2016-08-10T14:09:36-07:00 2015-12-31 990 2015-01-01 590729366 STATE CHARTERED CREDIT UNIONS IN FLORIDA STAT 7274317311 PO Box 1500 Dunedin FL 34697 Dennis Holthaus CFO 7274317315 2016-08-10 2015 2016-12-15 16:53:06Z Achieva Credit Union Dennis Holthaus CFO PO Box 1500 Dunedin FL 34697 69414684 0 X www.achievacu.com X 1937 FL Not-for-profit organization, State Chartered Credit Union 10 10 507 10 147474 59970 0 0 57168302 64127802 3434355 3900520 2298182 1386362 62900839 69414684 15000 15000 0 0 21101003 23844117 0 0 0 29764941 33560796 50880944 57419913 12019895 11994771 1078175722 1356755896 958810819 1225768233 119364903 130987663 Not-for-profit organization, State Chartered Credit Union 0 0 57419913 15000 69414684 Credit Union Financial Services 0 0 0 57419913 0 0 0 0 0 0 0 1 0 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 32 0 1 507 1 1 1 0 0 0 0 0 X 10 10 0 0 1 0 1 1 0 1 1 0 1 1 0 1 1 1 1 1 1 1 0 FL X Dennis Holthaus 7274317315 PO Box 1500 Dunedin FL 34697 TD Hawkins Chairman, Board of Directors 0 0 X 0 0 0 Linda B Emanuel Vice Chairman, Board of Directors 0 0 X 0 0 0 Trellis Poe Secretary / Treasurer, Board of Directors 0 0 X 0 0 0 Tom Oberhofer Board Member 0 0 X 0 0 0 Mike Silvernail Board Member 0 0 X 0 0 0 Jack Berthy Board Member 0 0 X 0 0 0 Rohland Bryant Supervisory Committee Chairperson 0 0 X 0 0 0 Bill Williamson Board Member 0 0 X 0 0 0 James Dawson Board Member 0 0 X 0 0 0 Janet Cantees Board Member 0 0 X 0 0 0 Gary Regoli President & CEO 50 0 X X 764281 0 21200 Dennis Holthaus SVP / CFO 50 0 X X 310547 0 21271 Tara Murphy SVP Retail Sales and Service 50 0 X X 274313 0 20922 Scott McKim SVP / CLO 50 0.00 X X 243959 0 17682 John Wintermeier SVP, CIO 50 0 X X 253497 0 18644 Janet Till SVP People & Corporate Culture 50 0 X X 233041 0 17311 Lisa Smith SVP Risk Management 50 0 X X 205488 0 14446 Ken Rase VP Wealth Management 50 0 X 369888 0 17055 Steve Nordbeck VP Wealth Managment 50 0 X 341252 0 21447 Sara Depauw VP Indirect Lending 50 0 X 157777 0 9977 Victoria Prast VP Real Estate Lending 50 0 X 130255 0 10429 Horace Hackney Controller 50 0 X 125932 0 5300 3410230 0 195684 20 0 1 0 0 0 Loan Interest Income 522130 45052884 45052884 0 0 Fee Income 522130 8023203 8023203 0 0 Interchange Income 522130 8645810 8645810 0 0 Commission Income 522130 2405905 2337640 68265 0 64127802 2037964 2037964 0 0 0 0 0 0 0 0 0 0 85662 0 0 0 85662 0 85662 85662 0 0 35398 1827158 0 0 35398 1827158 1862556 1862556 0 0 ATM Surcharge 522130 79209 0 79209 0 Servicing Income 522130 807912 807912 0 0 Miscellaneous Income 522130 413579 413579 0 0 0 0 0 0 1300700 69414684 69267210 147474 0 15000 19309675 1159781 1997375 1377286 252525 165659 741604 2314367 1788369 4614961 2787645 193111 423627 3181315 350851 Dividend/Interest Expense 3829913 ATM/Debit Card Expense 4286150 Loan Processing Expense 817635 Provision Loan Losses 6036158 1776906 57419913 0 0 0 8424467 9474023 71691030 64872930 0 0 0 0 5000 20000 0 0 824860793 1095958395 0 0 1871549 1268553 80393511 25226667 47472874 55166844 47553140 28650060 0 0 0 0 20673578 29503690 55623291 71841401 1078175722 1356755896 13523759 27158964 0 0 0 887127 1317914 0 4000000 28000895 0 940399933 1169290460 958810819 1225768233 X 0 0 0 0 119364903 130987663 119364903 130987663 1078175722 1356755896 11994771 -372011 0 0 0 0 X 0 1 X 1 0 0 1 X 10805900 0 10805900 41648277 0 10542220 31106057 5826598 0 2335118 3491480 21597436 0 12349329 9248107 515300 0 0 515300 55166844 Member Deposit Insurance 10881627 Accrued Interest Investments 75137 Accrued Interest Loans 2876186 Deferred Compensation 8326171 Real Estate Owned 2285332 Annuities & 457b 34381665 FHLB Deposit Requirement 2309500 Corporate One Capital Shares 900000 Miscellaneous Other Receivables 770613 Other Assets 9035170 71841401 Member Deposit Accounts 1169290460 1169290460 69414684 0 0 0 0 0 69414684 0 0 0 69414684 57419913 0 0 0 0 0 57419913 0 0 0 57419913 Schedule D, Part IV, Line 2b Achieva Credit Union is a custodian for FNMA escrow and principal and interest payments to be remitted to FNMA. Achieva Credit Union also collects escrow payments for its first mortgage loans and in November of each year remits the annual taxes due for escrowed members as well as remitting insurance payments in the month they become due. 1 Scholarships 12 15000 0 Book Schedule I, Part I, Line 2 Scholarship funds are distributed annually to selected recipients. Qualified recipients must be active members of Achieva Credit Union with accounts in good standing, meet the educational specifications outlined in the scholarship applications, and cannot be previous Achieva Scholarship recipients. Achieva Credit Union's oversight comes by way of a committee of volunteers who will select the winners for each available scholarship based on qualification essay composition and community impact. Once these funds are disbursed to the winning recipients no further reports are required by Achieva Credit Union. X 0 0 0 Gary Regoli President & CEO 535669 0 225000 0 3612 0 21200 0 7461 0 792942 0 0 0 Dennis Holthaus SVP / CFO 236823 0 63056 0 10668 0 21271 0 7418 0 339236 0 0 0 Tara Murphy SVP Retail Sales and Service 214738 0 58315 0 1260 0 20922 0 4331 0 299566 0 0 0 Scott McKim SVP / CLO 193296 0 49403 0 1260 0 17682 0 9353 0 270994 0 0 0 Ken Rase VP Wealth Management 27759 0 342006 0 123 0 17055 0 6722 0 393665 0 0 0 Steve Nordbeck VP Wealth Managment 42082 0 298858 0 585 0 21447 0 7610 0 370582 0 0 0 John Wintermeier SVP, CIO 206071 0 46166 0 1260 0 18644 0 9121 0 281262 0 0 0 Janet Till SVP People & Corporate Culture 179599 0 47898 0 5544 0 17311 0 7295 0 257647 0 0 0 Lisa Smith SVP Risk Management 158797 0 44759 0 1932 0 14446 0 4017 0 223951 0 0 0 Victoria Prast VP Real Estate Lending 116795 0 9100 0 4360 0 10429 0 2509 0 143193 0 0 0 Sara Depauw VP Indirect Lending 118972 0 37094 0 1711 0 9977 0 8246 0 176000 0 0 0 Horace Hackney Controller 119986 0 4350 0 1596 0 5300 0 9272 0 140504 0 0 0 Schedule J, Part I, Line 3 The CEO's compensation is established by a review of compensation survey information and is approved by the Board of Directors and the Compensation Committee. The CEO engages an independent third party to perform a salary survey for Senior Management Team members. The CEO uses the survey data to determine each Team Member's compensation. Form 990, Part VI, Section A, Line 4 During the year DeSoto County was added to the credit union's field of membership. Form 990, Part VI, Section A, Line 6 We have members and our current field of membership is as follows: Membership in Achieva Credit Union is limited to individuals, trusts, associations, organizations, and legal entities residing or employed in Pinellas, Pasco, Hernando, Desoto, Manatee, Sarasota, Charlotte, Lee, Collier, and Hillsborough Counties and immediate family members of such defined to include parents children spouse or surviving spouse of the member or any other relative by blood marriage or adoption even though such individuals do not reside in the same household with the member and associations and organizations of such persons and employees of these associations and organizations. Additionally persons that have contributed at least ten dollars to the Achieva Foundation are eligible for membership regardless of where they reside. Form 990, Part VI, Section A, Line 7a The Board of Directors Nominating Committee is structured for the purpose of selecting and maintaining effective Directors. The Board of Directors Nominating Committee is organized at the Annual Meeting for each election year and serves throughout the year until a recommended slate of Directors are presented to the Board of Directors at the following Annual Meeting. The committee includes three Directors who are not candidates for re-election that year. Membership in the committee rotates annually using an established schedule so that each Director (regardless of office) will serve one time during each three year period. The committee recommends to the Board of Directors a chairperson, vice-chairperson and secretary/treasurer following the annual meeting at which directors are elected and takes into consideration performance requirements and attendance information in its review of candidates for re-election. Form 990, Part VI, Section B, Line 11b This return is prepared by subject matter experts, and reviewed by the Accounting Controller and Chief Financial Officer of Achieva Credit Union. The completed 990 was compared to the published financial reports for accuracy, and to the prior year's return for reasonableness. Form 990, Part VI, Section B, Line 12c All volunteers are required to sign an agreement stating that they will not knowingly take any action or make any statement intended to influence the conduct of Achieva Credit Union in such a way to confer any financial benefit on such volunteers, their immediate family members or any organization in which they or their family members have a personal interest. Board members are required to disclose any potential conflict of interest and any action that comes before the Board of Directors and withdraw from the meeting room during discussion, review, and voting in connection with the matter. The disclosure is recorded in the minutes of the meeting. Annual disclosures of potential conflicts are filed by the Board of Directors to ensure compliance with our conflict of interest policy, and the internal auditor conducts an annual review of the officials in accordance with statute 657.039 part 1. Form 990, Part VI, Section B, Line 15 A salary survey and review and approval by the Board of Directors and Compensation Committee were completed in 2014 to determine the compensation for the CEO. The CEO engages an independent third party to perform a salary survey for Senior Management Team members. The CEO uses the survey data to determine each Team member's compensation. Form 990, Part VI, Section C, Line 19 Monthly financial statements are posted in the lobbies of our branches, and annual financial reports are provided at our annual member meeting and are also available upon request. The conflict of interest policy and governing documents are not made available to the general public.