2023-11-15T09:39:59-06:00 2022-12-31 272562250 BAILEY SCARANO LLC 1224 MAIN STREET BRANFORD CT 06405 990 2022-01-01 060655039 NUTMEG STATE FINANCIAL CREDIT UNION NUTM 8605135000 500 ENTERPRISE DRIVE 4 ROCKY HILL CT 060670066 CRAIG KNELL CFO 8605135000 2023-11-14 1 CRAIG KNELL 999009999 0 STEVEN M MOALLI CPA P01321875 2034811120 2023-11-14 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z CRAIG KNELL 500 ENTERPRISE DRIVE ROCKY HILL CT 06067 33470573 0 X WWW.NUTMEGSTATEFCU.ORG X CREDIT UNION 1936 CT TO PROVIDE MEMBERS WITH LOAN AND DEPOSIT PRODUCTS, AS WELL AS VARIOUS OTHER CREDIT UNION SERVICES. 7 7 176 10 2473313 0 0 0 28383201 31960345 590459 1510228 0 0 28973660 33470573 0 0 0 0 11373402 12072355 0 0 0 13300970 15643258 24674372 27715613 4299288 5754960 514015975 554794800 442459626 484337402 71556349 70457398 TO IMPLEMENT TECHNOLOGY TO PROVIDE AN EXCEPTIONAL MEMBER EXPERIENCE AND CREATE INNOVATIVE FINANCIAL SOLUTIONS WHILE ENSURING FINANCIAL INCLUSION. 0 0 TO PROVIDE FINANCIAL SERVICES TO OUR MEMBERS WITH LOW INTEREST RATE LOANS AND HIGH DIVIDEND RATE SHARE ACCOUNTS 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 37 0 176 1 1 1 0 0 0 0 0 0 0 0 0 X 7 7 1 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 0 CT X THE ORGANIZATION 8605135000 500 ENTERPRISE DRIVE ROCKY HILL CT 06067 LUIS RAMOS BOARD CHAIRMAN 1.00 2.00 X 10105 0 0 MICHAEL PETTI BOARD VICE-CHAIRMAN 1.00 1.00 X 8763 0 0 MARYBETH BUNKO BOARD SECRETARY 1.00 1.00 X 1511 0 0 WALLACE ABRAMSON BOARD TREASURER 1.00 1.00 X 7955 0 0 RONALD BROUSSEAU BOARD MEMBER 1.00 1.00 X 573 0 0 MICHAEL GODBOUT BOARD MEMBER 1.00 1.00 X 2041 0 0 CHARLES SABIA BOARD MEMBER 1.00 1.00 X 1150 0 0 VINCENT ANGELILLO SVP, CHIEF OF STAFF 1.00 40.00 X X 258518 0 0 JOHN HOLT PRESIDENT/CEO 1.00 40.00 X 963485 0 0 MARIA DEMARCO SUPERVISORY COMMITTEE 1.00 1.00 X 5966 0 0 PJ CIMINI ESQ BOARD MEMBER 0.00 1.00 X 0 0 0 STEVEN HERNANDEZ ESQ BOARD MEMBER 0.00 1.00 X 0 0 0 AL FESTINI SVP, STRAEGIC PARTNERSHIPS & COMMUNITY DEV 1.00 40.00 X 264273 0 0 SHANE DUGAN VP, COMMERCIAL LENDING 1.00 40.00 X 156131 0 0 MARC RIETZE PRODUCT MARKETING MANAGER 1.00 40.00 X 156823 0 0 JAVIER ROMAN MEMBER SUCCESS DIRECTOR 1.00 40.00 X 150505 0 0 MARK EDLUND DIRECTOR INFRASTRUCTURE AVAILABILITY 1.00 40.00 X 171525 0 0 DANA CLARK VP, CONSUMER LENDING 0.00 40.00 X 187898 0 0 CRAIG GINMAN SVP - ACCOUNTING & FINANCE 0.00 40.00 X 262691 0 0 JOHN KORBER SVP, STRATEGY & INNOVATION 0.00 40.00 X 249731 0 0 STACEY COLLINS VP, PEOPLE & CULTURE 0.00 40.00 X 223840 0 0 PHILLIP MUCHA FINANCE & ACCOUNTING PROJE 0.00 40.00 X 161925 0 0 3245409 0 0 17 1 1 0 PRESIDIO TECHNOLOGY CAPITAL PO BOX 74390 CHICAGO IL 606908390 IT EQUIPMENT 860517 DALAND SOLUTIONS LLC 500 ENTERPRISE DRIVE ROCKY HILL CT 06067 IT CONSULTING 536196 MKS 500 ENTERPRISE 150 EAST 58TH STREET SUITE 2000 NEW YORK NY 01015 LEASED OFFICE SPACE 477654 HARVARD PILGRIM HEALTH CARE 93 WORCHESTER STREET WELLESLEY MA 02481 HEALTH CARE INSURANCE 423043 BUSINESS DATA INC PO BOX 6081 INGLEWOOD CA 903126081 DIGITAL PRINTING SERVICE 411710 23 INTEREST ON LOANS 522100 17893896 17893896 OTHER OPERATING INCOME 900099 11593136 11593136 UNRELATED BUSINESS INCOME 900099 2459148 2459148 UNRELATED BUSINESS INCOME 524298 14165 14165 31960345 1510228 1510228 33470573 29487032 2473313 1510228 9899331 2173024 613434 4020737 2331138 3129950 1782816 LOAN SERVICING EXPENSES 1542608 PROFESSIONAL AND OUTSID 1439635 INVESTMENT LOSSES 823136 PROVISION FOR LOAN & LE -302838 262642 27715613 3927676 4833511 1134609 1387598 366868587 413703714 21088775 11650613 10385554 9438162 120350166 107159911 1970000 1970000 9379383 16301904 514015975 554794800 8494033 14373870 433965593 469963532 442459626 484337402 X 0 0 0 0 71556349 70457398 71556349 70457398 514015975 554794800 5754960 -6853911 0 X 0 1 X 1 0 1567900 1567900 4927030 622387 4304643 1453661 196971 1256690 12920184 10831255 2088929 220000 220000 9438162 NCUSIF DEPOSIT 4401850 C CERTIFICATES OF DEPOSIT 400000 C FEDERAL AGENCY SECURITIES 41245315 F FHLB INVESTMENTS 265800 C MORTGAGE BACKED SECURITIES 1923271 F FEDERAL RESERVE BANK 39405938 C EQUITY SECURITIES 17830368 F FHLB IDEAL WAY 1020742 C DEPOSITS AND CAPITAL IN CU'S 666627 C 107159911 MEMBER SHARES 469963532 469963532 X 33470573 0 33470573 0 33470573 27715613 0 27715613 0 27715613 PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE AND LOCAL TAXES UNDER THE PROVISIONS OR THE INTERNAL REVENUE CODE AND STATE TAX LAWS. HOWEVER, THE CREDIT UNION IS SUBJECT TO UNRELATED BUSINESS INCOME TAX. THE INCOME TAX TOPIC OF FASB ASC CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE FINANCIAL STATEMENTS. THE INTERPRETATION PROVIDES CRITERIA FOR ASSESSMENT OF INDIVIDUAL TAX POSITIONS AND A PROCESS FOR RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. TAX POSITIONS ARE EVALUATED ON WHETHER THEY MEET A "MORE LIKELY THAN NOT" STANDARD FOR SUSTAINABILITY ON EXAMINATION BY TAX AUTHORITIES. MANAGEMENT HAS DETERMINED THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. THE INCOME FROM THE CREDIT UNION'S WHOLLY OWNED CUSO(S), IS SUBJECT TO FEDERAL AND STATE INCOME TAXES. X 1 1 X X X 0 1 0 JOHN HOLT PRESIDENT/CEO 489355 0 224130 0 250000 0 0 0 0 0 963485 0 0 0 AL FESTINI SVP, STRAEGIC PARTNERSHIPS & COMMUNI 212916 0 51357 0 0 0 0 0 0 0 264273 0 0 0 CRAIG GINMAN SVP - ACCOUNTING & FINANCE 217311 0 45380 0 0 0 0 0 0 0 262691 0 0 0 VINCENT ANGELILLO SVP, CHIEF OF STAFF 213125 0 45393 0 0 0 0 0 0 0 258518 0 0 0 JOHN KORBER SVP, STRATEGY & INNOVATION 204250 0 45481 0 0 0 0 0 0 0 249731 0 0 0 STACEY COLLINS VP, PEOPLE & CULTURE 200656 0 23184 0 0 0 0 0 0 0 223840 0 0 0 DANA CLARK VP, CONSUMER LENDING 162929 0 24969 0 0 0 0 0 0 0 187898 0 0 0 MARK EDLUND DIRECTOR INFRASTRUCTURE AVAILABILITY 163077 0 8448 0 0 0 0 0 0 0 171525 0 0 0 PHILLIP MUCHA FINANCE & ACCOUNTING PROJE 161925 0 0 0 0 0 0 0 0 0 161925 0 0 0 MARC RIETZE PRODUCT MARKETING MANAGER 135503 0 21320 0 0 0 0 0 0 0 156823 0 0 0 SHANE DUGAN VP, COMMERCIAL LENDING 144433 0 11698 0 0 0 0 0 0 0 156131 0 0 0 JAVIER ROMAN MEMBER SUCCESS DIRECTOR 130505 0 20000 0 0 0 0 0 0 0 150505 0 0 0 PART I, LINE 3 CEO HAS EMPLOYMENT CONTRACT THAT IS APPROVED BY THE BOARD WORKING WITH OUTSIDE CONSULTANTS. PART I, LINE 4B JOHN HOLT, CEO - $250,000 FORM 990, PART VI, SECTION A, LINE 2 MARYBETH BUNKO (DAUGHTER AND SUPERVISORY COMMITTEE CHAIRPERSON) AND WALLY ABRAMSON (FATHER AND TREAURER/BOARD OF DIRECTOR) ARE RELATED FORM 990, PART VI, SECTION A, LINE 6 MEMBERS OF THE CREDIT UNION CONSIST OF INIDIVIDUALS AND BUSINESSES MAINTAINING DEPOSIT REQUIREMENTS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS IN GOOD STANDING MAY VOTE FOR DIRECTORS AS THEIR TERMS EXPIRE. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS APPROVE DECISIONS OF THE GOVERNING BOARD IN ACCORDANCE WITH THE CREDIT UNION BY-LAWS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED WITH THE CEO AND CHAIRMAN OF THE BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT ON INTEREST POLICY IS REVIEWED ANNUALLY BY THE BOARD OF DIRECTORS FORM 990, PART VI, SECTION B, LINE 15 OUTSIDE CONSULTANTS ANNUALLY REVIEW PRESIDENT'S/CEO'S COMPENSATION WITH THE BOARD OF DIRECTORS. CEO WORKS WITH A THIRD PARTY TO REVIEW ANNUAL COMPENSATION SURVEYS FOR SENIOR MANAGEMENT. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION MAKES ALL GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FINANCIAL STATEMENTS ARE POSTED FOR VIEWING IN ALL BRANCH LOCATIONS. DALAND LLC 520 CROMWELL AVE ROCKY HILL CT 06067 830753519 CU CONSULTING SERVICES CT 2250159 6404461 NUTMEG STATE FCU MOTOR VEHICLE EXPRESS LLC 520 CROMWELL AVE ROCKY HILL CT 06067 830772098 PROVIDE CT DMV SERVICES CT 208989 1485518 NUTMEG STATE FCU NUTMEG STATE INSURANCE BENEFITS LLC 520 CROMWELL AVE ROCKY HILL CT 06067 203848012 SALE OF INSURANCE PRODUCTS CT 14165 308448 NUTMEG STATE FCU