2018-07-25T17:07:21-05:00 2016-12-31 382492570 DOEREN MAYHEW 12060 S W 129th Court Ste 201 Miami FL 331864582 990 2016-01-01 472559616 AMERICAN EAGLE FINANCIAL CREDIT UNION AMER 8605695554 417 MAIN STREET EAST HARTFORD CT 06118 DEAN MARCHESSAULT PRESIDENT/CEO 8605695554 2018-07-24 1 DOUGLAS J ORTH P01076394 3052328272 2016 2022-09-23 18:48:47Z X DEAN MARCHESSAULT 417 MAIN STREET EAST HARTFORD CT 06118 63665221 0 X www.americaneagle.org X 1935 CT AMERICAN EAGLE FINANCIAL CREDIT UNION PROVIDES FINANCIAL SERVICES IN THE FORM OF LOANS AND DEPOSIT PRODUCTS THAT HELP ITS MEMBERSHIP ACHIEVE THEIR FINANCIAL GOALS. 11 11 347 19 131448 -133643 0 0 55970289 58280842 3374812 2910560 0 2473819 59345101 63665221 10846 12053 0 0 26129218 25389741 0 0 0 28774223 30302080 54914287 55703874 4430814 7961347 1433785963 1534734502 1302549279 1395932761 131236684 138801741 X OUR MISSION IS TO BE A PROGRESSIVE FINANCIAL INSTITUTION PROVIDING COMPETITIVE PRODUCTS AND SERVICES AND AN OUTSTANDING CONSULTATIVE SERVICE EXPERIENCE THAT SURPASSES MEMBER EXPECTATIONS. 0 0 DURING 2016, AMERCIAN EAGLE FINANCIAL CREDIT UNION (AEFCU), A STATE CHARTERED CREDIT UNION LOCATED IN THE STATE OF CONNECTICUT, PROVIDED FINANCIAL SERVICES TO MEMBERS WHO LIVE, WORK, WORSHIP OR ATTEND SCHOOL IN THE HARTFORD, TOLLAND, NEW HAVEN AND MIDDLESEX COUNTIES IN CT. AEFCU CONTINUED TO FULFILL ITS EXEMPT PURPOSE BY PROVIDING CREDIT AT FAIR AND REASONABLE RATES OF INTEREST, OFFERING COMPETITIVE SHARE DEPOSIT PRODUCTS, AND PROVIDING MEMBERS WITH THE OPPORTUNITY TO IMPROVE THEIR ECONOMIC CONDITION.In 2016, Membership grew from 112,363 to 121,916 members. There were 23,256 loans granted for a total of $678,317,291. Deposits grew from 226,993 accounts to 243,277 accounts for a total increase of $90,753,430. AEFCU ALSO CONDUCTED SEMINARS FOR ITS MEMBERSHIP THAT RANGED FROM FINANCIAL LITERACY TO FIRST TIME HOME BUYING. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 53852 0 1 347 1 1 1 0 0 0 0 0 X 11 11 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X JOHN CONANT 8605695522 417 MAIN STREET EAST HARTFORD CT 06118 A LISA BURGARELLA DIRECTOR 2.00 X 0 0 0 KENNETH D STEVENSON DIRECTOR 2.00 X 0 0 0 RAYMOND C GANDY DIRECTOR 2.00 X 5094 0 0 MICHAEL P DEPASQUALE SECRETARY 3.00 X 3373 0 0 KENNETH R WILCZEWSKI DIRECTOR 2.00 X 0 0 0 CATHERINE M BANBURY DIRECTOR 2.00 X 2327 0 0 ANGELA BULL CHAIRPERSON 2.00 X 1233 0 0 JOSEPH R CAMPOSEO DIRECTOR 2.00 X 0 0 0 MICHAEL W HAWMAN TREASURER 2.00 X 1707 0 0 MARK P ALLEN V. CHAIRPERSON 4.00 X 1350 0 0 GERALD BENEDETTO DIRECTOR 2.00 X 3352 0 0 D MARCHESSAULT PRESIDENT/CEO 40.00 X 589725 0 16310 J CONANT EVP/CFO 40.00 X 354796 0 32138 T KNOX SVP/COO 40.00 X 439095 0 20346 J EVANS SVP/CIO 40.00 X 401690 0 50158 B KENNEDY SVP/CSO 40.00 X 225185 0 27430 S BUSHNIK SVP/CTO 40.00 X 219648 0 25355 H Brady SVP/CLO 40.00 X 231226 0 39999 W DOKAS FORMER PRESIDENT/CEO 0.00 X 117846 0 0 2597647 0 211736 31 1 1 0 FIS PO BOX 4535 CAROL STREAM IL 60197 COMPUTER EQUIPMENT & SOFTWARE 960308 PRESIDIO NETWORK SOLUTIONS PO BOX 677638 DALLAS TX 75267 SOFTWARE 909988 STRATEGIC INFORMATION RESOURCE 155 BROOKDALE DRIVE SPRINGFIELD MA 01104 MORTGAGE APPRAISAL FILINGS 830620 FiServ INC PO BOX 99924 GRAPEVINE TX 76099 SOFTWARE 709945 DIEBOLD INC POBOX 64353 PITTSBURGH PA 15264 ATM & POS Services 612542 36 INCOME ON LOANS 522100 42312391 42312391 FEES/CHARGES/OTHER 522100 15837003 15837003 UNRELATED BUSINESS INCOME 900099 112548 112548 UNRELATED BUSINESS INCOME 524298 18900 18900 58280842 2910560 2910560 GAINS ON LOANS 522100 2473819 2473819 2473819 63665221 63533773 131448 0 12053 1011405 18107200 1496610 3474256 1300270 739646 134598 133135 442588 1030181 3101438 3329486 3143539 367241 4656877 117427 787713 259000 PROVISION FOR LOAN LOSS 4800000 LOAN SERVICING EXPENSE 3953289 DEBIT CARD SERVICES 1165586 REPAIRS AND MAINTENANCE 932697 1207639 55703874 5532561 5149720 34914947 114504387 1972158 2122962 4615000 12612768 1004257387 1184793271 918129 800020 37732816 21975934 16100575 15756882 337645140 172321536 5628500 4167500 22201566 22505456 1433785963 1534734502 15678421 18308473 20000000 20000000 1266870858 1357624288 1302549279 1395932761 X 0 0 0 0 131236684 138801741 131236684 138801741 1433785963 1534734502 X 7961347 13410 -409700 X X 0 1 X 1 0 3292551 3292551 21511497 12574641 8936856 1701853 516325 1185528 11040218 8802065 2238153 186697 82903 103794 15756882 SHARE DRAFTS 251630664 SHARES 347916446 MONEY MARKET 437574495 SHARE AND IRA CERTIFICATS 320502683 1357624288 X Part X, Line 2: The Credit Union is exempt from most federal, state, and local taxes under the provisions of the Internal Revenue Code and state tax laws. The Income Tax Topic of the FASB ASC clarifies accounting for uncertainty in income taxes reported in the consolidated 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 the "more likely than not" standard for sustainability on examination by tax authorities. Federal credit unions are tax-exempt under Internal Revenue Code sections 501(c)(14)(a) and 501(c)(1)(a)(I). As such, the Credit Union has no uncertain tax positions that qualify for either recognition or disclosure in the consolidated financial statements. Additionally, no interest or penalties have been recorded in the accompanying consolidated financial statements related to uncertain tax positions. 0 THE UNITED WAY OF AMERICA 701 N FAIRFAX STREET ALEXANDRIA VA 22314 131635294 501(c)(3) 7053 CHARITABLE CONTRIBUTION GOODWIN COLLEGE FOUNDATION 1 Riverside Dr East Hartford CT 06118 501(c)(3) 5000 DONATION 2 X X X 0 1 0 D MARCHESSAULT PRESIDENT/CEO 413475 0 176250 0 0 0 12600 0 3710 0 606035 0 0 0 J CONANT EVP/CFO 262441 0 92355 0 0 0 13932 0 18206 0 386934 0 0 0 T KNOX SVP/COO 226545 0 77550 0 135000 0 13804 0 6542 0 459441 0 0 0 J EVANS SVP/CIO 196190 0 70500 0 135000 0 32598 0 17560 0 451848 0 0 0 B KENNEDY SVP/CSO 165260 0 59925 0 0 0 9937 0 17493 0 252615 0 0 0 S BUSHNIK SVP/CTO 161509 0 58139 0 0 0 12504 0 12851 0 245003 0 0 0 H Brady SVP/CLO 187806 0 43420 0 0 0 22473 0 17526 0 271225 0 0 0 W DOKAS FORMER PRESIDENT/CEO 0 0 0 0 117846 0 0 0 0 0 117846 0 0 0 Part I, Line 4b TERESA KNOX RECEIVED A RETENTION BONUS OF $135,000. JAMES EVANS RECEIVED A RETENTION BONUS OF $135,000. JOHN C. CONANT PARTICIPATED IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN. THE CASH SURRENDER VALUE OF POLICY AS OF DECEMBER 31, 2016 WAS $471,429; DEAN MARCHESSAULT PARTICIPATED IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN. THE CASH SURRENDER VALUE OF THE POLICY AS OF DECEMBER 31, 2016 WAS $728,571. WILLIAM J. DOKAS, THE FORMER PRESIDENT/CEO, PARTICIPATED IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN WITH A NET SURRENDER VALUE OF $3,631,390 AS OF DECEMBER 31, 2016. Dean Marchessault PRESIDENT/CEO SPLIT DOLLAR X 5130000 5133128 0 1 1 JOHN CONANT EVP/CFO SPLIT DOLLAR X 3330000 3329640 0 1 1 WILLIAM J DOKAS FORMER CEO SPLIT DOLLAR X 8400000 4150000 0 1 1 12612768 Form 990, Part VI, Section A, line 6 THE ORGANIZATION HAS MEMBERS. Form 990, Part VI, Section A, line 7a Members of the Credit Union have the right to approve the governing body's election and removal of members of the governing body, as well as other matters that are subject to the approval of members of the Credit Union as they occur. MEMBERSHIP VOTES AT AN ANNUAL MEETING TO SELECT 3 BOARD MEMBERS EACH YEAR. Form 990, Part VI, Section A, line 7b MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. Form 990, Part VI, Section B, line 11b THE 990 WILL BE GIVEN TO THE BOARD OF DIRECTORS AS AN AGENDA ITEM AND REVIEWED AT THE BOARD MEETING. Form 990, Part VI, Section B, line 12c Employees, officers and directors of the Credit Union are asked to disclose all share and loan accounts at the Credit Union that they have an interest in on an annual basis. Form 990, Part VI, Section B, line 15 The Credit Union utilizes an outside consultant to perform an independent compensation survey for all officer level positions every 2 years. Form 990, Part VI, Section C, line 19 GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. CONFLICT OF INTEREST POLICY IS NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC VIEWING ON WWW.NCUA.GOV VIA THE QUARTERLY 5300 FILING. Form 990, Part XI, line 9: NET PENSION LOSSES -409,700. Form 990, Part XII, Line 2c: THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. Page 1, line B Amended Return THE ORGANIZATION OVERSTATED BASE COMPENSATION OF ALL OFFICERS AND HIGHEST COMPENSATED EMPLOYEES REPORTED ON FORM 990 PART VII AND SCHEDULE J PART II. SPECIFICALLY, BONUS AND INCENTIVE COMPENSATION AND OTHER REPORTABLE COMPENSATION WAS INAPPROPRIATELY DOUBLE COUNTED AS IT WAS ALSO INCLUDED IN EACH EMPLOYEE'S BASE COMPENSATION FIGURE. AS A RESULT THE FOLLOWING PARTS AND SCHEDULES WERE AFFECTED: FORM 990: PART VII COMPENSATION OF OFFICERS, DIRECTORS, TRUSTEES, KEY EMPLOYEES, AND HIGHEST COMPENSATED. REPORTABLE COMPENSATION WAS REDUCED TO THE CORRECT AMOUNTS. FORM 990: PART IX LINE 5 COMPENSATION OF CURRENT OFFICERS, DIRECTORS, TRUSTESS AND KEY EMPLOYEES WAS CORRECTED. FORM 990: PART IX LINE 7 OTHER SALARIES AND WAGES WAS CORRECTED AS A RESULT OF THE CORRECTION REPORTED ON LINE 5. SCHEDULE J PART II OFFICERS, DIRECTORS, TRUSTEES, KEY EMPLOYEES AND HIGHEST COMPENSATED EMPLOYEES. BASE COMPENSATION (COLUMN B(i)) WAS REDUCED TO ACTUAL BASE COMPENSATION. AMERICAN EAGLE FINANCIAL SERVICES 417 MAIN STREET EAST HARTFORD CT 06118 061552551 FINANCIAL CONSULTING SERVICES CT 3405 485232 AMERICAN EAGLE FINANCIAL CU