2022-09-21T16:06:02-05:00 2021-12-31 825448715 SPINELLI CPA PC 146 WEST BOYLSTON DRIVE SUITE 302 WORCESTER MA 01606 990 2021-01-01 041680140 ALIGN CREDIT UNION ALIG 8009429575 40 MARKET STREET LOWELL MA 01852 KENNETH M DEL ROSSI PRESIDENT AND CEO 8009429575 2022-09-21 1 KENNETH DEL ROSSI 999009999 KAREN SPINELLI P00644492 5083656522 2022-09-21 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z KENNETH M DEL ROSSI 40 MARKET STREET LOWELL MA 01851 44087228 0 X WWW.ALIGNCU.ORG X CREDIT UNION 1922 MA THE CREDIT UNION ACCEPTS DEPOSITS AND GRANTS LOANS TO ITS MEMBERS. BENEFITS PAID ARE DIVIDENDS ON DEPOSIT ACCOUNTS AND GRANTING ACCESSIBLE CREDIT TO ITS MEMBERS. 11 10 171 0 58560 0 0 0 17206350 14663309 5733297 4975937 5770224 4554502 28709871 24193748 0 210933 3817024 2997465 11733210 11663361 0 0 0 11440281 8911940 26990515 23783699 1719356 410049 692602330 748085438 610741390 673453305 81860940 74632133 THE CREDIT UNION ACCEPT DEPOSITS AND GRANT LOANS TO ITS MEMBERS. BENEFIT PAID ARE DIVIDENDS ON DEPOSIT ACCOUNTS AND GRANTING ACCESSIBLE CREDIT TO ITS MEMBERS. 0 0 2997465 DIVIDENDS AND INTEREST PAID ON MEMBERS DEPOSITS. 12422611 GRANTING CREDIT TO MEMBERS WITH VARIOUS LOAN PRODUCTS. 186228 MEMBER SERVICES INCLUDING DEBIT AND CREDIT CARDS. 15606304 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 14547 0 1 171 1 1 1 0 0 0 0 0 0 0 X 11 10 0 0 0 0 1 1 1 1 1 0 0 0 0 1 1 1 1 0 MA X KENNETH M DEL ROSSI 8009429575 40 MARKET STREET LOWELL MA 01851 GEORGE R GAGAN CHAIRMAN 1.00 X 0 0 0 FRANCIS J MCKENNEY 1ST VICE-CHAIRMAN 1.00 X 0 0 0 KAREN A MORRIS CLERK 1.00 X 0 0 0 STEVEN J BABBITT DIRECTOR 1.00 X 0 0 0 FRANK H LOSPENNATO TREASURER 1.00 X 0 0 0 DAVID R MORRIS DIRECTOR 1.00 X 0 0 0 RICHARD W PIECEWICZ 2ND VICE-CHAIRMAN 1.00 X 0 0 0 LINDA L PURTELL DIRECTOR 1.00 X 0 0 0 ALAN J SEXTON DIRECTOR 1.00 X 0 0 0 MARTIN E CONWAY DIRECTOR 1.00 X 0 0 0 JOSEPH FORSTER DIRECTOR 1.00 X 0 0 0 KATHLEEN E MCKENNEY DIRECTOR 1.00 X 0 0 0 KENNETH M DEL ROSSI PRESIDENT AND CEO 40.00 X X 522798 0 146844 THOMAS HAMMOND CFO 40.00 X 276544 0 51797 BRIAN BACCI EVP/COO 40.00 X 255973 0 29106 JOANNE MCCARTHY SVP RETAIL & CHIEF RETENTION OFFICER 40.00 X 163787 0 20696 LYDIA VAZQUEZ CHIEF LENDING OFFICER 40.00 X 159616 0 40590 MARYANN BEDARD SENIOR VP CONSUMER LENDING 40.00 X 138059 0 29042 SUSAN GILL VP ACCOUNTING/FINANCE 40.00 X 129881 0 29457 TODD CARON CIO 40.00 X 125085 0 38250 SANDRA LAMPLOUGH SVP OPERATIONS 40.00 X 125115 0 28853 MARK PALERMO SVP CHIEF INVESTMENT OFFICER 40.00 X 120981 0 38860 2017839 0 453495 10 0 1 0 FISERV INC 75 REMITTANCE DRIVE SUITE 6969 CHICAGO IL 606756969 FI TECHNOLOGY 1454369 SHI INTERNATIONAL CORP PO BOX 952121 DALLAS TX 753952121 IT SERVICES 201957 VERNCO CENTRE LLC 70 WASHINGTON STREET SUITE 310 SALEM MA 01970 MANAGEMENT COMPANY 176948 RK FRAMINGHAM 50 CABOT STREET SUITE 200 NEEDHAM MA 02494 MANAGEMENT COMPANY 153142 COMPUTER SERVICES INC 3901 TECHNOLOGY DRIVE PADUCAH KY 42001 IT SERVICES 150005 5 INTEREST ON LOANS 522100 14663309 14663309 14663309 4588236 4588236 20281181 19893480 387701 387701 387701 OTHER REVENUE 522100 1970671 1970671 ATM INT CHG INC 522100 1336855 1336855 INT CHG CREDIT CARD 522100 784984 784984 461992 403432 58560 4554502 24193748 23747487 58560 387701 210933 210933 2997465 2997465 1378717 323402 1055315 7554368 7554368 502789 336869 165920 1517091 1016451 500640 710396 475965 234431 71843 71843 796908 796908 1129363 1129363 9472 6346 3126 619993 619993 928046 928046 OTHER EXPENSES 3058399 3058399 SERVICE CONTRACT 1710808 1710808 ADVERTISING/MARKETING 233404 233404 ALL OTHER EXPENSES 195760 195760 157944 157944 23783699 15606304 8177395 0 25409750 18618775 108932464 44265483 394577055 344772102 18421383 9376361 9255232 9045022 140866046 317132396 2880200 2620600 10681583 11631060 692602330 748085438 652066 866105 610089324 672587200 610741390 673453305 X 0 0 0 0 81860940 74632133 81860940 74632133 692602330 748085438 410049 -7638856 0 X 0 1 X 1 0 0 1 X 2125000 2125000 10566927 5053215 5513712 939197 582554 356643 4790259 3740592 1049667 9045022 OTHER LIABILITIES 3507222 BORROWINGS 45000000 MEMBERS' SHARE AND DEPOSIT ACCOUNTS 622305713 MORTGAGORS' TAX ESCROW 1774265 672587200 X 24193748 0 24193748 0 24193748 23783699 0 23783699 0 23783699 PART IV, LINE 2B: THE CREDIT UNION HOLDS FUNDS IN ESCROW TO PAY INSURANCE AND TAXES ON BEHALF OF ITS MORTGAGE LOAN ACCOUNTS. PART X, LINE 2: MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE CREDIT UNION AND HAS CONCLUDED THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. 0 BOYS & GIRLS CLUB OF GREATER LOWELL 657 MIDDLESEX STREET LOWELL MA 01851 042104396 501(C)(3) 15000 0 PROGRAM SUPPORT/LOCAL EVENT GREATER LOWELL YMCA 35 YMCA DRIVE LOWELL MA 01852 042104398 501(C)(3) 6000 0 PROGRAM SUPPORT LWELL COMMUNITY HEALTH CENTER 161 JACKSON STREET LOWELL MA 01852 042881348 501(C)(3) 6000 0 PROGRAM SUPPORT/LOCAL EVENT MANOLIS FAMILY FOUNDATION INC 1067 LAKEVIEW AVENUE DRACUT MA 01826 262711036 501(C)(3) 10000 0 LOCAL COMMUNITY EVENT MIDDLESEX COMMUNITY COLLEGE PO BOX 8681 LOWELL MA 01853 5500 0 PROGRAM SUPPORT 4 1 1 X X X X 0 0 0 KENNETH M DEL ROSSI PRESIDENT AND CEO 489042 0 16905 0 16851 0 29678 0 117166 0 669642 0 0 0 THOMAS HAMMOND CFO 268810 0 5169 0 2565 0 21918 0 29879 0 328341 0 0 0 BRIAN BACCI EVP/COO 255936 0 0 0 37 0 2123 0 26983 0 285079 0 0 0 LYDIA VAZQUEZ CHIEF LENDING OFFICER 156250 0 2971 0 395 0 10777 0 29813 0 200206 0 0 0 JOANNE MCCARTHY SVP RETAIL & CHIEF RETENTION OFFICER 158580 0 3050 0 2157 0 11314 0 9382 0 184483 0 0 0 MARYANN BEDARD SENIOR VP CONSUMER LENDING 134422 0 2585 0 1052 0 10961 0 18081 0 167101 0 0 0 TODD CARON CIO 122180 0 2693 0 212 0 9990 0 28260 0 163335 0 0 0 MARK PALERMO SVP CHIEF INVESTMENT OFFICER 117390 0 3368 0 223 0 9661 0 29199 0 159841 0 0 0 SUSAN GILL VP ACCOUNTING/FINANCE 125846 0 2420 0 1615 0 10261 0 19196 0 159338 0 0 0 SANDRA LAMPLOUGH SVP OPERATIONS 121230 0 2331 0 1554 0 9745 0 19108 0 153968 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION HOLDS AN ANNUAL MEETING ACCORDING TO ITS BYLAWS WHERE ALL MEMBERS ARE GIVEN PROPER NOTIFICATION. THE BYLAWS CALL FOR THE ELECTION OF DIRECTORS WHOSE TERMS HAVE EXPIRED. FORM 990, PART VI, SECTION A, LINE 7B THE CREDIT UNION MEMBERS RATIFY DECISIONS OF THE GOVERNING BODY AT THEIR ANNUAL MEETING AND ELECT DIRECTORS AT THAT TIME. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION CONTRACTS WITH THEIR CPA FIRM TO PREPARE FORM 990. AFTER PREPARATION, A DRAFT COPY IS SENT TO THE PRESIDENT AND CEO AND THE CHIEF FINANCIAL OFFICER FOR REVIEW. ONCE APPROVED THE 990 IS FILED. A COPY OF THE 990 IS PROVIDED TO THE AUDIT COMMITEE AND THE FULL BOARD FOR THEIR REVIEW AND RATIFICATION AT THE MEETING FOLLOWING THE FILING OF THE FORM 990. FORM 990, PART VI, SECTION B, LINE 15 THE CREDIT UNION USES AN OUTSIDE FIRM THAT DOES COMPENSATION ANALYSIS. THE CONSULTING FIRM SURVEY ALL INDUSTRIES BOTH LOCALLY AND NATIONALLY AND PROVIDES THE CREDIT UNION WITH SALARY LEVEL RECOMMENDATIONS. THE CREDIT UNION'S BOARD OF DIRECTORS SPECIFICALLY SETS GOALS FOR THE CEO ANNUALLY AND HE IS THEN EVALUATED ON THESE GOALS AND OFFER SALARY WITHIN THE PROVIDED RANGES. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION MAKES THE DOCUMENT AVAILABLE UPON REQUEST. INLIGN INSURANCE SERVICE LLC 40 MARKET STREET LOWELL MA 01851 852752732 INSURANCE SERVICES MA 35358 218399 ALIGN CREDIT UNION