2025-10-30T16:31:33-05:00 2024-12-31 454084437 WARREN AVERETT LLC 350 W CEDAR STREET SUITE 400 PENSACOLA FL 32502 990 2024-01-01 590709646 WE FLORIDA FINANCIAL WEFL 9545222705 9560 PINES BLVD PEMBROKE PINES FL 33024 WILLIAM SPEARMAN PRESIDENT/CEO 9545222705 2025-10-30 1 1 CLAIRE C DUREN CPA P01577924 8504357400 2025-10-30 2024 2025-03-06 01:10:19Z WILLIAM SPEARMAN 9560 PINES BLVD PEMBROKE PINES FL 33024 51756387 0 X WWW.WEFLORIDAFINANCIAL.COM X STATE-CHARTERED CREDIT UNION 1952 FL THE CREDIT UNION IS A COOPERATIVE, NON-PROFIT ASSOCIATION, ORGANIZED UNDER THE LAWS OF THE STATE OF FLORIDA, FOR THE PURPOSE OF ENCOURAGING THRIFT AMONG ITS MEMBERS, CREATING SOURCES OF CREDIT AND CREDIT RELATED PRODUCTS AT FAIR AND REASONABLE RATES AND PROVIDING OTHER OPPORTUNITIES FOR MEMBERS TO USE AND CONTROL THEIR RESOURCES ON A DEMOCRATIC BASIS. 7 7 149 7 22743 0 0 0 26487613 33132567 4096634 7664453 13740969 9023868 44325216 49820888 28386 10509 0 0 12175741 13078561 0 0 0 32106766 39660465 44310893 52749535 14323 -2928647 814232438 744150701 763949830 698732655 50282608 45418046 THE CREDIT UNION'S MISSION IS TO PROMOTE THRIFT AMONG ITS MEMBERS AND CREATE A SOURCE OF CREDIT FOR THEM AT REASONABLE RATES OF INTEREST. THE CREDIT UNION SERVES MEMBERS IN 46 COUNTIES IN FLORIDA. THE TOTAL NUMBER OF MEMBERS IS IIN EXCESS OF 44,200. 0 0 THE CREDIT UNION PROVIDES ITS MEMBERS WITH A SELECTION OF INSURED DEPOSIT PRODUCTS THAT ENCOURAGE THRIFT. THE PRODUCTS ARE DESIGNED FOR BOTH SMALL AND MEDIUM SAVERS. THE CREDIT UNION PROVIDES LOW COST LOANS THAT HELP MEMBERS IMPROVE THEIR LIVES. THE PRODUCTS INCLUDE SMALL UNSECURED LOANS UP TO MORTGAGE LOANS. THE CREDIT UNION PROVIDES MEMBERS ACCESS TO BOTH MANUAL CHECK AND CASH TRANSACTION SERVICES ALONG WITH ELECTRONIC TYPE SERVICES, SUCH AS FUNDS TRANSFERS, ACH, DEBIT, ATM, ETC. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 1 13105 0 1 149 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X JACK KENNEY CFO 9547452332 9560 PINES BLVD PEMBROKE PINES FL 33024 MARY ANN LAROCK CHAIRPERSON 1.00 0.00 X X 0 0 0 INGRID FILS VICE-CHAIRPERSON 1.00 0.00 X X 0 0 0 HENRY PRIOR TREASURER/SECRETARY 1.00 0.00 X 0 0 0 MACK MACVICAR DIRECTOR 1.00 0.00 X 0 0 0 JUDY JAMES DIRECTOR 1.00 0.00 X 0 0 0 BEATRIZ DALE DIRECTOR 1.00 0.00 X 0 0 0 ED VERRET DIRECTOR 1.00 0.00 X 0 0 0 RACHEL SCHAMING CHIEF OF HUMAN RESOURCES 40.00 0.00 X 236500 0 18683 WILLIAM SPEARMAN PRESIDENT & CEO 40.00 0.00 X 338569 0 39830 DAN CLEMENS CHIEF OPERATIONS OFFICER 40.00 0.00 X 274662 0 8866 JACK KENNEY CHIEF FINANCIAL OFFICER 40.00 0.00 X 238050 0 22055 JEROME RYAN VP OF IT & SECURITY 40.00 0.00 X 215002 0 18306 AARON GUTFREUND VP MARKETING 40.00 0.00 X 223750 0 36469 DANIEL BASS VP LENDING 40.00 0.00 X 193370 0 24374 JARED WRIGHT AVP MEMBER SOLUTIONS 40.00 0.00 X 184105 0 17206 THOMAS SMITH VP ACCOUNTING & CONTROLLER 40.00 0.00 X 183750 0 19047 ROBERT RAMIREZ FORMER CEO & PRESIDENT 40.00 0.00 X 785539 0 27013 2873297 0 231849 16 1 1 0 SHUTTS & BOWEN LLP 200 SOUTH BISCAYNE BLVD STE 4100 MIAMI FL 33131 LEGAL SERVICES 172132 1 LOAN INTEREST INCOME 522100 33132567 33132567 33132567 3915896 3915896 5684056 1935499 3748557 3748557 3748557 OTHER INCOME 522100 9001125 9001125 NON-MEMBER ATM SURCHARGES 522100 22743 22743 9023868 49820888 42133692 22743 7664453 10509 1989768 8686745 494277 1166165 741606 416522 236196 669257 411 2078562 2072477 1180162 16447 140362 16963272 891332 204436 PROVISION FOR LOAN LOSS 7659112 LOAN SERVICING 1648019 DEBIT CARD EXPENSE 1325032 DUES AND SUBSCRIPTIONS 866210 3292656 52749535 53123185 35216374 237513 30799874 -570830 2033902 4101995 4479863 653349323 559305645 712391 1163321 21590873 9076083 14030888 12514790 63631099 72222336 3842930 2927439 21773944 23487157 814232438 744150701 6528291 7491561 757421539 691241094 763949830 698732655 X 0 0 0 0 50282608 45418046 50282608 45418046 814232438 744150701 -2928647 499187 -2435102 0 X X 0 1 X 1 0 2430 2430 2430 1 FLORIDA CREDIT UNION POLITICAL ACTION COMMITTEE (CUPAC) 3773 COMMONWEALTH BLVD TALLAHASSEE FL 32303 591889104 2430 PART I-A, LINE 1: THE CREDIT UNION DONATED FUNDS TO THE FLORIDA CREDIT UNION POLITICAL ACTION COMMITTEE - LEAGUE OF SOUTHEASTERN CREDIT UNIONS. 3965866 3965866 9719083 5018926 4700157 2259776 2259776 0 5646148 1797381 3848767 12514790 MEMBER DEPOSIT ACCOUNTS 675108094 BORROWED FUNDS 16133000 691241094 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE AND LOCAL INCOME TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE (IRC) AND STATE TAX LAWS. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME DERIVED BY STATE-CHARTERED CREDIT UNIONS. GENERALLY, THESE TAXES ARE INSIGNIFICANT TO THE CREDIT UNION. 1 WE GIVE BACK FOUNDATION INC 9560 PINES BLVD PEMBROKE PINES FL 33024 871934137 501(C)(3) 0 10509 CONTRIBUTION TO SUPPORT COMMUNITY ORGANIZATIONS 1 PART I, LINE 2: GRANTS ARE CONTRIBUTED TO A GENERAL FUNDS ACCOUNT FOR USE AT THE DONEE ORGANIZATION'S DISCRETION. ADDITIONAL PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS ARE AVAILABLE UPON REQUEST. X X 1 1 X X X X 0 1 0 ROBERT RAMIREZ FORMER CEO & PRESIDENT 250000 0 0 0 535539 0 10000 0 17013 0 812552 0 0 0 WILLIAM SPEARMAN PRESIDENT & CEO 332523 0 0 0 6046 0 7154 0 32676 0 378399 0 0 0 DAN CLEMENS CHIEF OPERATIONS OFFICER 274662 0 0 0 0 0 6905 0 1961 0 283528 0 0 0 AARON GUTFREUND VP MARKETING 223750 0 0 0 0 0 7219 0 29250 0 260219 0 0 0 JACK KENNEY CHIEF FINANCIAL OFFICER 232477 0 0 0 5573 0 9522 0 12533 0 260105 0 0 0 RACHEL SCHAMING CHIEF OF HUMAN RESOURCES 236500 0 0 0 0 0 9460 0 9223 0 255183 0 0 0 JEROME RYAN VP OF IT & SECURITY 215002 0 0 0 0 0 6285 0 12021 0 233308 0 0 0 DANIEL BASS VP LENDING 192920 0 450 0 0 0 7250 0 17124 0 217744 0 0 0 THOMAS SMITH VP ACCOUNTING & CONTROLLER 183750 0 0 0 0 0 6219 0 12828 0 202797 0 0 0 JARED WRIGHT AVP MEMBER SOLUTIONS 184105 0 0 0 0 0 0 0 17206 0 201311 0 0 0 PART I, LINE 4B THE CREDIT UNION HAS 457(F) NON-QUALIFIED DEFERRED COMPENSATION ARRANGEMENTS FOR LLOYD GILL. THE PLAN IS DESIGNED TO PROVIDE POST-RETIREMENT BENEFITS TO THE COVERED EMPLOYEE. THE CREDIT UNION ENTERED INTO A COLLATERAL ASSIGNMENT SPLIT-DOLLAR LIFE INSURANCE ARRANGEMENT WITH LLOYD GILL, FORMER PRESIDENT/CEO IN 2017. THE PREMIUMS ON THE POLICIES WERE FUNDED BY THE CREDIT UNION THROUGH A LOAN TO THE FORMER PRESIDENT/CEO FOR $5,800,000. INTEREST WILL ACCRUE TO THE LOAN ANNUALLY. THE CREDIT UNION ALSO HAS A 457(F) FOR CURRENT PRESIDENT/CEO ROBERT RAMIREZ. THIS PLAN WAS LIQUIDATED IN CONNECTION WITH THE CEO DEPARTURE DURING 2024. LLOYD GILL FORMER PRESIDENT/CEO TO PAY THE PREMIUMS OF COLLATERAL ASSIGNMENT SPLIT-DOLLAR LIFE INSURANCE X 5800000 4479863 0 1 1 4479863 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS OWNED BY ITS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS ELECT THE BOARD OF DIRECTORS. THE BOARD MEMBERS SERVE THREE-YEAR TERMS. THERE IS NO LIMIT ON THE NUMBER OF TERMS BOARD MEMBERS CAN BE ELECTED. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS MUST VOTE ON THE DISSOLUTION OF THE CREDIT UNION OR THE MERGER WITH ANOTHER CREDIT UNION. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY EXTERNAL CPA'S AND REVIEWED BY THE SVP/CFO PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CREDIT UNION HAS A CONFLICT OF INTEREST POLICY APPROVED BY THE BOARD AND ADMINISTERED BY THE PRESIDENT/CEO. EMPLOYEES, DIRECTORS, AND OFFICERS WHO RECEIVE ANYTHING OF VALUE MUST REPORT IT TO THE PRESIDENT/CEO, WHO THEN ENSURES THE POLICY AND BANKING RULES ARE FOLLOWED. THE PRESIDENT/CEO MAINTAINS RECORDS OF ALL ACTIONS. THE SUPERVISORY COMMITTEE REVIEWS MANAGEMENT ACTIONS RELATED TO ALL POLICY AND LEGAL COMPLIANCE ISSUES. FORM 990, PART VI, SECTION B, LINE 15 THE CREDIT UNION ENGAGES AN INDEPENDENT THIRD PARTY THAT SPECIALIZES IN CREDIT UNION COMPENSATION EVERY 2 TO 3 YEARS. THEY DO A COMPENSATION STUDY OF ALL LEVELS AND MAKE A RECOMMENDATION FOR RANGE ADJUSTMENTS IF NECESSARY. THE BOARD OF DIRECTORS REVIEWS AND APPROVES ALL RANGE ADJUSTMENTS. ALL POSITIONS EXCEPT THE PRESIDENT/CEO RECEIVE AN ANNUAL REVIEW AND PERFORMANCE-BASED INCREASE. THE PERCENTAGE INCREASE RANGE IS THE SAME FOR STAFF AND OFFICERS. THE PRESIDENT/CEO'S COMPENSATION IS REVIEWED ANNUALLY BY THE BOARD AND ADJUSTED AS APPROVED BY THE BOARD WITHIN THE APPROVED RANGE. FORM 990, PART VI, SECTION C, LINE 19 STATEMENTS OF FINANCIAL CONDITION ARE AVAILABLE VIA INTERNET. AUDITED FINANCIAL STATEMENTS ARE AVAILABLE AT THE ANNUAL MEMBERSHIP MEETING AND UPON REQUEST. ALL OF THE CREDIT UNION'S POLICIES ARE AVAILABLE UPON REQUEST ALONG WITH ITS BYLAWS. FORM 990, PART XII, FINANCIAL STATEMENTS AND REPORTING, LINE 2(B) THE CREDIT UNION RECEIVES AN ANNUAL FINANCIAL STATEMENT AUDIT FROM INDEPENDENT ACCOUNTANTS. HOWEVER, THE AUDIT PERIOD IS FROM JULY 1 TO JUNE 30. THE MOST RECENT AUDITED FINANCIALS AS OF DECEMBER 31, 2024, ARE FOR THE YEAR ENDED JUNE 30, 2025. FORM 990, PART XII, FINANCIAL STATEMENTS AND REPORTING, LINE 2(C) THE CREDIT UNION HAS A SUPERVISORY COMMITTEE WHO IS RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT ACCOUNTANTS. WE GIVE BACK FOUNDATION INC 9560 PINES BLVD PEMBROKE PINES FL 33024 871934137 FUNDING FOR COMMUNITY ORGANIZATIONS FL 501(C)(3) PF 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0