ENERGY CREDIT UNION: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- ENERGY CREDIT UNION (EIN 04-2079800)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-07-11
- IRS object ID
- 202431939349301903
- Schema version
- 2023v5.0
- 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) |
|---|---|---|
| Return | 2024-07-11T15:33:07-04:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 472604526 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MYSTIC ACCOUNTING GROUP LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 397 | AddressLine1Txt |
| City | MYSTIC | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 06355 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 042079800 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ENERGY CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | ENER | BusinessNameControlTxt |
| Phone | 6173251999 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 156 SPRING STREET | AddressLine1Txt |
| City | WEST ROXBURY | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02132 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JAMES BROUDER | PersonNm |
| Person Title | CFO/TREASURER | PersonTitleTxt |
| Phone | 6173251999 | PhoneNum |
| Signature | 2024-06-28 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | JAMES | PersonFirstNm |
| Person Last | BRODEUR | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | false | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | NANETTE A BANCROFT CPA | PreparerPersonNm |
| PTIN | P01315598 | PTIN |
| Phone | 8605361040 | PhoneNum |
| Preparation | 2024-06-28 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | HOOI SING TAN | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 156 SPRINGS STREET | AddressLine1Txt |
| City | WEST ROXBURY | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02132 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $5,491,674 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.ENERGYCREDITUNION.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1931 | FormationYr |
| Legal Domicile State | MA | LegalDomicileStateCd |
| Activity Or Mission | ENERGY CREDIT UNION IS A STATE CHARTERED CREDIT UNION. THE CREDIT UNION PROVIDES DEPOSIT AND LOAN SERVICES TO ITS MEMBERS. ITS PRIMARY DEPOSIT PRODUCTS ARE SAVINGS, CHECKING AND TERM CERTIFICATE ACCOUNTS AND ITS PRIMARY LENDING PRODUCTS ARE RESIDENTIAL MORTGAGES AND CONSUMER LOANS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 11 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 11 | VotingMembersIndependentCnt |
| Total Employee | 25 | TotalEmployeeCnt |
| Total Volunteers | 9 | TotalVolunteersCnt |
| Total Gross UBI | $15,843 | TotalGrossUBIAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $3,373,063 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $3,990,486 | CYProgramServiceRevenueAmt |
| PY Investment Income | $572,258 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,284,776 | CYInvestmentIncomeAmt |
| PY Other Revenue | $249,850 | PYOtherRevenueAmt |
| CY Other Revenue | $204,137 | CYOtherRevenueAmt |
| PY Total Revenue | $4,195,171 | PYTotalRevenueAmt |
| CY Total Revenue | $5,479,399 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $5,000 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $5,000 | CYGrantsAndSimilarPaidAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $1,220,284 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $1,588,380 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $2,291,769 | PYOtherExpensesAmt |
| CY Other Expenses | $3,274,820 | CYOtherExpensesAmt |
| PY Total Expenses | $3,517,053 | PYTotalExpensesAmt |
| CY Total Expenses | $4,868,200 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $678,118 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $611,199 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $133,032,845 | TotalAssetsBOYAmt |
| Total Assets EOY | $129,582,050 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $115,770,174 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $111,268,926 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $17,262,671 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $18,313,124 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | ENERGY CREDIT UNION IS A STATE CHARTERED CREDIT UNION. THE CREDIT UNION PROVIDES DEPOSIT AND LOAN SERVICES TO ITS MEMBERS. ITS PRIMARY DEPOSIT PRODUCTS ARE SAVINGS, CHECKING AND TERM CERTIFICATE ACCOUNTS AND ITS PRIMARY LENDING PRODUCTS ARE RESIDENTIAL MORTGAGES AND CONSUMER LOANS. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Desc | MAINTENANCE OF MEMBERS' DEPOSITS AND PAYMENTS OF INTEREST AND DIVIDENDS. AT 12/31/23, THE CREDIT UNION HAD 3,300 LOANS OUTSTANDING. ALSO, MEMBERS HAD 11,579 DEPOSIT ACCOUNTS. | Desc |
| Described In Section501c3 | false | DescribedInSection501c3Ind |
| Schedule B Required | false | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | Yes (true) | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | false | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (true) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | false | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | Yes (true) | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | Yes (true) | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | Yes (true) | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | false | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 2262 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 25 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (true) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (true) | Form990TFiledInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | false | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 11 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 11 | IndependentVotingMemberCnt |
| Family Or Business Rln | Yes (true) | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (true) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (true) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | false | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | false | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (true) | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | MA | StatesWhereCopyOfReturnIsFldCd |
| Other Website | Yes (X) | OtherWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JAMES BROUDER CFOVP | PersonNm |
| Phone | 6173251999 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 156 SPRING STREET | AddressLine1Txt |
| City | WEST ROXBURY | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02132 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (12 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|
| HOOI SING TAN | ||||||
| PRESIDENT & | 40.00 | Yes (X) | Yes (X) | $239,767 | $0 | $47,233 |
| JAMES BROUDER | ||||||
| CFO/TREASURE | 40.00 | Yes (X) | $136,476 | $0 | $20,103 | |
| RICHARD ANDREW | ||||||
| DIRECTOR | 0.00 | Yes (X) | $0 | $0 | $0 | |
| JOHN BARRETT | ||||||
| DIRECTOR | 0.00 | Yes (X) | $0 | $0 | $0 | |
| ANTHONY CISTERNELLI | ||||||
| DIRECTOR/ASS | 0.00 | Yes (X) | $0 | $0 | $0 | |
| FAUSTINA FORTES | ||||||
| CLERK | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| DAVID GAMACHE | ||||||
| DIRECTOR | 0.00 | Yes (X) | $0 | $0 | $0 | |
| SHANE HARRINGTON | ||||||
| DIRECTOR | 0.00 | Yes (X) | $0 | $0 | $0 | |
| JAMES GODDING JR | ||||||
| CHAIRPERSON | 0.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| ROBERT LEWIS | ||||||
| DIRECTOR | 0.00 | Yes (X) | $0 | $0 | $0 | |
| DANIEL O'CONNELL | ||||||
| DIRECTOR | 0.00 | Yes (X) | $0 | $0 | $0 | |
| FRANCO ROMERO | ||||||
| VICE CHAIRPE | 0.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $376,243 | TotalReportableCompFromOrgAmt |
| Total Other Compensation | $67,336 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 3 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (2 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| CONNECTICUT ONLINE (COCC) | |||||
| 100 EXECUTIVE BLVD | SOUTHINGTON | CT | 06489 | DATAPROCESSING | $347,675 |
| FISERV INC | |||||
| PO BOX 934057 | ATLANTA | GA | 31193 | DATA PROCESSING | $177,110 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 2 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | INTEREST ON LOANS | Desc |
| Total Revenue Column | $3,990,486 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $3,990,486 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $3,990,486 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,284,776 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $1,284,776 | RelatedOrExemptFuncIncomeAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $6,000 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $12,275 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | -$6,275 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$6,275 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | -$6,275 | RelatedOrExemptFuncIncomeAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| DescDesc | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | BusinessBusinessCd | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| MEMBER SERVICE FEES | $121,761 | $121,761 | ||
| OTHER INCOME | $90,741 | $90,741 | ||
| INSURANCE | $13,644 | 524298 | $13,644 |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$15,734 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | -$17,933 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $2,199 | UnrelatedBusinessRevenueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $210,412 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $5,479,399 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $5,463,556 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $15,843 | UnrelatedBusinessRevenueAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,000 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $604,594 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $745,195 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $19,002 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $114,361 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $105,228 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,830 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $50,670 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,665 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $79,235 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $27,975 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $571,997 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $104,597 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,220 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,285,174 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $140,852 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $53,463 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| PROVISION FOR LOAN LOSS | $327,202 |
| OTHER EXPENSES | $216,981 |
| EQUIPMENT AND MAINTENANCE | $115,957 |
| ATM EXPENSES | $108,826 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $167,176 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,868,200 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,436,106 | BOYAmt |
| EOY | $14,587,481 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,850,596 | BOYAmt |
| EOY | $4,589,190 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $82,078,132 | BOYAmt |
| EOY | $84,612,338 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $335,611 | BOYAmt |
| EOY | $353,638 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $5,250,167 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $1,644,966 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,711,525 | BOYAmt |
| EOY | $3,605,201 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $18,693,023 | BOYAmt |
| EOY | $16,882,483 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $331,334 | BOYAmt |
| EOY | $334,257 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,596,518 | BOYAmt |
| EOY | $4,617,462 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $133,032,845 | BOYAmt |
| EOY | $129,582,050 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $852,359 | BOYAmt |
| EOY | $1,075,430 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $276,011 | BOYAmt |
| EOY | $229,554 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $855,377 | BOYAmt |
| EOY | $811,283 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $113,786,427 | BOYAmt |
| EOY | $109,152,659 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $115,770,174 | BOYAmt |
| EOY | $111,268,926 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,262,671 | BOYAmt |
| EOY | $18,313,124 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,262,671 | BOYAmt |
| EOY | $18,313,124 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $133,032,845 | BOYAmt |
| EOY | $129,582,050 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $611,199 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $439,254 | NetUnrlzdGainsLossesInvstAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | false | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (true) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $853,000 | OtherCostOrOtherBasisAmt |
| Book Value | $853,000 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,582,372 | OtherCostOrOtherBasisAmt |
| Depreciation | $910,305 | DepreciationAmt |
| Book Value | $2,672,067 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $82,389 | OtherCostOrOtherBasisAmt |
| Depreciation | $68,878 | DepreciationAmt |
| Book Value | $13,511 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $732,406 | OtherCostOrOtherBasisAmt |
| Depreciation | $665,783 | DepreciationAmt |
| Book Value | $66,623 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $3,605,201 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MEMBERS SHARES AND DEPOSITS ACCOUNTS | Desc |
| Amt | $109,152,659 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $109,152,659 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $5,479,399 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Subtotal | $5,479,399 | RevenueSubtotalAmt |
| Total Revenue Per Form990 | $5,479,399 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $4,868,200 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Subtotal | $4,868,200 | ExpensesSubtotalAmt |
| Total Expenses Per Form990 | $4,868,200 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE D, PAGE 2, PART IV, LINE 2B | MORTGAGE ESCROW ACCOUNTS HELD FOR THE PAYMENT OF REAL ESTATE TAXES FOR MUNICIPALITIES. |
| SCHEDULE D, PAGE 3, PART X | THE CREDIT UNION RECOGNIZES AND MEASURES ITS UNRECOGNIZED TAX POSITIONS IN ACCORDANCE WITH FASB ASC 740, INCOME TAXES. UNDER THE GUIDANCE THE CREDIT UNION ASSESSES THE LIKELIHOOD, BASED ON THEIR TECHNICAL MERIT, THAT TAX POSITIONS WILL BE SUSTAINED UPON EXAMINATION BASED ON THE FACTS, CIRCUMSTANCES AND INFORMATION AVAILABLE AT THE END OF EACH PERIOD. THE MEASUREMENT OF UNRECOGNIZED TAX POSITIONS IS ADJUSTED WHEN NEW INFORMATION IS AVAILABLE, OR WHEN AN EVENT OCCURS THAT REQUIRES A CHANGE. THE CREDIT UNION'S POLICY IS TO ANALYZE ITS POSITIONS FOR ALL OPEN YEARS. THE CREDIT UNION HAS NOT IDENTIFIED ANY UNCRERTAIN TAX POSITIONS REQUIRING ACCRUAL DISCLOSURE AT DECEMBER 31, 2023. INTEREST AND PENALTIES, IF ANY, ASSOCIATED WITH UNCERTAIN TAX POSITIONS WOULD BE CLASSIFIED AS OTHER EXPENSE IN THE STATEMENT OF INCOME. THE CREDIT UNION'S INCOME TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES; HOWEVER, THERE ARE CURRENTLY NO EXAMINATIONS FOR ANY TAX PERIODS IN PROCESS. MANAGEMENT OF THE CREDIT UNION BELIEVES IT IS NO LONGER SUBJECT TO EXAMINATION FOR TAX YEARS PRIOR TO 2020. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | false | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (2 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt |
|---|---|---|---|---|
| HOOI SING TAN | ||||
| PRESIDENT & CEO | $218,242 | $21,525 | $47,233 | $287,000 |
| JAMES BROUDER | ||||
| CFO/TREASURER | $124,086 | $12,390 | $20,103 | $156,579 |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp (2 entries)
| Relationship DescriptionRelationshipDescriptionTxt | TransactionTransactionDesc | Sharing Of RevenuesSharingOfRevenuesInd |
|---|---|---|
| BROMLEY AGENCY | ||
| CEO'S HUSBAND | WEBSITE CONSULTANT | false |
| MARIA CACCIOLA | ||
| VP/COO | CONSULTANT | false |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990 - ORGANIZATION'S MISSION | ENERGY CREDIT UNION IS A STATE CHARTERED CREDIT UNION. THE CREDIT UNION PROVIDES DEPOSIT AND LOAN SERVICES TO ITS MEMBERS. ITS PRIMARY DEPOSIT PRODUCTS ARE SAVINGS, CHECKING AND TERM CERTIFICATE ACCOUNTS AND ITS PRIMARY LENDING PRODUCTS ARE RESIDENTIAL MORTGAGES AND CONSUMER LOANS. |
| FORM 990, PAGE 6, PART VI, LINE 2 | BROMLEY AGENCY HOOI SING TAN WEBSITE CONS CEO HUSBAND TO ECO |
| FORM 990, PAGE 6, PART VI, LINE 6 | PERSONS WHO MEET THE REQUIREMENTS OF THE ORGANIZATION'S FIELD OF MEMBERSHIP WHO HOLD AT LEAST ONE SHARE OF THE CAPITAL. |
| FORM 990, PAGE 6, PART VI, LINE 7A | EACH MEMBER HAS A VOTE AT THE ELECTION OF THE BOARD OF DIRECTORS. |
| FORM 990, PAGE 6, PART VI, LINE 11B | THE FORM 990 WILL BE REVIEWED BY THE CFO ONCE COMPLETED. DUE TO TIMING BETWEEN COMPLETION AND FILING DUE DATE, THE REVIEW BY THE BOARD MAY BE SUBSEQUENT TO FILING. THE BOARD'S ACTIONS WILL BE NOTED IN THE BOARD MINUTES. |
| FORM 990, PAGE 6, PART VI, LINE 12C | DIRECTORS SIGN OFF THAT THEY HAVE READ AND UNDERSTAND THE CONFLICTS OF INTEREST POLICY. |
| FORM 990, PAGE 6, PART VI, LINE 15A | BOARD APPROVES COMPENSATION BASED UPON PERFORMANCE AND INDUSTRY. |
| FORM 990, PAGE 6, PART VI, LINE 15B | BOARD APPROVES COMPENSATION BASED UPON PERFORMANCE AND INDUSTRY. |
| FORM 990, PAGE 6, PART VI, LINE 19 | FINANCIALS ARE AVAILABLE ON NCUA.GOV WEBSITE AND POSTED IN THE CREDIT UNION. OTHER INFORMATION IS AVAILABLE UPON REQUEST. |