2019-09-25T09:59:45-05:00 2018-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2018-01-01 591009534 CENTRAL CREDIT UNION OF FLORIDA CENT 8504740970 PO BOX 17048 PENSACOLA FL 32522 CAROLYN DWELLE PRESIDENT/CEO 8504740970 2019-09-19 1 DOUGLAS J ORTH P01076394 3052328272 104.11.88.150 2019-09-19 17:29:10 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 A7DB26C3BB201601930FCFA0C4651552B54C26A2 2018 2019-02-21 02:37:17Z CAROLYN DWELLE 6200 NORTH W ST PENSACOLA FL 325051918 10515458 0 2106 X WWW.CCUFL.ORG X 1962 FL WE WILL SERVE THE NEEDS OF OUR MEMBERS BEYOND THEIR EXPECTATIONS. WE STRIVE TO ASSIST OUR MEMBERS WITH ALL OF THEIR FINANCIAL NEEDS AND PROVIDE SERVICE BEYOND THEIR EXPECTATIONS. 6 6 86 8 5249 1254 0 0 8380790 9440756 501219 630498 0 0 8882009 10071254 0 0 0 0 3958924 4435207 0 0 0 4385647 5439167 8344571 9874374 537438 196880 153393178 172731684 135682665 153631748 17710513 19099936 WE WILL SERVE THE NEEDS OF OUR MEMBERS BEYOND THEIR EXPECTATIONS. WE STRIVE TO ASSIST OUR MEMBERS WITH ALL OF THEIR FINANCIAL NEEDS AND PROVIDE SERVICE BEYOND THEIR EXPECTATIONS. 0 0 INCOME FROM THE CREDIT UNION MEMBERSHIP AND FROM THE INVESTMENT OF MEMBERS' FUNDS PROVIDE THE FOUNDATION FROM WHICH THE CREDIT UNION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP. ON NOVEMBER 1, 2018, CENTRAL CREDIT UNION OF FLORIDA MERGED 100 PERCENT OF THE ASSETS AND LIABILITIES OF PENSACOLA L&N FEDERAL CREDIT UNION. THE BUSINESS COMBINATION WAS A MUTUAL AGREEMENT BETWEEN CENTRAL CREDIT UNION OF FLORIDA AND PENSACOLA L&N FEDERAL CREDIT UNION IN ORDER TO BETTER THE AVAILABILITY OF QUALITY AND SERVICES FOR BOTH FIELDS OF 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 2848 0 1 86 1 1 1 0 0 0 0 0 0 0 X 6 6 0 0 1 0 1 1 1 1 1 0 0 0 1 1 1 0 1 1 1 0 X CENTRAL CREDIT UNION OF FLORIDA 8504740970 1200 E NINE MILE ROAD PENSACOLA FL 32514 JOHN SCOTT SECRETARY 10.00 X 0 0 0 JOHN KEITH V. CHAIRMAN 10.00 X 0 0 0 ANDREA KRIEGER CHAIRMAN 10.00 X 0 0 0 JUANITA ASHLEY DIRECTOR 10.00 X 0 0 0 RONNIE LABRATO TREASURER 10.00 X 0 0 0 JAMES DANNY GILMAN DIRECTOR 10.00 X 0 0 0 CAROLYN DWELLE CEO 40.00 X 162258 0 14100 KATHY BOSWELL VP/CFO 40.00 X 122500 0 13420 284758 0 27520 2 0 1 0 JACK HENRY & ASSOCIATES PO BOX 91101 SEATTLE WA 98111 SYSTEM SOFTWARE 144033 ACCESS SOFTWARE 727 ALISTON WAY SUITE C BECKELEY CA 94710 SOFTWARE 131409 2 INCOME ON LOANS 522100 5876326 5876326 FEES AND CHARGES 522100 3559181 3559181 UNRELATED BUSINESS INCOME 900099 5249 5249 9440756 674986 674986 399716 444204 -44488 -44488 -44488 10071254 9391019 5249 674986 X 312278 3287463 159404 387227 288835 138318 89348 71545 221345 1142095 549650 695685 50813 37395 542257 300164 76525 PROVISION FOR LOAN LOSS 769006 LOAN SERVICING 417756 MISCELLANEOUS 212549 EXAMINATION FEES 46981 77735 9874374 1771544 2249462 34494278 49519260 328675 341975 96441193 103622488 434175 354214 13342560 3909268 9438698 9433292 1617470 1139968 7103567 4462148 1763578 1608877 153393178 172731684 1737500 1718143 133945165 151913605 135682665 153631748 X 0 0 0 0 17710513 19099936 17710513 19099936 153393178 172731684 X 196880 -8980 1201523 X X 0 1 X 1 0 0 0 1440740 1440740 8897380 1814561 7082819 11215 5657 5558 2993225 2089050 904175 9433292 SHARE ACCOUNTS 60377832 SHARE DRAFT ACCOUNTS 43117156 IRA SHARE ACCOUNTS 2771130 SHARE AND IRA CERTIFICATE ACCOUNTS 27345959 MONEY MARKET ACCOUNTS 18301528 151913605 X 10115742 0 10115742 -44488 -44488 10071254 9918862 44488 44488 9874374 0 9874374 PART X, LINE 2: INCOME TAXES THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE (IRC) AND STATE TAX LAWS. THE INCOME TAXES TOPIC OF THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC) CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE FINANCIAL STATEMENTS. THE INTERPRETATION PROVIDES CRITERIA FOR ASSESSMENT OF INDIVIDUAL TAX POSITIONS AND A PROCESS FOR RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. TAX POSITIONS ARE EVALUATED ON WHETHER THEY MEET THE "MORE LIKELY THAN NOT" STANDARD FOR SUSTAINABILITY UPON EXAMINATION BY TAX AUTHORITIES. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION AS DEFINED IN IRC SECTION 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES DIRECTLY RELATED TO ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (UBI) DERIVED BY STATE-CHARTERED CREDIT UNIONS. BEGINNING IN MARCH 2008, THE INTERNAL REVENUE SERVICE (IRS) RELEASED TECHNICAL ADVICE MEMORANDUMS (TAMS) TO SPECIFIC STATE-CHARTERED CREDIT UNIONS SPECIFYING THE REVENUE SOURCES SUBJECT TO UNRELATED BUSINESS INCOME 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 2015 FEDERAL INCOME TAX RETURN IS BEING EXAMINED BY THE IRS. IN ADDITION, THE 2014 AND 2013 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. PART XI, LINE 4B - OTHER ADJUSTMENTS: LOSSES INCURRED ON SALE OF REPOS REPORTED WITHIN EXPENSES ON THE AUDITED FINANCIAL STATEMENTS BUT AS A REDUCTION OF REVENUE ON FORM 990 PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSSES INCURRED ON SALE OF REPOS REPORTED WITHIN EXPENSES ON THE AUDITED FINANCIAL STATEMENTS BUT AS A REDUCTION OF REVENUE ON FORM 990 X X 0 0 0 CAROLYN DWELLE CEO 162258 0 0 0 0 0 4154 0 9946 0 176358 0 0 0 FORM 990, PART VI, SECTION A, LINE 4 ON NOVEMBER 1, 2018, CENTRAL CREDIT UNION OF FLORIDA MERGED 100 PERCENT OF THE ASSETS AND LIABILITIES OF PENSACOLA L&N FEDERAL CREDIT UNION. THE BUSINESS COMBINATION WAS A MUTUAL AGREEMENT BETWEEN CENTRAL CREDIT UNION OF FLORIDA AND PENSACOLA L&N FEDERAL CREDIT UNION IN ORDER TO BETTER THE AVAILABILITY OF QUALITY AND SERVICES FOR BOTH FIELDS OF MEMBERSHIP. 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 THE MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11B THE PRESIDENT/CEO, VICE-PRESIDENT OF FINANCE, VICE-PRESIDENT OF COMPLIANCE AND VICE-PRESIDENT OF ADMINISTRATION WILL REVIEW AND APPROVE THE DRAFT FORM 990 BEFORE FINAL SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C THE VICE-PRESIDENT OF COMPLIANCE, UNDER DIRECTION OF THE PRESIDENT/CEO, MONITORS THE CONFLICT OF INTEREST POLICY FOR CENTRAL CREDIT UNION OF FLORIDA. THIS INCLUDES VENDOR MANAGEMENT, EMPLOYEE TRAINING AND MONITORING OF EMPLOYEE TRANSACTIONS. ALL NEW EMPLOYEES ARE GIVEN A CONFLICT OF INTEREST POLICY AS PART OF THE CODE OF CONDUCT. FORM 990, PART VI, SECTION B, LINE 15 THE REVIEW OF THE CEO'S COMPENSATION IS A FUNCTION OF THE BOARD OF DIRECTORS. ANNUALLY, THE BOARD OF DIRECTORS USES AN EXECUTIVE COMPENSATION SURVEY FROM AN INDEPENDENT THIRD PARTY TO DETERMINE THE CEO'S COMPENSATION. FOR ALL OTHER EMPLOYEES IN THE ORGANIZATION, PAY RANGES ARE REVIEWED AND APPROVED ON AN ANNUAL BASIS BY THE CEO UTILIZING DATA FROM AN INDEPENDENT COMPENSATION STUDY. 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 EDUCATION 45,960. OTHER LOSSES 21,988. ASSOCIATION DUES 9,787. FORM 990, PART XI, LINE 9: EQUITY ACQUIRED IN MERGER 1,201,523. 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.