2012-04-27T15:14:45-05:00 2011-12-31 ERNST & YOUNG US LLP 201 S Biscayne Blvd Ste3000 Miami FL 331314330 990 2011-01-01 590690965 VYSTAR CREDIT UNION % VYSTAR CU-JOAN HILL-ACCOUNTI VYST 9049082519 4949 Blanding Blvd Jacksonville FL 32210 John H Turpish 2012-04-27 3053584111 2011 2016-02-24 21:20:13Z Terry R West- PresidentCEO 4949 Blanding Blvd Jacksonville FL 32210 333316055 false X www.vystarcu.org X Cooperative 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 1282 12 3538736 1514567 0 0 209406489 203533470 42624936 34137712 30488 28253 252061913 237699435 0 0 0 0 50786963 52793454 0 0 0 190126393 161016064 240913356 213809518 11148557 23889917 4068722132 4389883327 3703294732 3993239396 365427400 396643931 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 & 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 false true 296577 0 true 1282 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 X VYSTAR CU-JOAN HILL-ACCOUNTING 9049082519 4949 BLANDING BLVD JACKSONVILLE FL 32210 X George R Berry 5.0 X 1398 0 0 Michael Cascone 5.0 X 279 0 0 Paul Ted Hewitt 5.0 X 408 0 0 Larry D Myers 5.0 X 0 0 0 Esther T Schultz 5.0 X 74 0 0 Philip K Kem Siddons 5.0 X 1394 0 0 Ralph R Story 5.0 X 2366 0 0 William C Vivian 5.0 X 3002 0 0 Bobby Waldrup 5.0 X 2521 0 0 Terry R West 40.0 X 519274 0 27009 Richard G Alfirevic 40.0 X 316444 0 16275 John H Turpish 40.0 X 279194 0 17895 Kathryn A Bonaventura 40.0 X 235671 0 8729 Randy C Swift 40.0 X 210011 0 8368 Judith T Walz 40.0 X 220028 0 11198 Robert L Davis 40.0 X 215112 0 9863 Daniel J Mashevsky 40.0 X 176465 0 7427 Joseph W Nowland 40.0 X 159099 0 13945 Jeffery Greenert 40.0 X 158199 0 7065 Terry L Mayne X 116741 0 3112 2617680 0 130886 30 true true false VERNIS BOWLING OF NORTH FLORIDA 1680 NE 135TH STREET MIAMI FL 33181 Legal Services 913421 MCGUIRE WOODS LLP 901 E CARY STREET RICHMOND VA 23219 Legal Services 254204 ROGERS TOWERS PA 1301 RIVERPLACE BLVD SUITE 1500 JACKSONVILLE FL 32207 Legal Services 196758 JENNIFER PEARCE APPRAISER 4556 LEXINGTON AVENUE JACKSONVILLE FL 32210 Appraisal Services 167150 MAX F WILLERER 12091 OLDFIELD POINTE DRIVE JACKSONVILLE FL 32223 Appraisal Services 141525 5 0 Interest on Loans 525990 143599479 143599479 Fees & Commissions 525990 58419043 55595831 2823212 Title Agency & Real Estate Svcs 531390 715524 715524 Gain on Sale of Loans 525990 799424 799424 203533470 32740185 32740185 0 0 18965 0 18965 18965 18965 96182262 831885 94905820 710800 1276442 121085 1397527 1397527 0 0 0 Other Revenue 525990 9288 9288 9288 237699435 201401549 3538736 32759150 0 0 0 0 2748566 0 41505368 956957 4148765 3433798 0 257174 115244 0 0 0 3881121 3398790 34986491 2721066 0 4792320 139185 0 295950 16428647 0 8245205 8921573 INTEREST PAID TO MEMBERS 34481269 PROVISION FOR LOAN LOSSES 35025931 MISCELLANEOUS EXPENSES 7287948 LOSS ON DISPOSED ASSETS 38150 213809518 33312082 35403499 142535702 185005152 0 0 4720185 4966271 0 0 0 0 2506797738 2496540136 0 0 0 0 165921203 59768747 107507117 106152456 1189479680 1466826750 0 0 27496490 29868331 0 0 56873138 65120732 4068722132 4389883327 32314729 44971679 0 0 0 0 0 0 0 0 0 0 374606474 435737806 0 0 3296373529 3512529911 3703294732 3993239396 X 0 0 0 0 365427400 396643931 365427400 396643931 4068722132 4389883327 X 23889917 7326614 X false true true X false 48379868 48379868 64872624 20453133 44419491 5647154 4925429 721725 47021557 34390185 12631372 106152456 0 MEMBER DEPOSITS 3512015990 CONTINGENT LIABILITY 513921 3512529911 237699435 213809518 23889917 7326614 7326614 31216531 237699435 237699435 237699435 213809518 213809518 213809518 X true true X X true false false Terry R West 501880 0 5000 0 12394 0 9800 0 17209 0 546283 0 0 0 Richard G Alfirevic 284467 0 1000 0 30977 0 9800 0 6475 0 332719 0 0 0 John H Turpish 257963 0 1000 0 20231 0 9800 0 8095 0 297089 0 0 0 Kathryn A Bonaventura 224729 0 1721 0 9221 0 8249 0 480 0 244400 0 0 0 Randy C Swift 200775 0 2000 0 7236 0 8368 0 0 0 218379 0 0 0 Judith T Walz 216376 0 1000 0 2652 0 8860 0 2338 0 231226 0 0 0 Robert L Davis 210260 0 1200 0 3652 0 8603 0 1260 0 224975 0 0 0 Daniel J Mashevsky 175113 0 1000 0 352 0 3599 0 3828 0 183892 0 0 0 Joseph W Nowland 155567 0 2442 0 1090 0 6650 0 7295 0 173044 0 0 0 Jeffery Greenert 157008 0 1000 0 191 0 3237 0 3828 0 165264 0 0 0 Terry L Mayne 793 0 0 0 115948 0 0 0 3112 0 119853 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. Schedule J, Part II Terry L. Mayne received severance pay of $115,948 during 2011. 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. Description of classes of members or stockholders Form 990, Part VI, Question 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, Question 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 THEN INTERVIEWS AND SELECTS 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 (406,000 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. Description of Classes of Persons, Decisions Requiring Appr & Type of Voting Rights Form 990, Part VI, Question 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, Question 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, Question 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, Question 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, Question 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, Question 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. Other Changes in Fund Balance Form 990, Part XI, Question 5 NET UNREALIZED GAIN ON INVESTMENTS: 7,326,614 VYSTAR FINANCIAL GROUPLLC 4441 Wesconnett Blvd Jacksonville FL 32210 593683267 Ins Title &Re FL 2188822 6351754 NA