2024-06-21T11:18:51-05:00 2023-12-31 825448715 SPINELLI CPA PC 146 WEST BOYLSTON DRIVE SUITE 302 WORCESTER MA 01606 990 2023-01-01 041163260 ALLCOM CREDIT UNION ALLC 5087549980 36 PARK AVENUE WORCESTER MA 01609 LAURA C YBARRA PRESIDENT, CEO & DIRECTOR 5087549980 2024-06-21 1 LAURA YBARRA 999009999 1 KAREN SPINELLI P00644492 5083656522 2024-06-19 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z LAURA C YBARRA 36 PARK AVENUE WORCESTER MA 01609 3270336 0 X WWW.ALLCOMCU.ORG X CREDIT UNION 1922 MA THE CREDIT UNION ACCEPTS DEPOSITS AND GRANTS LOANS TO ITS MEMBERS. BENEFITS PAID ARE DIVIDENDS ON DEPOSIT ACCOUNTS. 11 10 24 0 0 0 0 0 1715065 1941630 367824 861292 498364 467414 2581253 3270336 0 0 132017 406315 1029334 1148662 0 0 0 1105774 1130499 2267125 2685476 314128 584860 79689682 78702922 69214340 67246401 10475342 11456521 THE CREDIT UNION ACCEPTS DEPOSITS AND GRANTS LOANS TO ITS MEMBERS. BENEFITS PAID ARE DIVIDENDS ON DEPOSIT ACCOUNTS. 0 0 406315 DIVIDENDS AND INTEREST PAID ON MEMBERS DEPOSITS. 819627 GRANTING OF CREDIT (CONSUMER AND MORTGAGE LOAN PRODUCTS) TO MEMBERS. 263705 OFFERING OF DEBIT AND CREDIT CARD SERVICES FOR MEMBER PURCHASES. 1489647 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 993 0 1 24 1 0 0 0 0 0 0 0 0 X 11 10 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 MA X LAURA C YBARRA 5087549980 36 PARK AVENUE WORCESTER MA 01609 JOHN J NAUGHTON CHAIRMAN OF THE BOARD 2.00 X 2000 0 0 JAMES A CIULLO CLERK & DIRECTOR 0.00 X 0 0 0 DENNIS F GRIMALDI DIRECTOR 0.00 X 0 0 0 SCOTT MORRISON TREASURER & DIRECTOR 2.00 X X 1375 0 0 SEAN M HUNTER VICE CHAIRMAN OF THE BOARD 0.00 X 0 0 0 KEVIN MAGUIRE JR CHAIRMAN, CREDIT COMMITTEE 0.00 X 0 0 0 RYAN MARSHALL CHAIRMAN, ALM COMMITTEE 0.00 X 0 0 0 HUNG PHAM DIRECTOR 0.00 X 0 0 0 JENNIFER ROCHE CHAIRWOMEN, PERSONNEL COMM 0.00 X 0 0 0 KAREN MIRABILE DIRECTOR 0.00 X 0 0 0 LAURA YBARRA PRES., CEO & DIRECTOR 40.00 X 202455 0 41268 205830 0 41268 1 0 1 0 SYNERGENT PO BOX 1236 PORTLAND ME 04104 IT SERVICES 271024 1 INTEREST LOANS 522100 1941630 1941630 1941630 861292 861292 DEBIT CARD INCOME 522100 218831 218831 MEMBER CHECKS & FEES 522100 141872 141872 CREDIT CARD INTERCHANG 522100 60689 60689 46022 46022 467414 3270336 3270336 0 0 406315 406315 236390 236390 699436 466293 233143 46924 31283 15641 93759 55284 38475 72153 39330 32823 27600 27600 60740 60740 67144 67144 139953 139953 33758 33758 131856 131856 19858 19858 DEBIT CARD /CREDIT CARD 232616 232616 PROFESSIONAL FEES, CONS 206437 206437 VARIOUS OPERATION EXPEN 135008 135008 ELECTRONIC SERVICES-BIL 31089 31089 44440 21000 23440 2685476 1489647 1195829 0 228487 270115 13198076 18412976 45862493 43781472 53979 43634 4599799 2548089 2111289 2051710 15642382 11507986 93700 93700 2499276 2541329 79689682 78702922 218518 167321 380344 366867 68615478 66712213 69214340 67246401 X 0 0 0 0 10475342 11456521 10475342 11456521 79689682 78702922 584860 396319 0 X X 0 1 X 1 0 0 1 X 421598 421598 2984135 1613399 1370736 113712 56399 57313 1080354 878291 202063 2051710 ATM CLEARING 236659 MISCELLANEOUS 176024 MEMBER SHARES & DEPOSITS 66299530 66712213 X PART IV, LINE 2B: THE CREDIT UNION HOLDS FUNDS IN ESCROW TO PAY INSURANCE AND TAXES ON BEHALF OF ITS MORTGAGE LOAN ACCOUNTS. PART X, LINE 2: MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE CREDIT UNION AND HAS CONCLUDED THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. 1 X X X X 0 0 0 LAURA YBARRA PRES., CEO & DIRECTOR 185340 0 16995 0 120 0 30435 0 10833 0 243723 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION HOLDS AN ANNUAL MEETING ACCORDING TO ITS BYLAWS WHERE ALL MEMBERS ARE GIVEN PROPER NOTIFICATION. THE BYLAWS CALL FOR THE ELECTION OF DIRECTORS WHOSE TERMS HAVE EXPIRED. FORM 990, PART VI, SECTION A, LINE 7B THE CREDIT UNION MEMBERS RATIFY DECISIONS OF THE GOVERNING BODY AT THEIR ANNUAL MEETING AND ELECT DIRECTORS AT THAT TIME. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION ENGAGES THE SERVICE OF AN INDEPENDENT ACCOUNTING FIRM TO PREPARE THE FORM 990, THE SAME FIRM THAT PERFORMS THE ORGANIZATION'S ANNUAL AUDIT. MANAGEMENT PROVIDES REQUESTED INFORMATION TO THE ACCOUNTING FIRM. A DRAFT COPY IS SENT TO THE PRESIDENT AND CEO FOR REVIEW. ONCE APPROVED THE 990 IS FILED. A COPY OF THE FORM 990 IS PROVIDED TO THE AUDIT COMMITTEE AND THE FULL BOARD FOR THEIR REVIEW AND RATIFICATION AT THE MEETING FOLLOWING THE FILING OF THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION HAS ADOPTED A CONFLICT OF INTEREST POLICY. THE POLICY REQUIRES THAT DIRECTORS AND OFFICERS REVIEW AND SIGN A CONFLICT QUESTIONNAIRE ANNUALLY IN ORDER TO PROPERLY MONITOR COMPLIANCE WITH THE POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE CREDIT UNION ANNUALLY APPOINTS A COMPENSATION COMMITTEE TO REVIEW COMPENSATION OF ALL EMPLOYEES INCLUDING THE OFFICERS AND KEY EMPLOYEES. THE COMPENSATION COMMITTEE CONTRACTS WITH INDEPENDENT EMPLOYMENT CONSULTANT PERIODICALLY TO CONDUCT INDUSTRY SALARY SURVEYS WITH RELEVANT PEER GROUP INFORMATION. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION POSTS UNAUDITED FINANCIAL STATEMENTS IN THE LOBBY OF THE CREDIT UNION BRANCH, GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST.