TRUMARK CREDIT UNION: Form 990, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- TRUMARK CREDIT UNION (EIN 23-1357086)
- Tax period
- 2022-01-01 to 2022-12-31
- Filed
- 2023-11-13
- IRS object ID
- 202313179349308641
- Schema version
- 2022v5.0
- 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 | 2023-11-13T15:14:54-06:00 | ReturnTs |
| Tax Period End | 2022-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 232108173 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RKL LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1330 BROADCASTING ROAD | AddressLine1Txt |
| City | WYOMISSING | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 196106008 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2022-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 231357086 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | TRUMARK FINANCIAL CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | TRUM | BusinessNameControlTxt |
| Phone | 2159535300 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 335 COMMERCE DRIVE | AddressLine1Txt |
| City | FORT WASHINGTON | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 19034 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | VINCENT MARKET | PersonNm |
| Person Title | EVP/CFO | PersonTitleTxt |
| Phone | 2159535300 | PhoneNum |
| Signature | 2023-11-10 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | VINCENT | PersonFirstNm |
| Person Last | MARKET | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | RUTHANN J WOLL CPA | PreparerPersonNm |
| PTIN | P00647342 | PTIN |
| Phone | 6103761595 | PhoneNum |
| Preparation | 2023-11-10 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 3 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | KELLY BOTTI | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 335 COMMERCE DRIVE | AddressLine1Txt |
| City | FORT WASHINGTON | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 19034 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $221,460,123 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.TRUMARKONLINE.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1939 | FormationYr |
| Legal Domicile State | PA | LegalDomicileStateCd |
| Activity Or Mission | SEE SCHEDULE O FOR COMPLETE MISSION STATEMENT. | ActivityOrMissionDesc |
| Voting Members Governing Body | 12 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 12 | VotingMembersIndependentCnt |
| Total Employee | 476 | TotalEmployeeCnt |
| Total Volunteers | 16 | TotalVolunteersCnt |
| Total Gross UBI | $111,264 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $80,626,136 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $88,982,909 | CYProgramServiceRevenueAmt |
| PY Investment Income | $12,978,072 | PYInvestmentIncomeAmt |
| CY Investment Income | $15,047,939 | CYInvestmentIncomeAmt |
| PY Other Revenue | $16,081,614 | PYOtherRevenueAmt |
| CY Other Revenue | $12,703,696 | CYOtherRevenueAmt |
| PY Total Revenue | $109,685,822 | PYTotalRevenueAmt |
| CY Total Revenue | $116,734,544 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $38,926,803 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $37,994,242 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $50,997,409 | PYOtherExpensesAmt |
| CY Other Expenses | $58,828,222 | CYOtherExpensesAmt |
| PY Total Expenses | $89,924,212 | PYTotalExpensesAmt |
| CY Total Expenses | $96,822,464 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $19,761,610 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $19,912,080 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $2,771,242,877 | TotalAssetsBOYAmt |
| Total Assets EOY | $2,953,253,362 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $2,491,935,292 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $2,748,489,341 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $279,307,585 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $204,764,021 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | SEE SCHEDULE O FOR COMPLETE MISSION STATEMENT. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | CREDIT UNIONS ARE COOPERATIVE SAVINGS AND CREDIT ASSOCIATIONS INCORPORATED FOR THE PURPOSE OF PROMOTING THRIFT AMONG ITS MEMBERS, CREATING A SOURCE OF CREDIT FOR SUCH MEMBERS AT REASONABLE RATES OF INTEREST AND PROVIDING AN OPPORTUNITY FOR ITS MEMBERS TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. THE CREDIT UNION SERVES APPROXIMATELY 138,000 MEMBERS WITHIN ITS FIELD OF MEMBERSHIP AS DEFINED BY THE CREDIT UNION'S CHARTER AND BYLAWS. | Desc |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | Yes (1) | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | Yes (1) | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | 0 | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| Info In Schedule O Part V | Yes (X) | InfoInScheduleOPartVInd |
| IRP Document | 121824 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 476 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | Yes (1) | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 12 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 12 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GERARD A DEVITA | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2153966495 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 335 COMMERCE DRIVE | AddressLine1Txt |
| City | FORT WASHINGTON | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 19034 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (24 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| LEONARD V DOUGHTY III | ||||||||
| PRESIDENT | 4.00 | Yes (X) | $36,815 | $0 | $59 | |||
| HUGH T BRAY | ||||||||
| VICE PRESIDENT | 4.00 | Yes (X) | $31,800 | $0 | $0 | |||
| WAYNE J GOODWIN | ||||||||
| TREASURER | 4.00 | Yes (X) | $48,850 | $0 | $0 | |||
| R TERENCE BRUNT | ||||||||
| SECRETARY | 4.00 | Yes (X) | $36,485 | $0 | $59 | |||
| SUZETTE E ADAMS | ||||||||
| DIRECTOR | 4.00 | Yes (X) | $35,949 | $0 | $0 | |||
| JOSEPH J BILY | ||||||||
| DIRECTOR | 4.00 | Yes (X) | $31,493 | $0 | $0 | |||
| JOSEPH CIARANCA | ||||||||
| DIRECTOR | 4.00 | Yes (X) | $30,633 | $0 | $0 | |||
| JAMES DEBOW | ||||||||
| DIRECTOR | 4.00 | Yes (X) | $39,792 | $0 | $69 | |||
| DANIEL DILLARD | ||||||||
| DIRECTOR | 4.00 | Yes (X) | $36,232 | $0 | $0 | |||
| DAVID A RUFIBACH | ||||||||
| DIRECTOR | 4.00 | Yes (X) | $37,936 | $0 | $0 | |||
| KATHLEEN L WELLS | ||||||||
| DIRECTOR | 4.00 | Yes (X) | $36,968 | $0 | $0 | |||
| RICHARD F STIPA | ||||||||
| ASSOCIATE DIRECTOR (BEGINNING 8/1/2022) | 4.00 | Yes (X) | $16,329 | $0 | $0 | |||
| RICHARD F STIPA | ||||||||
| CEO (ENDING 7/31/2022) | 40.00 | $1,198,693 | $0 | $40,094 | Yes (X) | |||
| VINCENT J MARKET | ||||||||
| EVP | 40.00 | $783,532 | $0 | $270,271 | Yes (X) | |||
| KELLY M BOTTI | ||||||||
| CEO (BEGINNING 8/1/2022) | 40.00 | $553,753 | $0 | $53,851 | Yes (X) | |||
| STEVEN OLSON | ||||||||
| SVP | 40.00 | $375,616 | $0 | $28,196 | Yes (X) | |||
| PATRICK O'HALLORAN | ||||||||
| SVP | 40.00 | $366,211 | $0 | $53,851 | Yes (X) | |||
| KAREN SWEENEY | ||||||||
| SVP | 40.00 | $352,448 | $0 | $28,196 | Yes (X) | |||
| MARIANNE DRUMM | ||||||||
| SVP | 40.00 | $230,435 | $0 | $11,439 | Yes (X) | |||
| ELIZABETH KASPERN | ||||||||
| SVP | 40.00 | $353,106 | $0 | $26,849 | Yes (X) | |||
| GERARD DEVITA | ||||||||
| 1ST VP | 40.00 | $297,933 | $0 | $26,743 | Yes (X) | |||
| TUAN LE | ||||||||
| AVP | 40.00 | $242,607 | $0 | $12,124 | Yes (X) | |||
| STEVEN ROSS | ||||||||
| AVP | 40.00 | $229,364 | $0 | $26,207 | Yes (X) | |||
| BENJAMIN FETTERMAN | ||||||||
| 1ST VP | 40.00 | $207,781 | $0 | $17,833 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $5,610,761 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $595,841 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 71 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| PSCU FINANCIAL SERVICES | |||||
| PO BOX 31216 | TAMPA | FL | 33631 | CREDIT CARD NETWORK | $4,011,531 |
| VISA USA INC | |||||
| PO BOX 742233 | LOS ANGELES | CA | 90074 | CREDIT CARD SERVICES | $1,584,291 |
| NCR DIGITAL BANKING | |||||
| PO BOX 740641 | LOS ANGELES | CA | 90074 | ONLINE BANK SOFTWARE | $995,747 |
| JACK & HENRY ASSOCIATES INC | |||||
| PO BOX 609 | MONETT | MO | 65708 | BANK SOFTWARE | $778,084 |
| SHIELDS BUSINESS SOLUTIONS INC | |||||
| PO BOX 609 | MONETT | MO | 65708 | ARMORED CAR SERVICE | $745,122 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 74 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| INCOME ON LOANS | 522100 | $76,098,658 | $76,098,658 | |
| FEES AND CHARGES | 522100 | $12,884,251 | $12,772,987 | $111,264 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $88,982,909 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $14,939,558 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $14,939,558 | RelatedOrExemptFuncIncomeAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $104,543,693 | SecuritiesAmt |
| Other | $290,267 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $104,549,029 | SecuritiesAmt |
| Other | $176,550 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -$5,336 | SecuritiesAmt |
| Other | $113,717 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $108,381 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | -$5,336 | RelatedOrExemptFuncIncomeAmt |
| Exclusion | $113,717 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| MISCELLANEOUS REVENUE | 522100 | $11,985,064 | $11,985,064 |
| GAIN ON SALE OF LOANS | 522100 | $718,632 | $718,632 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $12,703,696 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $116,734,544 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $116,509,563 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $111,264 | UnrelatedBusinessRevenueAmt |
| Exclusion | $113,717 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,713,225 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $27,925,753 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,046,136 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,179,743 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,129,385 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $794,111 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,173,719 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,392,682 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,197,013 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,856,781 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,864,530 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,817,532 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,063,756 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $38,153 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $15,691,387 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,173,564 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $324,317 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| VISA SERVICE FEES | $6,081,735 |
| PROVISION FOR LOAN LOSS | $4,885,500 |
| COLLECTIONS AND LOAN SE | $3,515,846 |
| NON OPERATING EXPENSE | $1,374,924 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,582,672 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $96,822,464 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,814,892 | BOYAmt |
| EOY | $9,128,061 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $242,113,588 | BOYAmt |
| EOY | $108,042,569 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $447,776 | BOYAmt |
| EOY | $646,393 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,645,427,174 | BOYAmt |
| EOY | $2,070,142,020 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,766,555 | BOYAmt |
| EOY | $5,886,709 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $68,382,775 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $30,920,528 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $40,286,834 | BOYAmt |
| EOY | $37,462,247 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $734,422,005 | BOYAmt |
| EOY | $607,308,918 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,531,421 | BOYAmt |
| EOY | $17,544,768 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,474,396 | BOYAmt |
| EOY | $1,100,000 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $85,958,236 | BOYAmt |
| EOY | $95,991,677 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,771,242,877 | BOYAmt |
| EOY | $2,953,253,362 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $25,679,558 | BOYAmt |
| EOY | $24,756,963 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,100,368 | BOYAmt |
| EOY | $11,321,454 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $43,359,740 | BOYAmt |
| EOY | $225,500,288 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,411,795,626 | BOYAmt |
| EOY | $2,486,910,636 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,491,935,292 | BOYAmt |
| EOY | $2,748,489,341 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $279,307,585 | BOYAmt |
| EOY | $204,764,021 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $279,307,585 | BOYAmt |
| EOY | $204,764,021 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,771,242,877 | BOYAmt |
| EOY | $2,953,253,362 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $19,912,080 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$94,449,501 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$6,143 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (1) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,941,391 | OtherCostOrOtherBasisAmt |
| Book Value | $1,941,391 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $20,352,315 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,135,752 | DepreciationAmt |
| Book Value | $17,216,563 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $29,630,690 | OtherCostOrOtherBasisAmt |
| Depreciation | $16,245,204 | DepreciationAmt |
| Book Value | $13,385,486 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $15,772,012 | OtherCostOrOtherBasisAmt |
| Depreciation | $11,539,572 | DepreciationAmt |
| Book Value | $4,232,440 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $686,367 | OtherCostOrOtherBasisAmt |
| Book Value | $686,367 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $37,462,247 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (6 entries)
| DescDesc | AmtAmt |
|---|---|
| SHARE DRAFT | $486,342,212 |
| SHARES | $845,451,208 |
| MONEY MARKET ACCOUNTS | $428,075,557 |
| IRA SHARES | $34,148,904 |
| CERTIFICATES | $674,939,017 |
| LEASE LIABILITY | $17,953,738 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $2,486,910,636 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $116,614,684 | TotalRevEtcAuditedFinclStmtAmt |
| Other Revenue | -$119,860 | OtherRevenueAmt |
| Revenue Not Reported | -$119,860 | RevenueNotReportedAmt |
| Revenue Subtotal | $116,734,544 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $116,734,544 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $96,708,747 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | -$113,717 | OtherExpensesIncludedAmt |
| Expenses Not Reported | -$113,717 | ExpensesNotReportedAmt |
| Expenses Subtotal | $96,822,464 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $96,822,464 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | THE CREDIT UNION RECEIVES PRINCIPAL PAYMENTS, INTEREST PAYMENTS, TAX PAYMENTS AND INSURANCE PAYMENTS, IN ITS ROLE AS A LOAN SERVICER, AND THEN REMITS THESE FUNDS TO THE APPLICABLE THIRD PARTIES. |
| PART X, LINE 2: | THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE (IRC) AND STATE TAX LAWS. THE INCOME TAXES TOPIC OF FASB ASC CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE INTERPRETATION PROVIDES CRITERIA FOR ASSESSMENT OF INDIVIDUAL TAX POSITIONS AND A PROCESS FOR RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. TAX POSITIONS ARE EVALUATED ON WHETHER THEY MEET THE "MORE LIKELY THAN NOT" STANDARD FOR SUSTAINABILITY ON EXAMINATION BY TAX AUTHORITIES. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION AS DEFINED IN IRC SECTION 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES DIRECTLY RELATED TO ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME DERIVED BY STATE-CHARTERED CREDIT UNIONS. MANAGEMENT HAS ASSESSED THE CREDIT UNION'S ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY AND DETERMINED THAT THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OF DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. ADDITIONALLY, NO INTEREST AND PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. CURRENTLY, THE 2021, 2020, AND 2019 FEDERAL INCOME TAX RETURNS ARE OPEN FOR EXAMINATION BY THE INTERNAL REVENUE SERVICE (IRS). THE FILING YEARS OPEN FOR EXAMINATION BY THE STATE, IF APPLICABLE, MAY BE EQUAL TO, GREATER THAN, OR LESS THAN THE YEARS OPEN FOR EXAMINATION BY THE IRS. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | AMORTIZATION OF UNREALIZED GAIN - SALE OF INVESTMENTS HELD TO MATURITY -807. RELCASSIFICATION ADJUSTMENT FOR SALE OF INVESTMENTS INCLUDED IN NET INCOME -5,336. LOSS ON SALE OF ASSETS -113,717. |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | LOSS ON SALE OF ASSETS -113,717. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| First Class Or Charter Travel | Yes (X) | FirstClassOrCharterTravelInd |
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (12 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| RICHARD F STIPA | ||||||||||||||
| CEO (ENDING 7/31/2022) | $733,758 | $0 | $464,935 | $0 | $0 | $0 | $15,250 | $0 | $24,844 | $0 | $1,238,787 | $0 | $165,226 | $0 |
| VINCENT J MARKET | ||||||||||||||
| EVP | $678,310 | $0 | $105,222 | $0 | $0 | $0 | $243,250 | $0 | $27,021 | $0 | $1,053,803 | $0 | $300,000 | $0 |
| KELLY M BOTTI | ||||||||||||||
| CEO (BEGINNING 8/1/2022) | $484,445 | $0 | $69,308 | $0 | $0 | $0 | $15,250 | $0 | $38,601 | $0 | $607,604 | $0 | $0 | $0 |
| PATRICK O'HALLORAN | ||||||||||||||
| SVP | $296,594 | $0 | $69,617 | $0 | $0 | $0 | $15,250 | $0 | $38,601 | $0 | $420,062 | $0 | $0 | $0 |
| STEVEN OLSON | ||||||||||||||
| SVP | $307,431 | $0 | $68,185 | $0 | $0 | $0 | $15,250 | $0 | $12,946 | $0 | $403,812 | $0 | $0 | $0 |
| KAREN SWEENEY | ||||||||||||||
| SVP | $293,795 | $0 | $58,653 | $0 | $0 | $0 | $15,250 | $0 | $12,946 | $0 | $380,644 | $0 | $0 | $0 |
| ELIZABETH KASPERN | ||||||||||||||
| SVP | $290,035 | $0 | $63,071 | $0 | $0 | $0 | $13,903 | $0 | $12,946 | $0 | $379,955 | $0 | $0 | $0 |
| GERARD DEVITA | ||||||||||||||
| 1ST VP | $257,614 | $0 | $40,319 | $0 | $0 | $0 | $15,232 | $0 | $11,511 | $0 | $324,676 | $0 | $0 | $0 |
| STEVEN ROSS | ||||||||||||||
| AVP | $36,000 | $0 | $193,364 | $0 | $0 | $0 | $12,133 | $0 | $14,074 | $0 | $255,571 | $0 | $0 | $0 |
| TUAN LE | ||||||||||||||
| AVP | $36,000 | $0 | $206,607 | $0 | $0 | $0 | $12,124 | $0 | $0 | $0 | $254,731 | $0 | $0 | $0 |
| MARIANNE DRUMM | ||||||||||||||
| SVP | $202,738 | $0 | $27,697 | $0 | $0 | $0 | $11,439 | $0 | $0 | $0 | $241,874 | $0 | $0 | $0 |
| BENJAMIN FETTERMAN | ||||||||||||||
| 1ST VP | $178,249 | $0 | $29,532 | $0 | $0 | $0 | $10,599 | $0 | $7,234 | $0 | $225,614 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 4B | FormAndLineReferenceDesc |
| Explanation | VINCENT J. MARKET, PARTICIPATED IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. THE CREDIT UNION ACCURED $228,000 TOWARD THE BENEFIT LIABILITY. RICHARD F. STIPA RECEIVED $165,226 IN PAYMENTS FROM THIS PLAN IN 2022 AND VINCENT J. MARKET RECEIVED $300,000 IN PAYMENTS FROM THIS PLAN IN 2022. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (13 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: | TRUMARK FINANCIAL CREDIT UNION IS A NOT-FOR-PROFIT FINANCIAL COOPERATIVE OWNED BY ITS MEMBERS IN ACCORDANCE WITH THE PROVISIONS OF TITLE 17, CREDIT UNION CODE UNDER THE GUIDELINES OF THE COMMONWEALTH OF PENNSYLVANIA, DEPARTMENT OF BANKING FOR THE PURPOSE OF PROMOTING THRIFT AMONG ITS MEMBERS, CREATING A SOURCE OF CREDIT AT REASONABLE RATES OF INTEREST AND PROVIDING AN OPPORTUNITY FOR ITS MEMBERS TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. |
| FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: | TRUMARK FINANCIAL CREDIT UNION IS A NOT-FOR-PROFIT FINANCIAL COOPERATIVE OWNED BY ITS MEMBERS IN ACCORDANCE WITH THE PROVISIONS OF TITLE 17, CREDIT UNION CODE UNDER THE GUIDELINES OF THE COMMONWEALTH OF PENNSYLVANIA, DEPARTMENT OF BANKING FOR THE PURPOSE OF PROMOTING THRIFT AMONG ITS MEMBERS, CREATING A SOURCE OF CREDIT AT REASONABLE RATES OF INTEREST AND PROVIDING AN OPPORTUNITY FOR ITS MEMBERS TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. |
| FORM 990, PART V, LINE 1C: | THE ORGANIZATION DID NOT HAVE ANY INSTANCES WHERE BACKUP WITHHOLDING WAS REQUIRED, HOWEVER IF THE SITUATION WOULD ARISE, THE ORGANIZATION IS AWARE OF THE REPORTING REQUIREMENTS AND WOULD HANDLE THAT ACCORDINGLY. |
| FORM 990, PART V, LINE 2C: | THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. |
| FORM 990, PART VI, SECTION A, LINE 6 | TRUMARK FINANCIAL CREDIT UNION IS A NOT-FOR-PROFIT FINANCIAL COOPERATIVE OWNED BY ITS MEMBERS IN ACCORDANCE WITH THE PROVISIONS OF TITLE 17, CREDIT UNION CODE UNDER THE GUIDELINES OF THE COMMONWEALTH OF PENNSYLVANIA, DEPARTMENT OF BANKING FOR THE PURPOSE OF PROMOTING THRIFT AMONG ITS MEMBERS, CREATING A SOURCE OF CREDIT AT REASONABLE RATES OF INTEREST AND PROVIDING AN OPPORTUNITY FOR ITS MEMBERS TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. THE CREDIT UNION SERVES APPROXIMATELY 138,000 MEMBERS WITHIN ITS FIELD OF MEMBERSHIP AS DEFINED BY THE CREDIT UNION'S CHARTER AND BYLAWS. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE CREDIT UNION'S GOVERNING BODY IS COMPRISED OF TWELVE MEMBERS WHO ARE ELECTED BY THE GENERAL MEMBERSHIP TO TERMS OF THREE YEARS. |
| FORM 990, PART VI, SECTION A, LINE 7B | ANY MAJOR CHARTER RELATED DECISIONS (MERGERS, CONVERSIONS, ETC) WOULD REQUIRE APPROVAL FROM THE GENERAL MEMBERSHIP. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE CREDIT UNION'S CFO WORKS WITH A CPA FIRM TO COMPLETE THE FORM 990. THE CREDIT UNION'S CFO REVIEWS THE FORM 990 FOR ACCURACY. ALSO, THE ORGANIZATION'S BOARD OF DIRECTORS IS PROVIDED THE FORM 990 IN ADVANCE OF FILING. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE CODE OF ETHICS/CONFLICTS OF INTEREST POLICY IS REVIEWED ANNUALLY BY HUMAN RESOURCES, SENIOR MANAGEMENT AND LEGAL COUNSEL. APPROPRIATE CHANGES/UPDATES ARE MADE AS NEEDED. THE POLICY IS PRESENTED TO THE BOARD OF DIRECTORS FOR THEIR REVIEW AND APPROVAL ANNUALLY AND A COPY IS GIVEN TO ALL MANAGERS/SUPERVISORS FOR REVIEW WITH THE EMPLOYEES AT THEIR MONTHLY DEPARTMENT/BRANCH MEETING. THE EMPLOYEE HANDBOOK IS POSTED ON THE CREDIT UNION'S INTRANET. ALSO, EMPLOYEES ARE REQUIRED TO SIGN AN ANNUAL "EMPLOYEE ACKNOWLEDGEMENT FORM" ACKNOWLEDGING THEY HAVE ON-LINE ACCESS TO THIS HANDBOOK AND UNDERSTAND THEIR RESPONSIBILITY TO READ AND COMPLY WITH THE POLICIES CONTAINED IN THE HANDBOOK AND ANY REVISIONS MADE TO IT. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE CREDIT UNION ENGAGED D HILTON ASSOCIATES, INC WHO PROVIDES THE BOARD OF DIRECTORS WITH AN ANNUAL EXECUTIVE COMPENSATION UPDATE THAT ALLOWS THE BOARD TO MONITOR COMPENSATION TRENDS IN THE CREDIT UNION INDUSTRY AND TO ENSURE THAT THE CURRENT CEO COMPENSATION PROGRAM REMAINS FAITHFUL TO THE ORGANIZATION'S STATED EXECUTIVE COMPENSATION PHILOSOPHY. THIS ANNUAL REVIEW ENSURES THAT ITS CEO'S SALARY, TARGET INCENTIVE PAY, AND BENEFITS REMAIN IN AN APPROPRIATE RELATIONSHIP TO THE MARKET. IN ADDITION, THE CEO'S SUPPLEMENTAL RETIREMENT ACCOUNT IS REVIEWED WITH THE BOARD TO EVALUATE INVESTMENT PERFORMANCE AND TO CONSIDER ANY PROGRAM ADJUSTMENTS THAT NEED TO BE MADE TO ENSURE THE PROGRAM REMAINS ON TRACK. AN EXECUTIVE EMPLOYMENT AGREEMENT FOR THE CEO IS REVIEWED BY THE BOARD OF DIRECTORS ANNUALLY, ANY RECOMMENDED CHANGES ARE REVIEWED AND IMPLEMENTED WITH LEGAL COUNSEL. THE CREDIT UNION ENGAGES D. HILTON ASSOCIATES, INC TO CONDUCT SALARY ADMINISTRATION UPDATE OF ALL STAFF POSITIONS EVERY THREE YEARS AND PROVIDES ONGOING SUPPORT BY THE MARKET PRICING RESULTS TO COMPARE THE COMPETITIVENESS OF THE CREDIT UNION'S SALARY STRUCTURE AND AVERAGE SALARIES TO THE MARKET. D HILTON ANNUALLY PROVIDES RECOMMENDED SALARY RANGE STRUCTURE CHANGES, A MERIT INCREASE MATRIX AND MARKET PRICES NEW POSITIONS. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE CREDIT UNION POSTS MONTHLY INTERNAL FINANCIAL STATEMENTS IN EACH LOCATION FOR REVIEW BY THE PUBLIC. IN ADDITION, AN ANNUAL REPORT WITH AUDITED FINANCIAL STATEMENTS IS PREPARED AND DISTRIBUTED AT THE CREDIT UNION'S ANNUAL MEETING IN MARCH. |
| FORM 990, PART XI, LINE 9: | RECLASSIFICATION ADJUSTMENT FOR NET INVESTMENT LOSSES -5,336. AMORTIZATION OF UNREALIZED GAIN FROM TRANSFER OF AFS TO HTM -807. |
| FORM 990, PART XII, LINE 2C: | THERE WERE NO CHANGES IN THE PROCESS OF THE COMITTEE THAT ASSUMES RESPONSIBILTY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | INSURANCE SERVICES AT TRUMARK FINANCIAL LLC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 335 COMMERCE DR | AddressLine1Txt |
| City | FORT WASHINGTON | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 19034 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 202371311 | EIN |
| Primary Activities | INSURANCE SALES | PrimaryActivitiesTxt |
| Legal Domicile State | PA | LegalDomicileStateCd |
| Total Income | $114,174 | TotalIncomeAmt |
| End Of Year Assets | $3,437,164 | EndOfYearAssetsAmt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | TRUMARK FINANCIAL CREDIT UNION | BusinessNameLine1Txt |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LSOP 3 PA 2 LLC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 335 COMMERCE DR | AddressLine1Txt |
| City | FORT WASHINGTON | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 19034 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 814647573 | EIN |
| Primary Activities | REAL ESTATE HOLDING COMPANY | PrimaryActivitiesTxt |
| Legal Domicile State | PA | LegalDomicileStateCd |
| Entity Type | C | EntityTypeTxt |
| Share Of Total Income | $2,010,856 | ShareOfTotalIncomeAmt |
| Share Of EOY Assets | $21,807,278 | ShareOfEOYAssetsAmt |
| Ownership | 1.00000 | OwnershipPct |
| Controlled Organization | 0 | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |