2012-11-14T16:45:05-00:00 2011-12-31 ORTH CHAKLER MURNANE AND CO CPAs 12060 SW 129 COURT SUITE 201 MIAMI FL 33186 990 2011-01-01 590642953 FIRST COAST COMMUNITY CREDIT UNION FIRS 3863285555 306 S PALM AVENUE PALATKA FL 32177 GRETCHEN LUNSFORD 2012-11-14 true DOUGLAS ORTH 3052328272 2012-11-14 2011 2016-02-24 21:20:13Z GRETCHEN LUNSFORD 306 S PALM AVENUE PALATKA FL 32177 5547707 false 2106 X WWW.FIRSTCOASTCU.COM X CREDIT UNION 1948 FL DELIVERING DREAMS THROUGH SIMPLIFIED FINANCIAL SERVICES. 10 10 45 10 11667 0 3789414 5048033 486301 443664 0 4275715 5491697 0 0 1365064 1943683 0 0 2886316 3245349 4251380 5189032 24335 302665 73126596 96523996 63331278 85466993 9795318 11057003 DELIVERING DREAMS THROUGH SIMPLIFIED FINANCIAL SERVICES. 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 true false false true false true false false false false false false false false false false false false true false false false false false false false false false false false false false false false true 2972 0 true 45 true true true false false false false false X 10 10 false false false false true true false true true false false true true true true true true true true false X GRETCHEN LUNSFORD 3863285555 306 SOUTH PALM AVENUE PALATKA FL 32177 JAMES NORWOOD 001.00 X 0 0 0 RANDALL DAMPIER 001.00 X 0 0 0 CANDY RIGDON 001.00 X 0 0 0 CATHERINE MERRITT 001.00 X 0 0 0 MARTHA SINGLETON 001.00 X 0 0 0 BETTY POTEET 001.00 X 0 0 0 RUDY HOWARD 001.00 X 0 0 0 BRAD PURCELL 001.00 X 0 0 0 LINDA OSBORNE 001.00 X 0 0 0 GRETCHEN LUNSFORD 040.00 X 177536 0 12212 SANDRA PREVATT 040.00 X 124841 0 10187 RICK LOOK 001.00 X 0 0 0 302377 22399 2 false true false WESCOM 123 S MARENGO AVE PASADENA CA 91101 DATA PROCESSING 204434 NCUA PO BOX 360026 M PITTSBURGH PA 152516026 SHARE INSURANCE 211876 JACK HENRY PO BOX 503328 ST LOUIS MO 63150 SOFTWARE SUPPORT AND DATA PROCESSING 114316 PALM COAST CENTER PO BOX 924133 HOUSTON TX 772924133 PALM COAST OFFICE LAND LEASE AND TAXES 141313 SELECT SOURCE 610 CRESCENT EXECUTIVE CT SUITE 524 LAKE MARY FL 32746 HEALTH INSURANCE 326908 5 INCOME FROM LOANS 522100 3304763 3304763 FEES/CHARGES/OTHER 522100 1731603 1731603 UNRELATED BUSINESS INCOME 900099 11667 11667 5048033 469720 469720 29954 56010 -26056 -26056 -26056 5491697 5480030 11667 0 0 0 0 0 0 1448323 1448323 89648 89648 299722 299722 105990 105990 0 13979 13979 245221 245221 0 0 56331 56331 82348 82348 455040 455040 380789 380789 0 340856 340856 37551 37551 0 0 505468 505468 0 265080 265080 55211 55211 SEE ATTACHED SCHEDULE 807475 807475 0 5189032 5189032 1724749 2055619 17775518 29743898 238512 201146 32463516 40041107 100026 110796 6540801 2873646 3215681 3667155 16325000 16922501 2197690 1283594 1584084 73126596 96523996 701573 1044884 62629705 84422109 63331278 85466993 X 9795318 11057003 9795318 11057003 73126596 96523996 X 302665 959020 X false true true X false false 391629 391629 4137256 1136936 3000320 2011916 1736710 275206 3667155 CDs HELD AT SOUTHEAST CORPORATE COST 16922501 F 16922501 MEMBER DEPOSITS - SHARES 33469080 MEMBER DEPOSITS - CHECKING 12302978 MEMBER DEPOSITS - MONEY MARKET 7791583 MEMBER DEPOSITS - IRA 3141922 MEMBER DEPOSITS - CERTIFICATE OF DEPOSIT 19426475 MEMBER DEPOSITS - IRA CERTIFICATES 6433235 MEMBER DEPOSITS - OTHER 1856836 84422109 5491697 5189032 302665 959020 959020 1261685 5517753 5517753 -26056 -26056 5491697 5215088 26056 26056 5189032 5189032 X 2 FASB ASC TOPIC INCOME TAXES, OVERALL ROVOGNITION CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE 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 X 2 AUTHORITIES. AS A RESULT OF ADOPTING ASC 740-10-25, THE CREDIT UNION HAS ASSESSED ITS 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 RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. ADDITIONALLY, NO INTEREST AND PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. CURRENTLY, THE 2010, 2009, AND 2008 FEDERAL INCOME TAX RETURNS ARE OPEN FOR EXAMINATION XIII 2 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. XIII 2D LOSS FROM SALE OF OTHER REAL ESTATE OWNED. XIII 4A LOSS FROM SALE OF OTHER REAL ESTATE OWNED. XI 8 REGULAR RESERVE TRANSFERRED FROM MERGER WITH PCFCU IN THE AMOUNT OF 695,334 PLUS UNDIVIDED EARNINGS FROM PCFCU IN THE AMOUNT OF 396,322 LESS FAIR MARKET VALUE OF MERGED CREDIT UNION PCFCU IN THE AMOUNT OF 132,636. X true true X X X X false true false GRETCHEN LUNSFORD 171505 6031 6356 5856 189748 I 4B GRETCHEN LUNSFORD PARTICPATES IN A 457f PLAN. THERE WERE NO CREDIT UNION CONTRIBUTIONS TO THE PLAN DURING 2011. Form 990 Part VI 6 THE CREDIT UNION HAS MEMBERS. Form 990 Part VI 7A THE CREDIT UNION MEMBERSHIP MAY PARTICIPATE IN THE ELECTION OF OFFICIALS. Form 990 Part VI 11B INITIAL REVIEW OF THE FORM 990 IS DONE BY SANDRA PREVATT, EVP OPERATIONS. IT IS THEN SUBMITTED TO THE CEO, GRETCHEN LUNSFORD, FOR FINAL REVIEW AND APPROVAL. Form 990 Part VI 12C THE EXECUTIVE VP OF OPERATIONS, UNDER THE DIRECTION OF THE PRESIDENT/CEO MONITORS COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY FOR FIRST COAST COMMUNITY CREDIT UNION. THIS INCLUDES VENDOR MANAGEMENT, EMPLOYEE TRAINING AND MONITORING OF EMPLOYEE TRANSACTIONS. ALL NEW EMPLOYEES ARE GIVEN A CONFLICT OF INTEREST POLICY AS PART OF THE CODE OF CONDUCT. Form 990 Part VI 15 THE COMPENSATION OF THE CEO IS SUBJECT TO A BOARD REVIEW ANNUALLY AND IS BASED ON AN EXECUTIVE COMPENSATION SURVEY FROM AN INDEPENDENT THIRD PARTY. THE SALARIES OF OTHER OFFICERS AND KEY EMPLOYEES ARE DETERMINED BY UTILIZING THE CUNA MUTUAL GROUP SALARY SURVEY BASED ON CREDIT UNION ASSET SIZE. Form 990 Part VI 19 THE CREDIT UNIONS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT MADE AVAILABLE TO THE PUBLIC. FINANCIAL STATEMENTS ARE MADE AVAILABLE ON THE NCUAS WEBSITE VIA THE 5300 FILING. Form 990 Part XI 5 REGULAR RESERVE TRANSFERRED FROM MERGER WITH PCFCU IN THE AMOUNT OF 695,334 PLUS UNDIVIDED EARNINGS FROM PCFCU IN THE AMOUNT OF 396,322 LESS FAIR MARKET VALUE OF MERGED CREDIT UNION PCFCU IN THE AMOUNT OF 132,636 Form 990 Part VI Section A Line 6 THE CREDIT UNION HAS 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 B Line 11B INITIAL REVIEW OF THE FORM 990 IS DONE BY SANDRA PREVATT, EVP OPERATIONS. IT IS THEN SUBMITTED TO THE CEO, GRETCHEN LUNSFORD, FOR FINAL REVIEW AND APPROVAL. Form 990 Part VI Section B Line 12C THE EXECUTIVE VP OF OPERATIONS, UNDER THE DIRECTION OF THE PRESIDENT/CEO MONITORS COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY FOR FIRST COAST COMMUNITY CREDIT UNION. THIS INCLUDES VENDOR MANAGEMENT, EMPLOYEE TRAINING AND MONITORING OF EMPLOYEE TRANSACTIONS. ALL NEW EMPLOYEES ARE GIVEN A CONFLICT OF INTEREST POLICY AS PART OF THE CODE OF CONDUCT. Form 990 Part VI Section B Line 15 THE COMPENSATION OF THE CEO IS SUBJECT TO A BOARD REVIEW ANNUALLY AND IS BASED ON AN EXECUTIVE COMPENSATION SURVEY FROM AN INDEPENDENT THIRD PARTY. THE SALARIES OF OTHER OFFICERS AND KEY EMPLOYEES ARE DETERMINED BY UTILIZING THE CUNA MUTUAL GROUP SALARY SURVEY BASED ON CREDIT UNION ASSET SIZE. 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. FINANCIAL STATEMENTS ARE MADE AVAILABLE ON THE NCUAS WEBSITE VIA THE 5300 FILING. Form 990 Part XI Line 5 REGULAR RESERVE TRANSFERRED FROM MERGER WITH PCFCU IN THE AMOUNT OF 695,334 PLUS UNDIVIDED EARNINGS FROM PCFCU IN THE AMOUNT OF 396,322 LESS FAIR MARKET VALUE OF MERGED CREDIT UNION PCFCU IN THE AMOUNT OF 132,636