2015-11-10T14:06:44-06:00 2014-12-31 382492570 DOEREN MAYHEW 305 WEST BIG BEAVER ROAD TROY MI 48084 990 2014-01-01 590248325 STATE CHARTERED CREDIT UNIONS IN 121 FINANCIAL CREDIT UNION STAT 9047236300 9700 TOUCHTON ROAD JACKSONVILLE FL 32246 REBECCA S HULETT SVP/CFO 9047236300 2015-11-09 1 ROBERT PARKS CPA P00740435 2482443000 2014 2016-04-25 22:37:26Z WILLIAM R BRADDOCK JR 9700 TOUCHTON ROAD JACKSONVILLE FL 32246 67985883 0 X WWW.121FCU.ORG X 1935 FL TO SHARE IN THE FINANCIAL SUCCESS OF OUR MEMBERS BY PROVIDING SERVICES WITH INTEGRITY AND FAIRNESS. 10 10 173 13 185975 -100323 0 0 18619702 18703929 1876876 1811079 166733 185975 20663311 20700983 0 0 0 0 7662240 7957728 0 0 0 10133546 10279477 17795786 18237205 2867525 2463778 429116687 443057646 383061733 394080780 46054954 48976866 TO SHARE IN THE FINANCIAL SUCCESS OF OUR MEMBERS BY PROVIDING SERVICES WITH INTEGRITY AND FAIRNESS. 0 0 PROVIDE SAVINGS PRODUCTS WHICH MEETS THE NEEDS OF OUR MEMBERS. PROVIDE LENDING PRODUCTS WHICH MEETS THE NEEDS OF OUR MEMBERS. PROVIDE OUR MEMBERS SOUND, STABLE AND EVOLVING FINANCIAL SOLUTIONS. 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 10566 0 1 173 1 1 1 0 0 0 0 0 X 10 10 0 0 0 0 1 1 0 1 0 0 1 1 0 1 1 1 1 1 0 0 0 X REBECCA S HULETT SVPCFO 9047236300 9700 TOUCHTON ROAD JACKSONVILLE FL 32246 GEORGE W CAULEY BOARD MEMBER 2.00 X 0 0 0 ROBERT M GIPSON BOARD MEMBER 2.00 X 0 0 0 RAYMOND EDDIE CLANTON CHAIRMAN 2.00 X X 0 0 0 J MICHAEL HOGAN VICE CHAIRMAN 2.00 X X 0 0 0 JOHN SCOTT III BOARD MEMBER 2.00 X 0 0 0 BILLIE C GREENLIEF BOARD MEMBER 2.00 X 0 0 0 CYNTHIA A DELASSUS TREASURER 2.00 X X 0 0 0 WILLIAM H MACOMBER JR BOARD MEMBER 2.00 X 0 0 0 SHELBA WILLIAMS SECRETARY 2.00 X X 0 0 0 LEN PICKETT BOARD MEMBER 2.00 X 0 0 0 WILLIAM BRADDOCK JR PRESIDENT/CEO 40.00 X 204339 0 26781 DAVIS JOHNSTON SVP OPERATIONS 40.00 X 124413 0 13523 GRETCHEN QUISENBERRY SVP HUMAN RESOURCES 40.00 X 104990 0 12828 REBECCA S HULETT SVP CFO 40.00 X 121637 0 12562 555379 0 65694 4 0 1 0 FISERV INC PO BOX 300016 DULUTH GA 30096 DATA PROCESSING 1037401 SCHERER CONSTRUCTION 2926 EDISON AVE JACKSONVILLE FL 32254 CONSTRUCTION 300795 RICOH USA INC PO BOX 534777 ATLANTA GA 303534777 COPY/PRINT SERVICES 193178 GLORY GLOBAL SOLUTIONS INC PO BOX 71252 CHICAGO IL 60694 CASH MACHINES 169342 NCR CORPORATION 14181 COLLECTIONS CENTER DR CHICAGO IL 606930141 ATM'S 137368 10 INCOME ON MEMBER LOANS 522100 13269692 13269692 FEES & CHARGES 522100 5434237 5434237 18703929 1726711 1726711 46381366 987902 46261682 1023218 119684 -35316 84368 84368 INVESTMENT ADVISORY SERVICES 525990 137522 137522 ATM INCOME 525990 34763 34763 INSURANCE INCOME 524298 13690 13690 185975 20700983 18703929 185975 1811079 904601 5681649 212386 656302 502790 43030 70230 521570 833204 1011346 1461375 1099598 174417 27414 1952 933598 189988 MEMBERS SHARE EXPENSES 1697800 OFFICE OPERATIONS 1001627 CREDIT/DEBIT CARD EXPEN 725126 LOAN SERVICING EXPENSE 656711 -169509 18237205 1902329 2062847 41771243 23271587 271644 287762 230411078 265211469 754808 984462 26672513 9978467 15512637 16694046 131347702 123529329 7145246 11016144 429116687 443057646 2937219 2455597 10000000 380124514 381625183 383061733 394080780 X 0 0 0 0 46054954 48976866 46054954 48976866 429116687 443057646 X 2463778 462461 -4327 X X 0 1 X 1 0 8693772 8693772 9737937 2934830 6803107 292295 292295 0 7496916 6751342 745574 451593 451593 16694046 FHLB 99633881 F CMO'S 80730 F FNMA 11223368 F FHLMC 2258099 F BANK CD'S 10333251 C 123529329 MEMBER DEPOSITS 381625183 381625183 X 20736299 35316 35316 20700983 0 20700983 18272521 35316 35316 18237205 0 18237205 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL INCOME TAXES ON INCOME RELATED TO THE EXEMPT PURPOSE OF THE CREDIT UNION. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION DESCRIBED 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 THAT ARE IN FURTHERANCE OF ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (AS DEFINED IN SECTION 512) DERIVED BY STATE-CHARTERED CREDIT UNIONS. MANY STATES HAVE SIMILAR LAWS. THE SPECIFIC APPLICATION OF SECTION 512 TO THE VARIOUS ACTIVITIES CONDUCTED BY STATE-CHARTERED CREDIT UNIONS HAS BEEN AN ISSUE FOR MANY YEARS. IN 2007, THE INTERNAL REVENUE SERVICE ("IRS") ISSUED A SERIES OF TECHNICAL ADVICE MEMORANDA ("TAM") TO A NUMBER OF STATE-CHARTERED CREDIT UNIONS LOCATED THROUGHOUT THE COUNTRY. IN THESE TAMS THE IRS RULED CERTAIN PRODUCTS AND SERVICES TO BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. IN LIGHT OF THE TAMS, THE CREDIT UNION HAS ASSESSED ITS ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY. IN THE OPINION OF MANAGEMENT, ANY LIABILITY ARISING FROM FEDERAL OR STATE TAXATION OF ACTIVITIES DEEMED TO BE UNRELATED TO ITS EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION'S INCOME TAX FILINGS ARE SUBJECT TO AUDIT BY VARIOUS TAXING AUTHORITIES AND OPEN AUDIT TAX PERIODS INCLUDE 2011 - 2014. PART XI, LINE 2D - OTHER ADJUSTMENTS: GAIN ON DISPOSAL OF OTHER REAL ESTATE OWNED 35,316. GAIN ON DISPOSAL OF OTHER ASSETS PART XII, LINE 2D - OTHER ADJUSTMENTS: GAIN ON DISPOSAL OF OTHER REAL ESTATE OWNED 35,316. GAIN ON DISPOSAL OF OTHER ASSETS X 1 1 X X 0 0 0 WILLIAM BRADDOCK JR PRESIDENT/CEO 182572 0 21767 0 0 0 8199 0 18582 0 231120 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 ALL ACCOUNT HOLDERS ARE REFERRED TO AS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION HAS AN ANNUAL ELECTION IN WHICH THE MEMBERS ELECT THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 8B THE CREDIT UNION DOES NOT HAVE A COMMITTEE WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11 THE ORGANIZATION DOES NOT PROVIDE A COPY OF FORM 990 TO THE GOVERNING BODY PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ALL EMPLOYEES ARE REQUIRED TO SIGN A STATEMENT ANNUALLY STATING THAT THEY ARE NOT INVOLVED IN ANY TRANSACTIONS THAT WOULD BE A CONFLICT OF INTEREST. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION MAKES ITS FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: NET CHANGE IN POSTRETIREMENT BENEFIT -4,327. FORM 990, PART XII, LINE 2C: WE HAVE A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNT. OUR PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.