2018 Suncoast Credit Union Annual Report: Our Fantastic Future Starts Here

2018 Annual Report

tropeR launnA 8102

RUO ERUTUF

OUR FUTURE

EREH STRATS

STARTS HERE

6801 East Hillsborough Avenue P.O. Box 11904 Tampa, FL 33680

800.999.5887 | SuncoastCreditUnion.com

40

19151214-cvr.indd MA 00:9 91/12/3 40 1 19151214-txt.indd

1 ddn i.segnAM ahc 3/15/19 11:30

changes.indd 1

3/21/19 9:04 9:00 AM

starts here.

39 39

12

19151214-cvr.indd 2 changes.indd 2

3/19/19 8:33 AM

19151214-txt.indd 39

3/19/19 3/15/19 11:17 11:30 AM

your fantastıc starts here.

F U T U R E

From everyday moments to major milestones, Suncoast is here for

our members. As your needs change throughout each stage of your life, our products and services evolve with you. We help you live your best life with the financial services you need and advice you can trust.

In 2018, we continued to expand our offerings with new digital banking features, exciting partnerships and a robust suite of services to help members across all areas of their lives. We also volunteered for tens of thousands of hours, provided free financial literacy education and continued our philanthropic efforts to help local children. Everyone deserves a fantastic future and we’re here for you every step of the way.

1

changes.indd 1

3/18/19 3:57 PM

2

changes.indd 2

3/19/19 11:11 AM

THE TABLE OF CONTENTS Annual Report 2018

“Every person that joins Suncoast is another life we get to impact for the better.

By the end of 2018, we had nearly 64,000 new members” p. 16

Letter from the Chairman & President/CEO

4

Board of Directors

6

Supervisory Committee

7

The Financials

8

Fantastic Growth

16

Fantastic Community

20

Fantastic Employees

28

Fantastic Scholarship

32

Fantastic Commitment

34

Branch Locations

36

p. 30

p. 35

3

changes.indd 3

3/18/19 3:57 PM

LETTER FROM THE

Chaırman & Presıdent CEO It is our humble honor to be a part of the

employees and first responders. We provided $156,325,140 in loans with this program alone in 2018. Staying true to the

Suncoast Credit Union family. We’ve had

early mission of our founders, this helps those who are on the

an exciting year in 2018, none of which

ground, providing direct service to our community.

would be possible without each and every

Digital channels play an important role in enhancing our

one of you. Please allow us, on behalf of the

members’ experience. We continued to optimize our digital

entire board, senior staff and our whole

banking options in 2018, adding new enhancements to SunNet and SunMobile like Card Control, giving peace of mind for

Suncoast team, to express our gratitude

those members who want to protect their credit and debit

and thank you for being our member.

cards with the lock and unlock feature. Additionally, we

As partners in the credit union experience, our focus is to help

platform for buying used cars. Features such as these not

guide members to a deserving and stable financial foundation.

only provide added convenience, efficiency and security for

This past year, members received $71 million in total financial

our members, they also serve to help equip employees in

benefits over the course of a year, according to the CUNA

building exceptional relationships with our members. In order

Membership Benefits Report. That’s an average benefit of

to provide our members with the very best products and

$206 per household.

services, we need to make them aware of everything Suncoast

began a partnership with Carvana, the leading e-commerce

has to offer. We used our member relationship management In 2018, we brought forward the message that “Your fantastic future starts here” because we are committed to helping improve the financial lives of our members by understanding and helping you reach your goals and we believe this message helped inspire our healthy growth.

Along with overall membership growth, we achieved a record year in lending, originating $3.999 billion in new loans. Of special note, we helped 801 people buy a home with our Suncoast Community Heroes mortgage, a loan that helps community heroes like military, veterans, nurses, school

system and on-boarding strategies to introduce relevant products and services to members. We also added a memberfacing outreach team to proactively promote our products and services to the members who could benefit the most.

And we added business relationship officers and established a retail mortgage lending team to help engage members and perspective business members.

Strengthening our relationship with members goes beyond teaching them about what Suncoast has to offer. We also pride ourselves in providing excellent service and helping

4

changes.indd 4

3/18/19 3:57 PM

our members with whatever they need. Our Suncoast team

The Suncoast Credit Union Foundation also had a busy year of

members always bring their very best, as evidenced by our

giving back, donating a total of $3.3 million in 2018. More than

high scores in surveys from mystery shoppers. We received

500,000 children and young adults in our local communities

a 97% positive rating, outranking our industry peers by 2%.

benefited from these donations. This included $269,000 in

Our positive survey results and member feedback are a result

scholarships to local students.

of truly listening to the needs of our members. Our employees

Beyond scholarships, we impacted more than 11,000

are able to adapt to our members’ needs because we continue

college students, faculty and staff through financial literacy

to evolve our training programs to help employees thrive

workshops, campus outreach and special events. We also

at work. In 2018, we added new learning and development

added a new collegiate partner, South Florida State College.

courses, including a leadership development program.

It was a fantastic year for our members, our community and

Suncoast’s incredible team is the reason we were included

our Suncoast team. Our board of directors, leadership team

in the Top Place to Work rankings by the Tampa Bay Times.

and entire staff thank you for being a part of it.

We are proud to have ranked in the top 20 best places to work in 2018. Additionally, our team proudly opened an innovative new administrative building and added three new

We’re thrilled for all of the accomplishments we’ve achieved and everything the future has in store!

branches in 2018: Berkshire in Collier County, South Lakeland in Polk County and Trinity in Pasco County. In addition, we set ourselves up for a strong future by expanding our charter to 18 additional counties.

Our commitment to our members also extends to the communities we serve. Our amazing employees volunteered for more than 30,000 hours in 2018. We sponsored 378 community events and became the official credit union of the Florida Tropics Soccer Club. We expanded our partnership

Anthony D. Satchel

Chairman, Board of Directors

Kevin Johnson

President and CEO

with Seniors in Service and added a new relationship Operation Veteran Connect to help veterans, military personnel and their families.

5

changes.indd 5

3/19/19 8:12 AM

THE BOARD OF

dırectors

Back row left to right: Dr. Susan C. Turner; Velia Pedrero; Gary C. Gresham, Treasurer; Dr. Marc R. Johnson; Zamir L. Ode, Vice Chairman; Mildred Harvey; Manuel G. Lopez Front row left to right: Jounice L. Nealy-Brown, Secretary; Anthony D. Satchel, Chairman; Victor M. Arias; Andrea Falvey

6

changes.indd 6

3/18/19 3:57 PM

THE SUPERVISORY

commıttee

Pictured from left to right: Byron Whitman; Stephanie Mathews, Chairman; and Dr. Robert Jones The credit union operates under the laws of the

The committee engaged the certified public

United States of America and is a state chartered

accounting firm of Moss Adams LLP to perform an

financial institution, which is regulated by the Office

independent audit. In the opinion of the auditors, the

of Financial Regulation (OFR) for the State of Florida.

credit union’s complete set of financial statements,

Deposits are insured by the National Credit Union

which are not presented in the report, present fairly,

Administration (NCUA), an agency of the federal

in all material respects, the financial position of the

government. Examiners of both the OFR and NCUA

credit union as of December 31, 2018 and the results

make periodic examinations to ensure proper

of its operations and its cash flows for the year ended.

operation of the credit union.

Furthermore, the committee meets monthly and

The credit union’s Board of Directors appoints a Supervisory Committee responsible for safeguarding the credit union’s assets and protecting the interests of the members. In this capacity, we are pleased to present the 2018 report.

reviews the work performed by the Internal Audit Department in financial and operational areas of the credit union. Based on the above activities, it is the unanimous opinion of the Supervisory Committee that Suncoast Credit Union is financially solid and is being operated safely and soundly.

Stephanie Mathews, Chairman 7

changes.indd 7

3/18/19 3:57 PM

financıals THE 2018

Suncoast Credit Union finished 2018 with strong financial results – total assets of $9.3 billion, transfer to reserves of $101 million and total members of just over 811,000.

The main contributors to this high level of performance is Suncoast’s reputation, brand recognition and overall value proposition, in addition to the continued good economic conditions in Florida.

The loan portfolio in 2018 has again experienced double digit growth, with the auto loan portfolio continuing to increase faster than mortgages. Even with the Federal Reserve Bank raising their rates several times this year, we continued to give back to our members in many ways, including our low auto loan interest rates, which are below that of local competition. Additionally, Suncoast continues to improve the financial lives of our members with no or low fees on our financial products, as well as competitive rates on our deposit products. We continue to support the local communities throughout our footprint by volunteering, sponsoring events and funding educational programs.

As Suncoast approaches $10 Billion in assets, we are preparing to accelerate growth to counterbalance the impact of new regulatory and compliance requirements. To support this high volume of growth over the next decade, we are placing an emphasis on building infrastructure and capacity to scale operations, with a focus on technology and digital capabilities. As part of this multi-year plan, in 2018 we were able to provide upgraded payment and mobile initiatives, as well as evening and Saturday service hours through the Interactive Tellers. The Suncoast Board of Directors, management and staff remain committed to improving the lives of our members by strengthening the value of membership and expanding our reach to enrich the lives of even more people with the benefits of credit union membership.

8

changes.indd 8

3/18/19 3:57 PM

Where We Stand As of December 31

2018*

2017

Shares & Deposits

$7,978,279,070

$7,633,545,624

Loans

$7,376,648,890

$6,414,732,015

$933,084,657

$820,013,014

$9,338,109,124

$8,778,884,940

811,218

747,403

Reserves Assets Members *Unaudited and Unconsolidated

9

changes.indd 9

3/18/19 3:57 PM

Loans to Members, Net

2018

72%

78%

Investments

2% 4% 2%1%

19 %

2017 Cash & Cash Equivalents

Allocations

Property & Equipment, Net

Asset Allocation

2% 4% 2%1% Other Assets

2% 4% 2%1%

19 %

2017

13 %

72%

2018

2017

2%

72%

NCUA Share Insurance Fund

78%

2018 Loans to Members, Net Investments Cash & Cash Equivalents Property & Equipment, Net 2%

NCUA Share Insurance Fund

2017

Other Assets 2% 4% 2%1%

2018

13 %

2% 4% Liabilities & Members’ Equity Allocation 2%1%

2018

78%

19 %

2017 2017

Total Deposits

Borrowed2017 Funds 2% 4% 2%1%

Accounts Payable & Other Liabilities

19 %

2018

72%

Total Equity

2018

2017 Total Deposits

Borrowed Funds

10

19151214-txt.indd 10

Accounts Payable & Other Liabilities

72%

Total Equity

Assets

3/15/19 3:23 PM

Five Year Overview Assets

2018

Assets Total Deposits

Assets

$751

$882 $597

$519

$1,580

$1,389

$4,760

$4,098

$597

$519 $1,389

$1,580

$1,677

$1,668

$6,351

$5,512

$751

$882

$1,677

$1,668

$6,351

$831

Borrowed Funds

$7,301

Accounts Payable & Other Liabilities

$831 $1,206 $7,301

Loans Investments

$5,512

Other

Total Deposits

$4,760

Total Equity

$1,206

Equity

$4,098

Borrowed Funds Other

in Millions

liability

Liabilities & Members’ Equity $7,009 $5,992

2017

$5,202

$608

$531

$202

$201

2017

$5,992 $135

$72 2 $5,20

$608

$531

$202

$201

$135

$685 $252 $7,009 $116

liability $7,634 $756 $252 $7, $1634 37 $756

$685

$252

$252

$137

$116

$7,978 $858

liability

$402 $7,978 $100 $858

$402

Lo

$100

In

O

Total Deposits Equity Borrowed Funds

$72

Other

in Millions

11 $831 19151214-txt.indd 11

$1,206

$751

3/15/19 3:23 PM

Five Year Overview

Transfer to Reserves

$100 $101

$88

In Millions

80

$73

$73

$61 60 2014

2015

2016

2017

2018

12

19151214-txt.indd 12

3/15/19 3:23 PM

Five Year Overview Member Growth

811,218

1,000,000

2014

2015

2016

747,403

698,185

640,487

600,000

611,784

800,000

2017

2018

13

19151214-txt.indd 13

3/15/19 3:23 PM

Statement of Operations INTEREST INCOME

2018

2017

$279,348,468

$234,492,408

25,197,055

24,528,511

$304,545,523

$259,020,919

Dividends to Members Cost of Borrowed Funds

$57,194,196 8,937,290

$55,692,172 9,138,562

TOTAL INTEREST EXPENSE

$66,131,486

$64,830,734

$238,414,037

$194,190,185

50,720,000

36,666,000

$187,694,037

$157,524,185

TOTAL SERVICE INCOME

$136,796,527

$118,036,901

TOTAL OPERATING EXPENSE

(223,564,251)

(203,113,463)

INCOME FROM OPERATIONS

$100,926,313

$72,447,622

29,296

691,578

$100,955,609

$73,139,200

Interest on Loans Interest on Investments TOTAL INTEREST INCOME INTEREST EXPENSE

Net Interest Income Provision for Loan Losses Net Interest Income after Provision for Loan Losses

Non-Operating Gains (Losses) TRANSFER TO RESERVES

14

19151214-txt.indd 14

3/15/19 3:23 PM

Comparative Balance Sheet ASSETS Cash and Cash Equivalents

12/31/2018 $395,538,360

12/31/2017 $321,674,648

Investments

1,206,545,052

1,677,273,512

Loans to Members Allowance for Loan Losses Loans to Members, Net

7,376,648,890 (75,642,086) 7,301,006,804

6,414,732,016 (63,725,463) 6,351,006,553

174,725,275

148,670,603

28,789,591

28,508,649

77,358,695 154,145,347 $9,338,109,124

72,387,668 179,363,307 $8,778,884,940

Total Deposits Borrowed Funds

$7,978,279,070 402,115,462

$7,633,545,624 252,033,249

Accounts Payable & Other Liabilities TOTAL LIABILITIES

100,272,021 $8,480,666,553

137,018,516 $8,022,597,389

$(4,621,041)

$(4,820,452)

Property and Equipment, Net Accrued Income NCUA Share Insurance Fund Other Assets TOTAL ASSETS LIABILITIES

MEMBERS’ EQUITY Accumulated Other Comprehensive Loss Regular Reserve & Undivided Earnings TOTAL MEMBERS’ EQUITY TOTAL LIABILITIES AND MEMBERS’ EQUITY

862,063,612

761,108,003

$857,442,571

$756,287,551

$9,338,109,124

$8,778,884,940

15

19151214-txt.indd 15

3/15/19 3:23 PM

FANTASTIC FUTURE FOR

our growth Our members’ needs are constantly evolving. To meet these needs, we must evolve and grow each year. Last year was exceptional for growth across the credit union.

Suncoast opened three new branches in 2018: Berkshire in Collier County, South Lakeland in Polk County and Trinity in Pasco County. We also made the first step toward an even brighter future by expanding our charter to 18 additional counties, making membership available to all those who live there.

Personalized service was a major focus in 2018. We offered our members technology, marketing and relationshipbuilding initiatives to help them discover the products and services that meet their specific needs.

Growth Across the Board Every person that joins Suncoast is another life we get to impact for the better. By the end of 2018, we had nearly 64,000 new members join Suncoast, bringing our total membership to 811,218 members.

Of special note we achieved a record year for loan origination in 2018, providing nearly $4 billion total in loans!

We also built upon the success of our existing First-Time Homebuyer and the Suncoast Community Heroes mortgage programs in 2018. It was incredible to provide 801 community heroes and 329 first-time home buyers with the mortgages they needed to buy their homes.

We offered new share certificates and limited time interest rate promotions on existing certificates to help our members maximize their savings. These efforts helped us with our deposit growth in 2018.

16

changes.indd 16

3/19/19 11:11 AM

As we grow, our commitment to offering members the best possible service remains.

In 2018, we were proud to receive a 97% from member feedback ratings, a score that is 2% higher than our industry peers.

Advances in Digital Banking and Technology To make sure our members have the future they deserve, it’s important for us to continue to offer digital features they need. Our team worked hard last year to enhance current features and introduce new ones to give members an exceptional experience across our mobile and online banking platforms.

We added or enhanced 15 digital banking features in 2018. Members can now request a payoff quote in SunNet and SunMobile and mark their recurring transfers as “favorites” to save time.

Many of our new features were designed to make members’ lives easier. We made it simple for them to switch all of their automatic payments and deposits to their Suncoast accounts with ClickSWITCH. We helped them save time in the branch with a new online check-in option. And, we launched Card Control, a new security feature that lets members temporarily lock or unlock their credit and debit cards to protect funds and help prevent unauthorized transactions.

While the digital banking upgrades gave members new features, we also made some behind the scenes advancements to help members in other ways. For example, we used a member relationship management system to introduce members to relevant products and services that they could benefit from.

We also used technology to improve efficiencies, investing in robotic process automation and intelligent automation. Automating certain tasks helps free up our employees to work on other projects. All of these improvements help us put our focus on what matters most: our members!

Enhancing Services for Business Members One of the reasons we saw such incredible lending growth in 2018 is because we enhanced our services for business members. Economic growth causes an increased need for low cost commercial loans for business owners. Our business relationship officers and retail mortgage lending team are available to serve those needs.

17

19151214-txt.indd 17

3/15/19 3:23 PM

These teams are active in the business community. The connections they make provide a deeper connection with current and prospective members and demonstrate that we provide personalized service every step of the way. We love to support local businesses!

Exciting New Features and Partnerships We understand that buying a home or car is so much more than just a purchase. In some cases it can be a major life decision that can be overwhelming. That’s why we’re here to make it easier for our members with more helpful features and buying options to choose from.

In 2018 we introduced an on-time closing guarantee to make home buying less stressful and provide additional confidence for our members when closing on the purchase of their new home. We meet the closing date or we’ll credit the member up to $1,000.

We also launched Six Month SafeLock for members who are purchasing a newly constructed home in a new home community.

Through this new mortgage offering members are protected against interest rate increases on their end home loan while the builder completes the construction. This locks in the rate for up to six months with no rate add-ons or lock-in fees. This gives members one less thing to think about because they can still take advantage of the lower rate if rates go down.

Car buyers have also benefited from new services launched in 2018. We teamed up with Carvana, the leading e-commerce platform for buying used cars to let members purchase a vehicle online in a matter of minutes from the comfort of home. This partnership is another example of how Suncoast is more than just a financial institution. We’re a full service experience.

18

19151214-txt.indd 18

3/21/19 9:12 AM

Font: Open Sans Light, Semibold PMS: Pantone 102C, 109C, 751C, 716C, 166C, 286C

SUNCOAST CREDIT UNION’S

Suite of Services & Partners Members

Insurance Center, LLC

Members

Insurance Center, LLC

19 19

changes.indd 19

3/19/19 11:11 AM

our communıty FANTASTIC FUTURE FOR

We wouldn’t exist without the communities we serve.

That’s why we do whatever we can to help our local communities thrive. In 2018, Suncoast provided sponsorships, philanthropy, educational programs and green energy initiatives to help the communities we serve: Pay It Forward Day 2018 Giving back is in our nature here, and Pay It Forward Day (PIFD) is the perfect example. In a single Saturday in October, 781 employees, friends and family volunteered 2,660 hours! This effort helped 75 organizations, projects and events in the community. Four employees won our PIFD social media contest and chose four local non-profits to receive $2,000. Our volunteering didn’t stop there, of course.

Suncoast employees volunteered for a total of 30,157 hours in 2018!

Suncoast Loves Local Sports Being a part of the community means supporting local sports teams, which is why we’re proud of our partnership with the Tampa Bay Rays. In 2018, we hosted 32 non-profit organizations in the Suncoast Community Suite at Tropicana Field where Suncoast employees had the opportunity to build and solidify relationships with staff and volunteers of many meaningful causes.

We also participated in Rays Fan Fest and the Coaches Clinic Little League Initiative. Plus we set up a table at 9 Rays games to get to know the fans and spread the word about our Suncoast Rays credit and debit cards.

We also introduced a new sports partnership in 2018 when we became the official credit union of the Florida Tropics Soccer Club. In addition to exposure to Tropics fans during the games, Suncoast Credit Union is also the title sponsor of G.O.A.L. (Growing

20

changes.indd 20

3/18/19 3:57 PM

4

grand opening events hosted

13

senior

33 title

advocacy events supported

event

sponsorships

378 events

41

Chambers of Commerce managed & supported

sponsored across 19 counties

changes.indd 21

3/18/19 3:57 PM

Outstanding Academic Leaders), an incentive program in the Polk County Schools.

The Tropics goal is to reward students who exceed in the classroom and recognize their achievements; to motivate students through incentives by offering exclusive Tropics experiences both in and out of the classroom, helping students and teachers strive for academic excellence.

Seniors in Service and Operation Veteran Connect In 2018, we expanded our partnership with Seniors in Service, an organization that connects volunteers aged 55 and over, to assist at-risk seniors, veterans and children in our community. We provided fundraising support, volunteer opportunities, participated in World Elder Abuse Awareness Day and offered fraud prevention training.

We were also invited to engage with veterans, military personnel and their families through a new program called Operation Veteran Connect. This program helps empower 600 veterans and military families to create comprehensive wellness plans that enable them to reach full potential. Suncoast had the opportunity to speak to veterans and military family members about financial literacy and products and services they can benefit from, like the Heroes mortgage.

K-12 Outreach In 2018, our Youth Outreach Team provided financial literary to more than 80 non-profit youth-oriented partners including Starting Right Now, Solita’s House and the Department of Children’s Services. We hosted Financial Football, a tournament that teaches high school students through interactive gameplay.

We use games like Bling-O to make it fun to learn financial literacy. And our teachings are always age-appropriate, so elementary students learned to be smart savers, middle school students learned how to budget through our Life Fast Forward simulation. High school freshman learned how to start saving for their senior year, while high school seniors learned how to use credit cards wisely.

Collegiate Outreach College is an important step in a student’s financial future.

That’s why Suncoast is dedicated to helping students prepare for financial success. In 2018, our Youth Outreach team impacted 11,129 college students, faculty and staff through financial literacy workshops, campus outreach and special events.

22

19151214-txt.indd 22

3/15/19 3:23 PM

2018 Youth Outreach by the Numbers

5,000+ students in 42 schools benefited from over 30 Suncoast volunteers during the Great American Teach-In

1,146 College Students participated in the First Year Experience

100 Schools

benefited from the Suncoast-sponsored EverFi financial literacy program

30 Students shadowed Suncoast during the Junior Achievement Groundhog Job Shadowing Day

23

19151214-txt.indd 23

3/15/19 3:23 PM

We worked with the First Year Experience programs at local colleges, reaching 573 students at Hillsborough Community College, 443 students at Florida Southwestern State College and 130 students at the University of Tampa. We also added a new collegiate partner in 2018, South Florida State College in Sebring.

We also held a special student session on financial literacy during HCC’s Black Brown College Bound signature event that brings together minority male college students from around the country. Our team reached nearly 500 attendees through the event’s three days.

Student Run Branches Our student run branches (SRBs) help students get handson experience in operating scaled down credit union branches and learning about how to save. In 2018, we operated 29 SRBs in nine counties within our footprint.

Students made more than 5,700 deposits into their savings accounts in 2018. We love to see so many young members starting their fantastic financial future with savings!

Our team continued to educate through school advisory board meetings, parent teacher association meetings, school conferences, math nights, open houses, career days and similar events through our student run branches. And our SRB high school student workers hosted lunch and learns to teach financial literacy to their peers with guidance from their SRB Coach, a Suncoast employee.

Suncoast Credit Union Foundation The Suncoast Credit Union Foundation’s mission is to promote the education, health and emotional well-being of children in our communities. And we’re proud to say that we had another rewarding year in 2018. Here is a small sample of some of the many meaningful programs funded by the Suncoast Credit Union Foundation in 2018.

Suncoast Credit Union

FOUNDATION

We partnered with Desoto Public Schools to help VSA Florida lead art learning experiences for students with

disabilities. The Foundation provided a $10,000 grant to fund 16 artist in residence programs, four each in DeSoto, Gilchrist, Hardee and Polk Counties. The residency 24

changes.indd 24

3/18/19 3:57 PM

2018 Foundation Giving &

Impact by the Numbers

$269,500

500,000 children

in college

scholarships

and students impacted

(total)

$3.3 million donated (total)

25

19151214-txt.indd 25

3/15/19 3:23 PM

Wheelchairs 4 Kids created many smiles for multiple families in 2018.

program contributes to student outcomes by providing learning experiences to increase their artistic skills and cognitive learning, as well as provide a venue for them to express themselves creatively in appropriate ways.

For the past 5 years, we’ve sponsored the Student Spaceflight program. In 2018, we continued this program to provide elementary and middle school students in Hillsborough County the opportunity to design and propose real science experiments to fly to the International Space Station. During the 2017-2018 school year, 4,200 students designed experiments constrained by microgravity. Limona Elementary’s Space Club students were the winners and had the opportunity to watch the launch on June 29.

Another exciting grant we provided in 2018 was $10,000 to Wheelchairs 4 Kids, an organization that provides wheelchairs, home and vehicle modifications and other therapeutic or assistive equipment at no charge to families in need. More than 400 children have benefited from this organization in the past seven years. Along with our grant, we were honored to treat Wheelchairs 4 Kids to a Rays game in our Suncoast Suite.

We were also proud to be part of the launch of GiGi’s Playhouse, an organization that provides no-cost educational programs to babies, children and adults with Down syndrome. Our grant funded a designated room for one-on-one math and literacy tutoring.

26

changes.indd 26

3/19/19 11:11 AM

Green Suncoast Green efforts can help make the future brighter for everyone, which is why we’re committed to making environmental improvements across our organization and in our local communities.

This past year, Suncoast continued our ongoing effort to support the Arbor Day Foundation. We donated $25,000 to plant trees in Florida forest to make our world cleaner and greener.

Suncoast also continued to keep our highways clean with Adopt-A-Road and AdoptA-Highway. Our employee volunteers hosted five cleanup locations. Since 2010, Suncoast employees volunteered for more than 500 hours doing road cleanup.

We continued to work hard at reducing our carbon footprint and balancing what we can’t reduce. In 2018, we remained carbon neutral and used 100% green energy with help from partners like the Hernando County Landfill Gas Project and Indian River County Landfill.

Suncoast hosted 11 free member Shred Days in 2018. This helps protect members from dangers like identity theft and helps the environment by recycling the shredded paper. The combination of our 2018 Shred Days and shredding in our Suncoast offices totaled over 1,000,000 lbs. of shredded paper recycled last year.

We even brought our green appreciation into the community last year. Suncoast employees participated in the USF Solar Fair, Hillsborough County Clean Air Fair and the Oldsmar Electric Car Show to promote environmental sustainability.

With the new addition of our solar-powered Admin II building, we’re proud to also have solar power in 14 Suncoast branches, the Member Care Center and the Fort Myers Southern Training Center. Half of Suncoast employees now work in solar-powered buildings!

27

changes.indd 27

3/19/19 11:11 AM

FANTASTIC FUTURE FOR

our employees Suncoast is an incredible place to work and it is all thanks to our relentlessly dedicated employees. Our team is focused, motivated and all-around amazing.

This passionate group of employees also deserves the very best for their own futures. That’s why in 2018 we continued our commitment ensuring the most engaged workforce with plenty of opportunities for employee growth.

Career Opportunities Suncoast knows that a fulfilling career is essential for a fantastic future. It’s how we provide for our families and grow our skills. That’s why we’re committed to providing our employees ongoing development opportunities, and career tracks to meet the needs of our member base.

Suncoast Credit Union added 86 brand new positions across 16 areas and increased the total employee base to 1,680.

The secret to the success of any organization is alignment. It’s important to ensure that every team member, from top to bottom, is working in the same direction. We restructured our individual employee development process and planning last year. We also established a more refined foundation for career pathing to maximize employee retention and help employees map out their futures at Suncoast.

Learning and Leadership Development Employee growth is more than just career options. We also invest in our employees by offering ongoing opportunities for professional development.

28

changes.indd 28

3/18/19 3:57 PM

In 2018, our Learning & Development team optimized all educational materials to make the courses more efficient, timely and focused. This also resulted in an increase in our course options, with a total of 17 “Core Principle” courses that focus on policy, procedure and best practices.

Our leadership development team was also busy in 2018, introducing a multi-year series of competency-based workshops designed to develop management skills across three key areas. Five new standalone leadership courses were also implemented this past year.

Accolades Suncoast employees are so proud of what they do, and with good reason!

Everything we do is aimed to give members the best possible experience. So we’re honored to receive recognition on national, state and local levels because it demonstrates how banking with Suncoast truly adds value to our members’ lives.

Here are some of the accolades that our team earned in 2018:

29

changes.indd 29

3/18/19 3:58 PM

Innovative Workplace One of our standout moments from 2018 was the grand opening of our brand new administration building for back office staff. Not only did the construction get completed on time and under budget, but it also includes many exciting features designed with our workforce needs in mind. The space provides opportunities for enhanced wellness, productivity and collaboration.

The new building is also another example of our commitment to green energy. It uses solar energy and has occupancy sensors for the lighting. The construction used low VOC materials, 100% recycled carpet and terrazzo floors with recycled glass. Moreover, trees that were removed to make way for the construction of this facility were repurposed and recycled into inspiring furniture, such as conference room tables.

30

19151214-txt.indd 30

3/15/19 3:23 PM

The administration building features electric car chargers, walking paths for wellness and a beautiful courtyard for employees to enjoy. The workspace is also designed to maximize collaboration and innovation with rooms created for ideation.

We cannot wait to see all the creativity that will come out of this space!

31

19151214-txt.indd 31

3/15/19 3:23 PM

A FANTASTIC FUTURE FOR

scholarshıp Huriel Perez is a lot of things. He’s a senior at the University of South Florida. He’s a future chemical engineer who wants to work with reaction vessels someday. And he’s a recipient of a 2015 Suncoast scholarship that helped him on his path to his bright future.

The Suncoast Credit Union Foundation exists to promote education, health and emotional well-being of children in our communities.

Through our scholarship programs, we’re proud to help local students pursue their educational goals.

Huriel was encouraged to apply for our scholarship by his college resource teacher at Plant City High School. Part of the application required an essay to describe why he deserved the scholarship. He explained that while he did well in school and had an above 6.0 GPA, that wasn’t what mattered most. His driving force was his family.

He lost his dad at a young age. His mom left her home in Mexico and emmigrated to the U.S. for a better life. As a first generation American and the first in his family to go to college, Huriel is a shining example of how hard work and a positive attitude can pay off.

Huriel’s Suncoast scholarship helped him maintain his high academic performance throughout his college education. Easing the financial burden allowed him to focus on his studies and work toward his goals.

And his scholarship even inspired a wonderful new goal for the future; creating a scholarship of his own someday.

“I want to make a scholarship,” he said. “Because it helped me, so I want to find a way to try to give back too.”

Suncoast is all about paying it forward, so we can’t wait to see Huriel reach his goal and continue the legacy of the Suncoast Credit Union Foundation.

32

changes.indd 32

3/18/19 3:58 PM

33

changes.indd 33

3/18/19 3:58 PM

A FANTASTIC FUTURE FOR

commıtment Suncoast team members have a shared vision to serve the community and improve the lives of our members. Our culture makes Suncoast a great place to work, which is why many of our employees build their long-term careers here.

Cindy Helton is a perfect example. She’s been with Suncoast for 43 years, making her our longest tenured employee. The way her career developed showcases Suncoast’s belief in developing our employees and promoting from within wherever we can.

She started at Suncoast as a student intern, then grew into positions like Member Services Representative, Checking Account Manager and Member Development Director. Her current role is the Executive Director of the Suncoast Credit Union Foundation.

“Suncoast gives employees the opportunity to broaden their skills and try new things professionally,” Cindy said.

As Cindy’s career evolved throughout the years, she’s impacted the lives of so many of our members and children in our community.

That’s the beauty of working at Suncoast, every single job role here offers the opportunity to help improve lives.

Our tight-knit team focuses on members, but also supports one another. Working here makes Cindy feel valued and respected. This feeling has remained consistent throughout her entire Suncoast career.

“The reason why I’m here is that people believed in me, mentored me,” Cindy said.

Just as Suncoast is committed to our members, we’re as committed to our employees and making this a great place for them to work!

34

changes.indd 34

3/18/19 3:58 PM

35

19151214-txt.indd 35

3/15/19 3:23 PM

BRANCH

locatıons Corporate Headquarters

Collier County

DeSoto County

Hillsborough County

Main Office

Berkshire Commons

Arcadia

Big Bend

6801 East Hillsborough Avenue

7211 Radio Road

1711 East Oak Street

13141 U.S. Highway 301 South

Tampa, FL 33610

Naples, FL 34104

Arcadia, FL 34266

Riverview, FL 33578

Business Services

Golden Gate

Hardee County

Brandon

950 West Fletcher Avenue

7465 Vanderbilt Beach Road

Wauchula

1370 Oakfield Drive

Tampa, FL 33612

Naples, FL 34119

1451 U.S. Highway 17 North

Brandon, FL 33511

Wauchula, FL 33873

Charlotte County

Immokalee

Citrus Park

Charlotte Harbor

1243 15th Street

Hendry County

8542 Gunn Highway

23141 Harborview Road

Immokalee, FL 34142

LaBelle

Odessa, FL 33556

231 East Hickpochee Avenue

Port Charlotte, FL 33980 Naples Horseshoe Port Charlotte

2728 Horseshoe Drive North

19501 Cochran Boulevard

Naples, FL 34104

Port Charlotte, FL 33948

LaBelle, FL 33935

East Tampa Community 1920 East Hillsborough Avenue

Hernando County

Tampa, FL 33610

Brooksville North Naples

18915 Cortez Boulevard

Fletcher

Punta Gorda

1035 Crosspointe Drive

Brooksville, FL 34601

950 West Fletcher Avenue

2310 Tamiami Trail

Naples, FL 34110

Punta Gorda, FL 33950

Citrus County Crystal River

Spring Hill Pine Ridge

4176 Mariner Boulevard

Hillsborough Avenue

3655 Pine Ridge Road

Spring Hill, FL 34609

6804 East Hillsborough Avenue

Naples, FL 34109

517 NE 5th Street Crystal River, FL 34429 Inverness

Tampa, FL 33612

Tampa, FL 33610 West Hernando

South Naples

3037 Commercial Way (U.S.19)

New Tampa

8797 Tamiami Trail East

Spring Hill, FL 34606

17505 North Palms Village

Naples, FL 34113

Tampa, FL 33647

2367 East Gulf to Lake Highway

Highlands County

Inverness, FL 34453

Sebring 6505 U.S. Highway 27 Sebring, FL 38870

36

changes.indd 36

3/18/19 3:58 PM

Plant City

West Tampa

Fort Myers - Matthew Drive

Levy County

1905 South Alexander Street

3300 North Armenia Avenue

1533 Matthew Drive

Chiefland

Plant City, FL 33566

Tampa, FL 33607

Fort Myers, FL 33907

Suwanee Plaza 2153 NW 11th Drive

Riverview

Lee County

Lee Boulevard

10405 Gibsonton Drive

Bonita Springs

5705 Lee Boulevard #7

Riverview, FL 33578

25183 Chamber of Commerce Drive

Lehigh Acres, FL 33971

Ruskin

Bonita Springs, FL 34135

Lehigh Acres

2615 57th Avenue West

226 Beth Stacey Boulevard

Bradenton, FL 34207

150 Teco Road Ruskin, FL 33570

Cape Coral - Del Prado

Seffner 901 West Dr. Martin Luther King Jr. Boulevard

Cape Coral - Santa Barbara

Seffner, FL 33584

2325 Santa Barbara Boulevard Cape Coral, FL 33991

South Tampa 2502 South Manhattan Avenue

College Parkway

Tampa, FL 33629

9131 College Parkway

Lehigh, FL 33936

Fort Myers, FL 33919

8201 West Waters Avenue Tampa, FL 33615

Fort Myers, FL 33905

3234 South Miller Road Valrico, FL 33596

North Fort Myers

8700 East State Road 70

565 Pine Island Road

Bradenton, FL 34202

Fort Myers, FL 33903 West Bradenton Riverdale

6367 Manatee Avenue West

14201 Palm Beach Boulevard

Bradenton, FL 34209

Pasco County San Carlos

Dade City

18011 South Tamiami Trail

12510 South Highway 301

Fort Myers, FL 33908

Dade City, FL 33525

SW Cape Coral

Holiday

1730 Cape Coral Parkway West

3422 U.S. Highway 19

Cape Coral, FL 33914

Holiday, FL 34691

East Fort Myers 4491 Underwood Drive

Valrico

East Bradenton

Fort Myers, FL 33905

Suite 135-140 Town ‘n Country

Manatee County Bradenton

5 Del Prado Boulevard South Cape Coral, FL 33990

Chiefland, FL 32626

Fort Myers - Daniels Parkway 13465 Daniels Commerce Blvd Fort Myers, FL 33966

Treeline Shoppes at Pelican Preserve

03

10580 Colonial Boulevard Fort Myers, FL 33913

37

19151214-txt.indd 37

3/15/19 3:23 PM

BRANCH

locatıons Pasco County (Continued)

South St. Petersburg

Land O’ Lakes

2120 - 34th Street South

1837 Collier Parkway

St. Petersburg, FL 33711

Lutz, FL 33549 St. Petersburg Satellite Port Richey

12003 - 28th Street North

7225 Ridge Road

St. Petersburg, FL 33716

Port Richey, FL 34668

Polk County Trinity

Lakeland

11370 State Road 54

919 Lakeland Park Center Drive

New Port Richey, FL 34655

Unit 360 Lakeland, FL 33809

Wiregrass 27213 State Road 56

South Lakeland

Wesley Chapel, FL 33544

6405 South Florida Avenue Lakeland, FL 33813

Zephyrhills 32745 Eiland Boulevard

Sarasota County

Zephyrhills, FL 33545

Bee Ridge 4402 Bee Ridge Road

Pinellas County

Sarasota, FL 34233

Countryside 26232 U.S. Highway 19 North

North Port

Clearwater, FL 33761

4451 Aidan Lane Suite 100 North Port, FL 34287

Downtown St. Petersburg 1010 Central Avenue St. Petersburg, FL 33705

Sumter County Bushnell 217 West Belt Avenue Bushnell, FL 33513

38

changes.indd 38

3/18/19 3:58 PM

starts here.

39 39

12

19151214-cvr.indd 2 changes.indd 2

3/19/19 8:33 AM

19151214-txt.indd 39

3/19/19 3/15/19 11:17 11:30 AM

2018 Annual Report

tropeR launnA 8102

RUO ERUTUF

OUR FUTURE

EREH STRATS

STARTS HERE

6801 East Hillsborough Avenue P.O. Box 11904 Tampa, FL 33680

800.999.5887 | SuncoastCreditUnion.com

40

19151214-cvr.indd MA 00:9 91/12/3 40 1 19151214-txt.indd

1 ddn i.segnAM ahc 3/15/19 11:30

changes.indd 1

3/21/19 9:04 9:00 AM