2025-04-30T12:02:38-05:00 2024-12-31 042513210 GERALD T REILLY & COMPANY 424 ADAMS STREET MILTON MA 02186 990 2024-01-01 041896000 LIBERTY BAY CREDIT UNION LIBE 6174396500 300 GRANITE STREET BRAINTREE MA 02184 FREDERICK WILLIAMS SVP, CHIEF FINANCIAL OFFICER 6174396500 2025-04-17 1 0 SEAN MCNEIL CPA P01731264 6176968900 2025-04-17 2024 2025-03-06 01:10:19Z FREDERICK WILLIAMS 300 GRANITE STREET BRAINTREE MA 02184 41682178 0 X WWW.LIBERTYBAYCU.ORG X CREDIT UNION 1917 MA TO OFFER FINANCIAL SERVICES. 13 9 88 8 0 0 0 0 28988836 34203656 4303979 4980145 0 0 33292815 39183801 13000 13000 0 0 10766324 10798445 0 0 0 19075463 25898234 29854787 36709679 3438028 2474122 785580175 808088791 685112836 704965231 100467339 103123560 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 9319 0 1 88 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 FREDERICK WILLIAMS 6174396500 300 GRANITE STREET BRAINTREE MA 02184 GERARD BURM DIRECTOR 2.00 X 0 0 51 THOMAS J FLYNN DIRECTOR 2.00 X 0 0 82 EDWARD R FOLEY AUDIT COMMITTEE CHAIRMAN 2.00 X 0 0 82 PATRICK J FOLEY DIRECTOR 2.00 X 7500 0 133 ROBERT B FOLEY JR TREASURER 2.00 X 4500 0 82 STEPHEN J KELLEY SR DIRECTOR 2.00 X 0 0 51 EUGENE LEAHY DIRECTOR 2.00 X 7500 0 51 EDWARD MCCOLGAN 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 WILLIAM MURPHY DIRECTOR 2.00 X 0 0 51 SEAN CASHMAN SECRETARY 2.00 X 19500 0 204 PETER LINCOLN BOD CHAIRMAN 6.00 X 9000 0 51 KATHERINE PEILATERMINATED JULY 2024 CHIEF ADMINISTRATIVE OFFIC 40.00 X 138653 0 21292 JOSEPH BEARS SVP & CIO 40.00 X 236541 0 56911 FREDERICK WILLIAMS SVP & CHIEF FINANCIAL OFFI 40.00 X 252811 0 56144 PAUL GRAVELLESE SVP & SENIOR LENDING OFFIC 40.00 X 234020 0 53664 MARK CONSTABLE CHIEF COMPLIANCE & CRA OFF 40.00 X 251819 0 56045 BRENDA MCGILLICUDDY SVP PEOPLE OPERATIONS 40.00 X 238259 0 54689 EDWARD LOPES PRESIDENT / CEO 40.00 X 182436 0 22879 CINDI CARLSON VP BRAND & MEMBER EXPERIEN 40.00 X 148881 0 27616 MARGUERITE MURPHY VP MORTGAGE 40.00 X 162177 0 29360 SEAN CHASE BUSINESS BANKING OFFICER 40.00 X 134667 0 25814 MARIA DIBENEDETTO VP HUMAN RESOURCES 40.00 X 133266 0 26426 CAROL SHOUGHROW VP DEPOSIT OPERATIONS 1.00 X 154282 0 46291 JOHN PARILLO FORMER PRESIDENT & CEO 40.00 X 553153 0 39045 2868965 0 517167 25 1 1 0 ROCK BREAKERS LLC 370 MAIN STREET SUITE 880 WORCESTER MA 01608 RENT - 300 GRANITE - NEW 1169177 FISERV PO BOX 934057 ATLANTA GA 311934057 CORE PROVIDER 886614 NCR CORPORATION PO BOX 660367 DALLAS TX 752660367 DATA PROCESSING/WEBSITE 620274 PROFIT RESOURCES INC PO BOX 1248 MONROE GA 30655 INCLUDE - DEBIT CARD REBRANDING SERVICES 263477 LUCRO COMMERCIAL SOLUTIONS INC 1591 SUMMIT LAKE DRIVE SUITE 100 TALLAHASSEE FL 32317 CUSO - COMMERICAL LOANS 199219 5 LOAN INTEREST 522100 30978249 30978249 MISCELLANEOUS INCOME 522100 2101576 2101576 FEES ON ACCOUNTS 522100 1123831 1123831 34203656 4994694 4994694 2483828 2498377 -14549 -14549 -14549 39183801 34189107 0 4994694 13000 3386132 4640185 455572 1622955 693601 621245 109325 166228 181096 1425989 306968 17373314 158134 MISCELLANEOUS 1693120 EQUIPMENT MAINTENANCE 1077188 PROVISION FOR LOAN LOSS 718997 LOAN COLLECTION & OTHER 601138 1465492 36709679 1898225 1259300 22454227 11951477 14532275 12513424 608598338 635483779 598339 491549 9707654 7849027 2191728 1858627 116787407 122443034 10517441 12735433 8002195 9352168 785580175 808088791 8897183 6953303 139000000 157860000 537215653 540151928 685112836 704965231 X 0 0 0 0 100467339 103123560 100467339 103123560 785580175 808088791 X 2474122 293104 -111005 X 0 0 0 409500 409500 1393669 572259 821410 1734733 1267017 467716 2910237 2850446 59791 3259515 3159305 100210 1858627 MEMBER DEPOSITS 525760928 NON-MEMBER DEPOSITS 14391000 540151928 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 FORMER PRESIDENT & CEO 388703 0 164450 0 0 0 34500 0 4545 0 592198 0 0 0 FREDERICK WILLIAMS SVP & CHIEF FINANCIAL OFFI 225147 0 27664 0 0 0 25281 0 30863 0 308955 0 0 0 MARK CONSTABLE CHIEF COMPLIANCE & CRA OFF 224259 0 27560 0 0 0 25182 0 30863 0 307864 0 0 0 JOSEPH BEARS SVP & CIO 210606 0 25935 0 0 0 23654 0 33257 0 293452 0 0 0 BRENDA MCGILLICUDDY SVP PEOPLE OPERATIONS 212259 0 26000 0 0 0 23826 0 30863 0 292948 0 0 0 PAUL GRAVELLESE SVP & SENIOR LENDING OFFIC 208332 0 25688 0 0 0 23402 0 30262 0 287684 0 0 0 EDWARD LOPES PRESIDENT / CEO 182436 0 0 0 0 0 18244 0 4635 0 205315 0 0 0 CAROL SHOUGHROW VP DEPOSIT OPERATIONS 142094 0 12188 0 0 0 15428 0 30863 0 200573 0 0 0 MARGUERITE MURPHY VP MORTGAGE 148697 0 13480 0 0 0 16218 0 13142 0 191537 0 0 0 CINDI CARLSON VP BRAND & MEMBER EXPERIEN 137247 0 11634 0 0 0 14888 0 12728 0 176497 0 0 0 SEAN CHASE BUSINESS BANKING OFFICER 130949 0 3718 0 0 0 13467 0 12347 0 160481 0 0 0 KATHERINE PEILATERMINATED JULY 2024 CHIEF ADMINISTRATIVE OFFIC 112718 0 25935 0 0 0 13865 0 7427 0 159945 0 0 0 MARIA DIBENEDETTO VP HUMAN RESOURCES 122057 0 11209 0 0 0 13327 0 13099 0 159692 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 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 5647695 0 1 1 JOEL KELLER FORMER EVP/CFO SERP X 1765500 1045748 0 1 1 JOSEPH BEAN FORMER SVP SERP X 1706227 2091662 0 1 1 M LYNDON MATTESON III FORMER CHIEF EXECUTIVE OFFICER SERP X 5352000 3728319 0 1 1 12513424 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 CFO 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 -111,005.