Midflorida Credit Union
501(c)(14)
100% goes to programs Strong reserves Growing revenue
Midflorida Credit Union is a 501(c)(14) organization based in Lakeland, Florida, registered in 1967, with $497,221,275 in FY2024 revenue. CharityIndex grades it B+, and it directs about 100% of spending to programs.
Po Box 8008, Lakeland, FL, 33802 EIN 59-6194363 Since 1967
Revenue (FY2024)
$497.2M
▲ 21.9% vs prior year
Expenses (FY2024)
$387.5M
Net assets
$834.1M
Employees
1,695
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B+
C+Program efficiency40% of the rating100% to programs
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Midflorida Credit Union: 100% to programs earns a C+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating26 mo reserves · +22% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Midflorida Credit Union: 26 mo reserves · +22% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Midflorida Credit Union: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Midflorida Credit Union: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
Midflorida credit union is committed to delivering personalized financial solutions while making banking simple, secure and convenient for all of our members.
What they do
Provide loans including mortgages, business, home equity, credit cards, share secured, vehicle, and line of credit loans with aggregate loan balances that approximated $6,348,857,000 as of december 31, 2024.
Contact & location
Financial trends
Revenue grew from $108.5M (FY2013) to $497.2M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $7.3BNet assets $834.1M
Operating margin
22.1%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$8.1B
Total liabilities
$7.3B
Net assets
$834.1M
Salaries & benefits
$116.2M
30% of expenses
Board members
11
11 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $497,221,275▲21.9% | $387,467,531▲25.9% | $834,064,632▲16.7% | $8,142,679,220▲8.2% | 990 |
| 2023 | $407,757,981▲30.5% | $307,709,900▲38.1% | $714,500,177▲15.1% | $7,523,425,888▲13.8% | 990 |
| 2022 | $312,549,911▲12.3% | $222,811,814▲31.4% | $620,786,777▲10.4% | $6,612,347,991▲9.3% | 990 |
| 2021 | $278,382,544▲9.6% | $169,567,552▼16.0% | $562,385,308▲24.2% | $6,049,933,825▲18.2% | 990 |
| 2020 | $253,930,280▲14.4% | $201,783,472▲26.5% | $452,785,274▲14.1% | $5,118,967,278▲15.8% | 990 |
| 2019 | $222,035,479▲19.2% | $159,512,531▲9.4% | $396,915,079▲20.9% | $4,422,009,998▲34.6% | 990 |
| 2018 | $186,228,628▲18.3% | $145,756,695▲19.7% | $328,262,930▲11.9% | $3,286,122,495▲7.5% | 990 |
| 2017 | $157,382,886▲14.7% | $121,799,345▲12.0% | $293,328,726▲15.9% | $3,055,514,301▲15.7% | 990 |
| 2016 | $137,179,057▲12.3% | $108,764,994▲10.5% | $253,169,499▲12.2% | $2,641,022,425▲10.0% | 990 |
| 2015 | $122,141,357▲4.1% | $98,418,192▲5.3% | $225,636,832▲12.0% | $2,400,405,607▲15.3% | 990 |
| 2014 | $117,364,837▲8.2% | $93,473,757▲6.4% | $201,504,505▲9.2% | $2,082,659,813▲7.6% | 990 |
| 2013 | $108,480,787 | $87,820,276▲3.5% | $184,555,787▲13.3% | $1,936,417,633▲6.3% | 990 |
| 2012 | — | $84,875,664▼0.9% | $162,819,535▲13.2% | $1,821,681,208▲14.0% | 990 |
| 2011 | — | $85,632,937▲8.6% | $143,835,397▲8.1% | $1,597,448,941▲5.1% | 990 |
| 2010 | — | $78,860,811 | $133,096,707 | $1,520,143,890 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Steve Moseley — $1,333,296 (0.34% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Steve Moseley | President/ceo | 40 | $1,333,296 |
| Zelda Abram | Evp/chief Financial Officer | 40 | $572,498 |
| Sterling Grubbs | Evp/chief Lending Officer | 40 | $571,731 |
| Christopher David | Evp/chief Operations Officer | 40 | $528,190 |
| Timothy Staley | Chief Commercial Lending | 40 | $428,260 |
| Michael Cheeseman | Chief Analytics Officer | 40 | $374,943 |
| Acie Forrer | Sw Florida Market President | 40 | $371,928 |
| Hugh Dailey | Ceo Southeast Trust/special Asset Manager | 34 | $368,659 |
| Jill Davis | Chief Marketing Officer | 40 | $365,017 |
| James Haggins | Chief of Collections | 40 | $356,805 |
| Vanessa Hernandez | Chief Retail Delivery | 40 | $327,643 |
| Timothy Lysak | Chief Information Officer | 40 | $325,618 |
| Cameron Brock | Svpii Commercial Relationship Officer | 40 | $314,749 |
| Lori Katz | Svpii Commercial Loan Administrator | 40 | $275,419 |
| David Boehling | Svp/private Client Officer | 40 | $250,930 |
| John Upperco | Board Memebr | 1 | $16,960 |
| Harry Williams | Board Member | 1 | $13,979 |
| Christopher Geiger | Board Chariperson | 1 | $12,623 |
| Dan Pierce | Board Secretary | 1 | $9,183 |
| Shirley Pellarchy | Board Member | 1 | $9,018 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Mediassociates | Marketing | $9,623,189 |
| Fiserv | Software | $4,065,538 |
| Cdw | Software | $3,108,812 |
| Seibold Security | Security/alarm | $1,955,905 |
| Springer Voss Construction Inc | Construction | $1,511,187 |
Grants made · $251K in FY2024
8 grants totaling $251K in FY2024. All grants made by Midflorida Credit Union →
| Recipient | Purpose | Amount |
|---|---|---|
| Polk Education Foundation and Business Partnership Inc | Providing financial resources for higher education. | $90,083 |
| Southeastern University Inc | Paying for college series. | $75,000 |
| Southeastern Credit Union Foundation Inc | Community development. | $20,000 |
| Florida Polytechnic University Foundation Inc | Presidential ambassadors program. | $20,000 |
| Polk Ecumenical Action Council For Empowerment Inc | Community development. | $15,000 |
| Highlands County Education Foundation Inc | Providing financial resources for higher education. | $13,500 |
| United Way of Central Florida Inc | 2024 day of caring event. | $10,000 |
| South Florida State College Foundation Inc | Help promote higher education. | $7,500 |
Frequently asked questions
- Is Midflorida Credit Union a legitimate nonprofit?
- Yes. Midflorida Credit Union is a 501(c)(14) organization registered with the U.S. Internal Revenue Service under EIN 59-6194363, based in Lakeland, Florida.
- What is Midflorida Credit Union's EIN?
- Midflorida Credit Union's Employer Identification Number (EIN) is 59-6194363.
- How much revenue does Midflorida Credit Union report?
- Midflorida Credit Union reported $497,221,275 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Midflorida Credit Union's spending goes to programs?
- Midflorida Credit Union spends about 100% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Midflorida Credit Union have?
- CharityIndex grades Midflorida Credit Union B+, based on program efficiency and fundraising cost.
- How much does Midflorida Credit Union's highest-paid employee make?
- The highest reported compensation on Midflorida Credit Union's latest Form 990 is $1,333,296, paid to Steve Moseley (President/ceo).
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Data for Midflorida Credit Union (EIN 59-6194363) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.