2022-10-13T13:15:02-05:00 2021-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2021-01-01 590787574 STATE CHARTERED CREDIT UNIONS IN FLORIDA PRIORITY ONE CREDIT UNION OF FLORIDA STAT 9543355100 3000 N UNIVERSITY DRIVE SUNRISE FL 33322 DEANA HENNESSEY CEO 9543355100 2022-10-12 1 DEANA HENNESSEY XXX-XX-XXXX JOHN J MURNANE JR P03021572 3052328272 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z DEANA HENNESSEY 3000 N UNIVERSITY DRIVE SUNRISE FL 33322 5221520 0 2106 X WWW.PRIORITYONEFL.ORG X 1948 FL ENHANCING THE FINANCIAL LIVES OF OUR MEMBERS THROUGH CONSISTENT SERVICE. 6 6 34 9 21087 0 0 0 5302642 4896028 335429 325492 0 0 5638071 5221520 0 0 0 0 2355859 2312599 0 0 0 2866529 2450707 5222388 4763306 415683 458214 121410125 133810644 110290181 122513877 11119944 11296767 ENHANCING THE FINANCIAL LIVES OF OUR MEMBERS THROUGH CONSISTENT SERVICE. 0 0 PRIORITY ONE SERVES BROWARD COUNTY AND OFFERS A FULL ARRAY OF PRODUCTS AND SERVICES INCLUDING DEPOSITORY AND LOAN PRODUCTS, ATM/DEBIT PROGRAM, CAR BUYING PROGRAM AND ONLINE BANKING. WE ENDED THE YEAR WITH 9,561 MEMBERS. THERE WERE 1,399 LOANS GRANTED TOTALING $25,163,979. PRIORITY ONE HAS TWO BRANCH LOCATIONS AND A WIDE ARRAY OF REMOTE OPTIONS THROUGH OUR COOPERATION WITH VARIOUS ATM NETWORKS AND SHARED SERVICE CENTERS. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1627 0 1 34 1 1 1 0 0 0 0 0 0 0 X 6 6 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X BIRGITTA SCHINDLER 9543355100 3000 N UNIVERSITY DRIVE SUNRISE FL 33322 LEVORA HOLT VICE CHAIRPERSON 1.00 X 0 0 0 ALANA RAGOONAN BOARD MEMBER 1.00 X 0 0 0 GIL AMARA BOARD MEMBER/AUDIT COMMITT 1.00 X 0 0 0 JEROMY SCHWAB BOARD MEMBER 1.00 X 0 0 0 BARRY EKLE CHAIRPERSON 1.00 X 0 0 0 DESTINY DEJESUS BOARD SECRETARY/TREASURER 1.00 X 0 0 0 DEANA HENNESSEY CEO 40.00 X 137424 0 11119 BIRGITTA SCHINDLER CONTROLLER 40.00 X 74168 0 8207 211592 0 19326 1 0 0 0 FISERV PO BOX 745148 ATLANTA GA 30374 DATA PROCESSING 218135 PSCU 560 CARILLON PARKWAY ST PETERSBURG FL 33716 CREDIT CARD PROCESSING 180365 FISERV EFT 250 JOHNSON RD MORRIS PLAINS NJ 07950 ATM, DEBIT CARDS 174327 NCR CORPORATION PO BOX 740641 LOS ANGELES CA 90074 DIGITAL SOLUTIONS 173272 4 LOAN INTEREST INCOME 522100 3305186 3305186 FEE/OTHER INCOME 522100 1569755 1569755 FINANCE AND INSURANCE 520000 21087 21087 4896028 325492 325492 5221520 5200433 21087 0 X 230918 1695060 48580 135899 202142 10633 31200 163951 56702 272798 377674 187518 15233 177379 57974 116700 41920 LOAN SERVICING 365193 ATM/BANK SERVICE CHARGE 250988 DEBIT CARD EXPENSES 210299 COLLECTION EXPENSE 70813 43732 4763306 863342 613435 6768110 6554906 34179 63757 73824965 79152101 76384 121063 4421322 2848360 1653840 1572962 4051637 4113511 31447799 39515656 2689869 2103253 121410125 133810644 1102861 996428 109187320 121517449 110290181 122513877 X 0 0 0 0 11119944 11296767 11119944 11296767 121410125 133810644 458214 -281391 0 X X 0 1 X 1 0 788074 788074 2121370 349257 1772113 302317 1477354 -1175037 1209561 1021749 187812 1572962 LONG TERM CERTIFICATES OF DEPOSIT 14238000 C FHLB STOCK 60900 C CORPORATE ONE PERPETUAL CAPITAL 100567 C BOLI 457F 2390886 C CORPORATE AMERICA FED FUNDS 7755556 C MBS PREMIUM 127900 C UNREALIZED GAIN/LOSS -158153 C MORGAN STANLEY AFS 15000000 C 39515656 SHARE ACCOUNTS 62483982 SHARE DRAFT ACCOUNTS 32247966 MONEY MARKET ACCOUNTS 12955872 CLUB ACCOUNTS 1484502 IRA SHARE ACCOUNTS 2417554 IRA CERTIFICATES 1533995 CERTIFICATES 8393578 121517449 X 5221520 0 5221520 0 5221520 4763306 0 4763306 0 4763306 PART X, LINE 2: 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. 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 THE BOARD OF DIRECTORS. 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 FORM 990 IS REVIEWED BY THE CEO AND THE CONTROLLER PRIOR TO FILING. IT IS PRESENTED TO THE BOARD OF DIRECTORS SUBSEQUENT TO FILING. FORM 990, PART VI, SECTION B, LINE 12C WE HAVE NEW HIRES SIGN A NON-COMPETE/CONFIDENTIALITY AND A NON-PIRACY ACKNOWLEDGMENT FORM UPON THEM JOINING US. THE CREDIT UNION HAS "OVERRIDE" REPORTS THAT ARE REVIEWED BY THE COMPLIANCE DEPARTMENT WHEN EMPLOYEES TRANSACT ON FLAGGED RELATED-PARTY ACCOUNTS. FORM 990, PART VI, SECTION B, LINE 15 WE UTILIZE STAFFLINK TO PROVIDE US WITH COMPARABLE SALARY INFORMATION BY POSITION AND BY GEOGRAPHICAL AREA. WE ENSURE ALL OF OUR EMPLOYEES ARE PAID A FAIR AND COMPETITIVE SALARY. THIS PROCESS IS FOLLOWED FOR EVERY EMPLOYEE AND EVERY POSITION IN THE ORGANIZATION, INCLUDING THE CEO. WE REFRESH THE DATA EVERY 2-3 YEARS AS APPROPRIATE. EVERY EMPLOYEE IN THE CREDIT UNION IS CURRENTLY PAID WITHIN THE RECOMMENDED SALARY RANGES. FOR THE CEO POSITION, IN ADDITION TO STAFFLINK COMPARABLE DATA, THE BOARD OF DIRECTORS CONSULTS WITH OUR REGULATORY ATTORNEY TO OBTAIN COMPARABLE SALARY INFORMATION SPECIFIC FOR CREDIT UNION CEOS TO DETERMINE SALARY. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICIES ARE NOT MADE AVAILABLE TO THE PUBLIC. FINANCIAL STATEMENTS ARE MADE AVAILABLE ON THE NCUA WEBSITE VIA THE 5300 CALL REPORT FILING. FORM 990, PART IX, LINE 11G OTHER OUTSIDE AND PROFESSIONAL FEES 163,951. FORM 990, PART IX, LINE 24E ALL OTHER EXPENSES 47,673. NSF 18,298. OTHER LOSSES 5,495. PROVISION FOR LOAN LOSSES -27,734. 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.