Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: INTEREST ON LOANS

  total $25,269,990 · related or exempt $25,269,990

• 2b · Program service revenue: FEES/CHARGES/OTHER

  total $18,682,004 · related or exempt $18,682,004

• 2c · Program service revenue: FINANCE AND INSURANCE

  total $214,099 · unrelated business $214,099

• 3 · Investment income

  total $3,457,688 · related or exempt $3,457,688

• 6a · Gross rents

  real property $340,072

• 6b · Less rental expenses

  real property $144,413

• 6c · Rental income or loss

  real property $195,659

• 6d · Net rental income or loss

  total $195,659 · related or exempt $195,659

• 7a · Gross sales of assets other than inventory

  securities $20,310,085

• 7b · Less cost or other basis and sales expenses

  securities $22,568,248

• 7c · Gain or loss

  securities -$2,258,163

• 7d · Net gain or loss

  total -$2,258,163 · related or exempt -$2,258,163

• 11a · Other revenue: OTHER NON-OPERATING INCOME

  total $503,817 · related or exempt $503,817

• 11e · Other revenue, total

  $503,817

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $1,885,714

• 7 · Other salaries and wages

  total $9,857,236

• 9 · Other employee benefits

  total $2,267,487

• 10 · Payroll taxes

  total $948,372

• 11b · Fees: legal

  total $201,708

• 11c · Fees: accounting

  total $140,000

• 11f · Fees: investment management

  total $12,500

• 11g · Fees: other

  total $1,822,714

• 12 · Advertising and promotion

  total $1,131,829

• 13 · Office expenses

  total $1,136,676

• 14 · Information technology

  total $3,145,595

• 16 · Occupancy

  total $574,362

• 17 · Travel

  total $136,030

• 19 · Conferences, conventions and meetings

  total $110,448

• 20 · Interest

  total $2,432,970

• 21 · Payments to affiliates

  total $65,970

• 22 · Depreciation, depletion and amortization

  total $806,204

• 23 · Insurance

  total $197,274

• 24a · Other expenses: UBIT (FEDERAL AND STATE

  total $3,890

• 24b · Other expenses: VISA/DEBIT FEES/CHARGES

  total $3,980,986

• 24c · Other expenses: EQUIPMENT RENTAL/MAINTE

  total $3,349,633

• 24d · Other expenses: LOAN SERVICING

  total $2,175,751

• 24e · All other expenses

  total $5,088,270

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $12,469,823 · end of year $23,275,816

• 2 · Savings and temporary cash investments

  beginning of year $90,013,407 · end of year $44,372,784

• 4 · Accounts receivable

  beginning of year $10,055,354 · end of year $3,928,966

• 5 · Loans and receivables from officers and key people

  beginning of year $11,664,737 · end of year $11,881,336

• 7 · Other notes and loans receivable

  beginning of year $450,183,458 · end of year $523,658,858

• 9 · Prepaid expenses and deferred charges

  beginning of year $2,042,957 · end of year $1,934,508

• 10a · Land, buildings and equipment: cost or other basis

  $37,382,601

• 10b · Land, buildings and equipment: accumulated depreciation

  $13,575,004

• 10c · Land, buildings and equipment, net

  beginning of year $24,589,861 · end of year $23,807,597

• 11 · Investments: publicly traded securities

  beginning of year $164,430,377 · end of year $128,712,160

• 12 · Investments: other securities

  beginning of year $23,973,998 · end of year $15,498,239

• 14 · Intangible assets

  beginning of year $58,292

• 15 · Other assets

  beginning of year $25,789,322 · end of year $28,084,544

• 17 · Accounts payable and accrued expenses

  beginning of year $18,506,787 · end of year $21,729,289

• 24 · Unsecured notes and loans payable

  beginning of year $15,000,000 · end of year $15,000,000

• 25 · Other liabilities

  beginning of year $718,647,316 · end of year $716,528,841

• 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 $63,117,483 · end of year $51,896,678

The filer's explanations (Part III)

PART I, LINE 1A

THE ORGANIZATION DOES HAVE POLICIES IN PLACE FOR COMPANION TRAVEL AND SOCIAL CLUB DUES. NO POLICY FOR GROSS UP PAYMENTS.

PART I, LINE 4B

DARRY J WORRELL PARTICIPATES IN A SECURED SPLIT DOLLAR PROGRAM WHERE BY ECU LOANS THE OFFICER FUNDS FOR THE PURCHASE OF TWO LIFE INSURANCE POLICIES. THE FIRST POLICY IS KNOWN AS THE REPAYMENT POLICY AND IS DESIGNED TO REPAY THE CREDIT UNION THE AMOUNT OF THE LOAN PLUS INTEREST UPON THE DEATH OF THE INSURED. THE SECOND POLICY FOCUSES ON FUNDING THE EXECUTIVE LOANS TO SUPPLEMENT RETIREMENT INCOME. WILLIAM ENFINGER PARTICIPATES IN A SECURED SPLIT DOLLAR PROGRAM WHEREBY ECU LOANS THE OFFICER FUNDS FOR THE PURCHASE OF TWO LIFE INSURANCE POLICIES. THE FIRST POLICY IS KNOW AS THE REPAYMENT POLICY AND IS DESIGNED TO REPAY THE CREDIT UNION THE AMOUNT OF THE LOAN PLUS INTEREST UPON THE DEATH OF THE INSURED. THE SECOND POLICY FOCUSES ON FUNDING THE EXECUTIVE LOANS TO SUPPLEMENT RETIREMENT INCOME. THIS WAS AN EXISTING POLICY THAT WAS CONTINUED AFTER THE MERGER OF FOCUS CREDIT UNION, EFFECTIVE AS OF FEBRUARY 1, 2016. STEPHANIE STRAKER PARTICIPATES IN A SECURED SPLIT DOLLAR PROGRAM WHERE BY ECU LOANS THE OFFICER FUNDS FOR THE PURCHASE OF TWO LIFE INSURANCE POLICIES. THE FIRST POLICY IS KNOWN AS THE REPAYMENT POLICY AND IS DESIGNED TO REPAY THE CREDIT UNION THE AMOUNT OF THE LOAN PLUS INTEREST UPON THE DEATH OF THE INSURED. THE SECOND POLICY FOCUSES ON FUNDING THE EXECUTIVE LOANS TO SUPPLEMENT RETIREMENT INCOME.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• 1ST MEMBER INSURANCE GROUP

  INSURANCE & FINANCIAL PLAN · FL · income -$40,492 · assets $191,788

  Directly controlled by ENVISION CREDIT UNION

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

• IDRIVE LENDING LLC

  RELATED · INDIREDCT AUTO LENDING · FL · 33.4% owned · share of income $24,913 · share of assets $51,806

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• UNITED SOLUTIONS COMPANY

  C · CU SERVICES · FL · 78.81% owned · share of income $114,164 · share of assets $7,843,889