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TIN:
SCHEDULE O
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ
Complete to provide information for responses to specific questions on
Form 990 or to provide any additional information.
Attach to Form 990 or 990-EZ.
Information about Schedule O (Form 990 or 990-EZ) and its instructions is atwww.irs.gov/form990.
OMB No. 1545-0047
2013
Open to Public
Inspection
Inspection
Name of the organization
SPACE COAST CREDIT UNION
Employer identification number
59-0746906
59-0746906
| Return Reference | Explanation |
|---|---|
| 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 11 | THE FORM 990 IS NOT REVIEWED BY THE BOARD OF DIRECTORS BEFORE FILING. IT IS PREPARED BY EXTERNAL CPA'S AND REVIEWED BY THE 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 IX, LINE 24E | MISC CHARGE OFFS: TOTAL EXPENSES 2,342,324. ATM EXPENSE: TOTAL EXPENSES 2,264,031. OTHER NONOPERATING EXPENSE: TOTAL EXPENSES 2,095,175. COLLECTION EXPENSE: TOTAL EXPENSES 1,976,273. STATEMENT EXPENSE: TOTAL EXPENSES 1,766,065. BILL PAYMENT EXPENSE: TOTAL EXPENSES 840,244. BANK SERVICE CHARGES: TOTAL EXPENSES 563,418. OREO PROPERTY EXPENSE: TOTAL EXPENSES 430,803. MISCELLANEOUS EXPENSE: TOTAL EXPENSES 354,987. STATE EXAM FEES: TOTAL EXPENSES 328,952. TRAINING & DEVELOPMENT: TOTAL EXPENSES 271,168. RECRUITING: TOTAL EXPENSES 228,595. DUES & SUBSCRIPTIONS: TOTAL EXPENSES 224,768. CUBS EXPENSE: TOTAL EXPENSES 158,476. MEMBER ACCOUNT EXPENSE: TOTAL EXPENSES 90,124. LOSS ON DISPOSAL OF FIXED ASSETS: TOTAL EXPENSES 47,740. CASH OVER/SHORT: TOTAL EXPENSES 33,081. |
| FORM 990, PART XI, LINE 9: | FASB ASC 715 PENSION LIABILITY ADJUSTMENT 7,604,698. |
| FORM 990, PART XII, LINE 2C: | THE CREDIT UNION DISSOLVED ITS CUSO IN 2012 AND THEREFORE THE 2013 FINANCIAL STATEMENTS WERE NOT PREPARED ON THE CONSOLIDATED BASIS. |
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2013
Additional Data
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