2018-11-06T08:43:16-06:00 2017-12-31 410746749 CLIFTONLARSONALLEN LLP PO BOX 217 AUSTIN MN 55912 990 2017-01-01 590227113 COMMUNITY FIRST CREDIT UNION OF FLORIDA COMM 9043717987 637 NORTH LEE STREET JACKSONVILLE FL 32204 SAM INMAN CFO CFO 9043718080 2018-10-25 1 TANYA MEDGAARDEN P01717240 5074347000 67.137.57.251 2018-10-25 14:21:44 CD P 0CF8DAA38DEF6BA010CDA025D5681F15700FEA11 EAD1050B096A5AD20989DB7D26358B2771A7DE8D 2017 2018-06-14 16:35:46Z JOHN HIRABAYASHI 637 NORTH LEE STREET JACKSONVILLE FL 32204 72942348 0 2106 X WWW.COMMUNITYFIRSTFL.ORG X CU 1935 FL PROVIDING FINANCIAL SOLUTIONS FOR EVERY STAGE OF LIFE. 9 9 409 13 144676 -359181 0 0 63004706 66722171 5110010 5744610 8759 -5269 68123475 72461512 49866 43913 5033430 5693987 19340866 22108198 0 0 0 28658221 33115912 53082383 60962010 15041092 11499502 1401885967 1512171380 1218665292 1318052724 183220675 194118656 COMMUNITY FIRST CREDIT UNION OF FLORIDA'S MISSION IS TO PROVIDE THE HIGHEST IN QUALITY FINANCIAL SOLUTIONS FOR EVERY STAGE OF LIFE. 0 0 INCOME FROM THE CREDIT UNION MEMBERSHIP AND FROM THE INVESTMENT OF MEMBERS' FUNDS PROVIDE THE BASIS FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP. THE CREDIT UNION OFFERS A VARIETY OF FINANCIAL PRODUCTS INCLUDING, MORTGAGE, AUTOMOBILE, CREDIT CARDS, AND PERSONAL SIGNATURE LOANS. $485,896,693 IN NEW LOANS WERE ORIGINATED DURING 2017 AND MORE THAN $1,011,263,729 IN LOAN BALANCES WERE SERVICED DURING 2017. MEMBERS MAY CHOOSE FROM A NUMBER OF ACCOUNT TYPES INCLUDING REGULAR SHARES, CHECKING, MONEY MARKET, AND RETIREMENT ACCOUNTS. $1,294,846,158 IN DEPOSIT ACCOUNTS WERE MAINTAINED FOR 126,283 MEMBERS DURING 2017. 0 0 1 0 0 0 0 1 0 1 1 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 0 1 1 0 0 1 44328 0 1 409 1 1 1 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X PAULA BASIHAN 9043717921 637 NORTH LEE STREET JACKSONVILLE FL 32204 BETTIE ADAMS VICE CHAIRMAN 1.00 X 0 0 0 MARSHA COARSEY DIRECTOR 1.00 X 0 0 0 BRUCE DOUECK DIRECTOR 1.00 X 0 0 0 SCOTT BENNETT TREASURER 1.00 X 0 0 0 MALINDA PRUDENCIO DIRECTOR 1.00 X 0 0 0 ELLEN PAIGE DIRECTOR 1.00 X 0 0 0 WILLIAM PERMENTER CHAIRMAN 1.00 X 0 0 0 BRENDA SIMMONS DIRECTOR 1.00 X 0 0 0 ELVIA WILLIAMS SECRETARY 1.00 X 0 0 0 JOHN HIRABAYASHI CEO/PRESIDENT 40.00 X 725347 0 29482 SAM INMAN CFO 40.00 X 308681 0 31390 ROGER RASSMAN VICE PRESIDENT 40.00 X 183158 0 20737 SUSAN VERBECK CHIEF LENDING OFFICER 40.00 X 244358 0 8157 MARK FITZMORRIS FINANCIAL ADVISOR 40.00 X 431589 0 58418 TIM SIMPSON INFORMATION SECURITY OFFIC 40.00 X 161493 0 19513 TRACY MANN VICE PRESIDENT 40.00 X 143779 0 26549 DAVID THIBODEAU CHIEF INFORMATION OFFICER 40.00 X 189287 0 32893 JIMMY LOVELACE VICE PRESIDENT 40.00 X 144677 0 17603 2532369 0 244742 17 0 1 0 DBSI 6950 WEST MORELOS PLACE 1 CHANDLER AZ 85226 BRANCH TRANSFORMATION CONSULTANT 3167531 PSCU 560 CARILLON PARKWAY ST PETERSBURG FL 33716 CREDIT CARD PROCESSOR 2270648 FISERV PO BOX 5037-263 PORTLAND OR 97208 ATM & DEBIT CARD PROCESSOR 2129629 Q2 SOFTWARE PO BOX 5205970 DALLAS TX 75320 ONLINE & MOBILE BANKING PROVIDER 918606 VISA USA PO BOX 742233 LOS ANGELES CA 90074 CREDIT CARD PROVIDERS 776411 53 LOAN INTEREST 900099 42606842 42606842 OTHER OPERATING INCOME 900001 13751170 13751170 FEES AND CHARGES 522100 10364159 10214214 149945 66722171 5738575 5738575 486871 480836 6035 6035 6035 K-1 - MEMBERS DEVEOPMENT COMPANY, 900099 2162 2162 K-1 - THE CYPRESS GROUP LLC 900099 -7431 -7431 -5269 72461512 66572226 144676 5744610 X 43913 5693987 1551309 14525311 1895635 1810130 2325813 150660 89412 8394831 2874120 2952941 156009 2074643 63075 458681 2389752 305731 PROVISION FOR LOAN LOSS 7233371 LOAN SERVICING EXPENSE 4824967 FORGERY, FRAUD & PLASTI 588904 ALL OTHER EXPENSES 349016 209799 60962010 7908508 10722206 68517777 94141522 941682598 1011263729 1814651 3074222 52897548 20349411 31155408 32548137 316841464 321857291 33965561 38564273 1401885967 1512171380 18933755 21631566 2000000 1575000 1197731537 1294846158 1218665292 1318052724 X 0 0 0 0 183220675 194118656 183220675 194118656 1401885967 1512171380 X 11499502 -606795 5274 X X 0 1 X 1 0 944 FLORIDA CREDIT UNION POLITICAL ACTION COMMITTEE PO BOX 3108 TALLAHASSEE FL 32315 591889104 5000 FORM 990, SCHEDULE C, PART 1-C LINE 5 ALL POLITICAL CONTRIBUTIONS WERE MADE TO THE FLORIDA CREDIT UNION POLITICAL ACTION COMMITTEE (CUPAC) AND TOTALED $5,000. ALL OF THE FUNDS CONTRIBUTED WERE RECEIVED FROM MEMBERS, VOLUNTEERS, AND EMPLOYEES. 0 1 X 12552463 12552463 21455809 8144532 13311277 1834827 1176426 658401 15299922 11028453 4271469 1754527 1754527 32548137 SECURITIES - AFS 317891228 F OTHER INVESTMENTS 3966063 C 321857291 MEMBERS SHARE AND SAVINGS ACCOUNTS 1294846158 1294846158 X PART IV, LINE 2B: FANNIE MAE CUSTODIAL ACCOUNTS - THE CREDIT UNION HAS MAINTAINED SERVICING FOR LOANS SOLD IN THE SECONDARY MARKET. THE CREDIT UNION COLLECTS PRINCIPAL, INTEREST AND ESCROW PAYMENTS FOR SOLD MORTGAGE LOANS. PAYMENTS ARE PASSED THROUGH TO FANNIE MAE AT CERTAIN INTERVALS. PART X, LINE 2: THE CREDIT UNION IS EXEMPT, UNDER IRC 501 (C) (14), FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION HAS FILED TAX RETURNS FOR ACTIVITIES IT HAS DEEMED TAXABLE AND HAS A NET OPERATING LOSS CARRYFORWARD AS OF THE 2016 TAX CALENDAR YEAR. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2017 AND 2016. WITH FEW EXCEPTIONS, THE CREDIT UNION IS NO LONGER SUBJECT TO EXAMINATIONS BY FEDERAL AND STATE TAXING AUTHORITIES FOR YEARS BEFORE 2014. 1 COMMUNITY FIRST CARES FOUNDATION 637 NORTH LEE STREET JACKSONVILLE FL 32204 461535651 501(C)(3) 43913 TO PROVIDE FINANCIAL SUPPORT TO THE FOUNDATION TO FULFILL ITS EXEMPT PURPOSE TO PROMOTE AND PROVIDE CHARITABLE GIVING AND COMMUNITY INVESTMENT IN THE AREAS SERVED BY THE CREDIT UNION. 1 PART I, LINE 2: THE CEO AND CFO OF THE CREDIT UNION ARE ALSO ON THE BOARD OF THE FOUNDATION AND MONITOR THE USE OF GRANT FUNDS. X 1 1 X X X X X 0 1 0 JOHN HIRABAYASHI CEO/PRESIDENT 550008 0 115000 0 60339 0 12259 0 17223 0 754829 0 0 0 SAM INMAN CFO 253793 0 32323 0 22565 0 18236 0 13154 0 340071 0 0 0 ROGER RASSMAN VICE PRESIDENT 158412 0 24488 0 258 0 2686 0 18051 0 203895 0 0 0 SUSAN VERBECK CHIEF LENDING OFFICER 198816 0 28981 0 16561 0 7557 0 600 0 252515 0 0 0 MARK FITZMORRIS FINANCIAL ADVISOR 431528 0 0 0 61 0 26693 0 31725 0 490007 0 0 0 TIM SIMPSON INFORMATION SECURITY OFFIC 143390 0 4560 0 13543 0 11437 0 8076 0 181006 0 0 0 TRACY MANN VICE PRESIDENT 119106 0 15400 0 9273 0 8497 0 18052 0 170328 0 0 0 DAVID THIBODEAU CHIEF INFORMATION OFFICER 179287 0 10000 0 0 0 7491 0 25402 0 222180 0 0 0 JIMMY LOVELACE VICE PRESIDENT 131423 0 13200 0 54 0 8488 0 9115 0 162280 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANION - BETTIE ADAMS - $1,334 TRAVEL FOR COMPANION - WILLIAM PERMENTER - $3,826 TRAVEL FOR COMPANION - BRENDA SIMMONS - $2,268 TRAVEL FOR COMPANION - ELLEN PAIGE - $2,314 TRAVEL FOR COMPANION - ELVIA WILLIAMS - $2,325 TRAVEL FOR COMPANION - MALINDA PRUDENCIO - $25 PART I, LINE 4B PART I, LINE 4B: JOHN HIRABAYASHI - PARTICIPATED-NO DISTRIBUTIONS PART I, LINE 4B: SAM INMAN - PARTICIPATED-NO DISTRIBUTIONS PART I, LINE 4B: SUSAN VERBECK - PARTICIPATED-NO DISTRIBUTIONS PART I, LINE 4B: ROGER RASSMAN - PARTICIPATED-NO DISTRIBUTIONS FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS MEMBERS. MEMBERSHIP IN THE CREDIT UNION IS COMPOSED OF THOSE WHO LIVE, WORK, OR GO TO SCHOOL IN BAKER, CLAY, DUVAL, FLAGLER, NASSAU, PUTNAM AND ST JOHNS COUNTIES IN FLORIDA, AND OTHER SELECT EMPLOYEE GROUPS WHO HAVE PETITIONED FOR MEMBERSHIP. IN ADDITION TO A REGULARLY QUALIFIED MEMBER, THE SPOUSE OF A MEMBER, THE BLOOD OR ADOPTIVE RELATIVES OF EITHER OF THEM AND THEIR SPOUSES MAY BE 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 THE FOLLOWING GOVERNANCE DECISIONS REQUIRE MEMBER APPROVAL: VOLUNTARY LIQUIDATION - MAJORITY VOTE OF MEMBERS VOTING FOLLOWING BOARD MAJORITY APPROVAL AND FEDERAL AND STATE REGULATORS' APPROVAL; MERGER WITH ANOTHER CREDIT UNION - MAJORITY VOTE OF MEMBERS VOTING FOLLOWING BOARD MAJORITY APPROVAL AND FEDERAL AND STATE REGULATORS' APPROVAL; CONVERSION FROM STATE CREDIT UNION CHARTER TO FEDERAL CREDIT UNION CHARTER - MAJORITY VOTE OF MEMBERS VOTING FOLLOWING BOARD MAJORITY APPROVAL AND FEDERAL AND STATE REGULATORS' APPROVAL; CONVERSION TO ANOTHER FINANCIAL INSTITUTION TYPE CHARTER - MAJORITY VOTE OF ALL MEMBERS ELIGIBLE TO VOTE FOLLOWING BOARD MAJORITY APPROVAL AND FEDERAL AND STATE REGULATORS' APPROVAL; MERGER WITH A BANK - MAJORITY VOTE OF MEMBERS VOTING (WITH 20% MINIMUM ELIGIBLE MEMBER VOTING REQUIREMENT) FOLLOWING BOARD MAJORITY APPROVAL AND FEDERAL AND STATE REGULATORS' APPROVAL; ELECTION OF BOARD - MAJORITY VOTE OF MEMBERS VOTING. FOR ALL OF THE ABOVE DECISIONS, THERE IS A SINGLE CLASS OF MEMBERS WITH EACH MEMBER ENTITLED TO A SINGLE VOTE REGARDLESS OF THE NUMBER OF SHARES IN THE CREDIT UNION. FORM 990, PART VI, SECTION B, LINE 11B THE CONTROLLER IS RESPONSIBLE FOR THE PREPARATION OF THE RETURN. UPON COMPLETION, THE RETURN IS REVIEWED BY THE CEO AND CFO. ONCE ALL PARTIES HAVE COMPLETED THEIR REVIEW AND ANY NECESSARY CORRECTIONS HAVE BEEN MADE, THE RETURN IS FILED AND A COPY OF THE RETURN WILL BE MADE AVAILABLE UPON REQUEST. THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS SHALL REVIEW THE FORM 990 SUBSEQUENT TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS, MANAGEMENT AND STAFF ARE COVERED BY THE CONFLICTS OF INTEREST POLICY. IT IS REVIEWED ANNUALLY. ACTUAL OR POTENTIAL CONFLICTS OF INTEREST WOULD BE INVESTIGATED BY INTERNAL AUDIT OR LOSS PREVENTION DEPARTMENTS. APPROPRIATE ACTIONS UP TO AND INCLUDING LIMITING TRANSACTION CAPABILITIES OR PROHIBITING PERSONS WITH A CONFLICT TO PARTICIPATE IN GOVERNING ACTIVITIES SUCH AS DELIBERATIONS OR VOTES WHERE CONFLICTS EXIST WOULD BE IMPOSED. 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 USES AN EXECUTIVE COMPENSATION SURVEY FROM AN INDEPENDENT THIRD PARTY TO DETERMINE THE CEO'S COMPENSATION. FOR ALL OTHER POSITIONS IN THE ORGANIZATION, PAY RANGES ARE REVIEWED ON AN ANNUAL BASIS UTILIZING DATA FROM AN INDEPENDENT COMPENSATION STUDY. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, THE CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS WILL BE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. THE CREDIT UNION'S QUARTERLY FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC VIEWING ON THE NCUA.GOV WEBSITE VIA THE 5300 FILING. ADDITIONALLY, THE CREDIT UNION'S ANNUAL REPORT IS AVAILABLE FOR PUBLIC VIEWING VIA THE CREDIT UNION'S WEBSITE. FORM 990, PART IX, LINE 11G ATM RELATED EXPENSES 2,493,853. VISA CHECK CARDS AND GIFT CARDS 1,315,709. REWARDS PROGRAM 957,731. STATEMENT/NOTICE PROCESSING 661,926. BILL PAYMENT PROCESSING 348,883. MISC PROFESSIONAL SERVICES 1,959,793. OFFICE STORAGE 8,982. ARMORED CAR 66,674. DOCUMENT SHRED SERVICE 11,932. COURIER SERVICE 109,530. SECURITY 138,178. ASSET LIABILITY MANAGEMENT 95,974. INVESTMENT SERVICES 12,238. RECRUITING & PERSONNEL 213,428. FORM 990, PART XI, LINE 9: K-1 GAIN - THE CYPRESS GROUP LLC 7,431. K-1 GAIN - MEMBERS DEVELOPMENT COMPANY, LLC -2,162. ROUNDING 5. FORM 990, PART XII, LINE 2C THE PROCESS USED BY THE COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED SINCE LAST YEAR. COMMUNITY FIRST CARES FOUNDATION 637 NORTH LEE STREET JACKSONVILLE FL 32204 461535651 TO IMPROVE QUALITY OF LIFE IN NE FL WITH EMPHASIS ON EDUCATION & YOUTH FL 501(C)(3) LINE 7 COMMUNITY FIRST CREDIT UNION OF FLORIDA 1 EDCO FINANCIAL SERVICES INC 637 NORTH LEE STREET JACKSONVILLE FL 32204 593282020 FINANCIAL SERVICES - INACTIVE FL COMMUNITY FIRST CREDIT UNION OF FLORIDA C 1000 1.00000 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 NO TRANSACTIONS OVER 50000