2022-11-14T09:36:17-06:00 2021-12-31 390758449 WIPFLI LLP 30 LONG CREEK DRIVE SOUTH PORTLAND ME 041062437 990 2021-01-01 042391206 SHARON & CRESCENT UNITED CREDIT UNION SHAR 7817847725 30 POND ST SHARON MA 02067 GLENN PARSONS PRESIDENT 7817847725 2022-11-07 1 GLENN PARSONS 999009999 JULIA HOWLAND CPA P01711658 2077745701 2022-11-07 0 AAL1 IAL1 2021 2022-09-23 18:48:47Z GLENN PARSONS 30 POND ST SHARON MA 02067 41127126 0 X WWW.SCUCU.COM X 1956 MA TO PROVIDE A FULL RANGE OF FINANCIAL SERVICES TO OUR MEMBERS. 17 0 207 16 163178 0 0 0 40992300 38784603 2690624 2101908 0 0 43682924 40886511 0 117108 0 3060767 17581578 14896723 0 0 0 24658224 14668492 42239802 32743090 1443122 8143421 1157249699 1214608643 1016177939 1068791593 141071760 145817050 X OUR MISSION IS TO PROVIDE A FULL RANGE OF FINANCIAL SERVICES TO THE MEMBERS IN OUR COMMUNITY AT COMPETITIVE RATES WHILE EMPHASIZING FINANCIAL SOUNDNESS, CONVENIENCE AND EFFICIENT-FRIENDLY SERVICE, WHILE MAINTAINING A CHALLENGING, REWARDING AND ENRICHING ENVIRONMENT FOR ALL EMPLOYEES. 0 0 SHARON CREDIT UNION IS A MEMBER-OWNED ORGANIZATION COMMITTED TO PROVIDING SUPERIOR FINANCIAL SERVICES TO ITS MEMBERS AND THE COMMUNITY. AT 12/31/2021, THE CREDIT UNION HAD 26,041 LOANS OUTSTANDING TOTALING $779,375,808. ALSO MEMBERS HAD 138,248 DEPOSITS ACCOUNTS TOTALING $1,043,434,519. ADDITIONALLY MEMBERS HAD 1,475 SAFE DEPOSIT BOXES. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 7838 0 1 207 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 17 0 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X JEREMY PARKER 7817932804 30 POND STREET SHARON MA 02067 GLENN PARSONS CHAIRMAN 2.00 X X 8128 0 0 HOWARD SPILLER VICE CHAIRMAN 2.00 X X 7708 0 0 CARL HUERTH DIRECTOR 2.00 X 5024 0 0 ANNE CARNEY SECRETARY 2.00 X X 3642 0 0 RON BETCHEL DIRECTOR 2.00 X 7294 0 0 DAVID DOUCETTE DIRECTOR 2.00 X 5542 0 0 DAVID GOODMAN DIRECTOR 2.00 X 7035 0 0 LAWRENCE GREEN DIRECTOR 2.00 X 6718 0 0 WILLIAM KEATING DIRECTOR 2.00 X 876 0 0 JOHN KOLENTSAS DIRECTOR 2.00 X 4349 0 0 ANDREW MCCORMACK DIRECTOR 2.00 X 7708 0 0 JAMES MIHOS DIRECTOR 2.00 X 8019 0 0 ALFRED NICCOLI DIRECTOR 2.00 X 6779 0 0 WILLIAM ROSA DIRECTOR 2.00 X 705 0 0 ARTHUR SULLIVAN DIRECTOR 2.00 X 7066 0 0 WILLIAM MCINTOSH DIRECTOR 2.00 X 5281 0 0 JAMES L CARLSON PRESIDENT/CFO 40.00 X X 600758 0 54155 ROBERT W GUSTAFSON EXECUTIVE VP 40.00 X 419942 0 41465 LINDA FOUNTAIN CHIEF LENDING OFFICER 40.00 X 227884 0 37538 MAUREEN GREGORY CHIEF RETAIL OFFICER 40.00 X 179583 0 31214 PAUL PIJANOWSKI SVP INFORMATION TECHNOLOGY 40.00 X 168007 0 47666 CHERYL MCCORMICK SVP COMMERCIAL LENDING 40.00 X 144234 0 32751 MARK HENNESSY SVP CONSUMER LENDING 40.00 X 160341 0 47104 DAVID COX FORMER CFO/TREASURER 40.00 X 231058 0 55236 2223681 0 347129 15 0 1 0 JACK HENRY & ASSOC PO BOX 609 MONET MO 65708 CORE SYSTEM PROVIDER 984115 ALKAMI TECHNOLOGY PO BOX 122223 DALLAS TX 75312 ONLINE BANKING PROVIDER 790159 NATIONAL CREDIT UNION ADMIN PO BOX 979069 ST LOUIS MO 63197 REGULATOR 486411 FISERV PO BOX 934057 ATLANTA GA 31193 SOFTWARE PROVIDER 231330 ACCOUNTEMPS 12400 COLLECTIONS CENTER DRIVE CHICAGO IL 60693 TEMP EMPLOYEES 221902 12 INTEREST ON LOANS 522100 32733178 32733178 FEE INCOME 524298 6051425 5888247 163178 38784603 2076724 2076724 265799 240615 25184 25184 25184 40886511 38646609 163178 2076724 117108 3060767 1473614 9366959 911138 2341075 803937 34036 158566 578615 651379 3321607 3032495 60449 413436 2523187 PROVISION FOR LOAN LOSS 2630311 LOAN SERVICING EXPENSE 843662 OTHER OPERATING EXPENSE 420749 32743090 90521957 86067577 1410000 812801794 774088219 473388 28822677 14684878 15186434 14137799 226246468 330117723 3665878 2509674 8827168 5804263 1157249699 1214608643 12619803 12007283 2666882 2705610 1000891254 1054078700 1016177939 1068791593 X 0 0 0 0 141071760 145817050 141071760 145817050 1157249699 1214608643 8143421 -3398131 0 X X 0 0 0 3736146 3736146 16389186 7687774 8701412 811851 512824 299027 7843899 6484280 1359619 41595 41595 14137799 FEDERAL AGENCIES 276502349 C OTHER INVESTMENTS 53615374 C 330117723 DEPOSITS 1040488273 FHLB BORROWINGS 13590427 1054078700 1 BOYS & GIRLS CLUBS OF AMERICA 1275 PEACHTREE STREET NE ATLANTA GA 303093506 135562976 501(C)3 50000 0 CASH TO CONTINUE PROGRAMS AND SERVICES. RODMAN FOR KIDS INC 10 LINCOLN RD FOXBOROUGH MA 02035 043329283 501(C)3 6000 0 CASH TO CONTINUE PROGRAMS AND SERVICES. SHARON HIGH BOOSTERS INC PO BOX 77 SHARON MA 02067 825308049 501(C)3 5093 0 CASH TO CONTINUE PROGRAMS AND SERVICES. 3 0 X 1 1 X X X 0 0 0 JAMES L CARLSON PRESIDENT/CFO 590190 0 0 0 10568 0 34800 0 19355 0 654913 0 0 0 ROBERT W GUSTAFSON EXECUTIVE VP 419942 0 0 0 0 0 31221 0 10244 0 461407 0 0 0 DAVID COX FORMER CFO/TREASURER 231058 0 0 0 0 0 27625 0 27611 0 286294 0 0 0 LINDA FOUNTAIN CHIEF LENDING OFFICER 227186 0 0 0 698 0 26771 0 10767 0 265422 0 0 0 PAUL PIJANOWSKI SVP INFORMATION TECHNOLOGY 165028 0 2979 0 0 0 20099 0 27567 0 215673 0 0 0 MAUREEN GREGORY CHIEF RETAIL OFFICER 179583 0 0 0 0 0 21448 0 9766 0 210797 0 0 0 MARK HENNESSY SVP CONSUMER LENDING 157306 0 3035 0 0 0 19534 0 27570 0 207445 0 0 0 CHERYL MCCORMICK SVP COMMERCIAL LENDING 141536 0 2698 0 0 0 11495 0 21256 0 176985 0 0 0 SEE PART V X 0 1 1 LINDA FOUNTAIN CHIEF LENDING OFFICER SPLIT DOLLAR INSURANCE AGREEMENT LOAN X 210000 210000 0 1 1 JAMES CARLSON PRESIDENT/CEO SPLIT DOLLAR INSURANCE AGREEMENT LOAN X 1200000 1200000 0 1 1 1410000 SCHEDULE L PART II, TRANSACTIONS WITH INTERESTED PERSONS SOME OF THE OFFICERS AND DIRECTORS HAVE LOANS OUTSTANDING WITH THE CREDIT UNION. THESE LOANS WERE OBTAINED IN THE NORMAL COURSE OF BUSINESS OF THE CREDIT UNION WITH TERMS THE SAME AS AVAILABLE TO ALL MEMBERS. THESE LOANS ARE NOT REQUIRED TO BE REPORTED ON SCHEDULE L PART II. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS A MEMBERS ONLY FINANCIAL INSTITUTION. ITS MEMBERS MEET ANNUALLY AND VOTE FOR A BOARD OF DIRECTORS AND ALL BUSINESS BROUGHT BEFORE THE MEMBERSHIP MUST BE APPROVED. FORM 990, PART VI, SECTION A, LINE 7A SEE ANSWER TO LINE 6. FORM 990, PART VI, SECTION A, LINE 7B SEE ANSWER TO LINE 6. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF DIRECTORS HAS DELEGATED AUTHORITY FOR THE REVIEW OF THE FORM 990 TO THE CHIEF FINANCIAL OFFICER (CFO). THE CFO ENGAGES THE SERVICES OF AN INDEPENDENT ACCOUNTING FORM FOR THE PREPARATION OF THE FORM 990. UPON COMPLETION, THE FORM 990, IS REVIEWED BY THE CFO, SIGNED BY THE CFO, AND FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR THE CODE OF ETHICS, WHICH INCORPORATES A CONFLICT OF INTEREST POLICY, IS UPDATED AND RATIFIED BY THE BOARD OF DIRECTORS. THE CODE OF ETHICS PERTAINS TO EMPLOYEES AS WELL AS THE BOARD OF DIRECTORS. ANNUALLY, ALL EMPLOYEES AND BOARD OF MEMBERS SIGN AN ACKNOWLEDGEMENT THAT THEY HAVE RECEIVED AND READ THE CODE OF ETHICS. FURTHER, ALL EMPLOYEES AND BOARD MEMBERS MUST IDENTIFY, IN WRITING, ALL DEPOSIT AND LOAN ACCOUNTS IN WHICH THEY HAVE A RELATED INTEREST. LOANS GRANTED TO SENIOR MANAGEMENT, DIRECTORS, OR THEIR RELATED PARTIES MUST BE APPROVED BY THE BOARD. IF THE LOAN IS FOR A BOARD MEMBER OR HIS/HER RELATED INTEREST, THE BOARD MEMBER MUST LEAVE THE BOARDROOM DURING DISCUSSION AND VOTE. THE BOARD MEMBER IS RECUSED FROM THE VOTE. FORM 990, PART VI, SECTION B, LINE 15 THE CREDIT UNION'S BOARD OF DIRECTORS ASSIGNS RESPONSIBILITY TO THE BOARD'S PERSONNEL COMMITTEE FOR INPUT IN THE PREPARATION OF A PERFORMANCE EVALUATION OF THE CREDIT UNION'S PRESIDENT. THE PERSONNEL COMMITTEE IS COMPRISED OF INDEPENDENT DIRECTORS. THE PERSONNEL COMMITTEE WILL THEN PRESENT THE EVALUATION TO THE FULL BOARD, ALONG WITH A RECOMMENDATION FOR COMPENSATION. THE COMPENSATION LEVEL IS BASED ON A COMBINATION OF THE PRESIDENT'S PERCEIVED VALUE TO THE CREDIT UNION; JOB PERFORMANCE; AND A COMPARISON TO A PEER GROUP SALARY SURVEY CONDUCTED BY PEARL MEYER & PARTNERS. BASED ON THE PERSONNEL COMMITTEE'S RECOMMENDATION, THE FULL BOARD APPROVES THE PRESIDENT'S COMPENSATION. FOR MEMBERS OF SENIOR MANAGEMENT (I.E. COO, SENIOR LENDING OFFICER, SENIOR BRANCH ADMINISTRATOR, CFO, SENIOR MARKETING OFFICER AND SENIOR INFORMATION OFFICER), WRITTEN PERFORMANCE EVALUATIONS ARE PREPARED BY THE IMMEDIATE SUPERVISOR AND REVIEWED BY THE BOARD'S PERSONNEL COMMITTEE. COMPENSATION IS BASED ON VALUE TO THE CREDIT UNION, JOB PERFORMANCE AND COMPARISON TO SALARY RANGES IN THE PEARL MEYER & PARTNERS SALARY SURVEY. THE PERSONNEL COMMITTEE THEN MAKES A RECOMMENDATION TO THE FULL BOARD FOR ITS APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S BY-LAWS, CODE OF ETHICS, CONFLICT OF INTEREST POLICY, ETC. ARE AVAILABLE FOR INSPECTION AT THE CREDIT UNION'S ANNUAL MEETING OR AVAILABLE AT ANYTIME UPON A MEMBER'S REQUEST. THE CREDIT UNION'S PRIVACY POLICY IS MAILED TO EACH MEMBER, ANNUALLY. A STATEMENT OF CONDITION IS POSTED IN EACH BRANCH EVERY MONTH. THE CREDIT UNION'S CALL REPORT DATA IS AVAILABLE TO THE GENERAL PUBLIC VIA THE NCUA'S WEBSITE.