2021-07-23T13:52:19-05:00 2020-12-31 825448715 SPINELLI CPA PC 146 WEST BOYLSTON DRIVE SUITE 302 WORCESTER MA 01606 990 2020-01-01 041680140 ALIGN CREDIT UNION ALIG 8009429575 40 MARKET STREET LOWELL MA 01852 KENNETH M DEL ROSSI PRESIDENT AND CEO 8009429575 2021-07-23 1 KENNETH DEL ROSSI 999009999 KAREN SPINELLI P00644492 5083656522 2021-07-23 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z KENNETH M DEL ROSSI 40 MARKET STREET LOWELL MA 01851 50386985 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. 12 12 166 0 46849 0 0 0 17899335 17206350 4652338 5733297 4777588 5770224 27329261 28709871 0 0 3354894 3817024 10711653 11733210 0 0 0 11346578 11440281 25413125 26990515 1916136 1719356 641056129 692602330 566044617 610741390 75011512 81860940 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 3817024 DIVIDENDS AND INTEREST PAID ON MEMBERS DEPOSITS. 13592941 GRANTING CREDIT TO MEMBERS WITH VARIOUS LOAN PRODUCTS. 167544 MEMBER SERVICES INCLUDING DEBIT AND CREDIT CARDS. 17577509 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 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 11014 0 1 166 1 1 1 0 0 0 0 0 0 0 X 12 12 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 FRANCIS J MCKENNEY 1ST VICE-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 DIRECTOR 1.00 X 0 0 0 RICHARD W PIECEWICZ 2ND VICE-CHAIRMAN 1.00 X 0 0 0 LINDA L PURTELL DIRECTOR 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 510558 0 116812 MAXWELL G RODGERS DIRECTOR 1.00 X 0 0 0 THOMAS HAMMOND CFO 40.00 X 280235 0 28769 BRIAN BACCI CHIEF LENDING OFFICER 40.00 X 214516 0 28450 KATIE ROCKETT MORTGAGE ORIGINATOR 40.00 X 203979 0 19964 DEREK DA SILVA MORTGAGE ORIGINATOR 40.00 X 200549 0 6597 1409837 0 200592 5 0 1 0 0 INTEREST ON LOANS 522100 17206350 17206350 17206350 4332023 4332023 23078388 21677114 1401274 1401274 1401274 OTHER REVENUE 522100 2314120 2314120 GAIN/LOSS SALE OF LOANS 522100 1678624 1678624 ATM INT CHG INC 522100 1177667 1177667 599813 552964 46849 5770224 28709871 27261748 46849 1401274 3817024 3817024 1409837 203979 1205858 7560158 7560158 572236 383398 188838 1504120 1007760 496360 686859 460196 226663 13161 13161 665985 665985 1264869 1264869 7842 5228 2614 1548781 1548781 1068886 1068886 OTHER EXPENSES 4152137 4152137 SERVICE CONTRACT 1743999 1743999 PROVISION FOR LOAN LOSS 686000 686000 ALL OTHER EXPENSES 160986 160986 127635 127635 26990515 17577509 9413006 0 10460496 25409750 16833795 108932464 415442112 394577055 17843943 8588711 9470611 9255232 173896973 140866046 4636000 2880200 10316142 10681583 641056129 692602330 696838 652066 565347779 610089324 566044617 610741390 X 0 0 0 0 75011512 81860940 75011512 81860940 641056129 692602330 1719356 5130072 0 X 0 1 X 1 0 0 1 X 2125000 2125000 10364904 4833156 5531748 939197 509901 429296 4414842 3245654 1169188 9255232 OTHER LIABILITIES 2819564 BORROWINGS 45000000 MEMBERS' SHARE AND DEPOSIT ACCOUNTS 560335235 MORTGAGORS' TAX ESCROW 1934525 610089324 X 28709871 0 28709871 0 28709871 26990515 0 26990515 0 26990515 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 THAT AS OF DECEMBER 31, 2020 AND 2019, 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. 1 X X X X 0 0 0 KENNETH M DEL ROSSI PRESIDENT AND CEO 477697 0 16521 0 16340 0 0 0 116812 0 627370 0 0 0 THOMAS HAMMOND CFO 272474 0 5170 0 2591 0 0 0 28769 0 309004 0 0 0 BRIAN BACCI CHIEF LENDING OFFICER 209849 0 4422 0 245 0 0 0 28450 0 242966 0 0 0 KATIE ROCKETT MORTGAGE ORIGINATOR 29706 0 174193 0 80 0 0 0 19964 0 223943 0 0 0 DEREK DA SILVA MORTGAGE ORIGINATOR 31417 0 169090 0 42 0 0 0 6597 0 207146 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. INLIGN INSURANCE SERVICE LLC 40 MARKET STREET LOWELL MA 01851 852752732 INSURANCE SERVICES MA 0 413141 ALIGN CREDIT UNION