2024-03-07T16:55:22-06:00 2022-12-31 390758449 WIPFLI LLP 30 LONG CREEK DRIVE SOUTH PORTLAND ME 041062437 990 2022-01-01 042391206 SHARON & CRESCENT UNITED CREDIT UNION SHAR 7817847725 30 POND ST SHARON MA 02067 JEREMY PARKER CFO AND TREASURER 7817847725 2024-03-07 1 JEREMY PARKER 999009999 0 JULIA HOWLAND CPA P01711658 2077745701 2023-11-07 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z GLENN PARSONS 30 POND ST SHARON MA 02067 39986184 0 X WWW.SCUCU.COM X 1956 MA TO PROVIDE A FULL RANGE OF FINANCIAL SERVICES TO OUR MEMBERS. 17 0 213 14 127807 0 0 0 38784603 36770599 2101908 3215585 0 0 40886511 39986184 117108 149865 3060767 1942514 14896723 15793625 0 0 0 14668492 14245699 32743090 32131703 8143421 7854481 1214608643 1236549386 1068791593 1100001377 145817050 136548009 X OUR MISSION IS TO PROVIDE A FULL RANGE OF FINANCIAL SERVICES TO THE MEMBERS IN OUR COMMUNITY AT COMPETITIVE RATES WHILE EMPHASIZING FINANCIAL SOUNDNESS, CONVENIENCE AND EFFICIENT-FRIENDLY SERVICE, WHILE MAINTAINING A CHALLENGING, REWARDING AND ENRICHING ENVIRONMENT FOR ALL EMPLOYEES. 0 0 SHARON CREDIT UNION IS A MEMBER-OWNED ORGANIZATION COMMITTED TO PROVIDING SUPERIOR FINANCIAL SERVICES TO ITS MEMBERS AND THE COMMUNITY. AT 12/31/2022, THE CREDIT UNION HAD 24,681 LOANS OUTSTANDING TOTALING $823,332,143. ALSO MEMBERS HAD 138,902 DEPOSITS ACCOUNTS TOTALING $1,018,215,241. ADDITIONALLY MEMBERS HAD 1,437 SAFE DEPOSIT BOXES. 0 0 0 0 0 0 0 1 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 12178 0 213 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 17 0 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X JEREMY PARKER 7817932804 30 POND STREET SHARON MA 02067 ALFRED NICCOLI DIRECTOR 2.00 X 6625 0 0 ANDREW MCCORMACK DIRECTOR 2.00 X 9490 0 0 ANNE CARNEY SECRETARY 2.00 X X 3948 0 0 ARTHUR SULLIVAN DIRECTOR 2.00 X 1284 0 0 CARL HUERTH DIRECTOR 2.00 X 5424 0 0 DAVID DOUCETTE VICE CHAIRMAN 2.00 X X 6350 0 0 DAVID GOODMAN DIRECTOR 2.00 X 8262 0 0 GLENN PARSONS PRESIDENT & CEO 40.00 X X 174036 0 9768 HOWARD SPILLER CHAIRMAN 2.00 X X 9490 0 0 JAMES L CARLSON PRESIDENT/CFO (THRU FEB 2023) 40.00 X X 667643 0 62886 JAMES MIHOS DIRECTOR 2.00 X 9666 0 0 JEREMY PARKER CFO & TREASURER 40.00 X X 152173 0 42976 JOHN KOLENTSAS DIRECTOR 2.00 X 7984 0 0 LAWRENCE GREEN DIRECTOR 2.00 X 7556 0 0 ROBERT W GUSTAFSON EXECUTIVE VP (THRU JUN 2022) 40.00 X X 295036 0 26401 RON BECHTEL DIRECTOR 2.00 X 5978 0 0 WILLIAM KEATING DIRECTOR 2.00 X 875 0 0 WILLIAM MCINTOSH DIRECTOR 2.00 X 2479 0 0 WILLIAM ROSA DIRECTOR 2.00 X 4649 0 0 LINDA FOUNTAIN CHIEF LENDING OFFICER 40.00 X 246462 0 46347 JENNIFER SPIECKER SVP - MARKETING 40.00 X 185909 0 26936 JOSHUA PARKER CIO 40.00 X 208041 0 13977 MARK HENNESSY SVP CONSUMER LENDING 40.00 X 168129 0 52691 MAUREEN GREGORY CHIEF RETAIL OFFICER 40.00 X 205033 0 31284 PAUL PIJANOWSKI SVP INFORMATION TECHNOLOGY 40.00 X 154820 0 53219 2547342 0 366485 21 0 1 0 JACK HENRY & ASSOC PO BOX 609 MONET MO 65708 CORE SYSTEM PROVIDER 919006 ALKAMI TECHNOLOGY PO BOX 122223 DALLAS TX 75312 ONLINE BANKING PROVIDER 825025 COX MEDIA 13229 COLLECTION CENTER DRIVE CHICAGO IL 60693 ADVERTISING 156044 ROBERT HALF MANAGEMENT RESOURCES 12400 COLLECTIONS CENTER DRIVE CHICAGO IL 60693 TEMP EMPLOYEES 142435 EFFECTV PO BOX 415949 BOSTON MA 022415949 ADVERTISING 117775 5 INTEREST ON LOANS 522100 30827946 30827946 FEE INCOME 524298 5942653 5814846 127807 36770599 3215585 3215585 39986184 36642792 127807 3215585 124865 25000 1942514 1743517 10121115 924299 2108746 895948 72342 185511 362082 689253 3973689 2938910 292485 620795 2181279 336007 PROVISION FOR LOAN LOSS 1403187 LOAN SERVICING EXPENSE 742603 OTHER OPERATING EXPENSE 447556 32131703 86067577 49270474 1410000 2580250 774088219 817493139 473388 362797 29653442 15941502 14137799 13711940 330117723 338371079 2509674 1585019 5804263 13174688 1214608643 1236549386 12007283 10784111 2705610 2589504 3106280 1054078700 1083521482 1068791593 1100001377 X 0 0 0 0 145817050 136548009 145817050 136548009 1214608643 1236549386 7854481 -17123522 0 X X 0 0 0 0 1 X 3736146 3736146 16389186 8263060 8126126 811851 558586 253265 8086469 7119856 966613 629790 629790 13711940 FEDERAL AGENCIES 295868482 C OTHER INVESTMENTS 42502597 C 338371079 DEPOSITS 1015108961 FHLB BORROWINGS 68412521 1083521482 PART IV, LINE 2B: THE ORGANIZATION HOLDS REAL ESTATE TAXES IN ESCROW FOR MORTGAGE BORROWERS. 1 BOYS & GIRLS CLUBS OF AMERICA 1275 PEACHTREE STREET NE ATLANTA GA 303093506 135562976 501(C)3 50000 0 CASH TO CONTINUE PROGRAMS AND SERVICES. SAMARITAN'S PURSE PO BOX 3000 BOONE NC 28607 581437002 501(C)3 10000 0 CASH TO CONTINUE PROGRAMS AND SERVICES 2 0 SCHOLARSHIPS 10 25000 X 1 1 X X X 0 0 0 JAMES L CARLSON PRESIDENT/CFO (THRU FEB 2023) 526186 0 136716 0 4741 0 37106 0 25780 0 730529 0 0 0 ROBERT W GUSTAFSON EXECUTIVE VP (THRU JUN 2022) 219526 0 7673 0 67837 0 19993 0 6408 0 321437 0 0 0 LINDA FOUNTAIN CHIEF LENDING OFFICER 222570 0 4371 0 19521 0 29161 0 17186 0 292809 0 0 0 MAUREEN GREGORY CHIEF RETAIL OFFICER 188615 0 4038 0 12380 0 16148 0 15136 0 236317 0 0 0 JOSHUA PARKER CIO 203251 0 3942 0 848 0 9969 0 4008 0 222018 0 0 0 MARK HENNESSY SVP CONSUMER LENDING 150085 0 3126 0 14918 0 17115 0 35576 0 220820 0 0 0 JENNIFER SPIECKER SVP - MARKETING 179754 0 3558 0 2597 0 22109 0 4827 0 212845 0 0 0 PAUL PIJANOWSKI SVP INFORMATION TECHNOLOGY 145891 0 3038 0 5891 0 16469 0 36750 0 208039 0 0 0 JEREMY PARKER CFO & TREASURER 137045 0 14519 0 609 0 9219 0 33757 0 195149 0 0 0 GLENN PARSONS PRESIDENT & CEO 161233 0 9615 0 3188 0 0 0 9768 0 183804 0 0 0 SEE PART V X 0 1 1 LINDA FOUNTAIN CHIEF LENDING OFFICER SPLIT DOLLAR INSURANCE AGREEMENT LOAN X 420831 420831 0 1 1 JAMES CARLSON PRESIDENT/CEO SPLIT DOLLAR INSURANCE AGREEMENT LOAN X 2159419 2159419 0 1 1 2580250 SCHEDULE L PART II, TRANSACTIONS WITH INTERESTED PERSONS SOME OF THE OFFICERS AND DIRECTORS HAVE LOANS OUTSTANDING WITH THE CREDIT UNION. THESE LOANS WERE OBTAINED IN THE NORMAL COURSE OF BUSINESS OF THE CREDIT UNION WITH TERMS THE SAME AS AVAILABLE TO ALL MEMBERS. THESE LOANS ARE NOT REQUIRED TO BE REPORTED ON SCHEDULE L PART II. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS A MEMBERS ONLY FINANCIAL INSTITUTION. ITS MEMBERS MEET ANNUALLY AND VOTE FOR A BOARD OF DIRECTORS AND ALL BUSINESS BROUGHT BEFORE THE MEMBERSHIP MUST BE APPROVED. FORM 990, PART VI, SECTION A, LINE 7A SEE ANSWER TO LINE 6. FORM 990, PART VI, SECTION A, LINE 7B SEE ANSWER TO LINE 6. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF DIRECTORS HAS DELEGATED AUTHORITY FOR THE REVIEW OF THE FORM 990 TO THE CHIEF FINANCIAL OFFICER (CFO). THE CFO ENGAGES THE SERVICES OF AN INDEPENDENT ACCOUNTING FORM FOR THE PREPARATION OF THE FORM 990. UPON COMPLETION, THE FORM 990, IS REVIEWED BY THE CFO, SIGNED BY THE CFO, AND FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR THE CODE OF ETHICS, WHICH INCORPORATES A CONFLICT OF INTEREST POLICY, IS UPDATED AND RATIFIED BY THE BOARD OF DIRECTORS. THE CODE OF ETHICS PERTAINS TO EMPLOYEES AS WELL AS THE BOARD OF DIRECTORS. ANNUALLY, ALL EMPLOYEES AND BOARD OF MEMBERS SIGN AN ACKNOWLEDGEMENT THAT THEY HAVE RECEIVED AND READ THE CODE OF ETHICS. FURTHER, ALL EMPLOYEES AND BOARD MEMBERS MUST IDENTIFY, IN WRITING, ALL DEPOSIT AND LOAN ACCOUNTS IN WHICH THEY HAVE A RELATED INTEREST. LOANS GRANTED TO SENIOR MANAGEMENT, DIRECTORS, OR THEIR RELATED PARTIES MUST BE APPROVED BY THE BOARD. IF THE LOAN IS FOR A BOARD MEMBER OR HIS/HER RELATED INTEREST, THE BOARD MEMBER MUST LEAVE THE BOARDROOM DURING DISCUSSION AND VOTE. THE BOARD MEMBER IS RECUSED FROM THE VOTE. FORM 990, PART VI, SECTION B, LINE 15 THE CREDIT UNION'S BOARD OF DIRECTORS ASSIGNS RESPONSIBILITY TO THE BOARD'S PERSONNEL COMMITTEE FOR INPUT IN THE PREPARATION OF A PERFORMANCE EVALUATION OF THE CREDIT UNION'S PRESIDENT. THE PERSONNEL COMMITTEE IS COMPRISED OF INDEPENDENT DIRECTORS. THE PERSONNEL COMMITTEE WILL THEN PRESENT THE EVALUATION TO THE FULL BOARD, ALONG WITH A RECOMMENDATION FOR COMPENSATION. THE COMPENSATION LEVEL IS BASED ON A COMBINATION OF THE PRESIDENT'S PERCEIVED VALUE TO THE CREDIT UNION; JOB PERFORMANCE; AND A COMPARISON TO A PEER GROUP SALARY SURVEY CONDUCTED BY PEARL MEYER & PARTNERS. BASED ON THE PERSONNEL COMMITTEE'S RECOMMENDATION, THE FULL BOARD APPROVES THE PRESIDENT'S COMPENSATION. FOR MEMBERS OF SENIOR MANAGEMENT (I.E. COO, SENIOR LENDING OFFICER, SENIOR BRANCH ADMINISTRATOR, CFO, SENIOR MARKETING OFFICER AND SENIOR INFORMATION OFFICER), WRITTEN PERFORMANCE EVALUATIONS ARE PREPARED BY THE IMMEDIATE SUPERVISOR AND REVIEWED BY THE BOARD'S PERSONNEL COMMITTEE. COMPENSATION IS BASED ON VALUE TO THE CREDIT UNION, JOB PERFORMANCE AND COMPARISON TO SALARY RANGES IN THE PEARL MEYER & PARTNERS SALARY SURVEY. THE PERSONNEL COMMITTEE THEN MAKES A RECOMMENDATION TO THE FULL BOARD FOR ITS APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S BY-LAWS, CODE OF ETHICS, CONFLICT OF INTEREST POLICY, ETC. ARE AVAILABLE FOR INSPECTION AT THE CREDIT UNION'S ANNUAL MEETING OR AVAILABLE AT ANYTIME UPON A MEMBER'S REQUEST. THE CREDIT UNION'S PRIVACY POLICY IS MAILED TO EACH MEMBER, ANNUALLY. A STATEMENT OF CONDITION IS POSTED IN EACH BRANCH EVERY MONTH. THE CREDIT UNION'S CALL REPORT DATA IS AVAILABLE TO THE GENERAL PUBLIC VIA THE NCUA'S WEBSITE.