2022-11-03T14:02:51-05:00 2021-12-31 042689883 WOLF & COMPANY PC 255 STATE STREET BOSTON MA 02109 990 2021-01-01 020222930 NORTHEAST CREDIT UNION NORT 6034361847 PO BOX 1240 PORTSMOUTH NH 038021240 CHRISTOPHER G PARKER PRESIDENT & CEO 6034361847 2022-11-02 1 CHRISTOPHER PARKER 000005544 HARRY A KALAJIAN JR CPA P00464296 6174399700 2022-11-03 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z CHRISTOPHER G PARKER PO BOX 1240 PORTSMOUTH NH 038021240 75226233 0 X WWW.NECU.ORG X 1936 NH PROVIDE CREDIT UNION SERVICES TO ITS MEMBERS. 7 7 489 12 234333 0 0 0 74342684 74101704 1439710 1092821 7035 -15328 75789429 75179197 40000 160000 0 0 27928216 28632303 0 0 0 42752324 36440610 70720540 65232913 5068889 9946284 1818813530 1982489459 1658374340 1813731171 160439190 168758288 PROVIDE CREDIT UNION SERVICES TO ITS MEMBERS 0 0 CONSISTENT WITH THE PRINCIPLES, PHILOSOPHY AND VALUES OF THE CREDIT UNION AND VALUES OF THE CREDIT UNION MOVEMENTS, NORTHEAST CREDIT UNION PROVIDES SAFE, HIGH QUALITY FINANCIAL SERVICES TO MEET THE NEEDS OF OUR MEMBERS OWNERS, ENHANCING THEIR FINANCIALS WELL BEING WHILE MAINTAINING THE STRENGTH OF THE CREDIT UNION. 0 0 0 0 0 0 0 1 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 18685 2 1 489 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 0 NH X NEIL GORDON 6035991707 PO BOSTON 1240 PORTSMOUTH NH 038021240 VICTOR M COLLININO TREASURER 2.00 X X 0 0 0 THERESA P PALUMBO SECRETARY 2.00 X X 0 0 0 JUSTIN GAMESTER DIRECTOR 1.00 X 0 0 0 REGIS SAUCIER DIRECTOR 1.00 X 0 0 0 RAYMOND BALD CHAIRMAN 2.00 X X 0 0 0 TERRANCE BEERS VICE CHAIRMAN 2.00 X X 0 0 0 DAVID PACIENCIA DIRECTOR 2.00 X 0 0 0 TIMOTHY J COLLIA PRESIDENT/CEO (UNTIL 07/2021) 40.00 X 423258 0 54297 MICHAEL H GAGNON SVP CHIEF TECHNOLOGY OFFIC 40.00 X 284904 0 32669 ANDREA PRUNA SVP CHIEF MARKETING & RETA 40.00 X 269643 0 59944 KELLY MCGRATH SVP CHIEF LENDING OFFICER 40.00 X 264252 0 35838 ANA MICHELE FORET SVP CHIEF RISK OFFICER 40.00 X 223571 0 19636 CHRISTOPHER G PARKER PRESIDENT/CEO (AS OF 07/2021) 40.00 X 420333 0 15195 SUSAN HANNIGAN SVP CHIEF FINANCIAL OFFICER 40.00 X 242820 0 19019 LEE P SCHAFER SVP CHIEF HUMAN RESOURCES OFFICER 40.00 X 231166 0 16823 CHRISTINA J ZAUDKE VP BRANCH STRATEGY AND INNOVATION 40.00 X 177736 0 42348 TRACI J TENGGREN VP HUMAN RESOURCES 40.00 X 200563 0 55295 SUZANNE R LADD VP CONSUMER DIRECT LENDING 40.00 X 176986 0 30560 ARTHUR WILLIAM MACGREGOR SALES REP 40.00 X 185380 0 46194 RICHARD LIPARI VP OPERATIONS 40.00 X 171516 0 40159 3272128 0 467977 31 0 1 0 JACK HENRY & ASSOCIATES INC 663 W HWY 60 MONETT MO 65708 INFORMATION TECHNOLOGY 1557072 FISERV - GA 2900 WESTSIDE PKWY ALPHARETTA GA 30004 INFORMATION TECHNOLOGY 1048121 CFGI HOLDINGS LLC 1 LINCOLN STREET SUITE 1301 BOSTON MA 02111 ACCOUNTING ADVISORY 975208 ADVERTISING WORKS INC 847 CHESTNUT STREET MANCHESTER NH 03104 ADVERTISING 703839 ALLIED SOLUTIONS 350 VETERANS WY CARMEL IN 46032 FINANCIAL SOLUTIONS 697718 44 LOAN INCOME 522100 53101736 53101736 OTHER INCOME 522100 15262089 15027756 234333 TOTAL FEES INCOME 522100 5737879 5737879 74101704 1139857 1139857 47036 -47036 -47036 -47036 NON-OPERATING OREO CARRYING COST 900099 3550 3550 OTHER NON-OPERATING INCOME 900099 3060 3060 OCTANT 900099 -21938 -21938 -15328 75179197 73852043 234333 1092821 120000 40000 2359948 19873018 1918077 2836956 1644304 49050 217819 30825 2116688 1302572 4486267 2526287 2313069 46607 173329 11050713 2889752 270439 PROCESSING FEES 3702504 LOAN SERVICING EXPENSES 2896393 PROVISIONS FOR LOSS 875250 MISC OPERATING EXPENSE 673991 819055 65232913 160865156 250982503 26049701 25046443 1383979564 1344891983 2343472 3510726 56377864 20801063 36640139 35576801 203806327 316296382 5129171 6184621 1818813530 1982489459 12416218 13853290 3432920 3590436 80262320 67874041 1562262882 1728413404 1658374340 1813731171 X 0 0 0 0 160439190 168758288 160439190 168758288 1818813530 1982489459 9946284 -1627186 0 X X 0 1 X 1 0 0 1 X 15420329 15420329 23152774 8184232 14968542 1323063 978859 344204 16481698 11637972 4843726 35576801 INVESTMENT IN CO-OP OCEAN 20000 C CUSO CUDL 800000 C CUSO MORTGAGE 1221079 C FEDERAL HOME LOAN BANK STOCK 3696500 C LPL FINANCIAL STOCK 20610 C OCTANT BUSINESS SERVICES 149284 C CERTIFICATES OF DEPOSIT 16042000 C OTHER - SHARES AND DEPOSITS AT CU CORP 276831788 C MEMBER SHARES IN LEAGUE CENTRAL 1174088 C NCUSIF DEPOSIT 16341033 C 316296382 MEMBER SHARES 1727260291 OTHER LIABILITIES 1153113 1728413404 X PART IV, LINE 2B: ESCROW ACCOUNT FOR MORTGAGES. PART X, LINE 2: THE CREDIT UNION IS EXEMPT UNDER INTERNAL REVENUE CODE 501(C)(14) FROM FEDERAL AND STATE INCOME TAXES. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR THE RESULT OF OPERATIONS. THE CREDIT UNION'S 2019 THROUGH 2021 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. 1 NORTHEAST CREDIT UNION CHARITABLE FOUNDATION 100 BORTHWICK AVENUE PORTSMOUTH MA 03801 832716428 501(C)(3) 120000 0 EXEMPT PURPOSES 1 0 COLLEGE SCHOLARSHIP 24 40000 FORM 990, SCHEDULE I, PART III (B) THE ORGANIZATION PROVIDED SCHOLARSHIP ASSISTANCE TO 24 INDIVIDUAL STUDENTS IN 2021. X 1 1 X X 0 0 0 TIMOTHY J COLLIA PRESIDENT/CEO (UNTIL 07/2021) 350162 0 66000 0 7096 0 29837 0 24460 0 477555 0 0 0 CHRISTOPHER G PARKER PRESIDENT/CEO (AS OF 07/2021) 248833 0 168500 0 3000 0 1740 0 13455 0 435528 0 0 0 ANDREA PRUNA SVP CHIEF MARKETING & RETA 240740 0 28903 0 0 0 22578 0 37366 0 329587 0 0 0 MICHAEL H GAGNON SVP CHIEF TECHNOLOGY OFFIC 255064 0 29840 0 0 0 22883 0 9786 0 317573 0 0 0 KELLY MCGRATH SVP CHIEF LENDING OFFICER 237149 0 27103 0 0 0 21481 0 14357 0 300090 0 0 0 SUSAN HANNIGAN SVP CHIEF FINANCIAL OFFICER 242713 0 107 0 0 0 13881 0 5138 0 261839 0 0 0 TRACI J TENGGREN VP HUMAN RESOURCES 171744 0 28819 0 0 0 17022 0 38273 0 255858 0 0 0 LEE P SCHAFER SVP CHIEF HUMAN RESOURCES OFFICER 221065 0 10101 0 0 0 12686 0 4137 0 247989 0 0 0 ANA MICHELE FORET SVP CHIEF RISK OFFICER 201869 0 21702 0 0 0 17842 0 1794 0 243207 0 0 0 ARTHUR WILLIAM MACGREGOR SALES REP 185272 0 108 0 0 0 15641 0 30553 0 231574 0 0 0 CHRISTINA J ZAUDKE VP BRANCH STRATEGY AND INNOVATION 162176 0 15560 0 0 0 11510 0 30838 0 220084 0 0 0 RICHARD LIPARI VP OPERATIONS 161508 0 10008 0 0 0 14480 0 25679 0 211675 0 0 0 SUZANNE R LADD VP CONSUMER DIRECT LENDING 158696 0 18290 0 0 0 14454 0 16106 0 207546 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 MEMBERS FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION MEMBERS HAVE THE RIGHT TO ELECT THE MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B ANNUAL ELECTIONS OF THE BOARD DIECTORS ARE SUBJECT TO MEMBERS VOTING AT THE ANNUAL MEETING FORM 990, PART VI, SECTION B, LINE 11B VP/CONTROLLER IS RESPONSIBLE FOR THE OVERSIGHT FOR THE COMPLETION OF THE 990 WHICH IS THEN FORWARDED ONTO THE SVP/CFO AND PRESIDENT FOR REVIEW AND THEN BROUGHT TO THE BOARD FOR APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C REQUIRES ANNUAL SIGNATURES FROM THE BOARD OF DIRECTORS ON OUR CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 WE USE AN OUTSIDE FIRM TO MONITOR PAY LEVELS WITH SIMILAR JOB TITLES AT THE CREDIT UNION. THE NAME OF THE OUTSIDE COMPANY USED IS COMPEASE. FORM 990, PART VI, SECTION C, LINE 19 MONTHLY FINACIALS ARE POSTED IN ALL BRANCH LOBBIES, AN THE ANNAUL MEETING IS OPEN TO ALL MEMBERS FORM 990, PART IV, LINE 2C: THERE WAS NO CHANGE IN THE OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. NORTHEAST CREDIT UNION FOUNDATION 100 BORTHWICK AVENUE PORTSMOUTH NH 03801 832716428 GRANTMAKING FOUNDATION NH 501(C)(3) PF NORTHEAST CREDIT UNION 1 OCTANT BUSINESS SERVICES 255 GREAT ROAD PO BOX 1530 LITTLETON MA 014604530 201719458 PROVIDES BUSINESS LENDING SUPPORT MA N/A RELATED 30627 208507 0 0 0.12500 BORTHWICK ASSOCIATES PO BOX 269 PORTSMOUTH NH 03801 020385845 INSURANCE & INVESTMENTS NH NORTHEAST CREDIT UNION C 170330 154414 1.00000 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 BORTHWICK ASSOCIATES O 189991 FAIR MARKET VALUE BORTHWICK ASSOCIATES N 83396 FAIR MARKET VALUE NORTHEAST CREDIT UNION FOUNDATION B 120000 CASH