2024-10-29T15:14:33-05:00 2023-12-31 382492570 DOEREN MAYHEW 8785 SW 165TH AVENUE SUITE 303 MIAMI FL 33193 990 2023-01-01 590747276 STATE CHARTERED CREDIT UNIONS IN FLORIDA UNIVERSITY CREDIT UNION STAT 7864255000 13241 SW 136 ST MIAMI FL 331865822 ERIC J HOSKINS EVP/CIO 7864255010 2024-10-24 1 0 JOHN J MURNANE P03021572 3052328272 2024-10-08 2023 2024-10-15 13:58:12Z UNIVERSITY CREDIT UNION ALBERT E ROSE 13241 SW 136 STREET MIAMI FL 33186 9626124 0 2106 X WWW.MYUNICU.COOP X 1947 FL THE MISSION OF UNIVERSITY CREDIT UNION IS TO PROVIDE A VARIETY OF QUALITY FINANCIAL SERVICES FOR OUR MEMBERS TO IMPROVE THEIR FINANCIAL STATUS. 8 8 53 10 37643 0 0 0 5743305 6688048 2283769 2938076 0 0 8027074 9626124 0 0 0 0 3132405 3279963 0 0 0 4124057 5328843 7256462 8608806 770612 1017318 261583999 255503563 253338158 244391690 8245841 11111873 TO BE THE FINANCIAL INSTITUTION OF CHOICE IN THE COMMUNITIES WE SERVE, WHILE EXPANDING OUR FIELD OF MEMBERSHIP AND GROWING OUR MEMBER BASE. 0 0 INCOME FROM CREDIT UNION MEMBERSHIP AND FROM INVESTMENT OF MEMBERS' FUNDS PROVIDE THE FOUNDATION FROM WHICH THE CREDIT UNION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP. 0 0 0 0 0 0 0 0 0 1 0 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 3169 0 1 53 1 1 1 0 0 0 0 0 0 0 X 8 8 1 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X UNIVERSITY CREDIT UNION 7864255000 13241 SW 136 STREET MIAMI FL 33186 REMBERTO SANCHEZ SECRETARY 5.00 X 0 0 0 HUMBERTO SPEZIANI TREASURER 5.00 X 0 0 0 BENJAMIN SALZ VICE CHAIRMAN 5.00 X 0 0 0 DR SCOTT INGOLD CHAIRMAN 5.00 X 0 0 0 BOB BURNS BOARD MEMBER 5.00 X 0 0 0 THOMAS SANTORO BOARD MEMBER 5.00 X 0 0 0 NICHOLAS DICIACCO BOARD MEMBER 5.00 X 0 0 0 ALEX COLLINS BOARD MEMBER 5.00 X 0 0 0 ANTHONY MUSTO ASSOCIATE BOARD MEMBER 5.00 X 0 0 0 KATHIE ALEXANDER ASSOCIATE BOARD MEMBER 5.00 X 0 0 0 MICHAEL J WELCH SR PRESIDENT/CEO (1/1/2023 - 4/30/2023) 40.00 X 185997 0 16416 ALBERT E ROSE PRESIDENT/CEO (5/1/2023- 12/31/2023) 40.00 X 255757 0 141490 ERIC J HOSKINS EVP/CIO 40.00 X 197364 0 15376 JOHAN MOLINA AVP ACCOUNTING 40.00 X 86116 0 9942 RICCARDO FRANCOIS AVP LENDING 40.00 X 133278 0 11083 858512 0 194307 4 0 1 0 FISERV PO BOX 208457 DALLAS TX 753208457 CORE PROCESSOR, HOME BANKING, BILL PAYER 440609 Q2 SOFTWARE INC 10355 PECAN PARK BLVD AUSTIN TX 78729 SOFTWARE 261459 PSCU 560 CARILLON PARKWAY ST PETERSBURG FL 33716 CREDIT CARD PROCESSING 250805 MIAMI DADE TAX COLLECTOR 200 NW 2 AVENUE MIAMI FL 33128 PROPERTY TAXES 141966 PUBLIC HEALTH TRUST 1500 NW 12TH AVE SUITE 816 MIAMI FL 33136 MEDICAL BRANCH LEASE 128573 5 INCOME ON LOANS 522100 5075167 5075167 FEES AND CHARGES 522100 1575238 1575238 FINANCE & INSURANCE 520000 37643 37643 6688048 2938076 2938076 9626124 9588481 37643 0 X 908458 1840760 47724 283433 199588 22458 71872 133601 203539 235881 341653 301276 3679 39910 1749580 202702 203561 LOAN SERVICING 507380 DEBIT/ATM 398098 E-BRANCH/BILLPAY 309551 MAINTENANCE 204889 399213 8608806 1072702 945277 32161108 41989383 732306 803202 110911476 108028624 277018 242034 15943134 6852117 9364519 9091017 89817419 80514871 11074836 6533546 6172615 7355609 261583999 255503563 4537918 3906508 9166667 25416667 239633573 215068515 253338158 244391690 X 0 0 0 0 8245841 11111873 8245841 11111873 261583999 255503563 X 1017318 2148714 -300000 X X 0 1 X 1 0 3001502 3001502 8274383 2684336 5590047 708667 528755 179912 3958582 3639026 319556 9091017 SHARE DRAFTS 63661819 SHARES AND CLUBS 78611167 MONEY MARKET 35293823 IRA SHARES 4927925 SHARES CERTIFICATES 32573781 215068515 X 9626124 0 9626124 0 9626124 8608806 0 8608806 0 8608806 PART X, LINE 2: INCOME TAXES THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL INCOME TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE (IRC) AND STATE TAX LAWS. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME DERIVED BY STATE-CHARTERED CREDIT UNIONS. GENERALLY, THESE TAXES ARE INSIGNIFICANT TO THE CREDIT UNION. 1 X X 0 1 0 ALBERT E ROSE PRESIDENT/CEO (5/1/2023- 12/31/2023) 235790 0 12217 0 7750 0 116619 0 24871 0 397247 0 0 0 ERIC J HOSKINS EVP/CIO 140586 0 6220 0 50558 0 15376 0 0 0 212740 0 50558 0 MICHAEL J WELCH SR PRESIDENT/CEO (1/1/2023 - 4/30/2023) 155002 0 27095 0 3900 0 4268 0 12148 0 202413 0 0 0 PART I, LINE 4B THE FOLLOWING EMPLOYEES PARTICIPATE IN A 457(F) PLAN: ALBERT E. ROSE, PRESIDENT/CEO ERIC HOSKINS EVP/COO RICCARDO FRANCOIS, AVP OF LENDING ERIC HOSKINS RECEIVED A BENEFIT PAYOUT IN THE AMOUNT OF 50,558 DURING 2023. THE INCREASE IN THE 457F PLAN BENEFITS LIABILITY RECORDED DURING 2023 FOR EACH OF THE PARTICIPANTS IS INCLUDED IN THE AMOUNTS REPORTED IN PART VII, COLUMN F AND SCH J, COLUMN C. FORM 990, PART VI, SECTION A, LINE 2 FAMILY RELATIONSHIP - BOARD SECRETARY, REMBERTO SANCHEZ IS THE SON-IN-LAW OF BOARD CHAIRMAN, SCOTT INGOLD. 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 PARTICIPATE IN THE ELECTION OF OFFICIALS. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11B THE FORM IS PREPARED IN PART BY THE AVP OF ACCOUNTING AND THE AVP OF HUMAN RESOURCES AND TRAINING. INFORMATION IS SENT TO THE PREPARER, DOEREN MAYHEW, TO COMPLETE THE FORM. IT IS THEN REVIEWED BY THE AVP OF ACCOUNTING, THE AVP OF HUMAN RESOURCES AND TRAINING, THE EXECUTIVE VICE PRESIDENT/CHIEF INFORMATION OFFICER, AND PRESIDENT/CEO BEFORE THE FINAL FILING. FORM 990, PART VI, SECTION B, LINE 12C THE STANDARDS OF CONDUCT POLICY IS SENT TO ALL TEAM MEMBERS AND ALL MEMBERS OF THE BOARD OF DIRECTORS TO REVIEW AND SIGN ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS SETS GOALS AND HAS AN ANNUAL REVIEW FOR THE PRESIDENT/CEO AND THEY DETERMINE THE PRESIDENT/CEO'S SALARY. ALL OTHER EMPLOYEES RECEIVE A REVIEW EVERY DECEMBER AND THAT IS WHEN THE ANNUAL RAISES ARE DETERMINED BASED ON THE PERFORMANCE OF THE EMPLOYEE AND THE RAISE POOL APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S CONFLICT OF INTEREST POLICY IS NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S FINANCIAL STATEMENTS ARE MADE AVAILABLE FOR PUBLIC VIEWING ON NCUA.GOV VIA THE QUARTERLY 5300 FILING. FORM 990, PART IX, LINE 24E PROVISION FOR LOAN LOSSES 196,265. TAXES 141,966. MISCELLANEOUS EXPENSE 60,982. FORM 990, PART XI, LINE 9: CUMULATIVE EFFECT FROM CHANGE IN ACCOUNTING PRINCIPLE -300,000. FORM 990, PART XII, LINE 2C THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR.