2017-10-18T12:40:58-05:00 2016-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2016-01-01 590873652 ENVISION CREDIT UNION ENVI 8509429000 440 N MONROE STREET TALLAHASSEE FL 32301 STEPHANIE STRAKER SVP OF FINANCE 8509429000 2017-10-18 1 DOUGLAS J ORTH P01076394 3052328272 40.141.134.7 2017-10-18 13:31:36 ED P 6C9B1A35775087DBDB8A6D25ECA509C7F6C27838 1353DC092BF0A9AADCA388267C2932B6E10091D4 2016 2021-01-29 14:40:06Z MR DARRYL WORRELL 440 N MONROE ST TALLAHASSEE FL 32301 57743344 0 2106 X WWW.ENVISION.COM X 1954 FL TO SAFEGUARD AND MANAGE THE ASSETS ENTRUSTED TO THE CREDIT UNION BY ITS MEMBER-OWNERS; TO BETTER THE ECONOMIC WELL BEING OF OUR MEMBER-OWNERS BY DELIVERING CONVENIENT PERSONALIZED PRODUCTS AND SERVICES OF EXCEPTIONAL VALUE. 7 7 207 10 300225 122486 0 0 13206802 19026933 1186588 2284041 6495303 4841578 20888693 26152552 0 0 0 0 5396777 7961963 0 0 0 10986591 15743301 16383368 23705264 4505325 2447288 303045242 451662818 276490038 413066877 26555204 38595941 MEET MEMBERS' FINANCIAL NEEDS THROUGH QUALITY SERVICE AT THE BEST VALUE WHILE MAINTAINING FINANCIAL STABILITY. 0 0 INCOME FROM THE CREDIT UNION MEMBERSHIP AND FROM INVESTMENT OF MEMBERS' FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 1 12741 0 1 207 1 1 1 0 0 0 0 0 X 7 7 1 0 1 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X MR DARRYL WORRELL 8509429000 440 N MONROE ST TALLAHASSEE FL 32301 DR JIM CROTEAU CHAIRPERSON 1.00 X 0 0 0 THOMAS B PERRIN 1ST VICE CHAIR 1.00 X 0 0 0 DR KAREN SAMUEL BOARD MEMBER 1.00 X 0 0 0 M CHRISTOPHER BRYANT TREASURER 1.00 X 0 0 0 DR SAM CCALL 2ND VICE CHAIR 1.00 X 0 0 0 LEE GARNER BOARD MEMBER 1.00 X 0 0 0 DARRYL G WORRELL PRESIDENT/CEO 40.00 X 289560 0 37156 STEPHANIE STRAKER SVP FINANCE 40.00 X 97270 0 6417 HOLLIE MADDOX SVP MEMBER SERVICES 40.00 X 175254 0 17348 ANICE R PROSSER CAO/SVP ADMINISTRATION 40.00 X 152055 0 16443 WILLIAM ENFINGER SVP/ CHIEF LENDING OFFICER 40.00 X 166611 0 27448 KEVIN MCALPINE VP COMMERCIAL LENDING 40.00 X 192679 0 22597 1073429 0 127409 5 0 1 0 FIS PO BOX 4535 CAROL STREAM CAROL STREAM IL 601974535 VISA CARD SERVICES 2096193 UNITED SOLUTIONS COMPANY PO BOX 5496 TALLAHASSEE FL 32314 OPTICAL SERVICES 1898166 NCR 14181 COLLECTIONS CENTER DR CHICAGO IL 60693 ATM SERVICES 1345896 WILLIAMS GAUTIER GWYNN DELOACH & SORE PO BOX 4128 TALLAHASSEE FL 323154128 LEGAL SERVICES 332835 CONSTRUCTIONS & MAINTENANCE SPECIALISTS 3550 LAKESHORE DRIVE TALLAHASSEE FL 32312 BLDG & LAWN MAINTENANCE 283165 18 INTEREST ON LOANS 522100 13777336 13777336 FEES/CHARGES/OTHER 522100 4949372 4949372 NON MEMBERS ATM FEES 900099 279792 279792 NON MEMBER CHECK CASHING FEES 900099 20433 20433 19026933 1942354 1942354 30965660 966819 30643610 947182 322050 19637 341687 341687 OTHER OPERATING INCOME 522100 3820785 3820785 GAIN ON MERGER 522100 571730 571730 OTHER NON-OPERATING INCOME 522100 449063 449063 4841578 26152552 25852327 300225 0 X 623005 5766036 280974 808914 483034 404289 57214 17079 746519 672040 974504 1908923 220245 58408 32607 1044826 42474 1025031 192270 VISA/DEBIT FEES/CHARGES 2225371 LOAN SERVICING 1297950 PROVISION FOR LOAN LOSS 1257705 ATM/DEBIT MISC LOSSES 707371 2858475 23705264 7036686 13147340 27692046 12709084 2752274 2112496 5697305 6583133 169145302 299425730 388976 797381 25408727 11500087 10264655 13908640 65968876 80369964 589800 397200 583333 13509322 21628517 303045242 451662818 5158404 8860204 7500000 263831634 404206673 276490038 413066877 X 0 0 0 0 26555204 38595941 26555204 38595941 303045242 451662818 X 2447288 -108947 9702396 X X 0 1 X 1 0 4525305 4525305 12288451 5571192 6717259 275631 115170 160461 8319340 5813725 2505615 13908640 CHECKING ACCOUNTS 101636022 REGULAR SHARES 158635537 MONEY MARKET 76909297 CERTIFICATES OF DEPOSIT 55658734 IRA/KEOGH 11367083 404206673 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL AND STATE INCOME TAXES. THE INCOME TAXES TOPIC OF THE FASB ASC CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE 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 (UBIT). 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 EQUAL TO, GREATER, OR LESS THAN THE YEARS OPEN FOR EXAMINATION BY THE IRS. X 1 1 X X X X X 0 1 0 DARRYL G WORRELL PRESIDENT/CEO 264625 0 15500 0 9435 0 16249 0 20907 0 326716 0 0 0 HOLLIE MADDOX SVP MEMBER SERVICES 152737 0 22087 0 430 0 10594 0 6754 0 192602 0 0 0 ANICE R PROSSER CAO/SVP ADMINISTRATION 129981 0 20355 0 1719 0 9689 0 6754 0 168498 0 0 0 WILLIAM ENFINGER SVP/ CHIEF LENDING OFFICER 150761 0 15810 0 40 0 16379 0 11069 0 194059 0 0 0 KEVIN MCALPINE VP COMMERCIAL LENDING 129512 0 53575 0 9592 0 15929 0 6668 0 215276 0 0 0 PART I, LINE 4B THE FOLLOWING EMPLOYEES PARTICIPATED IN A 457(F) PLAN. ANICE PROSSNER (AMOUNT EQUAL TO 6 MONTHS SALARY ON RETIREMENT AFTER A PRE-DETERMINED DATE). DARRY J WORRELL PARTICIPATES IN A SECURED SPLIT DOLLAR PROGRAM WHERE BY ECU LOANS THE OFFICER FUNDS FOR THE PURCHASE OF TWO LIFE INSURANCE POLICIES. THE FIRST POLICY IS KNOWN AS THE REPAYMENT POLICY AND IS DESIGNED TO REPAY THE CREDIT UNION THE AMOUNT OF THE LOAN PLUS INTEREST UPON THE DEATH OF THE INSURED. THE SECOND POLICY FOCUSES ON FUNDING THE EXECUTIVE LOANS TO SUPPLEMENT RETIREMENT INCOME. WILLIAM ENFINGER PARTICIPATES IN A SECURED SPLIT DOLLAR PROGRAM WHEREBY ECU LOANS THE OFFICER FUNDS FOR THE PURCHASE OF TWO LIFE INSURANCE POLICIES. THE FIRST POLICY IS KNOW AS THE REPAYMENT POLICY AND IS DESIGNED TO REPAY THE CREDIT UNION THE AMOUNT OF THE LOANPLUS INTEREST UPON THE DEATH OF THE INSURED. THE SECOND POLICY FOCUSES ON FUNDING THE EXECUTIVE LOANS TO SUPPLEMENT RETIREMENT INCOME. THIS WAS AN EXISTING POLICY THAT WAS CONTINUED AFTER THE MERGER OF FOCUS CREDIT UNION, EFFECTIVE AS OF FEBRUARY 1, 2016. KEVIN MCALPINE HAS A LIFE INSURANCE POLICY THAT SERVES AS A RETIREMENT VEHICLE; THE POLICY PREMIUM AMOUNT IS GROSSED UP AND PAID THE ANNUAL PREMIUM. DARRYL WORRELL PRESIDENT/CEO TO FUND DEFERRED COMPENSATION PLAN X 5851580 5342177 0 1 1 WILLIAM ENFINGER SVP/CHIEF LENDING OFFICER TO FUND LIFE INSURANCE POLICY X 1250000 1240956 0 1 1 6583133 FORM 990, PART VI, SECTION A, LINE 2 BOARD SECRETARY, ALLETA SHUTES HAS A BUSINESS RELATIONSHIP MAINTAINED AT THE CREDIT UNION. FORM 990, PART VI, SECTION A, LINE 4 AS A RESULT OF THE MERGER WITH FOCUS CREDIT UNION WHICH BECAME EFFECTIVE FEBRUARY 1, 2016, THE CREDIT UNION'S BYLAWS WERE UPDATED. THESE UPDATES INCLUDED THE FOLLOWING: (1) FIELD OF MEMBERSHIP EXPANDED TO INCLUDE THE FOCUS MARKETS. (2) THE NUMBER OF BOARD MEMBERS WAS CHANGED FROM "5 MEMBERS" TO "AT LEAST 5 MEMBERS." (3) REQUIRED MINIMUM SHARE BALANCE CHANGED FROM $25 TO $5. (4) THE NUMBER OF SUPERVISOR COMMITTEE MEMBERS WAS CHANGED FROM "3 MEMBERS" TO "AT LEAST 3 MEMBERS." FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION MEMBERSHIP MAY PARTICIPATE IN THE ELECTION OF OFFICIALS. EACH MEMBER HAS ONLY ONE VOTE; IT IS NOT POSSIBLE FOR A SINGLE MEMBER TO ELECT A MEMBER TO THE GOVERNING BODY. 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 B, LINE 11B WHEN THE FORM 990 HAS BEEN COMPLETED BY THE CPA FIRM AND RECEIVED BY ECU, IT IS REVIEWED FIRST BY THE CFO FOR ACCURACY, THEN BY THE CEO AND LATER BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C COMPLIANCE WITH THE CREDIT UNION'S OFFICER, DIRECTOR, AND EMPLOYEE POLICIES REGARDING CONFLICTS OF INTEREST ARE ADDRESSED IN THE RELATED POLICIES. FORM 990, PART VI, SECTION B, LINE 15 IT IS THE POLICY OF THE CREDIT UNION TO PAY COMPENSATION THAT IS NONDICRIMINATORY AND COMPETITIVE. HOWEVER, ALL COMPENSATION POLICY DECISIONS MUST TAKE INTO CONSIDERATION, ENVISION CREDIT UNION'S OVERALL FINANCIAL CONDITION AND COMPETITIVE POSITION. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S GOVERNING DOCUMENTS ARE NOT MADE AVAILALBE TO THE PUBLIC. THE CREDIT UNION'S CONFLICT OF INTEREST POLICY IS NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC VIEWING ON THE NCUA WEBSITE, VIA THE QUARTERLY 5300 FILING. FORM 990, PART IX, LINE 24E MAINTENANCE CONTRACTS 618,133. OFFICER LOAN ADJUSTMENT 521,014. MISC. EXPENSE 441,313. EQUIPMENT RENTAL/MAINTENANCE 373,545. ATM/DEBIT VISA NETWORK COSTS 334,678. EDUCATION 220,095. REAL ESTATE/TANGIBLE TAXES 171,555. NCUA ASSESSMENT 101,057. CASH OVER/SHORT 73,441. LOSS ON SECURITIES 3,644. FORM 990, PART XI, LINE 9: RECLASSIFICATION ADJUSTMENTS FOR NET INVESTMENT GAINS INCLUDED IN NET INCOME -322,049. NET PENSION GAINS 478,422. EQUITY ACQUIRED IN MERGER 9,546,023. 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. 1ST MEMBER INSURANCE GROUP 303 EAST WASHINGTON STREET CHATTAHOOCHEE FL 32324 141925692 INSURANCE & FINANCIAL PLAN FL 9849 165509 ENVISION CR UNION FRENCHTOWN FINANCIAL CENTER 2806 SHARER ROAD TALLAHASSEE FL 32312 FINANCIAL CENTER FL RELATED -60894 64106 0 0 0.50000 IDRIVE LENDING LLC 2806 SHARER ROAD TALLAHASSEE FL 32312 461603351 INDIREDCT AUTO LENDING FL RELATED 42044 77166 0 0 0.50000 UNITED SOLUTIONS COMPANY PO BOX 5496 TALLAHASSEE FL 32314 592285914 CU SERVICES FL C -32820 2052933 0.77810 0 1 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 UNITED SOLUTIONS COMPANY D 4973096 PRINCIPAL BALANCE UNITED SOLUTIONS COMPANY A 224804 ACTUAL INTEREST EARNED ON LOAN UNITED SOLUTIONS COMPANY S 256950 USC DEPOSITS AT ENVISION CU-12/31 UNITED SOLUTIONS COMPANY M 1657423 ACTUAL DATA PROCESSING EXPENSE 1ST MEMBERS S 168554 DEPOSIT AT ENVISION CU FRENCHTOWN FIANCIAL OPPORTUINTY CENTER B 125000 CAPITAL CONTRIBUTION