2024-11-15T14:27:43-06:00 2023-12-31 390758449 WIPFLI LLP 30 LONG CREEK DRIVE SOUTH PORTLAND ME 041062437 990 2023-01-01 041680140 ALIGN CREDIT UNION ALIG 8009429575 87 HALE STREET LOWELL MA 01851 LYDIA VAZQUEZ PRESIDENT AND CEO 8009429575 2024-11-13 1 1 JULIA HOWLAND CPA P01711658 2077745701 2024-11-13 2023 2024-10-15 13:58:12Z X KENNETH M DEL ROSSI 87 HALE STREET LOWELL MA 01851 46144750 0 X WWW.ALIGNCU.ORG X 1922 MA BY PROVIDING EXPERT GUIDANCE AND THE RIGHT FINANCIAL TOOLS, WE BUILD MEANINGFUL CONNECTIONS WITH MEMBERS, DELIVERING A TRULY CUSTOMIZED BANKING EXPERIENCE. 9 9 169 9 60783 0 0 0 14524787 18578674 5692843 6385021 4216312 2944576 24433942 27908271 99290 93584 2665290 7030501 11723687 11657697 0 0 0 9535919 12610177 24024186 31391959 409756 -3483688 703539071 706708681 668201549 668987920 35337522 37720761 X BY PROVIDING EXPERT GUIDANCE AND THE RIGHT FINANCIAL TOOLS, WE BUILD MEANINGFUL CONNECTIONS WITH MEMBERS, DELIVERING A TRULY CUSTOMIZED BANKING EXPERIENCE. 0 1 DIVIDENDS AND INTEREST PAID ON MEMBERS DEPOSITS. GRANTING CREDIT TO MEMBERS WITH VARIOUS LOAN PRODUCTS. MEMBER SERVICES INCLUDING DEBIT AND CREDIT CARDS. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 13777 0 169 1 1 1 0 0 0 0 0 0 0 0 0 1 0 X 9 9 0 1 0 0 1 1 1 1 1 0 0 0 1 0 1 1 1 1 1 0 MA X KENNETH M DEL ROSSI 8009429575 40 MARKET STREET LOWELL MA 01851 GEORGE R GAGAN CHAIRPERSON 1.00 X 0 0 0 KAREN A MORRIS CLERK 1.00 X 0 0 0 STEVEN J BABBITT DIRECTOR 1.00 X 0 0 0 FRANK H LOSPENNATO TREASURER 1.00 X 0 0 0 DAVID R MORRIS VICE CHAIRPERSON 1.00 X 0 0 0 RICHARD W PIECEWICZ 2ND VICE CHAIRPERSON (TERMED NOV) 1.00 X 0 0 0 ALAN J SEXTON DIRECTOR (TERMED MAR) 1.00 X 0 0 0 MARTIN E CONWAY DIRECTOR 1.00 X 0 0 0 JOSEPH FORSTER DIRECTOR 1.00 X 0 0 0 KATHLEEN E MCKENNEY DIRECTOR 1.00 X 0 0 0 JOHN MORRIS DIRECTOR 1.00 X 0 0 0 KENNETH M DEL ROSSI PRESIDENT AND CEO 40.00 X 1826749 0 69372 THOMAS HAMMOND CFO (TERMED MAR) 40.00 X 307230 0 61351 LYDIA VAZQUEZ CHIEF OPERATING OFFICER 40.00 X 276295 0 67782 MARK SANGUINETTI SVP CHIEF LENDING OFFICER 40.00 X 63984 0 873 JENNIFER HUSKA SVP CHIEF STRATEGY OFFICER 40.00 X 169098 0 41485 JOANNE MCCARTHY SVP CHIEF RETAIL OFFICER & SECURITY OFFICER 40.00 X 184230 0 24741 MARYANN BEDARD SVP-CONSUMER LENDING 40.00 X 147669 0 38524 SANDRA LAMPLOUGH SVP-OPERATIONS 40.00 X 136903 0 36140 TODD CARON CIO 40.00 X 102418 0 30293 JOANNE DOULAMES SVP IT 40.00 X 101876 0 19568 KATHLEEN KAY-ALLEN VP-SERVICING 40.00 X 100978 0 44180 3417430 0 434309 10 0 1 0 FISERV 75 REMITTANCE DRIVE SUITE 6969 CHICAGO IL 60675 FI TECHNOLOGY 1400648 GARY ABRAMS 78 WESTON LANE HOPKINTON MA 01748 INTERIM CFO 244141 SHI PO BOX 952121 DALLAS TX 75395 IT SERVICES 176834 DARLING CONSULTING GROUP 260 MERRIMAC STREET NEWBURYPORT MA 01950 ALM CONSULTANT 165944 COMPASS FACILITY SERVICES 65 JACKMAN STREET GEORGETOWN MA 01833 JANATORIAL SERVICES 141855 8 INTEREST ON LOANS 522100 17373759 17373759 1204915 1204915 18578674 6441751 6441751 18179749 18236479 -56730 -56730 -56730 ATM & CREDIT CARD INTERCHANGE INC 522100 1950573 1889790 60783 MEMBER SERVICE FEES 522100 622040 622040 WEALTH MANAGEMENT SERVICES 522100 371963 371963 2944576 27908271 21462467 60783 6385021 93584 7030501 3093192 6036260 466779 1369234 692232 36901 901981 272170 306147 1511110 31932 20574 3998975 721892 187407 SERVICE CONTRACTS 2032907 INTERCHANGE EXPENSE 372052 PROVISION FOR LOAN LOSS 355515 CREDIT CARD EXPENSE 337119 1523495 31391959 7006688 4093797 11422260 11521832 0 2245874 382568688 399248578 18629577 10629665 8357799 7999912 277485689 265755613 2896400 3308900 13801547 12534175 703539071 706708681 2348332 2661382 1782413 2135413 0 97000000 664070804 567191125 668201549 668987920 X 0 0 0 0 35337522 37720761 35337522 37720761 703539071 706708681 X -3483688 6358339 727935 -1219347 X 0 1 X 1 0 0 1 X 2125000 2125000 11506124 6260954 5245170 4998453 4368711 629742 7999912 OTHER LIABILITIES 6214465 MEMBERS' SHARE & DEPOSIT ACCOUNTS 560976660 567191125 X 27908271 0 27908271 0 27908271 31391959 0 31391959 0 31391959 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: THE CREDIT UNION MAY RECOGNIZE A LIABILITY FOR UNRECOGNIZED TAX BENEFITS FROM UNCERTAIN TAX POSITIONS. UNRECOGNIZED TAX BENEFITS REPRESENT THE DIFFERENCES BETWEEN A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN AND THE BENEFIT RECOGNIZED AND MEASURED IN THE FINANCIAL STATEMENTS. INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS ARE CLASSIFIED AS INCOME TAX EXPENSE. 0 MANOLIS FAMILY FOUNDATION 1067 LAKEVIEW AVENUE DRACUT MA 01826 262711036 501C3 0 8000 LOCAL COMMUNITY EVENT THE LOWELL PLAN 660 SUFFOLK ST SUITE 120 LOWELL MA 01854 042693109 501C3 0 11000 PROGRAM SUPPORT UMASS LOWELL ATHLETICS 1 UNIVERSITY AVENUE LOWELL MA 01854 046002284 PUBLIC UNIVERSITY 0 12500 PROGRAM SUPPORT 3 0 X X X X 1 1 0 KENNETH M DEL ROSSI PRESIDENT AND CEO 483280 0 7500 0 1335969 0 31396 0 37976 0 1896121 0 0 0 THOMAS HAMMOND CFO (TERMED MAR) 68988 0 0 0 238242 0 24791 0 36560 0 368581 0 0 0 LYDIA VAZQUEZ CHIEF OPERATING OFFICER 240313 0 35546 0 436 0 27884 0 39898 0 344077 0 0 0 JENNIFER HUSKA SVP CHIEF STRATEGY OFFICER 161829 0 7015 0 254 0 13974 0 27511 0 210583 0 0 0 JOANNE MCCARTHY SVP CHIEF RETAIL OFFICER & SECURITY 176448 0 5259 0 2523 0 12852 0 11889 0 208971 0 0 0 MARYANN BEDARD SVP-CONSUMER LENDING 142174 0 4403 0 1092 0 16027 0 22497 0 186193 0 0 0 SANDRA LAMPLOUGH SVP-OPERATIONS 129498 0 4240 0 3165 0 11086 0 25054 0 173043 0 0 0 PART I, LINES 4A-B KENNETH DEL ROSSI - 1,317,976.00 FORM 990, PART III, LINE 3 INLIGN INSURANCE (WHOLLY OWNED CUSO) - DISSOLVED SEPTEMBER 2023 FORM 990, PART VI, SECTION A, LINE 3 GARY ABRAMS, INTERIM CFO. SELF-EMPLOYED, RECEIVES A 1099. PERFORMED ALL CFO DUTIES AND RESPONSIBILITIES. 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 CONTRACTS WITH THEIR CPA FIRM TO PREPARE FORM 990. AFTER PREPARATION, A DRAFT COPY IS SENT TO THE PRESIDENT AND CEO AND THE CHIEF FINANCIAL OFFICER FOR REVIEW. ONCE APPROVED THE 990 IS FILED. A COPY OF THE 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 WE HAVE A WRITTEN CONFLICT OF INTEREST POLICY WITHIN OUR EMPLOYEE GUIDEBOOK. ADDITIONALLY, THE BOARD SIGNS A CODE OF ETHICS AGREEMENT. THE QUESTIONS ARE CONTAINED IN THE POLICY. A COPY OF THE POLICY CAN BE PROVIDED UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 15 WE USED A CONSULTANT AS WELL AS RELIED ON DIFFERENT SURVEYS AND THE EXPERTISE OF OUR HR DEPARTMENT. SALARIES ARE SET ANNUALLY BY THE SALARY/EXECUTIVE PERSONNEL COMMITTEE OF THE BOARD OF DIRECTORS. THE CURRENT PRESIDENT/CEO IS REVIEWED ANNUALLY AND EVALUATED ON GOALS SET BY THE BOD. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION MAKES THE DOCUMENT AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: ADOPTION OF ASU NO.2016-13 (ASC 326) -1,219,347. INLIGN INSURANCE SERVICE LLC 40 MARKET STREET LOWELL MA 01851 852752732 INSURANCE SERVICES MA 49845 0 ALIGN CREDIT UNION