2018-01-31T14:47:04-06:00 2016-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2016-01-01 590248325 STATE CHARTERED CREDIT UNIONS IN 121 FINANCIAL CREDIT UNION STAT 9047236300 PO BOX 40769 JACKSONVILLE FL 32203 JANE SCOFIELD SVP/CFO 9047236300 2018-01-31 1 DOUGLAS J ORTH P01076394 3052328272 40.141.134.7 2018-01-31 14:33:53 ES P 6C9B1A35775087DBDB8A6D25ECA509C7F6C27838 1353DC092BF0A9AADCA388267C2932B6E10091D4 2016 2021-01-29 14:40:06Z X BRUCE FAFARD PO BOX 40769 JACKSONVILLE FL 32203 57594600 0 X WWW.121FCU.ORG X 1935 FL TO SHARE IN THE FINANCIAL SUCCESS OF OUR MEMBERS BY PROVIDING SERVICES WITH INTEGRITY AND FAIRNESS. 10 10 245 13 473664 -202237 0 0 22441599 24998914 1615239 1115806 539431 402750 24596269 26517470 0 0 0 0 10747626 9966251 0 0 0 14217788 18195101 24965414 28161352 -369145 -1643882 506125282 554021151 452579118 501685464 53546164 52335687 TO SHARE IN THE FINANCIAL SUCCESS OF OUR MEMBERS BY PROVIDING SERVICES WITH INTEGRITY AND FAIRNESS. 0 0 PROVIDE SAVINGS PRODUCTS WHICH MEET THE NEEDS OF OUR MEMBERS. PROVIDE LENDING PRODUCTS WHICH MEET THE NEEDS OF OUR MEMBERS. PROVIDE OUR MEMBERS SOUND, STABLE AND EVOLVING FINANCIAL SOLUTIONS. 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 13542 0 1 245 1 1 1 0 0 0 0 0 X 10 10 0 0 0 0 1 1 1 1 0 0 1 1 0 1 1 1 1 1 1 1 0 X JANE SCOFIELD SVPCFO 9047236300 701 RIVERSIDE PARK PL JACKSONVILLE FL 32204 CLANTON RAYMOND EDDIE CHAIRMAN 2.00 X 0 0 0 HOGAN J MICHAEL VICE CHAIRMAN 2.00 X 0 0 0 WILLIAMS SHELBA SECRETARY 2.00 X 0 0 0 DELASSUS CYNTHIA TREASURER 2.00 X 0 0 0 CAULEY GEORGE W DIRECTOR 2.00 X 0 0 0 GIPSON ROBERT P DIRECTOR 2.00 X 0 0 0 GREENLIEF BILLIE C DIRECTOR 2.00 X 0 0 0 MACOMBER JR WILLIAM H DIRECTOR 2.00 X 0 0 0 SCOTT III JOHN DIRECTOR 2.00 X 0 0 0 PICKETT LEN DIRECTOR 2.00 X 0 0 0 FAFARD BRUCE J PRESIDENT/CEO 40.00 X 331572 0 42086 HULETT REBECCA S CHIEF FINANCIAL OFFICER 40.00 X 91900 0 8572 SCOFIELD JANE L CHIEF FINANCIAL OFFICER 40.00 X 106195 0 7635 BLACKSTONE PAUL B CHIEF STRATEGY OFFICER 40.00 X 211733 0 18059 MAROVICH DAVID F CHIEF OPERATIONS OFFICER 40.00 X 184399 0 18062 BARRAGE JEFFREY L VP OF IT 40.00 X 128969 0 11080 HUFSTETLER CATHY S VP OF LENDING 40.00 X 100266 0 13755 KOVARIK CLARA T VP OF HUMAN RESOURCES 40.00 X 101480 0 14070 1256514 0 133319 7 0 1 0 SHI INTERNATIONAL PO BOX 952121 DALLAS TX 753952121 SOFTWARE 2169239 AULD & WHITE 4168 SOUTHPOINT PARKWAY STE 101 JACKSONVILLE FL 32216 CONSTRUCTION 1623690 JACK HENRY PO BOX 609 MONETT MO 65708 DATA PROCESSING/SOFTWARE 1473235 FISERV INC PO BOX 300016 DULUTH GA 30096 DATA PROCESSING/SOFTWARE 1334099 PSCU 560 CARILLON PARKWAY ST PETERSBURG FL 33716 CREDIT CARD PROCESSING/SOFTWARE 784664 29 INCOME ON MEMBER LOANS 522100 18882335 18882335 FEES & CHARGES 522100 5642915 5642915 NON MEMBER ATMS 900099 367415 367415 INVESTMENT ADVISORY SERVICES 525990 94520 94520 INSURANCE INCOME 524298 11729 11729 24998914 1096531 1096531 31096405 31077130 19275 19275 19275 OTHER INCOME 522100 402750 402750 402750 26517470 26043806 473664 0 1064753 6785435 445842 1041467 628754 84102 11036 1435146 582653 835255 1146452 1108209 208986 83351 1959654 68410 1571116 239211 PROVISION FOR LOAN LOSS 3044883 ATM/DEBIT/CREDIT 2080900 LOAN SERVICING 1207310 MAINTENANCE 750641 1777786 28161352 3334464 4579934 10758822 26419593 374059 93554 354153808 432643681 1904563 1672240 35178070 13577206 18204207 21600864 104990445 42127072 499361 2629726 171796 116079 11733757 22138408 506125282 554021151 3223909 3242899 24000000 50010054 425355209 448432511 452579118 501685464 X 0 0 0 0 53546164 52335687 53546164 52335687 506125282 554021151 X -1643882 152543 280862 X X 0 1 X 1 0 8750774 8750774 11839966 3755263 8084703 452312 448258 4054 14135018 9373685 4761333 21600864 REGULAR SHARES 116328374 SHARE DRAFTS 74354601 MONEY MARKET 150551128 CERTIFICATES OF DEPOSIT 88248818 IRA SHARES 18710817 CLUB ACCOUNTS 238773 448432511 X 26517470 0 26517470 0 26517470 28161351 0 28161351 0 28161351 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL INCOME TAXES ON INCOME RELATED TO THE EXEMPT PURPOSE OF THE CREDIT UNION. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION DESCRIBED IN INTERNAL REVENUE CODE ("IRC") SECTION 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES THAT ARE IN FURTHERANCE OF ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (AS DEFINED IN SECTION 512) DERIVED BY STATE-CHARTERED CREDIT UNIONS. MANY STATES HAVE SIMILAR LAWS. THE SPECIFIC APPLICATION OF SECTION 512 TO THE VARIOUS ACTIVITIES CONDUCTED BY STATE-CHARTERED CREDIT UNIONS HAS BEEN AN ISSUE FOR MANY YEARS. IN 2007, THE INTERNAL REVENUE SERVICE ("IRS") ISSUED A SERIES OF TECHNICAL ADVICE MEMORANDA ("TAM") TO A NUMBER OF STATE-CHARTERED CREDIT UNIONS LOCATED THROUGHOUT THE COUNTRY. IN THESE TAMS THE IRS RULED CERTAIN PRODUCTS AND SERVICES TO BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. IN LIGHT OF THE TAMS, THE CREDIT UNION HAS ASSESSED ITS ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY. IN THE OPINION OF MANAGEMENT, ANY LIABILITY ARISING FROM FEDERAL OR STATE TAXATION OF ACTIVITIES DEEMED TO BE UNRELATED TO ITS EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION'S INCOME TAX FILINGS ARE SUBJECT TO AUDIT BY VARIOUS TAXING AUTHORITIES AND OPEN AUDIT TAX PERIODS INCLUDE 2012 - 2016. X 1 1 X X 0 0 0 FAFARD BRUCE J PRESIDENT/CEO 302872 0 19100 0 9600 0 18096 0 23990 0 373658 0 0 0 BLACKSTONE PAUL B CHIEF STRATEGY OFFICER 206733 0 5000 0 0 0 12545 0 5514 0 229792 0 0 0 MAROVICH DAVID F CHIEF OPERATIONS OFFICER 179399 0 5000 0 0 0 10486 0 7576 0 202461 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 ALL ACCOUNT HOLDERS ARE REFERRED TO AS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION HAS AN ANNUAL ELECTION IN WHICH THE MEMBERS ELECT 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 A, LINE 8B THE CREDIT UNION DOES NOT HAVE A COMMITTEE WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION DOES NOT PROVIDE A COPY OF FORM 990 TO THE GOVERNING BODY PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ALL EMPLOYEES ARE REQUIRED TO SIGN A STATEMENT ANNUALLY STATING THAT THEY ARE NOT INVOLVED IN ANY TRANSACTIONS THAT WOULD BE A CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE REVIEW OF THE CEO'S COMPENSATION IS DONE ANNUALLY BY THE BOARD OF DIRECTORS (BOD). THE BOD USES AN EXECUTIVE COMPENSATION SURVEY FROM AN INDEPENDENT THIRD PARTY AND EACH MEMBER DOES AN INDIVIDUAL REVIEW TO DETERMINE THE CEO'S COMPENSATION. FOR ALL OTHER SENIOR MANAGEMENT, THE CEO USES AN EXECUTIVE COMPENSATION SURVEY FROM AN INDEPENDENT THIRD PARTY AS WELL AS AN INTERNAL INDEPENDENT SALARY ADMINISTRATION SYSTEM TO DETERMINE THEIR COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION MAKES ITS FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: NET CHANGE IN POSTRETIREMENT BENEFIT 300,465. RECLASSIFICATION ADJUSTMENT FOR GAINS ON AVAILABLE FOR SALE INVESTMENTS -19,603. EQUITY ACQUIRED THROUGH MERGER FORM 990, PART XII, LINE 2C: WE HAVE A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNT. OUR PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.