0 0 1736031 1729969 0 0 0 2606736 2419131 4342767 4149100 317760 468372 102970359 108713389 90982373 96257031 11987986 12456358 DELIVERING DREAMS THROUGH SIMPLIFIED FINANCIAL SERVICES. 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 1 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 2030 0 1 37 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X GRETCHEN LUNSFORD 3863285555 306 SOUTH PALM AVENUE PALATKA FL 32177 JAMES NORWOOD JR CHAIRMAN 1.00 X 0 0 0 RUDY HOWARD BOD MEMBER 1.00 X 0 0 0 CANDY RIGDON BOD MEMBER 1.00 X 0 0 0 CATHY MERRITT BOD MEMBER 1.00 X 0 0 0 MARTHA SINGLETON BOD MEMBER 1.00 X 0 0 0 LINDA OSBORNE BOD MEMBER 1.00 X 0 0 0 BETTY POTEET BOD MEMBER 1.00 X 0 0 0 MATT REYNOLDS AUDIT COMMITTEE 1.00 X 0 0 0 GRETCHEN LUNSFORD CEO 40.00 X 188558 0 33073 SANDRA PREVATT EVP OPERATIONS 40.00 X 124515 0 30516 313073 0 63589 2 0 1 0 JACK HENRY PO BOX 65708 MONETT MO 65708 SOFTWARE SUPPORT & DATA PROCESSING 288012 WESCOM RESOURCES GROUP LLC 5601 E LA PALMA AVE ANAHEIM CA 92807 DATA PROCESSING 192543 KRG PALM COAST LANDING LLC 15961 COLLECTIONS CENTER DRIVE CHICAGO IL 60693 LAND LEASE & TAXES 105190 3 INCOME FROM LOANS 522100 2814336 2814336 FEES/CHARGES/OTHER 522100 1270523 1270523 UNRELATED BUSINESS INC 900099 19236 19236 4104095 549190 549190 370284 406097 -35813 -35813 -35813 4617472 4598236 19236 0 376662 376662 915584 915584 80920 80920 258606 258606 98197 98197 21281 21281 314401 314401 2000 2000 51490 51490 300570 300570 331836 331836 239419 239419 50330 50330 284358 284358 201468 201468 71572 71572 LOAN SERVICING 242393 242393 MAINTENANCE AND REPAIRS 165453 165453 PROVISION FOR LOAN LOSS 80217 80217 MERGER EXPENSE 26064 26064 36279 36279 4149100 4149100 0 0 1885854 1885444 11213432 20844822 706655 227966 38913841 40394596 138730 136221 5827418 2946677 2963768 2880741 3250149 2750000 40314976 36230976 2071379 2029276 1511575 1333347 102970359 108713389 860650 815988 90121723 95441043 90982373 96257031 X 0 0 0 0 11987986 12456358 11987986 12456358 102970359 108713389 468372 0 X 0 1 X 1 0 269937 269937 3703463 1246312 2457151 1854018 1700365 153653 2880741 CERTIFICATES OF DEPOSIT 35346000 C CORPORATE ONE PCC PARTNER 884976 C 36230976 MEMBER DEPOSITS - SHARES 44577594 MEMBER DEPOSITS - CHECKING 16423522 MEMBER DEPOSITS - MONEY MARKET 2361001 MEMBER DEPOSITS - IRA 6301535 MEMBER DEPOSITS - CERTIFICATE OF DEPOSIT 5800515 MEMBER DEPOSITS - IRA CERTIFICATES 14987396 MEMBER DEPOSITS - OTHER 4989480 95441043 X 4617472 0 4617472 0 4617472 4149100 0 4149100 0 4149100 PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE TAX LAWS. 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 (TAMS) TO SPECIFIC STATE-CHARTERED 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 STATEMENTS. ADDITIONALLY, NO INTEREST AND PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING 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 0 0 0 GRETCHEN LUNSFORD CEO 171058 0 0 0 17500 0 10000 0 23073 0 221631 0 0 0 SANDRA PREVATT EVP OPERATIONS 107015 0 0 0 17500 0 10000 0 20516 0 155031 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERSHIP CAN VOTE ON BOARD SEATS IF A BOARD MEMBER IS NOT SAT BY ACCLAMATION. 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 INITIAL REVIEW OF THE FORM 990 IS DONE BY SANDRA PREVATT, EVP OPERATIONS. IT IS THEN SUBMITTED TO THE CEO, GRETCHEN LUNSFORD, FOR FINAL REVIEW AND APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C THE EXECUTIVE VP OF OPERATIONS, UNDER THE DIRECTION OF THE PRESIDENT/CEO MONITORS COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY FOR FIRST COAST COMMUNITY CREDIT UNION. THIS INCLUDES VENDOR MANAGEMENT, EMPLOYEE TRAINING AND MONITORING OF EMPLOYEE TRANSACTIONS. ALL NEW EMPLOYEES ARE GIVEN A CONFLICT OF INTEREST POLICY AS PART OF THE CODE OF CONDUCT. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE CEO IS SUBJECT TO A BOARD REVIEW ANNUALLY AND IS BASED ON AN EXECUTIVE COMPENSATION SURVEY FROM AN INDEPENDENT THIRD PARTY. THE SALARIES OF OTHER OFFICERS AND EMPLOYEES ARE DETERMINED BY UTILIZING THE CUNA MUTUAL GROUP SALARY SURVEY BASED ON CREDIT UNION ASSET SIZE. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT MADE AVAILABLE TO THE PUBLIC. FINANCIAL STATEMENTS ARE MADE AVAILABLE ON THE NCUA'S WEBSITE VIA THE 5300 FILING.