2024-11-13T14:45:23-06:00 2023-12-31 454084437 WARREN AVERETT LLC 350 W CEDAR STREET SUITE 400 PENSACOLA FL 32502 990 2023-01-01 590746906 SPACE COAST CREDIT UNION SPAC 3217522222 8045 NORTH WICKHAM ROAD MELBOURNE FL 32940 GABE I ENGMAN SVP/CFO 8004477228 2024-11-13 1 1 CLAIRE C DUREN CPA P01577924 8504357400 2024-11-13 2023 2024-10-15 13:58:12Z TIMOTHY M ANTONITION 8045 NORTH WICKHAM ROAD MELBOURNE FL 32940 637997785 0 X WWW.SCCU.COM X 1951 FL TO CREATE VALUE IN COOPERATIVE OWNERSHIP BY PROMOTING THRIFT THROUGH A BROAD ARRAY OF DEPOSIT AND SAVINGS PRODUCTS AND BY PROVIDING A SOURCE OF CREDIT FOR PROVIDENT OR PRODUCTIVE PURPOSES. 9 9 1252 12 583981 0 0 0 296599355 409934128 13442748 30844478 129890 20400 310171993 440799006 0 0 0 0 82007998 94730956 0 0 0 164120435 283671116 246128433 378402072 64043560 62396934 8543983797 8946056038 7779628954 8114022788 764354843 832033250 THE CREDIT UNION OPERATES AS A MEMBER-OWNED DEMOCRATICALLY CONTROLLED COOPERATIVE ORGANIZED TO PROMOTE THRIFT AMONG ITS MEMBERS AND CREATE A SOURCE OF CREDIT FOR THEM AT REASONABLE RATES OF INTEREST. 0 0 DEPOSIT/SAVINGS PRODUCTS - THE CREDIT UNION PROMOTES THRIFT AND SAVINGS BY MAINTAINING A BROAD ARRAY OF DEPOSIT ACCOUNT PRODUCTS WITH LOW FEES AND HIGH INTEREST RATES. CONSUMER LOANS - THE CREDIT UNION CREATES LOW COST SOURCES OF CREDIT FOR THE PURPOSES OF OUR MEMBERS PURCHASING AUTOMOBILES AND OTHER RETAIL PRODUCTS AND SERVICES USED IN THEIR DAILY LIVES. REAL ESTATE LOANS - THE CREDIT UNION CREATES A LOW COST SOURCE OF CREDIT FOR THE PURPOSES OF OUR MEMBERS ATTAINING HOME OWNERSHIP. 0 0 1 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 174522 0 1 1252 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X GABE I ENGMAN 3217522222 8045 NORTH WICKHAM ROAD MELBOURNE FL 32940 JULIE ROBBINS DIRECTOR 3.00 X 0 0 0 WILLIE HOWARD JR DIRECTOR 3.00 X 0 0 0 KAREN PALLADINO DIRECTOR 3.00 X 0 0 0 JOHN G OERTEL CHAIRPERSON 3.00 X X 0 0 0 DALE NEUBERT DIRECTOR 3.00 X 0 0 0 THOMAS MYERS VICE CHAIRPERSON 3.00 X X 0 0 0 DESMOND ALMARALES TREASURER 3.00 X X 0 0 0 HERBERT FISHER SECRETARY 3.00 X X 0 0 0 KEVIN R MCKEOWN DIRECTOR 3.00 X 0 0 0 TIMOTHY M ANTONITION PRESIDENT/CEO 50.00 X 1394242 0 86815 GARY PRAGER SVP CHF STR&GWTH OFFICER 50.00 X 469532 0 34570 LINDA HART SVP, CHRO 50.00 X 506044 0 49451 SHANE W HOYLE SVP/COO 50.00 X 471514 0 43108 CHAD C JAENKE SVP, CIO 50.00 X 493805 0 25155 ENGMAN GABRIEL I SVP, CFO 50.00 X 288246 0 20072 CHRISTOPHER MATTHEWS SVP, CARD SERVICES 50.00 X 397279 0 19904 CARMEN M TAPANES VP RETAIL SERVICES 50.00 X 301749 0 14699 GREGORY E DEROY VP, MEMBER SVC CENTER 50.00 X 358907 0 12325 KIMBERLY TYREE VP CONSUMER SALES 50.00 X 267895 0 28428 DANIEL CHIAPPONE VP LENDING 50.00 X 301298 0 28103 ANN M ROBERTS VP PMNT/LOSS PREVENTION 50.00 X 269506 0 45690 BEVERLY B SMITH VP RETAIL SERVICES 50.00 X 250735 0 45467 ANTHONY M BLUNT VP CONSUMER SALES 50.00 X 241297 0 44370 BRYANT DANIEL G VP, MEMBER SERVICE CENTER 50.00 X 203949 0 41126 CANNING DAVID VP, OPERATIONAL EXCELLENC 50.00 X 230451 0 29085 FREEMAN ERIN E VP, OPERATIONS 50.00 X 206936 0 41579 KINLEY-SMITH JODIE R VP, PRODUCT LINE MANAGER 50.00 X 170785 0 26384 MATTESON ALLISON L VP, LEARNING/DEVELOPMENT 50.00 X 241938 0 47739 SNEAD BENJAMIN T VP, ENTERPRISE RISK MGMT 50.00 X 241219 0 48030 WICKARD TODD A VP, IT OPERATIONS 50.00 X 371478 0 26114 PETER S FREYSTAETTER EXPRESS MORT ORIGINATOR 40.00 X 316481 0 17097 TOMAS D ZAPATA JR EXPRESS MORT ORIGINATOR 40.00 X 287795 0 1152 TINA L CLARK EXPRESS MORT ORIGINATOR 40.00 X 300771 0 50470 PERRY KANEESHA S AVP, IT PROJECT DELIVERY 40.00 X 213556 0 40944 KATZ MICHAEL AVP, IT DEVELOPMENT 40.00 X 205198 0 32115 HILARY EISBRENNER EVP/CFO 50.00 X 348200 0 24839 HEATHER E HICKMAN EVP/CRO 50.00 X 484748 0 39690 9835554 0 964521 85 1 1 0 CU NEXTGEN CUSO LLC 4750 ASHWOOD DR BLUE ASH OH 45241 TECHNOLOGY AND SOFTWARE SOLUTIONS 1624108 SIMPLIFILE LLC 5072 NORTH 300 WEST PROVO UT 84604 RECORDING SERVICES 1332697 DEFENSESTORM CUSO LLC 1720 WINDWARD CONCOURSE SUITE 275 ALPHARETTA GA 30005 CYBERSECURITY 1134731 CO-OP MEMBER CENTER 9692 HAVEN AVENUE SUITE 300 RANCHO CUCAMONGA CA 91730 CREDIT UNION MEMBER SERVICE SOLUTIONS 1134009 WITTENBACH BUSINESS SYSTEMS INC 100 SPARKS VALLEY RD SPARKS GLENCOE MD 21152 FINANCIAL INSTITUTION, ELECTRONIC, PHSYS 760339 17 INCOME FROM LOANS 522100 329600865 329600865 FEES/CHARGES/OTHER 522100 79749282 79749282 NON-MEMBER ATM SURCHARGES 522100 583981 583981 409934128 33043121 33043121 20400 0 20400 20400 20400 195000136 197150979 47800 -2150843 -47800 -2198643 -2198643 440799006 409350147 583981 30864878 9334498 67906786 3099699 9378434 5011539 693156 460220 3525328 10880938 12647346 14322391 1102453 648770 121479734 8752958 1126156 PROVISION FOR LOAN LOSS 45326145 LOAN SERVICING 9782874 DEBIT AND CREDIT CARD E 9454847 LOSS ON SALE OF LOANS R 8327107 35140693 378402072 43856849 43043842 528644908 674887052 10230507 6366767 13627485 82994888 6954134178 7312427505 15060786 14872353 186130176 90070179 83473442 96059997 639174676 432496031 46372377 45850971 209408589 237056632 8543983797 8946056038 78407670 114397663 2845000 0 15138088 0 890000000 1140000000 6793238196 6859625125 7779628954 8114022788 X 0 0 0 0 764354843 832033250 764354843 832033250 8543983797 8946056038 X 62396934 19347869 -14066396 X X 0 1 X 1 0 47072 47072 47072 1 FL-CUPACLEAGUE OF SOUTHEASTERN CREDIT UNIONS 22 INVERNESS PARKWAY SUITE 200 BIRMINGHAM AL 35242 943458406 47072 PART I-A, LINE 1: THE CREDIT UNION DONATED FUNDS TO THE FLORIDA CREDIT UNION POLITICAL ACTION COMMITTEE (FL-CUPAC). 0 1 X 27253319 27253319 70363770 26106169 44257601 18138303 14088985 4049318 70374784 49875025 20499759 96059997 MEMBER DEPOSITS 6542000887 INTEREST PAYABLE 10860285 OPERATING LEASE LIABILITIES 34295953 NON-MEMBER DEPOSITS 272468000 6859625125 X 442997649 0 442997649 -2198643 -2198643 440799006 380600715 2198643 2198643 378402072 0 378402072 PART IV, LINE 2B: THE CREDIT UNION HOLDS ESCROWED FUNDS FOR THE PAYMENT OF PROPERTY TAXES AND HOMEOWNERS' INSURANCE AS A SERVICE TO OUR MEMBERS WHO HAVE MORTGAGES WITH THE CREDIT UNION OR HAVE MORTGAGES SERVICED BY THE CREDIT UNION. PART X, LINE 2: PROVISIONS OF FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ASC 740, INCOME TAXES, REQUIRE VALUATION OF UNCERTAINTY IN INCOME TAXES FOR POTENTIAL FINANCIAL STATEMENT DISCLOSURE. USING THAT GUIDANCE, TAX POSITIONS INITIALLY NEED TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS WHEN IT IS MORE-LIKELY-THAN-NOT THE POSITIONS WILL BE SUSTAINED UPON EXAMINATION BY THE TAX AUTHORITIES. SUCH TAX POSITIONS INITIALLY AND SUBSEQUENTLY NEED TO BE MEASURED AS THE LARGEST AMOUNT OF TAX BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT WITH THE TAX AUTHORITY ASSUMING FULL KNOWLEDGE OF THE POSITION AND RELEVANT FACTS. AS OF DECEMBER 31, 2023, 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 2020. PART XI, LINE 4B - OTHER ADJUSTMENTS: LOSS ON SALE OF INVESTMENTS -2,150,843. LOSS ON SALE OF ASSETS -47,800. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSS ON SALE OF INVESTMENTS 2,150,843. LOSS ON SALE OF ASSETS 47,800. X X X 1 1 X X X X 0 1 0 TIMOTHY M ANTONITION PRESIDENT/CEO 1027439 0 273000 0 93803 0 43200 0 43615 0 1481057 0 0 0 LINDA HART SVP, CHRO 377778 0 93231 0 35035 0 16669 0 32782 0 555495 0 0 0 HEATHER E HICKMAN EVP/CRO 0 0 93822 0 390926 0 8574 0 31116 0 524438 0 0 0 CHAD C JAENKE SVP, CIO 377159 0 112446 0 4200 0 14006 0 11149 0 518960 0 0 0 SHANE W HOYLE SVP/COO 368626 0 75517 0 27371 0 8765 0 34343 0 514622 0 0 0 GARY PRAGER SVP CHF STR&GWTH OFFICER 373960 0 67126 0 28446 0 14864 0 19706 0 504102 0 0 0 CHRISTOPHER MATTHEWS SVP, CARD SERVICES 291447 0 76939 0 28893 0 11441 0 8463 0 417183 0 0 0 WICKARD TODD A VP, IT OPERATIONS 350103 0 21375 0 0 0 5276 0 20838 0 397592 0 0 0 HILARY EISBRENNER EVP/CFO 68332 0 90768 0 189100 0 9904 0 14935 0 373039 0 0 0 GREGORY E DEROY VP, MEMBER SVC CENTER 81050 0 57828 0 220029 0 8383 0 3942 0 371232 0 0 0 TINA L CLARK EXPRESS MORT ORIGINATOR 191499 0 2521 0 106751 0 19066 0 31404 0 351241 0 0 0 PETER S FREYSTAETTER EXPRESS MORT ORIGINATOR 169294 0 2660 0 144527 0 6210 0 10887 0 333578 0 0 0 DANIEL CHIAPPONE VP LENDING 227914 0 63640 0 9744 0 17069 0 11034 0 329401 0 0 0 CARMEN M TAPANES VP RETAIL SERVICES 224823 0 53470 0 23456 0 12527 0 2172 0 316448 0 0 0 ANN M ROBERTS VP PMNT/LOSS PREVENTION 210857 0 58649 0 0 0 12665 0 33025 0 315196 0 0 0 ENGMAN GABRIEL I SVP, CFO 205984 0 80000 0 2262 0 10280 0 9792 0 308318 0 0 0 KIMBERLY TYREE VP CONSUMER SALES 216978 0 50917 0 0 0 7928 0 20500 0 296323 0 0 0 BEVERLY B SMITH VP RETAIL SERVICES 201373 0 35079 0 14283 0 11450 0 34017 0 296202 0 0 0 MATTESON ALLISON L VP, LEARNING/DEVELOPMENT 212715 0 29223 0 0 0 15288 0 32451 0 289677 0 0 0 SNEAD BENJAMIN T VP, ENTERPRISE RISK MGMT 204319 0 36900 0 0 0 14259 0 33771 0 289249 0 0 0 TOMAS D ZAPATA JR EXPRESS MORT ORIGINATOR 175969 0 2528 0 109298 0 0 0 1152 0 288947 0 0 0 ANTHONY M BLUNT VP CONSUMER SALES 205525 0 23379 0 12393 0 11847 0 32523 0 285667 0 0 0 CANNING DAVID VP, OPERATIONAL EXCELLENC 230451 0 0 0 0 0 10125 0 18960 0 259536 0 0 0 PERRY KANEESHA S AVP, IT PROJECT DELIVERY 213556 0 0 0 0 0 8343 0 32601 0 254500 0 0 0 FREEMAN ERIN E VP, OPERATIONS 180648 0 14690 0 11598 0 9633 0 31946 0 248515 0 0 0 BRYANT DANIEL G VP, MEMBER SERVICE CENTER 172130 0 12320 0 19499 0 9723 0 31403 0 245075 0 0 0 KATZ MICHAEL AVP, IT DEVELOPMENT 205198 0 0 0 0 0 0 0 32115 0 237313 0 0 0 KINLEY-SMITH JODIE R VP, PRODUCT LINE MANAGER 144885 0 18460 0 7440 0 14270 0 12114 0 197169 0 0 0 PART I, LINE 4B THE CREDIT UNION HAS ENTERED INTO SECURED SPLIT-DOLLAR LIFE INSURANCE ARRANGEMENTS WITH TIMOTHY M. ANTONITION, CEO/PRESIDENT, HEATHER E. HICKMAN, EVP/CRO, GARY PRAGER, SVP/CHIEF GROWTH OFFICER, SHANE HOYLE, SVP/COO, GABRIEL ENGMAN, SVP/CFO, LINDA HART, SVP/CHRO, AND CHAD JAENKE, SVP/CIO. THE PREMIUMS ON THE POLICIES WERE FUNDED BY THE CREDIT UNION THROUGH LOANS TO THE OFFICERS. INTEREST ACCRUES TO THE LOANS MONTHLY. THE CREDIT UNION PROVIDES A NON-QUALIFIED DEFERRED COMPENSATION PLAN UNDER CODE SECTION 457(F) FOR THE FOLLOWING SENIOR MANAGEMENT EMPLOYEES: JOSEPH LEWIS, EVP/CHIEF OPERATING OFFICER AND HILARY EISBRENNER, EVP/CHIEF FINANCIAL OFFICER. AS PART OF THE PLAN, THE CREDIT UNION PAYS A RETENTION BENEFIT TO EACH EMPLOYEE. BENEFITS ARE ALSO PAID IF EMPLOYMENT TERMINATES BEFORE THE RETENTION PERIOD IS MET UNDER SPECIFIED CIRCUMSTANCES. TIMOTHY M ANTONITION PRESIDENT/CEO TO PAY THE PREMIUMS OF COLLATERAL ASSIGNMENT SPLIT-DOLLAR LIFE INSURANCE X 11600000 31188000 0 1 1 HEATHER E HICKMAN EVP/CHIEF OF RETAIL DELIVERY TO PAY THE PREMIUMS OF COLLATERAL ASSIGNMENT SPLIT-DOLLAR LIFE INSURANCE X 2100000 2406888 0 1 1 GARY PRAGER SVP, CHF STR&GWTH OFFICER TO PAY THE PREMIUMS OF COLLATERAL ASSIGNMENT SPLIT-DOLLAR LIFE INSURANCE X 8000000 8000000 0 1 1 SHANE HOYLE SVP, COO TO PAY THE PREMIUMS OF COLLATERAL ASSIGNMENT SPLIT-DOLLAR LIFE INSURANCE X 10100000 10100000 0 1 1 GABE ENGMAN SVP, CFO TO PAY THE PREMIUMS OF COLLATERAL ASSIGNMENT SPLIT-DOLLAR LIFE INSURANCE X 9100000 9100000 0 1 1 LINDA HART SVP, CHRO TO PAY THE PREMIUMS OF COLLATERAL ASSIGNMENT SPLIT-DOLLAR LIFE INSURANCE X 10500000 10500000 0 1 1 CHAD JAENKE SVP, CIO TO PAY THE PREMIUMS OF COLLATERAL ASSIGNMENT SPLIT-DOLLAR LIFE INSURANCE X 11700000 11700000 0 1 1 82994888 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 BOARD MEMBERS SERVE THREE-YEAR TERMS AND THE TERM EXPIRATIONS ARE STAGGERED AMONGST THE BOARD MEMBERS. ANNUALLY, NOMINATIONS ARE CALLED FOR, AND A COMMITTEE OF THE BOARD IS APPOINTED TO REVIEW CANDIDATE QUALIFICATIONS. QUALIFIED CANDIDATES ARE INCLUDED ON THE SLATE OF CANDIDATES THAT WE PUBLISH TO OUR MEMBERS. EACH MEMBER GETS ONE VOTE AND THESE VOTES ARE TALLIED BY AN INDEPENDENT CPA FIRM. FORM 990, PART VI, SECTION A, LINE 7B THE ONLY DECISIONS THAT WOULD HAVE TO BE APPROVED BY MEMBERS WOULD BE A CHANGE IN OWNERSHIP OF THE CREDIT UNION, SUCH AS MERGING INTO ANOTHER CREDIT UNION OR CONVERTING TO ANOTHER TYPE OF CHARTER. SELLING MEMBER SHARES AND OTHER DEPOSIT RELATIONSHIPS TO ANOTHER ENTITY WOULD REQUIRE A VOTE BY THE MEMBERSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS NOT REVIEWED BY THE BOARD OF DIRECTORS BEFORE FILING. IT IS PREPARED BY EXTERNAL CPA'S AND REVIEWED BY THE SVP/CFO PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY IS PARTIALLY MONITORED VIA "FLAGGING" OF OFFICERS, DIRECTORS, AND KEY EMPLOYEE ACCOUNTS AND THE SUBSEQUENT INTERNAL AUDIT REVIEW OF ACTIVITY IN THOSE ACCOUNTS. FORM 990, PART VI, SECTION B, LINE 15 THE CEO'S COMPENSATION AND OTHER OFFICERS AND KEY EMPLOYEES' COMPENSATION HAVE BEEN DETERMINED THROUGH A COMBINATION OF THE HUMAN RESOURCE DEPARTMENT'S REVIEW OF CREDIT UNION AND BANKING INDUSTRY SALARY SURVEYS AND THE USE OF AN OUTSIDE COMPENSATION AND BENEFITS CONSULTANT. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION MAKES ITS FINANCIAL STATEMENTS AVAILABLE TO THE MEMBERSHIP UPON REQUEST. OUR FINANCIAL INFORMATION IS ALSO AVAILABLE IN A REGULATORY FORMAT AT THE NATIONAL CREDIT UNION ADMINISTRATION'S WEBSITE (WWW.NCUA.GOV). FORM 990, PART XI, LINE 9: PENSION LIABILITY ADJUSTMENT 552,619. CECL TRANSITION PROVISION -14,619,015. FORM 990, PART XII, FINANCIAL STATEMENTS AND REPORTING, LINE 2C: THE CREDIT UNION HAS AN AUDIT COMMITTEE CONSISTING OF FOUR MEMBER VOLUNTEERS WHO ASSUME THE RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF THE INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. 1500 E COMMERICAL BOULEVARD LLC 8045 N WICKHAM ROAD MELBOURNE FL 32940 814562170 REO MANAGEMENT FL 0 100