NUTMEG STATE FINANCIAL CREDIT UNION: Form 990, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- NUTMEG STATE FINANCIAL CREDIT UNION (EIN 06-0655039)
- Tax period
- 2024-01-01 to 2024-12-31
- Filed
- 2025-05-14
- IRS object ID
- 202541349349310009
- Schema version
- 2024v5.1
- 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 | 2025-05-14T15:15:56-05:00 | ReturnTs |
| Tax Period End | 2024-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 060903326 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WHITTLESEY PC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 280 TRUMBULL ST 24TH FL | AddressLine1Txt |
| City | HARTFORD | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 06103 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2024-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 060655039 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NUTMEG STATE FINANCIAL CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | NUTM | BusinessNameControlTxt |
| Phone | 8605135000 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 500 ENTERPRISE DRIVE 4A | AddressLine1Txt |
| City | ROCKY HILL | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 06067 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | CRAIG KNELL | PersonNm |
| Person Title | CHIEF FINANCIAL OFFICER | PersonTitleTxt |
| Phone | 8605135000 | PhoneNum |
| Signature | 2025-05-14 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | THOMAS GOLDFUSS CPA | PreparerPersonNm |
| PTIN | P01373588 | PTIN |
| Phone | 8605223111 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2024 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | CRAIG KNELL | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 500 ENTERPRISE DRIVE 4A | AddressLine1Txt |
| City | ROCKY HILL | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 06067 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $42,083,890 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.NUTMEGSTATEFCU.ORG | WebsiteAddressTxt |
| Type Of Organization Other | Yes (X) | TypeOfOrganizationOtherInd |
| Other Organization Dsc | CREDIT UNION | OtherOrganizationDsc |
| Formation | 1936 | FormationYr |
| Legal Domicile State | CT | LegalDomicileStateCd |
| Activity Or Mission | TO CREATE MULTI-GENERATIONAL PROSPERITY BY PROVIDING INCLUSIVE AND EQUITABLE ACCESS TO FINANCIAL PRODUCTS, SERVICES AND EDUCATION. | ActivityOrMissionDesc |
| Voting Members Governing Body | 7 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 141 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $491,177 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $31,323,728 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $34,954,717 | CYProgramServiceRevenueAmt |
| PY Investment Income | $2,723,912 | PYInvestmentIncomeAmt |
| CY Investment Income | $6,990,064 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $208,561 | CYOtherRevenueAmt |
| PY Total Revenue | $34,047,640 | PYTotalRevenueAmt |
| CY Total Revenue | $42,153,342 | 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 | $13,057,249 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $13,588,509 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $18,847,376 | PYOtherExpensesAmt |
| CY Other Expenses | $26,080,124 | CYOtherExpensesAmt |
| PY Total Expenses | $31,904,625 | PYTotalExpensesAmt |
| CY Total Expenses | $39,668,633 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $2,143,015 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $2,484,709 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $584,719,438 | TotalAssetsBOYAmt |
| Total Assets EOY | $697,084,624 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $512,249,732 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $616,759,819 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $72,469,706 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $80,324,805 | NetAssetsOrFundBalancesEOYAmt |
| Mission | TO CREATE MULTI-GENERATIONAL PROSPERITY BY PROVIDING INCLUSIVE AND EQUITABLE ACCESS TO FINANCIAL PRODUCTS, SERVICES AND EDUCATION. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | TO PROVIDE FINANCIAL SERVICES TO OUR MEMBERS WITH LOW INTEREST RATE LOANS AND HIGH DIVIDEND RATE SHARE ACCOUNTS. | 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 | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (1) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | 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 | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 71 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 141 | 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 |
| 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 | 7 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 7 | 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 | Yes (1) | LocalChaptersInd |
| Policies Reference Chapters | Yes (1) | PoliciesReferenceChaptersInd |
| Form990 Provided To Gvrn Body | 0 | 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 |
| States Where Copy Of Return Is Fld | CT | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE ORGANIZATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 8605135000 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 500 ENTERPRISE DRIVE 4A | AddressLine1Txt |
| City | ROCKY HILL | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 06067 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (26 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd |
|---|---|---|---|---|---|---|---|---|
| JOHN HOLT | ||||||||
| CHIEF EXECUTIVE OFFICER | 40.00 | Yes (X) | $1,040,824 | $0 | $50,078 | |||
| PATRICK AHERN | ||||||||
| PRESIDENT, CHIEF OPERATING OFFICER | 40.00 | Yes (X) | $552,702 | $0 | $50,339 | |||
| MARK CORNACCHIO | ||||||||
| STRATEGIC ADVISOR | 40.00 | Yes (X) | $306,813 | $0 | $16,246 | |||
| HEATHER GATES | ||||||||
| SVP, CHIEF LENDING OFFICER | 40.00 | Yes (X) | $299,863 | $0 | $61,323 | |||
| VINCENT ANGELILLO | ||||||||
| SVP SALES & MARKETING, CHIEF EXPERIENCE OFFICER | 40.00 | Yes (X) | $293,150 | $0 | $24,528 | |||
| CRAIG KNELL | ||||||||
| SVP, CHIEF FINANCIAL OFFICER | 40.00 | Yes (X) | $278,382 | $0 | $24,971 | |||
| ROBIN DEL VECCHIO | ||||||||
| SVP TECHNOLOGY & OPERATIONS | 40.00 | Yes (X) | $266,750 | $0 | $60,892 | |||
| KENNETH LAWLESS | ||||||||
| DIRECTOR, INFORMATION TECHNOLOGY SERVICES | 40.00 | $194,522 | $0 | $22,446 | Yes (X) | |||
| KYLE CHRISTOPHER DAHN | ||||||||
| DIRECTOR OF ACCOUNTING | 40.00 | $168,591 | $0 | $4,573 | Yes (X) | |||
| JAVIER ROMAN | ||||||||
| DIRECTOR MEMBER SUCCESS | 40.00 | $164,937 | $0 | $17,806 | Yes (X) | |||
| JULIE ELDRIDGE | ||||||||
| DIRECTOR, PEOPLE AND CULTURE | 40.00 | $160,386 | $0 | $20,601 | Yes (X) | |||
| SHANON PETERS | ||||||||
| DIRECTOR, ENTERPRISE RISK MANAGEMENT | 40.00 | $146,043 | $0 | $41,454 | Yes (X) | |||
| PATRICK O'NEILL | ||||||||
| INFORMATION SECURITY ANALYST | 40.00 | $134,063 | $0 | $20,252 | Yes (X) | |||
| KATY LITTLE | ||||||||
| DIRECTOR, CONSUMER LENDING | 40.00 | $131,331 | $0 | $18,558 | Yes (X) | |||
| DANIELLE JACK | ||||||||
| DIRECTOR OF ADMINISTRATION | 40.00 | $129,398 | $0 | $17,214 | Yes (X) | |||
| DEVIN OBEDZINSKI | ||||||||
| FINANCE DIRECTOR | 40.00 | $123,567 | $0 | $47,937 | Yes (X) | |||
| AL FESTINI | ||||||||
| STRATEGIC PARTNERSHIPS | 40.00 | Yes (X) | $161,381 | $0 | $0 | |||
| SHANE DUGAN | ||||||||
| COMMERCIAL AND MORTGAGES | 40.00 | $157,457 | $0 | $18,329 | Yes (X) | |||
| DR LUIS RAMOS | ||||||||
| CHAIR | 1.00 | $14,253 | $0 | $0 | Yes (X) | |||
| WALLACE ABRAMSON | ||||||||
| DIRECTOR EMERITUS | 1.00 | $7,800 | $0 | $0 | Yes (X) | |||
| PJ CIMINI ESQ | ||||||||
| GOVERNANCE COMMITTEE CHAIR | 1.00 | $0 | $0 | $0 | Yes (X) | |||
| MIKE PETTI | ||||||||
| VICE CHAIR | 1.00 | $13,467 | $0 | $0 | Yes (X) | |||
| MARIA DEMARCO | ||||||||
| SUPERVISORY COMMITTEE CHAIR | 1.00 | $7,800 | $0 | $0 | Yes (X) | |||
| MIKE GODBOUT | ||||||||
| TREASURER | 1.00 | $3,367 | $0 | $0 | Yes (X) | |||
| BETH BUNKO | ||||||||
| SECRETARY | 1.00 | $1,394 | $0 | $0 | Yes (X) | |||
| STEVEN HERNANDEZ ESQ | ||||||||
| 2GEN COMMITTEE CHAIR | 1.00 | $5,200 | $0 | $0 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $4,763,441 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $517,547 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 23 | 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 |
|---|---|---|---|---|---|
| ALKAMI TECHNOLOGY INC | |||||
| 5601 GRANITE PARKWAY 120 | PLANO | TX | 75024 | TECHNOLOGY SERVICES | $634,048 |
| BUSINESS DATA INC | |||||
| 321 N OAK STREET | INGLEWOOD | CA | 90302 | CLOUD STORAGE | $465,923 |
| MKS 500 ENTERPRISE | |||||
| 500 ENTERPRISE DRIVE | ROCKY HILL | CT | 06067 | BUSINESS SERVICES | $457,914 |
| CSB CONSTRUCTION INC | |||||
| 4 INDUSTRIAL CIRCLE | HAMDEN | CT | 06517 | CONSTRUCTION | $380,463 |
| TRANSUNION LLC | |||||
| 555 W ADAMS STREET | CHICAGO | IL | 60661 | CREDIT REPORTS | $235,401 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 28 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| INTEREST ON LOANS | 522100 | $29,011,586 | $29,011,586 | |
| OTHER OPERATING INCOME | 900099 | $5,451,954 | $5,451,954 | |
| UNRELATED BUSINESS INCOME | 900099 | $472,150 | $472,150 | |
| UNRELATED BUSINESS INCOME | 524298 | $19,027 | $19,027 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $34,954,717 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $4,741,702 | TotalRevenueColumnAmt |
| Exclusion | $4,741,702 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $208,561 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $208,561 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $208,561 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $208,561 | RelatedOrExemptFuncIncomeAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $2,178,910 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | -$69,452 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $2,248,362 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,248,362 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $2,248,362 | RelatedOrExemptFuncIncomeAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $42,153,342 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $36,920,463 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $491,177 | UnrelatedBusinessRevenueAmt |
| Exclusion | $4,741,702 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,045,395 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,988,889 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $775,729 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $934,552 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $843,944 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $370,188 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,449,482 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,978,648 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $348,916 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,000 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,790,114 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $799,383 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $185,638 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| PROVISION FOR CREDIT LO | $2,656,989 |
| PROFESSIONAL AND OUTSID | $1,877,735 |
| CREDIT CARD PROCESSING | $1,868,943 |
| LOAN SERVICING AND REWA | $1,594,127 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,154,961 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $39,668,633 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,008,629 | BOYAmt |
| EOY | $28,127,906 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,739,071 | BOYAmt |
| EOY | $4,099,826 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $444,855,784 | BOYAmt |
| EOY | $552,099,773 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $21,147,138 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $15,320,799 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,641,167 | BOYAmt |
| EOY | $5,826,339 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $86,893,374 | BOYAmt |
| EOY | $83,210,259 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,970,000 | BOYAmt |
| EOY | $4,362,440 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $37,611,413 | BOYAmt |
| EOY | $19,358,081 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $584,719,438 | BOYAmt |
| EOY | $697,084,624 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,299,476 | BOYAmt |
| EOY | $8,779,160 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $15,000,000 | BOYAmt |
| EOY | $17,600,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $489,950,256 | BOYAmt |
| EOY | $590,380,659 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $512,249,732 | BOYAmt |
| EOY | $616,759,819 | 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 | $72,469,706 | BOYAmt |
| EOY | $80,324,805 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $72,469,706 | BOYAmt |
| EOY | $80,324,805 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $584,719,438 | BOYAmt |
| EOY | $697,084,624 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $2,484,709 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $22,092 | NetUnrlzdGainsLossesInvstAmt |
| Prior Period Adjustments | -$3,515,714 | PriorPeriodAdjustmentsAmt |
| Other Changes In Net Assets | $8,864,012 | OtherChangesInNetAssetsAmt |
| 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
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,057,900 | OtherCostOrOtherBasisAmt |
| Book Value | $2,057,900 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $5,908,137 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,072,662 | DepreciationAmt |
| Book Value | $2,835,475 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,062,061 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,890,871 | DepreciationAmt |
| Book Value | $171,190 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $11,011,138 | OtherCostOrOtherBasisAmt |
| Depreciation | $10,357,266 | DepreciationAmt |
| Book Value | $653,872 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $107,902 | OtherCostOrOtherBasisAmt |
| Book Value | $107,902 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $5,826,339 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp (6 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| NCUSIF DEPOSIT | $4,550,010 | C |
| CERTIFICATES OF DEPOSIT | $6,335,583 | C |
| FEDERAL AGENCY SECURITIES | $33,114,470 | F |
| FHLB INVESTMENTS | $1,049,700 | C |
| FEDERAL RESERVE BANK | $35,727,184 | C |
| ALL OTHERS | $2,433,312 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $83,210,259 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| MEMBER SHARES | $584,192,424 |
| LEASE LIABILITIES | $6,188,235 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $590,380,659 | TotalLiabilityAmt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | Yes (1) | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (16 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JOHN HOLT | ||||||||||||||
| CHIEF EXECUTIVE OFFICER | $528,124 | $0 | $257,409 | $0 | $255,291 | $0 | $13,800 | $0 | $36,278 | $0 | $1,090,902 | $0 | $0 | $0 |
| PATRICK AHERN | ||||||||||||||
| PRESIDENT, CHIEF OPERATING OFFICER | $407,370 | $0 | $145,332 | $0 | $0 | $0 | $13,800 | $0 | $36,539 | $0 | $603,041 | $0 | $0 | $0 |
| MARK CORNACCHIO | ||||||||||||||
| STRATEGIC ADVISOR | $306,813 | $0 | $0 | $0 | $0 | $0 | $6,923 | $0 | $9,323 | $0 | $323,059 | $0 | $0 | $0 |
| HEATHER GATES | ||||||||||||||
| SVP, CHIEF LENDING OFFICER | $236,038 | $0 | $63,825 | $0 | $0 | $0 | $9,368 | $0 | $51,955 | $0 | $361,186 | $0 | $0 | $0 |
| VINCENT ANGELILLO | ||||||||||||||
| SVP SALES & MARKETING, CHIEF EXPERIE | $234,806 | $0 | $58,344 | $0 | $0 | $0 | $9,392 | $0 | $15,136 | $0 | $317,678 | $0 | $0 | $0 |
| CRAIG KNELL | ||||||||||||||
| SVP, CHIEF FINANCIAL OFFICER | $223,158 | $0 | $55,224 | $0 | $0 | $0 | $8,926 | $0 | $16,045 | $0 | $303,353 | $0 | $0 | $0 |
| ROBIN DEL VECCHIO | ||||||||||||||
| SVP TECHNOLOGY & OPERATIONS | $205,250 | $0 | $61,500 | $0 | $0 | $0 | $8,210 | $0 | $52,682 | $0 | $327,642 | $0 | $0 | $0 |
| KENNETH LAWLESS | ||||||||||||||
| DIRECTOR, INFORMATION TECHNOLOGY SER | $176,168 | $0 | $18,354 | $0 | $0 | $0 | $7,047 | $0 | $15,399 | $0 | $216,968 | $0 | $0 | $0 |
| KYLE CHRISTOPHER DAHN | ||||||||||||||
| DIRECTOR OF ACCOUNTING | $147,928 | $0 | $20,663 | $0 | $0 | $0 | $4,438 | $0 | $135 | $0 | $173,164 | $0 | $0 | $0 |
| JAVIER ROMAN | ||||||||||||||
| DIRECTOR MEMBER SUCCESS | $144,902 | $0 | $20,035 | $0 | $0 | $0 | $2,878 | $0 | $14,928 | $0 | $182,743 | $0 | $0 | $0 |
| JULIE ELDRIDGE | ||||||||||||||
| DIRECTOR, PEOPLE AND CULTURE | $141,315 | $0 | $19,071 | $0 | $0 | $0 | $5,653 | $0 | $14,948 | $0 | $180,987 | $0 | $0 | $0 |
| SHANON PETERS | ||||||||||||||
| DIRECTOR, ENTERPRISE RISK MANAGEMENT | $128,130 | $0 | $17,913 | $0 | $0 | $0 | $3,844 | $0 | $37,610 | $0 | $187,497 | $0 | $0 | $0 |
| PATRICK O'NEILL | ||||||||||||||
| INFORMATION SECURITY ANALYST | $133,113 | $0 | $950 | $0 | $0 | $0 | $5,324 | $0 | $14,928 | $0 | $154,315 | $0 | $0 | $0 |
| DEVIN OBEDZINSKI | ||||||||||||||
| FINANCE DIRECTOR | $123,004 | $0 | $563 | $0 | $0 | $0 | $4,920 | $0 | $43,017 | $0 | $171,504 | $0 | $0 | $0 |
| AL FESTINI | ||||||||||||||
| STRATEGIC PARTNERSHIPS | $161,381 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $161,381 | $0 | $0 | $0 |
| SHANE DUGAN | ||||||||||||||
| COMMERCIAL AND MORTGAGES | $134,720 | $0 | $22,737 | $0 | $0 | $0 | $5,389 | $0 | $12,940 | $0 | $175,786 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINES 4A-B | FormAndLineReferenceDesc |
| Explanation | AL FESTINI RECEIVED A SEVERANCE PAYMENT OF $161,381 | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | MEMBERS OF THE CREDIT UNION CONSIST OF INIDIVIDUALS AND BUSINESSES MAINTAINING DEPOSIT REQUIREMENTS. |
| FORM 990, PART VI, SECTION A, LINE 7A | MEMBERS IN GOOD STANDING MAY VOTE FOR DIRECTORS AS THEIR TERMS EXPIRE. |
| FORM 990, PART VI, SECTION A, LINE 7B | MEMBERS APPROVE DECISIONS OF THE GOVERNING BOARD IN ACCORDANCE WITH THE CREDIT UNION BY-LAWS. |
| FORM 990, PART VI, SECTION B, LINE 11B | FORM 990 IS REVIEWED WITH THE CEO AND CHAIRMAN OF THE BOARD PRIOR TO FILING. |
| FORM 990, PART VI, SECTION B, LINE 12C | CONFLICT ON INTEREST POLICY IS REVIEWED ANNUALLY BY THE BOARD OF DIRECTORS. |
| FORM 990, PART VI, SECTION B, LINE 15 | OUTSIDE CONSULTANTS ANNUALLY REVIEW PRESIDENT'S/CEO'S COMPENSATION WITH THE BOARD OF DIRECTORS. CEO WORKS WITH A THIRD PARTY TO REVIEW ANNUAL COMPENSATION SURVEYS FOR SENIOR MANAGEMENT. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE CREDIT UNION MAKES ALL GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FINANCIAL STATEMENTS ARE POSTED FOR VIEWING IN ALL BRANCH LOCATIONS. |
| FORM 990, PART XI, LINE 9: | ACQUISITION OF NET ASSETS FROM MERGER 8,864,012. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp (3 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Total IncomeTotalIncomeAmt | End Of Year AssetsEndOfYearAssetsAmt |
|---|---|---|---|---|---|---|---|---|
| DALAND LLC | ||||||||
| 49 PUTNAM BLVD 1027 | GLASTONBURY | CT | 06033 | 860753519 | CU CONSULTING SERVICES | CT | $1,651,820 | $0 |
| MOTOR VEHICLE EXPRESS LLC | ||||||||
| 520 CROMWELL AVENUE | ROCKY HILL | CT | 06067 | 830772098 | PROVIDE CT DMV SERVICES | CT | $83,322 | $346,745 |
| NUTMEG STATE INSURANCE BENEFITS LLC | ||||||||
| 520 CROMWELL AVENUE | ROCKY HILL | CT | 06067 | 203848012 | SALE OF INSURANCE PRODUCTS | CT | $19,027 | $566,083 |