2013-04-15T08:23:35-05:00 2012-12-31 060903326 WHITTLESEY & HADLEY PC 147 CHARTER OAK AVE HARTFORD CT 061065100 990 2012-01-01 050255222 WESTERLY COMMUNITY CREDIT UNION WEST 4015967000 15 GRAY LANE ASHAWAY RI 02804 ROBERT FALSO 4015967000 2013-04-11 1 BARBARA J SNYDER CPA P00621730 8605223111 2012 2016-02-25 16:41:14Z ROBERT FALSO 15 GRAY LANE ASHAWAY RI 02804 20808213 0 X WWW.WESTERLYCCU.COM X CREDIT UNION 1948 RI FINANCIAL SERVICES 12 12 78 0 0 0 0 0 10276509 9924498 1360597 832356 0 0 11637106 10756854 0 0 0 0 4068850 4205495 0 0 0 7475309 6340979 11544159 10546474 92947 210380 210540210 215449318 195586165 199216938 14954045 16232380 TO PROVIDE LOW COST FINANCIAL SERVICES TO THE CREDIT UNION OWNER DEPOSITORS 0 0 MAINTENANCE OF MEMBERS' DEPOSIT ACCOUNT AND THE PAYMENT OF INTEREST AND DIVIDENDS 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 5496 0 1 78 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 1 1 1 1 1 0 1 1 1 1 0 0 1 1 1 1 0 X ROBERT FALSO 4015967000 15 GRAY LANE ASHAWAY RI 02804 ROBERT DELANEY 1.00 X 9050 0 0 RUTH FOSTER-MORGAN 1.00 X 9050 0 0 SHEILA BEATTIE 1.00 X 4300 0 0 JAMES GLEASON 1.00 X 7850 0 0 SEAN MCGILL 1.00 X 5650 0 0 MELISSA HILL-BUSCH 1.00 X 7850 0 0 WILLIAM HORNE 1.00 X 12650 0 0 JOSEPH LIMANI 1.00 X 7850 0 0 DANNY NESMITH 1.00 X 9050 0 0 WILLIAM QUIRK 1.00 X 7850 0 0 DAVID SAYLES 1.00 X 7850 0 0 STEPHEN SCALES 1.00 X 10850 0 0 JOSEPH RITACCO 1.00 X 7300 0 0 PETER STEFANSKI 1.00 X 6550 0 0 PAUL MARSIGLIO 1.00 X 5650 0 0 DAWN SMITH 1.00 X 5650 0 0 M ELIZABETH FUSCO 1.00 X 3500 0 0 PETER GRIGGS 1.00 X 1900 0 0 ROBERT FALSO 40.00 X 124413 0 0 STEPHEN WHITE 40.00 X 187305 0 0 442118 0 0 2 0 1 0 0 INTEREST INCOME ON LOA 522291 8385390 8385390 MEMBER SERVICE FEES 525990 1539108 1539108 9924498 603219 603219 8216290 2064206 8168107 1883252 48183 180954 229137 229137 10756854 10756854 0 0 311718 2796091 440376 384793 272517 18898 58642 63674 281149 741436 509554 1298172 1321945 PROVISION FOR LOAN LOSS 1082987 LOAN SERVICING EXP 353315 OTHER 305150 NCUSIF STABILIZATION 177649 128408 10546474 6236869 5034401 1467913 1646032 600110 568341 172201191 185014866 15067072 9401615 6153923 5665457 18507994 12701715 5372210 4818506 210540210 215449318 2330710 1161383 9468308 8402598 183787147 189652957 195586165 199216938 X 0 0 0 0 14954045 16232380 14954045 16232380 210540210 215449318 X 210380 287356 780599 X X 1 X 1 X 1 0 1178154 1178154 8170863 4697326 3473537 428323 135993 292330 5289732 4568296 721436 5665457 AFS SECURITIES 11858815 F FHLB STOCK 842900 C 12701715 MEMBERS' SHARE AND SAVINGS ACCTS 189652957 189652957 10756854 0 10756854 0 10756854 10546474 0 10546474 0 10546474 X 0 0 0 STEPHEN WHITE 187305 0 0 0 0 0 0 0 0 0 187305 0 0 0 W HORNE X 150000 124654 0 1 1 J LIMANNI X 50000 0 0 1 1 J LIMANNI X 75000 52471 0 1 1 W QUIRK X 175000 157133 0 1 1 W QUIRK X 19080 0 0 1 1 W QUIRK X 50000 49284 0 1 1 D SAYLES X 113000 73042 0 1 1 D SAYLES X 25000 0 0 1 1 S WHITE X 80000 79244 0 1 1 S WHITE X 270000 200825 0 1 1 S SCALES X 19540 15634 0 1 1 752287 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS OWNED BY ITS MEMBER DEPOSITORS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS ELECT THE BOARD OF DIRECTORS AND RATIFY THEIR ACTIONS AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS MUST APPROVE MERGERS AT THE CREDIT UNION. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY MANAGEMENT PRIOR TO ITS FILING AND COPIES ARE PROVIDED TO THE BOARD OF DIRECTORS AT THE SUBSEQUENT MEETING. FORM 990, PART VI, SECTION B, LINE 15 OFFICER SALARIES ARE APPROVED ANNUALLY BY THE BOARD OF DIRECTORS FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES THESE FORMS AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: NET CHANGE IN MINIMUM PENSION LIABILITY 780,599. NO CHANGES TO PROCESS FROM PRIOR YEAR