2015-05-14T14:13:29-05:00 2014-12-31 410746749 CLIFTONLARSONALLEN LLP PO BOX 217 AUSTIN MN 55912 990 2014-01-01 590227113 COMMUNITY FIRST CREDIT UNION OF FLORIDA COMM 9043717987 637 NORTH LEE STREET JACKSONVILLE FL 32204 SAM INMAN CFO 9043718080 2015-05-14 1 TANYA MEDGAARDEN P01717240 5074347000 2014 2016-02-25 16:41:14Z JOHN HIRABAYASHI 637 NORTH LEE STREET JACKSONVILLE FL 32204 68717724 0 2106 X WWW.COMMUNITYFIRSTFL.ORG X CU 1935 FL COMMUNITY FIRST CREDIT UNION OF FLORIDA'S MISSION IS TO PROVIDE THE HIGHEST IN QUALITY FINANCIAL SOLUTIONS FOR EVERY STAGE OF LIFE. 9 9 350 13 204793 -238685 0 0 59731293 59128039 4795504 5059974 -8351 -1959 64518446 64186054 0 55513 5662384 5395058 16688020 17763551 0 0 0 26026260 24856770 48376664 48070892 16141782 16115162 1221185563 1252383744 1087631447 1099900826 133554116 152482918 COMMUNITY FIRST CREDIT UNION OF FLORIDA'S MISSION IS TO PROVIDE THE HIGHEST IN QUALITY FINANCIAL SOLUTIONS FOR EVERY STAGE OF LIFE. 0 0 INCOME FROM THE CREDIT UNION MEMBERSHIP AND FROM THE INVESTMENT OF MEMBERS' FUNDS PROVIDE THE BASIS FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP. THE CREDIT UNION OFFERS A VARIETY OF FINANCIAL PRODUCTS INCLUDING MORTGAGE, AUTOMOBILE, CREDIT CARDS AND PERSONAL SIGNATURE LOANS. $374,690,605 IN NEW LOANS WERE ORIGINATED DURING 2014 AND MORE THAN $748,674,285 IN LOAN BALANCES WERE SERVICED DURING 2014. MEMBERS MAY CHOOSE FROM A NUMBER OF ACCOUNT TYPES INCLUDING REGULAR SHARES, CHECKING, MONEY MARKET, AND RETIREMENT ACCOUNTS. $1,081,249,648 IN DEPOSIT ACCOUNTS WERE MAINTAINED FOR 108,746 MEMBERS DURING 2014. 0 0 1 0 0 0 0 1 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 37883 0 1 350 1 1 1 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X PAULA BASIHAN 9043717921 637 NORTH LEE STREET JACKSONVILLE FL 32204 BETTIE ADAMS VICE CHAIRMAN 1.00 X 0 0 0 MARSHA COARSEY DIRECTOR 1.00 X 0 0 0 BRUCE DOUECK DIRECTOR 1.00 X 0 0 0 SCOTT BENNETT DIRECTOR 1.00 X 0 0 0 SANDRA MCCRACKEN DIRECTOR 1.00 X 0 0 0 ELLEN PAIGE TREASURER 1.00 X 0 0 0 WILLIAM PERMENTER CHAIRMAN 1.00 X 0 0 0 BRENDA SIMMONS DIRECTOR 1.00 X 0 0 0 ELVIA WILLIAMS SECRETARY 1.00 X 0 0 0 JOHN HIRABAYASHI CEO/PRESIDENT 40.00 X 581072 0 63342 SAM INMAN CFO 40.00 X 257603 0 62401 MIKE TOMKO SENIOR VICE PRESIDENT 40.00 X 216292 0 35244 ROGER RASSMAN VICE PRESIDENT 40.00 X 157891 0 16218 SUSAN VERBECK SENIOR VICE PRESIDENT 40.00 X 175922 0 23082 MARK FITZMORRIS FINANCIAL ADVISOR 40.00 X 308976 0 29517 NATE HERRING VP BUSINESS LENDING 40.00 X 101305 0 5426 MARLENE SCOTT AVP ELEC SVCS,REC MGMT,LOSS PREV & BSA 40.00 X 131604 0 12957 ANDY WHITAKER INVESTMENT SERVICE REPRESENTATIVE 40.00 X 126795 0 19219 TIM SIMPSON VICE PRESIDENT 40.00 X 141282 0 20140 2198742 0 287546 18 0 1 0 CENLAR 425 PHILLIPS BLVD EWING NJ 08618 LOAN SUB SERVICER 1911821 PSCU 560 CARILLON PARKWAY ST PETERSBURG FL 33716 CREDIT CARD PROCESSOR 1760534 FISERV PO BOX 5037-263 PORTLAND OR 97208 ATM & DEBIT CARD PROCESSOR 1593659 AXIS DATA SOLUTIONS 6851 TPC DRIVE ORLANDO FL 32822 PRINT & MAIL SERVICE 710349 JACK HENRY & ASSOCIATES PO BOX 609 MONETT MO 65708 LOAN & DEPOSIT CORE SYSTEM SOFTWARE PROV 671988 42 LOAN INTEREST 900099 36392964 36392964 OTHER OPERATING INCOME 900001 11866497 11866497 FEES AND CHARGES 522100 10868578 10661826 206752 59128039 5092650 5092650 1018 4497976 0 4531670 1018 -33694 -32676 -32676 K-1 LOSS - MEMBERS DEVEOPMENT COM 900099 -827 -827 K-1 LOSS - THE CYPRESS GROUP LLC 900099 -1132 -1132 -1959 64186054 58921287 204793 5059974 55513 5395058 1589065 12789235 1004736 1214193 1166322 189891 103360 2448458 2447379 145576 1861546 75924 377502 2025872 310909 OTHER PROFESSIONAL FEES 6335266 LOAN SERVICING EXPENSE 4615188 PROVISION FOR LOAN LOSS 3505906 ALL OTHER EXPENSES 222836 191157 48070892 13630593 14082759 66358943 59609865 674686468 748674285 1423149 1819449 45983744 17868291 29586696 28115453 399985849 366473492 35513865 33608441 1221185563 1252383744 17032086 16871618 1817000 1830000 1068782361 1081199208 1087631447 1099900826 X 0 0 0 0 133554116 152482918 133554116 152482918 1221185563 1252383744 X 16115162 2815267 -1627 X X 0 1 X 1 0 FLORIDA CREDIT UNION POLITICAL ACTION COMMITTEE PO BOX 3108 TALLAHASSEE FL 32315 591889104 6000 FORM 990, SCHEDULE C, PART 1-C LINE 5 ALL POLITICAL CONTRIBUTIONS WERE MADE TO THE FLORIDA CREDIT UNION POLITICAL ACTION COMMITTEE (CUPAC) AND TOTALED $6,000. ALL OF THE FUNDS CONTRIBUTED WERE RECEIVED FROM MEMBERS, VOLUNTEERS, AND EMPLOYEES. 0 1 X 13137313 13137313 18973318 7561523 11411795 1074381 915074 159307 12727470 9391694 3335776 71262 71262 28115453 SECURITIES - AFS 362874098 F OTHER INVESTMENTS 3599394 C 366473492 MEMBERS SHARE AND SAVINGS ACCOUNTS 1081199208 1081199208 X PART IV, LINE 2B: FANNIE MAE CUSTODIAL ACCOUNTS - THE CREDIT UNION HAS MAINTAINED SERVICING FOR LOANS SOLD IN THE SECONDARY MARKET. THE CREDIT UNION COLLECTS PRINCIPAL, INTEREST AND ESCROW PAYMENTS FOR SOLD MORTGAGE LOANS. PAYMENTS ARE PASSED THROUGH TO FANNIE MAE AT CERTAIN INTERVALS. PART X, LINE 2: THE CREDIT UNION IS EXEMPT, UNDER IRC 501(C)(14), FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION HAS FILED TAX RETURNS FOR ACTIVITIES THEY HAVE DEEMED TAXABLE AND HAS A NET OPERATING LOSS CARRYFORWARD AS OF THE 2013 CALENDAR YEAR. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES AND INTEREST FOR ANY YEARS FOR WHICH NO RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2014 AND 2013. WITH FEW EXCEPTIONS, THE CREDIT UNION IS NO LONGER SUBJECT TO EXAMINATIONS BY FEDERAL AND STATE TAXING AUTHORITIES FOR YEARS BEFORE 2011. 1 COMMUNITY FIRST CARES FOUNDATION 637 NORTH LEE STREET JACKSONVILLE FL 32204 461535651 501(C)(3) 55513 TO PROVIDE FINANCIAL SUPPORT TO THE FOUNDATION TO FULFILL ITS EXEMPT PURPOSE TO PROMOTE AND PROVIDE CHARITABLE GIVING AND COMMUNITY INVESTMENT IN THE AREAS SERVED BY THE CREDIT UNION. 1 PART I, LINE 2: THE CEO AND CFO OF THE CREDIT UNION ARE ALSO ON THE BOARD OF THE FOUNDATION AND MONITOR THE USE OF GRANT FUNDS. X 1 1 X X X X X 0 1 0 JOHN HIRABAYASHI CEO/PRESIDENT 456439 0 79580 0 45053 0 7800 0 55542 0 644414 0 0 0 SAM INMAN CFO 205990 0 30069 0 21544 0 6871 0 55530 0 320004 0 0 0 MIKE TOMKO SENIOR VICE PRESIDENT 188655 0 26451 0 1186 0 6295 0 28949 0 251536 0 0 0 ROGER RASSMAN VICE PRESIDENT 143569 0 13584 0 738 0 2462 0 13756 0 174109 0 0 0 SUSAN VERBECK SENIOR VICE PRESIDENT 152491 0 16261 0 7170 0 2736 0 20346 0 199004 0 0 0 MARK FITZMORRIS FINANCIAL ADVISOR 308976 0 0 0 0 0 7800 0 21717 0 338493 0 0 0 TIM SIMPSON VICE PRESIDENT 123185 0 4255 0 13842 0 3611 0 16529 0 161422 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANION - BETTIE ADAMS - $1,409 TRAVEL FOR COMAPNION - WILLIAM PERMENTER - $1,985 TRAVEL FOR COMPANION - BRUCE DOUECK - $1,869 TRAVEL FOR COMPANION - BRENDA SIMMMONS - $2,688 TRAVEL FOR COMPANION - ELLEN PAIGE - $685 TRAVEL FOR COMPANION - ELVIA WILLIAMS - $1,913 TRAVEL FOR COMPANION - MARSHA COARSEY - $1,060 PART I, LINE 4B PART I, LINE 4B: JOHN HIRABAYASHI - PARTICIPATED-NO DISTRIBUTIONS PART I, LINE 4B: SAM INMAN - PARTICIPATED-NO DISTRIBUTIONS PART I, LINE 4B: MIKE TOMKO - PARTICIPATED-NO DISTRIBUTIONS PART I, LINE 4B: SUSAN VERBECK - PARTICIPATED-NO DISTRIBUTIONS FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS MEMBERS. MEMBERSHIP IN THE CREDIT UNION IS COMPOSED OF THOSE WHO LIVE, WORK, OR GO TO SCHOOL IN BAKER, CLAY, DUVAL, FLAGLER, NASSAU, PUTNAM AND ST JOHNS COUNTIES IN FLORIDA, AND OTHER SELECT EMPLOYEE GROUPS WHO HAVE PETITIONED FOR MEMBERSHIP. IN ADDITION TO A REGULARLY QUALIFIED MEMBER, THE SPOUSE OF A MEMBER, THE BLOOD OR ADOPTIVE RELATIVES OF EITHER OF THEM AND THEIR SPOUSES MAY BE 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 THE FOLLOWING GOVERNANCE DECISIONS REQUIRE MEMBER APPROVAL: VOLUNTARY LIQUIDATION - MAJORITY VOTE OF MEMBERS VOTING FOLLOWING BOARD MAJORITY APPROVAL AND FEDERAL AND STATE REGULATORS' APPROVAL; MERGER WITH ANOTHER CREDIT UNION - MAJORITY VOTE OF MEMBERS VOTING FOLLOWING BOARD MAJORITY APPROVAL AND FEDERAL AND STATE REGULATORS' APPROVAL; CONVERSION FROM STATE CREDIT UNION CHARTER TO FEDERAL CREDIT UNION CHARTER - MAJORITY VOTE OF MEMBERS VOTING FOLLOWING BOARD MAJORITY APPROVAL AND FEDERAL AND STATE REGULATORS' APPROVAL; CONVERSION TO ANOTHER FINANCIAL INSTITUTION TYPE CHARTER - MAJORITY VOTE OF ALL MEMBERS ELIGIBLE TO VOTE FOLLOWING BOARD MAJORITY APPROVAL AND FEDERAL AND STATE REGULATORS' APPROVAL; MERGER WITH A BANK - MAJORITY VOTE OF MEMBERS VOTING (WITH 20% MINIMUM ELIGIBLE MEMBER VOTING REQUIREMENT) FOLLOWING BOARD MAJORITY APPROVAL AND FEDERAL AND STATE REGULATORS' APPROVAL; ELECTION OF BOARD - MAJORITY VOTE OF MEMBERS VOTING. FOR ALL OF THE ABOVE DECISIONS, THERE IS A SINGLE CLASS OF MEMBERS WITH EACH MEMBER ENTITLED TO A SINGLE VOTE REGARDLESS OF THE NUMBER OF SHARES IN THE CREDIT UNION. FORM 990, PART VI, SECTION B, LINE 11 THE CONTROLLER IS RESPONSIBLE FOR THE PREPARATION OF THE RETURN. UPON COMPLETION, THE RETURN IS REVIEWED BY THE CEO AND CFO. ONCE ALL PARTIES HAVE COMPLETED THEIR REVIEW AND ANY NECESSARY CORRECTIONS HAVE BEEN MADE, THE RETURN IS FILED AND A COPY OF THE RETURN WILL BE MADE AVAILABLE UPON REQUEST. THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS SHALL REVIEW THE FORM 990 SUBSEQUENT TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS, MANAGEMENT AND STAFF ARE COVERED BY THE CONFLICTS OF INTEREST POLICY. IT IS REVIEWED ANNUALLY. ACTUAL OR POTENTIAL CONFLICTS OF INTEREST WOULD BE INVESTIGATED BY INTERNAL AUDIT OR LOSS PREVENTION DEPARTMENTS. APPROPRIATE ACTIONS UP TO AND INCLUDING LIMITING TRANSACTION CAPABILITIES OR PROHIBITING PERSONS WITH A CONFLICT TO PARTICIPATE IN GOVERNING ACTIVITIES SUCH AS DELIBERATIONS OR VOTES WHERE CONFLICTS EXIST WOULD BE IMPOSED. FORM 990, PART VI, SECTION B, LINE 15 THE REVIEW OF THE CEO'S COMPENSATION IS A FUNCTION OF THE BOARD OF DIRECTORS. ANNUALLY, THE BOARD USES AN EXECUTIVE COMPENSATION SURVEY FROM AN INDEPENDENT THIRD PARTY TO DETERMINE THE CEO'S COMPENSATION. FOR ALL OTHER POSITIONS IN THE ORGANIZATION, PAY RANGES ARE REVIEWED ON AN ANNUAL BASIS UTILIZING DATA FROM AN INDEPENDENT COMPENSATION STUDY. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, THE CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS WILL BE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. THE CREDIT UNION'S QUARTERLY FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC VIEWING ON THE NCUA.GOV WEBSITE VIA THE 5300 FILING. ADDITIONALLY, THE CREDIT UNION'S ANNUAL REPORT IS AVAILABLE FOR PUBLIC VIEWING VIA THE CREDIT UNION'S WEBSITE. FORM 990, PART XI, LINE 9: K-1 LOSS - THE CYPRESS GROUP LLC 1,132. K-1 LOSS - MEMBERS DEVELOPMENT COMPANY, LLC 827. ADJUSTMENT TO UNDIVIDED EARNINGS TO ELIMINATE INTERCOMPANY TRANSACTIONS -3,586. FORM 990, PART XII, LINE 2C THE PROCESS USED BY THE COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNT HAS NOT CHANGED SINCE LAST YEAR. COMMUNITY FIRST CARES FOUNDATION 637 NORTH LEE STREET JACKSONVILLE FL 32204 461535651 TO IMPROVE FINANCIAL LITERACY FL 501(C)(3) LINE 8 COMMUNITY FIRST CREDIT UNION OF FLORIDA 1 EDCO FINANCIAL SERVICES INC 637 NORTH LEE STREET JACKSONVILLE FL 32204 593282020 FINANCIAL SERVICES - INACTIVE FL COMMUNITY FIRST CREDIT UNION OF FLORIDA C 1000 1.00000 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 COMMUNITY FIRST CARES FOUNDATION B 55513 ACTUAL AMOUNT