2017-11-13T09:29:04-06:00 2016-12-31 WOLF & COMPANY PC 99 HIGH STREET 21ST FLOOR BOSTON MA 02110 990 2016-01-01 042128094 St Anne's Credit Union of Fall River % PETER PANAGGIO CFO STAN 5083247300 286 Oliver Street Fall River MA 027242998 PETER PANAGGIO cfo 5083247478 2017-11-13 true Michael J Rowe CPA P00535831 6174399700 2017-11-10 74.92.33.29 04102520173175000003 2017-11-13 P FC2C3B3E33F5728E88F8F1C970CCBE89E423E2A2 AB4632533840A799C2F045CE9F5D9B6D33CBA32F 2016 2021-01-29 14:40:06Z PETER PANAGGIO 286 Oliver Street Fall River MA 027242998 100195749 false X N/A X 1935 MA ST ANNES CREDIT UNION MISSION IS TO PROVIDE A SOUND, CHECKING, SAVINGS, INVESTMENTS AND RETIREMENT ACCOUNTS, WITH OUR WIDE SELECTION OF HOME FINANCING PROGRAMS. 10 7 215 10 0 0 0 22254494 23648572 1953149 2320245 4048075 4076326 28255718 30045143 0 0 0 0 9964785 10218679 0 0 0 15365043 15073253 25329828 25291932 2925890 4753211 861107075 887752617 780630256 802601840 80476819 85150777 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. false false St. Anne's Credit Union is a Cooperative Owned, directed by, and dedicated to its members. At the end of 2016, The Credit Union had $741 Million share accounts, $737 Million in loans to members false false false false false false false true false true false false false true false true false false false false false false false false false false false false true false true false false false false false false false false false false false false true 27307 0 true 215 true false false false false false false X 10 7 false false true false true true true true true false false false true true true true true true false false X PETER PANAGGIO CFO 5083247478 286 OLIVER STREET FALL RIVER MA 027242998 ALBERT MERCIER director 1.0 0.0 X 0 0 4444 WILLIAM R BOUCHARD Chairman of the board 1.0 0.0 X 21300 0 3792 JOSEPH R J CASTONGUAY DIRECTOR 1.0 0.0 X 0 0 4944 JOSEPH V BENEVIDES JR DIRECTOR 1.0 0.0 X 396 0 5186 BRUCE E FERNANDES DIRECTOR 1.0 0.0 X 396 0 5186 SIMONE GARANT Director\treasurer\Clerk 1.0 0.0 X X 13769 0 3923 JOHN R LEDWIDGE Director/Vice Chairman 1.0 0.0 X 16207 0 18551 COLLEEN BRADY O'NEIL DIRECTOR 1.0 0.0 X 138 0 5186 BERNARD J MCDONALD III DIRECTOR 1.0 0.0 X 258 0 3644 Kevin Fitzpatrick Director 1.0 0.0 X 215 0 5186 Eileen Danahey President/ CEO 40.0 0.0 X 343278 0 98975 John Caliguri Senior Vice Lending 40.0 0.0 X 174225 0 15402 Robert J Camara Chief Financial Officer 40.0 0.0 X 168925 0 15330 Tim Souza Loan Originator 40.0 0.0 X 131807 0 14483 Rico A Conforti Loan Originator 40.0 0.0 X 233711 0 7260 Jean Correia Loan Originator 40.0 0.0 X 213561 0 7033 Gerald F Rego VP Commercial Lending 40.0 0.0 X 148678 0 15181 Martin E Treadup Loan Originator 40.0 0.0 X 230350 0 1293 1697214 0 234999 8 false true false COLLINS CONSTRUCTION CO INC 33 SWINDELLS ST FALL RIVER MA 02723 CONSTRUCTION 1707381 CENTURY PAVING CONSTRUCTION CORP 167 HYACINTH STREET FALL RIVER MA 02720 construction/paving 220597 SUNDIN ASSOCIATES INC 34 MAIN STREET 3RD FLOOR NATICK MA 01760 MARKETING 374989 FISERV 255 FISERV DRIVE BROOKFIELD WI 53045 technology solutions 2312293 RED HAWK FIRE SECURITY PO BOX 677671 DALLAS TX 75267 equip & maintenance 501240 11 0 MEMBER LOAN INTEREST 23648572 23648572 23648572 1432851 1432851 0 0 4078 4078 0 4078 4078 10000000 61038000 9999121 60151485 879 886515 887394 887394 0 0 0 0 0 0 0 0 0 OTHER LOAN FEES 364867 364867 CUSTOMER SERVICE FEES 3434727 3434727 SAFE DEPOSIT FEES 101839 101839 170815 170815 4072248 30045143 27724898 2320245 0 0 0 0 739109 0 6632624 723455 1506108 617383 0 273009 191835 0 0 0 392644 811387 1049179 2301118 0 1583912 37817 0 116015 4543987 0 1378180 75925 ATM & BANK CHARGES 909595 LOAN LOSS PROVISION 455000 LOAN EXPENSES 110297 LOSSES & RECOVERIES 138986 704367 25291932 5028704 4137712 59721611 33615987 0 0 0 0 0 0 0 0 671915663 737032685 0 0 488898 364638 27010067 11417538 14109896 15592529 90992136 76456617 0 0 0 0 0 0 18850167 20552449 861107075 887752617 1346780 1466144 0 0 0 0 0 0 1974285 2150902 0 0 0 0 0 0 777309191 798984794 780630256 802601840 X 0 0 0 0 80476819 85150777 80476819 85150777 861107075 887752617 X 4753211 -237884 158631 X false true X true false true X 3706096 3706096 15004154 7856393 7147761 1692946 1015288 677658 3125108 2004224 1120884 3481764 541634 2940130 15592529 0 CREDIT UNION MEMBER DEPOSITS 741375237 FNMA CUSTODIAL 256232 OTHER LIABILITIES 353325 FHLB ADVANCES 57000000 798984794 30041065 30041065 4078 4078 30045143 25287854 -4078 -4078 25291932 25291932 SCHEDULE D PAGE 4 PART XI LINE 4B - Reclass of rental income For 990 reporting purposes, income from rents which is reported as an adjustment to related occupancy expenses for audit purposes is reclassed to income. $4,078 SCHEDULE D PAGE 4 PART XII LINE 2D - Reclass of rental income For 990 reporting purposes, income from rents which is reported as an adjustment to related occupancy expenses for audit purposes is reclassed to income. $4,078 SCHEDULE D PART IV LINE 2(B) - Escrow accounts 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. X true true X X false true false John Caliguri Senior Vice Lending 174225 0 0 0 0 0 0 0 15402 0 189627 0 0 0 Robert J Camara Chief Financial Officer 168925 0 0 0 0 0 0 0 15330 0 184255 0 0 0 Rico A Conforti Loan Originator 233711 0 0 0 0 0 0 0 7260 0 240971 0 0 0 Jean Correia Loan Originator 213561 0 0 0 0 0 0 0 7033 0 220594 0 0 0 Gerald F Rego VP Commercial Lending 148678 0 0 0 0 0 0 0 15181 0 163859 0 0 0 Martin E Treadup Loan Originator 230350 0 0 0 0 0 0 0 1293 0 231643 0 0 0 Eileen Danahey President/ CEO 343278 0 0 0 0 0 85000 0 13975 0 442253 0 0 0 Schedule J Page 1 Part I Line 4B - 457 plans 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 bligations. Total expense in connection with the agreement for the years ended December 31, 2016 and 2015 amounted to $85,000 and $31,667, respectively. Loans to Officers and Directors and their affiliates In the ordinary course of business, the credit union has granted loans to officers and directors and their affiliates. Such loans amounted to $1,119,000 and $1,382,000 at December 31, 2016, and 2015, respectively. Part IV, Line 26 - Officer Loans Some of the officers and directors have loans outstanding with the Credit Union. Theses loans were made in the ordinary course of business of the Credit Union on the same terms available to all members. Part VI, Section A, Lines 6, 7A, & 7B - Members 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. Line 7a & 7b - The members vote for the board of directors at the annual meeting and for all business presented at the annual meeting. Part VI, Section B, Line 11 - Reviiew of From 990 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. Part VI, Section B, Lines 12A, 12B & 12C - Conflict of Interest Policy 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. Part VI, Section B, Line 15A - Board of Approval of Officers Salary The board approves the employment contract of the CEO after review of CEO's performance and other criteria. Part VI, Section C, Line 19 - Public Access to Corporate Governance Documents The organizational governing documents, financial statements and Form 990 are available upon request to the general public. Part XI, Line 9 - Other Changes to Net Assets Net Change in gain/loss and transition Obligation on defined benefit plan FAS 158 158,631 Part VI, Section A, Line 4 - changes to governing documents Amendment to Article II, section I of the by-laws Article II. Membership and Sphere of Operation Section I: Membership in this credit union is open to people who reside, work, attend school, or have a place of business in: (i) the Massachusetts counties of Barnstable, Bristol, and Plymouth; (ii) the Rhode island counties of bristol, newport, and providence; and (iii) the following additional towns in Rhode island: Coventry East Greenwich Warwick West Warwick North Kingstown Also eligible for membership are family members of such persons and organizational members. "Family members" is defined as spouse, son, daughter, mother, father, sister, brother, niece, nephew, aunt, uncle, grandmother, and grandfather. "School" is defined as any accredited public or private college, university, high school, elementary school, or vocational school.