2025-11-13T17:14:54+00:00 2024-12-31 346565596 ERNST & YOUNG US LLP 55 IVAN ALLEN JR BOULEVARD ATLANTA GA 30308 990 2024-01-01 590690965 VyStar Credit Union VYST 9047776000 76 SOUTH LAURA STREET JACKSONVILLE FL 32202 JAMES EDWARDS CFO 9047776000 2025-11-13 true Tanya G Gainsford P02197689 4048748300 2025-11-13 2024 2025-03-06 01:10:19Z JAMES EDWARDS 76 SOUTH LAURA STREET JACKSONVILLE FL 32202 901607422 false X WWW.VYSTARCU.ORG X 1952 FL VYSTAR CREDIT UNION EXISTS TO SERVE THE FINANCIAL NEEDS OF OUR MEMBERS BY PROVIDING QUALITY PRODUCTS AND SERVICES WHILE MAINTAINING FISCAL SOUNDNESS. 9 9 3196 12 3067081 655997 0 0 628787490 730655584 131567654 157826698 -613570 -2380165 759741574 886102117 2036471 1069358 0 0 219111965 249457980 0 0 0 514011534 719421565 735159970 969948903 24581604 -83846786 13578667359 13974781649 12824517966 13241658752 754149393 733122897 VYSTAR CREDIT UNION EXISTS TO SERVE THE FINANCIAL NEEDS OF OUR MEMBERS BY PROVIDING QUALITY PRODUCTS AND SERVICES WHILE MAINTAINING FISCAL SOUNDNESS. OUR PURPOSE IS TO DO GOOD AND OUR CORE VALUE IS TO LEAD BY EXAMPLE IN EVERYTHING WE DO. false false PROVIDE CONSUMER AND BUSINESS LOAN PRODUCTS TO MEMBERS AT COMPETITIVE RATES WITH MINIMUAL OR NO FEES. PROVIDE DEPOSIT PRODUCTS TO INDIVIDUAL MEMBERS AND BUSINESS MEMBERS AT COMPETITIVE RATES WITH MINIMUAL OR NO FEES. PROVIDE INVESTMENT, INSURANCE, AND TITLE AGENCY SERVICES TO MEMBERS WITH MINIMAL FEES. 0 false false false false false false false false false false true false false false true true true false false false false false false false false false false true false true false false false false false true false false false false false false false false true false false false false false true 233464 0 true 3196 true true true false false false false false true false X 9 9 false false false false true true true true true false true true true true true true true true true true false false FL GA X VYSTAR CU - ACCTG DEPT 9047776000 76 SOUTH LAURA STREET JACKSONVILLE FL 32202 DIANE R FEARS SECRETARY 5.0 0.0 X X 1278 0 0 Eric Hatfield Vice Chairman 5.0 0.0 X X 6011 0 0 JONATHAN HOGAN Treasurer 5.0 0.0 X X 1701 0 0 Phillip K Siddons Chairman 5.0 0.0 X X 2953 0 0 GEORGE R BERRY BOARD MEMBER 5.0 0.0 X 0 0 0 JENNIFER LUSK BOARD MEMBER 5.0 0.0 X 0 0 0 Meredith Pickens Board Member 5.0 0.0 X 0 0 0 VICKI S HARRIS BOARD MEMBER 5.0 0.0 X 250 0 0 VICTOR BLACKSHEAR BOARD MEMBER 5.0 0.0 X 0 0 0 WILLIAM VIVIAN BOARD MEMBER (TERM DATE 3/8/24) 5.0 0.0 X 1150 0 0 Brian E Wolfburg President/CEO 40.0 0.0 X 2148577 0 48472 Chad Meadows Chief Operations Officer 40.0 0.0 X 967623 0 47472 James Edwards CFO 40.0 0.0 X 544600 0 51651 JOEL R SWANSON Chief Lending Officer 40.0 0.0 X 743483 0 49472 Kawanza Humphrey Chief Human Resource Officer 40.0 0.0 X 474866 0 40043 Lisa Cochran Chief Information Officer 40.0 0.0 X 740581 0 45034 Bradley King Senior Mortgage Loan Officer 40.0 0.0 X 536268 0 49670 Jason Knight Senior Mortgage Loan Officer 40.0 0.0 X 644207 0 29582 John Robinson VP/Mortgage Banker 40.0 0.0 X 1076139 0 39282 Lance Davies Chief Risk Officer & General Counsel 40.0 0.0 X 530557 0 55901 Paul Blackstone SVP, Special Projects 40.0 0.0 X 525274 0 43667 JENNY H VIPPERMAN FORMER CHIEF LENDING OFFICER 0.0 0.0 X 563819 0 0 9509337 0 500246 449 true true false DANA B KENYON COMPANY 5772 Timuquana Rd Jacksonville FL 33207 Construction Services 16129513 VISA USA Inc PO BOX 742233 Los Angeles CA 900742233 Debit card network 12153296 FISERV PO BOX 934057 ATLANTA GA 31193 DEBIT CARD SERVICES 11055809 FIDELITY NATIONAL INFORMATION SERVICES INC 601 Riverside Ave Jacksonville FL 32204 IT Core Services 8024025 SEVAN MULTI-SITE SOLUTIONS INC 3025 HIGHLAND PARKWAY SUITE 850 DOWNERS GROVE IL 60515 CONSTRUCTION 5561123 252 0 INTEREST ON LOANS 525990 570214178 570214178 FEES & COMMISSIONS 525990 141692792 138088447 3604345 GAIN ON SALE OF LOANS 525990 1678352 1678352 CR LIFE & DISAB, GAP, VIS, DEBT PROTECTION 525990 17070262 17070262 0 0 0 0 730655584 148140195 -537264 148677459 1917569 4742167 -2824598 0 -2824598 -2898575 73977 20449641 10763138 0 9686503 9686503 9686503 PARKING INCOME 525990 444433 444433 0 0 0 0 444433 886102117 724597097 3067081 158437939 1069358 6240479 185959978 7386529 35317466 14553528 3896826 275431 66350 25818329 20432937 117169929 18796215 14031256 850600 1901620 129925681 35004684 3587347 INTEREST PAID TO MEMBERS 153917149 PROVISION FOR LOAN LOSS 176737173 LOAN PROGRAMS 6666979 ACCRUED INCOME TAXES 612869 9730190 969948903 92892942 129914186 404082611 532518789 0 28190814 29220564 69365184 78853233 0 0 9417152281 9805522676 0 0 713653387 179098903 487621236 534554484 2820390055 2547344720 0 44862858 49156765 28485668 62459830 185623710 205236402 13578667359 13974781649 143604123 109076013 0 0 0 0 0 0 2631212276 2425674549 0 10049701567 10706908190 12824517966 13241658752 0 0 X 0 0 754149393 733122897 754149393 733122897 13578667359 13974781649 X -83846786 18106866 44713424 X false true true false 138384193 138384193 359314747 72210075 287104672 24537071 13367233 11169838 160343012 93521595 66821417 31074364 31074364 534554484 Federal Income Taxes MEMBER DEPOSITS 10526743944 CONTINGENT LIABILITY 7221633 NON-MEMBER DEPOSITS 171635087 UNFUNDED COMMITMENTS RESERVE 1307526 10706908190 X 890844284 4742167 4742167 886102117 0 0 886102117 974691070 4742167 4742167 969948903 0 0 969948903 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The Credit Union is exempt, under Internal Revenue Code 501(c)(14), from most federal and state income taxes. The Credit Union has filed tax returns in the past for activities it has deemed taxable as unrelated business income. The Credit Union evaluated its tax positions and determined no uncertain tax positions exist as of December 31, 2024 and 2023. The Credit Union's 2021 through 2023 tax years are open for examination by federal and state taxing authorities. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 Rental expense - 4742167 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 Rental expense - 4742167 true Cummer Museum 829 Riverside Ave Jacksonville FL 32204 592191587 501 (C)(3) 25000 Program Support Downtown Vision 29 W Duval St Jacksonville FL 32202 205076887 501 (C)(3) 100000 Program Support Goodwill Industries of North Florida 4527 Lenox Ave Jacksonville FL 32205 590637858 501 (C)(3) 20000 Program Support Hubbard House PO Box 4909 Jacksonville FL 32201 203809007 501 (C)(3) 20000 Program Support Jacksonville Pub Edu Fund 40 E Adams St S 110 Jacksonville FL 32202 592756660 501 (C)(3) 30000 Program Support JASMYN PO Box 2973 Jacksonville FL 32203 593284175 501 (C)(3) 27958 Program Support Museum Contemporary Art Jacksonville 333 N Laura St Jacksonville FL 32202 590689705 501 (C)(3) 66000 Program Support North Florida Land Trust 843 W Monroe St Jacksonville FL 32202 593609167 501 (C)(3) 25000 Program Support Ronald McDonald House Jacksonville 824 Childrens Way Jacksonville FL 32207 592625008 501 (C)(3) 77200 Program Support Thrive Scholars 75 Federal St Suite 1250 Boston MA 02110 455619310 501 (C)(3) 20000 Program Support Vystar Foundation PO Box 45085 Jacksonville FL 32232 872247208 501 (c)(3) 650000 Program Support 11 0 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds VYSTAR CREDIT UNION PROVIDES GRANTS TO QUALIFIED ORGANIZATIONS LISTED ON SCHEDULE I, PART II. VYSTAR MAINTAINS RECORDS TO SUBSTANTIATE THE AMOUNTS OF THE GRANTS GIVEN AND DETERMINES ELIGIBILITY FOR GRANT FUNDS BY CONFIRMING THE EXEMPT STATUS OF THE GRANTEE. ONCE FUNDS ARE TRANSFERRED, THE FILING ORGANIZATION DOES NOT MONITOR THE FUNDS. THE PURPOSE OF THE FUNDS IS AT THE DISCRETION OF THE GRANTEE. X X X true true X X X X X X false true false James Edwards CFO 485868 0 24950 0 33782 0 17250 0 34401 0 596251 0 0 0 Chad Meadows Chief Operations Officer 817151 0 41168 0 109304 0 17250 0 30222 0 1015095 0 0 0 Brian E Wolfburg President/CEO 1618930 0 336000 0 193647 0 17250 0 31222 0 2197049 0 0 0 JENNY H VIPPERMAN FORMER CHIEF LENDING OFFICER 0 0 0 0 563819 0 0 0 0 0 563819 0 0 0 Kawanza Humphrey Chief Human Resource Officer 416900 0 21706 0 36260 0 17250 0 22793 0 514909 0 0 0 JOEL R SWANSON Chief Lending Officer 655495 0 30900 0 57088 0 17250 0 32222 0 792955 0 0 0 Lisa Cochran Chief Information Officer 670123 0 34199 0 36259 0 17250 0 27784 0 785615 0 0 0 Lance Davies Chief Risk Officer & General Counsel 444483 0 21796 0 64278 0 17250 0 38651 0 586458 0 0 0 John Robinson VP/Mortgage Banker 21145 0 1053501 0 1493 0 11982 0 27300 0 1115421 0 0 0 Bradley King Senior Mortgage Loan Officer 13303 0 521208 0 1757 0 15502 0 34168 0 585938 0 0 0 Jason Knight Senior Mortgage Loan Officer 16428 0 626856 0 923 0 12828 0 16754 0 673789 0 0 0 Paul Blackstone SVP, Special Projects 366424 0 126250 0 32600 0 17250 0 26417 0 568941 0 0 0 Schedule J, Part I, Line 1a First-class or charter travel CERTAIN EXECUTIVES MAY TRAVEL FIRST-CLASS AS BUSINESS NEED DICTATES. THESE INSTANCES ARE CONSIDERED NECESSARY BUSINESS EXPENSES. Schedule J, Part I, Line 1a Travel for companions TRAVEL FOR COMPANIONS IS AVAILABLE TO ALL 12 VOLUNTEERS, EXECUTIVE TEAM, AND KEY EMPLOYEES AND IS INCLUDED IN TAXABLE INCOME. Schedule J, Part I, Line 1a Health or social club dues or initiation fees HEALTH CLUB DUES ARE AVAILABLE TO ALL VYSTAR EMPLOYEES AND IS INCLUDED IN TAXABLE INCOME. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan SPLIT DOLLAR LIFE INSURANCE PARTICIPANTS ARE Paul Blackstone, LISA COCHRAN, KAWANZA HUMPHREY, CHAD MEADOWS, JOEL SWANSON, BRIAN WOLFBURG, James Edwards and Lance Davies. THE ORGANIZATION DEPOSITED FUNDS INTO LIFE INSURANCE POLICIES ON THE PARTICIPANT'S LIFE. DURING LIFE, AND SUBJECT TO THE POLICIES GENERATING SUFFICIENT VALUES, THE PARTICIPANT CAN BORROW FROM ONE OF THE POLICIES. THE BORROWING IS MONITORED AND LIMITED SO THE POLICIES DO NOT LAPSE. AT THE PARTICIPANT'S DEATH, THE ORGANIZATION RECOVERS AN AMOUNT GENERALLY EQUAL TO ITS PREMIUMS PLUS INTEREST. PARTICIPANTS IN THE PLAN HAVE SIGNED WRITTEN REPRESENTATIONS UNDER REG. 1.78782.15(D)(2) AND THOSE REPRESENTATIONS ARE MAINTAINED ON FILE BY VYSTAR CREDIT UNION. Brian Wolfburg President/CEO Split Dollar Life X 22350000 24176292 false true true Kawanza Humphrey Chief Human Resource Officer Split Dollar Life X 4500000 4762843 false true true Lisa Cochran Chief Information Officer Split Dollar Life X 9250000 9769711 false true true Chad Meadows Chief Operations Officer Split Dollar Life X 13600000 14389418 false true true Joel Swanson Chief Lending Officer Split Dollar Life X 11275000 11955585 false true true James Edwards Chief Financial Officer Split Dollar Life X 6300000 6443874 false true true Lance Davies Chief Legal Officer Split Dollar Life X 5000000 5126638 false true true Paul Blackstone SVP Special Projects Split Dollar Life X 2100000 2228872 false true true 78853233 Schedule L, Part II Loans To/From Interested Persons The organization provides supplemental retirement benefits through an arrangement the IRS refers to as "collateral assignment split dollar" (CASD). Although the IRS requires reporting in Part II, above, for loans to interested persons, CASD is not an actual loan. There is neither a transfer of funds to the participant nor an obligation for the participant to repay those funds. Instead, the organization recovers its outlays plus interest from the underlying policy. The recovery right is a key advantage of CASD. With traditional deferred compensation, the organization pays the benefit from corporate assets, never to recover those dollars. With CASD, the organization recovers not only its outlays, but also interest that takes into account the time value of money. In CASD, the organization deposits dollars directly into a life insurance policy, with the organization holding a lien on the policy to ensure repayment. At specified times and subject to vesting requirements, the participant may borrow from the cash value of the policy to supplement retirement income (provided there are sufficient policy values). Borrowing is carefully monitored and limited to assure that the policy will remain in effect until the participant's death and will pay a death benefit at least sufficient to repay the organization's outlays plus interest. Any remaining death proceeds are divided between the organization and the executive's beneficiary as specified in the agreement. Form 990, Part VI, Line 6 Classes of members or stockholders PARTICIPATION IN THIS CREDIT UNION IS LIMITED TO THOSE WHO QUALIFY FOR MEMBERSHIP AS DEFINED IN THE CREDIT UNION'S CHARTER AND BYLAWS. VYSTAR CREDIT UNION HAS GROWN TO SERVE ANYONE WHO LIVES AND WORKS WITHIN THE AREAS OF SERVICE FROM CENTRAL FLORIDA THROUGH GEORGIA, AS WELL AS PAST AND PRESENT MILITARY MEMBERS ALL OVER THE WORLD. 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, Line 7a Members or stockholders electing members of governing body POWER TO ELECT OR APPOINT MEMBERS 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 RECOMMENDS 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, MEMBERS WHO ARE 18 OR OLDER 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. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders DECISIONS RESERVED TO MEMBER OR STOCKHOLDERS PER FLORIDA STATUTES, A PROPOSED MERGER WITH ANOTHER FINANCIAL INSTITUTION AND A PROPOSED CHARTER CHANGE (FEDERAL, STATE OR BANK) ARE SUBJECT TO APPROVAL BY A MAJORITY OF THE VOTES CAST BY THE MEMBERS. Form 990, Part VI, Line 11b Review of form 990 by governing body THE FORM 990 IS REVIEWED AND APPROVED BY THE CHIEF FINANCIAL OFFICER (CFO) ALONG WITH THE SVP ACCOUNTING. THE COMPLETED 990 IS PROVIDED TO THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS AND CEO FOR THEIR REVIEW BEFORE THE RETURN IS FILED. Form 990, Part VI, Line 12c Conflict of interest policy 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 WITH 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. ANNUALLY, ALL OFFICIALS AND EMPLOYEES ARE REQUIRED TO REVIEW AND CONFIRM THAT THEY HAVE REVIEWED THE CODE OF ETHICS. EMPLOYEES IN THE ORGANIZATION'S INTERNAL AUDIT DEPARTMENT REGULARLY CONDUCT AUDITS OF OFFICIALS EMPLOYEES' DEPOSITORY AND LOAN ACCOUNTS AT VYSTAR CREDIT UNION TO IDENTIFY SUSPICIOUS ACTIVITY, WHICH HELPS TO MONITOR AND/OR IDENTIFY ANY CONFLICTS OF INTEREST. Form 990, Part VI, Line 15a Process to establish compensation of top management official EACH YEAR VYSTAR CREDIT UNION PARTICIPATES IN ONE OR MORE SENIOR MANAGEMENT SURVEYS THAT ARE CONDUCTED BY AN INDEPENDENT INDUSTRY COMPENSATION CONSULTANT. WE INCLUDE INFORMATION WITH REGARDS TO TIME IN JOB, BASE SALARY, VARIABLE PAY, BENEFITS AND PREREQUISITES. WE ALSO REVIEW 990S OF OTHER CREDIT UNIONS. THE RESULTS OF THESE SURVEYS AND ANALYSES ARE USED BY THE COMPENSATION COMMITTEE, WHICH IS COMPRISED OF MEMBERS OF THE BOARD OF DIRECTORS, TO DETERMINE THE COMPENSATION OF THE CEO. THE CEO'S COMPENSATION AND BENEFITS ARE APPROVED BY THE BOARD OF DIRECTORS. THIS PROCESS HAS BEEN IN PLACE SINCE AT LEAST 1999 AND WAS IN PLACE FOR THE CURRENT YEAR. Form 990, Part VI, Line 15b Process to establish compensation of other employees EACH YEAR VYSTAR CREDIT UNION PARTICIPATES IN LOCAL, REGIONAL, AND NATIONAL 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. Form 990, Part VI, Line 19 Required documents available to the public VYSTAR CREDIT UNION'S GOVERNING DOCUMENTS, POLICIES, PROCEDURES, AND ANNUAL REPORTS ARE NOT MADE AVAILABLE TO THE GENERAL PUBLIC. OUR ANNUAL REPORTS ARE AVAILABLE ON OUR WEBSITE FOR THE MOST RECENT SIX YEARS. Form 990, Part XI, Line 9 Other changes in net assets or fund balances ACQUIRED EQUITY - 44713424; Total - 44713424; VYSTAR FINANCIAL GROUP LLC 76 SOUTH LAURA STREET JACKSONVILLE FL 32202 593683267 HOLDNG COMPANY FL 212453 20135198 VYSTAR CU VYSTAR INSURANCE AGENCY LLC 76 S LAURA STREET JACKSONVILLE FL 32202 861900430 INSURANCE FL 2079276 6707626 VFG VYSTAR TITLE AGENCY LLC 76 S LAURA STREET JACKSONVILLE FL 32202 861875830 TITLE AGENCY FL 2443545 7726092 VFG VYSTAR NML LLC 76 S LAURA STREET JACKSONVILLE FL 32202 861925978 NON-MEM LOANS FL 1501145 13810577 VFG