2023-09-12T11:58:40-05:00 2022-12-31 825448715 SPINELLI CPA PC 146 WEST BOYLSTON DRIVE SUITE 302 WORCESTER MA 01606 990 2022-01-01 041680140 ALIGN CREDIT UNION ALIG 8009429575 40 MARKET STREET LOWELL MA 01852 KENNETH M DEL ROSSI PRESIDENT AND CEO 8009429575 2023-09-12 1 KENNETH DEL ROSSI 999009999 0 KAREN SPINELLI P00644492 5083656522 2023-09-07 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z KENNETH M DEL ROSSI 40 MARKET STREET LOWELL MA 01851 25157430 0 X WWW.ALIGNCU.ORG X CREDIT UNION 1922 MA THE CREDIT UNION ACCEPTS DEPOSITS AND GRANTS LOANS TO ITS MEMBERS. BENEFITS PAID ARE DIVIDENDS ON DEPOSIT ACCOUNTS AND GRANTING ACCESSIBLE CREDIT TO ITS MEMBERS. 11 10 174 0 61616 0 0 0 14663309 14524787 4975937 5692843 4554502 4216312 24193748 24433942 210933 99290 2997465 2665290 11663361 11723687 0 0 0 8911940 9535919 23783699 24024186 410049 409756 748085438 703539071 673453305 668201549 74632133 35337522 THE CREDIT UNION ACCEPT DEPOSITS AND GRANT LOANS TO ITS MEMBERS. BENEFIT PAID ARE DIVIDENDS ON DEPOSIT ACCOUNTS AND GRANTING ACCESSIBLE CREDIT TO ITS MEMBERS. 0 0 2665290 DIVIDENDS AND INTEREST PAID ON MEMBERS DEPOSITS. 12004042 GRANTING CREDIT TO MEMBERS WITH VARIOUS LOAN PRODUCTS. 213794 MEMBER SERVICES INCLUDING DEBIT AND CREDIT CARDS. 14883126 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 13845 0 1 174 1 1 1 0 0 0 0 0 1 0 X 11 10 0 0 0 0 1 1 1 1 1 0 0 0 0 1 1 1 1 0 MA X KENNETH M DEL ROSSI 8009429575 40 MARKET STREET LOWELL MA 01851 GEORGE R GAGAN CHAIRMAN 1.00 X 0 0 0 KAREN A MORRIS CLERK 1.00 X 0 0 0 STEVEN J BABBITT DIRECTOR 1.00 X 0 0 0 FRANK H LOSPENNATO TREASURER 1.00 X 0 0 0 DAVID R MORRIS VICE CHAIRMAN 1.00 X 0 0 0 RICHARD W PIECEWICZ 2ND VICE-CHAIRMAN 1.00 X 0 0 0 ALAN J SEXTON DIRECTOR 1.00 X 0 0 0 MARTIN E CONWAY DIRECTOR 1.00 X 0 0 0 JOSEPH FORSTER DIRECTOR 1.00 X 0 0 0 KATHLEEN E MCKENNEY DIRECTOR 1.00 X 0 0 0 KENNETH M DEL ROSSI PRESIDENT AND CEO 40.00 X X 1840349 0 149232 THOMAS HAMMOND CFO 40.00 X 283479 0 53121 JOANNE MCCARTHY SVP RETAIL & CHIEF RETENTI 40.00 X 166017 0 21077 LYDIA VAZQUEZ CHIEF LENDING OFFICER 40.00 X 163564 0 43644 MARYANN BEDARD SENIOR VP CONSUMER LENDING 40.00 X 139786 0 29220 JENNIFER HUSKA SVP CHIEF STRATEGY OFFICER 40.00 X 142775 0 31248 TODD CARON CIO 40.00 X 146228 0 40386 SANDRA LAMPLOUGH SVP OPERATIONS 40.00 X 128620 0 29537 MARK PALERMO SVP CHIEF INVESTMENT OFFIC 40.00 X 140307 0 41498 3151125 0 438963 9 0 1 0 FISERV INC 75 REMITTANCE DRIVE SUITE 6969 CHICAGO IL 606756969 FI TECHNOLOGY 1263868 VERNCO CENTRE LLC 70 WASHINGTON STREET SUITE 310 SALEM MA 01970 MANAGEMENT COMPANY 180690 RK FRAMINGHAM 50 CABOT STREET SUITE 200 NEEDHAM MA 02494 MANAGEMENT COMPANY 168173 COMPASS FACILITY SERVICES 65 JACKMAN STREET GEORGETOWN MA 01833 IT SERVICES 157701 WIPFLI LLP PO BOX 3160 MILWAUKEE WI 532013160 ACCOUNTING SERVICES 140007 5 INTEREST ON LOANS 522100 14524787 14524787 14524787 5834460 5834460 581871 723488 -141617 -141617 -141617 OTHER REVENUE 522100 2246559 2246559 ATM INTERCHANGE INC 522100 1298801 1298801 CREDIT CARD INTERCHANGE 522100 609336 609336 61616 61616 4216312 24433942 24513943 61616 -141617 99290 99290 2665290 2665290 2453409 329581 2123828 6393842 6393842 583379 390864 192515 1625470 1089065 536405 667587 447283 220304 3641 3641 763999 763999 1175221 1175221 15681 10506 5175 1010181 1010181 760999 760999 OTHER EXPENSES 3143286 3143286 SERVICE CONTRACT 1993544 1993544 ALL OTHER EXPENSES 239151 239151 ADVERTISING/MARKETING 215687 215687 214529 214529 24024186 14883126 9141060 0 18618775 7006688 44265483 11422260 344772102 382568688 18441026 10083227 9045022 8357799 317132396 277485689 2620600 2896400 11631060 13801547 748085438 703539071 866105 2348332 1774265 1782413 670812935 664070804 673453305 668201549 X 0 0 0 0 74632133 35337522 74632133 35337522 748085438 703539071 409756 -39704367 0 X X 0 1 X 1 0 0 1 X 2125000 2125000 10566927 5302244 5264683 939197 655208 283989 4809902 4125775 684127 8357799 OTHER LIABILITIES 3143125 BORROWINGS 62000000 MEMBERS' SHARE AND DEPOSIT ACCOUNTS 598927679 664070804 X 24433942 0 24433942 0 24433942 24024186 0 24024186 0 24024186 PART IV, LINE 2B: THE CREDIT UNION HOLDS FUNDS IN ESCROW TO PAY INSURANCE AND TAXES ON BEHALF OF ITS MORTGAGE LOAN ACCOUNTS. PART X, LINE 2: MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE CREDIT UNION AND HAS CONCLUDED THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. 0 BOYS & GIRLS CLUB OF GREATER LOWELL 657 MIDDLESEX STREET LOWELL MA 01851 042104396 501(C)(3) 15000 0 PROGRAM SUPPORT/LOCAL EVENT GREATER LOWELL YMCA 35 YMCA DRIVE LOWELL MA 01852 042104398 501(C)(3) 7500 0 PROGRAM SUPPORT MANOLIS FAMILY FOUNDATION INC 1067 LAKEVIEW AVENUE DRACUT MA 01826 262711036 501(C)(3) 11492 0 LOCAL COMMUNITY EVENT LOWELL MANAGEMENT GROUPLOWELL MEMORIAL AUDITORIUM 50 EAST MERRIMACK ST LOWELL MA 01852 10000 0 LOCAL COMMUNITY EVENT THE LOWELL PLAN 660 SUFFOLK ST SUITE 120 LOWELL MA 01854 042693109 501(C)(3) 22500 0 PROGRAM SUPPORT 1 X X X X 0 0 0 KENNETH M DEL ROSSI PRESIDENT AND CEO 489042 0 9405 0 1341902 0 30203 0 119029 0 1989581 0 0 0 THOMAS HAMMOND CFO 275479 0 5325 0 2675 0 22464 0 30657 0 336600 0 0 0 LYDIA VAZQUEZ CHIEF LENDING OFFICER 160212 0 2971 0 381 0 13054 0 30590 0 207208 0 0 0 JOANNE MCCARTHY SVP RETAIL & CHIEF RETENTI 160759 0 3050 0 2208 0 11466 0 9611 0 187094 0 0 0 TODD CARON CIO 143231 0 2773 0 224 0 11680 0 28706 0 186614 0 0 0 MARK PALERMO SVP CHIEF INVESTMENT OFFIC 137259 0 2674 0 374 0 11194 0 30304 0 181805 0 0 0 JENNIFER HUSKA SVP CHIEF STRATEGY OFFICER 139852 0 2674 0 249 0 11402 0 19846 0 174023 0 0 0 MARYANN BEDARD SENIOR VP CONSUMER LENDING 136051 0 2663 0 1072 0 11097 0 18123 0 169006 0 0 0 SANDRA LAMPLOUGH SVP OPERATIONS 123095 0 2448 0 3077 0 9970 0 19567 0 158157 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION HOLDS AN ANNUAL MEETING ACCORDING TO ITS BYLAWS WHERE ALL MEMBERS ARE GIVEN PROPER NOTIFICATION. THE BYLAWS CALL FOR THE ELECTION OF DIRECTORS WHOSE TERMS HAVE EXPIRED. FORM 990, PART VI, SECTION A, LINE 7B THE CREDIT UNION MEMBERS RATIFY DECISIONS OF THE GOVERNING BODY AT THEIR ANNUAL MEETING AND ELECT DIRECTORS AT THAT TIME. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION CONTRACTS WITH THEIR CPA FIRM TO PREPARE FORM 990. AFTER PREPARATION, A DRAFT COPY IS SENT TO THE PRESIDENT AND CEO AND THE CHIEF FINANCIAL OFFICER FOR REVIEW. ONCE APPROVED THE 990 IS FILED. A COPY OF THE 990 IS PROVIDED TO THE AUDIT COMMITEE AND THE FULL BOARD FOR THEIR REVIEW AND RATIFICATION AT THE MEETING FOLLOWING THE FILING OF THE FORM 990. FORM 990, PART VI, SECTION B, LINE 15 THE CREDIT UNION USES AN OUTSIDE FIRM THAT DOES COMPENSATION ANALYSIS. THE CONSULTING FIRM SURVEY ALL INDUSTRIES BOTH LOCALLY AND NATIONALLY AND PROVIDES THE CREDIT UNION WITH SALARY LEVEL RECOMMENDATIONS. THE CREDIT UNION'S BOARD OF DIRECTORS SPECIFICALLY SETS GOALS FOR THE CEO ANNUALLY AND HE IS THEN EVALUATED ON THESE GOALS AND OFFER SALARY WITHIN THE PROVIDED RANGES. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION MAKES THE DOCUMENT AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THE OVERSIGHT AND SELECTION PROCESS HAS NOT CHANGED FROM THE PRIOR TAX YEAR. INLIGN INSURANCE SERVICE LLC 40 MARKET STREET LOWELL MA 01851 852752732 INSURANCE SERVICES MA 49398 118267 ALIGN CREDIT UNION