NAVIGANT CREDIT UNION: Form 990, tax year 2010
View the entire original 990 at ProPublica ↗
- Organization
- NAVIGANT CREDIT UNION (EIN 05-0125860)
- Tax period
- 2010-01-01 to 2010-12-31
- Filed
- 2011-07-20
- IRS object ID
- 201102019349300205
- Schema version
- 2010v3.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2011-07-20T08:36:26-05:00 | Timestamp |
| Tax Period End Date | 2010-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WOLF & COMPANY PC | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 99 HIGH STREET 21ST FLOOR | AddressLine1 |
| City | BOSTON | City |
| State | MA | State |
| ZIP Code | 02110 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2010-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 050125860 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NAVIGANT CREDIT UNION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | NAVI | NameControl |
| Phone | 4012334304 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1005 DOUGLAS PIKE | AddressLine1 |
| City | SMITHFIELD | City |
| State | RI | State |
| ZIP Code | 029171206 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Daniel j O'Brien | Name |
| Title | Chief Financial Officer | Title |
| Phone | 4012334304 | Phone |
| Date Signed | 2011-07-07 | DateSigned |
| Authorize Third Party | true | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Michael J Rowe CPA | Name |
| Phone | 6174399700 | Phone |
| Date Prepared | 2011-07-06 | DatePrepared |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2010 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | Daniel J O'Brien | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1005 Douglas Pike | AddressLine1 |
| City | Smithfield | City |
| State | RI | State |
| ZIP Code | 029171206 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 54179578 | GrossReceipts |
| Group Return For Affiliates | false | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | N/A | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1915 | YearFormation |
| State Legal Domicile | RI | StateLegalDomicile |
| Activity Or Mission Description | THE MISSION OF NAVIGANT CREDIT UNION IS TO IMPROVE THE FINANCIAL LIVES OF ITS MEMBERS. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 11 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 10 | NbrIndependentVotingMembers |
| Total Nbr Employees | 246 | TotalNbrEmployees |
| Total Nbr Volunteers | 0 | TotalNbrVolunteers |
| Total Gross UBI | 268760 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | -112311 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 0 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 41451232 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 40271966 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 10676330 | InvestmentIncomePriorYear |
| Investment Income Current Year | 12304846 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 0 | OtherRevenuePriorYear |
| Other Revenue Current Year | 0 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 52127562 | TotalRevenuePriorYear |
| Total Revenue Current Year | 52576812 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 0 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 13648457 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 14470762 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 36390628 | OtherExpensePriorYear |
| Other Expenses Current Year | 32882238 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 50039085 | TotalExpensesPriorYear |
| Total Expenses Current Year | 47353000 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 2088477 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 5223812 | RevenuesLessExpensesCY |
| Total Assets BOY | 1157362905 | TotalAssetsBOY |
| Total Assets EOY | 1216663593 | TotalAssetsEOY |
| Total Liabilities BOY | 1008470934 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 1062352258 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 148891971 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 154311335 | NetAssetsOrFundBalancesEOY |
| Mission Description | NAVIGANT CREDIT UNION IS MEMBER OWNED AND OPERATED. THE MISSION OF NAVIGANT CREDIT UNION IS TO IMPROVE THE FINANCIAL LIVES OF ITS MEMBERS. IT DOES SO BY RESPONDING TO THE MEMBERS WITH THE VALUE THEY NEED AND THE CARING PERSONAL SERVICE THEY DESRVE. THIS IS ACCOMPLISHED BY PROVIDING COMPETITIVE LOAN AND DEPOSIT RATES AS WELL AS OTHER SERVICES OUR MEMBERS SEEK IN MANAGING THEIR FINANCES, DELIVEREED BY A KNOWLEDGEABLE AND FRIENDLY STAFF. | MissionDescription |
| Significant New Program Services | false | SignificantNewProgramServices |
| Significant Change | false | SignificantChange |
| Description | THE CREDIT UNION IS A COOPERATIVE OWNED AND DIRECTED BY AND DEDICATED TO SERVING ITS MEMBERS. THE CREDIT UNION HAS 14,358 loans totalling $719,635,916 DUE FROM MEMBERS AND $929,033,739 IN 93,801 Deposit ACCOUNTS FROM MEMBERS. ALSO $103,752 OF FEES WERE RECEIVED From MEMBERS RENTING 4,327 SAFE DEPOSIT BOXES | Description |
| Described In501 C3 | false | DescribedIn501C3 |
| Schedule B Required | false | ScheduleBRequired |
| Political Activities | false | PoliticalActivities |
| Donor Advised Funds | false | DonorAdvisedFunds |
| Conservation Easements | false | ConservationEasements |
| Collections Of Art | false | CollectionsOfArt |
| Credit Counseling | false | CreditCounseling |
| Term Or Permanent Endowments | false | TermOrPermanentEndowments |
| Report Land Bldg Equip | true | ReportLandBldgEquip |
| Report Invest Oth Securities | false | ReportInvestOthSecurities |
| Report Prog Rel Invest | false | ReportProgRelInvest |
| Report Other Assets | false | ReportOtherAssets |
| Report Other Liabilities | true | ReportOtherLiabilities |
| Report Fin48 Footnote | false | ReportFin48Footnote |
| Independent Audit Financial Stmt | true | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | false | ConsolidatedAuditFinancialStmt |
| School | false | School |
| Foreign Office | false | ForeignOffice |
| Foreign Activities | false | ForeignActivities |
| More Than5000 K To Organizations | false | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividuals |
| Professional Fundraising | false | ProfessionalFundraising |
| Fundraising Activities | false | FundraisingActivities |
| Gaming | false | Gaming |
| Hospital | false | Hospital |
| Grants To Organizations | false | GrantsToOrganizations |
| Grants To Individuals | false | GrantsToIndividuals |
| Schedule J Required | true | ScheduleJRequired |
| Tax Exempt Bonds | false | TaxExemptBonds |
| Loan To Officer Or DQP | false | LoanToOfficerOrDQP |
| Grant To Related Person | false | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | false | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | true | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | true | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | false | DeductibleNonCashContributions |
| Deductible Contributions Of Art | false | DeductibleContributionsOfArt |
| Terminated | false | Terminated |
| Partial Liquidation | false | PartialLiquidation |
| Disregarded Entity | false | DisregardedEntity |
| Related Entity | false | RelatedEntity |
| Related Org Controlled Entity | false | RelatedOrgControlledEntity |
| Transaction Related Entity | false | TransactionRelatedEntity |
| Activities Conducted Partnership | false | ActivitiesConductedPartnership |
| Schedule O Required | true | ScheduleORequired |
| Number Forms Transmitted With1096 | 28471 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | true | ComplianceWithBackupWitholding |
| Number Of Employees | 246 | NumberOfEmployees |
| Employment Tax Returns Filed | true | EmploymentTaxReturnsFiled |
| Unrelated Business Income | true | UnrelatedBusinessIncome |
| Form990-T Filed | true | Form990-TFiled |
| Foreign Financial Account | false | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTrans |
| Taxable Party Notification | false | TaxablePartyNotification |
| Non Deductible Contributions | false | NonDeductibleContributions |
| Indoor Tanning Services | false | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 11 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 10 | NumberIndependentVotingMembers |
| Family Or Business Relationship | false | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | false | DelegationOfManagementDuties |
| Changes To Organizing Docs | true | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuse |
| Members Or Stockholders | true | MembersOrStockholders |
| Election Of Board Members | true | ElectionOfBoardMembers |
| Decisions Subject To Approval | true | DecisionsSubjectToApproval |
| Minutes Of Governing Body | true | MinutesOfGoverningBody |
| Minutes Of Committees | true | MinutesOfCommittees |
| Officer Mailing Address | false | OfficerMailingAddress |
| Local Chapters | false | LocalChapters |
| Form990 Provided To Governing Body | true | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | true | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | true | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | true | RegularMonitoringEnforcement |
| Whistleblower Policy | true | WhistleblowerPolicy |
| Document Retention Policy | true | DocumentRetentionPolicy |
| Compensation Process CEO | true | CompensationProcessCEO |
| Compensation Process Other | true | CompensationProcessOther |
| Investment In Joint Venture | false | InvestmentInJointVenture |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | DANIEL J O'BRIEN | NamePerson |
| Telephone Number | 4012334304 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1005 DOUGLAS PIKE | AddressLine1 |
| City | SMITHFIELD | City |
| State | RI | State |
| ZIP Code | 029171206 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (56 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | OfficerOfficer | Key EmployeeKeyEmployee | Highest Compensated EmployeeHighestCompensatedEmployee | FormerFormer |
|---|---|---|---|---|---|---|---|---|---|
| PAUL BEAUDOIN | |||||||||
| Supervisory Committee | 1.0 | X | 12225 | 0 | 0 | ||||
| WILLAM S CARDEN | |||||||||
| DIRECTOR | 1.0 | X | 20686 | 0 | 0 | ||||
| DONALD CHEVRETTE | |||||||||
| Credit Committee | 4.0 | X | 13287 | 0 | 0 | ||||
| STEPHEN CROSS | |||||||||
| Supervisory Committee | 1.0 | X | 9000 | 0 | 0 | ||||
| CHARLES DEBLOIS | |||||||||
| DIRECTOR | 1.0 | X | 31928 | 0 | 0 | ||||
| ALFRED DEGEN | |||||||||
| VICE CHAIRMAN | 1.0 | X | 21650 | 0 | 0 | ||||
| ANN KASHMANIAN | |||||||||
| DIRECTOR | 1.0 | X | 12150 | 0 | 0 | ||||
| ROLAND LACHAPELLE | |||||||||
| DIRECTOR | 1.0 | X | 26953 | 0 | 0 | ||||
| JOHN MAYNARD | |||||||||
| DIRECTOR/SECRETARY | 1.0 | X | 27661 | 0 | 0 | ||||
| CATHERINE PARENTE | |||||||||
| DIRECTOR | 1.0 | X | 18567 | 0 | 0 | ||||
| MAURICE RHAULT | |||||||||
| Credit Committee | 4.0 | X | 20686 | 0 | 0 | ||||
| GARY FURTADO | |||||||||
| PRESIDENT TREASURER | 40.0 | X | 383205 | 0 | 229249 | X | X | ||
| JOSEPH BERETTA | |||||||||
| DIRECTOR | 1.0 | X | 12450 | 0 | 0 | ||||
| ROBERT MURRAY | |||||||||
| Supervisory Committee | 1.0 | X | 12000 | 0 | 0 | ||||
| MICHAEL RYAN | |||||||||
| DIRECTOR | 1.0 | X | 12075 | 0 | 0 | ||||
| JEAN M RYAN | |||||||||
| SUPERVISORY COMMITTEE | 1.0 | X | 9000 | 0 | 0 | ||||
| LISA DANDENEAU | |||||||||
| SVP COO | 40.0 | 173786 | 0 | 39147 | X | X | |||
| TIMOTHY DRAPER | |||||||||
| VICE PRESIDENT | 40.0 | 104826 | 0 | 19243 | X | ||||
| DANIEL O BRIEN | |||||||||
| SVP CFO | 40.0 | 179003 | 0 | 38556 | X | X | |||
| FRED REINHARDT | |||||||||
| SVP CLO | 40.0 | 160450 | 0 | 38047 | X | X | |||
| ROBERT VILLUCCI | |||||||||
| VICE PRESIDENT | 40.0 | 102432 | 0 | 19159 | X | X | |||
| MELISSA A CARLTON | |||||||||
| VICE PRESIDENT | 40.0 | 114071 | 0 | 11469 | X | X | |||
| MARTHA CORREIA | |||||||||
| AVP | 40.0 | 70448 | 0 | 17827 | X | ||||
| JAMES FLAVIN | |||||||||
| AVP | 40.0 | 26874 | 0 | 7248 | X | ||||
| DAVID M DECUBELLIS | |||||||||
| VICE PRESIDENT | 40.0 | 63751 | 0 | 17437 | X | ||||
| KATHY ANTONELLI | |||||||||
| AVP | 40.0 | 81083 | 0 | 18290 | X | ||||
| JAMES CARNEY | |||||||||
| AVP | 40.0 | 102728 | 0 | 19156 | X | ||||
| PATRICIA CROSS | |||||||||
| AVP | 40.0 | 85231 | 0 | 5731 | X | ||||
| BRUCE LAVINE | |||||||||
| AVP | 40.0 | 86669 | 0 | 18554 | X | ||||
| MARY MALONEY | |||||||||
| AVP | 40.0 | 83981 | 0 | 18497 | X | ||||
| MONIQUE RIOUX | |||||||||
| AVP | 40.0 | 81653 | 0 | 18391 | X | ||||
| MANUELA ROCHA | |||||||||
| VICE PRESIDENT | 40.0 | 102748 | 0 | 19192 | X | ||||
| RANDALL SACILOTTO | |||||||||
| VICE PRESIDENT | 40.0 | 104065 | 0 | 19240 | X | ||||
| JEFFREY P CASCIONE | |||||||||
| VP | 40.0 | 112235 | 0 | 19549 | X | ||||
| STEPHEN P ORMEROD | |||||||||
| AVP | 40.0 | 103386 | 0 | 6456 | X | ||||
| JUDY FISCHBACH | |||||||||
| AVP | 40.0 | 101340 | 0 | 19114 | X | ||||
| KELLI BIENVENUE | |||||||||
| AVP | 40.0 | 78086 | 0 | 18248 | X | ||||
| SCOTT HAMMOND | |||||||||
| AVP | 40.0 | 77933 | 0 | 5560 | X | ||||
| KATHLEEN MARABELLO | |||||||||
| AVP | 40.0 | 79234 | 0 | 5419 | X | ||||
| BEVERLY MARTEL | |||||||||
| AVP | 40.0 | 989 | 0 | 2280 | X | ||||
| IRIA MOGAYZEL | |||||||||
| AVP | 40.0 | 68920 | 0 | 20157 | X | ||||
| CYNTHIA MORRA | |||||||||
| AVP | 40.0 | 69007 | 0 | 17832 | X | ||||
| MICHAEL TARTAGLIA | |||||||||
| AVP | 40.0 | 84896 | 0 | 18525 | X | ||||
| KAREN BALCH | |||||||||
| AVP | 40.0 | 76609 | 0 | 9949 | X | ||||
| JOANNE BAZ | |||||||||
| AVP | 40.0 | 73983 | 0 | 17909 | X | ||||
| STEPHEN GIANNINI | |||||||||
| AVP | 40.0 | 141330 | 0 | 20566 | X | ||||
| KATHLEEN OROVITZ | |||||||||
| SVP | 40.0 | 129002 | 0 | 20196 | X | ||||
| KENNETH SENUS | |||||||||
| AVP | 40.0 | 129002 | 0 | 20196 | X | ||||
| MARGARET GRIVERS | |||||||||
| AVP | 40.0 | 72930 | 0 | 17950 | X | ||||
| DESPINA IZZO | |||||||||
| AVP | 40.0 | 54711 | 0 | 3981 | X | ||||
| BRYCE JACKSON | |||||||||
| AVP | 40.0 | 72614 | 0 | 5228 | X | ||||
| JOSE V MONTEIRO | |||||||||
| AVP | 40.0 | 93282 | 0 | 18288 | X | ||||
| TIFFANY TALBERT | |||||||||
| AVP | 40.0 | 22397 | 0 | 15720 | X | ||||
| EILEEN TWEEDIE | |||||||||
| AVP | 40.0 | 41074 | 0 | 7704 | X | ||||
| CRAIG NARDI | |||||||||
| Mortgage Originator | 40.0 | 129733 | 0 | 12663 | X | ||||
| RICHARD B BESSETTE | |||||||||
| Director | 1.0 | 28433 | 0 | 0 | X | ||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 4208448 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 877923 | TotalOtherCompensation |
| Number Individuals GT100 K | 17 | NumberIndividualsGT100K |
| Formers Listed | true | FormersListed |
| Total Comp GT150 K | true | TotalCompGT150K |
| Compensation From Other Sources | false | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| FISERV | |||||
| 75 REMITTANCE DRIVE - SUITE 6944 | CHICAGO | IL | 606756944 | DATA PROCESSING | 774087 |
| DIGITAL INSIGHT CORPORATION | |||||
| PO BOX 515306 | LOS ANGELES | CA | 900516606 | ONLINE BANKING SERVI | 368879 |
| ANTHONY STEVEN WALSH DBA FRIENDS AN | |||||
| 35 NORTH BEND STREET | PAWTUCKET | RI | 02860 | JANITORIAL SERVICES | 338798 |
| D3 LOGIC | |||||
| 2220 PLAINFIELD PIKE | CRANSTON | RI | 02921 | STATEMENT RENDERING | 210492 |
| FTPS HOLDINGS LLC | |||||
| 5050 KINGSLEY DR | CINCINNATI | OH | 45263 | DEBit CARD PROCESSer | 475753 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 5 | NumberOfContractorsGT100K |
| Total Contributions | 0 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (4 entries)
| DescriptionDescription | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome | Business CodeBusinessCode | Unrelated Business RevenueUnrelatedBusinessRevenue |
|---|---|---|---|---|
| INTEREST ON LOANS | 36409281 | 36409281 | ||
| MEMBER SERVICE FEE | 2402144 | 2346566 | 525990 | 55578 |
| MISCELLANEOUS FEES | 1279941 | 1247359 | 525990 | 32582 |
| MFS FEES INCOME | 180600 | 524298 | 180600 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 40271966 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 10694220 | TotalRevenueColumn |
| Exclusion | $10,694,220 | ExclusionAmount |
Income From Invest Bond Proceeds IncomeFromInvestBondProceeds
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Royalties Revenue RoyaltiesRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 2391813 | Securities |
| Other | 821579 | Other |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 1602766 | Securities |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 789047 | Securities |
| Other | 821579 | Other |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 1610626 | TotalRevenueColumn |
Net Income From Fundraising Events NetIncomeFromFundraisingEvents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income From Gaming NetIncomeFromGaming
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income Or Loss NetIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 0 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 52576812 | TotalRevenueColumn |
| Related Or Exempt Function Income | 40003206 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 268760 | UnrelatedBusinessRevenue |
| Exclusion | $10,694,220 | ExclusionAmount |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Foreign Grants ForeignGrants
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Benefits To Members BenefitsToMembers
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4098200 | Total |
| Management And General | 4098200 | ManagementAndGeneral |
Comp Disqual Persons CompDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 5255912 | Total |
| Management And General | 5255912 | ManagementAndGeneral |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1412705 | Total |
| Management And General | 1412705 | ManagementAndGeneral |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2907691 | Total |
| Management And General | 2907691 | ManagementAndGeneral |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 796254 | Total |
| Management And General | 796254 | ManagementAndGeneral |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Lobbying FeesForServicesLobbying
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1015314 | Total |
| Management And General | 1015314 | ManagementAndGeneral |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1419107 | Total |
| Management And General | 1419107 | ManagementAndGeneral |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Royalties Royalties
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1577240 | Total |
| Management And General | 1577240 | ManagementAndGeneral |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 37605 | Total |
| Management And General | 37605 | ManagementAndGeneral |
Travel Entrtnmnt Public Officials TravelEntrtnmntPublicOfficials
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 119002 | Total |
| Management And General | 119002 | ManagementAndGeneral |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 16951603 | Total |
| Management And General | 16951603 | ManagementAndGeneral |
Payments To Affiliates PaymentsToAffiliates
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1611017 | Total |
| Management And General | 1611017 | ManagementAndGeneral |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Other Expenses OtherExpenses (5 entries)
| DescriptionDescription | TotalTotal | Management And GeneralManagementAndGeneral |
|---|---|---|
| PROVISION FOR LOAN LOSSES | 2105733 | 2105733 |
| MEMBER & NCUA INSURANCE | 2400456 | 2400456 |
| DATA PROCESSING EXPENSES | 1837339 | 1837339 |
| CORRESPONDENT SERVICES | 1177125 | 1177125 |
| STATE DEPOSIT TAX | 567370 | 567370 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2063327 | Total |
| Management And General | 2063327 | ManagementAndGeneral |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 47353000 | Total |
| Management And General | 47353000 | ManagementAndGeneral |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 15199598 | BOY |
| EOY | 10807956 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 56120705 | BOY |
| EOY | 42664989 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 685917660 | BOY |
| EOY | 716170210 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 33917408 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 11626439 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 23367630 | BOY |
| EOY | 22290969 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 348281026 | BOY |
| EOY | 399854860 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 28476286 | BOY |
| EOY | 24874609 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1157362905 | BOY |
| EOY | 1216663593 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 9624450 | BOY |
| EOY | 11777452 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 998846484 | BOY |
| EOY | 1050574806 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1008470934 | BOY |
| EOY | 1062352258 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Do Not Follow SFAS117 | X | DoNotFollowSFAS117 |
Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 148891971 | BOY |
| EOY | 154311335 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 148891971 | BOY |
| EOY | 154311335 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1157362905 | BOY |
| EOY | 1216663593 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 5223812 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | 195552 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | false | AccountantCompileOrReview |
| FS Audited | true | FSAudited |
| Audit Committee | true | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Art Public Exhibition Amts | ArtPublicExhibitionAmts | |
| Held Works Of Art Amts | HeldWorksOfArtAmts |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 5999900 | OtherCostOrOtherBasis |
| Book Value | 5999900 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 19875564 | OtherCostOrOtherBasis |
| Depreciation | 5424592 | Depreciation |
| Book Value | 14450972 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Leasehold Improvements | LeaseholdImprovements |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 7802294 | OtherCostOrOtherBasis |
| Depreciation | 6201847 | Depreciation |
| Book Value | 1600447 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 239650 | OtherCostOrOtherBasis |
| Book Value | 239650 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 22290969 | TotalOfBookValueLandBuildings |
| Federal Income Tax Liability | 0 | FederalIncomeTaxLiability |
Other Liabilities OtherLiabilities (4 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| DEPOSITS | $929,425,548 |
| MORTGAGORS ESCROW ACCOUNTS | $563,568 |
| ACCRUED INTEREST PAYABLE | $1,484,878 |
| BORROWINGS | $119,100,812 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 1050574806 | TotalOfAmounts |
| Total Revenue | 52576812 | TotalRevenue |
| Total Expenses | 47353000 | TotalExpenses |
| Excess Or Deficit For Year | 5223812 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | 635453 | NetUnrealizedGLOnInvestments |
| Other | -$439,901 | OtherAmount |
| Total Adjustments | 195552 | TotalAdjustments |
| Excess Or Deficit Per FS | 5419364 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 52576812 | TotRevenueEtcAuditedFinclStmt |
| Revenue Subtotal | 52576812 | RevenueSubtotal |
| Total Revenue Per Form990 | 52576812 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 47353000 | TotExpensesEtcAuditedFinclStmt |
| Expenses Subtotal | 47353000 | ExpensesSubtotal |
| Total Expenses Per Form990 | 47353000 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | Change in Pension per SFAS 158 | Identifier |
| Return Reference | Schedule D page 4 Part XI Line 8 | ReturnReference |
| Explanation | Change in actuarial loss, prior service costs and transition obligation SFAS 158 ($439,461) | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | X | TravelForCompanions |
| Club Dues Or Fees | X | ClubDuesOrFees |
| Written Policy Re T And E Expenses | true | WrittenPolicyReTAndEExpenses |
| Substantiation Required | true | SubstantiationRequired |
| Compensation Committee | X | CompensationCommittee |
| Independent Consultant | X | IndependentConsultant |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | false | SeverancePayment |
| Supplemental Nonqual Retire Plan | true | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | false | EquityBasedCompArrangement |
Form990 Schedule J Part II Form990ScheduleJPartII (6 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| RICHARD B BESSETTE | ||||||||||||
| 28433 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 28433 | 0 | 0 |
| LISA DANDENEAU | ||||||||||||
| 166250 | 0 | 0 | 0 | 7536 | 0 | 17500 | 0 | 21647 | 0 | 212933 | 0 | 0 |
| GARY FURTADO | ||||||||||||
| 315500 | 0 | 45000 | 0 | 22705 | 0 | 201679 | 0 | 27570 | 0 | 612454 | 0 | 0 |
| DANIEL O BRIEN | ||||||||||||
| 171750 | 0 | 0 | 0 | 7253 | 0 | 16800 | 0 | 21756 | 0 | 217559 | 0 | 0 |
| FRED REINHARDT | ||||||||||||
| 155000 | 0 | 0 | 0 | 5450 | 0 | 16800 | 0 | 21247 | 0 | 198497 | 0 | 0 |
| STEPHEN GIANNINI | ||||||||||||
| 140750 | 0 | 0 | 0 | 580 | 0 | 0 | 0 | 20566 | 0 | 161896 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | SCHEDULE J, PART 1, LINE 4B | Identifier |
| Return Reference | SCHEDULE J, PART 1, LINE 4B | ReturnReference |
| Explanation | LISA G. DANDENEAU - $15,800 GARY E. FURTADO - $191,845 DANIEL J. O'BRIEN - $15,800 FREDERICK REINHARDT, III - $15,800 | Explanation |
Schedule L IRS990ScheduleL
Form990 Schedule L Part IV Form990ScheduleLPartIV (2 entries)
| RelationshipRelationship | Description Of TransactionDescriptionOfTransaction | Sharing Of RevenuesSharingOfRevenues | Amount Of TransactionAmountOfTransaction |
|---|---|---|---|
| GARY FURTADO | |||
| Board member | Members United Corporate CU | false | |
| Jeff Cascione | |||
| Brother of law partner | Brennan, Recupero, Cascione | false | 4280 |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (9 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| SCHEDULE L PART II | SCHEDULE L PART II - LOANS TO/FROM INTERESTED PERSONS | THE CREDIT UNION GRANTS LOANS TO INTERESTED PERSONS (OFFICERS, DIRECTORS, TRUSTEES, KEY EMPLOYEES AND THE FIVE HIGHEST COMPENSATED EMPLOYEES) ON THE SAME TERMS AND CONDITIONS AS OFFERED TO OTHER MEMBERS OF THE CREDIT UNION. ACCORDINGLY, THERE ARE NO REPORTABLE TRANSACTIONS. |
| FORM 990 PART VI SECTION A LINE 10 | FORM 990 PART VI SECTION A LINE 10 | FORM 990 AND FORM 990-T ARE PREPARED BY THE CREDIT UNION'S EXTERNAL AUDIT FIRM, WOLF & COMPANY. THE FORMS ARE COMPLETED BASED UPON FINANCIAL DATA SUBJECT TO AUDIT BY WOLF & COMPANY AS WELL AS DETAIL INFORMATION PROVIDED BY THE CREDIT UNION. DETAILED REVIEWS OF FORM 990 AND 990-T ARE COMPLETED BY THE CREDIT UNION'S CFO TO INSURE THAT ALL INFORMATION PROVIDED IS ACCURATE AND THAT THE FINANCIAL INFORMATION AGREES TO THE AUDITED FINANCIAL STATEMENTS. A COPY OF FORMS 990 AND 990-T ARE AVAILABLE FOR REVIEW BY THE SUPERVISORY COMMITTEE AND THE BOARD OF DIRECTORS PRIOR TO THE FILING OF SAID FORMS. A REPORT OF THE RESULTS OF THE ANNUAL FINANCIAL AUDIT CONDUCTED BY WOLF & COMPANY IS MADE BY THE SUPERVISORY COMMITTEE TO THE BOARD OF DIRECTORS. THE REPORT INCLUDES THAT STATEMENT THAT THE FORMS 990 AND 990-T HAVE BEEN REVIEWED IN DETAIL BY THE CFO AND CEO OF THE CREDIT UNION PRIOR TO BEING FILED. |
| FORM 990 PART VI SECTION B LINE 12C | FORM 990 PART VI SECTION B LINE 12C | THE CREDIT UNION'S CORPORATE GOVERNANCE COMMITTEE MEETS PERIODICALLY DURING THE YEAR. THE MAIN FOCUS OF THE COMMITTEE IS THE CONDUCT OF BOARD AND COMMITTEE MEETINGS. TO THAT EXTENT, ANNUAL SELF ASSESSMENTS ARE PROVIDED FOR EACH MAJOR COMMITTEE AND THE BOARD OF DIRECTORS. COMMENTS SUGGESTING IMPROVEMENTS OR OTHER ISSUES RELATING TO THE OPERATION OF COMMITTEES ARE REVIEWED. STATEMENTS OF CHANGES THE COMMITTEE PLANS, IF ANY, TO ADDRESS OR REMEDIATE THE COMMENTS MADE ARE SOUGHT FROM THE RESPECTIVE COMMITTEES. FINDINGS OF THE COMMITTEE AND BOARD SELF ASSESSMENTS AND RESULTING CORRECTIVE ACTION TAKEN, IF NEEDED, ARE REPORTED ANNUALLY TO THE BOARD. IN ADDITION, AN ANNUAL UPDATE FROM THE CREDIT UNION'S LEGAL COUNSEL AS TO THE DUTIES AND RESPONSIBILITIES OF THE BOARD AND COMMITTEES IS CONDUCTED. |
| FORM 990 PART VI SECTION B LINES 15A AND 15B | FORM 990 PART VI SECTION B LINES 15A AND 15B | THE CREDIT UNION HAS A COMPENSATION COMMITTEE MADE UP OF MEMBERS OF THE CREDIT UNION'S BOARD OF DIRECTORS. ANNUALLY, THE COMMITTEE MEETS TO REVIEW SALARY INFORMATION PROVIDED BY A NUMBER OF CREDIT UNION AND BANKING SOURCES. IN ADDITION, THE COMMITTEE CONDUCTS THE ANNUAL EVALUATION OF THE CEO. THE CEOS EVALUATION IS DISCUSSED AMONGST BOARD MEMBERS IN EXECUTIVE SESSION. THE CEO CONDUCTS ANNUAL REVIEWS OF THE SENIOR MANAGEMENT STAFF. RESULTS OF THE PERFORMANCE EVALUATIONS ARE REPORTED TO THE COMPENSATION COMMITTEE. NO ACTION IS TAKEN BY THE COMPENSATION COMMITTEE RELATIVE TO THE SENIOR MANAGEMENT STAFF. |
| FORM 990 PART VI SECTION C LINE 19 | FORM 990 PART VI SECTION C LINE 19 | THE CREDIT UNION'S BYLAWS ARE AVAILABLE UPON REQUEST OF ANY MEMBER OF THE CREDIT UNION. A COPY OF OUR BYLAWS IS ALSO MAINTAINED BY THE RI DEPARTMENT OF BUSINESS REGULATION AND WOULD BE AVAILABLE FOR INSPECTION FROM THE BANKING DIVISION IF REQUESTED. QUARTERLY, A STATEMENT OF CONDITION, CERTIFIED BY THE CREDIT UNION'S CFO AND SUPERVISORY COMMITTEE, IS MADE AVAILABLE WITHIN 45 DAYS FOLLOWING QUARTER END AS REQUIRED BY RI GENERAL LAW. THE STATEMENT OF CONDITION IS POSTED IN A CONSPICUOUS PLACE WITHIN EACH CREDIT UNION BRANCH AND THE CORPORATE OFFICE. WE CURRENTLY DO NOT MAKE OUR CONFLICT OF INTEREST POLICY AVAILABLE TO MEMBERS. ALL EMPLOYEES AND DIRECTORS ARE PROVIDED A COPY AND REQUIRED TO ACKNOWLEDGE RECEIPT OF A COPY OF THE POLICY AND A REVIEW OF ITS PROVISIONS ANNUALLY. |
| Members | Form 990 Page 6 Part VI Section A Lines 6, 7a & 7b | Navigant Credit Union is owned and operated by its members. The membership vote for the governing body and approve all major actions of the governing body at the annual meeting. |
| Business relationships | Schedule L Part IV | The President of the Credit Union is a member of the board of directors of Members United Corporate Federal Credit Union which acts as the Credit Union's correspondent bank. As a director, the President is one of several directors and cannot exercise un-due influence on behalf of the Credit Union. A key employee is related to an individual who is a partner in a law firm that the Credit Union does business with. Neither individual is involved in the decision of the Credit Union to use the services of the law firm. |
| Other changes in Net Assets | Form 990 page 12 Part XI Line 5 | Other change in net assets consitst of the following adjustment related to general accepted accounting principals ("GAAP") FAS 115 unrealized investment gains - $635,453 FAS 158 Pension liabilities -($439,901) Net Other increases to net assets $195,552 |
| By-Law changes | Form 9990 page 6 Part VI Section A Line 4 | Bylaw Amendments - 2010 The Bylaws of Navigant Credit Union were amended in 2010. " On June 28, 2010 the credit union's Board of Directors voted to approve proposed amendments and hold a meeting of the membership at which they would vote on the proposed amendments. " On August 23, 2010 the members of the credit union voted to approve the proposed amendments. The bylaw amendments, votes by the Board of Directors and members and related documents were forwarded to the RI Department of Business Regulation. " The amended bylaws were approved by the Department of Business Regulation on November 24, 2010. Below is a summary of the amendments to the bylaws: " Clarification and enhancement regarding the requirements by which membership is ascertained and maintained. (Article II and Article III) " Provide that the annual meeting of the members may be held at such time as determined by the Board of Directors during the first quarter of the calendar year, as opposed to the current requirement for the fourth Monday in the month of January. (Article XIII) " Provide that the Board of Directors may approve amendments to the bylaws without the approval by the membership; current bylaws require such membership approval. (Article XIV) " Provide a new provision addressing amendments of the agreement to form (articles of incorporation). (Article XIV) " Minor technical revisions and word changes were also incorporated into those Articles considered for amendment. |
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