2015-07-20T01:06:05-00:00 2014-12-31 ORTH CHAKLER MURNANE AND CO CPAs 12060 SW 129 COURT SUITE 201 MIAMI FL 33186 990 2014-01-01 590564247 PEOPLES CREDIT UNION PEOP 9547044100 9560 PINES BOULEVARD PEMBROKE PINES FL 33024 JEFFREY T MILLER CEO 2015-07-20 true AUBREY CLEGG 3052328272 2015-07-20 2014 2016-02-25 16:41:14Z JEFFREY T MILLER 9560 PINES BOULEVARD PEMBROKE PINES FL 33024 6138154 false 2106 X www.pcufla.org X CREDIT UNION 1991 FL COMMUNITY CREDIT UNION 5 5 54 7 270841 -9810 0 5136935 4601977 734191 558868 497688 5871126 5658533 0 0 2132528 1928735 0 0 3016702 6017119 5149230 7945854 721896 -2287321 77745305 76693585 70657920 71390426 7087385 5303159 COMMUNITY CREDIT UNION false false INCOME FROM THE CREDIT UNION MEMBERSHIP AND FROM THE INVESTMENT OF MEMBERS FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP. false false false false false false false false false true false false true true true true false false false false false false false false false false false false false false false false false false false false false false false false false false false true 1177 0 true 54 true true true false false false false false X 5 5 false false false false true true true true true false false false true false false false true true true false X WILLIAM WASSERSTROM 9545151517 9560 PINES BOULEVARD PEMBROKE PINES FL 33024 T RIBEL CHAIRMAN 001.00 001.00 X 0 0 0 S GOLDBERG DIRECTOR 001.00 001.00 X 0 0 0 SBARR DIRECTOR/AUDIT COMM. 001.00 001.00 X 0 0 0 DBERGER DIRECTOR/TREASURER 001.00 001.00 X 0 0 0 DHESSLER DIRECTOR/V. CHAIRMAN 001.00 001.00 X 0 0 0 BSAMUELS CHAIRMAN AUDIT COMM. 001.00 001.00 X 0 0 0 W SERDA AUDIT COMM. 001.00 001.00 X 0 0 0 JT MILLER CEO 040.00 040.00 X 136000 0 13976 W WASSERSTROM V. PRES. FINANCE 040.00 040.00 X 71400 0 10085 207400 24061 1 false false false FISERV-AFTECH 455 S GULPH ROAD SUITE 201 KING OF PRUSSIA PA 19406 DATA PROCESSING 157224 JOKEN ASSOCIATES PO BOX 552170 DAVIE FL 33355 RENT-11645 BISCAYNE 131791 FISERV-EFT 4550 SW MACADAM AVENUE PORTLAND OR 97239 DATA PROCESSING 169591 SHUTTS AND BOWEN 201 S BISCAYNE BLVD MIAMI FL 33131 ATTORNEY 185235 4 INTEREST ON LOANS 522100 949637 949637 FEES/CHARGES 522100 3381499 3381499 UNRELATED BUSINESS INCOME 900099 270841 270841 4601977 557239 557239 481250 479621 1629 1629 1629 MISCELLANEOUS INCOME 522100 497688 497688 497688 5658533 5387692 270841 0 0 0 0 231461 231461 0 1230251 1230251 155492 155492 194637 194637 116894 116894 0 197143 197143 36407 36407 0 0 314956 314956 13834 13834 261150 261150 0 0 469058 469058 5302 5302 0 0 81514 81514 0 186902 186902 91939 91939 SEE ATTACHED SCHEDULE 4358914 4358914 0 7945854 7945854 16415511 4414536 14751683 22139606 716232 2148814 18276081 25407466 125633 153957 8275787 2662548 5764455 5613239 18696689 12327152 464463 1351327 104866 1183231 4383949 77745305 76693585 1116988 1378367 69540932 70012059 70657920 71390426 X 7087385 5303159 7087385 5303159 77745305 76693585 X -2287321 565596 -62501 X false true X true false false 2043970 2043970 4047472 1033855 3013617 293456 134369 159087 1890889 1519663 396565 5613239 Financial derivatives and other financial products Closely-held equity interests ACCRUED INTEREST ON INVESTMENTS 86795 ACCRUED INTEREST ON LOANS 44878 NCUSIF DEPOSIT 722360 UTILITY DEPOSIT 1810 CU24 INVESTMENT 12363 RENT DEPOSIT 16691 COIN COLLECTION 4061 CREDIT CARD CLEARING 21523 MOVIE TICKETS 8832 COLLATERAL IN PROCESS OF LIQUIDATION REPOS 60531 EFT SETTLEMENT DEPOSIT 176000 INVESTMENT IN 457B 253342 INVESTMENT IN 457F 2974763 4383949 Federal income taxes MEMBER DEPOSITS - SHARE ACCOUNTS-SAVINGS AND CLUB 35665300 MEMBER DEPOSITS - SHARE DRAFT ACCOUNTS 14754304 MEMBER DEPOSITS - CERTIFICATES 11069677 MEMBER DEPOSITS - IRAs 941208 MEMBER DEPOSITS - MONEY MARKET ACCOUNTS 7581570 70012059 X 5658533 5658533 5658533 7945854 7945854 7945854 X 2 THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE TAX LAWS. 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 501C14. 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. UBI MAY ALSO BE SUBJECT TO TAX IN CERTAIN STATES. MANAGEMENT HAS ASSESSED THE CREDIT UNIONS 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 FINANCIAL STATEMENTS. ADDITIONALLY, NO INTEREST AND PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. CURRENTLY, THE 2013, 2012, AND 2011 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 THAN OR LESS THAN THE YEARS OPEN FOR EXAMINATION BY THE IRS. 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. Form 990, Part VI, Section A, Line 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODYS ELECTION 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 11 FORM 990 IS REVIEWED BY THE BOARD OF DIRECTORS AND CEO AS PART OF THE BOARD PACKET AT A FUTURE MEETING AND WILL BE RECORDED IN THE MINUTES OF THAT MEETING. Form 990, Part VI, Section B, Line 15AB THE REVIEW OF THE CEOS COMPENSATION IS A FUNCTION OF THE BOARD OF DIRECTORS. ANNUALLY, THE BOARD USES COMPEASE FROM AN INDEPENDENT THIRD PARTY TO DETERMINE THE CEOS COMPENSATION. THE CEO USES COMPEASE TO REVIEW SALARIES AND PAY RANGES ON AN ANNUAL BASIS FOR ALL OTHER EMPLOYEES. Form 990, Part VI, Section C, Line 19 THE CREDIT UNIONS GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNIONS CONFLICT OF INTEREST POLICY IS NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNIONS FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC VIEWING ON NCUA.GOV VIA THE QUARTERLY 5300 FILING. Form 990, Part XI, Line 9 RECLASSIFICATION ADJUSTMENT FOR GAINS RELATED TO THE RECLASSIFICATION OF THE 457 PLAN INVESTMENTS 60,872 RECLASSIFICATION ADJUSTMENTS FOR INVESTMENT GAINS INCLUDED IN NET LOSS 1,629.