Florida Credit Union

Organization Overview

Florida Credit Union is located in Gainesville, FL. The organization was established in 1970. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Florida Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.

For the year ending 12/2020, Florida Credit Union generated $94.3m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.1% each year . All expenses for the organization totaled $75.9m during the year ending 12/2020. While expenses have increased by 10.5% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2020

Describe the Organization's Mission:

Part 3 - Line 1

CREDIT UNION WITH INCOME FROM CREDIT UNION MEMBERSHIP AND FROM INVESTMENTS OF MEMBER FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICE TO ITS RESTRICTED MEMBERSHIP.

Describe the Organization's Program Activity:

Part 3 - Line 4a

INCOME FROM CREDIT UNION MEMBERSHIP AND FROM INVESTMENT OF MEMBERS FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICE TO ITS RESTRICTED MEMBERSHIP.


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Board, Officers & Key Employees

Name (title)Compensation
Mark Starr
President/ceo
$717,100
Thomas Beck
SVP Is/cto
$342,405
David Eckardt
SVP Operations/coo
$341,504
Christine Suarez-Jenkins
SVP Lending/clo
$330,673
Wendy Koford
SVP Finance/cfo
$291,792
Evan Pitts
SVP Of Commercial Lending
$267,692

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Sorenson Van Leuven Law Firm
Attorneys
$649,592
Williams Gautier Law Firm
Attorneys
$289,847
Service Master Maintenance System
Cleaning Services
$273,403
Family Recovery Services Llc
Repossesion Firm
$184,283
Hamilton Lock And Safe
Maintenance Of Equipment
$145,959
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$28,080,449
Investment income $67,399,899
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $17,080
Net Gain/Loss on Asset Sales -$1,196,447
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $94,300,981

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Florida Credit Union has recieved totaling $10,000.

Awarding OrganizationAmount
$10,000
View Grant Recipient Profile

Peer Organizations

Organization NameAssets
State Chartered Credit Unions In Florida
Jacksonville, FL
$554,973,970
Suncoast Credit Union
Tampa, FL
$553,636,360
Delta Community Credit Union
Atlanta, GA
$296,340,741
State Chartered Credit Unions In Florida
Melbourne, FL
$248,524,436
Midflorida Credit Union
Lakeland, FL
$278,382,544
Georgia's Own Credit Union
Atlanta, GA
$147,500,350
Fairwinds Credit Union
Orlando, FL
$164,616,807
Robins Financial Credit Union
Warner Robins, GA
$147,788,018
State Chartered Credit Unions In Florida
Jonesville, FL
$122,435,815
Florida Credit Union
Gainesville, FL
$94,300,981
Atlanta Postal Credit Union
Atlanta, GA
$86,141,254
Georgia United Credit Union
Duluth, GA
$80,835,681

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