2024-07-11T15:33:07-04:00 2023-12-31 472604526 MYSTIC ACCOUNTING GROUP LLP PO BOX 397 MYSTIC CT 06355 990 2023-01-01 042079800 ENERGY CREDIT UNION ENER 6173251999 156 SPRING STREET WEST ROXBURY MA 02132 JAMES BROUDER CFO/TREASURER 6173251999 2024-06-28 true JAMES BRODEUR 999009999 false NANETTE A BANCROFT CPA P01315598 8605361040 2024-06-28 2023 2023-04-26 12:10:37Z HOOI SING TAN 156 SPRINGS STREET WEST ROXBURY MA 02132 5491674 false X WWW.ENERGYCREDITUNION.ORG X 1931 MA 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. 11 11 25 9 15843 0 3373063 3990486 572258 1284776 249850 204137 4195171 5479399 5000 5000 0 1220284 1588380 0 0 2291769 3274820 3517053 4868200 678118 611199 133032845 129582050 115770174 111268926 17262671 18313124 X 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. false false 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. false false false false false false false true false true false false false true true true false false false false false false false false false false false false true false false false true true true false false false false false false false false true 2262 0 25 true true true false false false false false false false X 11 11 true false false false true true false true true false false false true true true true true true true false MA X X JAMES BROUDER CFOVP 6173251999 156 SPRING STREET WEST ROXBURY MA 02132 HOOI SING TAN PRESIDENT & 40.00 X X 239767 0 47233 JAMES BROUDER CFO/TREASURE 40.00 X 136476 0 20103 RICHARD ANDREW DIRECTOR 0.00 X 0 0 0 JOHN BARRETT DIRECTOR 0.00 X 0 0 0 ANTHONY CISTERNELLI DIRECTOR/ASS 0.00 X 0 0 0 FAUSTINA FORTES CLERK X X 0 0 0 DAVID GAMACHE DIRECTOR 0.00 X 0 0 0 SHANE HARRINGTON DIRECTOR 0.00 X 0 0 0 JAMES GODDING JR CHAIRPERSON 0.00 X X 0 0 0 ROBERT LEWIS DIRECTOR 0.00 X 0 0 0 DANIEL O'CONNELL DIRECTOR 0.00 X 0 0 0 FRANCO ROMERO VICE CHAIRPE 0.00 X X 0 0 0 376243 67336 3 false true false CONNECTICUT ONLINE (COCC) 100 EXECUTIVE BLVD SOUTHINGTON CT 06489 DATAPROCESSING 347675 FISERV INC PO BOX 934057 ATLANTA GA 31193 DATA PROCESSING 177110 2 INTEREST ON LOANS 3990486 3990486 3990486 1284776 1284776 6000 12275 -6275 -6275 -6275 MEMBER SERVICE FEES 121761 121761 OTHER INCOME 90741 90741 INSURANCE 524298 13644 13644 -15734 -17933 2199 210412 5479399 5463556 15843 5000 604594 745195 19002 114361 105228 14830 50670 7665 79235 27975 571997 104597 2220 1285174 140852 53463 PROVISION FOR LOAN LOSS 327202 OTHER EXPENSES 216981 EQUIPMENT AND MAINTENANCE 115957 ATM EXPENSES 108826 167176 4868200 0 0 0 14436106 14587481 8850596 4589190 82078132 84612338 335611 353638 5250167 1644966 3711525 3605201 18693023 16882483 331334 334257 4596518 4617462 133032845 129582050 852359 1075430 276011 229554 855377 811283 113786427 109152659 115770174 111268926 X 17262671 18313124 17262671 18313124 133032845 129582050 611199 439254 X false true X true false false true X 853000 853000 3582372 910305 2672067 82389 68878 13511 732406 665783 66623 3605201 MEMBERS SHARES AND DEPOSITS ACCOUNTS 109152659 109152659 X 5479399 5479399 5479399 4868200 4868200 4868200 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. X X X false false false HOOI SING TAN PRESIDENT & CEO 218242 21525 47233 287000 JAMES BROUDER CFO/TREASURER 124086 12390 20103 156579 BROMLEY AGENCY CEO'S HUSBAND WEBSITE CONSULTANT false MARIA CACCIOLA VP/COO CONSULTANT false 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.