2024-11-08T14:56:50-06:00 2023-12-31 454084437 WARREN AVERETT LLC 350 W CEDAR STREET SUITE 400 PENSACOLA FL 32502 990 2023-01-01 590777511 MEMBERS FIRST CREDIT UNION OF FLORIDA MEMB 8504342211 PO BOX 12983 PENSACOLA FL 32591 MICHELE WILLIAMS PRESIDENT/CEO 8504342211 2024-11-07 1 1 CLAIRE C DUREN CPA P01577924 8504357400 2024-11-07 2023 2024-10-15 13:58:12Z MICHELE WILLIAMS PO BOX 12983 PENSACOLA FL 32591 16175452 0 X WWW.MEMBERSFIRSTFL.ORG X CREDIT UNION 1954 FL TO PROVIDE FINANCIAL SERVICES TO OUR MEMBERS. 7 7 104 9 22767 0 0 0 10495266 11415086 2277129 4734277 40469 22767 12812864 16172130 0 0 0 0 5124430 5540992 0 0 0 5697720 6497180 10822150 12038172 1990714 4133958 296738500 286801436 267158403 252622544 29580097 34178892 X THE CREDIT UNION'S MISSION IS TO PROMOTE THRIFT AMONG ITS MEMBERS AND CREATE A SOURCE OF CREDIT FOR THEM AT LEGITIMATE RATES OF INTEREST. THE CREDIT UNION SERVES MEMBERS IN ESCAMBIA, SANTA ROSA, AND OKALOOSA COUNTIES IN FLORIDA. THE TOTAL NUMBER OF MEMBERS IS IN EXCESS OF 20,000. 0 0 IN OUR EFFORTS TO PROMOTE THRIFT AMONG OUR MEMBERS, THE CREDIT UNION PROVIDES COMPETITIVE SAVINGS PRODUCTS, WHICH INCLUDE SAVINGS, CHECKING, CERTIFICATE OF DEPOSIT ACCOUNTS AS WELL AS IRA SAVINGS AND CERTIFICATE OF DEPOSIT ACCOUNTS. TO MEET THE FINANCIAL NEEDS OF OUR MEMBERS, THE CREDIT UNION PROVIDES A SOURCE OF CREDIT BY OFFERING A VARIETY OF CONSUMER AND MORTGAGE LENDING PRODUCTS AT REASONABLE RATES OF INTEREST. 0 0 1 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 1 0 0 0 0 0 0 0 0 0 0 0 0 1 6024 0 1 104 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 0 1 1 0 1 1 0 1 1 1 0 1 1 1 0 X MICHELE WILLIAMS 8504342211 PO BOX 12983 PENSACOLA FL 32591 CHARLOTTE SCHIPMAN SECRETARY 1.00 0.00 X X 0 0 0 BILL FARINAS DIRECTOR 1.00 0.00 X 0 0 0 THERESA MCCANTS CHAIRPERSON 1.00 0.00 X X 0 0 0 LINDA HARRIS VICE CHAIRPERSON 1.00 0.00 X X 0 0 0 CLARENCE LADNER DIRECTOR 1.00 0.00 X 0 0 0 KATHY TERRELL DIRECTOR 1.00 0.00 X 0 0 0 JACK MARMASH TREASURER 1.00 0.00 X X 0 0 0 CARYL A GREENE PRESIDENT/CEO 40.00 0.00 X 371482 0 73124 MICHELE WILLIAMS PRESIDENT 40.00 0.00 X 217035 0 28698 TOM PAINTER CHIEF FINANCIAL OFFICER 40.00 0.00 X 123867 0 30733 DEBRA COSSON CHIEF FINANCIAL OFFICER 40.00 0.00 X 137863 0 13845 JEFF CRUTCHFIELD CHIEF INFORMATION OFFICER 40.00 0.00 X 110945 0 24555 ADETOUN SANDERS VP MARKETING & BUSINESS DEVELOPMENT 40.00 0.00 X 87039 0 9549 TAMMY MILLER CHIEF OPERATING OFFICER 40.00 0.00 X 106939 0 12112 CHRISTINA REYNOLDS VP HUMAN RESOURCES 40.00 0.00 X 78162 0 4424 JOANNE HYATT CHIEF LENDING OFFICER 40.00 0.00 X 41188 0 2097 CARRIE GAVIN COMPTROLLER 40.00 0.00 X 95774 0 10700 1370294 0 209837 6 0 1 0 ENGAGE FI LLC 5550 W EXECUTIVE DRIVE STE 540 TAMPA FL 33609 CONSULTING SERVICES 231682 ACTION MAILING 2809 COPTER ROAD PENSACOLA FL 32514 PRINT & MAIL SERVICES 117057 EDDY TUB DBA JANICARE JANITORIAL 2027 HESPERIA WAY PENSACOLA FL 32505 CLEANING SERVICES 111084 3 INTEREST ON LOANS 522100 7415061 7415061 SERVICE FEES AND MISCELLANEOUS IN 522100 4000025 4000025 11415086 4729039 4729039 8560 3322 5238 5238 5238 NON-MEMBER FOREIGN ATM INCOME 522100 22767 22767 22767 16172130 11415086 22767 4734277 1580131 3340946 133350 144088 342477 115344 106457 222607 1269655 353163 22144 48143 1116254 368705 136917 CREDIT & DEBIT CARD EXP 672755 PROVISION FOR LOAN LOSS 584002 ATM EXPENSES 466421 HOME BANKING EXPENSE 318086 696527 12038172 3651744 3830453 107931864 91601882 57341 55666 4302767 4392830 137311428 141119959 469134 610853 15331463 7002329 8391891 8329134 28581450 30378274 6040881 6482385 296738500 286801436 1097227 3294921 266061176 249327623 267158403 252622544 X 0 0 0 0 29580097 34178892 29580097 34178892 296738500 286801436 X 4133958 746876 -282039 X X 0 1 X 1 0 1738 1738 1738 1 FLORIDA CREDIT UNION POLITICAL ACTION COMMITTEE 3692 COOLIDGE COURT TALLAHASSEE FL 32311 591889104 1738 PART I-A, LINE 1: DONATION TO FLORIDA CREDIT UNION POLITICAL ACTION COMMITTEE (FL CUPAC). 2440273 2440273 8597469 3414501 5182968 4293721 3587828 705893 8329134 AFS SECURITIES 29135141 F CORPORATE MEMBERSHIP CAPITAL 1165545 C TRELLANCE INVESTMENT 77588 C 30378274 MEMBERS' SHARE AND SAVINGS ACCOUNTS 249327623 249327623 X 16172130 0 16172130 0 16172130 12038172 0 12038172 0 12038172 PART X, LINE 2: AS OF DECEMBER 31, 2023, THE CREDIT UNION HAD NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. ADDITIONALLY, THE CREDIT UNION HAD NO INTEREST AND PENALTIES RELATED TO INCOME TAXES. WITH FEW EXCEPTIONS, THE CREDIT UNION IS NO LONGER SUBJECT TO U.S. FEDERAL, STATE, AND LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2020. X 1 1 X X 0 1 0 CARYL A GREENE PRESIDENT/CEO 298089 0 244 0 73149 0 62169 0 10955 0 444606 0 0 0 MICHELE WILLIAMS PRESIDENT 210350 0 244 0 6441 0 9299 0 19399 0 245733 0 0 0 TOM PAINTER CHIEF FINANCIAL OFFICER 122100 0 244 0 1523 0 5756 0 24977 0 154600 0 0 0 DEBRA COSSON CHIEF FINANCIAL OFFICER 127264 0 8843 0 1756 0 5647 0 8198 0 151708 0 0 0 PART I, LINE 4B "CARYL A. GREENE, PRESIDENT/CEO, HAS A 457(F) DEFERRED COMPENSATION ARRANGEMENT WITH THE CREDIT UNION THAT PROVIDED A BENEFIT TO THE PRESIDENT/CEO IN 2023 OF $50,000, WHICH WAS INCLUDED IN HER W-2 WAGES. THE PLAN WILL PROVIDE ANOTHER BENEFIT IN 2024. THE BENEFIT IS ACCRUED MONTHLY. THE CREDIT UNION ENTERED INTO COLLATERAL ASSIGNMENT SPLIT-DOLLAR LIFE INSURANCE ARRANGEMENTS WITH CARYL A. GREENE, PRESIDENT/CEO (2015) AND MICHELE WILLIAMS, EVP/COO (2016). THE PREMIUMS ON THE POLICIES WERE FUNDED BY THE CREDIT UNION THROUGH LOANS TO THE PRESIDENT/CEO AND EVP/COO. INTEREST WILL ACCRUE TO THE LOANS ANNUALLY." CARYL A GREENE PRESIDENT/CEO TO PAY THE PREMIUMS OF COLLATERAL ASSIGNMENT SPLIT-DOLLAR LIFE INSURANCE X 2587842 2587842 0 1 1 MICHELE WILLIAMS EVP/CHIEF ENGAGEMENT OFFICER TO PAY THE PREMIUMS OF COLLATERAL ASSIGNMENT SPLIT-DOLLAR LIFE INSURANCE X 1804988 1804988 0 1 1 4392830 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS OWNED BY ITS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A BOARD MEMBERS ARE NOMINATED BY THE NOMINATING COMMITTEE MADE UP OF BOARD MEMBERS. CREDIT UNION MEMBERS, THROUGH AN ELECTION PROCESS, VOTE ON THE NOMINEES. IF THE NUMBER OF NOMINEES IS EQUAL TO THE NUMBER OF VACANCIES, NO ELECTION IS NEEDED. ALL BOARD MEMBERS SERVE 3-YEAR TERMS. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED BY THE CFO PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD MEMBERS, AUDIT COMMITTEE MEMBERS, AND EMPLOYEES MUST REVIEW AND SIGN THE CONFLICT OF INTEREST POLICY ANNUALLY. VENDOR RELATIONSHIPS ARE REVIEWED FOR POTENTIAL CONFLICTS PRIOR TO CONTRACTING FOR SERVICES. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT/CEO HAS AN ANNUAL PERFORMANCE REVIEW BY THE BOARD. THE BOARD APPROVES THE PRESIDENT/CEO'S CONTRACT AND COMPENSATION AT THIS TIME. THE PRESIDENT/CEO PERFORMS THE ANNUAL PERFORMANCE REVIEWS FOR VICE-PRESIDENTS WITH THE EXCEPTION OF THE VP OF HUMAN RESOURCES. THIS POSITION'S ANNUAL REVIEW IS PERFORMED BY THE COO. A SALARY SURVEY IS USED TO SET THE COMPENSATION GUIDELINES FOR VP'S. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: FASB ASC 715 PENSION LIABILITY UNREALIZED LOSS 394,116. CUMULATIVE EFFECT OF CHANGE IN ACCOUNTING PRINCIPLE CECL ADOPTION -676,155. FORM 990, PART XII, LINE 2C: NO CHANGE FROM PRIOR YEAR.