Form 990 for tax year 2025
Filed by STATE CHARTERED CREDIT UNIONS IN FLORIDA.
Totals
- Total revenue
- $15,986,867
- Total expenses
- $13,824,480
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $11,794,237
- Investment income
- $3,179,871
- Other revenue
- $1,012,759
- Total assets, end of year
- $283,072,801
- Total liabilities, end of year
- $252,173,874
- Net assets or fund balances, end of year
- $30,898,927
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $13,824,480
Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
2a · Program service revenue: Loan Interest Income
total $8,613,316 · related or exempt $8,613,316 · unrelated business $0 · excluded $0
-
2b · Program service revenue: Card Interchange Income
total $1,078,236 · related or exempt $1,078,236 · unrelated business $0 · excluded $0
-
2c · Program service revenue: Service Fee Income
total $1,895,489 · related or exempt $1,859,106 · unrelated business $36,383 · excluded $0
-
2f · All other program service revenue
total $207,196 · related or exempt $207,196 · unrelated business $0 · excluded $0
-
3 · Investment income
total $3,171,083 · related or exempt $3,171,083 · unrelated business $0 · excluded $0
-
4 · Income from investment of tax-exempt bond proceeds
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
5 · Royalties
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
6a · Gross rents
real property $100,670 · personal property $0
-
6b · Less rental expenses
real property $2,090 · personal property $0
-
6c · Rental income or loss
real property $98,580 · personal property $0
-
6d · Net rental income or loss
total $98,580 · related or exempt $98,580 · unrelated business $0 · excluded $0
-
7a · Gross sales of assets other than inventory
securities $0 · other assets $14,608
-
7b · Less cost or other basis and sales expenses
securities $0 · other assets $5,820
-
7c · Gain or loss
securities $0 · other assets $8,788
-
7d · Net gain or loss
total $8,788 · related or exempt $8,788 · unrelated business $0 · excluded $0
-
11a · Other revenue: Loans - merger related adjustment for FV
total $914,179 · related or exempt $914,179 · unrelated business $0 · excluded $0
-
11d · All other revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$914,179
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $899,839
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $3,174,970
-
8 · Pension plan contributions
total $263,238
-
9 · Other employee benefits
total $408,989
-
10 · Payroll taxes
total $287,084
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $81,790
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $315,306
-
13 · Office expenses
total $428,280
-
14 · Information technology
total $232,683
-
15 · Royalties
total $0
-
16 · Occupancy
total $513,295
-
17 · Travel
total $49,876
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $2,670,942
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $461,885
-
23 · Insurance
total $121,400
-
24a · Other expenses: State and Regulatory Fees
total $67,831
-
24b · Other expenses: Loan Provision and Other Losses
total $1,320,432
-
24c · Other expenses: Card and Shared Branch Proc Expenses
total $901,807
-
24d · Other expenses: Other Outside Processing Expenses
total $937,509
-
24e · All other expenses
total $687,324
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $3,580,253 · end of year $2,821,146
-
2 · Savings and temporary cash investments
beginning of year $14,159,606 · end of year $10,612,993
-
3 · Pledges and grants receivable
beginning of year $0 · end of year $0
-
4 · Accounts receivable
beginning of year $3,867,419 · end of year $7,453,124
-
5 · Loans and receivables from officers and key people
beginning of year $394,089 · end of year $428,425
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $160,222,960 · end of year $161,296,343
-
8 · Inventories for sale or use
beginning of year $0 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $220,503 · end of year $333,819
-
10a · Land, buildings and equipment: cost or other basis
$13,314,228
-
10b · Land, buildings and equipment: accumulated depreciation
$5,084,054
-
10c · Land, buildings and equipment, net
beginning of year $7,796,312 · end of year $8,230,174
-
11 · Investments: publicly traded securities
beginning of year $63,511,398 · end of year $69,121,957
-
12 · Investments: other securities
beginning of year $7,436,876 · end of year $4,832,567
-
13 · Investments: program-related
beginning of year $0 · end of year $0
-
14 · Intangible assets
beginning of year $7,811,786 · end of year $7,392,823
-
15 · Other assets
beginning of year $11,037,285 · end of year $10,549,430
-
17 · Accounts payable and accrued expenses
beginning of year $3,993,614 · end of year $2,017,008
-
18 · Grants payable
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $0 · end of year $0
-
20 · Tax-exempt bond liabilities
beginning of year $0 · end of year $0
-
21 · Escrow or custodial account liability
beginning of year $0 · end of year $0
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $0 · end of year $0
-
24 · Unsecured notes and loans payable
beginning of year $0 · end of year $0
-
25 · Other liabilities
beginning of year $249,783,443 · end of year $250,156,866
-
29 · Capital stock, trust principal or current funds
beginning of year $0 · end of year $0
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $0 · end of year $0
-
31 · Retained earnings, endowment or other funds
beginning of year $26,261,430 · end of year $30,898,927
Mission and programs · 2025
Mission
To provide low cost loans and other low cost financial services to members of Select Employee Groups.
Activities or mission (Part I)
To provide low cost financial services and loans to members of our Select Employee Groups (SEG)
-
The credit union granted 6,345 Loans totaling $51,680,356 and provided low cost services to 18,550 members.
Expenses $13,824,480 · Revenue $15,986,867
As filed on the 2025 return.
Listed in Part VII
-
Aaron Logue
President/CEO
- Total calculated
- $290,267
- From this org
- $258,930
- From related orgs
- $0
- Other
- $31,337
- Hours/week
- 40 + 40 related
Schedule J breakdown matched by us
- Base
- $250,360
- Bonus
- $0
- Other
- $0
- Deferred
- $15,801
- Nontaxable benefits
- $15,536
- Filer's total
- $281,697
-
Ricky Joshi
EVP, CFO
- Total calculated
- $199,029
- From this org
- $181,939
- From related orgs
- $0
- Other
- $17,090
- Hours/week
- 40 + 40 related
Schedule J breakdown matched by us
- Base
- $175,735
- Bonus
- $0
- Other
- $0
- Deferred
- $6,174
- Nontaxable benefits
- $10,916
- Filer's total
- $192,825
-
Cindy Pierce-Smith
EVP, COO
- Total calculated
- $168,422
- From this org
- $152,946
- From related orgs
- $0
- Other
- $15,476
- Hours/week
- 40 + 40 related
Schedule J breakdown matched by us
- Base
- $147,194
- Bonus
- $0
- Other
- $0
- Deferred
- $6,222
- Nontaxable benefits
- $9,253
- Filer's total
- $162,669
-
Jocelyn Jones
VP, Lending
- Total calculated
- $125,809
- From this org
- $113,316
- From related orgs
- $0
- Other
- $12,493
- Hours/week
- 40 + 40 related
-
Glenn Feaster
Information Technology Director
- Total calculated
- $116,312
- From this org
- $115,205
- From related orgs
- $0
- Other
- $1,107
- Hours/week
- 40 + 40 related
-
Camille Cossa
Board Chair
- Total calculated
- $0
- Hours/week
- 0
-
Dina Vickers
Board Vice Chair
- Total calculated
- $0
- Hours/week
- 0
-
Lawrence Schmitt
Board Treasurer
- Total calculated
- $0
- Hours/week
- 0
-
Mel Maycole
Board Secretary
- Total calculated
- $0
- Hours/week
- 0
-
Jason Griggs
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Jim Williams
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Mary McElroy
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
David Martin
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Joe Scott
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Charles Ford
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Lynette Clinch
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Jimmy Holderfield
Board Member
- Total calculated
- $0
- Hours/week
- 0
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2025
- Filed
- 19 March 2026
- IRS schema version
- 2025v4.0
- Source object
- 202601189349302100
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