2023-05-15T10:33:18-05:00 2022-12-31 042513210 GERALD T REILLY & COMPANY 424 ADAMS STREET MILTON MA 02186 990 2022-01-01 041896000 LIBERTY BAY CREDIT UNION LIBE 6174396500 300 GRANITE STREET BRAINTREE MA 02184 GEORGE KELLY SVP, CHIEF STRATEGY OFFICER 6174396500 2023-05-10 1 GEORGE KELLY 999009999 0 SEAN MCNEIL CPA P01731264 6176968900 2023-05-10 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z GEORGE KELLY 300 GRANITE STREET BRAINTREE MA 02184 27838090 0 X WWW.LIBERTYBAYCU.ORG X CREDIT UNION 1917 MA TO OFFER FINANCIAL SERVICES. 13 9 92 10 0 0 0 0 21855844 24784031 2352553 2732911 0 0 24208397 27516942 12500 13000 0 0 12609816 11408205 0 0 0 10541682 9313998 23163998 20735203 1044399 6781739 714665238 743994815 610597539 649945563 104067699 94049252 LIBERTY BAY CREDIT UNION EXISTS TO BE A RESPONSIBLE AND RELEVANT FINANCIAL PARTNER TO ITS MEMBERS, EMPLOYEES, AND THE COMMUNITIES THAT IT SERVES. 0 0 LIBERTY BAY CREDIT UNION EXISTS TO BE A RESPONSIBLE AND RELEVANT FINANCIAL PARTNER TO ITS MEMBERS, EMPLOYEES, AND THE COMMUNITIES THAT IT SERVES. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 10476 0 1 92 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 13 9 1 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X GEORGE KELLY 6174396500 300 GRANITE STREET BRAINTREE MA 02184 GERARD BURM DIRECTOR 2.00 X 0 0 51 EUGENE LEAHY DIRECTOR 2.00 X 0 0 51 EDWARD MCCOLGAN DIRECTOR 2.00 X 0 0 82 THOMAS J FLYNN DIRECTOR 2.00 X 0 0 82 EDWARD R FOLEY DIRECTOR 2.00 X 0 0 82 PATRICK J FOLEY VICE CHAIRMAN 2.00 X 0 0 204 ROBERT B FOLEY JR TREASURER 2.00 X 12000 0 133 STEPHEN J KELLEY SR DIRECTOR 2.00 X 0 0 51 WILLIAM T MURPHY DIRECTOR 2.00 X 0 0 51 MICHAEL F MCCARTHY DIRECTOR 2.00 X 0 0 51 ROBERT J MITCHELL DIRECTOR 2.00 X 0 0 51 SEAN CASHMAN SECRETARY 2.00 X 12000 0 204 PETER LINCOLN CHAIRMAN 6.00 X 24000 0 51 STEPHEN FULCHINI SVP, INFORMATION TECHNOLOG 40.00 X 183834 0 30451 FREDERICK WILLIAMS SVP AND CFO 40.00 X 221452 0 50864 JOHN PARILLO PRESIDENT & CEO 40.00 X 659606 0 41957 PAUL GRAVELLESE SVP & CHIEF LENDING OFFIC 40.00 X 220620 0 40203 GEORGE KELLY SVP & CHIEF STRATEGY OFFIC 40.00 X 220620 0 50781 KATHERINE PEILA SVP & CHIEF ADMIN OFFICER 40.00 X 231163 0 35782 JOSEPH BEARS SVP & CHIEF INFORMATION OFFICIER 40.00 X 205567 0 50024 PAOLA FERRARA MORTGAGE LOAN OFFICER 40.00 X 226593 0 50691 MARGUERITE MURPHY VP MORTGAGE 40.00 X 150397 0 28570 JAMES DOWLING CONTROLLER 40.00 X 154477 0 43569 STEPHEN HILE MORTAGE LOAN OFFICIER 40.00 X 177883 0 34557 DONNA WARNER VP RETAIL SERVICES 40.00 X 143537 0 27884 M LYNDON MATTESON III FORMER PRESIDENT / CEO 40.00 X 534854 0 41957 3378603 0 528434 24 1 1 0 ROCK BREAKERS 370 MAIN STREET SUITE 880 WORCESTER MA 01608 RENT - 300 GRANITE - NEW 1049944 FISERV PO BOX 99924 GRAPEVINE TX 760999724 CORE PROVIDER 753207 NCR CORPORATION PO BOX 740641 LOS ANGELES CA 90074 DATA PROCESSING/WEBSITE 413945 CUMMINGS PROPERTIES 200 WEST CUMMINGS PARK WOBORN MA 01801 RENT - WOBURN 237935 LUCRO COMMERCIAL SOLUTIONS INC 3692 COOLIDGE CT TALLAHASSEE FL 32311 CUSO - COMMERICAL LOANS 192513 7 LOAN INTEREST 522100 20365925 20365925 FEES ON ACCOUNTS 522100 2385896 2385896 EMPLOYEE RETENTION CREDIT 522100 1603843 1603843 MISCELLANEOUS INCOME 522100 428367 428367 24784031 2988059 2988059 66000 321148 -255148 -255148 -255148 27516942 24784031 0 2732911 13000 3907036 4828263 438501 1604645 629760 49304 87041 234977 173211 1263380 77095 3009875 640001 MISCELLANEOUS 1838302 EQUIPMENT MAINTENANCE 1018947 LOAN COLLECTION & OTHER 751479 DATA PROCESSING 374876 -204490 20735203 1852556 1594574 26638740 15491439 14652600 14411754 485614831 552994712 1208876 1363479 14243135 7692024 3521625 6551111 169281688 137530090 8188469 10119494 3705853 3938162 714665238 743994815 5817418 9114774 27000000 84000000 577780121 556830789 610597539 649945563 X 0 0 0 0 104067699 94049252 104067699 94049252 714665238 743994815 X 6781739 -16964176 163990 X X 0 1 X 1 0 409500 409500 1352008 412667 939341 2128541 1383120 745421 7106808 2860232 4246576 3246278 3036005 210273 6551111 MEMBER DEPOSITS 556830789 556830789 1 SCHOLARSHIPS TO ENROLLED COLLEGE FRESHMAN WHO ARE MEMBERS OF LBCU - MADE PAYABLE TO THE MEMBERS 12 13000 X 1 1 X X X X 1 0 0 JOHN PARILLO PRESIDENT & CEO 537176 0 122430 0 0 0 30500 0 11457 0 701563 0 0 0 M LYNDON MATTESON III FORMER PRESIDENT / CEO 468454 0 66400 0 0 0 30500 0 11457 0 576811 0 0 0 PAOLA FERRARA MORTGAGE LOAN OFFICER 223843 0 2750 0 0 0 22659 0 28032 0 277284 0 0 0 FREDERICK WILLIAMS SVP AND CFO 191052 0 30400 0 0 0 22145 0 28719 0 272316 0 0 0 GEORGE KELLY SVP & CHIEF STRATEGY OFFIC 190220 0 30400 0 0 0 22062 0 28719 0 271401 0 0 0 KATHERINE PEILA SVP & CHIEF ADMIN OFFICER 200763 0 30400 0 0 0 23116 0 12666 0 266945 0 0 0 PAUL GRAVELLESE SVP & CHIEF LENDING OFFIC 190220 0 30400 0 0 0 22062 0 18141 0 260823 0 0 0 JOSEPH BEARS SVP & CHIEF INFORMATION OFFICIER 190367 0 15200 0 0 0 20557 0 29467 0 255591 0 0 0 STEPHEN FULCHINI SVP, INFORMATION TECHNOLOG 158700 0 25134 0 0 0 18383 0 12068 0 214285 0 0 0 STEPHEN HILE MORTAGE LOAN OFFICIER 175133 0 2750 0 0 0 17788 0 16769 0 212440 0 0 0 JAMES DOWLING CONTROLLER 140777 0 13700 0 0 0 15448 0 28121 0 198046 0 0 0 MARGUERITE MURPHY VP MORTGAGE 137007 0 13390 0 0 0 15040 0 13530 0 178967 0 0 0 DONNA WARNER VP RETAIL SERVICES 131397 0 12140 0 0 0 14354 0 13530 0 171421 0 0 0 PART I, LINE 1A THE BOARD OF DIRECTORS MAY ALLOW A CONFERENCE ATTENDEE TO BRING A COMPANION WITH THEM TO THE EVENT WHICH MAY INCLUDE TRAVEL. THE CREDIT UNION WILL REIMBURSE REASONABLE COSTS ASSOCIATED WITH THE EVENT AS STATED IN CORPORATE POLICIES. PART I, LINE 4A THE FORMER PRESIDENT AND CHIEF EXECUTIVE OFFICER, M. LYNDON MATTESON III ("MR. MATTESON"), AND LIBERTY BAY CREDIT UNION (THE "CREDIT UNION") PARTICIPATED IN A CONFIDENTIAL SEPARATION AGREEMENT AND RELEASE OF ALL CLAIMS (THE "AGREEMENT"), EFFECTIVE DECEMBER 15, 2021 (SEPARATION DATE). THE PAYMENT PERIOD IS FROM THE SEPARATION DATE THROUGH JANUARY 5, 2024. THE FORMER CHIEF EXECUTIVE OFFICER, EDWARD LOPES, WAS PROVIDED WITH A SERP WHICH WAS FUNDED BY LIFE INSURANCE IN 2014. THE FORMER CHIEF FINANCIAL OFFICER, JOEL KELLER, WAS PROVIDED WITH A SERP WHICH WAS FUNDED BY LIFE INSURANCE IN 2016. THE FORMER SENIOR VICE PRESIDENT OF LENDING AND FINANCE, JOSEPH BEAN, WAS PROVIDED WITH A SERP WHICH WAS FUNDED BY LIFE INSURANCE IN 2017. THE FORMER PRESIDENT AND CHIEF EXECUTIVE OFFICER, M. LYNDON MATTESON III, WAS PROVIDED A SERP WHICH WAS FUNDED BY LIFE INSURANCE IN 2020. ED LOPES FORMER PRESIDENT/CEO SERP X 4255269 5421189 0 1 1 JOEL KELLER FORMER EVP/CFO SERP X 1765500 1359192 0 1 1 JOSEPH BEAN FORMER SVP SERP X 1706227 1981360 0 1 1 M LYNDON MATTESON III FORMER CHIEF EXECUTIVE OFFICER SERP X 5352000 5650013 0 1 1 14411754 FORM 990, PART VI, SECTION A, LINE 2 THERE ARE FOUR INDIVIDUALS WHOM ARE RELATED ON THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 6 DEPOSITORS WITH A MINIMUM OF $5 BALANCE IN THEIR SAVINGS ACCOUNT ARE MEMBERS OF THE CREDIT UNION. FORM 990, PART VI, SECTION A, LINE 7A ALL MEMBERS HAVE VOTING RIGHTS WHICH ARE LIMITED TO THE ANNUAL MEETING AND ANY SPECIAL MEETINGS HELD DUE TO CHARTER CHANGES, MERGERS, ETC. FORM 990, PART VI, SECTION A, LINE 7B THE BOARD OF DIRECTORS ARE VOTED BY THE MEMBERS AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FORM 990 IS REVIEWED BY THE CS0 AND PROVIDED TO THE AUDIT COMMITTEE FOR THEIR REVIEW PRIOR TO IT BEING FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS REVIEWS ALL CORPORATE POLICIES AT LEAST ANNUALLY TO ENSURE COMPLIANCE. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS APPROVES CEO COMPENSATION. THE CEO IN TURN IS RESPONSIBLE FOR COMPENSATION OF MANAGEMENT AND STAFF. A FORMAL, BOARD DESIGNATED COMPENSATION COMMITTEE AIDS IN THIS PROCESS. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S CALL REPORT AND FINANCIAL INFORMATION IS AVAILABLE THROUGH THE NCUA WEBSITE AND PRIVACY POLICIES ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: FAS158 OCI ADJUSTMENT 163,990. FORM 990, PART IV, LINE 12 AND FORM 990, PART XI, LINE 2B AUDITED FINANCIAL STATEMENTS WERE PREPARED AS OF 9/30/22.