2013-06-13T03:47:51-00:00 2012-12-31 ORTH CHAKLER MURNANE AND CO CPAs 12060 SW 129 COURT SUITE 201 MIAMI FL 33186 990 2012-01-01 237036269 STATE CHARTERED CREDIT UNIONS IN FLORIDA (FOCUS CREDIT UNION) STAT 8506632404 303 EAST WASHINGTON STREET CHATTAHOOCHEE FL 32324 WILLIAM ENFINGER 2013-06-13 true DOUGLAS ORTH 3052328272 2013-06-13 2012 2016-03-07 17:11:31Z FOCUS CREDIT UNION WILLIAM ENFINGER 303 E WASHINGTON STREET CHATTAHOOCHEE FL 32324 6658345 false 2106 X www.focuscu.org X CREDIT UNION 1991 FL FOCUS CREDIT UNIONS MISSION IS TO PROVIDE QUALITY, COMPETITIVE PRODUCTS AND SERVICES IN A CONVENIENT, CARING ATMOSPHERE THROUGH SAFE AND SOUND PRACTICES WITH HONESTY AND INTEGRITY AS OUR FOCUS. 7 7 45 7 46893 0 6438237 6055461 201703 327884 0 6639940 6383345 0 0 1872102 2055871 0 0 4423779 4342879 6295881 6398750 344059 -15405 119689231 124915365 109345849 115371317 10343382 9544048 FOCUS CREDIT UNIONS MISSION IS TO PROVIDE QUALITY, COMPETITIVE PRODUCTS AND SERVICES IN A CONVENIENT, CARING ATMOSPHERE THROUGH SAFE AND SOUND PRACTICES WITH HONESTY AND INTEGRITY AS OUR FOCUS. false false 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. false false false false false false false false true false false false true true false true false false false false false false false false false false false false false false false false false false false false false false true true true false false true 4454 0 true 45 true true true false false false false false X 7 7 false false false false true true false true true false false false true true false false true true true false X WILLIAM ENFINGER 8506632404 303 E WASHINGTON STREET CHATTAHOOCHEE FL 32324 EL GARNER 001.00 001.00 X 0 0 0 R PICKENS 001.00 001.00 X 0 0 0 JC HARRIS 001.00 001.00 X 0 0 0 D PINSON 001.00 001.00 X 0 0 0 JT HOLT SR 001.00 001.00 X 0 0 0 R SAMMONS 001.00 001.00 X 0 0 0 A SHUTES 001.00 001.00 X 0 0 0 WC ENFINGER 040.00 040.00 X 108960 0 31425 AJ JOHNS 040.00 040.00 X 83382 0 43473 VL HOSEY 040.00 040.00 X 72717 0 23926 265059 98824 2 false false false CUNA MUTUAL GROUP PO BOX 2978 MADISON WI 53701 PENSION/RETIREMENT/401K 350000 UNITED SOLUTIONS COMPANY PO BOX 5496 TALLAHASSEE FL 32314 DATA PROCESSOR 543497 WILLIAMS GAUTIER PA PO BOX 4128 TALLAHASSEE FL 32315 ATTORNEY 121587 PSCU 560 CARILLON PARKWAY ST PETERSBURG FL 33716 CREDIT CARD PROCESSOR 224335 WH BASS INC 11300 JOHNS CREEK PARKWAY DULUTH GA 30097 CONTRACTOR 207884 6 INTEREST INCOME FROM LOANS 522100 4240613 4240613 OTHER INCOME 522100 1767955 1767955 UNRELATED BUSINESS INCOME 524298 46893 46893 6055461 325847 325847 277037 275000 2037 2037 2037 6383345 6336452 46893 0 0 0 0 363883 363883 0 1222007 1222007 350310 350310 0 119671 119671 0 102214 102214 50400 50400 0 0 0 68835 68835 183881 183881 0 0 109277 109277 15416 15416 0 5891 5891 816036 816036 0 202382 202382 462203 462203 SEE ATTACHED SCHEDULE 2326344 2326344 0 6398750 6398750 1988190 2073239 25389318 30472482 198921 211856 77576376 73080705 287074 97443 5942471 2397091 3232352 3545380 8518105 11217039 742886 740686 1756009 3476535 119689231 124915365 837973 1530252 108507876 113841065 109345849 115371317 X 10343382 9544048 10343382 9544048 119689231 124915365 X -15405 -783929 X false true X true false false 437701 437701 3535271 1096322 2438949 1969499 1300769 668730 3545380 Financial derivatives and other financial products Closely-held equity interests Federal income taxes MEMBER SHARE ACCOUNTS 27887091 MEMBER SHARE DRAFT ACCOUNTS 15167747 MEMBER MONEY MARKET ACCOUNTS 14401741 MEMBER CERTIFICATES 56384486 113841065 X X 2 THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE LAWS. THE INCOME TAXES TOPIC OF THE FASB ASC CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE CONSOLIDATED 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 THE INTERNAL REVENUE CODE IRC SECTION 50414. 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 UNRELATED BUSINESS INCOME UBI DERIVED BY STATE-CHARTERED CREDIT UNIONS. BEGINNIGN IN MARCH 2008, THE INTERNAL REVENUE SERVICE IRS RELEASED TECHNNICAL 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 UNIONS 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 RECOGNITON OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. ADDITIONALLY, NO INTEREST AND PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. CURRENTLY, THE 2011, 2010, AND 2009 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. Form 990 Part VI Section A Line 6 THE ORGANIZATION HAS MEMBERS. Form 990 Part VI Section A Line 7A THE CREDIT UNION MEMBERSHIP MAY PARITICIPATE IN THE ELECTION OF OFFICIALS. Form 990 Part VI Section B Line 11B THE FORM 990 IS REVIEWED BY THE CREDIT UNIONS CEO AND VICE PRESIDENT/CONTROLLER PRIOR TO FILING. Form 990 Part VI Section B Line 15AB THE REVIEW OF THE CEOS COMPENSATION IS REVIEWED ANNUALLY BY THE BOARD OF DIRECTORS. THE REVIEW CONTAINS A COMPREHENSIVE PERFORMANCE APPRAISAL. ALL SALARY INCREASES ARE BASED ON THE EVALUATION AND THE PERFORMANCE OF THE CREDIT UNION. Form 990 Part VI Section C Line 19 THE CREDIT UNIONS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNIONS FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC VIEWING ON THE NCUAS WEBSITE, VIA THE QUARTERLY 5300 CALL REPORT FILING. THE CREDIT UNION ALSO POSTS THE FINANCIAL STATEMENTS IN THE CREDIT UNION LOBBY. Form 990 Part XI Line 9 783,929 REPRESENTS AMORTIZATION OF DEFERRED PENSION LOSSES. 1ST MEMBERS INSURANCE GROUP LLC PO BOX 835 CHATTAHOOCHEE FL 32324 141925692 INSURANCE SERVICES FL 78451 70640 FOCUS CREDIT UNION UNITED SOLUTIONS COMPANY PO BOX 5496 TALLAHASSEE FL 32314 592285914 CREDIT UNION SERVICES FL N/A C Corp 1393608 1757206 0.16670 false false false false false false false false false false false false false false false false false false false false