2018 annual report...organizations we helped this past year through our charity of the month...

2018 ANNUAL REPORT

1

Table of Contents

From the Chairman...........................................................

From the President............................................................

Supervisory Committee Report.........................................

Treasurer’s Report.................................................................

Statement of Financial Condition......................................

Statement of Income and Expense...................................

Graphs..............................................................................

Employee Recognition................................................

SunState in the Community.......................................

Volunteer Appreciation.......................................................

Around the Branches..........................................................

Board of Directors................................................................

Supervisory Committee & Management Team............

2-3

4-5

6

7

8

9

10-11

12-13

14-15

16

17

18

19

The National Credit Union Administration has added Hamilton, Lafayette, Suwannee, and Union Counties to the SunState Federal Credit Union field of membership. The SunState Federal Credit Union field of membership is:

Persons who live, work (or regularly conduct business in), worship, attend school, or participate in associations headquartered in the rural district of Alachua, Columbia, Dixie, Gilchrist, Hamilton, Lafayette, Levy, Suwannee, or Union Counties, Florida; persons participating in programs to alleviate poverty or distress which are located in the rural district of Alachua, Columbia, Dixie, Gilchrist, Hamilton, Lafayette, Levy, Suwannee, or Union Counties, Florida; incorporated and unincorporated organizations located in or maintaining a facility in the rural district of Alachua, Columbia, Dixie, Gilchrist, Hamilton, Lafayette, Levy, Suwannee, or Union Counties, Florida;

In this report, we share information and pictures from all of the counties SunState Federal Credit Union serves1.

County Page#A lachua . . . . . . . . . . . . . . . . . 2 -3C o l u m b i a . . . . . . . . . . . . . . . 4 - 5Dix ie . . . . . . . . . . . . . . . . . . . . . .6 -7Gi l ch r i s t . . . . . . . . . . . . . . . . . 8 -9H a m i l t o n . . . . . . . . . . . . 1 0 - 11L a f a y e t t e . . . . . . . . . . . 1 2 - 1 3Levy. . . . . . . . . . . . . . . . . . . 14 -15S u w a n n e e . . . . . . . . . 1 6 - 1 7Un ion . . . . . . . . . . . . . . . . . 18 -19

1Information in this report about individual counties was pulled from U.S. Census data, the internet, and other sources. While we are relatively certain the information is true and accurate, we have not exhaustively verified it as such. Readers are cautioned against stating the county specific information as being factual without further verification on their part.

Poe Springs State Park

Hippodrome State Theatre

La Chua Trail Gainesville- Hawthorne Trail Devils Millhopper Ben Hill Griffin Stadium

From the Chairman...

Cynthia S. BrochuChairman

Founded: February 29, 1824

Population: 266,944

Median Age: 31.3

Size: 969 square miles

Cities/Towns: Alachua, Archer

Gainesville, HawthorneHigh Springs, LaCrosse

Micanopy, NewberryWaldo

County Seat: Gainesville

Median Household Income: $45,478

Percent High School Graduate or Higher: 92.10%

Median Housing Value: $167,000

Total Housing Units: 115,282

Median Rent: $916

Households with a Computer: 89% Number of Companies: 20,110

Veterans: 15,456

Households with broadband internet subscription: 81.4%

32

• When Alachua County was created it stretched from the border with Georgia, south to Charlotte Harbor. The original county seat was Wanton (current day Micanopy).

• In 1828, the county seat was moved to Newnansville, located near the current site of the city of Alachua.

• In the late 1800s, the citrus industry thrived in the area. The great freeze of 1894 shut down the citrus industry in Alachua County; before that, six million barrels of fruit were shipped to market.

• Micanopy is the oldest inland town in Florida.

• By 1896, there were fourteen phosphate mines operating near Newberry. The demand for phosphate ended abruptly in 1914, when war was declared against Germany, their principal customer.

• Hawthorne was originally called Jamestown. Both names were in honor of James M. Hawthorne, a local land owner.

• Archer started in the 1840s, as a frontier village named Deer Hammock or Darden’s Hammock.

• High Springs was originally Orion, until the local post office changed its name in 1888.

As your board Chair, I couldn’t be happier as I look back over 2018 in regards to the accomplishments of our SunState Federal Credit Union; nor could I be more excited looking forward.

Topping the list as a huge accomplishment during 2018, was approval by the National Credit Union Administration of our field of membership expansion request. Unlike a bank with no specifically regulated limits on who they can serve or where they can choose geographically to do business, credit unions are limited by the federal government as to who can join and take advantage of membership. The definition of who is allowed to join a credit union is known as that particular credit union’s Field of Membership. Since the late 1990’s, the core field of membership of SunState Federal Credit Union has been people and entities (basically businesses/organizations) who live, work, worship, attend school, or regularly conduct business in Alachua, Columbia, Dixie, Gilchrist, or Levy County, Florida. The expansion request, approved in late 2018, adds Hamilton, Lafayette, Suwannee, and Union Counties to that list. We are excited to now offer SunState membership to those associated with these additional counties.

For 2019, we are currently planning for two new branches, one in Cross City, and the other in Live Oak. Cross City currently has no credit union branch from any credit union, while Live Oak currently has only one small credit union location, with that credit union serving a very limited group of members. The opening of these two branches will bring convenient credit union access to thousands of people in need of our affordable products and services.

In addition to those two physical branch locations, we will continue working to improve our online presence and online/mobile banking offerings. We realize that to stay relevant and to continue being a valuable resource for our members, it will take both the convenience of efficient and constantly improving online banking options/services, as well as a continued easy access to our representatives both by phone and in person.

Physical branches and improved technologies require significant capital expenditures…and that brings me to your credit union’s current financial state of well-being, SunState Federal Credit Union continues to excel financially to the extent that we were recognized nationally in 2018 on multiple levels. We earned a Raddon Financial Group Crystal Award due to our continued excellent financials balanced against our outstanding record of member service; basically, we were able to generate significant income, while providing our membership with excellent rates and a more affordable fee structure than most credit unions. Member growth, loan portfolio growth, and net income for 2018 were all outstanding. We also were recognized as ranking 30th among all credit unions worldwide in the number of followers/likes on our Facebook page.

I could not be prouder of our credit union, our board, our management team, and our staff. While many credit unions seem to have forgotten that a great balance sheet is not the only thing to strive for, SunState, YOUR SunState, has not. As you read through this report, you will see and understand that we are not just about money. We are about people and communities and making a difference every day.

At SunState Federal Credit Union, we make money not because that is our goal; but because we need it in order to make your lives, and the lives of others in the communities we serve, better.

From myself and the rest of the directors, thank you for electing us and allowing us to serve you as part of the outstanding institution and community resource that is SunState Federal Credit Union.

Osceola National Forest

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Joseph L. AkinsPresident/CEO

From the President...Founded: February 4, 1832

Population: 69,612

Median Age: 40.7


Cities/Towns: Lake CityFort WhiteBranford

County Seat: Lake City


Percent High School Graduate or Higher: 87%



Median Rent: $797

Number of Companies: 4,574

Veterans: 7,451

Households with a Computer: 85.5%

Households with broadband internet subscription: 73.1% Rum Island Park Ichetucknee Springs State ParkAlligator Lake

Olusteee Battlefield State Park

Lake City Columbia County Historical Museum

• Lake City first began as the town of Alligator in 1821, near the Seminole settlement known as Alligator Village.

• Alligator became the seat of Columbia County in 1832, when it was formed from portions of Duval and Alachua Counties.

• In 1858, Alligator was incorporated and renamed Lake City. The name was changed because the mayor’s wife, who had recently moved to the town, refused to hang her lace curtains in a town named Alligator.

• The largest American Civil War battle in Florida took place near Lake City, the Battle of Olustee, in 1864.

• The Blanche Hotel in Lake City is famous for housing the notorious mobster Al Capone.

• One of the four schools that formed the University of Florida was originally located in Lake City before consolidation to Gainesville in 1905.

Every year, as the holidays wind down and the new year kicks off, the SunState Federal Credit Union management team reflects back over our activities and successes, and yes, in some cases, setbacks, of the previous 12 months. This year is no different. Fortunately, for us as management of the credit union, and you as members, this has turned into a routinely pleasant experience year

after year. Throughout this report, you will read about our consistent and balanced growth, as well as our commitment to the communities we serve. As much of our advertising stated during 2018, when I hear people mention SunState Federal Credit Union, and when I look at myself in the mirror every morning preparing to come to work, I proudly tell myself, “SunState, that’s MY credit union”. I am proud, and you should be, too, of what our credit union represents.

Too often, success in the financial world is measured solely in black or red, dollars and cents. While our balance sheets certainly indicate SunState has been financially successful year after year, I am most proud of us because of our involvement in the community; the involvement not only of SunState as an institution, but the involvement of our employees and volunteers as individuals, too.

SunState in the Community is the title of pages 14 and 15 of this report. On those pages, you’ll read about our employee payroll deduction program and the thousands of dollars generated through that program for worthwhile causes right here in North Central Florida. You’ll see a list of charities/organizations we helped this past year through our Charity of the Month Facebook program. Our annual golf tournament fundraiser and our work at the Ronald McDonald House are specifically mentioned, as well. The truth

of the matter is that what you see on those pages barely scratches the surface of our community service in 2018.

As extensive as the credit union’s support of the many organizations helping out in our communities has been, and as proud as I am of our staff and volunteers in regards to that support, it is just a footnote, an add-on if you will, to our most important reason for being. That deepest purpose and obligation we feel towards the communities of North Central Florida, is our direct service to the thousands of men, women, and children who call themselves members; SunState Federal Credit Union Members. Myself and our entire staff, are proud to serve as a trusted partner and resource for your everyday financial dealings, trials and tribulations.

As the President and CEO of SunState Federal Credit Union, and on behalf of our entire staff, I am proud to thank you for the opportunity to try every day to make your life a little better. Without you, the members, each and every one of you, none of what we do could happen.

Enjoy the great news shared throughout this annual report; I hope it makes you as proud of our credit union as I am.

Shired Island Beach

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From the Treasurer...From the Supervisory Committee...

Louis FrostChairman, Supervisory Committee Calvin DeCoursey

Treasurer

Founded: April 25, 1921

Population: 16,084

Median Age: 46.3

Size: 875.2 square miles

Cities/Towns:Cross City, Old Town, Jena

Horseshoe Beach, Suwannee

County Seat: Cross City





Median Rent: $661

Number of Companies: 820

Veterans: 1,801



Nature Coast State TrailCity of HawkinsvilleLower Suwannee National

Wildlife Refuge Dixie County Cultural Center

• In April of 1818, General Andrew Jackson led the largest army ever to invade Florida to the Old Town area. Their mission was to push the Indians south of the Suwannee River in what is known as the “Battle of Old Town.” Jackson pursued Chief Billy Bowlegs through the woods and eventually met him in battle again along the Coast of Dixie County, at Bowlegs Point, near Jena. Bowlegs and his depleted forces were captured at the southern end of Big Rocky Creek. This campaign ended the Indian wars in this part of Florida. The area around Big Rocky Creek is associated with a story that pirate gold was buried there.

• Before becoming Cross City, the town was called Cross Roads, because it was the place where the Old Spanish Trail from Pensacola to St. Augustine crossed the Old Salt Road from Madisonville to Horseshoe Beach.

Horseshoe Beach

The Supervisory Committee engaged the services of a CPA firm experienced in the auditing of federally chartered credit unions to audit the financial statements and books of SunState Federal Credit Union and to express an opinion therein for the fiscal year ended on June 30, 2018. The auditor stated the financial statements present fairly all material aspects of the financial position of SunState Federal Credit Union as of June 30, 2018, and the results of its operations and cash flows were in conformity with the “Generally Accepted Accounting Principles” accepted in the United States of America. Based on the auditors opinion, the Supervisory Committee advises that SunState Federal Credit Union is in a fiscally sound position and is in conformity with NCUA financial requirements as of June 30, 2018.

Net membership increased 2,000 for a total membership of 35,755. Member share deposits grew $26.8 million reaching a total of $391.4 million. Asset growth is a direct result of member share growth and ended the year at

$445.2 million, an increase of $30.2 million.

Loan growth outpaced share growth for the first time in four years. A net growth of $45.5 million in loans resulted in a year-end total of $363.2 million. The increased loan demand was funded from investments, which decreased $15.6 million. Our loan to average shares ratio stood at 94.69%. Thus, for every $1 deposited by our members, 94 cents is loaned out to our members.

Our membership was paid $1.5 million in dividends, with rates increasing over the last year. Interest on loans and investments increased $1.9 million and provision for loan losses decreased $0.5 million. Non-interest income increased $0.7 million while non-interest expenses grew $1.5 million. Net income increased $856,043 year over year. Our net worth grew from 11.15% to 11.49%.

Total Shares2017 2018

$364,633,882 $391,463,357

Number of teller transactions

2017 2018

611,260 646,948

Mobile Deposits2017 2018

41,097 45,228

Number of Members2017 2018

33,755 35,755

98

Statement of Income & ExpenseStatement of Financial Condition

Founded: December 4, 1925

Population: 17,743

Median Age: 42.3


Cities/Towns:Bell

Fanning SpringsTrenton

County Seat: Trenton





Median Rent: $632


Veterans: 1,563


Households with broadband internet subscription: 62.50% Hart Springs Park

Fanning Springs

Santa Fe River Blue Springs State Park Ginnie Springs

Historic Train Depot

• There is only one traffic light in the entire county.

• Fanning Springs is one of only 3 towns in Florida to lie in more than one county.

• Gilchrist County was the last county organized in Florida.

• The popular story of how Gilchrist County came into being, concerns a bluff by citizens in the western part of Alachua County. The citizens in what was called “The West End” wanted a road from the Suwannee River at Fanning Springs to Gainesville, the county seat of Alachua County. When the County Commission refused to build the road, the citizens in the western part drew up plans for a new county and presented it to the Alachua County Commission.

• Bell was founded in the 1890s, named after a beauty contest winner, Bell Fletcher.

Auto Loan Portfolio2017 2018

$92,324,663 $111,310,434

Members Signed up for Bill Payment

2017 20189,222 10,671

eBanking Transactions

2017 2018

895,818 1,305,469

Number of Checks Processed

2017 2018660,157 621,053

Members receiving eStatements

2017 2018

14,713 17,007

ASSETS 2018 2017 Net Loans to Members 363,197,177$ 317,682,678$ Cash 3,428,231 3,743,874 Investments & Overnight Accounts 50,534,278 66,133,920 Fixed Assets, Net 15,541,082 16,173,659 Other Assets 12,556,348 11,295,683Total Assets 445,257,116$ 415,029,814$

LIABILITIES & EQUITY Other Liabil ities 4,111,589$ 5,603,705$ Member Shares 391,453,356 364,633,882 Reserves & Undivided Earnings 49,692,171 44,792,227Total Liabilities & Equity 445,257,116$ 415,029,814$

AS OF DECEMBER 31, 2018 AND 2017CONSOLIDATED STATEMENT OF FINANCIAL CONDITION

INTEREST INCOME 2018 2017 Interest on Loans 17,256,415$ 15,931,442$ Interest on Investments 1,918,156 1,300,038

19,174,571 17,231,480

INTEREST EXPENSE Dividends 1,466,759 1,001,402 Interest on Borrowed Funds 618,064 304,035

2,084,823 1,305,437

Net Interest Income 17,089,748 15,926,043

Provision for Loan Losses 1,657,193 2,125,442

Net Interest Income After Provision for Loan Losses 15,432,555 13,800,601

Non Interest Income 7,782,993 7,056,154 Non Interest Expense Compensation and Employee Benefits 9,743,485 8,802,510 Office Occupancy 1,148,154 1,102,828 Other Operating Expenses 7,425,117 6,962,630 Non Operating Gains(Losses) (38,023) 15,939

NET INCOME 4,860,769$ 4,004,726$

CONSOLIDATED STATEMENT OF INCOME & EXPENSEYEARS ENDED DECEMBER 31, 2018 AND 2017

SUNSTATE FEDERAL CREDIT UNION

10


Population: 14,799

Median Age: 40.9


Cities/Towns: Jasper

White SpringsJennings

County Seat: Jasper





Median Rent: $576


Veterans: 1,012



Alapaha RiverBig Shoals River RapidsMerging of the Suwanee &

Withlachoochee Rivers11

• It is the only county in Florida that doesn’t touch the rest of Florida. On the east and south it is bordered by the Suwannee River, and on the west it is bordered by the Withlachoochee River. To the north is the Georgia state line.

• “Upper Mineral Springs” later renamed, White Springs is the original tourist attraction in Florida. In the early 1800’s pioneers and settlers came to soak in the sulfur springs.

• Big Shoals is home to Florida’s largest white water rapids. When the water level on the Suwannee River is between 59 & 61 feet above mean sea level, the Big Shoals rapids earn a Class III Whitewater classification.

• Between 2000 & 2010 Hamilton County saw its population increase 155.4%.

• The junction of the Withlacoochee and Suwannee rivers was an important point of commerce. In the 1800s, both rivers were used as major commercial routes, and steamboats were a common sight as they carried passengers, freight and mail.

Spring HouseStephen Foster Memorial Hamilton County Court House

0

10,000

20,000

30,000

40,000

7,246

14,284

25,612 25,55829,983

33,755 35,755

Mill

ions

SunState Federal Credit UnionMEMBERS

$0

$100

$200

$300

$400

$500

$17.9$57.1

$110.8

$262.9

$340.3

$415.0$445.3

Mill

ions

SunState Federal Credit UnionASSETS

$0

$100

$200

$300

$400

$500

$11.7 $31.5$78.2

$187.1

$265.1$317.7

$363.2

Mill

ions

SunState Federal Credit UnionNET LOANS

$0

$100

$200

$300

$400

$16.6$51.3

$96.5

$235.1

$299.6

$364.6$391.5

Mill

ions

SunState Federal Credit UnionSHARES

Employees with 20 or more years of service

Devonne Jordan 22 years

Susan Blake 27 years

Regina Alexander 28 years

Barbara Estes 31 years

Cathy Ratliff 32 years

Dave Andrews23 years

Sharon Detweiler 26 years

Robert Hart26 years

12 13

Cassandra Davis 42 years

Julie Grant 35 years

Karen Tileston 38 years

Kathy Colson37 years

Tannia Weaver 8 yearsMichael Crane 8 yearsCaity Townsend 7 yearsTarrin Kirby 7 yearsRobert Bjork 7 yearsCarol Tucker 7 yearsRonda Feathers 7 yearsDeborah Adams 7 yearsJeri Anderson 7 yearsMary Dionne 7 yearsKathyann Murphy 6 yearsJosh Emerson 6 yearsJaime Benware 6 yearsKristin Brunson 6 yearsNancy Clark 6 yearsDiane Teague 6 yearsTom Barnard 6 yearsKristie Galpin 5 yearsLashawnda Bien-Aime 5 yearsMichael Duncan 5 yearsLyndsi Nahabetian 5 yearsDaryl Pressley 5 yearsJay Hogan 5 yearsWarren Doria 5 yearsErica Lopez 5 years

Lindy Edens 20 years

Toni Pratto-Sapp20 years


Population: 8,870

Median Age: 38.4


Cities/Towns: Mayo

County Seat: Mayo


Percent High School Graduateor Higher: 73.90%



Median Rent: $645


Veterans: 515



Name Years of Service (as of 12/31/18)

Keturah Campbell 19 yearsRichard Baldwin 18 yearsJarodanne Rentz 18 yearsChristy Ownbey 17 yearsSuzanne Friis 15 yearsJordan Hagan 15 yearsJan Pfaff 15 yearsSemerah Berkley 15 yearsKim Maxwell 14 yearsMia Parrish 13 yearsJenny Stewart-Orris 12 yearsBrandi Humphrey 11 yearsKimberly James 11 yearsTommy Smith 11 yearsJoe Akins 11 yearsKaren Strom 11 yearsKathy Anderson 10 yearsShaina Lodge 10 yearsAmber Baucom 9 yearsHeather Bennett 9 yearsTracy Cowart 9 yearsLin Jones 9 yearsChuck Smoak 9 years

Suwannee River Blue Springs State Park

Convict Springs Old Courthouse Peacock SpringsCounty Courthouse

• It is the second-least populous county in Florida.

• The famed Suwannee River forms the entire eastern boundary.

• The Hal W. Adams Bridge, built in 1947, across the Suwannee River 3 miles north of Mayo was Florida’s first suspension bridge.

• Mayo is currently Lafayette’s only incorporated town.

• In 1921, the lower part of the county was removed to create Dixie County.

• Lafayette County is a prohibition, or partially dry, county, allowing retail sales of beer only.

• In August 2018, Mayo temporarily changed its name to Miracle Whip as an advertising stunt with Kraft’s Miracle Whip brand.

Number of employees2017 2018

130 139

Nickels Given Back2017 2018

25,795,976 29,856,905

14 15

Founded: March 10, 1845

Population: 39,707

Median Age: 46.6

Size: 1,413 square miles

Cities/Towns:Cedar Key, Chiefland

Fanning Springs, Otter CreekWilliston, Yankeetown

Bronson, Inglis

County Seat: Bronson





Median Rent: $691


Veterans: 4,553



Cedar Key Museum State Park Blue Springs Bronson Speedway Devils Den Manatee Springs Cedar Key

• During July and August 1961, Elvis Presley spent his summer in Inglis and the surrounding areas filming his movie Follow That Dream.

• On March 1, 1861, the first train arrived in Cedar Key, just weeks before the Civil War began.

• During the 1880s, Cedar Key was one of the most important ports in Florida. Only Jacksonville, Pensacola, and Key West ranked ahead of it.

• Levyville was the original county seat of Levy County until the town was destroyed by fire in the late 1800’s. The county seat was then moved to Bronson.

• Evidence has been found in Cedar Key to suggest human occupation as far back as 500 BC.

• In 1896, a hurricane hit Cedar Key and wiped nearly everything away.

• Bronson was once called Chunky Pond.

• Fort Fanning was built in 1838 to guard a key crossing point of the Suwannee River and also served as a base of operations for U.S. Army troops fighting against Creek and Seminole warriors in the swamps of the Suwannee Valley.

2018 Charity of the Month

January - Newberry Elementary Safety PatrolsFebruary - Beauty HavenMarch - Carson Springs Wildlife SanctuaryApril - Project Downtown GainesvilleMay - StreetlightJune - Gentle Carousel Miniature Therapy Horses

Each month, charities are nominated on our Facebook page for the Charity of the Month program. The charity with the most votes wins $1,000. A randomly drawn charity that was entered also wins $500. If you know a deserving charity, see our Facebook page for complete rules and how to enter instructions. The winners for 2018 were:

Kathy Colson & Robert Hart present checks to Will Voelker of Noah’s Endeavor

The 14th Annual SunState Federal Credit Union Alachua County Scramble Championship was held at Ironwood Golf Course in Gainesville on December 1, 2018. A great time was had by all golfers and the 30+ volunteers who attended. With help from sponsors, golfers, and volunteers, we are proud to say that over $13,000 was raised for Noah’s Endeavor.N o a h ’ s Endeavor is

a local charity providing inclusive community recreation for children and young adults of all abilities. It offers free swimming lessons, bowling, soccer, basketball, paint & play, and dancing. Many participants in Noah’s Endeavor activities are affected by disabilities such as Cerebral Palsy, Autism Spectrum Disorders, Down Syndrome, deafness, blindness, and other developmental disorders.

A team from SunState served dinner at the Ronald McDonald House five times in 2018; including Christmas Eve.

SunState in the Community

July - UF Mobile Outreach ClinicAugust - Dream TeamSeptember - High Springs Community School PTSAOctober - Basketball CopNovember - Project MakeoverDecember - Kids Count in Alachua County

The Employees Jeans for Charity Drive raised a total of $8,976.00 in 2018. That amount was split between 4 charities voted on by SunState employees:

Peaceful Paths - Child Advocacy CenterVETSPACE - Military Support Group of Alachua County

The Payroll Deduction Program raised a total of $6,957.70 in 2018. As chosen by SunState employees:

Haven Hospice $3,196.50 - Food 4 Kids $1,991 - Children’s Miracle Network $1,770.20

SunState feeds the City of Alachua employees that are working the

fireworks event on the 4th of July.Facebook Fans2017 2018

31,041 32,000

16

Suwanee Springs Old Spring HouseLittle River Springs Suwanee County Court House

Royal Springs Anderson Spring The Dowling House

• Branford is known as the cave diving capitol of the world.

• The Suwannee River Greenway is a 14-mile asphalt rail-trail. This is a wonderful place to ride a bike, rollerblade, or walk. The trail goes from the intersection of US 129 & CR 248 to the Ichetucknee River at US 27/SR20. There are two trail-heads—one at Ivey Memorial Park and one in Branford.

• Suwannee County is bordered on the north, west and south by the Suwannee River. The extreme Southeast border is along the beautiful, clear Ichetucknee River.

• Stephen Foster chose the Suwannee River, which forms one of the boundaries of Suwannee County, for his song, “Old Folks at Home,” because he saw the name on a map and it sounded right with the melody he was already working on. Foster had never seen the river. “Old Folks at Home,” which contains the well-known lyric, “Way down upon the Suwannee River…”, has been the Florida State song since 1935.

1 7

Volunteer Appreciation

“WHEREAS, JOHN D. DISHONG, faithfully served for over 39 years of his life as a dedicated SunState Federal Credit Union Volunteer, during which he promoted the best interests of SUNSTATE FEDERAL CREDIT UNION and its members; and

WHEREAS, JOHN D. DISHONG, served with honorable character and integrity as a member of the Board of Directors for 34 years, its Chairman for 11 years, and as Vice Chairman for 2 years; and

Whereas, JOHN D. DISHONG, served on the Credit Committee for 6 years, its Chairman for 2 years, and on the Supervisory Committee for 1 year; and

WHEREAS, JOHN D. DISHONG, faithfully attended board meetings and strategic planning sessions, providing astute leadership and judicious counsel to fellow board members and senior management;

BE IT THEREFORE RESOLVED, that in recognition and sincere appreciation for his devoted and distinguished service, JOHN D. DISHONG, is hereby conferred the position, title and status of Volunteer of Distinction of SUNSTATE FEDERAL CREDIT UNION, this action taken and recorded in a special meeting of the Board of Directors of SunState Federal Credit Union on the nineteenth day of February two thousand nineteen.”

Cynthia Brochu, Board Chair JaneTaylor, Secretary

Around the Branches


Population: 43,653

Median Age: 41.9


Cities/Towns:Live OakBranfordWellborn

County Seat: Live Oak





Median Rent: $702


Veterans: 4,249



18

Founded: May 20, 1921

Population: 15,159

Median Age: 39.7


Cities/Towns: Raiford

Lake ButlerWorthington Springs

County Seat:Lake Butler





Median Rent: $616


Veterans: 1,810



19

Lake Butler Beach Chastain-Seay ParkHistorical MuseumLake Butler

Santa Fe River at Union/Alachua County Line

Union County Court House

• It is geographically the smallest county in Florida.

• Worthington Springs was named for early settler Sam Worthington, who arrived prior to the first Seminole War of 1814–1819.

• The mineral spring on the Santa Fe River was alleged to have medicinal benefits, attracting people from the late 1800s to the early 1900s. In the early years, swimming was segregated, with men and women assigned specific time intervals. In 1906, the new owner constructed a 12’×12’ concrete box around the spring to divert water into a 90’×50’ concrete pool with a wall dividing the bathing area into sections for men and women. The complex included a hotel, recreation hall and bathhouse for the spring pool.

• In the mid-twentieth century, the outflow from the spring declined, and then stopped flowing completely.

• Before becoming Union County it was part of St. Johns, Duval, Alachua, New River & Bradford Counties.

• It was originally supposed to be named New River County, to restore a name that had been lost in 1861 when New River was renamed Bradford.

2018 Board of Directors

Joe Akins - President/CEOTom Barnard - Senior VP of Lending

Suzanne Friis - Senior VP of OperationsDave Andrews - Vice President of IT

Richard Baldwin - Vice President of Human Resources Kelly Chesser - Vice President of FinanceRobert Hart - Vice President of Marketing

Management Team

John PowerDirector

Sharon PapciakDirector

Supervisory Committee

John Campen Director

David Nicholson Director

John D. Dishong, SrDirector

Calvin DeCourseyTreasurer

Patrick FitzgeraldVice-Chairman

Cynthia S. BrochuChairman

Jane TaylorSecretary

Louis FrostChairman

Annette JohnsonSecretary

Brenda Stormant Tresca Clemmons

Bill Conrad

Director EmeritusClifford A. Lyle Edmond T. DoughertyGeorgia P. Vickers

Director of DistinctionWilliam M. Knight, Jr.Marvis B. RobertsJay Friedman

Volunteer of DistinctionLee JohnsonLeonard LindseyJack F. GambleMarion HolderJ.C. WebbWilliam E. AustinJanet Larson William M. Knight, Jr.

1003 NW 22nd Court Chiefland • FL • 32626

(352) 490-5700

CHIEFLAND

405 SE 2nd Place Gainesville • FL • 32601

(352) 381-5200

GAINESVILLE MAIN

2516 NW 43rd Street Gainesville • FL • 32606

(352) 378-2125

43RD STREET

6305 SW Archer RdGainesville • FL • 32608

(352) 373-9334

ARCHER ROAD

LAKE CITY MAIN1605 West US Hwy 90 Lake City • FL • 32055

(386) 755-4097

14133 W Newberry Rd Newberry • FL • 32669

(352) 332-9090

JONESVILLE

V.A.G. MEDICAL CENTER1601 SW Archer Road

Gainesville • FL • 32608(352) 244-5242

L.C.V.A. MEDICAL CENTER619 S Marion Avenue Lake City • FL • 32025

(386) 752-7894

14520 NW US Highway 441 Alachua • FL • 32615

(386) 462-3900

ALACHUA

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6005 SE US Hwy 301, Unit 101Hawthorne • FL • 32640

(352) 381-5301

HAWTHORNE

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2018 annual report...organizations we helped this past year through our charity of the month...

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