FORM 990, PART VI, SECTION A, LINE 6 |
MEMBERSHIP IN THIS CREDIT UNION IS COMPOSED OF THOSE WHO LIVE, WORK, OR HAVE AN ASSOCIATION WITH THE EDUCATIONAL COMMUNITY IN BAKER, BREVARD, BROWARD, CLAY, DUVAL, FLAGLER, INDIAN RIVER, LAKE, MARTIN, NASSAU, ORANGE, PALM BEACH, PUTNAM, SEMINOLE, ST. JOHNS, ST. LUCIE, AND VOLUSIA COUNTIES IN FLORIDA, AND OTHER SELECT EMPLOYEE GROUPS WHO HAVE PETITIONED FOR MEMBERSHIP. IN ADDITION TO A REGULARLY QUALIFIED MEMBER, THE SPOUSE OF A MEMBER, THE BLOOD OR ADOPTIVE RELATIVES OF EITHER OF THEM AND THEIR SPOUSES MAY BE MEMBERS. |
FORM 990, PART VI, SECTION A, LINE 7A |
THE CREDIT UNION MEMBERSHIP MAY PARTICIPATE IN THE ELECTION OF OFFICIALS. |
FORM 990, PART VI, SECTION A, LINE 7B |
THE FOLLOWING GOVERNANCE DECISIONS REQUIRE MEMBER APPROVAL: VOLUNTARY LIQUIDATION - MAJORITY VOTE OF MEMBERS VOTING FOLLOWING BOARD MAJORITY APPROVAL AND FEDERAL AND STATE REGULATORS' APPROVAL; MERGER WITH ANOTHER CREDIT UNION - MAJORITY VOTE OF MEMBERS VOTING FOLLOWING BOARD MAJORITY APPROVAL AND FEDERAL AND STATE REGULATORS' APPROVAL; CONVERSION FROM STATE CREDIT UNION CHARTER TO FEDERAL CREDIT UNION CHARTER - MAJORITY VOTE OF MEMBERS VOTING FOLLOWING BOARD MAJORITY APPROVAL AND FEDERAL AND STATE REGULATORS' APPROVAL; CONVERSION TO ANOTHER FINANCIAL INSTITUTION TYPE CHARTER - MAJORITY VOTE OF ALL MEMBERS ELIGIBLE TO VOTE FOLLOWING BOARD MAJORITY APPROVAL AND FEDERAL AND STATE REGULATORS' APPROVAL; MERGER WITH A BANK - MAJORITY VOTE OF MEMBERS VOTING (WITH 20% MINIMUM ELIGIBLE MEMBER VOTING REQUIREMENT) FOLLOWING BOARD MAJORITY APPROVAL AND FEDERAL AND STATE REGULATORS' APPROVAL; ELECTION OF BOARD - MAJORITY VOTE OF MEMBERS VOTING. FOR ALL OF THE ABOVE DECISIONS, THERE IS A SINGLE CLASS OF MEMBERS WITH EACH MEMBER ENTITLED TO A SINGLE VOTE REGARDLESS OF THE NUMBER OF SHARES IN THE CREDIT UNION. |
FORM 990, PART VI, SECTION B, LINE 11B |
THE CONTROLLER IS RESPONSIBLE FOR THE PREPARATION OF THE RETURN. UPON COMPLETION, THE RETURN IS REVIEWED BY THE CEO AND CFO. ONCE ALL PARTIES HAVE COMPLETED THEIR REVIEW AND ANY NECESSARY CORRECTIONS HAVE BEEN MADE, THE RETURN IS FILED AND A COPY OF THE RETURN WILL BE MADE AVAILABLE UPON REQUEST. THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS SHALL REVIEW THE FORM 990 SUBSEQUENT TO FILING. |
FORM 990, PART VI, SECTION B, LINE 12C |
THE BOARD OF DIRECTORS, MANAGEMENT AND STAFF ARE COVERED BY THE CONFLICTS OF INTEREST POLICY. IT IS REVIEWED ANNUALLY. ACTUAL OR POTENTIAL CONFLICTS OF INTEREST WOULD BE INVESTIGATED BY INTERNAL AUDIT OR LOSS PREVENTION DEPARTMENTS. APPROPRIATE ACTIONS UP TO AND INCLUDING LIMITING TRANSACTION CAPABILITIES OR PROHIBITING PERSONS WITH A CONFLICT TO PARTICIPATE IN GOVERNING ACTIVITIES SUCH AS DELIBERATIONS OR VOTES WHERE CONFLICTS EXIST WOULD BE IMPOSED. |
FORM 990, PART VI, SECTION B, LINE 15 |
THE REVIEW OF THE CEO'S COMPENSATION IS A FUNCTION OF THE BOARD OF DIRECTORS. ANNUALLY, THE BOARD USES AN EXECUTIVE COMPENSATION SURVEY FROM AN INDEPENDENT THIRD PARTY TO DETERMINE THE CEO'S COMPENSATION. FOR ALL OTHER POSITIONS IN THE ORGANIZATION, PAY RANGES ARE REVIEWED ON AN ANNUAL BASIS UTILIZING DATA FROM AN INDEPENDENT COMPENSATION STUDY. |
FORM 990, PART VI, SECTION C, LINE 19 |
GOVERNING DOCUMENTS, THE CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS WILL BE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. THE CREDIT UNION'S QUARTERLY FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC VIEWING ON THE NCUA.GOV WEBSITE VIA THE 5300 FILING. ADDITIONALLY, THE CREDIT UNION'S ANNUAL REPORT IS AVAILABLE FOR PUBLIC VIEWING VIA THE CREDIT UNION'S WEBSITE. |
FORM 990, PART IX, LINE 11G |
ATM RELATED EXPENSES 2,670,585. VISA CHECK CARDS AND GIFT CARDS 2,037,125. REWARDS PROGRAM 1,221,903. STATEMENT/NOTICE PROCESSING 807,807. BILL PAYMENT PROCESSING 315,645. MISC PROFESSIONAL SERVICES 3,311,204. OFFICE STORAGE 1,397. ARMORED CAR 59,904. DOCUMENT SHRED SERVICE 12,610. COURIER SERVICE 116,517. SECURITY 181,418. ASSET LIABILITY MANAGEMENT 144,452. INVESTMENT SERVICES 3,842. RECRUITING & PERSONNEL 193,366. |
FORM 990, PART XI, LINE 9: |
K-1 GAIN - MEMBERS DEVELOPMENT COMPANY, LLC 205. ROUNDING 2. |
FORM 990, PART XII, LINE 2C |
THE PROCESS USED BY THE COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED SINCE LAST YEAR. |