ST ANNES CREDIT UNION OF FALL RIVER MASS: Form 990, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- ST ANNES CREDIT UNION OF FALL RIVER MASS (EIN 04-2128094)
- Tax period
- 2022-01-01 to 2022-12-31
- Filed
- 2023-10-26
- IRS object ID
- 202322999349300327
- Schema version
- 2022v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2023-10-26T10:13:42-05:00 | ReturnTs |
| Tax Period End | 2022-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 042689883 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WOLF & COMPANY PC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 255 STATE STREET | AddressLine1Txt |
| City | BOSTON | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02109 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2022-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 042128094 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ST ANNE'S CREDIT UNION FKA ST ANNE'S | BusinessNameLine1Txt |
| Business Name Line2 | CREDIT UNION OF FALL RIVER | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | STAN | BusinessNameControlTxt |
| Phone | 5083247300 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 286 OLIVER STREET | AddressLine1Txt |
| City | FALL RIVER | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 027242998 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | PETER PANAGGIO | PersonNm |
| Person Title | EVP/CFO | PersonTitleTxt |
| Phone | 5083247300 | PhoneNum |
| Signature | 2023-10-25 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | PETER | PersonFirstNm |
| Person Last | PANAGGIO | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 000003257 | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | HARRY A KALAJIAN JR CPA | PreparerPersonNm |
| PTIN | P00464296 | PTIN |
| Phone | 6174399700 | PhoneNum |
| Preparation | 2023-10-26 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Change | Yes (X) | NameChangeInd |
| Principal Officer | PETER PANAGGIO | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 286 OLIVER STREET | AddressLine1Txt |
| City | FALL RIVER | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 027242998 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $36,103,812 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | N/A | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1935 | FormationYr |
| Legal Domicile State | MA | LegalDomicileStateCd |
| Activity Or Mission | ST. ANNE'S CREDIT UNION (THE "CREDIT UNION") PROVIDES A VARIETY OF FINANCIAL SERVICES TO ITS MEMBERS THROUGH ITS FULL SERVICE OFFICES AND LOAN CENTERS IN SOUTHEASTERN MASSACHUSETTS. ITS PRIMARY DEPOSIT PRODUCTS ARE SAVINGS, CHECKING, MONEY MARKET, AND TERM CERTIFICATE ACCOUNTS AND ITS PRIMARY LENDING ASSETS ARE RESIDENTIAL MORTGAGE, COMMERCIAL MORTGAGE AND CONSUMER LOANS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 6 | VotingMembersIndependentCnt |
| Total Employee | 368 | TotalEmployeeCnt |
| Total Volunteers | 9 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $24,437,225 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $25,611,830 | CYProgramServiceRevenueAmt |
| PY Investment Income | $6,020,449 | PYInvestmentIncomeAmt |
| CY Investment Income | $5,804,084 | CYInvestmentIncomeAmt |
| PY Other Revenue | $4,408,184 | PYOtherRevenueAmt |
| CY Other Revenue | $4,687,898 | CYOtherRevenueAmt |
| PY Total Revenue | $34,865,858 | PYTotalRevenueAmt |
| CY Total Revenue | $36,103,812 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $155,458 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $146,165 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $11,643,166 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $12,049,470 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $19,051,358 | PYOtherExpensesAmt |
| CY Other Expenses | $17,403,865 | CYOtherExpensesAmt |
| PY Total Expenses | $30,849,982 | PYTotalExpensesAmt |
| CY Total Expenses | $29,599,500 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $4,015,876 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $6,504,312 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,266,762,131 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,151,715,010 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $1,157,312,534 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $1,045,188,919 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $109,449,597 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $106,526,091 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | ST. ANNE'S CREDIT UNION (THE "CREDIT UNION") PROVIDES A VARIETY OF FINANCIAL SERVICES TO ITS MEMBERS THROUGH ITS FULL SERVICE OFFICES AND LOAN CENTERS IN SOUTHEASTERN MASSACHUSETTS. ITS PRIMARY DEPOSIT PRODUCTS ARE SAVINGS, CHECKING, MONEY MARKET, AND TERM CERTIFICATE ACCOUNTS AND ITS PRIMARY LENDING ASSETS ARE RESIDENTIAL MORTGAGE, COMMERCIAL MORTGAGE AND CONSUMER LOANS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | ST. ANNE'S CREDIT UNION IS A COOPERATIVE OWNED, DIRECTED BY, AND DEDICATED TO ITS MEMBERS. AT THE END OF 2022, THE CREDIT UNION HAD $993 MILLION SHARE ACCOUNT DEPOSITS, $759 MILLION IN LOANS TO MEMBERS | Desc |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | Yes (1) | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | Yes (1) | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 30175 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 368 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 6 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | Yes (1) | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | 0 | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PETER PANAGGIO CFO | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 5083247478 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 286 OLIVER STREET | AddressLine1Txt |
| City | FALL RIVER | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 027242998 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (19 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd |
|---|---|---|---|---|---|---|---|---|---|
| BRUCE E FERNANDES | |||||||||
| DIRECTOR/TREASURER/CLERK | 1.00 | Yes (X) | Yes (X) | $6,330 | $0 | $4,561 | |||
| WILLIAM R BOUCHARD | |||||||||
| CHAIRMAN OF THE BOARD | 1.00 | Yes (X) | Yes (X) | $24,336 | $0 | $7,627 | |||
| KEVIN VIEIRA | |||||||||
| DIRECTOR | 1.00 | Yes (X) | $60 | $0 | $6,842 | ||||
| CLAIRE ENTEL | |||||||||
| DIRECTOR | 1.00 | Yes (X) | $396 | $0 | $5,555 | ||||
| COLLEEN BRADY | |||||||||
| DIRECTOR | 1.00 | Yes (X) | $258 | $0 | $7,234 | ||||
| JOHN R LEDWIDGE | |||||||||
| DIRECTOR/VICE CHAIRMAN | 1.00 | Yes (X) | Yes (X) | $21,619 | $0 | $7,627 | |||
| JO-ANN BENTLEY | |||||||||
| DIRECTOR | 1.00 | Yes (X) | $396 | $0 | $3,105 | ||||
| KEVIN C FITZPATRICK | |||||||||
| DIRECTOR | 1.00 | Yes (X) | $396 | $0 | $7,629 | ||||
| SIMONE L GARANT | |||||||||
| DIR/TREASURER/CLERK (ENDED 08/16/22) | 1.00 | Yes (X) | Yes (X) | $9,595 | $0 | $3,436 | |||
| BERNARD J MCDONALD III | |||||||||
| DIRECTOR | 1.00 | Yes (X) | $396 | $0 | $5,089 | ||||
| EILEEN DANAHEY | |||||||||
| PRESIDENT/CEO | 40.00 | Yes (X) | $505,938 | $0 | $17,951 | ||||
| PETER PANAGGIO | |||||||||
| EVP/CFO | 40.00 | $272,141 | $0 | $17,951 | Yes (X) | ||||
| JOSEPH NASH | |||||||||
| SVP/CHIEF LENDING OFFICER | 40.00 | $220,902 | $0 | $16,164 | Yes (X) | ||||
| LUISA ROCHESTER | |||||||||
| VP RESIDENTIAL LENDING | 40.00 | $143,919 | $0 | $9,073 | Yes (X) | ||||
| MICHELLE MARCOS | |||||||||
| SVP HUMAN RESOURCES | 40.00 | $175,484 | $0 | $17,953 | Yes (X) | ||||
| KAREN SKINNER | |||||||||
| SVP OPERATIONS & COMPLIANCE | 40.00 | $164,467 | $0 | $21,482 | Yes (X) | ||||
| ROSE CORTES | |||||||||
| MORTGAGE LOAN OFFICER | 40.00 | $233,875 | $0 | $21,436 | Yes (X) | ||||
| LETITIA ZUPKOFSKA | |||||||||
| SVP MARKETING | 40.00 | $136,355 | $0 | $8,768 | Yes (X) | ||||
| CARLOS DACUNHA | |||||||||
| SVP/CHIEF LENDING OFFICER | 40.00 | $117,050 | $0 | $6,710 | Yes (X) | ||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $2,033,913 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $196,193 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 16 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | Yes (1) | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| FISERV | |||||
| 255 FISERV DRIVE | BROOKFIELD | WI | 53045 | TECHNOLOGY SOLUTIONS | $2,781,942 |
| PAGE BUILDING CONSTRUCTION CO INC | |||||
| 135 OLD PAGE STREET UNIT 4 | STOUGHTON | MA | 02072 | CONSTRUCTION & REMODELING | $2,679,988 |
| ADT COMMERCIAL | |||||
| PO BOX 650394 | DALLAS | TX | 75265 | BUSINESS EQUIPMENT & MAINTENANCE | $356,434 |
| DART APPRAISAL | |||||
| PO BOX 771730 | DETROIT | MI | 48277 | PROPERTY APPRAISALS | $327,344 |
| NEW ENGLAND MONEY HANDLING SYSTEMS | |||||
| 86 SOUTH STREET SUITE 1 | HOPKINTON | MA | 01748 | CASH MACHINE SERVICING | $173,370 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 23 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MEMBER LOAN INTEREST | Desc |
| Business | 525900 | BusinessCd |
| Total Revenue Column | $25,611,830 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $25,611,830 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $25,611,830 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $5,784,955 | TotalRevenueColumnAmt |
| Exclusion | $5,784,955 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $19,129 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $0 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $19,129 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $19,129 | TotalRevenueColumnAmt |
| Exclusion | $19,129 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| CUSTOMER SERVICE FEES | 525900 | $3,784,473 | $3,784,473 |
| OTHER LOAN FEES | 525900 | $479,135 | $479,135 |
| SAFE DEPOSIT FEES | 525900 | $98,736 | $98,736 |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $325,554 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $325,554 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $4,687,898 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $36,103,812 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $30,299,728 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $5,804,084 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $122,165 | TotalAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $24,000 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,062,764 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,767,006 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $688,201 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,822,504 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $708,995 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $355,295 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $201,032 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $587,809 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,119,117 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,430,209 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,559,658 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,817,143 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $31,602 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $106,793 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,059,300 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,769,154 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $337,001 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| ATM & BANK CHARGES | $1,534,717 |
| OTHER EXPENSES | $533,072 |
| REWARD PROGRAM EXPENSES | $272,725 |
| LOAN LOSS PROVISION | $222,115 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $467,123 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $29,599,500 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,407,668 | BOYAmt |
| EOY | $5,125,099 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $191,024,386 | BOYAmt |
| EOY | $45,775,694 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $725,481,491 | BOYAmt |
| EOY | $758,674,198 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $959,177 | BOYAmt |
| EOY | $834,810 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $40,778,526 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $20,848,473 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,705,126 | BOYAmt |
| EOY | $19,930,053 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $300,821,344 | BOYAmt |
| EOY | $298,615,320 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $26,362,939 | BOYAmt |
| EOY | $22,759,836 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,266,762,131 | BOYAmt |
| EOY | $1,151,715,010 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $880,412 | BOYAmt |
| EOY | $1,649,543 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,982,226 | BOYAmt |
| EOY | $2,018,866 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,154,449,896 | BOYAmt |
| EOY | $1,041,520,510 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,157,312,534 | BOYAmt |
| EOY | $1,045,188,919 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $109,449,597 | BOYAmt |
| EOY | $106,526,091 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $109,449,597 | BOYAmt |
| EOY | $106,526,091 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,266,762,131 | BOYAmt |
| EOY | $1,151,715,010 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $6,504,312 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$9,751,017 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $323,199 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (1) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,945,234 | OtherCostOrOtherBasisAmt |
| Book Value | $4,945,234 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $24,458,993 | OtherCostOrOtherBasisAmt |
| Depreciation | $12,155,990 | DepreciationAmt |
| Book Value | $12,303,003 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,296,187 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,917,065 | DepreciationAmt |
| Book Value | $379,122 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $7,821,910 | OtherCostOrOtherBasisAmt |
| Depreciation | $5,764,350 | DepreciationAmt |
| Book Value | $2,057,560 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,256,202 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,011,068 | DepreciationAmt |
| Book Value | $245,134 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $19,930,053 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (4 entries)
| DescDesc | AmtAmt |
|---|---|
| CREDIT UNION MEMBER DEPOSITS | $992,900,992 |
| FNMA CUSTODIAL | $53,605 |
| OTHER LIABILITIES | $649,850 |
| FHLB ADVANCES | $47,916,063 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $1,041,520,510 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $36,103,812 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $36,103,812 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $36,103,812 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $29,599,500 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $29,599,500 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $29,599,500 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | ST. ANNE'S CREDIT UNION AS PART OF LOAN OPERATIONS COLLECTS PAYMENTS FROM BORROWERS TO BE HELD IN ESCROW TO PAY REAL ESTATE TAXES AND HOME OWNERS INSURANCE PREMIUMS. |
| PART X, LINE 2: | THE CREDIT UNION IS EXEMPT FROM FEDERAL AND STATE TAXES ON INCOME UNDER PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE STATUTES. TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN, INCLUDING THE POSITION THAT THE CREDIT UNION QUALIFIES AS A TAX EXEMPT ENTITY, ARE REQUIRED TO BE EVALUATED TO DETERMINE WHETHER THE TAX POSITIONS ARE "MORE-LIKELY-THAN-NOT" TO BE UPHELD UNDER REGULATORY REVIEW. TAX POSITIONS NOT DEEMED TO MEET THE MORE-LIKELY-THAN-NOT THRESHOLD WOULD BE ACCRUED AND DISCLOSED IN THE FINANCIAL STATEMENTS. THERE ARE NO UNCERTAIN TAX POSITIONS THAT REQUIRE ACCRUAL OR DISCLOSURE AT DECEMBER 31, 2022 OR 2021. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (6 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|
| SSTAR FAMILY HEALTH CENTER | ||||||||
| 386 STANLEY STREET | FALL RIVER | MA | 02790 | 042604426 | 501(C)(3) | $10,000 | $0 | CHARITABLE CONTRIBUTIONS |
| COOPERATIVE CREDIT UNION ASSOCIATION | ||||||||
| 845 DONALD LYNCH BLVD | MARLBOROUGH | MA | 01752 | 043403594 | 501(C)(6) | $8,095 | $0 | CHARITABLE CONTRIBUTIONS |
| NARRAGANSETT COUNCIL | ||||||||
| PO BOX 14777 10 RISHO AVENUE | EAST PROVIDENCE | RI | 02914 | 050308384 | 501(C)(3) | $9,000 | $0 | CHARITABLE CONTRIBUTIONS |
| UNITED WAY OF GREATER FALL RIVER INC | ||||||||
| 30 BEDFORD ST | FALL RIVER | MA | 02720 | 042104026 | 501(C)(3) | $12,570 | $0 | CHARITABLE CONTRIBUTIONS |
| UNITED WAY OF GREATER NEW BEDFORD INC | ||||||||
| 128 UNION ST SUITE 105 | NEW BEDFORD | MA | 02740 | 042104264 | 501(C)(3) | $11,500 | $0 | CHARITABLE CONTRIBUTIONS |
| STEPPINGSTONE INC | ||||||||
| 466 N MAIN ST | FALL RIVER | MA | 027202408 | 042505146 | 501(C)(3) | $6,000 | $0 | CHARITABLE CONTRIBUTIONS |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 5 | Total501c3OrgCnt |
| Total Other Org | 1 | TotalOtherOrgCnt |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | SCHOLARSHIP | GrantTypeTxt |
| Recipient | 12 | RecipientCnt |
| Cash Grant | $24,000 | CashGrantAmt |
| Non Cash Assistance | $0 | NonCashAssistanceAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | MANAGEMENT TEAM AND BOARD OF DIRECTORS REVIEWS EACH APPLICATION CAREFULLY AND MONITOR GRANT PROCESS CLOSELY TO ENSURE THAT EXPENDITURES ARE APPROPRIATE. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | Yes (1) | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (8 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EILEEN DANAHEY | ||||||||||||||
| PRESIDENT/CEO | $457,021 | $0 | $48,917 | $0 | $0 | $0 | $0 | $0 | $17,951 | $0 | $523,889 | $0 | $0 | $0 |
| PETER PANAGGIO | ||||||||||||||
| EVP/CFO | $256,369 | $0 | $15,772 | $0 | $0 | $0 | $0 | $0 | $17,951 | $0 | $290,092 | $0 | $0 | $0 |
| ROSE CORTES | ||||||||||||||
| MORTGAGE LOAN OFFICER | $232,490 | $0 | $1,385 | $0 | $0 | $0 | $0 | $0 | $21,436 | $0 | $255,311 | $0 | $0 | $0 |
| JOSEPH NASH | ||||||||||||||
| SVP/CHIEF LENDING OFFICER | $219,402 | $0 | $1,500 | $0 | $0 | $0 | $0 | $0 | $16,164 | $0 | $237,066 | $0 | $0 | $0 |
| MICHELLE MARCOS | ||||||||||||||
| SVP HUMAN RESOURCES | $173,984 | $0 | $1,500 | $0 | $0 | $0 | $0 | $0 | $17,953 | $0 | $193,437 | $0 | $0 | $0 |
| KAREN SKINNER | ||||||||||||||
| SVP OPERATIONS & COMPLIANCE | $162,967 | $0 | $1,500 | $0 | $0 | $0 | $0 | $0 | $21,482 | $0 | $185,949 | $0 | $0 | $0 |
| LUISA ROCHESTER | ||||||||||||||
| VP RESIDENTIAL LENDING | $142,419 | $0 | $1,500 | $0 | $0 | $0 | $0 | $0 | $9,073 | $0 | $152,992 | $0 | $0 | $0 |
| CARLOS DACUNHA | ||||||||||||||
| SVP/CHIEF LENDING OFFICER | $117,050 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $6,710 | $0 | $123,760 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINES 4A-B | FormAndLineReferenceDesc |
| Explanation | CARLOS DACUNHA RECEIVED $123,760 OF SEVERANCE PAYMENT IN 2022. THE CREDIT UNION HAS ENTERED INTO AN EMPLOYMENT AGREEMENT ("AGREEMENT") WITH AN EXECUTIVE WHICH PROVIDES FOR A BASE SALARY AND THE CONTINUATION OF CERTAIN BENEFITS CURRENTLY RECEIVED. THE AGREEMENT SHALL BE AUTOMATICALLY EXTENDED FOR ADDITIONAL ONE YEAR TERMS UNLESS THE CREDIT UNION PROVIDES WRITTEN NOTICE OF NON-RENEWAL. THE AGREEMENT PROVIDES FOR SPECIFIED SEVERANCE BENEFITS UPON TERMINATION WITHOUT CAUSE OR UPON A CHANGE IN CONTROL, BOTH AS DEFINED IN THE AGREEMENT, HOWEVER, SUCH EMPLOYMENT MAY BE TERMINATED FOR CAUSE, AS DEFINED, WITHOUT INCURRING ANY CONTINUING OBLIGATIONS. | ExplanationTxt |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp
Name Of Interested NameOfInterested
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ADVANCED ALARM SYSTEMS | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship Description | KEVIN FITZPATRICK, DIRECTOR | RelationshipDescriptionTxt |
| Transaction | $108,030 | TransactionAmt |
| Transaction | KEVIN FITZPATRICK, DIRECTOR OF THE CREDIT UNION, IS ALSO THE OWNER OF THE ADVANCED ALARM SYSTEMS. AVDANCED ALARM SYSTEMS PROVIDES ALARM SERICES TO THE CREDIT UNION. | TransactionDesc |
| Sharing Of Revenues | 0 | SharingOfRevenuesInd |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 4 | THE CREDIT UNION MADE THE FOLLOWING CHANGES TO ITS BYLAWS IN 2022: 1) ARTICLE II MEMBERSHIP AND SPHERE OF OPERATION, SECTION 2 ADDED THAT APPLICATIONS SUBMITTED ONLINE ARE CONSIDERED TO BE IN WRITING. 2) ARTICLE IV DEPOSITS, SECTION 5 ADDED THAT THE BOARD OF DIRECTORS MAY DELEGATE TO MANAGEMENT THE ABILITY TO DETERMINE DEPOSIT INTEREST RATES. 3) ARTICLE VI, LOANS, SECTION 1 ADDED THAT APPLICATIONS SUBMITTED ONLINE ARE CONSIDERED TO BE IN WRITING. 4) ARTICLE VII BOARD OF DIRECTORS, SECTION 1 (A) CHANGED THE NUMBER OF DIRECTORS FROM 11 TO NO LESS THAN SEVEN AND NO MORE THAN ELEVEN. 5) ARTICLE VII BOARD OF DIRECTORS, SECTION 1 (C) ADDED A SPECIAL NOMINATING MEETING PROVISION FOR THE PURPOSE OF PRESENTING NOMINATIONS FOR DIRECTORS TO BE ELECTED AT THE NEXT ANNUAL MEETING. 6) ARTICLE VII BOARD OF DIRECTORS, SECTION 2 CHANGED THE MINIMUM NUMBER OF DIRECTORS TO REMAIN IN OFFICE IN THE CASE OF A VACANCY FROM 9 TO 7. 7) ARTICLE VII BOARD OF DIRECTORS, SECTION 4 (A) PROVIDED FOR THE DELEGATION OF SELECTION OF INSTITUTIONS TO HOLD CREDIT UNION FUNDS TO THE INVESTMENT COMMITTEE. 8) ARTICLE VII BOARD OF DIRECTORS, SECTION 4 (B) - AUTHORIZES INVESTMENTS, OTHER THAN LOANS TO MEMBERS; PROVIDED THAT THE BOARD OF DIRECTORS SHALL ESTABLISH AN INVESTMENT COMMITTEE THAT MAY AUTHORIZE INVESTMENTS AS PROVIDED BY STATUTE AND THESE BYLAWS; PROVIDED FURTHER THAT AN INVESTMENT COMMITTEE MAY REASONABLY DELEGATE ITS DUTIES TO EMPLOYEES IN ACCORDANCE WITH WRITTEN INVESTMENT POLICIES THAT ESTABLISH APPROPRIATE LIMITS AND STANDARDS AND THAT ARE CONSISTENT WITH SAFE AND SOUND BANKING PRACTICES. 9) ARTICLE VII BOARD OF DIRECTORS, SECTION 10 ADDED PROVISION FOR THE APPOINTMENT OF ASSOCIATE DIRECTOR (MIRRORS LANGUAGE FOR HONORARY DIRECTOR) 10) ARTICLE VII BOARD OF DIRECTORS SECTION 11 (NEW) ALLOWS FOR ELECTRONIC BOARD AND COMMITTEE VOTES. 11) ARTICLE VII BOARD OF DIRECTORS SECTION 12 (NEW) - ALLOWS FOR ELECTRONIC PARTICIPATION FOR MEETINGS. 12) ARTICLE VIII CREDIT COMMITTEE, SECTION 1 REQUIRES 1 MEMBER THAT IS A BOARD OF DIRECTOR, AND RETAINS THE REQUIREMENT TO CONSIST OF 3-5 MEMBERS, INCLUSIVE OF THE DIRECTOR. 13) ARTICLE VIII CREDIT COMMITTEE, SECTION 5 ALLOWS FOR RATIFICATION OF ANY LOAN SECURED BY REAL ESTATE BY THE BOARD OF DIRECTORS. 14) ARTICLE VIII CREDIT COMMITTEE, SECTION 6 CLARIFIED THAT THE ALTERNATE CC MEMBER IS A DIRECTOR, NOT AN EMPLOYEE. 15) ARTICLE IX AUDITING COMMITTEE, SECTION 5 REMOVES THE REQUIREMENT FOR THE AUDITING COMMITTEE TO ATTEST TO THE STATEMENT OF CONDITION PREPARED BY THE PRESIDENT. 16) ARTICLE IX AUDITING COMMITTEE, SECTION 6 ALLOWS FOR AN ALTERNATE BOARD MEMBER TO SERVE ON THE AUDITING COMMITTEE. 17) ARTICLE X INVESTMENT COMMITTEE, SECTION 1 REQUIRES 1 MEMBER THAT IS A BOARD OF DIRECTOR, AND RETAINS THE REQUIREMENT TO CONSIST OF 3-5 MEMBERS, INCLUSIVE OF THE DIRECTOR. 18) ARTICLE X INVESTMENT COMMITTEE, SECTION 1 ALLOWS FOR THE COMMITTEE TO DELEGATE DUTIES TO EMPLOYEES IN ACCORDANCE WITH WRITTEN POLICIES AND LIMITS. 19) ARTICLE X INVESTMENT COMMITTEE, SECTION 6 ALLOWS FOR AN ALTERNATE BOARD MEMBER TO SERVE ON THE INVESTMENT COMMITTEE. 20) ARTICLE XI OFFICERS AND THEIR DUTIES ELIMINATED SECTIONS 6 AND 7 REGARDING SIGNING DISCHARGES, ETC. AS THE ACTIVITIES ARE INCLUDED WITHIN THE SCOPE OF SECTION 5 AND ARE THEREFORE DUPLICATIVE. 21) ARTICLE XIV MISCELLANEOUS, SECTION 2 CHANGED BY-LAW AMENDMENTS VOTE REQUIREMENT FROM 3/4 OF THOSE PRESENT TO A MAJORITY OF THOSE PRESENT 22) ARTICLE XVI ELECTRONIC MEETING PARTICIPATION DELETED THE PROVISION THAT AN ELECTRONIC ATTENDANCE FOR A BOARD MEETING IS NOT LIMITED TO 4 PER YEAR (ALLOWS FOR BOTH TELEPHONE AND VIDEO CONFERENCE) |
| FORM 990, PART VI, SECTION A, LINE 6 | LINE 6 - THE CREDIT UNION IS A MEMBERS ONLY CREDIT UNION ACCEPTING MEMBERS FROM THE MASSACHUSETTS COUNTIES OF BRISTOL, BARNSTABLE, NORFOLK, PLYMOUTH OR SUFFOLK; THE RHODE ISLAND COUNTIES OF BRISTOL, NEWPORT, AND PROVIDENCE; AND THE FOLLOWING ADDITIONAL TOWNS IN RHODE ISLAND: COVENTRY, EAST GREENWICH, WARWICK, WEST WARWICK AND NORTH KINGSTOWN. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE MEMBERS VOTE FOR THE BOARD OF DIRECTORS AT THE ANNUAL MEETING AND VOTE ON ALL BUSINESS PRESENTED AT THE ANNUAL MEETING. |
| FORM 990, PART VI, SECTION A, LINE 7B | THE MEMBERS VOTE FOR THE BOARD OF DIRECTORS AT THE ANNUAL MEETING AND VOTE ON ALL BUSINESS PRESENTED AT THE ANNUAL MEETING. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE BOARD OF DIRECTORS HAS DELEGATED THE RESPONSIBILITY TO REVIEW APPROVE AND SIGN THE FORM 990 TO THE CEO OR CFO. THE BOARD IS PROVIDED A COPY OF THE 990 UPON REQUEST. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE CREDIT UNION HAS A CONFLICT OF INTEREST POLICY. EACH YEAR ALL EMPLOYEES AND DIRECTORS MUST DISCLOSE ANY CONFLICTS TO THE BOARD WHICH IS RESPONSIBLE TO SEE THAT ALL CONFLICTS ARE RESOLVED. |
| FORM 990, PART VI, SECTION B, LINE 15A | THE BOARD APPROVES THE EMPLOYMENT CONTRACT OF THE CEO AFTER REVIEW OF CEO'S PERFORMANCE AND OTHER CRITERIA. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGNIZATIONAL GOVERNING DOCUMENTS, FINANCIAL STATMENTS AND FORM 990 ARE AVAILABLE UPON REQUEST TO THE GENERAL PUBLIC. |
| FORM 990, PART XI, LINE 9: | OBLIGATION ON DEFINED BENEFIT PLAN FAS 158 323,199. |
| FORM 990, PART IV, LINE 2C: | THERE WAS NO CHANGE IN THE OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR 2022. |
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