2024-05-14T11:19:58-05:00 2023-12-31 060903326 WHITTLESEY PC 280 TRUMBULL ST 24TH FL HARTFORD CT 06103 990 2023-01-01 050255222 WESTERLY COMMUNITY CREDIT UNION WEST 4015967000 4979 TOWER HILL ROAD WAKEFIELD RI 02879 ANDREW ROGERS SVP & COO 4015967000 2024-05-14 1 ANDREW ROGERS 999009999 1 THOMAS GOLDFUSS P01373588 8605223111 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z ANDREW ROGERS 4979 TOWER HILL ROAD WAKEFIELD RI 02879 33438714 0 X WWW.WESTERLYCCU.COM X CREDIT UNION 1948 RI PROVIDE HIGH QUALITY, LOW COST, FINANCIAL SERVICES TO IMPROVE THE FINANCIAL WELLBEING OF MEMBERS. 10 10 89 0 0 0 0 0 17532104 21166026 780295 541129 0 1178931 18312399 22886086 0 0 0 0 6783600 7287992 0 0 0 8054435 13937352 14838035 21225344 3474364 1660742 452757930 468681098 420996863 433036600 31761067 35644498 WESTERLY COMMUNITY CREDIT UNION IS MEMBER OWNED AND OPERATED. THE MISSION OF THE CREDIT UNION IS TO IMPROVE THE FINANCIAL WELLBEING OF ITS MEMBER OWNERS. IT DOES SO BY PROVIDING MEMBERS VALUE IN THE PRODUCT DELIVERED AND COMPASSIONATE AND CARING SERVICE. 0 0 MAINTENANCE OF MEMBERS' DEPOSIT ACCOUNT AND THE PAYMENT OF INTEREST AND DIVIDENDS. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 7003 0 89 1 0 0 0 0 0 0 0 0 X 10 10 0 0 0 0 1 1 1 1 1 0 1 1 1 1 0 1 0 1 1 1 0 X ANDREW ROGERS 4015967000 4979 TOWER HILL ROAD WAKEFIELD RI 02879 PETER STEFANSKI CHAIRPERSON 1.00 X X 14200 0 0 STEVEN SCALES VICE CHAIRPERSON 1.00 X X 10600 0 0 ROBERT DELANEY BOARD TREASURER 1.00 X X 10600 0 0 WILLIAM QUIRK BOARD SECRETARY 1.00 X X 10600 0 0 SHEILIA TERRANOVA-BEATTIE BOARD MEMBER 1.00 X 9400 0 0 SCOTT HAROLD BOARD MEMBER 1.00 X 9400 0 0 STEPHEN J IACOI BOARD MEMBER 1.00 X 9400 0 0 PAUL MARSIGLIO BOARD MEMBER 1.00 X 9100 0 0 JOSEPH RITACCO BOARD MEMBER 1.00 X 9400 0 0 DAWN SMITH BOARD MEMBER 1.00 X 9400 0 0 STEPHEN WHITE PRESIDENT & CEO 40.00 X 337551 0 41364 ANDREW ROGERS COO & SENIOR VP OF OPERATIONS 40.00 X 223488 0 11006 MARGARET SISCO CMO 40.00 X 194541 0 33693 ROBERT BOUCHER VP OF RETAIL LEADING 40.00 X 175663 0 21258 RICHARD CHAMP VP OF LENDING 40.00 X 154783 0 31928 1188126 0 139249 12 0 1 0 0 INTEREST INCOME ON LOANS 522100 18008604 18008604 MEMBER SERVICE FEES 522100 3157422 3157422 21166026 1021695 1021695 8789742 1282320 9280503 1272125 -490761 10195 -480566 -480566 EMPLOYEE RETENTION CREDIT 900099 1178931 1178931 1178931 22886086 22886086 0 0 1188126 4448419 334726 863313 453408 25333 153167 246103 902478 1799390 753005 819786 355008 5643569 1070291 PROVISION FOR LOAN LOSS 1115228 LOAN SERVICING EXP 864229 MISCELLANEOUS 189765 21225344 8900195 12737179 2319630 842407 1253320 1480735 357603596 370606682 32005725 16544994 16322386 15460731 58063942 57921781 8294861 9631583 452757930 468681098 5963578 5626364 13500000 19250000 401533285 408160236 420996863 433036600 X 0 0 0 0 31761067 35644498 31761067 35644498 452757930 468681098 X 1660742 2121332 101357 X X 0 1 X 1 0 3982563 3982563 19039315 9121296 9918019 658501 481227 177274 8325346 6942471 1382875 15460731 US GOVERNMENT AGENCY MORTGAGE BACKED 16969428 F CORPORATE BONDS 1200228 F US GOVERNMENT TREASURY AND AGENCY 36425725 F MARKETABLE CERTIFICATES OF DEPOSIT 2250000 F FHLB STOCK 1076400 C 57921781 MEMBERS' SHARE AND SAVINGS ACCTS 408160236 408160236 22886086 0 22886086 0 22886086 21225344 0 21225344 0 21225344 X 0 0 0 STEPHEN WHITE PRESIDENT & CEO 337551 0 0 0 0 0 0 0 41364 0 378915 0 0 0 ANDREW ROGERS COO & SENIOR VP OF OPERATIONS 223488 0 0 0 0 0 0 0 11006 0 234494 0 0 0 MARGARET SISCO CMO 194541 0 0 0 0 0 0 0 33693 0 228234 0 0 0 ROBERT BOUCHER VP OF RETAIL LEADING 175663 0 0 0 0 0 0 0 21258 0 196921 0 0 0 RICHARD CHAMP VP OF LENDING 154783 0 0 0 0 0 0 0 31928 0 186711 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS OWNED BY ITS MEMBER DEPOSITORS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS ELECT THE BOARD OF DIRECTORS AND RATIFY THEIR ACTIONS AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS MUST APPROVE MERGERS AT THE CREDIT UNION. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY MANAGEMENT PRIOR TO ITS FILING AND COPIES ARE PROVIDED TO THE BOARD OF DIRECTORS AT THE SUBSEQUENT MEETING. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION ANNUALLY REVIEWS THEIR CONFLICT OF INTEREST POLICY WITH DIRECTORS, OFFICERS AND KEY EMPLOYEES. FORM 990, PART VI, SECTION B, LINE 15 OFFICER SALARIES ARE APPROVED ANNUALLY BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES THESE FORMS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: NET CHANGE IN MINIMUM PENSION LIABILITY 608,178. CECL ADOPTION -506,821. PART XII LINE 2C NO CHANGES IN CURRENT YEAR.