2015-05-07T08:56:15-05:00 2014-12-31 ERNST & YOUNG US LLP 111 MONUMENT CIRCLE SUITE 4000 INDIANAPOLIS IN 46204 990 2014-01-01 590690965 VyStar Credit Union % VYSTAR CU-ACCTG DEPT VYST 9049082528 4949 Blanding Blvd Suite Jacksonville FL 32210 John H Turpish CFO 2015-05-06 JENNIFER L LYNCH P01255855 2014 2016-02-25 16:41:14Z Terry R West 4949 Blanding Blvd Jacksonville FL 32210 549036554 false X www.vystarcu.org 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 1500 0 3244676 1730952 0 0 212686578 218786654 26399916 23895489 20245 31229 239106739 242713372 0 0 0 0 63565276 67369545 0 0 0 125348292 131827167 188913568 199196712 50193171 43516660 4948103862 5266240908 4496711120 4766653557 451392742 499587351 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 288271 0 true 1500 true true true false false false false false X 9 9 false false false false true true true true true false false true false true true true true false FL X VYSTAR CU-ACCTG DEPT 9049082528 4949 BLANDING BLVD JACKSONVILLE FL 32210 PE Ted Hewitt Board member 5.0 0.0 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 Board member 5.0 0.0 X 1267 0 0 Ralph R Story Board member 5.0 0.0 X 858 0 0 William C Vivian Board member 5.0 0.0 X 1484 0 0 George R Berry Board member 5.0 0.0 X 0 0 0 Michael Cascone Board member 5.0 0.0 X 0 0 0 Eric Hatfield Board member 5.0 0.0 X 0 0 0 Terry R West President/CEO 40.0 0.0 X 684453 0 28799 RICHARD G ALFIREVIC EVP/COO 40.0 0.0 X 340611 0 18419 JOHN H TURPISH EVP/CFO 40.0 0.0 X 319197 0 19904 KATHRYN A BONAVENTURA CHIEF LENDING OFFICER 40.0 0.0 X 263171 0 10868 RANDY C SWIFT SVP - MEMBER SERVICES 40.0 0.0 X 240180 0 9571 JUDITH T WALZ SVP - MARKETING & PLANNING 40.0 0.0 X 249236 0 12653 ROBERT L DAVIS SVP - HUMAN RESOURCES 40.0 0.0 X 248420 0 11691 AKIN AGAR CHIEF INFORMATION OFFICER 40.0 0.0 X 244564 0 14116 JOAN M HILL VP ACCOUNTING 40.0 0.0 X 289477 0 12455 JANE L KILBY FINANCIAL ADVISOR 40.0 0.0 X 229828 0 14337 3112746 0 152813 53 false true false ACCENTURE LLP PO BOX 70629 CHICAGO IL 60673 MTG LOAN SOFTWARE 590533 VERNIS BOWLING OF NORTH FLORIDA 1680 NE 135TH ST MIAMI FL 33181 LEGAL SERVICES 443017 PEARCE APPRAISALS INC 4556 LEXINGTON AVE JACKSONVILLE FL 32210 APPRAISAL SERVICES 397450 MCGUIRE WOODS LLP 901 E CARY STREET RICHMOND VA 23219 LEGAL SERVICES 255771 PROFESSIONAL MAINTENANCE OF FL LLC 10033 SAWGRASS DRIVE WEST PONTE VEDRA FL 32082 JANITORIAL SERVICES 232339 10 0 0 0 INTEREST ON LOANS 525990 141163171 141163171 0 0 FEES & COMMISSIONS 525990 68337761 65478200 2859561 0 TITLE AGENCY & RE & INS 531390 385115 0 385115 0 GAIN ON SALE OF LOANS 525990 1794548 1794548 0 0 CR LIFE & DISAB, GAP, VIS 525990 7106059 7106059 0 0 218786654 23195504 23195504 0 0 25100 25100 0 25100 25100 302012998 5010169 301894282 4428900 118716 581269 699985 699985 0 0 0 OTHER REVENUE 525990 6129 6129 0 0 6129 242713372 216248092 3244676 23220604 0 0 0 0 0 0 0 0 3265559 0 0 0 0 0 0 0 53228763 0 0 0 1229592 0 0 0 5257678 0 0 0 4387953 0 0 0 0 0 0 0 391533 0 0 0 134513 0 0 0 32000 0 0 0 0 0 0 0 0 0 3552816 0 0 0 4388374 0 0 0 46805786 0 0 0 3557903 0 0 0 0 0 0 0 4916565 0 0 0 244574 0 0 0 0 0 0 0 437127 0 0 0 15070000 0 0 0 0 0 0 0 9296319 0 0 0 740029 0 0 0 INTEREST PAID TO MEMBERS 23286188 PROVISION FOR LOAN LOSSES 6580836 MEMBER ACCOUNT LOSSES 1305798 MISCELLANEOUS EXPENSES 11086806 199196712 0 0 0 0 50861666 53974210 171788266 240901390 0 0 4450874 3339986 0 0 0 0 3064080394 3557088569 0 0 0 0 185717771 74015292 106089835 111702479 1456103984 1202598119 0 0 30039622 32076889 0 0 64689221 64559266 4948103862 5266240908 44198264 47687163 0 0 0 0 0 0 0 0 0 0 460494294 525709628 0 0 3992018562 4193256766 4496711120 4766653557 X 0 0 0 0 451392742 499587351 451392742 499587351 4948103862 5266240908 43516660 4677949 X false true X true false 52929200 52929200 72013573 25660030 46353543 6947252 5442262 1504990 53827746 42913000 10914746 111702479 0 Member Deposits 4192794318 Contingent Liability 462448 4193256766 242107003 242107003 606369 606369 242713372 198590343 198590343 606369 606369 199196712 PART XI, LINE 4B: OTHER AMOUNTS INCLUDED ON FORM 990, PART VIII LINE 12 BUT NOT INCLUDED IN PART XI, LINE 1: RENTAL INCOME 25,100 GAIN-FORECLOSED REAL ESTATE 581,269 TOTAL LINE 4B 606,369 PART XII, LINE 4B: OTHER AMOUNTS INCLUDED ON FORM 990, PART XI LINE 25 BUT NOT INCLUDED IN PART XII, LINE 1: RENTAL INCOME 25,100 GAIN-FORECLOSED REAL ESTATE 581,269 TOTAL LINE 4B 606,369 X true true X X false false false Terry R West President/CEO 569971 0 100000 0 14482 0 10400 0 18399 0 713252 0 0 0 RICHARD G ALFIREVIC EVP/COO 307980 0 20246 0 12385 0 10400 0 8019 0 359030 0 0 0 JOHN H TURPISH EVP/CFO 286113 0 18884 0 14200 0 10400 0 9504 0 339101 0 0 0 KATHRYN A BONAVENTURA CHIEF LENDING OFFICER 245991 0 16170 0 1010 0 10400 0 468 0 274039 0 0 0 RANDY C SWIFT SVP - MEMBER SERVICES 218216 0 14665 0 7299 0 9571 0 0 0 249751 0 0 0 JUDITH T WALZ SVP - MARKETING & PLANNING 232370 0 15413 0 1453 0 10017 0 2636 0 261889 0 0 0 ROBERT L DAVIS SVP - HUMAN RESOURCES 228200 0 15277 0 4943 0 9949 0 1742 0 260111 0 0 0 AKIN AGAR CHIEF INFORMATION OFFICER 244249 0 0 0 315 0 7721 0 6395 0 258680 0 0 0 JOAN M HILL VP ACCOUNTING 278816 0 9632 0 1029 0 10400 0 2055 0 301932 0 0 0 JANE L KILBY FINANCIAL ADVISOR 161111 0 67745 0 972 0 9391 0 4946 0 244165 0 0 0 SUPPLEMENTAL COMPENSATION INFORMATION SCHEDULE J, PART I, LINE 1A TRAVEL FOR COMPANIONS IS AVAILABLE TO OUR 9 BOARD MEMBERS 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" THEN YOU ARE ELIGIBLE TO BECOME A MEMBER OF VYSTAR CREDIT UNION. WE CURRENTLY SERVE MEMBERS IN THE FOLLOWING 17 COUNTIES: ALACHUA, BAKER, BRADFORD, CLAY, COLUMBIA, DUVAL, FLAGLER, GILCHRIST, HAMILTON, LEVY, PUTNAM, MARION, NASSAU, ST. JOHNS, SUWANNEE, UNION AND VOLUSIA COUNTIES. DESCRIPTION OF CLASSES OF PERSONS AND THE NATURE OF 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 VACANCIES. 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, THE ENTIRE MEMBERSHIP (478,000 MEMBERS) 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 OR STATE) 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 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 BY 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. EMPLOYEES IN THE ORGANIZATION'S INTERNAL AUDIT DEPARTMENT REGULARLY CONDUCT AUDITS OF OFFICIALS' AND EMPLOYEES' 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 A SENIOR MANAGEMENT SURVEY THAT IS CONDUCTED BY AN INDEPENDENT INDUSTRY COMPENSATION CONSULTANT. WE INCLUDE INFORMATION WITH REGARDS TO TIME IN JOB, BASE SALARY, VARIABLE PAY, BENEFITS AND PREREQUISITES. THE RESULTS OF THIS SURVEY ARE USED IN DETERMINING THE COMPENSATION OF THE CEO. 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 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 WOULD BE PROVIDED TO A MEMBER OR NON-MEMBER UPON REQUEST. SUPPLEMENTAL INFORMATION FORM 990, PART VIII, LINE 2D FORM 8275 IS ATTACHED TO FORM 990-T TO REPORT THE TREATMENT OF THE INCOME FROM GAP. VYSTAR FINANCIAL GROUP LLC 760 RIVERSIDE AVE Jacksonville FL 32204 593683267 INS TITLE\RE FL 2562722 8638333 VYSTAR CR UN