2013-11-08T07:12:34-06:00 2012-12-31 382492570 DOEREN MAYHEW 305 WEST BIG BEAVER ROAD TROY MI 48084 990 2012-01-01 590248325 STATE CHARTERED CREDIT UNIONS IN 121 FINANCIAL CREDIT UNION STAT 9047236300 9700 TOUCHTON ROAD JACKSONVILLE FL 32246 REBECCA S HULETT 9047236300 2013-10-29 1 P00740435 2482443000 2012 2016-02-25 16:41:14Z WILLIAM R BRADDOCK JR 9700 TOUCHTON ROAD JACKSONVILLE FL 32246 61463071 0 X WWW.121FCU.ORG X 1935 FL TO SHARE IN THE FINANCIAL SUCCESS OF OUR MEMBERS BY PROVIDING SERVICES WITH INTEGRITY AND FAIRNESS. 10 10 151 0 261668 -126385 0 0 22525808 19953136 1931466 1568202 240941 261668 24698215 21783006 0 0 0 0 7457092 7420224 0 0 0 13312005 12234417 20769097 19654641 3929118 2128365 420189248 428809689 377521094 384311340 42668154 44498349 TO SHARE IN THE FINANCIAL SUCCESS OF OUR MEMBERS BY PROVIDING SERVICES WITH INTEGRITY AND FAIRNESS. 0 0 PROVIDE SAVINGS PRODUCTS WHICH MEETS THE NEEDS OF OUR MEMBERS. PROVIDE LENDING PRODUCTS WHICH MEETS THE NEEDS OF OUR MEMBERS. PROVIDE OUR MEMBERS SOUND, STABLE AND EVOLVING FINANCIAL SOLUTIONS. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 12175 0 1 151 1 1 1 0 0 0 0 0 X 10 10 0 0 0 0 1 1 0 1 0 0 1 1 0 1 1 1 1 1 0 0 0 X REBECCA S HULETT SVPCFO 9047236300 9700 TOUCHTON ROAD JACKSONVILLE FL 32246 GEORGE W CAULEY 2.00 X 0 0 0 ROBERT M GIPSON 2.00 X 0 0 0 JOSEPH A HARDCASTLE 2.00 X 0 0 0 RAYMOND EDDIE CLANTON 2.00 X 0 0 0 J MICHAEL HOGAN 2.00 X 0 0 0 ABBIE G PICKETT TERM ENDED 032012 2.00 X 0 0 0 DAVID C PUGH DECEASED 61012 2.00 X 0 0 0 BILLIE C GREENLIEF 2.00 X 0 0 0 CYNTHIA A DELASSUS 2.00 X 0 0 0 WH MACOMBER JR 2.00 X 0 0 0 SHELBA WILLIAMS 2.00 X 0 0 0 LEN PICKETT 2.00 X 0 0 0 WILLIAM BRADDOCK JR 40.00 X 171218 0 25306 DAVIS JOHNSTON 40.00 X 113840 0 14369 GRETCHEN QUISENBERRY 40.00 X 93429 0 13544 REBECCA S HULETT 40.00 X 112621 0 13166 491108 0 66385 3 0 1 0 FISERV INC 75 REMITTANCE DR STE 6962 CHICAGO IL 60675 SOFTWARE SUPPORT 724562 SOFTCHOICE CORPORATION 16609 COLLECTIONS CENTER CHICAGO IL 60693 SOFTWARE LICENSES 140474 FLORIDA COMFORT INC 5913-1 ST AUGUSTINE RD JACKSONVILLE FL 32207 A/C SERVICES 123709 WILLIAMSGAUTIERGWYNNDELOACH & SORENSO PO BOX 4128 TALLAHASSEE FL 32315 LEGAL & COLLECTIONS 113356 RICOH USA INC 14738 MANAGED SERVICES PO BOX 53 ATLANTA GA 30353 PRINTERS/COPIERS 108455 7 INCOME ON MEMBER LOANS 522100 14253706 14253706 FEES & CHARGES 522100 5699430 5699430 19953136 1764057 1764057 38026074 1458136 38026074 1653991 0 -195855 -195855 -195855 INVESTMENT ADVISORY SERVICES 525990 123168 123168 INSURANCE INCOME 524298 105450 105450 ATM INCOME 525990 33050 33050 261668 21783006 19953136 261668 1568202 802648 5252566 192665 649545 522800 19043 67720 347983 610754 1029478 803037 1096332 125142 25478 1011108 155219 MEMBERS SHARE EXPENSES 2396342 OFFICE OPERATIONS 1196009 PROVISION FOR LOAN LOSS 900000 CREDIT/DEBIT CARD EXPEN 884946 1565826 19654641 2306807 1567861 64202327 70230008 439864 324748 236250507 225695956 334007 386755 24194541 8142255 14216763 16052286 94748766 107679587 7690207 6872488 420189248 428809689 3880521 3144391 373640573 381166949 377521094 384311340 X 0 0 0 0 42668154 44498349 42668154 44498349 420189248 428809689 X 2128365 -323145 24975 X X 0 1 X 1 0 8347597 8347597 8928428 2320644 6607784 406976 402896 4080 6510301 5418715 1091586 1239 1239 16052286 FHLB 87786752 F CMO'S 321726 F FNMA 8334996 F SECFCU CD'S 2097730 C FHLMC 3376690 F BANK CD'S 5761693 C 107679587 MEMBER DEPOSITS 381166949 381166949 X 21978861 195855 195855 21783006 0 21783006 19850496 195855 195855 19654641 0 19654641 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL INCOME TAXES ON INCOME RELATED TO THE EXEMPT PURPOSE OF THE CREDIT UNION. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION DESCRIBED 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 THAT ARE IN FURTHERANCE OF ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (AS DEFINED IN SECTION 512) DERIVED BY STATE-CHARTERED CREDIT UNIONS. MANY STATES HAVE SIMILAR LAWS. THE SPECIFIC APPLICATION OF SECTION 512 TO THE VARIOUS ACTIVITIES CONDUCTED BY STATE-CHARTERED CREDIT UNIONS HAS BEEN AN ISSUE FOR MANY YEARS. IN 2007, THE INTERNAL REVENUE SERVICE ("IRS") ISSUED A SERIES OF TECHNICAL ADVICE MEMORANDA ("TAM") TO A NUMBER OF STATE-CHARTERED CREDIT UNIONS LOCATED THROUGHOUT THE COUNTRY. IN THESE TAMS THE IRS RULED CERTAIN PRODUCTS AND SERVICES TO BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. IN LIGHT OF THE TAMS, THE CREDIT UNION HAS ASSESSED ITS ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY. IN THE OPINION OF MANAGEMENT, ANY LIABILITY ARISING FROM FEDERAL OR STATE TAXATION OF ACTIVITIES DEEMED TO BE UNRELATED TO ITS EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION'S INCOME TAX FILINGS ARE SUBJECT TO AUDIT BY VARIOUS TAXING AUTHORITIES AND OPEN AUDIT TAX PERIODS INCLUDE 2009 - 2012. PART XI, LINE 2D - OTHER ADJUSTMENTS: LOSS OF DISPOSAL OF OTHER REAL ESTATE OWNED 195,855. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSS OF DISPOSAL OF OTHER REAL ESTATE OWNED 195,855. X 1 1 X 0 0 0 WILLIAM BRADDOCK JR 171218 0 0 0 0 0 10401 0 14905 0 196524 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 ALL ACCOUNT HOLDERS ARE REFERRED TO AS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION HAS AN ANNUAL ELECTION IN WHICH THE MEMBERS ELECT THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 8B THE CREDIT UNION DOES NOT HAVE A COMMITTEE WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11 THE ORGANIZATION DOES NOT PROVIDE A COPY OF FORM 990 TO THE GOVERNING BODY PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ALL EMPLOYEES ARE REQUIRED TO SIGN A STATEMENT ANNUALLY STATING THAT THEY ARE NOT INVOLVED IN ANY TRANSACTIONS THAT WOULD BE A CONFLICT OF INTEREST. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION MAKES ITS FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: NET CHANGE IN POSTRETIREMENT BENEFIT 24,975. FORM 990, PART XII, LINE 2C: WE HAVE A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNT. OUR PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.