2020-09-24T12:58:40-05:00 2019-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2019-01-01 590787574 STATE CHARTERED CREDIT UNIONS IN FLORIDA PRIORITY ONE CREDIT UNION OF FLORIDA STAT 9543355100 3000 N UNIVERSITY DRIVE SUNRISE FL 33322 NANCY RAPPAPORT CEO 9543355100 2020-09-24 1 DOUGLAS J ORTH P01076394 3052328272 104.11.88.150 2020-09-24 12:07:11 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 B2EFC313AB4EEA4760135470907D022D8B217834 2019 2021-04-22 16:20:28Z NANCY RAPPAPORT 3000 N UNIVERSITY DRIVE SUNRISE FL 33322 6399582 0 2106 X WWW.PRIORITYONEFL.ORG X 1948 FL ENHANCING THE FINANCIAL LIVES OF OUR MEMBERS THROUGH CONSISTENT SERVICE. 6 6 35 7 30920 0 0 0 5536827 5926619 446174 422020 10144 0 5993145 6348639 0 0 0 0 2322160 2479727 0 0 0 2819629 2958371 5141789 5438098 851356 910541 96252288 99940781 86747903 89326886 9504385 10613895 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 9,849 MEMBERS. THERE WERE 1974 LOANS GRANTED TOTALING $24,642,681. 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 1 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 2578 0 1 35 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 0 1 1 1 1 1 0 X BIRGITTA SCHINDLER 9543355100 3000 N UNIVERSITY DRIVE SUNRISE FL 33322 LEVORA HOLT BOARD MEMBER 1.00 X 721 0 0 ALANA RAGOONAN AUDIT COMMITTEE CHAIR/BOAR 1.00 X 0 0 0 GIL AMARA BOARD MEMBER 1.00 X 0 0 0 JEROME SCHWAB VICE CHAIRMAN 1.00 X 0 0 0 BARRY EKLE CHAIRPERSON 1.00 X 0 0 0 CARIDAD GARCELL SECRETARY/TREASURER 1.00 X 0 0 0 DESTINY DEJESUS BOARD MEMBER 1.00 X 907 0 0 NANCY RAPPAPORT CEO 40.00 X 217553 0 66778 DEANA HENNESSEY EVP 40.00 X 129786 0 9687 BIRGITTA SCHINDLER CONTROLLER 40.00 X 79949 0 7841 428916 0 84306 2 0 1 0 FISERV 1250 GRUMMAN PL STE A TITUSVILLE FL 32780 DATA PROCESSING 239238 FISERV EFT 75 REMITTANCE DR STE 6974 CHICAGO IL 60675 ATM, SHARED SERVICE, DEBIT CARD NETWORKS 222815 PSCU 560 CARILLON PARKWAY ST PETERSBURG FL 33716 CREDIT CARD PROCESSING 184804 NCR CORPORATION PO BOX 740641 LOS ANGELES CA 90074 HOME BANKING 162748 4 LOAN INTEREST INCOME 522100 4118151 4118151 FEE/OTHER INCOME 522100 1777548 1777548 EXTENDED WARRANTY 524298 18920 18920 NON-MEMBER ATM FEES 900099 12000 12000 5926619 404663 404663 68300 50943 17357 17357 17357 6348639 5913056 30920 404663 X 513222 1526865 112409 123476 203755 18593 30880 87876 70839 285317 385986 187631 53698 376267 51061 142895 34019 LOAN SERVICING 514655 PROVISION FOR LOAN LOSS 259099 DEBIT CARD EXPENSES 216595 ATM/BANK SERVICE CHARGE 164177 78783 5438098 806208 841137 5656825 5673112 60733 129461 72256126 78260985 84323 71622 4271194 2707488 1603603 1563706 4410091 3704592 9445483 7104730 1928896 2591436 96252288 99940781 1672814 1541549 85075089 87785337 86747903 89326886 X 0 0 0 0 9504385 10613895 9504385 10613895 96252288 99940781 910541 198969 0 X X 0 1 X 1 0 657 657 657 1 FLORIDA CREDIT UNION POLITICAL ACTION COMMITTEE 3692 COOLIDGE COURT TALLAHASSEE FL 32311 591889104 657 788074 788074 594380 322572 271808 1706378 1397970 308408 1182362 986946 195416 1563706 LONG TERM CERTIFICATES OF DEPOSIT 1416000 C FHLB STOCK 86800 C CORPORATE ONE PERPETUAL CAPITAL 100567 C BOLI 457F 2274802 C CORPORATE AMERICA FED FUNDS 3169702 C MBS PREMIUM 23987 C UNREALIZED GAIN/LOSS 32872 C 7104730 SHARE ACCOUNTS 41635942 SHARE DRAFT ACCOUNTS 21538336 MONEY MARKET ACCOUNTS 10303627 CLUB ACCOUNTS 862223 IRA SHARE ACCOUNTS 2144277 IRA CERTIFICATES 2018816 CERTIFICATES 9282116 87785337 X 6348639 0 6348639 0 6348639 5438098 0 5438098 0 5438098 PART X, LINE 2: BEGINNING IN MARCH 2008, THE INTERNAL REVENUE SERVICE (IRS) RELEASED TECHNICAL ADVICE MEMORANDUMS TO SPECIFIC STATE-CHARTERED CREDIT UNIONS SPECIFYING THE REVENUE SOURCES SUBJECT TO UBI TAX. UBI MAY ALSO BE SUBJECT TO TAX IN CERTAIN STATES. MANAGEMENT HAS ASSESSED THE CREDIT UNION'S 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 2017, 2016, AND 2015 FEDERAL INCOME TAX RETURNS ARE OPEN FOR EXAMINATION 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. X 1 1 X X X 0 1 0 NANCY RAPPAPORT CEO 206478 0 5075 0 6000 0 66325 0 453 0 284331 0 0 0 PART I, LINE 4B NANCY RAPPAPORT PARTICIPATES IN A 457(F) PLAN. THE CREDIT UNION ACCRUED BENEFITS OF $57,965 DURING 2019 FOR NANCY RAPPAPORT. 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 THE CREDIT UNION'S CEO WILL REVIEW THE FORM 990 PRIOR TO FILING WITH THE IRS. 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 MAKE SURE THAT ALL OUR POSITIONS HAVE A FAIR AND COMPETITIVE SALARY RANGE AND THAT OUR EMPLOYEES ARE PAID WITHIN THAT RANGE. THIS PROCESS IS FOLLOWED FOR EVERY EMPLOYEE AND EVERY POSITION IN THE ORGANIZATION, INCLUDING THE CEO, EVP AND VP AND 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 ALSO CONSULTED WITH OUR REGULATORY ATTORNEY TO OBTAIN COMPARABLE SALARY INFORMATION SPECIFIC FOR CREDIT UNION CEOS AND UTILIZED THAT INFORMATION WHEN DETERMINING HER SALARY AND RENEWING HER CONTRACT. 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 87,876. 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.