2017-09-28T12:27:22-05:00 2016-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2016-01-01 590687423 FIRST COMMERCE CREDIT UNION FIRS 8005335772 2073 SUMMIT LAKE DRIVE NO 100 TALLAHASSEE FL 32317 DENNIS G ADAMS SVP/CFO 8005335772 2017-09-28 1 DOUGLAS J ORTH P01076394 3052328272 50.235.194.18 2017-09-28 13:26:12 ED P 6C9B1A35775087DBDB8A6D25ECA509C7F6C27838 062293E64DF58CF8D35332F263D6456F83B37FCF 2016 2021-01-29 14:40:06Z CECILIA HOMISON 2073 SUMMIT LAKE DRIVE SUITE 100 TALLAHASSEE FL 32317 30373568 0 2106 X WWW.FIRSTCOMMERCECU.ORG X 1940 FL TO PROVIDE SERVICES AND EDUCATION TO MEMBERS IN THE FRAMEWORK OF A FINANCIAL COOPERATIVE. 7 7 165 11 69642 -43120 0 0 25740597 26204586 710037 1087654 2741313 2531486 29191947 29823726 0 0 0 0 9303936 9755496 0 0 0 15731232 16545952 25035168 26301448 4156779 3522278 481046471 512717232 421967094 450245401 59079377 62471831 TO BE OUR MEMBERS' FINANCIAL PARTNERS FOR LIFE. 0 0 TALLAHASSEE'S #1 AUTO LENDING PROGRAM FOR OVER A DECADE- FIRST COMMERCE HAS EARNED THE TITLE OF TALLAHASSEE'S NUMBER ONE AUTO LENDER YEAR AFTER YEAR. THIS TITLE HAS BEEN CONSISTENTLY EARNED BECAUSE THE CREDIT UNION OFFERS A RANGE OF AUTO LOAN CHOICES FOR ALMOST EVERY BUDGET AND CREDIT LEVEL. FIRST COMMERCE'S FLEXIBLE TERMS AND COMPETITIVE RATES ALLOW MEMBERS TO PURCHASE THE VEHICLE THEY NEED AT A MONTHLY PAYMENT THEY CAN AFFORD. MORE THAN 10,500 MEMBERS CURRENTLY ENJOY THE MOST CONSUMER-FRIENDLY AUTO LOAN PROGRAM IN THE AREA. BUSINESS SERVICES PROGRAM - FIRST COMMERCE CREDIT UNION HAS BEEN AN INNOVATOR IN THE DELIVERY OF SERVICES TO ITS MEMBERS. FCCU HAS ADAPTED TO A CHANGING WORLD WHILE REMAINING FOCUSED ON THE MISSION TO BE "PEOPLE HELPING PEOPLE AND BUILDING A TRUSTED FINANCIAL INSTITUTION THAT NOW HAS ELEVEN BRANCHES AND 48,000 MEMBERS. TODAY, IN ADDITION TO PROVIDING SERVICES FOR THE VARIED FINANCIAL NEEDS OF INDIVIDUAL MEMBERS, FCCU OFFERS IBIZ, A BUSINESS SERVICES PROGRAM, WITH A NEW AND EXCITING LINE OF SERVICES FOR BUSINESSES OF ALL SIZES. IBIZ INCLUDES FREE AND INTEREST-BEARING CHECKING OPTIONS, MERCHANT SERVICES, PAYROLL SERVICES, BUSINESS LENDING, BUSINESS CREDIT CARDS, AND SBA LENDING. FIRST COMMERCE OFFERS A WIDE ARRAY OF ELECTRONIC SERVICES TO MEMBERS. MORE THAN 20,000 MEMBERS UTILIZE IBRANCH! ONLINE BANKING TO KEEP TRACK OF THEIR ACCOUNTS, MAKE TRANSFERS, AND PAY BILLS. FCCU'S BILL PAY OFFERS SAME DAY BILL PAY AND OVERNIGHT CHECK OPTIONS TO GIVE MEMBERS FLEXIBILITY IN HOW THEY MAKE THEIR PAYMENTS. PERSON-TO-PERSON PAYMENTS (P2P) AND ACCOUNT-TO-ACCOUNT (A2A) TRANSFERS, ALSO LOCATED WITHIN BILL PAY, GIVE MEMBERS CONVENIENT OPTIONS IN MOVING THEIR MONEY. ABOUT HALF OF OUR ACTIVE ONLINE BANKING USERS HAVE ENROLLED IN IBRANCHMOBILE!. FCCU ALSO PRESENTS MEMBERS AND NON-MEMBERS WITH OPTIONS TO OPEN AN ACCOUNT, APPLY FOR AUTO OR PERSONAL LOANS, AND APPLY FOR A MORTGAGE ONLINE. THE FIRST COMMERCE MOBILE DEPOSIT APPLICATION SERVES MORE THAN 3,000 MEMBERS WHO DEPOSIT OVER $7MILLION EACH YEAR. 0 0 1 0 0 0 0 1 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 7271 0 1 165 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 1 1 1 1 0 X WILMA WOOTEN CONTROLLER 8504103563 2073 SUMMIT LAKE DRIVE SUITE 100 TALLAHASSEE FL 32317 JERRY OSTERYOUNG CHAIRMAN 1.00 X 0 0 0 RIVERS BUFORD III VICE CHAIRMAN 1.00 X 0 0 0 MIKE GOMEZ TREASURER 1.00 X 0 0 0 ALAN NEUBAUER DIRECTOR 1.00 X 0 0 0 CANITA PETERSON SECRETARY 1.00 X 0 0 0 KATHY ARRANT DIRECTOR 1.00 X 0 0 0 JOHN GRAYSON DIRECTOR 1.00 X 0 0 0 CECILIA HOMISON CEO 40.00 X 371349 0 39845 DENNIS G ADAMS SVP/CFO 40.00 X 199573 0 20879 MARY ESTES EXECUTIVE VICE PRESIDENT 40.00 X 232304 0 98715 CARLA DEBALDO SVP OF SALES/RETAIL 40.00 X 170724 0 18764 JOHN MEDINA SVP/CXO 40.00 X 150748 0 11171 WILLIAM FOGARTY SVP/CCO 40.00 X 158603 0 13080 SHERWOOD BROWN BUSINESS SERVICES MANAGER 40.00 X 135034 0 9861 JEFF ASKINS SVP/LPL FINANCIAL PLANNER 40.00 X 151659 0 17238 DONNA CARSON UTECHT VP OF PEOPLE 40.00 X 148242 0 17241 WILMA WOOTEN CONTROLLER 40.00 X 128524 0 9521 CHRISTOPHER FOX DIRECTOR OF IT 40.00 X 123446 0 13245 1970206 0 269560 19 0 1 0 FISERV PO BOX 60000 SAN FRANCISCO CA 94160 DATA PROCESSING/HOME BANKING 1929676 NCR CORPORATION 14181 COLLECTIONS CTR DR CHICAGO IL 60693 TECHNOLOGY SERVICES 1226247 THIRD DEGREE ADVERTISING AND COMMUNICATI PO BOX 578 NORMAN OK 73070 ADVERTISING 882047 JACK HENRY AND ASSOCIATES INC PO BOX 609 MONETT MO 65708 DATA PROCESSING 522193 MAD DOG DESIGN CONSTRUCTION 1203 MICCOSUKEE RD TALLAHASSEE FL 32308 CONSTRUCTION 204560 18 LOANS TO MEMBERS 522100 17062228 17062228 FEES AND SERVICES 522100 9072716 9072716 UNRELATED BUSINESS INCOME 900099 69642 69642 26204586 699060 699060 1098089 0 1098089 1098089 1098089 938436 549842 388594 388594 388594 GAP/WARRANTY AND INSURANCE PREMIU 522100 781461 781461 MISCELLANEOUS 522100 377185 377185 MORTGAGE COMMISSION FEES 522220 274751 274751 1433397 29823726 29754084 69642 0 X 1485755 1485755 6183444 6183444 354586 354586 1174723 1174723 556988 556988 41005 41005 283066 283066 235736 235736 816451 816451 1444499 1444499 733839 733839 240462 240462 913511 913511 164834 164834 56543 56543 2141342 2141342 70924 70924 1562545 1562545 173226 173226 PROVISION FOR LOAN LOSS 2357281 2357281 DEBIT CARD FEES AND REB 1615803 1615803 MAINTENANCE AND RENTAL 1125772 1125772 LOAN SERVICING 807635 807635 1761478 1761478 26301448 26301448 0 0 6720882 6008121 68816783 60950906 318516 351431 1514464 1605904 361086507 387517767 690644 1019600 46829542 13924390 31423359 32905152 248712 11785556 2805601 2742141 7421003 7830654 481046471 512717232 6468371 9451643 262969 344997 55376190 52090476 359859564 388358285 421967094 450245401 X 0 0 0 0 59079377 62471831 59079377 62471831 481046471 512717232 3522278 -129824 0 X X 0 1 X 1 0 15250 15250 15250 1 CREDIT UNION POLITICAL ACTION COUNCIL (CUPAC) 3773 COMMONWEALTH BLVD TALLAHASSEE FL 32303 590246163 15000 CURTIS RICHARDSON 533 TUSKEGEE ST TALLAHASSEE FL 32305 270208077 250 0 1 X 8739688 8739688 28261457 6115287 22146170 988996 677164 311832 8839401 7131939 1707462 32905152 SHARE DRAFTS 94746076 SHARES 81711721 MONEY MARKET 94446382 IRA SHARES 16865316 CERTIFICATES 100588790 388358285 X PART IV, LINE 2B: AS A LOAN SERVICER, THE CREDIT UNION RECEIVES PRINCIPAL PAYMENTS, INTEREST PAYMENTS, TAX PAYMENTS AND INSURANCE PAYMENTS AND THEN REMITS THESE FUNDS TO THE APPLICABLE THIRD PARTIES ON BEHALF OF THE BORROWERS. PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL AND STATE INCOME TAXES; HOWEVER, THE CREDIT UNION'S WHOLLY OWNED CUSO IS SUBJECT TO FEDERAL AND STATE INCOME TAXES. THE INCOME TAXES TOPIC OF THE FASB ASC CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE INTERPRETATION PROVIDES CRITERIA FOR ASSESSMENT OF INDIVIDUAL TAX POSITIONS AND A PROCESS FOR RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. TAX POSITIONS ARE EVALUATED ON WHETHER THEY MEET THE "MORE LIKELY THAN NOT" STANDARD FOR SUSTAINABILITY UPON EXAMINATION BY TAX AUTHORITIES. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION AS DEFINED 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 DIRECTLY RELATED TO ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (UBI) DERIVED BY STATE-CHARTERED CREDIT UNIONS. BEGINNING IN MARCH 2008, THE INTERNAL REVENUE SERVICE (IRS) RELEASED TECHNICAL ADVICE MEMORANDUMS (TAMS) TO SPECIFIC STATE-CHARTERED CREDIT UNIONS SPECIFYING THE REVENUE SOURCES SUBJECT TO UNRELATED BUSINESS INCOME TAX. UBI MAY ALSO BE SUBJECT TO TAX IN CERTAIN STATES. MANAGEMENT HAS ASSESSED THE CREDIT UNION'S ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY AND DETERMINED THAT THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. ADDITIONALLY, NO INTEREST AND PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. CURRENTLY, THE 2015, 2014, AND 2013 FEDERAL INCOME TAX RETURNS ARE OPEN FOR EXAMINATION BY THE IRS. THE FILING YEARS OPEN FOR EXAMINATION BY THE STATE, IF APPLICABLE, MAY BE DIFFERENT THAN THE YEARS OPEN FOR EXAMINATION BY THE IRS. X X X 1 1 X X X 1 1 0 CECILIA HOMISON CEO 313093 0 44000 0 14256 0 18205 0 21640 0 411194 0 0 0 DENNIS G ADAMS SVP/CFO 177151 0 19564 0 2858 0 13770 0 7109 0 220452 0 0 0 MARY ESTES EXECUTIVE VICE PRESIDENT 208055 0 22607 0 1642 0 86103 0 12612 0 331019 0 0 0 CARLA DEBALDO SVP OF SALES/RETAIL 154473 0 13860 0 2391 0 11783 0 6981 0 189488 0 0 0 JOHN MEDINA SVP/CXO 147808 0 0 0 2940 0 10347 0 824 0 161919 0 0 0 WILLIAM FOGARTY SVP/CCO 134551 0 9300 0 14752 0 5754 0 7326 0 171683 0 0 0 JEFF ASKINS SVP/LPL FINANCIAL PLANNER 85000 0 65149 0 1510 0 10528 0 6710 0 168897 0 0 0 DONNA CARSON UTECHT VP OF PEOPLE 132638 0 14203 0 1401 0 10279 0 6962 0 165483 0 0 0 PART I, LINES 4A-B BILL FOGARTY RECEIVED SEVERANCE PAY OF $13,875 DURING 2016. CECILIA HOMISON PARTICIPATES IN A SECURED SPLIT DOLLAR PROGRAM WHEREBY FCCU LOANS THE OFFICER FUNDS FOR THE PURCHASE OF TWO LIFE INSURANCE POLICIES. THE FIRST POLICY IS KNOWN AS THE REPAYMENT POLICY AND IS SPECIFICALLY DESIGNED TO REPAY THE CREDIT UNION THE AMOUNT OF THE LOAN PLUS INTEREST UPON THE DEATH OF THE INSURED. THE SECOND POLICY IS THE ACCUMULATION POLICY AND IT IS DESIGNED TO PROVIDE FOR FUTURE POLICY LOANS AND DEATH BENEFIT PROTECTION FOR THE OFFICER. CECILIA D HOMISON CEO LIFE INSURANCE FUNDING X 1524027 1605904 0 1 1 1605904 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS MEMBERS. THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNION'S MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IN THE FORM OF CASH DIVIDENDS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. 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 THE MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11B THE ACCOUNTING DEPARTMENT DOES VERIFY AND TIE OUT THE FIGURES TO THE FINANCIAL STATEMENTS. FORM 990, PART VI, SECTION B, LINE 12C THE EXTERNAL AUDITORS PERFORM AN AUDIT OF EMPLOYEE ACCOUNTS AND THEIR RESPECTIVE FINANCIAL AND GENERAL LEDGER TRANSACTIONS ON A QUARTERLY BASIS TO MONITOR AND VERIFY THAT THERE ARE NO TRANSACTIONS PERFORMED BY THE EMPLOYEE AND/OR ON THEIR RESPECTIVE ACCOUNT THAT ARE IMPROPER AND/OR CONFLICT WITH THEIR JOB RESPONSIBILITIES. FORM 990, PART VI, SECTION B, LINE 15 A MINIMUM OF ONCE A YEAR, COMPARABLE COMPENSATION DATA IS RESEARCHED USING MULTIPLE RESOURCES INCLUDING COMPDATASURVEYS (BANKING AND FINANCE), CUES SURVEYS AND CUNA SURVEYS. USING THE TEN POINT FACTORS, ALL POSITIONS ARE EVALUATED FOR BOTH INTERNAL AND EXTERNAL EQUITY TO DETERMINE THE APPROPRIATE SALARY RANGE. THIS RANGE IS APPROVED BY THE CEO AND REVIEWED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 CONFLICTS OF INTEREST POLICIES ARE NOT PUBLICLY PUBLISHED. QUARTERLY FINANCIALS ARE PUBLISHED AT THE ENTRANCE OF EACH OF THE BRANCH OFFICES, THE CALL REPORT IS FILED QUARTERLY WHICH IS PUBLIC INFORMATION AND OUR ANNUAL REPORT IS AVAILABLE TO ALL MEMBERS WHICH CONTAINS FINANCIALS. IF REQUESTED, BY-LAWS WOULD BE MADE AVAILABLE FOR VIEWING AT THE ADMINISTRATIVE OFFICES. FORM 990, PART IX, LINE 24E BILL PAY/MOBILE BANKING: PROGRAM SERVICE EXPENSES 770,006. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 770,006. MISCELLANEOUS: PROGRAM SERVICE EXPENSES 460,574. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 460,574. EDUCATION AND TRAINING: PROGRAM SERVICE EXPENSES 206,347. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 206,347. ATM EXPENSES: PROGRAM SERVICE EXPENSES 170,119. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 170,119. OREO RELATED EXPENSES/LOSSES: PROGRAM SERVICE EXPENSES 74,884. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 74,884. SUBSCRIPTIONS: PROGRAM SERVICE EXPENSES 70,706. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 70,706. GOVERNMENT AFFAIRS/EVENTS: PROGRAM SERVICE EXPENSES 8,842. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 8,842. FORM 990, PART XII, LINE 2C THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. SIX PILLARS FINANCIAL ADVISORS LLC 2073 SUMMIT LAKE DRIVE SUITE 100 TALLAHASSEE FL 32317 453322731 FINANCIAL ADVISORS FL 537570 54933 FIRST COMMERCE CREDIT UNION 1