2016-11-15T15:34:14-06:00 2015-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2015-01-01 590687423 FIRST COMMERCE CREDIT UNION FIRS 8005335772 2073 SUMMIT LAKE DRIVE NO 100 TALLAHASSEE FL 32317 CECILIA HOMISON CEO 8005335772 2016-11-15 1 DOUGLAS J ORTH P01076394 3052328272 2015 2017-02-10 21:41:12Z CECILIA HOMISON 2073 SUMMIT LAKE DRIVE SUITE 100 TALLAHASSEE FL 32317 30003782 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 77683 -38178 0 0 24735884 25740597 554862 710037 3614036 2741313 28904782 29191947 0 0 0 0 8983524 9303936 0 0 0 13901237 15731232 22884761 25035168 6020021 4156779 435709840 481046471 380785954 421967094 54923886 59079377 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 10,000 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 7437 0 1 165 1 1 1 0 0 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 JR PHELPS 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 375327 0 51535 DENNIS G ADAMS SVP/CFO 40.00 X 181641 0 20553 MARY ESTES EXECUTIVE VICE PRESIDENT 40.00 X 225867 0 93803 CARLA DEBALDO SVP OF SALES/RETAIL 40.00 X 171125 0 19688 JOHN MEDINA PRESIDENT/INVESTMENT DIVISION 40.00 X 157504 0 11491 WILLIAM FOGARTY SVP/CCO 40.00 X 161221 0 10962 JEFF BOND FORMER VP AND CIO 40.00 X 148840 0 9167 SHERWOOD BROWN BUSINESS SERVICES MANAGER 40.00 X 134989 0 9887 JEFF ASKINS FINANCIAL ADVISOR 40.00 X 150762 0 18049 CARSON UTECHT VP OF PEOPLE 40.00 X 148016 0 20279 WILMA WOOTEN CONTROLLER 40.00 X 127273 0 9495 1982565 0 274909 18 0 1 0 ADAPT TELEPHONY SERVICES LLC 600 ENTERPRISE DR 204 OAK BROOK IL 60523 COMMUNICATIONS 2382552 FISERV PO BOX 60000 SAN FRANCISCO CA 94160 DATA PROCESSING/HOME BANKING 1608157 THIRD DEGREE ADVERTISING AND COMMUNICATI PO BOX 578 NORMAN OK 73070 ADVERTISING 785558 JACK HENRY AND ASSOCIATES INC PO BOX 609 MONETT MO 65708 DATA PROCESSING 504131 NCR CORPORATION 14181 COLLECTIONS CTR DR CHICAGO IL 60693 TECHNOLOGY SERVICES 181906 11 LOANS TO MEMBERS 522100 16717685 16717685 FEES AND SERVICES 522100 8945229 8945229 UNRELATED BUSINESS INCOME 900099 77683 77683 25740597 423485 423485 1098387 811835 286552 286552 286552 MISCELLANEOUS INCOME 522100 2741313 2741313 2741313 29191947 29114264 77683 0 X 1480717 1480717 5802433 5802433 334017 334017 1165582 1165582 521187 521187 59815 59815 179240 179240 175947 175947 647191 647191 1264197 1264197 857448 857448 157973 157973 823225 823225 153799 153799 135956 135956 2487040 2487040 64782 64782 1523341 1523341 243642 243642 PROVISION FOR LOAN LOSS 1966528 1966528 DEBIT CARD FEES AND REB 1524174 1524174 MAINTENANCE AND RENTAL 1115247 1115247 LOAN SERVICING 719339 719339 1632348 1632348 25035168 25035168 0 0 5981906 6720882 38570164 68816783 531102 318516 1540398 1514464 346360922 361086507 466096 690644 43776349 12352990 31680380 31423359 0 248712 1851487 2805601 8727385 7421003 435709840 481046471 5850036 6468371 583094 262969 32628571 55376190 341724253 359859564 380785954 421967094 X 0 0 0 0 54923886 59079377 54923886 59079377 435709840 481046471 4156779 -1288 0 X 0 1 X 1 0 10250 10250 10250 1 CREDIT UNION POLITICAL ACTION COUNCIL (CUPAC) 3773 COMMONWEALTH BLVD TALLAHASSEE FL 32303 590246163 10000 RAMON ALEXANDER FOR FLORIDA HOUSE DISTRICT 8 2606 POTTSDAMER ST TALLAHASSEE FL 32310 250 0 1 X 6920403 6920403 28255926 5269350 22986576 691359 544607 146752 7908661 6539033 1369628 31423359 SHARE DRAFTS 85610444 SHARES 72525157 MONEY MARKET 92301712 IRA SHARES 18264294 CERTIFICATES 91157957 359859564 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 2014, 2013, AND 2012 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 0 1 0 CECILIA HOMISON CEO 291129 0 53000 0 31198 0 24921 0 26614 0 426862 0 0 0 DENNIS G ADAMS SVP/CFO 158573 0 20996 0 2072 0 12602 0 7951 0 202194 0 0 0 MARY ESTES EXECUTIVE VICE PRESIDENT 192115 0 16280 0 17472 0 82030 0 11773 0 319670 0 0 0 CARLA DEBALDO SVP OF SALES/RETAIL 153692 0 15392 0 2041 0 11870 0 7818 0 190813 0 0 0 JOHN MEDINA PRESIDENT/INVESTMENT DIVISION 122662 0 20010 0 14832 0 10812 0 679 0 168995 0 0 0 WILLIAM FOGARTY SVP/CCO 149038 0 0 0 12183 0 0 0 10962 0 172183 0 0 0 JEFF BOND FORMER VP AND CIO 86442 0 46749 0 15649 0 5929 0 3238 0 158007 0 0 0 JEFF ASKINS FINANCIAL ADVISOR 88269 0 60850 0 1643 0 10466 0 7583 0 168811 0 0 0 CARSON UTECHT VP OF PEOPLE 131541 0 15125 0 1350 0 10270 0 10009 0 168295 0 0 0 PART I, LINE 4B 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 1514464 0 1 1 1514464 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 11 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 697,687. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 697,687. MISCELLANEOUS: PROGRAM SERVICE EXPENSES 470,772. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 470,772. EDUCATION AND TRAINING: PROGRAM SERVICE EXPENSES 202,121. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 202,121. ATM EXPENSES: PROGRAM SERVICE EXPENSES 160,846. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 160,846. SUBSCRIPTIONS: PROGRAM SERVICE EXPENSES 99,088. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 99,088. GOVERNMENT AFFAIRS/EVENTS: PROGRAM SERVICE EXPENSES 26,412. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 26,412. OREO RELATED EXPENSES/LOSSES: PROGRAM SERVICE EXPENSES 21,422. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 21,422. CORPORATE CREDIT UNION STABILIZATION FUND ASSESSMENTS: PROGRAM SERVICE EXPENSES -46,000. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES -46,000. SIX PILLARS FINANCIAL ADVISORS LLC 2073 SUMMIT LAKE DRIVE SUITE 100 TALLAHASSEE FL 32317 453322731 FINANCIAL ADVISORS FL 496320 52146 FIRST COMMERCE CREDIT UNION 1