2019-11-08T15:55:01-06:00 2018-12-31 910189318 MOSS ADAMS LLP 2707 COLBY AVENUE SUITE 801 EVERETT WA 98201 990 2018-01-01 590291451 SUNCOAST CREDIT UNION SUNC 8009995887 6801 EAST HILLSBOROUGH AVE TAMPA FL 33610 JULIE RENDEROS EVP/CFO 8009995887 2019-10-28 1 COLLEEN RAMIRES P01251320 4252597227 2019-10-28 12.129.4.211 2019-10-28 14:48:19 PD P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 07D962CAD7C2343BC8DC703B9E740CE903356D52 2018 2020-04-17 16:48:07Z KEVIN JOHNSON 6801 EAST HILLSBOROUGH AVE TAMPA FL 33610 445036485 0 X WWW.SUNCOASTCREDITUNION.COM X 1934 FL TO IMPROVE THE QUALITY OF OUR MEMBERS' LIVES THROUGH STRENGTH, SECURITY, AND INNOVATION. 11 11 1920 11 2320943 807853 0 0 353432476 416647172 25429160 25941148 1765361 2320943 380626997 444909263 637067 610352 0 0 97329411 109900151 0 0 0 209521317 233443156 307487795 343953659 73139202 100955604 8739586217 9290333449 7983298665 8432890884 756287552 857442565 THE CREDIT UNION'S MISSION IS TO IMPROVE THE QUALITY OF OUR MEMBERS' LIVES BY MAINTAINING A STRONG, SECURE, AND INNOVATIVE CREDIT UNION THAT BUILDS TRUST, SHOWS RESPECT, AND MAXIMIZES EFFICIENCY. 0 0 THE CREDIT UNION OFFERS OUR MEMBERS A SOURCE OF CREDIT THROUGH VARIOUS TYPES OF LOANS, INCLUDING MORTGAGE, AUTO, AND PERSONAL. INTEREST RATE FOR OUR LOANS ARE COMPETITIVE IN OUR LOCAL MARKETS. THE CREDIT UNION OFFERS COMPETITIVE SAVINGS PRODUCTS TO OUR MEMBERS WITH INTEREST RATES THAT ARE COMPETITIVE WITHIN OUR LOCAL MARKETS ON INTEREST BEARING ACCOUNTS AND CERTIFICATES OF DEPOSIT. SERVICE FEES CHARGED BY THE CREDIT UNION FOR OUR PRODUCTS ARE GENERALLY LOWER THAN OUR LOCAL COMPETITION OR HAVE BEEN ELIMINATED. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 219734 0 1 1920 1 1 1 0 0 0 0 0 0 0 0 0 X 11 11 0 0 1 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X JULIE RENDEROS EVPCFO 8009995887 6801 EAST HILLSBOROUGH AVE TAMPA FL 33610 ANTHONY SACHEL CHAIR OF THE BOARD 1.00 1.00 X X 2737 0 0 ZAMIR L ODE VICE CHAIR OF THE BOARD 1.00 1.00 X X 984 0 0 JOUNICE NEALY-BROWN SECRETARY OF THE BOARD 1.00 1.00 X X 1259 0 0 GARY C GRESHAM TREASURER OF THE BOARD 1.00 1.00 X X 754 0 0 VICTOR ARIAS DIRECTOR 2.00 0.00 X 1536 0 0 ANDREA FALVEY DIRECTOR 2.00 0.00 X 0 0 0 MILDRED HARVEY DIRECTOR 2.00 0.00 X 1736 0 0 MARC JOHNSON DIRECTOR 2.00 0.00 X 0 0 0 VELIA PEDRERO DIRECTOR 2.00 0.00 X 2761 0 0 SUSAN C TURNER DIRECTOR 2.00 0.00 X 600 0 0 MANUEL LOPEZ DIRECTOR 2.00 0.00 X 0 0 0 BRIAN FELDMAN DIRECTOR - THRU 5/18 2.00 0.00 X 0 0 0 PETER FLYNN DIRECTOR - THRU 1/18 2.00 0.00 X 0 0 0 KEVIN D JOHNSON PRESIDENT/CEO 50.00 1.00 X 609292 0 112887 JULIE A RENDEROS EXECUTIVE VP/CFO 50.00 0.00 X 436324 0 76570 VICTORIA G LOVETT CHIEF LENDING OFFICER 50.00 1.00 X 264410 0 61856 GARY J VIEN CHIEF ADMINISTRATION OFFICER 50.00 0.00 X 255038 0 75504 HAROLD E HASSENFELT CHIEF INFORMATION OFFICER 50.00 0.00 X 206767 0 54516 DARLENE A JOHNSON CHIEF OPERATING OFFICER 50.00 0.00 X 237203 0 70522 MELVA L MCKAY-BASS SR VP BUSINESS DEVELOPMENT 38.00 2.00 X 241523 0 71467 DAVID A EVANS SR FINANCIAL ADVISOR 40.00 0.00 X 226210 0 33861 ROY W ECHOLS VP OF TRUST & INVESTMENT SERVICES 40.00 0.00 X 221618 0 33847 DONALD D BURT SR FINANCIAL ADVISOR 40.00 0.00 X 294729 0 38289 SHERI L EATON SR VP SERVICE CENTER OPERATIONS 40.00 0.00 X 217603 0 50787 3223084 0 680106 56 0 1 0 KASS SHULER PA PO BOX 800 TAMPA FL 33601 LEGAL SERVICE ATTORNEY 911525 GCA SERVICES GROUP PO BOX 534198 ATLANTA GA 303534198 JANITORIAL SERVICES 732349 HEPNER ARCHITECTS 601 SOUTH BOULEVARD - SUITE 101 TAMPA FL 33606 ARCHITECTS 623642 WETHERINGTON HAMILTON & HARRISON PA 812 W DR MLK JR BLVD - SUITE 101 TAMPA FL 33603 ATTORNEY 391191 LAW OFFICES OF DANIEL CONSUEGRA 9204 KING PALM DR TAMPA FL 336191328 COLLECTIONS ATTORNEYS 347912 12 INTEREST ON LOANS 522100 280405167 280405167 SERVICE FEES & MISC 522100 135724007 135724007 GAIN ON REAL ESTATE 531390 513299 513299 GAIN ON SALE OF LOANS 523000 4699 4699 416647172 25451842 25451842 616528 127222 489306 489306 489306 UNRELATED BUSINESS INCOME 522100 2320943 2320943 2320943 444909263 416647172 2320943 25941148 610352 2473257 83004345 4185083 14064463 6173003 356710 282519 138163 4421830 8169723 9681089 12210216 653784 556415 66031811 14154724 1752693 LOAN LOSS 50720000 CREDIT CARD & REWARD FE 26011929 FRAUD EXPENSE 8429677 ATM FEES 4413361 25458512 343953659 213365354 180404360 111553241 226141567 21017798 15318788 6348256873 7299160481 19511554 20823529 302121779 127213066 148883562 174908713 1612976838 1135126720 128005994 124530431 4760417 4635417 131254586 109283443 8739586217 9290333449 123466572 383011260 9245592 12779860 250000000 100000000 1000000 600000 7599586501 7936499764 7983298665 8432890884 X 0 0 0 0 756287552 857442565 756287552 857442565 8739586217 9290333449 100955604 199410 0 X 0 1 X 1 0 0 1 X 34095970 34095970 149865695 44038073 105827622 6395826 5130558 1265268 98347254 68232083 30115171 13417034 9812352 3604682 174908713 MEMBERS SHARE AND SAVINGS ACCOUNTS 7932640437 OTHER LIABILITIES 2342688 DIVIDENDS PAYABLE 1516639 7936499764 X PART IV, LINE 2B: THE CREDIT UNION HOLDS ESCROWED FUNDS FOR THE PAYMENT OF PROPERTY TAXES AND HOMEOWNERS' INSURANCE AS A SERVICE TO OUR MEMBERS WHO HAVE MORTGAGES WITH THE CREDIT UNION OR HAVE MORTGAGES SERVICED BY THE CREDIT UNION. PART X, LINE 2: THE CREDIT UNION IS EXEMPT BY STATUTE FROM FEDERAL AND STATE INCOME TAXES UNDER INTERNAL REVENUE CODE (IRC) 501(C)(14). ACCORDINGLY, A PROVISION FOR INCOME TAXES HAS NOT BEEN MADE. THE CREDIT UNION ALSO WHOLLY OWNS MEMBERS TITLE AGENCY, LLC; MEMBERS INSURANCE CENTER, LLC; AND SUNCOAST REALTY SOLUTIONS, LLC. UNDER CURRENT INTERNAL REVENUE SERVICE REGULATIONS, THE INCOME OF THE LLC ACCRUES TO THE OWNER, SUNCOAST CREDIT UNION, AND, THEREFORE, IS NOT SUBJECT TO INCOME TAX. HOWEVER, WITH THE CONVERSION TO STATE CHARTER FROM FEDERAL CHARTER EFFECTIVE DECEMBER 31, 2013, THE CREDIT UNION IS NOW SUBJECT TO THE PROVISIONS OF THE FEDERAL INCOME TAX CODE RELATED TO UNRELATED BUSINESS INCOME TAX. THE CREDIT UNION WAS CONTACTED BY THE INTERNAL REVENUE SERVICE (IRS) IN AUGUST 2017 REGARDING A SUBSTANTIAL PROPOSED PENALTY FOR THE 2015 INFORMATION RETURNS. THE CREDIT UNION DETERMINED THAT THE FORMS WERE SENT TO ITS MEMBERS, BUT A SYSTEM ERROR OCCURRED WITH THE PLACEMENT OF THE INFORMATION ON THE FORM. AS THE CREDIT UNION HAS TIMELY FILED ALL REQUIRED DOCUMENTS, WITH THE ERRORS BEING INCONSEQUENTIAL AND NO INTENTIONAL NEGLIGENCE, THE IRS AGREED WITH THE CREDIT UNION'S POSITION AND DID NOT IMPOSE THIS PENALTY. IN AUGUST 2018, THE CREDIT UNION RECEIVED A SIMILAR PENALTY ASSESSMENT LETTER FROM THE IRS FOR THE 2016 INFORMATION RETURNS FOR THE SAME SYSTEM ERROR. THE CREDIT UNION AGAIN REPLIED TO THE IRS REQUESTING AN ABATEMENT TO THE PENALTY FOR THE SAME REASONS AND WAS SUCCESSFUL IN GETTING THE IRS TO WAIVE THE FULL PENALTY FOR THE 2016 TAX YEAR. 0 UNITED WAY 5201 W KENNEDY BLVD TAMPA FL 33609 593725701 501( C) 3 100000 FUND PROGRAM TO IMPROVE CONSUMERS FINANCIAL LIVES THROUGH CREDIT UNIONS ARBOR DAY FOUNDATION 211 NORTH 12TH STREET LINCOLN NE 68508 237169265 501( C) 3 25000 FUNDS TO PLANT TREES TO REDUCE CARBON EMISSIONS SUNCOAST CU FOUNDATION 6801 E HILLSBOROUGH AVE TAMPA FL 33610 593037324 501( C) 3 217661 FUNDING EDUCATION & MEDICAL NEEDS OF CHILDREN IN FLORIDA LEAGUE OF SOUTHEASTERN CU FOUNDATION 3692 COOLIDGE COURT TALLAHASSEE FL 32311 592252733 501( C) 3 36277 TO PROVIDE ASSISTANCE TO SMALLER CREDIT UNIONS NATIONAL CREDIT UNION FOUNDATION 5710 MINERAL POINT RD MADISON WI 53705 391383650 501( C) 3 123830 TO FUND PROGRAMS THAT HELP IMPROVE CONSUMER'S FINANCIAL LIVES WORLD WIDE FOUNDATION FOR CUS PO BOX 2982 MADISON WI 53701 396093210 501( C) 3 10000 TO CREATE LONG LASTING OPPORTUNIES FOR THE WORLD'S WORKING POOR AMERICAN CANCER SOCIETY 3709 W JETTON AVE TAMPA FL 33609 131788491 501( C) 3 17500 TO RAISE FUNDS FOR CANCER RESEARCH CREDIT UNION MIRACLE DAY INC 8975 GUILFORD RD COLUMBIA MD 21046 532341329 501( C) 3 10000 CREDIT UNIONS SUPPORTING CHILDREN'S MIRACLE NETWORK HOSPITALS. TAMPA BAY AREA CREDIT UNION FOR KIDS INC 6801 E HILLSBOROUGH AVE TAMPA FL 33610 203068168 501( C) 3 50000 TO RAISE FUNDS FOR THE AUTISM CENTER AT ALL CHILDREN'S HOSPITAL 9 0 X 1 1 X X X 0 0 0 KEVIN D JOHNSON PRESIDENT/CEO 534789 0 36355 0 38148 0 92529 0 20358 0 722179 0 29661 0 JULIE A RENDEROS EXECUTIVE VP/CFO 289785 0 132100 0 14439 0 55786 0 20784 0 512894 0 26321 0 VICTORIA G LOVETT CHIEF LENDING OFFICER 227029 0 27530 0 9851 0 51908 0 9948 0 326266 0 22283 0 GARY J VIEN CHIEF ADMINISTRATION OFFICER 216892 0 27160 0 10986 0 46624 0 28880 0 330542 0 21955 0 HAROLD E HASSENFELT CHIEF INFORMATION OFFICER 201850 0 0 0 4917 0 31395 0 23121 0 261283 0 0 0 DARLENE A JOHNSON CHIEF OPERATING OFFICER 211171 0 21494 0 4538 0 46561 0 23961 0 307725 0 0 0 MELVA L MCKAY-BASS SR VP BUSINESS DEVELOPMENT 206810 0 25757 0 8956 0 42832 0 28635 0 312990 0 20924 0 DAVID A EVANS SR FINANCIAL ADVISOR 44361 0 181666 0 183 0 11626 0 22235 0 260071 0 0 0 ROY W ECHOLS VP OF TRUST & INVESTMENT SERVICES 122289 0 96500 0 2829 0 11610 0 22237 0 255465 0 0 0 DONALD D BURT SR FINANCIAL ADVISOR 44416 0 250230 0 83 0 15328 0 22961 0 333018 0 0 0 SHERI L EATON SR VP SERVICE CENTER OPERATIONS 183101 0 21042 0 13460 0 42200 0 8587 0 268390 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS AND SPOUSES: INCLUDES SPOUSAL TRAVEL FOR BOARD OF DIRECTORS MEMBERS AND FOUR EXECUTIVE LEVEL EMPLOYEES; ALL OF WHICH IS TAXABLE COMPENSATION. FORM 990, PART VI, SECTION A, LINE 4 SUNCOAST'S BYLAWS WERE REVISED UPON RECEIVING REGULATORY APPROVAL FOR THE EXPANSION OF OUR FIELD OF MEMBERSHIP INTO 18 ADDITIONAL COUNTIES. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS OWNED BY ITS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A ALL MEMBERS HAVE THE RIGHT TO VOTE TO ELECT THE BOARD OF DIRECTORS FORM 990, PART VI, SECTION A, LINE 7B A VOTE BY THE MEMBERS IS REQUIRED FOR CHANGES TO THE CREDIT UNION'S CHARTER. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WILL BE REVIEWED BY SENIOR STAFF AND THE BOARD OF DIRECTORS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CREDIT UNION'S BYLAWS ADDRESS THE PROHIBITION OF CONFLICTS OF INTEREST FOR DIRECTORS, COMMITTEE MEMBERS, OFFICERS, AGENTS, AND EMPLOYEES OF THE CREDIT UNION. BOARD MEMBERS ARE DISQUALIFIED FROM DELIBERATION ON ITEMS IN WHICH THEY HAVE A PERSONAL INTEREST. FURTHER, THE CREDIT UNION HAS A FORMAL VENDOR MANAGEMENT PROGRAM AND POLICY THAT IS MANAGED AND MONITORED BY THE COMPLIANCE VICE PRESIDENT AND PURCHASING DIRECTOR. COMPREHENSIVE DUE DILIGENCE IS PERFORMED WITH EACH NEW VENDOR AND AS AN ONGOING REQUIREMENT FOR VENDORS PAID OVER $300,000 ANNUALLY. EXCEPTIONS TO THE VENDOR MANAGEMENT POLICY ARE REVIEWED AND APPROVED BY THE ALCO COMMITTEE ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 THE CEO'S SALARY IS APPROVED BY THE BOARD OF DIRECTORS ANNUALLY. THE CEO APPROVES ALL OFFICER AND KEY EMPLOYEE SALARIES. COMPARABLE SALARY DATA IS PROVIDED BY MERCER CONSULTING GROUP, PAYFACTORS COMPENSATION AND REWARD STRATEGY GROUP AND REVIEWED BY SENIOR STAFF. MERIT INCREASES ARE BASED ON PERFORMANCE RATINGS, CALCULATED AND DISCRETIONARY FACTORS INCLUDING COMPA RATIO, TIME WITH SCU AND TIME IN ROLE. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE UPDATED MONTHLY AND DISPLAYED ON THE LOBBY MONITORS IN ALL BRANCHES, WITH AN ANNUAL REPORT AVAILABLE AT THE ANNUAL MEMBER MEETING AND ON THE SUNCOAST CREDIT UNION WEBSITE. QUARTERLY FINANCIAL DATA IS ALSO AVAILABLE ON THE NCUA'S WEBSITE. THE ORGANIZATION DOES NOT DISCLOSE THEIR GOVERNING DOCUMENTS OR CONFLICT OF INTEREST POLICY. MEMBERS TITLE AGENCY LLC 6810 E HILLSBOROUGH AVE TAMPA FL 33610 593673450 TITLE INSURANCE FL 1865067 17128551 SUNCOAST CREDIT UNION MEMBERS INSURANCE CENTER LLC 6810 E HILLSBOROUGH AVE TAMPA FL 33610 201399753 INSURANCE FL 10402338 29116842 SUNCOAST CREDIT UNION SUNCOAST REALTY SOLUTION LLC 6810 E HILLSBOROUGH AVE TAMPA FL 33610 475609072 REAL ESTATE BROKERAGE FL 283948 648259 SUNCOAST CREDIT UNION SUNCOAST REALTY SOLUTIONS REFERRAL LLC 6810 E HILLSBOROUGH AVE TAMPA FL 33610 831075751 REAL ESTATE REFERRAL BROKERAGE FL 0 0 SUNCOAST CREDIT UNION SUNCOAST CREDIT UNION FOUNDATION 6801 E HILLSBOROUGH AVE TAMPA FL 33610 593037324 FUNDRAISING, CHARITABLE CONTRIBUTIONS, AND AWARDING SCHOLARSHIPS FL 501(C)(3) LINE 10 SUNCOAST CREDIT UNION 0 CHARITABLE LEAD TRUST TRUST FUND FL SUNCOAST CREDIT UNION 0 EMPLOYEE BENEFIT TRUST 6810 E HILLSBOROUGH AVE TAMPA FL 33610 TRUST FUND FL SUNCOAST CREDIT UNION T 321072 35357617 1.00000 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0