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Nonprofit · EIN 59-0389335

STATE CHARTERED CREDIT UNIONS IN FLORIDA

Also known as FIRST CHOICE CREDIT UNION

Tax-exempt · WEST PALM BCH, FL 33406

Financials

$6.2M$5M2023$6.7M$5.9M2024$7.3M$6.7M2025
Revenue Expenses · by fiscal year end
Financials of STATE CHARTERED CREDIT UNIONS IN FLORIDA by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2025990$7,250,348$6,688,811$561,537$154,333,736$141,562,563$12,771,173
December 31, 2024990$6,708,335$5,906,251$802,084$145,073,459$134,683,531$10,389,928
December 31, 2023990$6,176,651$5,009,381$1,167,270$141,168,447$132,691,101$8,477,346
Financial details: 990 for the year ended December 31, 2025

Revenue

Contributions, gifts and grants
$0
Program service revenue
$5,080,795
Investment income
$2,169,553
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$462,660
Other salaries and wages
$1,259,747
Salaries, compensation and benefits (total)
$2,034,238
Professional fundraising fees
$0
Legal fees
$19,685
Accounting fees
$333,262
Occupancy
$137,001
Travel
$5,713
Depreciation
$169,640
Program services (functional)
$6,688,811

Balance sheet and other

Total assets, start of year
$145,073,459
Total assets, end of year
$154,333,736
Total liabilities, end of year
$141,562,563
Net assets, end of year
$12,771,173
Land, buildings and equipment
$2,162,675
Publicly traded securities
$41,602,422
Gross unrelated business income
$32,759
Gross receipts
$7,250,348
Employees
30
Volunteers
0
Year formed
1929
State of legal domicile
FL

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2025, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
MICHAEL WELTECEO
Officer
40$307,183$723
WILLIAM MCCOYCFO
Officer
40$155,477$12,621
ROBERT DELANCYBOARD VICE CHAIRPERSON
Trustee or director
2$0$0
RHONDA DIFFENBACHBOARD CHAIRPERSON
Trustee or director
2$0$0
THOMAS MCGOVERNBOARD MEMBER
Trustee or director
2$0$0
LUIS RODRIGUEZBOARD MEMBER
Trustee or director
2$0$0
SCOTT JOHNSONBOARD SECRETARY BOARD TREASURER
Trustee or director
2$0$0
TARYN GUARIGLIABOARD MEMBER
Trustee or director
2$0$0
RAE FRANKSBOARD MEMBER
Trustee or director
2$0$0
ISAAC BROADBOARD MEMBER
Trustee or director
2$0$0
GREGORY MURPHY JRBOARD MEMBER
Trustee or director
2$0$0
990 for the year ended December 31, 2024: 10 people
NameTitleHours / weekCompensation
MICHAEL WELTECEO
Officer
40$292,248
ROBERT DELANCYBOARD VICE CHAIRPERSON
Trustee or director
2$0
RHONDA DIFFENBACHBOARD CHAIRPERSON
Trustee or director
2$0
THOMAS MCGOVERNBOARD MEMBER
Trustee or director
2$0
LUIS RODRIGUEZBOARD MEMBER
Trustee or director
2$0
SCOTT JOHNSONBOARD SECRETARY BOARD TREASURER
Trustee or director
2$0
TARYN GUARIGLIABOARD MEMBER
Trustee or director
2$0
RAE FRANKSBOARD MEMBER
Trustee or director
2$0
ISAAC BROADBOARD MEMBER
Trustee or director
2$0
GREGORY MURPHY JRBOARD MEMBER
Trustee or director
2$0
990 for the year ended December 31, 2023: 10 people
NameTitleHours / weekCompensation
MICHAEL WELTECEO
Officer
40$264,337
ROBERT DELANCYBOARD CHAIRPERSON
Trustee or director
2$0
RHONDA DIFFENBACHBOARD VICE CHAIRPERSON
Trustee or director
2$0
PATRICIA ABEL GRINGERISUPERVISORY COMMITTE CHAIRPERSON
Trustee or director
2$0
THOMAS MCGOVERNBOARD MEMBER
Trustee or director
2$0
CORLETT JAMESSUPERVISORY COMMITTEE MEMBER
Trustee or director
2$0
LUIS RODRIGUEZBOARD MEMBER
Trustee or director
2$0
SCOTT JOHNSONBOARD SECRETARY BOARD TREASURER
Trustee or director
2$0
TARYN GUARIGLIABOARD MEMBER
Trustee or director
2$0
RAE FRANKSBOARD MEMBER
Trustee or director
2$0

Address and contacts

Address (IRS master file)
1055 S CONGRESS AVE, WEST PALM BCH, FL 33406-5195
In care of
% MICHAEL WELTE
Principal officer (990 for 2025)
MICHAEL WELTE, 1055 S CONGRESS AVE, WEST PALM BCH, FL 334065195
Signed the 990
MICHAEL WELTE, CEO
Phone
(561) 641-0100
Return prepared by
Ewart & Associates LLC

Mission

PROGRAMS OF CREDIT UNIONS OFFERING PERSONAL FINANCIAL SERVICES EXCLUSIVELY TO THE MEMBERS FEATURING COMPETITIVE RATES ON LOANS & INVESTMENTS AND OTHER PRODUCTS

990 for the year ended December 31, 2025

Program accomplishments

  • CREDIT UNION OFFERING PERSONAL FINANCIAL SERVICES TO MEMBERS0
  • Expenses $6,688,811 · revenue $7,250,348

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026990 on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
59-0389335
Tax-exempt status
501(c)(14): State-chartered credit union
Donations deductible
No
Exempt since
1970
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$154,333,736
Income (IRS master file)
$7,250,348

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2025$7,250,348$6,688,811$154,333,736IRS
990December 2024$6,708,335$5,906,251$145,073,459IRS
990December 2023$6,176,651$5,009,381$141,168,447XML
990December 2022$4,442,723$3,171,142$148,372,819IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2019–––IRS
990December 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 59-0389335).

Questions about STATE CHARTERED CREDIT UNIONS IN FLORIDA

What is the EIN of STATE CHARTERED CREDIT UNIONS IN FLORIDA?
The employer identification number (EIN) of STATE CHARTERED CREDIT UNIONS IN FLORIDA is 59-0389335.
Is STATE CHARTERED CREDIT UNIONS IN FLORIDA tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1970.
Are donations to STATE CHARTERED CREDIT UNIONS IN FLORIDA tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does STATE CHARTERED CREDIT UNIONS IN FLORIDA file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of STATE CHARTERED CREDIT UNIONS IN FLORIDA due?
The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
When did STATE CHARTERED CREDIT UNIONS IN FLORIDA last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2025.
Who is the principal officer of STATE CHARTERED CREDIT UNIONS IN FLORIDA?
The 990 for the year ended December 31, 2025 names MICHAEL WELTE.
Who are the officers and directors of STATE CHARTERED CREDIT UNIONS IN FLORIDA?
The 990 for the year ended December 31, 2025 lists 11 people; 2 received compensation from the organization, the highest $307,183 (MICHAEL WELTE, CEO).
How much revenue does STATE CHARTERED CREDIT UNIONS IN FLORIDA have?
On its 990 for the year ended December 31, 2025 it reported revenue of $7,250,348, expenses of $6,688,811 and total assets of $154,333,736 at year end.

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