2020-01-24T13:36:42-06:00 2019-08-31 111986323 MARCUM LLP 53 STATE STREET BOSTON MA 02109 990 2018-09-01 041207240 THE COOPERATIVE CENTRAL BANK COOP 7819944151 ONE LINSCOTT ROAD WOBURN MA 01801 ANDREW J CALAMARE PRESIDENT & CEO 6176950400 2020-01-23 1 DAVID ST YVES P00178146 6178075000 47.19.127.190 2020-01-23 11:56:33 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 987FDD9EF9C0A3B3B60512F2147F3E8DA595B8A8 2018 2020-09-23 17:36:50Z X ANDREW J CALAMARE ONE LINSCOTT ROAD WOBURN MA 01801 4132062 0 X WWW.COOPCENTRALBANK.COM X 1932 MA TO PROVIDE CASH RESERVES AND DEPOSIT INSURANCE FOR MASSACHUSETTS COOPERATIVE BANKS. 10 2 4 0 0 0 0 0 1504608 1461571 2481513 2670491 0 0 3986121 4132062 0 0 0 0 1518566 1535730 0 0 0 721052 529537 2239618 2065267 1746503 2066795 137830527 143477491 30645838 30275425 107184689 113202066 OPERATED AND WHOLLY OWNED BY ALL 38 MASSACHUSETTS CO-OPERATIVE BANKS, SOLELY FOR THE MUTUAL BENEFIT OF ALL OF THEIR DEPOSITORS, AS A SOURCE OF CASH RESERVES AND TO PROVIDE INSURANCE IN FULL OF DEPOSITS UNDER MASSACHUSETTS LAW. 0 0 N/A 0 0 0 0 0 0 0 0 0 1 1 0 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 0 0 0 0 1 21 0 1 4 1 0 0 0 0 0 0 0 0 X 10 2 0 0 0 0 1 1 0 1 1 0 0 0 1 1 1 1 0 1 1 0 X JUDITH M JAVIDPOUR 7819944151 ONE LINSCOTT ROAD WOBURN MA 01801 EILEEN P MCANNENY DIRECTOR 1.00 X 6675 0 0 JOSEPH V SCHOLL VICE CHAIR 1.00 X X 12950 0 0 JULIEANNE M THURLOW CHAIR 1.00 X X 14475 0 0 JOSEPH T BAPTISTA JR DIRECTOR 1.00 X 9175 0 0 JOSEPH A DEVITO DIRECTOR 1.00 X 8475 0 0 ANDREW J RACZKA DIRECTOR 1.00 X 7350 0 0 RAIJA VAISANEN DIRECTOR 1.00 X 6075 0 0 MARK R HARANAS DIRECTOR 1.00 X 7875 0 0 MICHAEL E TUCKER DIRECTOR 1.00 X 7350 0 0 ROBERT W TERRAVECCHIA JR DIRECTOR 1.00 X 1500 0 0 ANDREW J CALAMARE PRESIDENT AND CEO 40.00 X 559066 0 35642 ANNEMARIE LEE VICE PRESIDENT 40.00 X 175249 0 35266 JUDITH M JAVIDPOUR SENIOR VP & TREASURER 40.00 X 288576 0 44234 1104791 0 115142 3 0 1 0 K&L GATES LLP ONE LINCOLN STREET BOSTON MA 02111 LEGAL SERVICES 161029 JOYCE AND JOYCE ONE CANAL STREET SUITE 1201 BOSTON MA 02114 LEGAL SERVICES 125000 2 DEPOSIT INSURANCE ASSESSMENTS 524298 1461571 1461571 1461571 2670491 2670491 4132062 1461571 0 2670491 1208188 193427 88135 45980 81360 43395 100000 13671 32539 20992 110782 57645 12222 6480 36996 DUES & SUBSCRIPTIONS 13455 2065267 1380957 1376265 11533000 9818000 86191 85897 64731 56918 14293 7813 118690123 126007037 6125963 6182479 137830527 143477491 229440 227061 30416398 30048364 30645838 30275425 X 0 0 0 0 107184689 113202066 107184689 113202066 137830527 143477491 2066795 3950582 0 X X 0 1 X 1 0 64731 56918 7813 7813 US AND FEDERAL AGENCY OBLIGATIONS - AFS 126007037 F 126007037 DEPOSITS BY MEMBER BANKS 30048364 30048364 X 4132062 0 4132062 0 4132062 2065267 0 2065267 0 2065267 PART X, LINE 2: THE BANK IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)14 OF THE INTERNAL REVENUE CODE. THE BANK'S POLICY IS TO ANALYZE ITS TAX POSITIONS FOR ALL OPEN YEARS AND HAS NOT IDENTIFIED ANY UNCERTAIN TAX POSITIONS. 1 X X 0 0 0 ANDREW J CALAMARE PRESIDENT AND CEO 352042 0 69655 0 137369 0 27500 0 8142 0 594708 0 0 0 ANNEMARIE LEE VICE PRESIDENT 159461 0 15788 0 0 0 15946 0 19320 0 210515 0 0 0 JUDITH M JAVIDPOUR SENIOR VP & TREASURER 249141 0 39435 0 0 0 24914 0 19320 0 332810 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE COOPERATIVE CENTRAL BANK IS A PRIVATE SPECIAL ACT CORPORATION ESTABLISHED BY THE LEGISLATURE OF THE COMMONWEALTH OF MASSACHUSETTS. THE CENTRAL BANK IS OPERATED AND WHOLLY OWNED BY ITS "MEMBERS" - ALL 38 MASSACHUSETTS COOPERATIVE BANKS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE BOARD OF DIRECTORS ELECT NEW DIRECTORS OR REAPPOINT EXISTING DIRECTORS FOR ADDITIONAL TERMS. THE MAJORITY OF DIRECTOR POSITIONS CONSISTS OF REPRESENTATIVES OF THE CENTRAL BANK'S MEMBER-BANKS AS DESCRIBED IN PART VI, SECTION A, QUESTION 6. THE CENTRAL BANK ALSO HAS INDEPENDENT OR PUBLIC-INTEREST DIRECTORS THAT ARE NOT AFFILIATED WITH ITS MEMBER-BANKS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS REVIEWED BY THE TREASURER FOR ACCURACY. PRIOR TO FILING, THE FORM 990 WAS REVIEWED AND APPROVED BY THE GOVERNING BODY'S AUDIT COMMITTEE CHAIRMAN. A COPY OF THE COMPLETED FORM 990 IS MADE AVAILABLE TO ALL THE MEMBERS OF THE GOVERNING BOARD AFTER FILING THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C THE CENTRAL BANK RECEIVES OVERSIGHT FROM THE BOARD OF DIRECTORS AND ITS COMMITTEES TO ENSURE THAT SUCH POLICIES ARE ADHERED TO ON A REGULAR BASIS. FORM 990, PART VI, SECTION B, LINE 15 ON AN ANNUAL BASIS, THE COMPENSATION COMMITTEE MAKES RECOMMENDATIONS TO THE BOARD FOR THE PRESIDENT AND CEO. THEY ALSO RECOMMEND A PERCENTAGE COMPENSATION INCREASE, IF ANY, FOR ALL EMPLOYEES, WHICH IS ALLOCATED AT THE DISCRECTION OF THE PRESIDENT AND CEO. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE CENTRAL BANK IS A PRIVATE SPECIAL ACT CORPORATION ESTABLISHED BY THE LEGISLATURE OF THE COMMONWEALTH OF MASSACHUSETTS. AUDITED FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC VIA THE CENTRAL BANK'S WEBSITE (WWW.COOPCENTRALBANK.COM). OTHER DOCUMENTS ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 2B AND 2C: THERE HAVE BEEN NO CHANGES SINCE THE PRIOR YEAR TO THE AUDIT COMMITTEE'S (I) OVERSIGHT OF THE AUDIT OF THE CENTRAL BANK'S FINANCIAL STATEMENTS, OR (II) THE SELECTION OF THE INDEPENDENT ACCOUNTANT.