2017-11-14T14:45:44-06:00 2016-12-31 454084437 Warren Averett LLC 316 South Baylen St Suite 300 Pensacola FL 32502 990 2016-01-01 590709646 WE FLORIDA FINANCIAL CITY 9545222705 1982 NORTH STATE ROAD 7 MARGATE FL 33063 STEPHEN SPOONER VP/CFO 9545222705 2017-11-14 1 Harold S Hutto Jr CPA P01052648 8504357400 2017-11-08 209.136.244.2 2017-11-14 13:22:32 CS P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 024EF3AB430A43B3C5FF45BED95884387026A8C9 2016 2017-02-10 21:41:12Z LLOYD GILL 1982 NORTH STATE ROAD 7 MARGATE FL 33063 36481121 0 X www.wefloridafinancial.com X 1952 FL THE CREDIT UNION IS A COOPERATIVE, NON-PROFIT ASSOCIATION, ORGANIZED UNDER THE LAWS OF THE STATE OF FLORIDA, FOR THE PURPOSE OF ENCOURAGING THRIFT AMONG ITS MEMBERS, CREATING SOURCES OF CREDIT AND CREDIT RELATED PRODUCTS AT FAIR AND REASONABLE RATES AND PROVIDING OTHER OPPORTUNITIES FOR MEMBERS TO USE AND CONTROL THEIR RESOURCES ON A DEMOCRATIC BASIS. 7 7 216 13 146482 -80481 0 0 17784813 17824819 441354 1745374 11413279 11843237 29639446 31413430 0 0 0 0 9925402 11622161 0 0 0 18795651 21895292 28721053 33517453 918393 -2104023 515966171 525499780 462254170 474703854 53712001 50795926 THE CREDIT UNION'S MISSION IS TO PROMOTE THRIFT AMONG ITS MEMBERS AND CREATE A SOURCE OF CREDIT FOR THEM AT REASONABLE RATES OF INTEREST. THE CREDIT UNION SERVES MEMBERS IN DADE AND BROWARD COUNTIES IN FLORIDA. THE TOTAL NUMBER OF MEMBERS IS IN EXCESS OF 40,000. 0 0 THE CREDIT UNION PROVIDES ITS MEMBERS WITH A SELECTION OF INSURED DEPOSIT PRODUCTS THAT ENCOURAGE THRIFT. THE PRODUCTS ARE DESIGNED FOR BOTH SMALL AND MEDIUM SAVERS. THE CREDIT UNION PROVIDES LOW COST LOANS THAT HELP MEMBERS IMPROVE THEIR LIVES. THE PRODUCTS INCLUDE SMALL UNSECURED LOANS UP TO MORTGAGE LOANS. THE CREDIT UNION PROVIDES MEMBERS ACCESS TO BOTH MANUAL CHECK AND CASH TRANSACTION SERVICES ALONG WITH ELECTRONIC TYPE SERVICES, SUCH AS FUNDS TRANSFERS, ACH, DEBIT, ATM, ETC. 0 0 1 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 26524 0 1 216 1 1 1 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 0 1 1 1 0 X STEPHEN SPOONER 9547452310 1982 NORTH STATE ROAD 7 MARGATE FL 33063 DAMON ADAMS CHAIRMAN 1.00 X X 0 0 0 DOROTHY CLEVELAND SECRETARY 1.00 X X 0 0 0 INGRID FILS VICE-CHAIRMAN 1.00 X X 0 0 0 MARCIA OBAN DIRECTOR 1.00 X 0 0 0 MARY ANN LAROCK TREASURER 1.00 X X 0 0 0 MACK MACVICAR DIRECTOR 1.00 X 0 0 0 HENRY PRIOR DIRECTOR 1.00 X 0 0 0 LLOYD GILL PRESIDENT/CEO 40.00 X 352929 0 34621 TOUCH REATH VP/CFO 40.00 X 175862 0 24857 NANCY BOURDON-MEYER VP/CHIEF INFORMATION OFFICER 40.00 X 200596 0 20310 JENNIFER BURNS VP/CHIEF MARKETING OFFICER 40.00 X 156603 0 20677 HEATHER YANT EVP/CHIEF MEMBER EXPERIENCE OFFICER 40.00 X 49776 0 3477 SANDRA SPENCE VP ADVERTISING & PUBLIC 40.00 X 119950 0 13008 TOM GLICKMAN VP SALES 40.00 X 119639 0 19529 JANNA SIMON DIRECTOR OF CONSUMER LOANS 40.00 X 107632 0 18590 JEROME RYAN DIRECTOR OF IT & SECURITY 40.00 X 100555 0 12832 SUSAN HIBBERT RESIDENTIAL LOAN MANAGER 40.00 X 105101 0 13029 1488643 0 180930 9 0 1 0 SHUTTS & BOWEN LLP 200 SOUTH BISCAYNE BLVD STE 4100 MIAMI FL 33131 ATTORNEY 404927 NXG STRATEGIES PO BOX 637422 CINCINNATI OH 45263 IDENTITY THEFT MONITORING 145617 CORELOGIC VALUATION SOLUTIONS PO BOX 202863 DALLAS TX 75320 APPRAISAL SERVICES 139412 MARTIN & BENNIS PA 319 SE 14 STREET FORT LAUDERDALE FL 33316 ATTORNEY 115718 BARNES & THORNBURG LLP 3475 PIEDMONT RD NE STE 1700 ATLANTA GA 30305 ATTORNEY 108275 5 LOAN INTEREST INCOME 522100 17824819 17824819 17824819 1518385 1518385 5286180 8500 5067691 0 218489 8500 226989 226989 OTHER INCOME 522100 11674896 11674896 NON-MEMBER ATM SURCHARGES 522100 146482 146482 GAIN ON SALE OF OREO 522100 21859 21859 11843237 31413430 29521574 146482 1745374 1039708 7915907 455486 1566928 644132 691172 20650 2000 157931 1971783 978449 1142346 48077 273772 2586931 1619522 226971 PROVISION FOR LOAN LOSS 4893975 LOAN SERVICING 2393895 DEBIT CARD EXPENSE 1357780 CREDIT CARD EXPENSE 660781 2869257 33517453 46332722 25029360 82833275 21136043 994144 892826 325477610 334457556 805621 710635 26015517 10295185 16548725 15720332 15231933 83366214 5091183 21013180 22650958 23173634 515966171 525499780 4549909 6966225 457704261 467737629 462254170 474703854 X 0 0 0 0 53712001 50795926 53712001 50795926 515966171 525499780 X -2104023 -671153 -140899 X X 0 1 X 1 0 32265 0 32265 32265 1 LEAGUE OF SOUTHEASTERN CREDIT UNIONS POLITICAL ACTION COMMITTEE 3773 COMMONWEALTH BLVD TALLAHASSEE FL 32303 591889104 32265 Part I-A, Line 1: THE CREDIT UNION DONATED FUNDS TO THE FLORIDA CREDIT UNION POLITICAL ACTION COMMITTEE - LEAGUE OF SOUTHEASTERN CREDIT UNIONS. 6438729 6438729 12186689 4610585 7576104 2540551 1779832 760719 4849548 3904768 944780 15720332 MEMBER DEPOSIT ACCOUNTS 467737629 467737629 X Part X, Line 2: Effective January 1, 2009, the Credit Union implemented the new accounting requirements associated with uncertainty in income taxes using the provisions of Financial Accounting Standards Board (FASB) ASC 740, Income Taxes. Using that guidance, tax positions initially need to be recognized in the financial statements when it is more-likely-than-not the positions will be sustained upon examination by tax authorities. It also provides guidance for de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. As of December 31, 2016, the Credit Union has no uncertain tax positions that qualify for either recognition or disclosure in the financial statements. Additionally, the Credit Union had no interest and penalties related to income taxes. With few exceptions, the Credit Union is no longer subject to U.S. federal income tax examinations by tax authorities for calendar years before 2013. X X X 1 1 X X X X 0 1 0 LLOYD GILL PRESIDENT/CEO 277375 0 54186 0 21368 0 15228 0 19393 0 387550 0 0 0 TOUCH REATH VP/CFO 146617 0 23372 0 5873 0 10967 0 13890 0 200719 0 0 0 NANCY BOURDON-MEYER VP/CHIEF INFORMATION OFFICER 160409 0 28201 0 11986 0 8746 0 11564 0 220906 0 0 0 JENNIFER BURNS VP/CHIEF MARKETING OFFICER 126188 0 19330 0 11085 0 7613 0 13064 0 177280 0 0 0 Part I, Line 4b THE CREDIT UNION HAS 457(F) NON-QUALIFIED DEFERRED COMPENSATION ARRANGEMENTs FOR LLOYD GILL AND TOUCH REATH. THE PLANS ARE DESIGNED TO PROVIDE POST-RETIREMENT BENEFITS TO THE COVERED EMPLOYEES. Form 990, Part VI, Section A, line 6 THE CREDIT UNION IS OWNED BY ITS MEMBERS. Form 990, Part VI, Section A, line 7a THE MEMBERS ELECT THE BOARD OF DIRECTORS. THE BOARD MEMBERS SERVE THREE-YEAR TERMS. THERE IS NO LIMIT ON THE NUMBER OF TERMS BOARD MEMBERS CAN BE ELECTED. Form 990, Part VI, Section A, line 7b MEMBERS MUST VOTE ON THE DISSOLUTION OF THE CREDIT UNION OR THE MERGER WITH ANOTHER CREDIT UNION. Form 990, Part VI, Section B, line 11b THE FORM 990 IS PREPARED BY EXTERNAL CPA'S AND REVIEWED BY THE VP/CFO PRIOR TO FILING. Form 990, Part VI, Section B, line 12c THE CREDIT UNION HAS A CONFLICT OF INTEREST POLICY APPROVED BY THE BOARD AND ADMINISTERED BY THE PRESIDENT. EMPLOYEES, DIRECTORS, AND OFFICERS WHO RECEIVE ANYTHING OF VALUE MUST REPORT IT TO THE PRESIDENT, WHO THEN ENSURES THE POLICY AND BANKING RULES ARE FOLLOWED. THE PRESIDENT MAINTAINS RECORDS OF ALL ACTIONS. THE SUPERVISORY COMMITTEE REVIEWS MANAGEMENT ACTIONS RELATED TO ALL POLICY AND LEGAL COMPLIANCE ISSUES. Form 990, Part VI, Section B, line 15 THE CREDIT UNION ENGAGES AN INDEPENDENT THIRD PARTY THAT SPECIALIZES IN CREDIT UNION COMPENSATION EVERY 2 TO 3 YEARS. THEY DO A COMPENSATION STUDY OF ALL LEVELS AND MAKE A RECOMMENDATION FOR RANGE ADJUSTMENTS IF NECESSARY. THE BOARD OF DIRECTORS REVIEWS AND APPROVES ALL RANGE ADJUSTMENTS. ALL POSITIONS EXCEPT THE PRESIDENT RECEIVE AN ANNUAL REVIEW AND PERFORMANCE-BASED INCREASE. THE PERCENTAGE INCREASE RANGE IS THE SAME FOR STAFF AND OFFICERS. THE PRESIDENT'S COMPENSATION IS REVIEWED ANNUALLY BY THE BOARD AND ADJUSTED AS APPROVED BY THE BOARD WITHIN THE APPROVED RANGE. Form 990, Part VI, Section C, line 19 THE CREDIT UNION POSTS IN ITS LOBBY EACH MONTH A FINANCIAL STATEMENT OF CONDITION. AUDITED FINANCIAL STATEMENTS ARE AVAILABLE AT THE ANNUAL MEMBERSHIP MEETING AND UPON REQUEST. ALL OF THE CREDIT UNION'S POLICIES ARE AVAILABLE UPON REQUEST ALONG WITH ITS BYLAWS. Form 990, Part XI, line 9: FASB ASC 860 INTEREST ONLY STRIP -140,899. FORM 990, PART XII, FINANCIAL STATEMENTS AND REPORTING, LINE 2(c) THE CREDIT UNION HAS A SUPERVISORY COMMITTEE WHO IS RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT ACCOUNTANTS. CITY SERVICE GROUP INC 1962 N STATE ROAD 7 MARGATE FL 330635710 650579089 INACTIVE FL WE FLORIDA FINANCIAL C 500 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 NONE OF THE TRANSACTIONS LISTED IN LINE 1 ABOVE OCCURRED BETWEEN THE CREDIT UNION AND CITY SERVICE GROUP IN 2016