2013-07-25T06:20:33-00:00 2012-12-31 ORTH CHAKLER MURNANE AND CO CPAs 12060 SW 129 COURT SUITE 201 MIAMI FL 33186 990 2012-01-01 590637646 CAMPUS USA CREDIT UNION CAMP 3523359090 PO BOX 147029 GAINESVILLE FL 32614 JERRY BENTON 3523359090 2013-07-24 true DOUGLAS ORTH 3052328272 2013-07-25 2012 2016-02-24 21:20:13Z LARRY SCOTT 14007 NW 1ST ROAD JONESVILLE FL 32669 51734588 false 2106 X www.campuscu.com X CREDIT UNION 1935 FL CAMPUS USA CREDIT UNION IS A NON-PROFIT FINANCIAL INSTITUTION PROVIDER. IT HAS SIX COUNTIES FOR MEMBERSHIP WITH COMPETITIVE SAVINGS AND LOAN RATES ALONG WITH EXCEPTIONAL MEMBER SERVICE. 9 8 266 8 837811 64138 0 47303578 44780816 5118073 3414937 948745 957801 53370396 49153554 0 0 14428498 17158533 0 0 29286534 24698892 43715032 41857425 9655364 7296129 1080638613 1104461677 948327902 962993077 132310711 141468600 THE MISSION OF OUR CREDIT UNION IS TO RESPOND TO THE NEEDS OF THE MEMBERSHIP BY OFFERING THE BEST FINANCIAL SERVICES. OUR CREDIT UNION IS A NOT-FOR-PROFIT SERVICE ORGANIZATION WHICH MAINTAINS A STRONG FINANCIAL FOUNDATION. false false INCOME FROM THE CREDIT UNION MEMBERSHIP AND INVESTMENT OF MEMBERS FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP. false false true false false false false false true false false false true true true false false false false false false false false false false false false true false false false false false false false false false false false false false false false true 20920 0 true 266 true true true false false false false false X 9 8 false false false false true true false true true false false false true true true true true true true false X LARRY SCOTT 3523359090 14007 NW 1ST ROAD JONESVILLE FL 32669 RL SCOTT 040.00 040.00 X X 523172 0 740876 DR P WELCH 002.50 002.50 X 0 0 0 J BENNET 002.50 002.50 X 0 0 0 W WILLIAMS 002.50 002.50 X 0 0 0 K BURKETT 002.50 002.50 X 0 0 0 R RIVERS 002.50 002.50 X 0 0 0 P HINSON 002.50 002.50 X 0 0 0 J HUTTO 002.50 002.50 X 0 0 0 R PUCKETT 002.50 002.50 X 0 0 0 M WALDORFF 002.50 002.50 X 0 0 0 T STUDLEY 040.00 040.00 X 211831 0 64378 J BENTON 040.00 040.00 X 216575 0 60644 G WATERS 040.00 040.00 X 217460 0 60952 J THACKREY 040.00 040.00 X 181755 0 60647 R WISE 040.00 040.00 X 168615 0 51560 F HILTON 040.00 040.00 X 185757 0 33244 1705165 1072301 11 false true false PRINCIPAL MUTUAL LIFE INS CO PO BOX 9394 DES MOINES IA 50306 PENSION/401K PLANS 2020201 AAA AUTO CLUB SOUTH INC 800 SECOND AVE SOUTH SUITE 210 ST PETERSBURG FL 33701 INDIRECT LOAN PREMIUMS 677176 SCHERER CONSTRUCTION 2504 NW 71 PLACE GAINESVILLE FL 32653 CONSTRUCTION 663727 FISERV 75 REMITTANCE DRIVE SUITE 6962 CHICAGO IL 60675 CORE SOFTWARE MAINTENANCE 612790 ADVANCED SYSTEMS INC 11 SW 1 STREET WILLISTON FL 32696 BANK EQUIPMENT MAINTENANCE 529293 33 INTEREST ON LOANS 522100 35299357 35299357 FEES/CHARGES 522100 8643648 8643648 SECURITY SALES 523000 759254 759254 MBI 524298 14245 14245 NON-MEMBER ATM FEES 522200 64312 64312 44780816 3693948 3693948 2302023 2581034 -279011 -279011 -279011 OTHER INCOME 522100 957801 957801 957801 49153554 48315743 837811 0 0 0 0 1540257 1540257 0 10052872 10052872 2848271 2848271 1850748 1850748 866385 866385 0 8417 8417 671188 671188 0 0 81313 81313 1533453 1533453 2464280 2464280 0 0 2081692 2081692 0 0 0 6672390 6672390 0 2737956 2737956 282013 282013 SEE ATTACHED SCHEDULE 8166190 8166190 0 41857425 41857425 64832561 80608100 51187118 30613378 3643235 2969625 662468173 698469660 539647 953416 61217210 16434765 44769784 44782445 225331595 215870064 13853756 15540585 14012744 14654404 1080638613 1104461677 12504857 14413395 10500000 4500000 925323045 944079682 948327902 962993077 X 132310711 141468600 132310711 141468600 1080638613 1104461677 X 7296129 -504923 2366683 X false true X true false 4323 4323 4323 true FLORIDA CREDIT UNION POLITICAL ACTION 3773 COMMONWEALTH BLVD TALLAHASSEE FL 32303 590246163 4323 false 12127163 11515751 36070770 5982946 30087824 1786945 1663667 123278 11232332 8176740 3055592 44782445 Financial derivatives and other financial products Closely-held equity interests Federal income taxes SHARE DRAFTS 134597633 SHARE AND EQUIVALENTS 342529908 MONEY MARKET ACCOUNTS 144506789 IRA SHARES 32641034 SHARE AND IRA CERTIFICATES 289804318 944079682 X 49432565 49432565 -279011 -279011 49153554 42136436 279011 279011 41857425 41857425 X 2 THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE 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 THE INTERNAL REVENUE CODE IRC SECTION 50414. 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 UNRELATED BUSINESS INCOME UBI DERIVED BY STATE-CHARTERED CREDIT UNIONS. BEGINNIGN IN MARCH 2008, THE INTERNAL REVENUE SERVICE IRS RELEASED TECHNNICAL 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 RECOGNITON 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 2011, 2010, AND 2009 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. XI 4B LOSS ON SALE OF OREO INLCUDED ON FORM 990 PART VIII AS A REDUCTION TO REVENUE. LOSS ON SALE OREO IS ALLOCATED TO NON-INTEREST EXPENSE IN THE AUDITED STATEMENT OF INCOME. XI 2D LOSS ON SALE OREO IS ALLOCATED TO NON-INTEREST EXPENSE IN THE AUDITED STATEMENT OF INCOME. ON THE FORM 990, THE LOSS ON SALE OF OREO IS A REDUCTION OF INCOME IN PART VIII. X X X true true X X false true false RL SCOTT 400486 103000 19686 725000 15876 1264048 J BENTON 187517 27900 1158 48384 12260 277219 G WATERS 184882 27900 4678 47497 13455 278412 T STUDLEY 179850 27900 4081 48384 15994 276209 J THACKREY 148973 29400 3382 44898 15749 242402 R WISE 137332 27900 3383 42984 8576 220175 F HILTON 168472 16751 534 17863 15381 219001 I 4B SEVERAL EMPLOYEES PARTICIPATE IN A DEFERRED COMPENSATION PLAN 457F. THE PARTICIPANTS AND THE CORRESPONDING BALANCE AS OF DECEMBER 31, 2012 OF DEFERRED COMPENSATION IS LISTED BELOW I B L. SCOTT 700,000 I 4B J. BENTON 26,400 I 4B G. WATERS 26,400 I 4B T. STUDLEY 26,400 I 4B J. THACKREY 26,400 I 4B WISE 26,400 I 4B HAMLETT 26,400 I 4B HARPER 26,400 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 11A THE CFO IS RESPONSIBLE FOR THE PREPARATION OF THE RETURN AND USES THE CPA FIRM TO HELP COMPLETE THE FINANCIAL ASPECT OF THE RETURN. THE RETURN IS PRESENTED TO THE CREDIT VP OR HR, VP OF OPERATIONS AND TO THE PRESIDENT/CEO. ONCE ALL HAVE COMPLETED THEIR REVIEW AND ANY CORRECTIONS ARE COMPLETED, THE RETURN IS FILED. Form 990 Part VI Section B Line 12C THE CONFLICTS OF INTEREST POLICY GOVERNS THE ACTIONS OF DIRECTORS, AUDIT COMMITTEE MEMBERS, ANY OTHER UNPAID MEMBER VOLUNTEERS AND ALL SENIOR MANAGERS OF THE CREDIT UNION. THE POLICY, WHICH IS EXPLICIT IN DETAILING ACTIONS CONSIDERED TO BE CONFLICTS OF INTEREST, IS REVIEWED WITH THE COVERED INDIVIDUALS ANNUALLY. IN ADDITION, EACH COVERED INDIVIDUAL IS ANNUALLY REQUIRED TO COMPLETE AND SIGN A STATEMENT DETAILING ANY POTENTIAL CONFLICTS OF INTEREST OR ANY ACTIONS TAKEN THAT FALL UNDER THE CONFLICT OF INTEREST POLICY. THESE STATEMENTS ARE REQUIRED TO BE SUBMITTED TO THE AUDIT COMMITTEE CHAIR WHO MAKES A FORMAL REPORT TO THE BOARD OF DIRECTORS. COVERED INDIVIDUALS ARE INSTRUCTED TO DISCUSS ANY POTENTIAL CONFLICTS WITH THE PRESIDENT/CEO OR THE COMPLIANCE OFFICER BEFORE ENTERING INTO ANY ARRANGEMENT THAT COULD BE A POTENTIAL CONFLICT. THE AUDIT COMMITTEE CHAIR MUST GIVE WRITTEN APPROVAL ON A CASE-BY-CASE BASIS. ANY POTENTIAL CONFLICT INVOLVING THE AUDIT COMMITTEE CHAIR REQUIRES WRITTEN APPROVAL BY THE BOARD OF DIRECTORS CHAIR. THE CREDIT UNION HAS ALWAYS MAINTAINED THE POLICY THAT ANY INDIVIDUAL WITH A POTENTIAL CONFLICT OF INTEREST IS PROHIBITED FROM PARTICIPATING IN DELIBERATIONS AND DECISIONS PERTAINING TO THE SUBJECT MATTER IN QUESTION. Form 990 Part VI Section B Line 12C continued THE AUDIT COMMITTEE CHAIR MUST GIVE WRITTEN APPROVAL ON A CASE-BY-CASE BASIS. ANY POTENTIAL CONFLICT INVOLVING THE AUDIT COMMITTEE CHAIR REQUIRES WRITTEN APPROVAL BY THE BOARD OF DIRECTORS CHAIR. THE CREDIT UNION HAS ALWAYS MAINTAINED THE POLICY THAT ANY INDIVIDUAL WITH A POTENTIAL CONFLICT OF INTEREST IS PROHIBITED FROM PARTICIPATING IN DELIBERATIONS AND DECISIONS PERTAINING TO THE SUBJECT MATTER IN QUESTION. Form 990 Part VI Section C Line 19 GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. CONFLICT OF INTEREST POLICY IS NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNIONS FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC VIEWING ON WWW.NCUA.GOV VIA THE QUARTERLY 5300 FILING. Form 990 Part XI Line 9 NET PENSION GAINS Form 990 Part VI Section B Line 15 A B THE REVIEW OF THE CEOS COMPENSATION IS DONE ANNUALLY BY THE BOARD OF DIRECTORS BOD. THE BOD USES AN EXECUTIVE COMPENSATION SURVEY FROM AN INDEPENDENT THIRD PARTY AND EACH MEMBER DOES AN INDIVIDUAL REVIEW TO DETERMINE THE CEOS COMPENSATION. FOR ALL OTHER SENIOR MANAGEMENT, THE CEO USES AN EXECUTIVE COMPENSATION SURVEY FROM AN INDEPENDENT THIRD PARTY AS WELL AS AN INTERNAL INDEPENDENT SALARY ADMINISTRATION SYSTEM TO DETERMINE THEIR COMPENSATION.