2017-05-04T14:29:26-05:00 2016-12-31 ERNST & YOUNG US LLP 201 N FRANKLIN STREET SUITE 2400 TAMPA FL 33602 990 2016-01-01 590690965 VYSTAR CREDIT UNION % VYSTAR CU-ACCTG DEPT VYST 9049082519 4949 Blanding Blvd Jacksonville FL 32210 JOHN H TURPISH CFO 9049082519 2017-05-04 true Melanie McPeak P01346034 8132254800 47.199.168.75 59196620171245000000 2017-05-04 P 090DF3880695D33BA5F0896781DD7F1FFA4BF94E 4B79E34C9C3611B0DDEA7F5FECC148CAAC5FA406 2016 2021-01-29 14:40:06Z TERRY R WEST 4949 BLANDING BLVD JACKSONVILLE FL 32210 280310892 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 1675 13 2915029 1686729 0 0 233107550 256453300 17995627 21953662 27882 21269 251131059 278428231 0 0 0 0 75992928 83844709 0 0 0 134496014 144377653 210488942 228222362 40642117 50205869 5652796448 6551987170 5118605198 5976388390 534191250 575598780 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, TITLE AGENCY AND REAL ESTATE 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 332181 0 true 1675 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 Board member 5.0 0.0 X 0 0 0 ERIC HATFIELD Treasurer 5.0 0.0 X X 2694 0 0 SUSAN M RUFFIN Board Member 5.0 0.0 X 1507 0 0 PE TED HEWITT Chairman 5.0 0.0 X X 0 0 0 LARRY D MYERS Board member 5.0 0.0 X 0 0 0 BRIAN ROCHE BOARD MEMBER 5.0 0.0 X 0 0 0 PKEM SIDDONS VICE CHAIRMAN 5.0 0.0 X X 2875 0 0 RALPH R STORY Board member 5.0 0.0 X 1357 0 0 WILLIAM C VIVIAN Secretary 5.0 0.0 X X 4418 0 0 TERRY R WEST President/CEO 40.0 0.0 X 872358 0 41118 RICHARD G ALFIREVIC EVP/COO 40.0 0.0 X 390297 0 21696 JOHN H TURPISH EVP/CFO 40.0 0.0 X 348486 0 24496 KATHRYN A BONAVENTURA CHIEF LENDING OFFICER 40.0 0.0 X 316002 0 13184 RANDY C SWIFT SVP - MEMBER SERVICES 40.0 0.0 X 273121 0 12427 JUDITH T WALZ SVP - MARKETING & PLANNING 40.0 0.0 X 289013 0 15211 AKIN AGAR CHIEF INFORMATION OFFICER 40.0 0.0 X 316742 0 20004 VICKI L ADAMS Chief Risk Officer 40.0 0.0 X 271785 0 21549 ROBERT L DAVIS SVP - HUMAN RESOURCES 40.0 0.0 X 281087 0 13956 Gary Schuette Vice President Finance 40.0 0.0 X 254112 0 10812 3625854 0 194453 88 false true false NCP SOLUTIONS LLC PO BOX 550665 JACKSONVILLE FL 322550665 MEMBER SERVICES 3344279 DANA B KENYON COMPANY 5772 TIMUQUANA ROAD JACKSONVILLE FL 322108059 CONSTRUCTION 5330053 FISERV PO BOX 745148 ATLANTA GA 303745148 BANKING & PAYMENT 5643511 FISERV SOLUTIONS PO BOX 300016 DULUTH GA 300960300 BANKING & PAYMENT 8651746 PSCU 560 CARILLON PKWY ST PETERSBURG FL 337161294 CARD SERVICES 9745855 130 0 0 0 INTEREST ON LOANS 525990 163573907 163573907 0 0 FEES & COMMISSIONS 525990 85823910 82987955 2835955 0 TITLE AGENCY 531390 79074 0 79074 0 GAIN ON SALE OF LOANS 525990 658163 658163 0 0 CR LIFE & DISAB, GAP, VIS 525990 6318246 6318246 0 0 256453300 21839000 21839000 0 0 20804 20804 0 20804 20804 1997323 1882661 114662 114662 114662 0 0 0 OTHER REVENUE 525990 465 465 0 0 465 278428231 253653398 2915029 21859804 0 0 0 0 0 0 0 0 2326036 0 0 0 0 0 0 67584061 0 0 1539071 0 0 6949248 0 0 5446293 0 0 0 0 0 0 319815 0 0 191653 0 0 0 0 0 0 0 0 0 0 0 0 4793957 0 0 0 4962694 0 0 55618415 0 0 4372163 0 0 0 0 0 0 5914339 0 0 288624 0 0 0 0 0 0 564193 0 0 14752946 0 0 0 0 0 0 9857410 0 0 849854 0 0 INTEREST PAID TO MEMBERS 25062243 0 0 PROVISION FOR LOAN LOSSES 5975101 0 0 MEMBER ACCOUNT LOSSES 2296753 0 0 ALL OTHER EXPENSES 8557493 0 0 228222362 0 0 0 0 52148407 52406275 390041599 671732983 0 0 6567467 5720960 0 0 0 0 3934365253 4424086050 0 0 0 0 217644455 89720304 118926459 127924151 1049250895 1139034086 0 0 29768901 47652411 0 0 71727467 83430254 5652796448 6551987170 52429501 85062547 0 0 0 0 0 0 0 0 0 0 487084760 887904912 0 0 4579090937 5003420931 5118605198 5976388390 X 0 0 0 0 534191250 575598780 534191250 575598780 5652796448 6551987170 X 50205869 -8852639 0 0 0 54300 X false true X true false 0 60211999 60211999 80643930 31485810 49158120 7765640 6030522 1735118 69022886 52203972 16818914 127924151 0 MEMBER DEPOSITS 5002227561 CONTINGENT LIABILITY 1193370 5003420931 278292765 0 0 278292765 135466 135466 278428231 228086896 0 0 228086896 135466 135466 228222362 PART XI, LINE 4B: OTHER AMOUNTS INCLUDED ON FORM 990, PART VIII LINE 12 BUT NOT INCLUDED IN PART XI, LINE 1: RENTAL INCOME 20,804 GAIN- SALE OF ASSETS- OTHER THAN INVENTORY 114,662 TOTAL LINE 4B 135,466 PART XII, LINE 4B: OTHER AMOUNTS INCLUDED ON FORM 990, PART XI LINE 12 BUT NOT INCLUDED IN PART XII, LINE 1: RENTAL INCOME 20,804 GAIN- SALE OF ASSETS- OTHER THAN INVENTORY 114,662 TOTAL LINE 4B 135,466 X true true X X X X false false false TERRY R WEST President/CEO 643293 0 196498 0 32567 0 19600 0 21518 0 913476 0 0 0 RICHARD G ALFIREVIC EVP/COO 339665 0 36265 0 14367 0 10600 0 11096 0 411993 0 0 0 JOHN H TURPISH EVP/CFO 306177 0 25626 0 16683 0 10600 0 13896 0 372982 0 0 0 KATHRYN A BONAVENTURA CHIEF LENDING OFFICER 291227 0 23554 0 1221 0 10600 0 2584 0 329186 0 0 0 RANDY C SWIFT SVP - MEMBER SERVICES 233266 0 28034 0 11821 0 10600 0 1827 0 285548 0 0 0 JUDITH T WALZ SVP - MARKETING & PLANNING 257282 0 29534 0 2197 0 10600 0 4611 0 304224 0 0 0 AKIN AGAR CHIEF INFORMATION OFFICER 285176 0 31102 0 464 0 9249 0 10755 0 336746 0 0 0 VICKI L ADAMS Chief Risk Officer 242416 0 27978 0 1391 0 10600 0 10949 0 293334 0 0 0 ROBERT L DAVIS SVP - HUMAN RESOURCES 255589 0 21881 0 3617 0 10600 0 3356 0 295043 0 0 0 Gary Schuette Vice President Finance 186700 0 50000 0 17412 0 6580 0 4232 0 264924 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. 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 OR 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 VACANIES. 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 54,300 VYSTAR FINANCIAL GROUP LLC 760 RIVERSIDE AVE JACKSONVILLE FL 322043335 593683267 INS TITLE/RE FL 2994664 12633267 VYSTAR CR UN