2021-11-03T21:02:46-05:00 2020-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2020-01-01 590747276 UNIVERSITY CREDIT UNION UNIV 7864255000 13241 SW 136 ST MIAMI FL 331865822 ALBERT E ROSE EVP/COO 7864255024 2021-11-03 1 ALBERT ROSE 999009999 DOUGLAS J ORTH P01076394 3052328272 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z MICHAEL J WELCH SR 13241 SW 136 STREET MIAMI FL 33186 7581620 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. 9 9 53 11 31083 0 0 0 5874972 5578053 2456719 2003567 0 0 8331691 7581620 0 0 0 0 3345185 3089435 0 0 0 3919000 4267141 7264185 7356576 1067506 225044 209679627 244482232 189421927 222898202 20257700 21584030 X TO PROVIDE A VARIETY OF QUALITY FINANCIAL SERVICES FOR OUR MEMBERS TO IMPROVE THEIR FINANCIAL STATUS. 1 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 1 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 3066 0 1 53 1 1 1 0 0 0 0 0 0 0 X 9 9 1 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X THOMAS SMITH 7864255000 13241 SW 136 STREET MIAMI FL 33186 REMBERTO SANCHEZ CHAIRMAN 5.00 X 0 0 0 HUMBERTO SPEZIANI VICE CHAIRMAN 5.00 X 0 0 0 BENJAMIN SALZ TREASURER 5.00 X 0 0 0 DR SCOTT INGOLD SECRETARY 5.00 X 0 0 0 BOB BURNS BOARD MEMBER 5.00 X 0 0 0 STEWART SERUYA 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 40.00 X 305373 0 41974 ALBERT E ROSE EVP/COO 40.00 X 165341 0 261007 ERIC J HOSKINS SVP-CIO 40.00 X 116779 0 100514 THOMAS SMITH VP/CONTROLLER 40.00 X 46658 0 2492 634151 0 405987 3 0 1 0 FISERV PO BOX 208457 DALLAS TX 753208457 CORE PROCESSOR, HOME BANKING, BILL PAYER 638622 PSCU 560 CARILLON PARKWAY ST PETERSBURG FL 33716 CREDIT CARD PROCESSING 181639 MIAMI DADE TAX COLLECTOR 200 NW 2 AVENUE MIAMI FL 33128 PROPERTY TAXES 121632 AT&T PO BOX 64 CAROL STREAM IL 60197 PHONE/INTERNET SERVICES 104182 PUBLIC HEALTH TRUST 1500 NW 12TH AVE SUITE 816 MIAMI FL 33136 MEDICAL BRANCH LESSOR 103665 5 INCOME ON LOANS 522100 3947286 3947286 FEES AND CHARGES 522100 1599684 1599684 FINANCE & INSURANCE 520000 31083 31083 5578053 2003567 2003567 7581620 7550537 31083 0 X 1040138 1517212 68109 311430 152546 34217 59820 253704 92982 257525 374981 263748 2318 15033 354077 280610 178077 PROVISION FOR LOAN LOSS 749358 LOAN SERVICING 431813 DEBIT/ATM 349259 E-BRANCH/BILLPAY 257914 311705 7356576 992458 798794 39916841 40326285 402298 1487981 80660058 102807487 247410 201883 15691898 5912777 9611206 9779121 36921142 56288882 35018654 25084836 833 333 5908727 7706630 209679627 244482232 2791721 3685832 186630206 219212370 189421927 222898202 X 0 0 0 0 20257700 21584030 20257700 21584030 209679627 244482232 225044 1101286 0 X X 0 1 X 1 0 3001502 3001502 8422046 2207176 6214870 691009 605628 85381 3577341 3099973 477368 9779121 FHLB STOCK 273800 C CERTIFICATES OF DEPOSIT - LONG TERM 24585000 C PCC CORPORATE ONE FCU 226036 C 25084836 SHARE DRAFTS 67491393 SHARES AND CLUBS 80637836 MONEY MARKET 44979201 IRA SHARES 4665308 SHARES AND IRA CERTIFICATES 21438632 219212370 X 7581620 0 7581620 0 7581620 7356576 0 7356576 0 7356576 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 EVP/COO 160726 0 0 0 4615 0 241426 0 19581 0 426348 0 0 0 MICHAEL J WELCH SR PRESIDENT/CEO 298173 0 0 0 7200 0 27332 0 14642 0 347347 0 0 0 ERIC J HOSKINS SVP-CIO 116589 0 0 0 190 0 100514 0 0 0 217293 0 0 0 PART I, LINE 4B THREE EMPLOYEES PARTICIPATE IN A 457(F) PLAN, MICHAEL J. WELCH SR., ALBERT E. ROSE, AND ERIC HOSKINS. DURING 2020, NO 457(F) BENEFIT PAYOUTS WERE DISTRIBUTED. FORM 990, PART III, LINE 2 THE CREDIT UNION IMPLEMENTED NEW E-BANKING THROUGH Q2 (MOBILE BANKING) DURING 2020. FORM 990, PART VI, SECTION A, LINE 2 FAMILY RELATIONSHIP - BOD SECRETARY REMBERTO SANCHEZ IS THE SON-IN-LAW OF BOD V. 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 VP/CONTROLLER AND THE HR PROFESSIONAL. INFORMATION IS SENT TO OUR AUDITORS, DOEREN MAYHEW TO COMPLETE THE FORM. IT IS THEN REVIEWED BY THE VP/CONTROLLER AND EVP COO AND POSSIBLY BY THE 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 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 BOD. 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 MAINTENANCE 143,683. TAXES 124,964. MISCELLANEOUS EXPENSE 43,058. 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.