2022-11-03T13:21:38-05:00 2021-12-31 161148763 FIRLEY MORAN FREER & EASSA CPA PC 125 EAST JEFFERSON STREET SUITE 920 SYRACUSE NY 13202 990 2021-01-01 141407718 HUDSON RIVER COMMUNITY CREDIT UNION HUDS 5188863400 ONE THIRD STREET CORINTH NY 12822 SUSAN COMMANDA CEO 5186549028 2022-11-15 1 SUSAN COMMANDA XXX-XX-XXXX JEAN R COLE P00542413 3154727045 2022-11-02 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z CHARLES PASQUARELL ONE THIRD STREET CORINTH NY 12822 18947401 0 X WWW.HRCCU.ORG X STATE CHARTERED CREDIT UNION 1954 NY HRCCU PROVIDES UNIQUE, QUALITY FINANCIAL SERVICES TO IMPROVE THE FINANCIAL WELL-BEING OF MEMBERS AND THEIR FAMILIES BY PROVIDING QUALITY FINANCIAL SERVICES WITH THE BEST OVERALL VALUE. 7 7 98 14 143777 0 0 0 12414057 12041009 140360 150461 5065944 6754165 17620361 18945635 3000 3000 0 0 6599563 6548947 0 0 0 8686149 7853706 15288712 14405653 2331649 4539982 321674377 328733027 284256205 286026526 37418172 42706501 THE PURPOSE OF HUDSON RIVER COMMUNITY CREDIT UNION IS TO PROVIDE QUALITY SERVICES AND PROMOTE THE FINANCIAL WELL-BEING OF ITS MEMBERS AND THEIR FAMILIES. 0 0 THE CREDIT UNION PROVIDES LOW-COST FINANCIAL PRODUCTS AND SERVICES INCLUDING ONLINE-BANKING, ACCESS TO ATM'S AND AN AUDIO-RESPONSE SYSTEM. HRCCU OFFERS LOW INTEREST RATES ON LOANS AND CREDIT CARDS. THE WIDE RANGE OF LOAN PRODUCTS AND INTEREST RATES ENABLE THE CREDIT UNION TO ACCOMODATE AS MANY MEMBER LOANS AS POSSIBLE. COMPETITIVE DIVIDEND RATES ARE PAID ON SAVINGS AND INVESTMENT ACCOUNTS. HRCCU PROVIDES A VARIETY OF PRODUCTS TO MEMBERS TO ACCOMPLISH ITS MISSION. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 42 0 1 98 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 0 NY X KACIE KENYON CPA 5188863400 ONE THIRD STREET CORINTH NY 12822 CAROL ANN PACCO-LONG TREASURER 2.00 X X 0 0 0 CHARLES PASQUARELL PRESIDENT 2.00 X X 0 0 0 STUART FIELD DIRECTOR 2.00 X X 0 0 0 DENISE WILLIAMS DIRECTOR 2.00 X 0 0 0 THOMAS UNCHER SECRETARY 2.00 X X 0 0 0 DINO ROSATI VICE PRESIDENT 2.00 X 0 0 0 ALVEY HARRISON DIRECTOR 2.00 X 0 0 0 HAROLD JONES ASSOCIATE DIRECTOR 2.00 X 0 0 0 SUSAN COMMANDA CEO 40.00 X 312889 0 62326 LORRAINE MAROLA EVP 40.00 X 228561 0 50478 PAULA SHEELY CRO 40.00 X 155125 0 36526 CATHY CARPENTER SVP LENDING 40.00 X 129934 0 14355 ROBERT GERBER CIO 40.00 X 142061 0 27789 968570 0 191474 5 0 1 0 FISERV INC PO BOX 934057 ATLANTA GA 311934057 DATA PROCESSING 1718632 LEE & MASON FINANCIAL SERVICES PO BOX 270 NORTHVILLE NY 12134 LENDING 422242 ELEVATION TEN THOUSAND LLC 7A CENTURY HILL DR LATHAM NY 12110 MARKETING 172469 CONVERGINT TECHNOLOGIES LLCBRANCHSERV 4 RESEARCH DRIVE BETHEL CT 06801 TECHNOLOGY 125554 MERIDIANLINK INC PO BOX 846822 LOS ANGELES CA 900846822 BANK TECHNOLOGY 116694 7 LOAN INTEREST RECEIVED 522100 12041009 12041009 12041009 152227 152227 1766 -1766 -1766 -1766 OTHER OPERATING INCOME 522100 4126886 4027067 99819 FEE INCOME 522100 2583321 2583321 NON-MEMBER ATM FEES 522100 43958 43958 6754165 18945635 18651397 143777 150461 3000 696575 4547699 337687 591364 375622 30044 60723 353751 358237 689334 524154 20305 35582 1134151 523821 97176 STATE TAXES 250 OFFICE OPERATIONS 2792704 LOAN SERVICING 566066 PROVISION FOR LEASE/LOA 442409 224999 14405653 X 3244652 3548556 48864993 39946812 2111421 2132747 252420370 259781540 13768829 4901780 9168950 8867049 1645631 2234246 4218360 12222077 321674377 328733027 14969591 10980555 1480352 1709493 267806262 273336478 284256205 286026526 X 33336175 38624504 4081997 4081997 37418172 42706501 321674377 328733027 X 4539982 748347 X X 0 1 X 1 0 0 1 X 1358800 1358800 9520802 2792545 6728257 179764 45637 134127 2709463 2063598 645865 8867049 MEMBER SHARES & DEPOSITS LESS ESCROW 273336478 273336478 X 18947401 0 18947401 -1766 -1766 18945635 14405653 0 14405653 0 14405653 PART IV, LINE 2B: HRCCU SERVICES MORTGAGE ESCROW ACCOUNTS FOR MEMBERS AND HAS THE AUTHORITY TO MAKE PAYMENTS FOR PROPERTY TAXES, HOMEOWNERS INSURANCE AND OTHER EXPENSES FROM THOSE ACCOUNTS. PART X, LINE 2: THE CREDIT UNION FOLLOWS FASB ASC TOPIC 740-10, "ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES", WHICH CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THERE WAS NO IMPACT TO THE ACCOMPANYING FINANCIAL STATEMENTS ATTRIBUTABLE TO THIS FASB ASC FOR THE YEARS ENDED DECEMBER 31, 2021 AND 2020. PART XI, LINE 4B - OTHER ADJUSTMENTS: NET GAIN/(LOSS) ON SALE OF FIXED ASSETS -1,766. X X X X 0 1 0 SUSAN COMMANDA CEO 290346 0 15000 0 7543 0 28758 0 33568 0 375215 0 0 0 LORRAINE MAROLA EVP 210465 0 16130 0 1966 0 19963 0 30515 0 279039 0 0 0 PAULA SHEELY CRO 152898 0 1500 0 727 0 15724 0 20802 0 191651 0 0 0 ROBERT GERBER CIO 134729 0 6300 0 1032 0 7061 0 20728 0 169850 0 0 0 SCHEDULE J, PART I, 4B ON JUNE 1, 2020 HUDSON RIVER COMMUNITY CREDIT UNION ENTERED IN TO A SPLIT DOLLAR LOAN AGREEMENT WITH SUSAN COMMANDA, CEO. THE FUNDING AMOUNT WAS $2,100,000 AND THE INTEREST ACCRUES AT AN ANNUAL RATE OF 1.01%. DURING 2021 HUDSON RIVER COMMUNITY CREDIT UNION PAID $300,000 PREMIUM AND THE LOAN ACCRUED $21,326 IN INTEREST. SUSAN COMMANDA CEO SPLIT DOLLAR LIFE INSURANCE X 2100000 2132747 0 1 1 2132747 FORM 990, PART VI, SECTION A, LINE 6 MEMBERS ARE THOSE WHO USE THE SERVICES OF THE CREDIT UNION. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS ELECT THE BOARD OF DIRECTORS AT THE ANNUAL MEETING WHEN VACANCIES OCCUR. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS ELECT THE BOARD OF DIRECTORS AT THE ANNUAL MEETING WHEN VACANCIES OCCUR AND MAY APPROVE OTHER BUSINESS AS THE BOARD OF DIRECTORS DEEMS APPROPRIATE. PROXY VOTES ARE PROHIBITED AND ALL PRESENT MEMBERS HAVE ONE VOTE. MEMBERS MAY CALL A SPECIAL MEETING WITH WRITTEN REQUEST OF 10% OF THE MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO FILING, THE 990 IS REVIEWED BY THE CONTROLLER AND EXECUTIVE VICE PRESIDENT (EVP). FORM 990, PART VI, SECTION B, LINE 12C THE OFFICERS, DIRECTORS AND KEY EMPLOYEES REVIEW THE CONFLICT OF INTEREST POLICY AT LEAST ANNUALLY AND WILL BRING ITEMS TO THE BOARD IF CIRCUMSTANCES WARRANT IT. RMS AND HRCCU INSURANCE AGENCY HAVE SIMILAR POLICIES. FORM 990, PART VI, SECTION B, LINE 15 HRN MANAGEMENT SALARY RANGES ARE USED WHICH ARE BASED ON A VARIETY OF SURVEY DATA AND ARE UPDATED ANNUALLY. THE BOARD REVIEWS SALARY DATA ANNUALLY AS PART OF THE BUDGET PROCESS. THE BOARD SETS THE CEO'S SALARY AS A SEPARATE ITEM OUTSIDE OF THE SOFTWARE. THEY ALSO SET THE SALARY MATRIX USED IN THE ANNUAL INCREMENT FOR ALL STAFF IN THE BUDGET PROCESS AS WELL. THE SALARY POLICY DICTATES THE SOFTWARE COMPEASE AND SALARY REVIEW IS PERFORMED ANNUALLY ON ALL STAFF POSITIONS. FORM 990, PART VI, SECTION C, LINE 18 HRCCU WILL MAKE ITS 990 AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 HRCCU WILL MAKE THESE DOCUMENTS AVAILABLE UPON REQUEST. FORM 990, PART X: EFFECTIVE AUGUST 1, 2021, NORTON-TROY EMPLOYEES FEDERAL CREDIT UNION, WITH TOTAL ASSETS OF APPROXIMATELY $5,113,000, TOTAL LIABILITIES OF APPROXIMATELY $4,334,000 AND TOTAL MEMBERS' EQUITY OF APPROXIMATELY $779,000, WAS MERGED INTO THE CREDIT UNION. FORM 990, PART XI, LINE 9: ACCUMULATED UNREALIZED GAIN/(LOSS) ON AVAILABLE FOR SALE SECURITIES -30,706. EQUITY ACQUIRED IN MERGER 779,053. FORM 990, PART XII, LINE 2C: NO CHANGES TO PROCESS RIVERSIDE MANAGED SERVICES LLC ONE THIRD STREET CORINTH NY 12822 831958517 CUSO NY 8771 67853 HUDSON RIVER COMMUNITY CREDIT UNION HRCCU INSURANCE AGENCY LLC ONE THIRD STREET CORINTH NY 12822 862305730 CUSO NY -19389 232338 HUDSON RIVER COMMUNITY CREDIT UNION