2012-09-24T11:00:07-05:00 2011-12-31 CROWE HORWATH LLP 70 West Madison Street Suite 700 Chicago IL 606024903 990 2011-01-01 590860768 COMMUNITY CREDIT UNION OF FLORIDA COMM 3216902328 1030 S US Hwy 1 Rockledge FL 32955 DAVID BROCK 2012-09-21 true kristin ficker P01254056 3128997000 2011 2016-02-24 21:20:13Z DAVID BROCK 1030 S US Hwy 1 Rockledge FL 32955 23507663 false X WWW.CCUFLORIDA.ORG X 1953 FL COMMUNITY CREDIT UNION OF FLORIDA PROVIDES FINANCIAL SERVICES TO ITS 32,500 MEMBERS. AS OF 12/31/2011, CCU IS SERVICING 17,248 MEMBER LOANS AND HAS A TOTAL OF 66,352 ACTIVE DEPOSIT ACCOUNTS. 5 5 96 5 119654 0 0 0 23966026 23202527 278463 288692 -193645 16444 24050844 23507663 37746 32590 0 0 5001316 4947874 0 0 0 17472041 15334262 22511103 20314726 1539741 3192937 359966164 383812722 328517449 349806474 31448715 34006248 X COMMUNITY CREDIT UNION IS A MEMBER-OWNED, NOT-FOR-PROFIT, FINANCIAL COOPERATIVE FORMED IN 1953 BY LOCAL EDUCATORS. CCU HAS GROWN TO MORE THAN 32,000 MEMBERS. COMMUNITY CREDIT UNION'S MISSION IS TO PROVIDE TIMELY FINANCIAL SERVICES AND EDUCATION TO OUR MEMBERS BY CONSISTENTLY IMPROVING OUR MEMBER'S FINANCIAL KNOWLEDGE AND WELL BEING (CONTINUED ON SCHEDULE O). false false LOANS RECEIVABLE. INTEREST EARNED ON 17,248 ACTIVE LOANS. OFFER FINANCIAL SERVICES TO 32,500 MEMBERS IN THE FORM OF MONEY ORDERS, TRAVELERS CHECKS, OFFICIAL CHECKS, WIRE TRANSFERS, SAFE DEPOSIT BOXES AND MANY OTHER SERVICES THAT ARE PROVIDED BY THE EMPLOYEES OF COMMUNITY CREDIT UNION OF FLORIDA. INVESTMENTS ARE USED AS A MEANS OF EXTRA EARNINGS ON DEPOSITED FUNDS THAT HAVE NOT BEEN UTILIZED FOR ANY LENDING PROGRAMS. ALSO INCLUDES NET LOSS FROM DISPOSITION OF ASSETS. false false false false false false false false false true true false false true true true false false false false false false false false false false true false true false true false false false false false false false false false false false false false true 8778 0 true 96 true true true false false false false false X 5 5 false false false false true true false true true false false true false false true true false false X David O Brock 3216902328 1030 S US Hwy 1 Rockledge FL 32955 DORTHA EVERHART 1.00 X X 0 0 0 HENRY KELLEY 1.00 X X 0 0 0 LINDA DALE 1.00 X X 0 0 0 BETTY DUNN 1.00 X 0 0 0 JAMES PLATMAN 1.00 X 0 0 0 DAVID O BROCK 50.00 X 343861 0 20852 JAMES CHASTAIN 50.00 X 101018 0 8354 LAURIE CAPPELLI 50.00 X 135262 0 4223 LESLI DOOLEY 50.00 X 107473 0 16599 687614 0 50028 4 false true false FISERV 75 REMITTANCE DR SUTE 6974 CHICAGO IL 60675 DATA PROCESSOR 381728 DIEBOLD PO BOX 643543 PITTSBURGH PA 15264 MAINTENANCE OF EQUIPMENT 244761 DATA MANAGEMENT 3225 JORDAN BV MALABAR FL 32950 MEMBER STATEMENT PROVIDER 184597 3 0 MEMBER LOANS 522100 17961307 17961307 SERVICE CHARGES AND OTHER FEES 522100 3350620 3230966 119654 INTERCHANGE INCOME 522100 1804122 1804122 GAIN ON SALE OF LOANS 522100 86478 86478 0 0 0 0 23202527 288692 288692 0 0 0 0 0 0 0 0 0 0 0 MISCELLANEOUS INCOME 900099 16444 16444 0 0 0 0 16444 23507663 23099317 119654 288692 32590 0 364713 3411550 87337 758268 326006 42733 74529 0 905563 454363 698230 9468 639604 146216 14421 2004604 547105 806415 PROVISION FOR LOAN LOSS 5771500 RECORDING/COLLECTION/CREDIT CARD FEES 739594 ATM/CREDIT CARD/SERVICE CHARGES 609574 INTERCHANGE AND LOAN EXPENSES 656121 1214222 0 0 0 20314726 0 0 0 2826437 3976269 77533927 60276390 1511598 750456 259447138 271398772 0 5473095 6325903 16740442 7688912 8855353 9051530 787232 29832041 0 0 0 3531384 2201361 359966164 383812722 1662213 2384834 0 0 0 0 0 0 0 326855236 347421640 328517449 349806474 X 0 0 31448715 34006248 31448715 34006248 359966164 383812722 X 3192937 -635404 X false true true X false 3296641 3296641 7278818 2170541 5108277 230250 227866 2384 5934733 5290505 644228 0 9051530 0 0 FHLB STOCK ACCOUNT 697470 F CU 24 ATM NETWORK 94271 F GOVERNMENT AGENCIES 29040300 F 29832041 0 MEMBERS' SHARES 347421640 347421640 23507663 20314726 3192937 -635404 -635404 2557533 23133629 -374034 -374034 23507663 0 0 23507663 19940692 0 0 19940692 374034 374034 20314726 FIN 48 (ASC 740) footnote Schedule D, Part X, Line 2 THE CREDIT UNION IS EXEMPT BY STATUE FROM FEDERAL AND STATE INCOME TAXES. THE INTERNAL REVENUE SERVICE AND CERTAIN STATE TAXING AUTHORITIES ARE CURRENTLY REVISITING WHAT, IF ANY, PRODUCTS AND SERVICES PROVIDED BY STATE CHARTERED CREDIT UNIONS OR THEIR CREDIT UNION SERVICE ORGANIZATIONS ARE SUBJECT TO UNRELATED BUSINESS INCOME TAX ("UBIT"). THERE IS CURRENTLY VERY LITTLE GUIDANCE IN THE IRS CODE ON WHAT ACTIVITIES SHOULD BE SUBJECT TO UBIT. THE IRS HAS RECENTLY ISSUED CERTAIN TECHNICAL ADVICE MEMORANDUMS IDENTIFYING CERTAIN ACTIVITIES AS BEING SUBJECT TO UBIT. AS A RESULT, AT THIS TIME THERE IS UNCERTAINTY REGARDING WHETHER STATE CHARTERED CREDIT UNIONS SHOULD PAY INCOME TAX ON CERTAIN TYPES OF NET TAXABLE INCOME FROM ACTIVITIES THAT MAY BE CONSIDERED BY TAXING AUTHORITIES AS UNRELATED TO THE PURPOSE FOR WHICH CREDIT UNIONS WERE GRANTED NON-TAXABLE STATUS. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES DEEMED UNRELATED TO THE CREDIT UNION'S NON-TAXABLE STATUS IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON FINANCIAL POSITION OR RESULTS OF OPERATIONS. A TAX POSITION, INCLUDING THE POSITION THAT THE CREDIT UNION IS NOT SUBJECT TO INCOME TAXES, IS RECOGNIZED AS A BENEFIT ONLY IF IT IS "MORE LIKELY THAN NOT" THAT THE TAX POSITION WOULD BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. true BREVARD SCHOOLS FOUNDATION INC 2700 JUDGE FRAN JAMIESON WAY VIERA FL 32940 592895155 501(C)(3) 32590 0 N/A N/A FUND EDUCATION 1 0 Procedures for monitoring use of grant funds Schedule I, Part I, Line 2 THE CREDIT UNION DONATES FUNDS TO CHARITABLE ORGANIZATIONS WITHIN OUR FIELD OF MEMBERSHIP, THE ANNUAL BUDGETING PROCESS IS WHEN THE EXECUTIVE TEAM LOOKS AT REQUESTS AND FINANLIZES THE AMOUNT TO BE ALLOCATED FOR DONATIONS FOR THE UPCOMING YEAR. THE CU DONATES FOR SPECIFIC CHARITABLE EVENTS, WITH THE CHECK BEING SUBMITTED TO THE EVENT REPRESENTATIVE. THESE FUNDS ARE TRACKED ON AN ANNUAL BASIS BY THE MARKETING DEPARTMENT. X true true X X X X false true false DAVID O BROCK 318614 0 16460 0 8787 0 2603 0 18249 0 364713 0 0 0 Travel for companions Schedule J, Part I, Line 1a THE CEO RECEIVED BOARD APPROVAL FOR REIMBURSEMENT OF TRAVEL EXPENSES FOR SPOUSE WHEN ACCOMPANYING CEO ON CREDIT UNION TRAVEL. Supplemental nonqualified retirement plan Schedule J, Part I, Line 4b DAVID BROCK RECEIVED $2,602.95 FROM HIS PARTICIPATION IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. DAVID O BROCK SPLIT DOLLAR LIFE X 750456 762785 false true true 762785 ORGANIZATION'S MISSION FORM 990, PART III, LINE 1 CCU'S BOARDS OF DIRECTORS ARE ALL UNPAID VOLUNTEERS, ELECTED BY MEMBERS. FREE SERVICES INCLUDE FINANCEWORKS, BILL PAY, ONLINE/MOBLE BANKING, TEXT BALANCE/TRANSFER AND THE CONVENIENCE OF SATURDAY LOBBY HOURS. CCU ALSO OFFERS ONLINE EDUCATION AND ANONYMOUS COUNSELING THROUGH BALANCE. CCU'S INNOVATIVE LOANS AND MEMBER SOLUTIONS PROGRAM PROVIDE A MEANS TO REWORK DEBT TO KEEP MEMBERS IN THEIR HOMES AND DRIVING THEIR CARS. CCU WORKS HARD TO ENSURE ITS PROFITS ARE REINVESTED BACK INTO THE LOCAL COMMUNITY. OUR LEGACY OF SPONSORING A VARIETY OF ACTIVITIES AND EVENTS IN THE LOCAL COMMUNITY HAS BEEN INSTRUMENTAL IN SUPPORTING LOCAL NON-PROFIT ORGANIZATIONS. Classes of members or stockholders Form 990, Part VI, Section A, Line 6 COMMUNITY CREDIT UNION HAS 32,500 ACTIVE MEMBERS AS OF 12/31/2011 Members or stockholders electing members of governing body Form 990, Part VI, Section A, Line 7a MEMBERSHIP PARTICIPANTS IN THE ELECTION OF THE BOARD MEMBERS AT THE ANUAL MEETING HELD DURING THE FIRST QUARTER OF EVERY YEAR. Review of form 990 by governing body Form 990, Part VI, Section B, Line 11b THE 990 IS PRESENT TO THE BOARD OF DIRECTORS DURING A "SPECIAL SESSION" OF THE MONTHLY BOARD OF DIRECTORS MEETING. A COPY OF THE COMPLETED FORM AND SCHEDULE IS GIVEN TO EACH BOARD MEMBER AND THE PREPARER OF THE FORM GOES OVER THE RETURN, ANSWERING ANY QUESTIONS AS THEY ARE PRESENTED. Process used to establish compensation of top management official Form 990, Part VI, Section B, Line 15a THE COMPENSATION OF THE EXECUTIVE OFFICER IS DETERMINED BY THE BOARD OF DIRECTORS ANNUALLY. THE BOARD FIRST CONDUCTS PERFORMANCE REVIEW. COMPENSATION SURVERY STUDY IS COMPLETED. CONTRACT NEGOTIATIONS CONDUCTED BETWEEN CEO AND BOARD. CONTRACT IS DRAWN UP, REVIEWED BY LEGAL, THEN APPROVED AND SIGNED BY THE BOARD. PROCESS TO DETERMINE COMPENSATION FORM 990, PART VI, LINE 15B THE ORGANIZATION DOES NOT HAVE OTHER OFFICERS OR KEY EMPLOYEES. THEREFORE, THIS QUESTION IS NOT APPLICABLE AND HAS BEEN ANSWERED "NO" ACCORDING TO THE FORM 990 INSTRUCTIONS. Governing documents, conflict of interest policy and financial statements available to the public Form 990, Part VI, Section C, Line 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES, AND FINANCIAL STATEMENTS ARE NOT REQUIRED DISCLOSURES PURSUANT TO INTERNAL REVENUE CODE (IRC) SECTION 6104. BUT, THE ORGANIZATION POSTS THE MONTHLY FINANCIAL STATEMENTS IN THE LOBBY OF EACH BRANCH. LOANS TO AND FROM INTETRESTED PERSONS FORM 990, PART X, LINE 5 COMMUNITY CREDIT UNION OF FLORIDA DOES NOT HAVE TO COMPLETE SCHEDULE L, PART II PER THE FORM 990 INSTRUCTIONS, "LOANS FROM A CREDIT UNION MADE TO AN INTERESTED PERSON ON THE SAME TERMS AS OFFERED TO OTHER MEMBERS OF THE CREDIT UNION." Other changes in net assets or fund balances Form 990, Part XI, Line 5 CHANGE IN PENSION PLAN - -635404;