2023-09-18T12:48:28-05:00 2022-12-31 042689883 WOLF & COMPANY PC 255 STATE STREET BOSTON MA 02109 990 2022-01-01 020222930 NORTHEAST CREDIT UNION NORT 6034361847 PO BOX 1240 PORTSMOUTH NH 038021240 CHRISTOPHER G PARKER PRESIDENT & CEO 6034361847 2023-09-15 1 CHRISTOPHER PARKER 000005544 0 HARRY A KALAJIAN JR CPA P00464296 6174399700 2023-09-18 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z CHRISTOPHER G PARKER PO BOX 1240 PORTSMOUTH NH 038021240 83517105 0 X WWW.NECU.ORG X 1936 NH PROVIDE CREDIT UNION SERVICES TO ITS MEMBERS. 7 7 584 11 209418 0 0 0 74101704 75602259 1092821 7914846 -15328 0 75179197 83517105 160000 40000 0 0 28632303 31912415 0 0 0 36440610 38704300 65232913 70656715 9946284 12860390 1982489459 1893357956 1813731171 1723859902 168758288 169498054 PROVIDE CREDIT UNION SERVICES TO ITS MEMBERS 0 0 CONSISTENT WITH THE PRINCIPLES, PHILOSOPHY AND VALUES OF THE CREDIT UNION AND VALUES OF THE CREDIT UNION MOVEMENTS, NORTHEAST CREDIT UNION PROVIDES SAFE, HIGH QUALITY FINANCIAL SERVICES TO MEET THE NEEDS OF OUR MEMBERS OWNERS, ENHANCING THEIR FINANCIALS WELL BEING WHILE MAINTAINING THE STRENGTH OF THE CREDIT UNION. 0 0 0 0 0 0 0 1 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 19489 1 1 584 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 0 X NEIL GORDON 6035991707 PO BOSTON 1240 PORTSMOUTH NH 038021240 VICTOR M COLLININO TREASURER 2.00 X X 0 0 0 TERRANCE BEERS VICE CHAIRMAN 2.00 X X 0 0 0 THERESA P PALUMBO SECRETARY 2.00 X X 0 0 0 RAYMOND BALD CHAIRMAN 2.00 X X 0 0 0 DAVID PACIENCIA DIRECTOR 2.00 X 0 0 0 JUSTIN GAMESTER DIRECTOR 1.00 X 0 0 0 REGIS SAUCIER DIRECTOR 1.00 X 0 0 0 LEE P SCHAFER SVP CHIEF HUMAN RESOURCES 40.00 X 257489 0 37007 SUSAN HANNIGAN SVP CFO (ENDED 6/2022) 40.00 X 254573 0 18099 KELLY MCGRATH SVP CHIEF LENDING OFFICER 40.00 X 269389 0 37264 ANA MICHELE FORET SVP CRO (ENDED 9/2/2022) 40.00 X 225333 0 20374 SEAN KARAS MCNAIR CHIEF MEMBER EXPERIENCE AND DIGITAL OFFICER 40.00 X 260798 0 21033 MICHAEL H GAGNON SVP CHIEF TECHNOLOGY OFFIC 40.00 X 234581 0 24838 TRACI J TENGGREN VP HUMAN RESOURCES 40.00 X 208168 0 54498 CHRISTOPHER G PARKER PRESIDENT/CEO 40.00 X 573700 0 73730 ANDREA PRUNA SVP CHIEF MARKETING & RETA 40.00 X 281643 0 61176 NEIL GORDON SVP CFO (AS OF 7/2022) 40.00 X 44188 0 4686 KEN LAWRENCE SVP CIO 40.00 X 37056 0 0 DEBORAH AUGER VP MARKETING 40.00 X 150430 0 25657 CHRISTINA J ZAUDKE VP BRANCH STRATEGY AND INN 40.00 X 197323 0 53329 CHRISTOPHER SAUCIER VP MORTGAGE 40.00 X 168067 0 42936 DOUGLAS SITES VP CONSUMER & INDIRECT LENDING 40.00 X 153264 0 47001 RICHARD LIPARI VP OPERATIONS 40.00 X 191262 0 52618 JUNE GOULDSBROUGH AVP ECOMMERCE 40.00 X 150334 0 14211 SUZANNE R LADD VP CONSUMER DIRECT LENDING 40.00 X 177845 0 29378 DAVID ARTHUR PERRON AVP IT 40.00 X 156559 0 38186 BONNIE J WARD VP IT 40.00 X 196149 0 39778 SEAN TIPTON AVP CONTACT CENTER 40.00 X 133912 0 35998 ARTHUR WILLIAM MACGREGOR SALES REP 40.00 X 222674 0 41131 STEPHEN WILLIAM BECKER VP FINANCIAL PLANNING & ANALYSIS 40.00 X 139586 0 14132 JEANNE WARD AVP COLLECTIONS 40.00 X 137783 0 26451 MICHAEL RUMO AVP REGIONAL SALES MANAGER 40.00 X 120692 0 34178 4942798 0 847689 41 0 1 0 CAROUSEL INDUSTRIES OF NORTH AMERICA IN 659 SOUTH COUNTY TRAIL EXETER RI 02822 INFORMATION TECHNOLOGY 931878 CYBERNORTH LLC 15 COTTAGE RD UNIT 2433 SOUTH PORTLAND ME 04116 INFORMATION TECHNOLOGY 699905 UNITED VALUATION GROUP LLC 383 US ROUTE 1 BOX 7 SCARBOROUGH ME 04074 APPRAISAL SERVICES 405050 CUSTOMIZED SERVICE CONCEPTS LLC 18 COTE AVENUE SUITE 13 GOFFSTOWN NH 03045 SALES 317556 ADP INC PO BOX 842875 BOSTON MA 02284 PAYROLL 245459 8 LOAN INCOME 522100 54163737 54163737 OTHER INCOME 522100 14742576 14533158 209418 TOTAL FEES INCOME 522100 6695946 6695946 75602259 7764105 7764105 150741 0 150741 150741 150741 83517105 75392841 209418 7914846 40000 4188152 20370434 2327893 2981130 2044806 98842 607002 4819 789735 1593313 6001419 2782939 2496730 118284 642507 7822066 2955111 294149 LOAN SERVICING EXPENSES 4247406 PROCESSING FEES 3806778 PROVISIONS FOR LOSS 2176573 MISC OPERATING EXPENSES 1187949 1078678 70656715 250982503 99169532 25046443 24029321 1344891983 1511002696 3510726 3976823 58003584 23436408 35576801 34567176 316296382 212145004 6184621 8467404 1982489459 1893357956 13853290 10931677 3590436 4111049 67874041 55411999 1728413404 1653405177 1813731171 1723859902 X 0 0 0 0 168758288 169498054 168758288 169498054 1982489459 1893357956 12860390 -12120625 0 X X 0 1 X 1 0 0 1 X 15439161 15439161 23292853 8841517 14451336 1355011 1061210 293801 17916559 13533681 4382878 34567176 INVESTMENT IN CO-OP OCEAN 20000 C CUSO CUDL 800000 C CUSO MORTGAGE 1221079 C FEDERAL HOME LOAN BANK STOCK 3312800 C LPL FINANCIAL STOCK 20610 C OCTANT BUSINESS SERVICES 132784 C CERTIFICATES OF DEPOSIT 15101000 C OTHER - SHARES AND DEPOSITS AT CU CORP 172866474 C MEMBER SHARES IN LEAGUE CENTRAL 1174088 C NCUSIF DEPOSIT 17496169 C 212145004 MEMBER SHARES 1652553442 OTHER LIABILITIES 851735 1653405177 X PART IV, LINE 2B: ESCROW ACCOUNT FOR MORTGAGES. PART X, LINE 2: THE CREDIT UNION IS EXEMPT UNDER INTERNAL REVENUE CODE 501(C)(14) FROM FEDERAL AND STATE INCOME TAXES. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR THE RESULT OF OPERATIONS. THE CREDIT UNION'S 2020 THROUGH 2022 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. 1 COLLEGE SCHOLARSHIP 23 40000 FORM 990, SCHEDULE I, PART III (B) THE ORGANIZATION PROVIDED SCHOLARSHIP ASSISTANCE TO 23 INDIVIDUAL STUDENTS IN 2022. X 1 1 X X 1 0 0 CHRISTOPHER G PARKER PRESIDENT/CEO 566500 0 0 0 7200 0 42001 0 31729 0 647430 0 0 0 ANDREA PRUNA SVP CHIEF MARKETING & RETA 263932 0 17711 0 0 0 29447 0 31729 0 342819 0 0 0 KELLY MCGRATH SVP CHIEF LENDING OFFICER 252514 0 16875 0 0 0 27352 0 9912 0 306653 0 0 0 LEE P SCHAFER SVP CHIEF HUMAN RESOURCES 242051 0 15438 0 0 0 28324 0 8683 0 294496 0 0 0 SEAN KARAS MCNAIR CHIEF MEMBER EXPERIENCE AND DIGITAL 260798 0 0 0 0 0 21033 0 0 0 281831 0 0 0 SUSAN HANNIGAN SVP CFO (ENDED 6/2022) 153361 0 17029 0 84183 0 18099 0 0 0 272672 0 0 0 ARTHUR WILLIAM MACGREGOR SALES REP 215835 0 6839 0 0 0 23386 0 17745 0 263805 0 0 0 TRACI J TENGGREN VP HUMAN RESOURCES 195313 0 12855 0 0 0 22769 0 31729 0 262666 0 0 0 MICHAEL H GAGNON SVP CHIEF TECHNOLOGY OFFIC 216647 0 17934 0 0 0 24838 0 0 0 259419 0 0 0 CHRISTINA J ZAUDKE VP BRANCH STRATEGY AND INN 185477 0 11846 0 0 0 21600 0 31729 0 250652 0 0 0 ANA MICHELE FORET SVP CRO (ENDED 9/2/2022) 178875 0 14071 0 32387 0 20374 0 0 0 245707 0 0 0 RICHARD LIPARI VP OPERATIONS 179314 0 11948 0 0 0 19912 0 32706 0 243880 0 0 0 BONNIE J WARD VP IT 185824 0 10325 0 0 0 19629 0 20149 0 235927 0 0 0 CHRISTOPHER SAUCIER VP MORTGAGE 157830 0 10237 0 0 0 17969 0 24967 0 211003 0 0 0 SUZANNE R LADD VP CONSUMER DIRECT LENDING 166502 0 11343 0 0 0 19466 0 9912 0 207223 0 0 0 DOUGLAS SITES VP CONSUMER & INDIRECT LENDING 143850 0 9414 0 0 0 15272 0 31729 0 200265 0 0 0 DAVID ARTHUR PERRON AVP IT 153429 0 3130 0 0 0 17219 0 20967 0 194745 0 0 0 DEBORAH AUGER VP MARKETING 135911 0 9301 0 5218 0 15178 0 10479 0 176087 0 0 0 SEAN TIPTON AVP CONTACT CENTER 129478 0 4434 0 0 0 14691 0 21307 0 169910 0 0 0 JUNE GOULDSBROUGH AVP ECOMMERCE 132882 0 4553 0 12899 0 14211 0 0 0 164545 0 0 0 JEANNE WARD AVP COLLECTIONS 133255 0 4528 0 0 0 15078 0 11373 0 164234 0 0 0 MICHAEL RUMO AVP REGIONAL SALES MANAGER 111494 0 9198 0 0 0 13211 0 20967 0 154870 0 0 0 STEPHEN WILLIAM BECKER VP FINANCIAL PLANNING & ANALYSIS 129486 0 10100 0 0 0 10572 0 3560 0 153718 0 0 0 PART I, LINE 4A SUSAN HANNIGAN RECEIVED A $84,183 SEVERANCE PAYMENT FORM 990, PART VI, SECTION A, LINE 6 MEMBERS FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION MEMBERS HAVE THE RIGHT TO ELECT THE MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B ANNUAL ELECTIONS OF THE BOARD DIECTORS ARE SUBJECT TO MEMBERS VOTING AT THE ANNUAL MEETING FORM 990, PART VI, SECTION B, LINE 11B VP/CONTROLLER IS RESPONSIBLE FOR THE OVERSIGHT FOR THE COMPLETION OF THE 990 WHICH IS THEN FORWARDED ONTO THE SVP/CFO AND PRESIDENT FOR REVIEW AND THEN BROUGHT TO THE BOARD FOR APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C REQUIRES ANNUAL SIGNATURES FROM THE BOARD OF DIRECTORS ON OUR CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 WE USE AN OUTSIDE FIRM TO MONITOR PAY LEVELS WITH SIMILAR JOB TITLES AT THE CREDIT UNION. THE NAME OF THE OUTSIDE COMPANY USED IS COMPEASE. FORM 990, PART VI, SECTION C, LINE 19 MONTHLY FINACIALS ARE POSTED IN ALL BRANCH LOBBIES, AN THE ANNAUL MEETING IS OPEN TO ALL MEMBERS FORM 990, PART IV, LINE 2C: THERE WAS NO CHANGE IN THE OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. NORTHEAST CREDIT UNION FOUNDATION 100 BORTHWICK AVENUE PORTSMOUTH NH 03801 832716428 GRANTMAKING FOUNDATION NH 501(C)(3) PF NORTHEAST CREDIT UNION 1 OCTANT BUSINESS SERVICES 255 GREAT ROAD PO BOX 1530 LITTLETON MA 014604530 201719458 PROVIDES BUSINESS LENDING SUPPORT MA N/A RELATED 29890 221612 0 0 0.12500 BORTHWICK ASSOCIATES PO BOX 269 PORTSMOUTH NH 03801 020385845 INSURANCE & INVESTMENTS NH NORTHEAST CREDIT UNION C 10692 164106 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0