Florida State University Credit Union

“The credit union is owned by its members.”

“The credit union's board of directors consists of 10 members. The board members are elected to vacant positions by the membership at the annual meeting each year. They are allowed to serve three three-year terms and then must leave the board for at least one year before being eligible to run again. Eligibility for membership in the credit union is limited to a field of persons composed of the following, including members of the immediate family thereof: 1. The faculty and staff of the florida state university; 2. Graduates who live and/or work in franklin, jefferson, liberty, leon, wakulla, and bay counties and students in good academic standing of the florida state university; 3. Members and employees of organizations which are part of the florida state university community; 4. Members and employees of businesses that do business with and/or have offices at the florida state university; 5. Employees and residents of the retirement facility located at 100 john knox road, tallahassee, fl 32303; 6. Employees of the credit union; 7. Individuals who live and/or work in leon, wakulla, gadsden, or taylor county; 8. Individuals who live and/or work in jackson, liberty, bay, gulf, franklin or calhoun county (limit of 2,000 new members per year); 9. Individuals who live and/or work in jefferson, washington, holmes, walton, okaloosa, santa rosa, or escambia county (limit of 2,500 new members per year); 10. Employees and retirees of gulf power and southern company; 11. All members of gpce credit union as of the effective date of the merger of gpce credit union into, and with, this credit union; 12. Employees of the florida department of transportation in the tallahassee area; 13. Employees of d.o.t. District 2, including those employees of d.o.t. For which their headquarters are located within the boundaries of the d.o.t. District 2; 14. Employees of d.o.t. District 5, deland, who were members of d.o.t. District 2 credit union prior to july 1, 1972; 15. State, county and city government employees in the district 2 area; 16. Any person providing contract employee services to the florida department of transportation in the tallahassee area or district 2 through adecco employment services, advanced system design, inc., barkley security agency, inc., computer aid, manpower, paul farmer system services, productivity group, softech alliance, inc. Or tri-state employment services, inc.; 17. Any person who lives, works, or worships in columbia county, florida, who does not otherwise qualify for credit union membership (up to 500 new members per calendar year pursuant to this subsection 17); and 18. Former employees of those groups as listed in subsections 12, 13, 14, 15 and 16 above.”

“Form 990 is prepared by our cpa and then reviewed by the president/ceo and cfo prior to filing with the irs.”

“Management is responsible for coordinating the continuing internal review of all compensation and for making sure that each job is evaluated and assigned a job grade and salary range. A biannual review of projected labor market wage/salary structure will be conducted. The projected labor market wage/salary structure changes will be considered to determine the wage/salary ranges for the following year. Salaries will be compared to those paid for similar work at other credit unions and organizations selected as a basis for comparison. Wage/salary midpoints will be established as closely as possible to reflect market consensus values. The competitive wage/salary philosophy and the organizational financial condition will be used to establish overall compensation ranges. Exempt positions will be compared against organizations in similar industries with heavy emphasis on associations and other organizations that provide services to credit unions. Non-exempt position salary levels will be based on a compilation of data from the relevant local markets. When new salary ranges are determined, employees below the minimum range of their range will be brought to the minimum on the effective date of the new ranges. Exceptions to bringing employees to the minimum range must be noted (i.e. Trainee) and every effort to bring these individuals to the minimum of the range should be made. The board negotiates a contract with the president based on the salary administration plan mentioned above. All other employees' salaries are based on a pay grade and comparables using compease for like institutions. The president gives final approval for employees.”

“Tax returns and other information are presented upon request. Form 990 can also be found on guidestar.org.”

“The current statement of financial condition is displayed in the lobby of each branch. This statement, as well as the income statement, are printed in the annual report, while summary data is presented in the quarterly newsletter. Other information is presented upon request.”

“Idrive lending investment loss -18,292. Rounding -2.”

“Champions first credit union has an annual audit conducted on a fiscal year basis at september 30th. Since the form 990 is filed on a calendar year basis, question 2b is answered no. A reconciliation between the two periods would not yield any useful information for federal purposes.”