2018-05-09T09:02:58-05:00 2017-12-31 ERNST & YOUNG US LLP 201 N FRANKLIN STREET SUITE 2400 TAMPA FL 33602 990 2017-01-01 590690965 VYSTAR CREDIT UNION % VYSTAR CU-ACCTG DEPT VYST 9049082519 4949 Blanding Blvd Jacksonville FL 32210 JOHN H TURPISH CFO 9049082519 2018-05-08 true Melanie McPeak P01346034 8132254800 2017 2022-09-23 18:48:47Z BRIAN E WOLFBURG 4949 BLANDING BLVD JACKSONVILLE FL 32210 320561541 false X www.vystarcu.org X Cooperative 1952 FL THE MISSION OF VYSTAR CREDIT UNION IS TO SERVE THE FINANCIAL NEEDS OF OUR MEMBERS BY PROVIDING QUALITY SERVICE WHILE MAINTAINING FINANCIAL SOUNDNESS. 9 9 1835 13 2985473 1691258 0 0 256453300 292042019 21953662 27658029 21269 22848 278428231 319722896 0 0 0 0 83844709 90130376 0 0 0 144377653 168783731 228222362 258914107 50205869 60808789 6551987170 7299457527 5976388390 6663320477 575598780 636137050 THE MISSION OF VYSTAR CREDIT UNION IS TO FOCUS ON SERVING THE FINANCIAL NEEDS OF OUR MEMBERS BY PROVIDING QUALITY SERVICES WHILE MAINTAINING FISCAL SOUNDNESS. false false PROVIDE CONSUMER AND BUSINESS LOAN PRODUCTS TO MEMBERS AT COMPETITIVE RATES WITH MINIMAL OR NO FEES. PROVIDE DEPOSIT PRODUCTS TO INDIVIDUAL MEMBERS AND BUSINESS MEMBERS AT COMPETITIVE RATES WITH MINIMAL OR NO FEES. PROVIDE INVESTMENT, INSURANCE and TITLE AGENCY SERVICES TO MEMBERS WITH MINIMAL FEES. false false false false false false false false true false false false true false true false false false false false false false false false false false false true false false false false false false false false false false true false false false true 355458 0 true 1835 true true true false false false false false X 9 9 false false false false true true true true true false true true true true true true true true true true false FL X VYSTAR CU-ACCTG DEPT 9049082519 4949 BLANDING BLVD JACKSONVILLE FL 32210 X GEORGE R BERRY Chairman 5.0 0.0 X X 2582 0 0 ERIC HATFIELD Treasurer 5.0 0.0 X X 1331 0 0 SUSAN M RUFFIN Board Member 5.0 0.0 X 5106 0 0 PE TED HEWITT Board Member 5.0 0.0 X 0 0 0 LARRY D MYERS Board member 5.0 0.0 X 0 0 0 PKEM SIDDONS VICE CHAIRMAN 5.0 0.0 X X 4563 0 0 RALPH R STORY Board member 5.0 0.0 X 0 0 0 WILLIAM C VIVIAN Secretary 5.0 0.0 X X 1284 0 0 JENNIFER A LUSK BOARD MEMBER 5.0 0.0 X 0 0 0 BRIAN ROCHE BOARD MEMBER (UNTIL 10/20/17) 5.0 0.0 X 0 0 0 BRIAN E WOLFBURG PRESIDENT/CEO 40.0 0.0 X 302084 0 12826 TERRY R WEST President/CEO (until 8/11/17) 40.0 0.0 X 790841 0 33483 RICHARD G ALFIREVIC EVP/COO (UNTIL 09/08/17) 40.0 0.0 X 338760 0 18268 JOHN H TURPISH EVP/CFO 40.0 0.0 X 382090 0 25158 KATHRYN A BONAVENTURA CHIEF LENDING OFFICER 40.0 0.0 X 402254 0 18083 RANDY C SWIFT Chief MEMBER SERVICES officer 40.0 0.0 X 283300 0 13539 JUDITH T WALZ chief MARKETING & PLANNING ofc 40.0 0.0 X 299406 0 15564 AKIN AGAR CHIEF INFORMATION OFFICER 40.0 0.0 X 324526 0 21898 VICKI L ADAMS Chief Risk Officer 40.0 0.0 X 282299 0 22210 ROBERT L DAVIS chief HUMAN RESOURCES officer 40.0 0.0 X 298362 0 14281 JEFFERY GREENERT SENIOR PORTFOLIO MANAGER 40.0 0.0 X 219169 0 14073 3937957 0 209383 96 false true false DIEBOLD INCORPORATED PO BOX 643543 PITTSBURGH PA 152643543 MEMBER SERVICES 4254703 FISERV PO BOX 745148 ATLANTA GA 303745148 BANKING & PAYMENT 8106474 DANA B KENYON COMPANY 5772 TIMUQUANA ROAD JACKSONVILLE FL 32207 CONSTRUCTION 8222572 FISERV SOLUTIONS PO BOX 300016 DULUTH GA 300960300 BANKING & PAYMENT 8338845 PSCU 560 CARILLON PKWY ST PETERSBURG FL 33716 CARD SERVICES 10316091 127 0 0 0 INTEREST ON LOANS 525990 190533699 190533699 0 0 FEES & COMMISSIONS 525990 94500332 91572500 2927832 0 TITLE AGENCY 531390 57641 0 57641 0 GAIN ON SALE OF LOANS 525990 394890 394890 0 0 CR LIFE & DISAB, GAP, VIS 525990 6555457 6555457 0 0 292042019 27553184 27553184 0 0 21184 21184 0 21184 21184 943490 838645 104845 104845 104845 0 0 0 0 0 0 0 0 0 OTHER REVENUE 525990 1664 1664 0 0 1664 319722896 289163055 2985473 27574368 0 0 0 0 0 0 0 0 2635552 0 0 0 0 0 0 73098222 0 0 2169046 0 0 6647543 0 0 5580013 0 0 0 0 0 0 309172 0 0 224185 0 0 0 0 0 0 0 0 0 0 0 0 5543000 4951212 0 0 58833177 0 0 5050326 0 0 0 0 0 0 5765283 0 0 329871 0 0 0 0 0 0 682469 0 0 17215218 0 0 0 0 0 0 11191763 0 0 989479 0 0 INTEREST PAID TO MEMBERS 26976441 PROVISION FOR LOAN LOSSES 19770032 MEMBER ACCOUNT LOSSES 2623208 ALL OTHER EXPENSES 8328895 258914107 0 0 0 0 52406275 56580435 671732983 833646232 0 0 5720960 5463842 0 0 0 0 4424086050 5033484126 0 0 0 0 247949884 99837126 127924151 148112758 1139034086 1079127639 0 0 47652411 60062946 0 0 83430254 82979549 6551987170 7299457527 85062547 88230702 0 0 0 0 0 0 0 0 0 0 887904912 1152864720 0 0 5003420931 5422225055 5976388390 6663320477 X 0 0 0 0 575598780 636137050 575598780 636137050 6551987170 7299457527 X 60808789 -262842 0 0 0 -7677 X false true X true false 62716934 62716934 93758813 35101641 58657172 10673738 6558069 4115669 80800399 58177416 22622983 148112758 0 MEMBER DEPOSITS 5421047335 CONTINGENT LIABILITY 1177720 5422225055 319596868 0 0 0 319596868 0 126028 126028 319722896 258788079 0 0 258788079 126028 126028 258914107 PART XI, LINE 4B: OTHER AMOUNTS INCLUDED ON FORM 990, PART VIII LINE 12 BUT NOT INCLUDED IN PART XI, LINE 1: RENTAL INCOME 21,184 GAIN-OTHER PROPERTY OWNED 73,570 GAIN-OTHER NON-OPERATING (SALE OF ASSETS) 31,274 TOTAL LINE 4B 126,028 PART XII, LINE 4B: OTHER AMOUNTS INCLUDED ON FORM 990, PART XI LINE 12 BUT NOT INCLUDED IN PART XII, LINE 1: RENTAL INCOME 21,184 GAIN-OTHER PROPERTY OWNED 73,570 GAIN-OTHER NON-OPERATING (SALE OF ASSETS) 31,274 TOTAL LINE 4B 126,028 X X true true X X X X false false false KATHRYN A BONAVENTURA CHIEF LENDING OFFICER 370464 0 30758 0 1032 0 10800 0 7283 0 420337 0 0 0 RANDY C SWIFT Chief MEMBER SERVICES officer 255504 0 25561 0 2235 0 10800 0 2739 0 296839 0 0 0 JUDITH T WALZ chief MARKETING & PLANNING ofc 270075 0 27447 0 1884 0 10800 0 4764 0 314970 0 0 0 AKIN AGAR CHIEF INFORMATION OFFICER 293133 0 31032 0 361 0 10682 0 11216 0 346424 0 0 0 VICKI L ADAMS Chief Risk Officer 254832 0 26525 0 942 0 10800 0 11410 0 304509 0 0 0 ROBERT L DAVIS chief HUMAN RESOURCES officer 268905 0 27160 0 2297 0 10800 0 3481 0 312643 0 0 0 BRIAN E WOLFBURG PRESIDENT/CEO 71635 0 200000 0 30449 0 358 0 12468 0 314910 0 0 0 TERRY R WEST President/CEO (until 8/11/17) 592434 0 182375 0 16032 0 27248 0 6235 0 824324 0 0 0 RICHARD G ALFIREVIC EVP/COO (UNTIL 09/08/17) 292677 0 35798 0 10285 0 10800 0 7468 0 357028 0 0 0 JOHN H TURPISH EVP/CFO 332796 0 31776 0 17518 0 10800 0 14358 0 407248 0 0 0 JEFFERY GREENERT SENIOR PORTFOLIO MANAGER 200388 0 18353 0 428 0 8971 0 5102 0 233242 0 0 0 SCHEDULE J, PART I, LINE 1A Compensation provided by organization listed in Form 990, Part VII, Section A Travel for spouse is available to all 13 volunteers and is included in taxable income. Health or social club dues or initiation fees are paid for the CEO and one highest compensated employee. DESCRIPTION OF CLASSES OF MEMBERS OR STOCKHOLDERS FORM 990, PART VI, LINE 6 AS A STATE-CHARTERED COMMUNITY CREDIT UNION, OUR MEMBERSHIP IS DEFINED GEOGRAPHICALLY. IF YOU LIVE OR WORK WITHIN THE COUNTIES DEFINED AS 'NORTHEAST FLORIDA'CENTRAL FLORIDA' THEN YOU AND YOUR FAMILY MEMBERS ARE ELIGIBLE TO BECOME A MEMBER OF VYSTAR CREDIT UNION. WE CURRENTLY SERVE MEMBERS IN THE FOLLOWING 22 COUNTIES: ALACHUA, BAKER, BRADFORD, BREVARD, CLAY, COLUMBIA, DUVAL, FLAGLER, GILCHRIST, HAMILTON, LAKE, LEVY, PUTNAM, MARION, NASSAU, ORANGE, ST. JOHNS, SEMINOLE, SUMTER, SUWANNEE, UNION AND VOLUSIA COUNTIES. DESCRIPTION OF CLASSES OF PERSONS AND THE NATURE Of THEIR RIGHTS FORM 990, PART VI, LINE 7A VYSTAR CREDIT UNION IS A FINANCIAL COOPERATIVE OWNED BY ITS MEMBERS. QUALIFIED MEMBERS MAY SERVE ON THE BOARD OF DIRECTORS OR AUDIT COMMITTEE. EACH YEAR, THE CHAIRMAN OF THE BOARD OF DIRECTORS SELECTS THREE MEMBERS TO SERVE ON THE NOMINATING COMMITTEE ALONG WITH TWO EXISTING MEMBERS OF THE BOARD. THE NOMINATING COMMITTEE RECOMMENDS QUALIFIED MEMBERS TO FILL ALL BOARD VACANCIES. HOWEVER, IF A QUALIFIED PETITION NOMINATING AN ADDITIONAL CANDIDATE IS RECEIVED FROM A VYSTAR MEMBER, THEN A BALLOT ELECTION WILL BE HELD. IF A BALLOT ELECTION IS HELD, MEMBERS WHO ARE 18 OR OLDER WILL HAVE THE OPPORTUNITY TO VOTE FOR THE INDIVIDUALS WHO WILL FILL THE VACANCIES ON THE BOARD FROM THE CANDIDATES SELECTED BY THE NOMINATING COMMITTEE AND THE CANDIDATES SUBMITTED VIA A QUALIFIED PETITION. DESCRIBE CLASSES OF PERSONS, DECISIONS REQUIRING APPR & TYPE OF VOTING RIGHTS FORM 990, PART VI, LINE 7B PER FLORIDA STATUTES, A PROPOSED MERGER WITH ANOTHER FINANCIAL INSTITUTION AND A PROPOSED CHARTER CHANGE (FEDERAL, STATE OR BANK) ARE SUBJECT TO APPROVAL BY A MAJORITY OF THE VOTES CAST BY THE MEMBERS. DESCRIBE THE PROCESS USED BY MANAGEMENT &/OR GOVERNING BODY TO REVIEW 990 FORM 990, PART VI, LINE 11B THE FORM 990 IS REVIEWED AND APPROVED BY THE VP ACCOUNTING. THE COMPLETED 990 IS PROVIDED TO THE BOARD OF DIRECTORS, CEO, AND CFO FOR THEIR REVIEW BEFORE THE RETURN IS FILED. DESCRIPTION OF PROCESS TO MONITOR TRANSACTIONS FOR CONFLICTS OF INTEREST FORM 990, PART VI, LINE 12C VYSTAR HAS A WRITTEN CODE OF ETHICS POLICY WHICH COVERS A VARIETY OF ISSUES, INCLUDING CONFLICTS OF INTEREST. THE CODE OF ETHICS IS REVIEWED ANNUALLY WITH THE BOARD OF DIRECTORS AND WITH ALL EMPLOYEES. ANYTIME THE CODE OF ETHICS IS REVISED, ALL OFFICIALS AND EMPLOYEES ARE REQUIRED TO READ AND SIGN THE CODE OF ETHICS STATEMENT AND ACKNOWLEDGEMENT FORM. ANNUALLY, ALL OFFICIALS AND EMPLOYEES ARE REQUIRED TO REVIEW AND CONFIRM THAT THEY HAVE REVIEWED THE CODE OF ETHICS. EMPLOYEES IN THE ORGANIZATION'S INTERNAL AUDIT DEPARTMENT REGULARLY CONDUCT AUDITS OF OFFICIALSEMPLOYEES' DEPOSITORY AND LOAN ACCOUNTS AT VYSTAR CREDIT UNION, TO IDENTIFY SUSPICIOUS ACTIVITY, WHICH HELPS TO MONITOR AND/OR IDENTIFY ANY CONFLICTS OF INTEREST. OFFICES & POSITIONS FOR WHICH PROCESS WAS USED, & YEAR PROCESS WAS BEGUN FORM 990, PART VI, LINE 15A EACH YEAR VYSTAR CREDIT UNION PARTICIPATES IN ONE OR MORE SENIOR MANAGEMENT SURVEYS THAT ARE CONDUCTED BY AN INDEPENDENT INDUSTRY COMPENSATION CONSULTANT. WE INCLUDE INFORMATION WITH REGARDS TO TIME IN JOB, BASE SALARY, VARIABLE PAY, BENEFITS AND PREREQUISITES. WE ALSO REVIEW 990'S OF OTHER CREDIT UNIONS. THE RESULTS OF THESE SURVEYS AND ANALYSIS ARE USED BY THE COMPENSATION COMMITTEE, WHICH IS COMPRISED OF MEMBERS OF THE BOARD OF DIRECTORS, TO DETERMINE THE COMPENSATION OF THE CEO. THE CEO'S COMPENSATION AND BENEFITS ARE APPROVED BY THE BOARD OF DIRECTORS. THIS PROCESS HAS BEEN IN PLACE SINCE AT LEAST 1999, AND WAS IN PLACE FOR THE CURRENT YEAR. OFFICES & POSITIONS FOR WHICH PROCESS WAS USED, & YEAR PROCESS WAS BEGUN FORM 990, PART VI, LINE 15B EACH YEAR VYSTAR CREDIT UNION PARTICIPATES IN LOCAL, REGIONAL, AND NATIONAL COMPENSATION SURVEYS AND CONSULTS WITH INDEPENDENT COMPENSATION CONSULTANTS TO DETERMINE THE MARKET COMPETITIVENESS OF OUR INTERNAL SALARY PROGRAM. THIS INFORMATION IS USED TO HELP DETERMINE THE RANGE FOR THE VARIOUS PAY LEVELS FOR THESE INDIVIDUALS. THIS PROCESS HAS BEEN IN PLACE SINCE AT LEAST 1999, AND WAS IN PLACE FOR THE CURRENT YEAR. AVAIL OF GOV DOCS, CONFLICT OF INTEREST POLICY, & FIN STMTS TO GEN PUBLIC FORM 990, PART VI, LINE 19 VYSTAR CREDIT UNION'S GOVERNING DOCUMENTS, POLICIES, PROCEDURES AND FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE GENERAL PUBLIC. OUR AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON OUR WEBSITE FOR THE MOST RECENT FIVE YEARS. Supplemental Information Form 990, Part VIII, Line 2D Form 8275 is attached to Form 990-T to report the treatment of the income. OTHER CHANGES IN NET ASSETS FORM 990, PART XI, LINE 9 MERGER AND ACQUISITIONS - ANCHOR 7 CREDIT UNION $(7,677) VYSTAR FINANCIAL GROUP LLC 760 RIVERSIDE AVE JACKSONVILLE FL 32204 593683267 TITLE AGENCY FL 3454277 14052373 VYSTAR CR UN