2025-11-17T14:18:47-06:00 2024-12-31 410746749 CLIFTONLARSONALLEN LLP 109 N MAIN STREET SUITE 200 AUSTIN MN 55912 990 2024-01-01 590227113 COMMUNITY FIRST CREDIT UNION OF FLORIDA COMM 9043548537 637 NORTH LEE STREET JACKSONVILLE FL 32204 KIM GAMEZ CFO 9043718080 2025-11-17 1 1 TANYA MEDGAARDEN P01717240 5074347000 2025-11-17 2024 2025-03-06 01:10:19Z SAM INMAN 637 NORTH LEE STREET JACKSONVILLE FL 32204 174461900 0 2106 X WWW.COMMUNITYFIRSTFL.ORG X CU 1935 FL PROVIDING FINANCIAL SOLUTIONS FOR EVERY STAGE OF LIFE. 9 9 541 13 187784 0 0 0 130769255 149872024 14652640 18584045 3034122 3498556 148456017 171954625 25000 40000 26500209 39269428 37682347 40793700 0 0 0 56927055 84964837 121134611 165067965 27321406 6886660 2720027681 2752280661 2414020633 2432435338 306007048 319845323 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. $875,481,306 IN NEW LOANS WERE ORIGINATED DURING 2024 AND MORE THAN $2,031,787,750 IN LOAN BALANCES WERE SERVICED DURING 2024. MEMBERS MAY CHOOSE FROM A NUMBER OF ACCOUNT TYPES INCLUDING REGULAR SHARES, CHECKING, MONEY MARKET, AND RETIREMENT ACCOUNTS. $2,398,307,214 IN DEPOSIT ACCOUNTS WERE MAINTAINED FOR 178,430 MEMBERS DURING 2024. 0 0 0 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 1 0 0 0 0 0 0 0 0 0 1 1 0 0 1 46450 0 1 541 1 1 1 0 0 0 0 0 0 0 1 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 PAULA BASIHAN 9043717921 637 N LEE ST JACKSONVILLE FL 32204 MALINDA PRUDENCIO CHAIRMAN 1.00 X X 0 0 0 TED WILLICH VICE CHAIR 1.00 X X 0 0 0 WILLIAM PERMENTER SECRETARY 1.00 X X 0 0 0 BETTIE ADAMS TREASURER 1.00 X X 0 0 0 NORMAN BRUCE DOUCEK DIRECTOR 1.00 X 0 0 0 JAMES FARAH DIRECTOR 1.00 X 0 0 0 EVA CHANTELLE SCHART DIRECTOR 1.00 X 0 0 0 BRENDA SIMMONS-HUTCHINS DIRECTOR 1.00 X 0 0 0 ELVIA WILLIAMS DIRECTOR 1.00 X 0 0 0 SAM INMAN CEO/PRESIDENT 40.00 X 1100712 0 39112 JOHN HIRABAYASHI CEO/PRESIDENT 40.00 X 1969852 0 19437 TIM SIMPSON CHIEF INFORMATION OFFICER 40.00 X 305045 0 43864 ROGER RASSMAN CHIEF MARKETING OFFICER 40.00 X 282417 0 25212 MELISSA THOMAS COO 40.00 X 306969 0 37697 LORI SMITH CHIEF HUMAN RESOURCES OFFI 40.00 X 279937 0 12870 JIMMY LOVELACE CHIEF MEMBER EXPERIENCE OF 40.00 X 350263 0 25673 ZACHARY TOELLE FINANCIAL ADVISOR 40.00 X 260614 0 10421 RYAN OLSON CHIEF LENDING OFFICER (THRU 11/24) 40.00 X 317289 0 45239 MARK FITZMORRIS FINANCIAL ADVISOR 40.00 X 514855 0 57031 EDWIN REYNOLDS FINANCIAL ADVISOR 40.00 X 243660 0 2936 MICHAEL YOUNG FINANCIAL ADVISOR 40.00 X 228271 0 36474 6159884 0 355966 71 0 1 0 AULD & WHITE CONSTRUCTORS INC 4168 SOUTHPOINT PARKWAY SUITE 101 JACKSONVILLE FL 32216 CONSTRUCTION 8248446 VELERA 560 CARILLION PARKWAY ST PETERSBURG FL 33716 CREDIT, DEBIT & ATM PROCESSOR 6165200 WAHL MEDIA INC 580 PACKETTS LANDING FAIRPORT NY 14450 MARKETING AGENCY 1711291 VISA USA PO BOX 742233 LOS ANGELES CA 900742233 PLASTICS PROCESSOR 1690453 Q2 SOFTWARE INC PO BOX 5205970 DALLAS TX 753205970 ONLINE BANKING 1483731 91 LOAN INTEREST 522100 111942440 111942440 OTHER OPERATING INCOME 900001 20146409 20146409 FEES AND CHARGES 522100 16296046 16108262 187784 NON OPERATING INCOME/EXPENSE 900001 1487129 1487129 149872024 18764583 18764583 2326737 2507275 -180538 -180538 -180538 GAIN ON SERP INVESTMENT 522100 3498556 3498556 3498556 171954625 149684240 187784 22082601 40000 39269428 4799060 28695445 820821 4053344 2425030 352474 124894 14486024 5678266 5343952 452955 3533331 117660 1241608 3377111 4332787 484619 PROVISION FOR CREDIT LO 38578474 LOAN SERVICING EXPENSE 5474224 MISCELLANEOUS EXPENSE 725652 FORGERY, FRAUD & PLASTI 356268 304538 165067965 22149339 26788624 235828336 252176759 3520324 3544795 1902590330 1991448098 6837886 6059189 109800423 35400964 59925655 74399459 403093916 290159451 86081895 107704286 2720027681 2752280661 38010528 33132897 769167 995226 150000000 0 2225240938 2398307215 2414020633 2432435338 X 0 0 0 0 306007048 319845323 306007048 319845323 2720027681 2752280661 6886660 6951615 0 X X 0 1 X 1 0 0 1 X 30209637 30209637 49164278 15474628 33689650 2580665 1355247 1225418 24423361 18571089 5852272 3422482 3422482 74399459 SECURITIES - AFS 286086108 F OTHER INVESTMENTS 4073343 C 290159451 MEMBERS SHARE AND SAVINGS ACCOUNTS 2397325277 NONMEMBER DEPOSITS 981938 2398307215 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 IN THE PAST FOR ACTIVITIES IT HAS DEEMED TAXABLE AS UNRELATED BUSINESS INCOME. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2024 AND 2023. THE CREDIT UNION'S 2021 THROUGH 2023 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. 1 COMMUNITY FIRST CARES FOUNDATION 637 NORTH LEE STREET JACKSONVILLE FL 32204 461535651 501(C)(3) 40000 0 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 1376447 0 170866 0 422539 0 11200 0 8237 0 1989289 0 0 0 SAM INMAN CEO/PRESIDENT 977950 0 69588 0 53174 0 2116 0 36996 0 1139824 0 0 0 MARK FITZMORRIS FINANCIAL ADVISOR 48336 0 466349 0 170 0 11200 0 45831 0 571886 0 0 0 JIMMY LOVELACE CHIEF MEMBER EXPERIENCE OF 283780 0 51729 0 14754 0 11400 0 14273 0 375936 0 0 0 RYAN OLSON CHIEF LENDING OFFICER (THRU 11/24) 253550 0 35123 0 28616 0 9538 0 35701 0 362528 0 0 0 TIM SIMPSON CHIEF INFORMATION OFFICER 264589 0 35466 0 4990 0 11200 0 32664 0 348909 0 0 0 MELISSA THOMAS COO 260143 0 46688 0 138 0 3999 0 33698 0 344666 0 0 0 ROGER RASSMAN CHIEF MARKETING OFFICER 241486 0 30986 0 9945 0 10225 0 14987 0 307629 0 0 0 LORI SMITH CHIEF HUMAN RESOURCES OFFI 270889 0 4824 0 4224 0 9822 0 3048 0 292807 0 0 0 ZACHARY TOELLE FINANCIAL ADVISOR 48000 0 212525 0 89 0 10421 0 0 0 271035 0 0 0 MICHAEL YOUNG FINANCIAL ADVISOR 48000 0 180105 0 166 0 14543 0 21931 0 264745 0 0 0 EDWIN REYNOLDS FINANCIAL ADVISOR 46801 0 196064 0 795 0 0 0 2936 0 246596 0 0 0 PART I, LINE 1A WILLIAM PERMENTER TRAVEL FOR COMPANION $539 ELVIA WILLIAMS TRAVEL FOR COMPANION $1,782 BRENDA SIMMONS-HUTCHINS TRAVEL FOR COMPANION $1,826 CHANTELLE SCHART TRAVEL FOR COMPANION $1,285 JIM FARAH TRAVEL FOR COMPANION $2,056 BRUCE DOUECK TRAVEL FOR COMPANION $1,072 DAVID PAULINO $835 PART I, LINE 1B WE ISSUE 1099S FOR COMPANION /GUEST TRAVEL. PART I, LINE 4B NAME: SAM INMAN, DESCRIPTION: SERP PARTICIPANT, CURRENT YEAR AMOUNT: $500,000. PLAN DESCRIPTION: SERP PAYOUT NAME: JOHN HIRABAYASHI, DESCRIPTION: SERP PARTICIPANT, CURRENT YEAR AMOUNT: $850,811. PLAN DESCRIPTION: SERP PAYOUT NAME: JIMMY LOVELACE, DESCRIPTION: SERP PARTICIPANT, $30,000 DISTRIBUTION NAME: ROGER RASSMAN, DESCRIPTION: SERP PARTICIPANT, NO DISTRIBUTION NAME: TIM SIMPSON, DESCRIPTION: SERP PARTICIPANT, NO DISTRIBUTION NAME: RYAN OLSON, DESCRIPTION: SERP PARTICIPANT, NO DISTRIBUTION JIMMY LOVELACE CHIEF MEMBER EXPERIENCE OFFICER SPLIT DOLLAR LOAN X 4008000 3544795 0 1 1 3544795 SCHEDULE L, PART II NOTED THIS TO BE NON-RECOURSE PLAN THAT IS RECORDED ON THE BALANCE SHEET AT THE LOWER OF LOAN BALANCE OR CASH SURRENDER VALUE. BECAUSE THE CASH SURRENDER VALUE WAS LOWER, WE REPORTED THAT AMOUNT FOR BALANCE SHEET PURPOSES. HOWEVER, THE ACTUAL LOAN BALANCE IS AS FOLLOWS:JIMMY LOVELACE - $ 4,289,729 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 HAVE AN ASSOCIATION WITH THE EDUCATIONAL COMMUNITY IN BAKER, BREVARD, BROWARD, CLAY, DUVAL, FLAGLER, INDIAN RIVER, LAKE, MARTIN, NASSAU, ORANGE, PALM BEACH, PUTNAM, SEMINOLE, ST JOHNS, ST LUCIE AND VOLUSIA 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 11B FORM 990 IS REVIEWED WITH THE BOARD OF DIRECTORS PRIOR 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 CONSULTANT. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2024. 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 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 ACCOUNTANT HAS NOT CHANGED SINCE LAST YEAR. COMMUNITY FIRST CARES FOUNDATION 637 NORTH LEE STREET JACKSONVILLE FL 32204 461535651 IMPROVE THE QUALITY OF LIFE IN NORTHEAST FLORIDA. FL 501(C)(3) LINE 7 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 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 NO TRANSACTIONS OVER 50000