2012-08-14T12:37:42-00:00 2011-12-31 ORTH CHAKLER MURNANE AND CO CPAs 12060 SW 129 COURT SUITE 201 MIAMI FL 33186 990 2011-01-01 590687423 FLORIDA COMMERCE CREDIT UNION FLOR 8005335772 2073 SUMMIT LAKE DRIVE Room No 100 TALLAHASSEE FL 32317 DENNIS G ADAMS 2012-08-13 true DOUGLAS ORTH 3052328272 2012-07-31 2011 2016-02-24 21:20:13Z CECILIA HOMISON 2073 SUMMIT LAKE DRIVE SUITE 100 TALLAHASSEE FL 32317 30324578 false 2106 X WWW.FLORIDACOMMERCE.ORG X CREDIT UNION 1940 FL TO PROVIDE SERVICES AND EDUCATION TO MEMBERS IN THE FRAMEWORK OF A FINANCIAL COOPERATIVE. 7 7 143 10 40042 -30930 0 25814124 23632741 268736 449338 2743094 3066005 28825954 27148084 0 0 7507585 7526494 0 0 20071320 17240180 27578905 24766674 1247049 2381410 332506216 349618896 290217736 305005445 42288480 44613451 TO BE OUR MEMBERS FINANCIAL PARTNER FOR LIFE. false false TALLAHASSEES 1 AUTO LENDING PROGRAM OVER THE PAST DECADE- FLORIDA COMMERCE HAS EARNED THE TITLE OF TALLAHASSEES 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. FLORIDA COMMERCES FLEXIBLE TERMS AND COMPETITIVE RATES ALLOW MEMBERS TO PURCHASE THE VEHICLE THEY NEED AT A MONTHLY PAYMENT THEY CAN AFFORD. OVER 9,000 MEMBERS CURRENTLY ENJOY THE MOST CONSUMER-FRIENDLY AUTO LOAN PROGRAM IN THE AREA. false false true false false false false false true false false false true true false true 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 7526 0 true 143 true true true false false false false false X 7 7 false false false false true true false true true false false false true true true true false true true false X WILMA WOOTEN 8504103563 PO BOX 6416 TALLAHASSEE FL 32314 JR PHELPS 001.00 X 0 0 0 RIVERS BUFORD III 001.00 X 0 0 0 MIKE GOMEZ 001.00 X 0 0 0 JERRY OSTERYOUNG 001.00 X 0 0 0 CANITA PETERSON 001.00 X 0 0 0 KATHY ARRANT 001.00 X 0 0 0 JOHN GRAYSON 001.00 X 0 0 0 CECILIA HOMISON 040.00 X 285375 0 35284 MARY ESTES 040.00 X 219040 0 22960 VALERIE SILVERMAN 040.00 X 146202 0 4948 JEFF BOND 040.00 X 157162 0 16604 CARLA DE BALDO 040.00 X 128229 0 15328 DONNA MORAN 040.00 X 130603 0 20223 DENNIS G ADAMS 040.00 X 5947 0 0 1072558 115347 6 true true false CORNERVIEW BUILDING LLC 1625 SUMMIT LAKE DRIVE STE 229 TALLAHASSEE FL 32317 MONTHLY LEASE 1132488 CAPITAL HEALTH PLAN PO BOX 15349 TALLAHASSEE FL 32317 MEDICAL AND HEALTH INSURANCE PREMIUMS 567260 JACK HENRY & ASSOCIATES PO BOX 503328 ST LOUIS MO 63150 DATA PROCESSING SERVICES 376216 THIRD DEGREE ADVERTISING 501 N WALKER STE 100 OKLAHOMA CITY OK 73104 ADVERTISING 263609 FISERV PO BOX 409287 ATLANTA GA 30384 DATA PROCESSING/ATM HOME BANKING 565696 15 LOANS TO MEMBERS 522100 17489931 17489931 FEES AND SERVICES 522100 6102768 6102768 UNRELATED BUSINESS INCOME 900099 40042 40042 23632741 366468 366468 2359412 899952 2261167 915327 98245 -15375 82870 82870 MISCELLANEOUS INCOME 522100 3066005 3066005 3066005 27148084 27108042 40042 0 0 0 0 742372 742372 0 5051179 5051179 126252 126252 1161968 1161968 444723 444723 0 92592 92592 139057 139057 0 0 1034245 1034245 795830 795830 616630 616630 126848 126848 0 1651783 1651783 144595 144595 0 37803 37803 3074838 3074838 0 1290514 1290514 169428 169428 SEET ATTACHED SCHEDULE 8066017 8066017 0 24766674 24766674 3385691 3680009 40098654 45551203 2695097 1413116 240643916 254639131 484106 846648 25404666 8686805 17310807 16717861 9096035 8018652 4771827 4821784 14020083 13930492 332506216 349618896 4818036 5462157 30000000 24000000 255399700 275543288 290217736 305005445 X 42288480 44613451 42288480 44613451 332506216 349618896 X 2381410 -56439 X false true true X false 12000 12000 12000 true FLORIDA CREDIT UNION POLITICAL ACTION 3773 COMMONWEALTH BLVD TALLAHASSEE FL 32303 590246163 12000 false 3851526 3851526 11213589 2602759 8610830 1603634 301820 1301814 8735917 5782226 2953691 16717861 SHARE DRAFTS 53058919 SHARES 43808044 MONEY MARKET 71477432 IRA SHARES 19195963 CERTIFICATES 88002930 275543288 27148084 24766674 2381410 42863 -99302 -56439 2324971 X 2 FASB ASC 740-10-25 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. AS A RESULT OF ADOPTING ASC 740-10-25, THE CREDIT UNION HAS ASSESSED ITS ACTIVITIES AND X 2 continued... 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 2010, 2009, AND 2008 FEDERAL INCOME TAX RETURNS ARE OPEN FOR EXAMINATION BY THE IRS. X 2 continued... 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 8 98,245 RECLASSIFICATION ADJUSTMENTS FOR GAINS INCLUDED IN NET INCOME ON SOLD INVESTMENTS 1,057 RECLASSIFICATION ADJUSTMENT FOR GAINS INCLUDED IN NET INCOME ON CALLED INVESTMENTS . X true true X X X true false false CECILIA HOMISON 241021 44354 16687 18597 320659 MARY ESTES 184718 34322 11599 11361 242000 VALERIE SILVERMAN 89581 56621 4948 151150 JEFF BOND 155153 2009 10196 6408 173766 DONNA MORAN 128524 2079 9129 11094 150826 I 4A VALERIE SILVERMAN, OUR FORMER CFO, WAS PAID OUT A SEVERANCE PACKAGE IN THE AMOUNT OF 55,000.00, WHICH IS INCLUDED IN HER TOTAL COMPENSATION. Form 990 Part VI 6 THE CREDIT UNIONS MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNIONS MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATIONS PROFITS IN THE FORM OF CASH DIVIDENDS. Form 990 Part VI 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODYS ELECTION AND REMOVAL 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 11B THE ACCOUNTING DEPARTMENT DOES VERIFY AND TIE OUT THE FIGURES TO THE FINANCIAL STATEMENTS. Form 990 Part VI 12C THE EXTERNAL AUDITORS PERFORMS 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 15AB A MINIMUM OF ONCE A YEAR, COMPARABLE COMPENSATION DATA IS RESEARCHED USING SALARY.COM. SEVERAL DIMENSIONS ARE EVALUATED AND A SALARY RANGE IS RECOMMENDED. THIS RANGE IS APPROVED BY THE CEO AND THEN ULTIMATELY BY THE BOARD OF DIRECTORS. Form 990 Part VI 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 XI 5 UNREALIZED GAINS ON AVAILABLE-FOR-SALE INVESTMENTS OF 42,863 LESS RECLASSIFICATION ADJUSTMENTS FOR GAINS INCLUDED IN NET INCOME OF 99,302. Form 990 Part VI Section A Line 6 THE CREDIT UNIONS MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNIONS MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATIONS 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 BODYS ELECTION AND REMOVAL 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 11B 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 PERFORMS 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 15AB A MINIMUM OF ONCE A YEAR, COMPARABLE COMPENSATION DATA IS RESEARCHED USING SALARY.COM. SEVERAL DIMENSIONS ARE EVALUATED AND A SALARY RANGE IS RECOMMENDED. THIS RANGE IS APPROVED BY THE CEO AND THEN ULTIMATELY 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 XI Line 5 UNREALIZED GAINS ON AVAILABLE-FOR-SALE INVESTMENTS OF 42,863 LESS RECLASSIFICATION ADJUSTMENTS FOR GAINS INCLUDED IN NET INCOME OF 99,302.