2025-11-14T10:32:04-06:00 2024-12-31 454084437 WARREN AVERETT LLC 350 W CEDAR STREET SUITE 400 PENSACOLA FL 32502 990 2024-01-01 590777511 MEMBERS FIRST CREDIT UNION OF FLORIDA MEMB 8504342211 PO BOX 12983 PENSACOLA FL 32591 MICHELE WILLIAMS PRESIDENT/CEO 8504342211 2025-11-14 1 1 CLAIRE C DUREN CPA P01577924 8504357400 2025-11-14 2024 2025-03-06 01:10:19Z MICHELE WILLIAMS PO BOX 12983 PENSACOLA FL 32591 17644505 0 X WWW.MEMBERSFIRSTFL.ORG X CREDIT UNION 1954 FL TO PROVIDE FINANCIAL SERVICES TO OUR MEMBERS. 7 7 103 9 20534 0 0 0 11415086 12362460 4734277 5260372 22767 20534 16172130 17643366 0 0 0 0 5540992 5456231 0 0 0 6497180 8275578 12038172 13731809 4133958 3911557 286801436 293130548 252622544 255042766 34178892 38087782 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 19,000. 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 6686 0 1 103 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 X X 0 0 0 BILL FARINAS DIRECTOR 1.00 X 0 0 0 THERESA MCCANTS CHAIRPERSON 1.00 X X 0 0 0 LINDA HARRIS VICE CHAIRPERSON 1.00 X X 0 0 0 CLARENCE LADNER DIRECTOR 1.00 X 0 0 0 KATHY TERRELL DIRECTOR 1.00 X 0 0 0 JACK MARMASH TREASURER 1.00 X X 0 0 0 CARYL A GREENE PRESIDENT/CEO UNTIL 03/24 40.00 X 152814 0 6234 MICHELE WILLIAMS PRESIDENT/CEO 40.00 X 286656 0 194275 TOM PAINTER CHIEF FINANCIAL OFFICER 40.00 X 132862 0 52934 JEFF CRUTCHFIELD CHIEF INFORMATION OFFICER 40.00 X 115136 0 24377 ADETOUN SANDERS VP MARKETING & BUS. DEV. 40.00 X 95991 0 9461 TAMMY MILLER CHIEF OPERATING OFFICER 40.00 X 120261 0 11733 CHRISTINA REYNOLDS VP HUMAN RESOURCES 40.00 X 85029 0 4686 JOANNE HYATT CHIEF LENDING OFFICER 40.00 X 127725 0 14119 1116474 0 317819 6 0 1 0 EDDY TUB DBA JANICARE JANITORIAL 2027 HESPERIA WAY PENSACOLA FL 32505 CLEANING SERVICES 110836 ACTION MAILING 2809 COPTER ROAD PENSACOLA FL 32514 PRINT & MAIL SERVICES 109928 2 INTEREST ON LOANS 522100 8148493 8148493 SERVICE FEES AND MISCELLANEOUS IN 522100 4213967 4213967 12362460 5261511 5261511 1139 -1139 -1139 -1139 NON-MEMBER FOREIGN ATM INCOME 522100 20534 20534 20534 17643366 12362460 20534 5260372 1511411 3455108 18309 121480 349923 130705 86750 12600 307683 1355403 351751 28945 49275 1909692 374714 148806 PROVISION FOR LOAN LOSS 1285330 ATM EXPENSES 753026 CREDIT & DEBIT CARD EXP 490364 HOME BANKING EXPENSE 326704 663830 13731809 3830453 4231654 91601882 86482518 55666 127183 4392830 4473986 141119959 139177209 610853 487629 15418357 7375075 8329134 8043282 30378274 41493322 6482385 8613765 286801436 293130548 3294921 3314567 249327623 251728199 252622544 255042766 X 0 0 0 0 34178892 38087782 34178892 38087782 286801436 293130548 X 3911557 -123196 120529 X X 0 1 X 1 0 1089 1089 1089 1 FLORIDA CREDIT UNION POLITICAL ACTION COMMITTEE 3692 COOLIDGE COURT TALLAHASSEE FL 32311 591889104 1089 PART I-A, LINE 1: DONATION TO FLORIDA CREDIT UNION POLITICAL ACTION COMMITTEE (FL CUPAC). 2440273 2440273 8622007 3619258 5002749 4356077 3755817 600260 8043282 AFS SECURITIES 40259888 F CORPORATE MEMBERSHIP CAPITAL 1165544 C TRELLANCE INVESTMENT 67890 C 41493322 MEMBERS' SHARE AND SAVINGS ACCOUNTS 251728199 251728199 X 17644505 0 17644505 -1139 -1139 17643366 13732948 1139 1139 13731809 0 13731809 PART X, LINE 2: AS OF DECEMBER 31, 2024, 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 2021. PART XI, LINE 4B - OTHER ADJUSTMENTS: LOSS ON DISPOSITION OF FIXED ASSETS -1,139. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSS ON DISPOSITION OF FIXED ASSETS 1,139. X 1 1 X X 0 1 0 MICHELE WILLIAMS PRESIDENT/CEO 257843 0 244 0 28569 0 184496 0 9779 0 480931 0 0 0 TOM PAINTER CHIEF FINANCIAL OFFICER 131052 0 244 0 1566 0 28972 0 23962 0 185796 0 0 0 CARYL A GREENE PRESIDENT/CEO UNTIL 03/24 80160 0 13627 0 59027 0 4190 0 2044 0 159048 0 0 0 PART I, LINE 4B CARYL A. GREENE, FORMER PRESIDENT/CEO, HAD A 457(F) DEFERRED COMPENSATION ARRANGEMENT WITH THE CREDIT UNION THAT PROVIDED A FINAL BENEFIT PAYOUT IN 2024 OF $50,000, WHICH WAS INCLUDED IN HER 2024 W-2 WAGES. THE BENEFIT WAS ACCRUED MONTHLY AND INCLUDED A 2024 ACCRUAL TOTAL OF 16,889.13 TO FULLY FUND THE PAYOUT IN THE SAME YEAR. MICHELE WILLIAMS, CURRENT PRESIDENT/CEO, HAS A 457(F) DEFERRED COMPENSATION ARRANGEMENT WITH THE CREDIT UNION THAT BEGAN IN 2024 AND WILL PROVIDE A BENEFIT TO THE PRESIDENT/CEO IN 2027 OF $150,000. THE BENEFIT IS ACCRUED MONTHLY WITH A 2024 ACCRUAL TOTAL OF 47,143.11. BEGINNING IN 2024, MICHELE WILLIAMS ALSO HAS A 457(F) ARRANGEMENT PROVIDED BY THE CREDIT UNION THROUGH SIMPLIFIED THAT WILL PROVIDE A STRUCTURED BENEFIT PAYOUT POST-RETIREMENT. THE BENEFIT IS ACCRUED MONTHLY WITH A 2024 ACCRUAL TOTAL OF 125,314.00. TOM PAINTER, CURRENT CFO, HAS A 457(F) ARRANGEMENT PROVIDED BY THE CREDIT UNION THROUGH SIMPLIFIED THAT WILL PROVIDE A PAYOUT BENEFIT IN 2025. THIS ARRANGEMENT BEGAN IN LATE 2016 AND HAS BEEN ACCRUED MONTHLY BEGINNING IN 2017. THE ACCRUED MONTHLY AMOUNT FOR 2024 WAS 28,750.00. THE CREDIT UNION ENTERED INTO COLLATERAL ASSIGNMENT SPLIT-DOLLAR LIFE INSURANCE ARRANGEMENTS WITH CARYL A. GREENE, FORMER PRESIDENT/CEO (2015) AND MICHELE WILLIAMS, CURRENT PRESIDENT/CEO (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 FORMER PRESIDENT/CEO TO PAY THE PREMIUMS OF COLLATERAL ASSIGNMENT SPLIT-DOLLAR LIFE INSURANCE X 2104332 2625883 0 1 1 MICHELE WILLIAMS PRESIDENT/CEO TO PAY THE PREMIUMS OF COLLATERAL ASSIGNMENT SPLIT-DOLLAR LIFE INSURANCE X 1467138 1848103 0 1 1 4473986 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 120,529. CUMULATIVE EFFECT OF CHANGE IN ACCOUNTING PRINCIPLE CECL ADOPTION FORM 990, PART XII, LINE 2C: NO CHANGE FROM PRIOR YEAR.