2023-10-27T12:13:46-04:00 2022-12-31 592164330 Gerald E Creasman CPA PA 9200 S Dadeland Blvd Suite 504 Miami FL 33156 990 2022-01-01 590706843 INNOVATIONS FINANCIAL CREDIT UNION INNO 910 THOMAS DRIVE PANAMA CITY FL 32408 JEREMY HINTON CFO 8502490620 2023-05-08 true JEREMY HINTON Gerald E Creasman CPA P00428587 3055960903 2023-10-27 0 00 AAL1 IAL1 2022 2023-04-26 12:10:37Z X 22495868 false X X 1952 FL TO PROVIDE FINANCIAL AND LENDING SERVICES TO INDIVIDUALS AND BUSINESSES LOCATED WITHIN THE COUNTIES OF BAY, HOLMES, WASHINGTON, JACKSON, CALHOUN, GULF OF WALTON LOCATED IN THE STATE OF FLORIDA. 7 7 86 5 490458 0 0 14150468 455919 7889481 22495868 0 0 7803454 0 0 8143759 15947213 6548655 367562433 332156640 35405793 TO PROVIDE FINANCIAL AND LENDING SERVICES TO INDIVIDUALS AND BUSINESSES LOCATED WITHIN THE COUNTIES OF BAY, HOLMES, WASHINGTON, JACKSON, CALHOUN, GULF OF WALTON LOCATED IN THE STATE OF FLORIDA. false false 15947213 SINCE 1952 THE CREDIT UNION HAS ACHIEVED ITS GOAL OF PEOPLE HELPING PEOPLE BY ALWAYS PROVIDING SERVICE THAT EXCEEDS OUR MEMBERS EXPECTATIONS THROUGH EACH STAGE OF THEIR LIVES 15947213 false false false false false false false false false true false 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 0 0 true 86 true true true false false false false false false false false false false false false false 0 0 false false false X 7 7 false false true false true true false true true false true true true true true true true true true true false false X JEREMY HINTON 8502490620 910 THOMAS DRIVE PANAMA CITY FL 32408 DAVID SOUTHALL CEO 40.00 0.00 X 412846 0 5150 SCOTT GLADDEN EVPCOO 40.00 0.00 X 335512 0 7302 JEREMY HINTON SVPCFO 40.00 0.00 X 289377 0 0 DAVID POWELL DIR OF BUS & MTG LENDING 40.00 0.00 X 197892 0 0 DAN CHAPLIK DIR OF BRANCH OPERATION 40.00 0.00 X 192331 0 0 KENNY RAY MITCHELL MARKET LEADER 40.00 0.00 X 170000 0 0 ANGIE BURNETT DIRECTOR OF PROJECTS 40.00 0.00 X 162573 0 7110 RUTHIE PARKER MARKETING DIRECTOR 40.00 0.00 X 129224 0 0 KRISTOPHER MCLANE TREASURER 5.00 0.00 X 0 0 0 NANCY LUTHER VICE CHAIR 5.00 0.00 X 0 0 0 CRAIG ELLIS CHAIRMAN 5.00 0.00 X 0 0 0 JOSH SCRIBNER SECRETARY 5.00 0.00 X 0 0 0 KENNETH WHITE DIRECTOR 5.00 0.00 X 0 0 0 ROB FERNANDEZ DIRECTOR 5.00 0.00 X 0 0 0 ANITA BROUGHTON DIRECTOR 5.00 0.00 X 0 0 0 1889755 0 19562 8 false true false JACK HENRY AND ASSOCIATES INC PO BOX 609 MONETT MO 65708 CORE & CARD PROCES 792005 ACCESS SOFTEK INC 727 ALLSTON WAY STE C BERKELEY CA 94710 ONLINE BANKING 244491 DOXIM INC PO BOX 933472 CLEVELAND OH 44193 STATEMENTS 168600 MAINSTREET PROPERTY SERVICES 777 HUTCHISON ROAD CHIPLEY FL 32428 PROPERTY MANGMNT 167203 NOLES SCAPES 1520 MICHIGAN AVENUE LYNN HAVEN FL 32444 GROUND MAINT 154682 5 INTEREST ON LOANS 900099 14150468 13660010 490458 14150468 455919 455919 FEE INCOME 900099 7934730 7934730 OTHER INCOME LOSS 900099 -45249 -45249 7889481 22495868 22005410 490458 0 6038794 6038794 844436 844436 518367 518367 401857 401857 66725 66725 77814 77814 413044 413044 186514 186514 40549 40549 857943 857943 SEE ATTACHED SCHEDULE 6501170 6501170 15947213 15947213 0 0 3317656 21886834 1126805 315326388 718453 16918809 4371949 12546860 12639437 0 367562433 6778812 5006038 320371790 0 332156640 X 35405793 0 35405793 0 367562433 X 6548655 28857138 X false true X true false 5539211 5539211 7901209 2189760 5711449 3478389 2182189 1296200 12546860 NCUASIF 3061985 AUTOS OWNED 212814 OTHER ASSETS 9364638 12639437 MEMBER DEPOSITS 320371790 320371790 22495868 22495868 22495868 15947213 15947213 15947213 X X true true X X X X X false true false JEREMY HINTON SVPCFO 235913 53464 289377 DAVID SOUTHALL CEO 317034 89812 6000 1854 3296 417996 SCOTT GLADDEN EVPCOO 282048 53464 5794 1508 342814 DAN CHAPLIK DIR OF BRANCH OPERATION 176072 16259 192331 DAVID POWELL DIR OF BUS & MTG LENDING 176072 21820 197892 KENNY RAY MITCHELL MARKET LEADER 170000 170000 ANGIE BURNETT DIRECTOR OF PROJECTS 148720 13853 7110 169683 Organizational document changes Part VI line 4 CREDIT UNION APPLIED FOR AND WAS GRANTED CHANGE OF STATUS FROM A FEDERAL CREDIT UNION TO A STATE CHARTERED CREDIT UNION ON SEPTEMBER 1ST, 2022 Members or stockholder classes and rights Part VI line 6 THE CREDIT UNION HAS MEMBERS AND EACH MEMBER IS GRANTED A RIGHT TO VOTE Member election for additional members Part VI line 7a ANNUAL ELECTIONS ARE HELD AND ALL MEMBERS IN GOOD STANDING ARE ENTITLED TO VOTE FOR THE SLATE OF VOLUNTEERS THAT HAVE BEEN PLACED ON BALLOTS Form 990 governing body review Part VI line 11 ANNUAL TAX RETURNS ARE REVIEWED BY OFFICERS AND BOARD OF DIRECTORS Conflict of interest policy compliance Part VI line 12c THE ENFORCEMENT OF CONFLICTS OF INTEREST ARE CARRIED OUT BY THE ORGANIZATION. ANY CONFLICTS OF INTEREST RELATED TO OFFICERS AND DIRECTORS ARE REPORTED TO THE STATE AS PART OF ANNUAL REGULATORY AUDIT CEO executive director top management comp Part VI line 15a COMPENSATION FOR TOP OFFICIAL (CEO) IS COMPRISED OF BOTH A CREDIT UNION AND BANK PEER COMPARISON SURVEY. THE SURVEY IS PRESENTED TO THE BOARD OF DIRECTORS AND THE BOARD APPROVES THE SALARY OF THE CEO. THE CEO CONTRACT IS WRITTEN AND APPROVED BY THE BOARD OF DIRECTORS. Other officer or key employee compensation Part VI line 15b COMPENSATION FOR OFFICERS AND KEY EMPLOYEES IS DETERMINED USING CREDIT UNION AND BANK PEER COMPARISON SURVEY. THE INFORMATION IS PRESENTED TO THE BOARD OF DIRECTORS AND A SALARY RANGE OR INCREASES ARE APPROVED BY BOARD OF DIRECTORS. THE CEO THEN APPROVES ALL SALARY INCREASES BASED ON BOARD GUIDELINES Governing documents etc available to public Part VI line 19 GOVERNING DOCUMENTS, BYLAWS AND COPIES OF TAX RETURNS ARE MADE AVAILABLE BY REQUEST ONLY. THESE DOCUMENTS ARE PROVIDED IN COPY FORMAT WITHIN REASONABLE TIME FRAMES Explanation of other changes in net assets or fund balances Part XI line 9 THE CREDIT UNION HAS BEEN IN EXISTENCE SINCE 1952 UNDER THE NUCA AS A FEDERAL CREDIT UNION. IN SEPTEMBER 2022 THE CREDIT UNION APPLIED AND WAS ACCEPTD AS A STATE CHARTERED CREDIT UNION. THIS CHANGE REQUIRES THE CREDIT UNION TO FILE ITS OWN FORM 990 INDEPENDENT OF THE NCUA AND THUS THE NEED TO REPORT A BEGINNING BALANCE FOR UNDIVIDED EARNINGS