2022-05-16T13:19:21-05:00 2021-12-31 042513210 GERALD T REILLY & COMPANY 424 ADAMS STREET MILTON MA 02186 990 2021-01-01 041896000 LIBERTY BAY CREDIT UNION LIBE 6174396500 300 GRANITE STREET BRAINTREE MA 02184 GEORGE KELLY SVP, CHIEF STRATEGY OFFICER 6174396500 2022-05-16 1 GEORGE KELLY 999009999 SEAN MCNEIL CPA P01731264 6176968900 2022-05-16 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z GEORGE KELLY 300 GRANITE STREET BRAINTREE MA 02184 26707938 0 X WWW.LIBERTYBAYCU.ORG X CREDIT UNION 1917 MA TO OFFER FINANCIAL SERVICES. 13 9 92 10 0 0 0 0 22410666 21855844 3339318 2352553 0 0 25749984 24208397 11500 12500 0 0 11418178 12609816 0 0 0 12987544 10541682 24417222 23163998 1332762 1044399 701131908 714665238 594245228 610597539 106886680 104067699 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 1 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 10878 0 1 92 1 0 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 FORMER TREASURER 2.00 X 3375 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 FORMER CHAIRMAN 2.00 X 6750 0 82 PATRICK J FOLEY VICE CHAIRMAN 2.00 X 0 0 204 ROBERT B FOLEY JR TREASURER 2.00 X 6125 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 9500 0 204 PETER LINCOLN CHAIRMAN 6.00 X 12250 0 51 STEPHEN FULCHINI SVP, INFORMATION TECHNOLOG 40.00 X 167836 0 30604 KATHERINE PEILA CHIEF ADMIN OFFICER 40.00 X 198360 0 32492 FREDERICK WILLIAMS SVP AND CFO 40.00 X 182628 0 44893 M LYNDON MATTESON III FORMER PRESIDENT / CEO 40.00 X 515210 0 39660 JOHN PARILLO INTERIM PRESIDENT & CEO 40.00 X 416797 0 39660 PAUL GRAVELLESE SVP & CHIEF LENDING OFFIC 40.00 X 178427 0 28503 GEORGE KELLY SVP & CHIEF STRATEGY OFFIC 40.00 X 181788 0 44809 BRIAN LEARY DIRECTOR OF ADVANCED MEMBE 40.00 X 181951 0 29573 STEPHEN HILE MORTGAGE LOAN OFFICER 40.00 X 286730 0 38627 PAOLA FERRARA MORTGAGE LOAN OFFICER 40.00 X 321071 0 58032 MARGUERITE MURPHY VP MORTGAGE 40.00 X 148615 0 26240 JAMES DOWLING VP, CONTROLLER 40.00 X 146821 0 41312 2964234 0 455549 21 0 1 0 NCR CORPORATION PO BOX 740641 LOS ANGELES CA 90074 DATA PROCESSING 483537 LUCRO COMMERCIAL SOLUTIONS INC 3692 COOLIDGE CT TALLAHASSEE FL 32311 CUSO - COMMERICAL LOANS 184672 GETFUSED 285 SUMMER ST 100 BOSTON MA 02210 BRANDING, MARKETING, DESIGN & TECHNOLOGY 182084 SPECTROTEL PO BOX 1949 NEWARK NJ 07101 TELECOMMUNICATION 154828 4 LOAN INTEREST 522100 18558781 18558781 FEES ON ACCOUNTS 522100 2475419 2475419 MISCELLANEOUS INCOME 522100 821644 821644 21855844 2344451 2344451 2507643 2499541 8102 8102 8102 24208397 21863946 0 2344451 12500 3419779 6401729 587285 1474757 726266 70529 79910 289562 156822 1250241 81348 2142346 636174 MISCELLANEOUS 1850210 EQUIPMENT MAINTENANCE 1275170 LOAN COLLECTION & OTHER 647641 PROVISION FOR LOAN LOSS 425000 1636729 23163998 1816840 1852556 36480783 26638740 14460794 14652600 462634901 485614831 1572990 1208876 12008862 8487237 3864971 3521625 167458112 169281688 9460893 8188469 3381624 3705853 701131908 714665238 4200141 5817418 60000000 27000000 530045087 577780121 594245228 610597539 X 0 0 0 0 106886680 104067699 106886680 104067699 701131908 714665238 X 1044399 -3873523 10143 X X 0 1 X 1 0 409500 409500 1349808 333708 1016100 2128541 1177162 951379 3525722 2710038 815684 4595291 4266329 328962 3521625 MEMBER DEPOSITS 577780121 577780121 24208397 0 24208397 0 24208397 23163998 0 23163998 0 23163998 1 SCHOLARSHIPS TO ENROLLED COLLEGE FRESHMAN WHO ARE MEMBERS OF LBCU - MADE PAYABLE TO THE MEMBERS 12 12500 X 1 1 X X X X 1 0 0 M LYNDON MATTESON III FORMER PRESIDENT / CEO 406101 0 109109 0 0 0 29000 0 10660 0 554870 0 0 0 JOHN PARILLO INTERIM PRESIDENT & CEO 301297 0 115500 0 0 0 29000 0 10660 0 456457 0 0 0 PAOLA FERRARA MORTGAGE LOAN OFFICER 320571 0 500 0 0 0 32107 0 25925 0 379103 0 0 0 STEPHEN HILE MORTGAGE LOAN OFFICER 286230 0 500 0 0 0 28673 0 9954 0 325357 0 0 0 KATHERINE PEILA CHIEF ADMIN OFFICER 198360 0 0 0 0 0 19836 0 12656 0 230852 0 0 0 FREDERICK WILLIAMS SVP AND CFO 182628 0 0 0 0 0 18263 0 26630 0 227521 0 0 0 GEORGE KELLY SVP & CHIEF STRATEGY OFFIC 181788 0 0 0 0 0 18179 0 26630 0 226597 0 0 0 BRIAN LEARY DIRECTOR OF ADVANCED MEMBE 181451 0 500 0 0 0 18195 0 11378 0 211524 0 0 0 PAUL GRAVELLESE SVP & CHIEF LENDING OFFIC 178427 0 0 0 0 0 17843 0 10660 0 206930 0 0 0 STEPHEN FULCHINI SVP, INFORMATION TECHNOLOG 167836 0 0 0 0 0 16784 0 13820 0 198440 0 0 0 JAMES DOWLING VP, CONTROLLER 146821 0 0 0 0 0 14682 0 26630 0 188133 0 0 0 MARGUERITE MURPHY VP MORTGAGE 148615 0 0 0 0 0 14862 0 11378 0 174855 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 5311330 0 1 1 JOEL KELLER FORMER EVP/CFO SERP X 1765500 1869824 0 1 1 JOSEPH BEAN FORMER SVP SERP X 1706227 1928413 0 1 1 M LYNDON MATTESON III FORMER CHIEF EXECUTIVE OFFICER SERP X 5352000 5543033 0 1 1 14652600 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 MONITORS THIS 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 10,143. FORM 990, PART IV, LINE 12 AND FORM 990, PART XI, LINE 2B AUDITED FINANCIAL STATEMENTS WERE PREPARED AS OF 09/30/21