2018-10-31T14:21:18-05:00 2017-12-31 042689883 WOLF & COMPANY PC 99 HIGH STREET 21ST FLOOR BOSTON MA 02110 990 2017-01-01 042128094 ST ANNE'S CREDIT UNION OF FALL RIVER STAN 5083247300 286 OLIVER STREET FALL RIVER MA 027242998 PETER PANAGGIO CFO 5083247300 2018-10-08 1 HARRY A KALAJIAN JR CPA P00464296 6174399700 38.97.84.98 2018-10-31 12:40:31 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 3035F85F9C36F92B25132AD5EF9C80758CB5F135 2017 2019-02-21 02:37:17Z PETER PANAGGIO 286 OLIVER STREET FALL RIVER MA 027242998 32392346 0 X N/A X 1935 MA PROVIDE A SOUND, CHECKING, SAVINGS, INVESTMENTS AND RETIREMENT ACCOUNTS, WITH OUR WIDE SELECTION OF HOME FINANCING PROGRAMS. 10 7 209 10 0 0 0 0 23648572 26037169 2320245 2240246 4076326 4114931 30045143 32392346 0 0 0 0 10218679 10362032 0 0 0 15073253 16080953 25291932 26442985 4753211 5949361 887752617 929273516 802601840 837956335 85150777 91317181 X ST ANNE'S CREDIT UNION'S MISSION IS TO PROVIDE A SOUND, SAFE PLACE FOR CHECKING, SAVINGS, INVESTMENTS AND RETIREMENT ACCOUNTS, WITH OUR WIDE SELECTION OF HOME FINANCING PROGRAMS, ST. ANNE'S CREDIT UNION IS THE NUMBER ONE CREDIT UNION MORTGAGE LENDER IN BRISTOL COUNTY. WE ALSO PROVIDE FIANANCING FOR NEW AND USED CARS, TRUCKS, AND VANS, HIGHER EDUCATION, MAJOR PURCHASES, HOME IMPROVEMENTS, AND MORE. ST. ANNE'S CREDIT UNION IS A LOCAL FINANCIAL INSTITUTION WITH DEEP ROOTS IN THE AREA AND SINCERELY CARES ABOUT OUR MEMBERS WHO ARE OUR OWNERS. 0 0 ST. ANNE'S CREDIT UNION IS A COOPERATIVE OWNED, DIRECTED BY, ANDDEDICATED TO ITS MEMBERS. AT THE END OF 2017, THE CREDIT UNIONHAD $765 MILLION SHARE ACCOUNTS, $782 MILLION IN LOANS TO MEMBERS 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 27576 0 1 209 1 0 0 0 0 0 0 X 10 7 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 0 0 X PETER PANAGGIO CFO 5083247478 286 OLIVER STREET FALL RIVER MA 027242998 ALBERT MERCIER DIRECTOR 1.00 X 0 0 4444 WILLIAM R BOUCHARD CHAIRMAN OF THE BOARD 1.00 X 21762 0 4759 JOSEPH R J CASTONGUAY DIRECTOR 1.00 X 0 0 5068 JOSEPH V BENEVIDES JR DIRECTOR 1.00 X 396 0 685 BRUCE E FERNANDES DIRECTOR 1.00 X 396 0 5680 SIMONE GARANT DIRECTOR\TREASURER\CLERK 1.00 X X 14000 0 3994 JOHN R LEDWIDGE DIRECTOR/VICE CHAIRMAN 1.00 X 17310 0 5542 COLLEEN BRADY O'NEIL DIRECTOR 1.00 X 138 0 685 BERNARD J MCDONALD III DIRECTOR 1.00 X 258 0 4468 KEVIN FITZPATRICK DIRECTOR 1.00 X 258 0 5680 EILEEN DANAHEY PRESIDENT/ CEO 40.00 X 441543 0 195806 JOHN CALIGURI SENIOR VICE LENDING 40.00 X 195828 0 15804 PETER PANAGGIO SVP/CFO 40.00 X 175881 0 13507 RICO A CONFORTI LOAN ORIGINATOR 40.00 X 163475 0 7007 JEAN CORREIA LOAN ORIGINATOR 40.00 X 131727 0 6775 GERALD F REGO VP COMMERCIAL LENDING 40.00 X 161757 0 15614 MARTIN E TREADUP LOAN ORIGINATOR 40.00 X 182991 0 1299 DEBORAH DION VP INFORMATION SERVICES 40.00 X 152057 0 14887 1659777 0 311704 10 0 1 0 FISERV 255 FISERV DRIVE BROOKFIELD WI 53045 TECHNOLOGY SOLUTIONS 2475617 COLLINS CONSTRUCTION CO INC 33 SWINDELLS ST FALL RIVER MA 02723 CONSTRUCTION 956175 WB MASON PO BOX 981101 BOSTON MA 02298 STATIONARY & SUPPLIES 283995 CFS PO BOX 1204 NORTON MA 02766 STATIONARY & SUPPLIES 258556 BARABY CORP 660 JEFFERSON ST FALL RIVER MA 02721 ELECTRICAL SERVICES 220035 17 MEMBER LOAN INTEREST 525900 26037169 26037169 26037169 1652514 1652514 17333 0 17333 17333 17333 587732 0 587732 587732 587732 CUSTOMER SERVICE FEES 525900 3367466 3367466 OTHER LOAN FEES 525900 464077 464077 SAFE DEPOSIT FEES 525900 103063 103063 162992 162992 4097598 32392346 30152100 0 2240246 867770 6877916 748417 1247869 620060 196037 163373 380199 753930 1006777 2652949 1789428 37881 149132 4356719 1505951 82988 ATM & BANK CHARGES 886179 LOAN LOSS PROVISION 875000 OREO EXPENSES 115611 LOSSES & RECOVERIES 111514 1017285 26442985 4137712 3642246 33615987 52673739 737032685 782082747 364638 181134 28515016 12290182 15592529 16224834 76456617 54652368 20552449 19816448 887752617 929273516 1466144 1615785 2150902 2145952 798984794 834194598 802601840 837956335 X 0 0 0 0 85150777 91317181 85150777 91317181 887752617 929273516 X 5949361 -65385 282428 X X 0 1 X 1 0 0 1 X 3706096 3706096 17904089 8006516 9897573 2062552 1185016 877536 4114802 2481975 1632827 727477 616675 110802 16224834 CREDIT UNION MEMBER DEPOSITS 765160782 FNMA CUSTODIAL 297353 OTHER LIABILITIES 174259 FHLB ADVANCES 68562204 834194598 X 32375013 0 32375013 17333 17333 32392346 26425652 -17333 -17333 26442985 0 26442985 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, 2017 OR 2016. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL INCOME RECLASS FROM EXPENSE TO REVENUE 17,333. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL INCOME RECLASS FROM EXPENSE TO REVENUE -17,333. X 1 1 X X 0 1 0 EILEEN DANAHEY PRESIDENT/ CEO 441543 0 0 0 0 0 180000 0 15806 0 637349 0 0 0 JOHN CALIGURI SENIOR VICE LENDING 195828 0 0 0 0 0 0 0 15804 0 211632 0 0 0 PETER PANAGGIO SVP/CFO 175881 0 0 0 0 0 0 0 13507 0 189388 0 0 0 RICO A CONFORTI LOAN ORIGINATOR 163475 0 0 0 0 0 0 0 7007 0 170482 0 0 0 GERALD F REGO VP COMMERCIAL LENDING 161757 0 0 0 0 0 0 0 15614 0 177371 0 0 0 MARTIN E TREADUP LOAN ORIGINATOR 182991 0 0 0 0 0 0 0 1299 0 184290 0 0 0 DEBORAH DION VP INFORMATION SERVICES 152057 0 0 0 0 0 0 0 14887 0 166944 0 0 0 PART I, LINE 4B 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. TOTAL EXPENSE IN CONNECTION WITH THE AGREEMENT FOR THE YEARS ENDED DECEMBER 31, 2017 AND 2016 AMOUNTED TO $180,000 AND $85,000, RESPECTIVELY. ADVANCED ALARM SYSTEMS KEVIN FITZPATRICK, DIRECTOR 149687 KEVIN FITZPATRICK, DIRECTOR OF THE CREDIT UNION, IS ALSO THE GENERAL MANAGER OF THE ADVANCED ALARM SYSTEMS. AVDANCED ALARM SYSTEMS PROVIDES ALARM SERICES TO THE CREDIT UNION. 0 PART IV, LINE 26 - OFFICER LOANS SOME OF THE OFFICERS AND DIRECTORS HAVE LOANS OUTSTANDING WITH THE CREDIT UNION. THESE LOANS WERE MADE IN THE ORDINARY COURSE OF BUSINESS OF THE CREDIT UNION ON THE SAME TERMS AVAILABLE TO ALL MEMBERS. 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 BARNSTABLE, BRISTOL, AND PLYMOUTH; THE RHODE ISLAND COUNTIES OF BRISTOL, NEWPORT, AND PROVIDENCE; AND THE FOLLOWING ADDITIONAL TOWNS IN RHODE ISLAND: COVENTRY, EAST GREANWICH, 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 158 282,428. FORM 990, PART XII, LINE 2C: THERE WAS NO CHANGE IN THE OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR 2017.