2021-09-10T10:33:11-05:00 2020-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2020-01-01 472559616 AMERICAN EAGLE FINANCIAL CREDIT UNION AMER 8008420145 333 EAST RIVER DRIVE EAST HARTFORD CT 06128 DEAN MARCHESSAULT PRESIDENT/CEO 8605695554 2021-09-09 1 DEAN MARCHESSAULT 999009999 DOUGLAS J ORTH P01076394 3052328272 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z DEAN MARCHESSAULT 333 EAST RIVER DRIVE EAST HARTFORD CT 06128 82747097 0 X WWW.AMERICANEAGLE.ORG X 1935 CT AMERICAN EAGLE FINANCIAL CREDIT UNION PROVIDES FINANCIAL SERVICES IN THE FORM OF LOANS AND DEPOSIT PRODUCTS THAT HELP ITS MEMBERSHIP ACHIEVE THEIR FINANCIAL GOALS. 11 11 395 15 84570 0 0 0 82876483 77873588 6926821 1918923 936484 2430488 90739788 82222999 16038 161674 0 0 33839886 34326912 0 0 0 46052659 46486451 79908583 80975037 10831205 1247962 2045638926 2185404432 1861221030 1995881791 184417896 189522641 X OUR MISSION IS TO ENRICH THE LIVES OF OUR MEMBERS AND COMMUNITIES TO CREATE A WORLD WHERE FINANCIAL FREEDOM IS A REALITY. OUR VALUES ARE CARING, TRUST AND DEPENDABILITY. 0 0 DURING 2020, AMERICAN EAGLE FINANCIAL CREDIT UNION (AEFCU), A STATE CHARTERED CREDIT UNION LOCATED IN THE STATE OF CONNECTICUT, PROVIDED FINANCIAL SERVICES TO MEMBERS WHO LIVE, WORK, WORSHIP, OR ATTEND SCHOOL IN THE HARTFORD, TOLLAND, NEW HAVEN, AND MIDDLESEX COUNTIES IN CT. AEFCU CONTINUED TO FULFILL ITS EXEMPT STATUS BY PROVIDING CREDIT AT FAIR AND REASONABLE RATES OF INTEREST, OFFERING COMPETITIVE SHARE DEPOSIT PRODUCTS, AND PROVIDING MEMBERS WITH THE OPPORTUNITY TO IMPROVE THEIR ECONOMIC CONDITION. IN 2020, MEMBERSHIP GREW FROM 154,334 TO 157,426 MEMBERS. THERE WERE 13,389 LOANS GRANTED TOTALING $772,313,302. DEPOSITS GREW FROM 298,277 ACCOUNTS TO 299,257 ACCOUNTS FOR A TOTAL INCREASE IN DEPOSITS OF $138,814,714. AEFCU ALSO CONDUCTED SEMINARS FOR ITS MEMBERSHIP THAT RANGED FROM FINANCIAL LITERACY TO FIRST TIME HOME BUYING. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 32563 0 1 395 1 1 1 0 0 0 0 0 0 0 X 11 11 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X LARRY MICHAUD 8605695554 333 EAST RIVER DRIVE EAST HARTFORD CT 06128 A LISA BURGARELLA DIRECTOR 2.00 X 0 0 0 KENNETH D STEVENSON DIRECTOR 2.00 X 0 0 0 RAYMOND C GANDY DIRECTOR 2.00 X 0 0 0 MICHAEL P DEPASQUALE VICE CHAIRPERSON 3.00 X 0 0 0 ALLISON W BURCH SECRETARY 2.00 X 0 0 0 CATHERINE M BRANBURY DIRECTOR 2.00 X 0 0 0 ANGELO BULL DIRECTOR 2.00 X 0 0 0 JOSEPH R CAMPOSEO DIRECTOR 2.00 X 0 0 0 MICHAEL W HAWMAN DIRECTOR 2.00 X 0 0 0 MARK P ALLEN CHAIRPERSON 4.00 X 0 0 0 GERALD BENEDETTO DIRECTOR 2.00 X 0 0 0 JOE PLOSZAY DIRECTOR 2.00 X 0 0 0 MIKE ROGERS DIRECTOR 2.00 X 0 0 0 DEAN MARCHESSAULT PRESIDENT/CEO 40.00 X 740756 0 14505 JOHN CONANT EVP/CFO/CRO 40.00 X 389399 0 24191 TERESA KNOX SVP/COO 40.00 X 428454 0 13316 JAMES EVANS SVP/CIO 40.00 X 294988 0 43863 BRIAN KENNEDY SVP/CSO 40.00 X 258089 0 24869 SUSAN BUSHNIK SVP/CTO 40.00 X 256251 0 23152 HOWARD BRADY SVP/CLO 40.00 X 303420 0 45777 2671357 0 189673 54 0 1 0 FIS PO BOX 4535 CAROL STREAM IL 60197 CARD PROCESSING 2647579 FISERV INC PO BOX 99924 GRAPEVINE TX 76099 SOFTWARE SERVICES 2457283 RED THREAD SPACES LLC PO BOX 415213 BOSTON MA 02241 OFFICE SPACE MANAGEMENT 1165582 DATA FACTS 8000 CENTERVIEW PKWY STE 400 CAORDOVA TN 38018 CREDIT APPRAISALS 1079904 DELL MARKETING PO BOX 643561 PITTSBURGH PA 15264 COMPUTER EQUIPMENT 549693 43 INCOME ON LOANS 522100 61789946 61789946 FEES/CHARGES/OTHER 522100 15999072 15999072 FINANCE & INSURANCE 520000 84570 84570 77873588 2076909 2076909 366112 524098 -157986 -157986 -157986 GAINS ON LOANS 522100 2430488 2430488 2430488 82222999 82138429 84570 0 X 161674 1168851 22461419 3592016 5489177 1615449 655075 236207 215790 660293 873194 5269752 5097497 2942119 139383 12422399 3102292 153252 PROVISION FOR LOAN LOSS 8037189 LOAN SERVICING EXPENSE 3086810 DEBIT CARD SERVICES 1549069 FRAUD LOSSES 551712 1494418 80975037 7270243 9519487 338508737 360435931 1052515 493067 20239810 24009618 1574771411 1609117993 2329104 2359687 48098506 20267723 29062662 27830783 44711376 122126182 1625500 1686800 26067568 27824884 2045638926 2185404432 11966546 7812593 1849254484 1988069198 1861221030 1995881791 X 0 0 0 0 184417896 189522641 184417896 189522641 2045638926 2185404432 X 1247962 846621 3010162 X X 0 1 X 1 0 2422544 2422544 25670978 8846417 16824561 4796452 1255596 3540856 13558321 9819910 3738411 1650211 345800 1304411 27830783 SHARE DRAFTS 415631286 SHARES 593498501 MONEY MARKET 498999535 SHARE AND IRA CERTIFICATS 479939876 1988069198 X PART X, LINE 2: INCOME TAXES THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE AND LOCAL INCOME TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE (IRC) AND STATE TAX LAWS. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME DERIVED BY STATE-CHARTERED CREDIT UNIONS. GENERALLY, THESE TAXES ARE INSIGNIFICANT TO THE CREDIT UNION. 1 LIVE NATION ENTERTAINMENT 95 SOUTH TURNPIKE ROAD WALLINGFORD CT 06492 203247759 CORPORATION 35000 MAGIC OF LIGHTS CHANNEL 3 KIDS CAMP 73 TIMES FARM ROAD ANDOVER CT 06232 060660003 501(C)(3) 10000 HOLIDAY LIGHTS FANTASIA SPIRIT OF SPRINGFIELD 1350 MAIN STREET SUITE 1004 SPRINGFIELD MA 01103 223036584 501(C)(3) 10000 BRIGHT NIGHTS UNITED WAY OF CENTRAL AND NORTHEASTERN CT 30 LAUREL STREET HARTFORD CT 06016 060646653 501(C)(3) 5253 EMPLOYEE MATCH FURRY ANIMALS BEING SAVED RESCUE PO BOX 114 TOLLAND CT 06084 841865435 501(C)(3) 6847 CASH BACK TO THE COMMUNITY EARLY CHILDHOOD COLLABORATIVE OF SOUTHINGTON PO BOX 210 SOUTHINGTON CT 06489 066036461 501(C)(3) 6847 CASH BACK TO THE COMMUNITY FRIENDS OF FEENY 15 BRAMLEY ROAD WEST HARTFORD CT 06110 834404706 501(C)(3) 6847 CASH BACK TO THE COMMUNITY SENIORS JOB BANK OF GREATER HARTFORD 50 SOUTH MAIN STREET SUITE 216 WEST HARTFORD CT 06107 364748147 501(C)(3) 6575 CASH BACK TO THE COMMUNITY LITERACY VOLUNTEERS OF GREATER HARTFORD 30 ARBOR STREET SUITE 101 SOUTH HARTFORD CT 06106 237237570 501(C)(3) 6575 CASH BACK TO THE COMMUNITY ROARING BROOK NATURE CENTER 70 GRACEY ROAD CANON CT 06019 222596568 501(C)(3) 7359 CASH BACK TO THE COMMUNITY TLC FOUNDATION DIYESO-LEWIS HOUSE PO BOX 2334 MANCHESTER CT 06082 222517421 501(C)(3) 7359 CASH BACK TO THE COMMUNITY ENFIELD COMMUNITY CAT PROJECT PO BOX 614 ENFIELD CT 06082 814261307 501(C)(3) 7359 CASH BACK TO THE COMMUNITY FARMINGTON FRIENDS OF MUSIC 10 MONTHEITH DRIVE FARMINGTON CT 06032 222659539 501(C)(3) 8026 CASH BACK TO THE COMMUNITY HEALING MEALS COMMUNITY PROJECT 158 AUER FARM ROAD BLOOMFIELD CT 06002 475464291 501(C)(3) 8026 CASH BACK TO THE COMMUNITY DOG STAR RESCUE 12 TOBEY ROAD BLOOMFIELD CT 06019 464712372 501(C)(3) 8026 CASH BACK TO THE COMMUNITY QUINNIPIAC UNIVERSITY DANCE MARATHON 275 MOUNT CARMEL AVENUE HAMDEN CT 06518 501(C)(3) 6575 CASH BACK TO THE COMMUNITY 15 1 PART I, LINE 2: THESE ARE CHARITABLE CONTRIBUTIONS, NOT GRANTS. THEREFORE, THERE IS NO SUBSEQUENT MONITORING BY THE CREDIT UNION. X X X 1 1 X X X X X 0 1 0 DEAN MARCHESSAULT PRESIDENT/CEO 539299 0 201015 0 442 0 8550 0 5955 0 755261 0 0 0 TERESA KNOX SVP/COO 291569 0 73885 0 63000 0 6277 0 7039 0 441770 0 0 0 JOHN CONANT EVP/CFO/CRO 301629 0 86770 0 1000 0 9050 0 15141 0 413590 0 0 0 HOWARD BRADY SVP/CLO 233682 0 68738 0 1000 0 27650 0 18127 0 349197 0 0 0 JAMES EVANS SVP/CIO 227210 0 66778 0 1000 0 26235 0 17628 0 338851 0 0 0 BRIAN KENNEDY SVP/CSO 198147 0 58500 0 1442 0 6883 0 17986 0 282958 0 0 0 SUSAN BUSHNIK SVP/CTO 197670 0 57581 0 1000 0 9856 0 13296 0 279403 0 0 0 PART I, LINE 4B THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS TO THE JOHN C. CONANT, DEAN MARCHESSAULT, HOWARD BRADY, JAMES EVANS, AND BRIAN KENNEDY THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." AT SPECIFIED TIMES, THE PARTICIPANTS MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE UNDERLYING LIFE INSURANCE POLICY TO SUPPLEMENT RETIREMENT INCOME. THESE DRAWS ARE TAX FREE FOR THE PARTICIPANTS. UPON THE PARTICIPANT'S DEATH THE CREDIT UNION RECOVERS ITS PREMIUMS PLUS INTEREST, PLUS KEY-PERSON INSURANCE PROCEEDS. DEAN MARCHESSAULT PRESIDENT/CEO SPLIT DOLLAR X 5133128 5585623 0 1 1 JOHN CONANT EVP/CFO SPLIT DOLLAR X 3329640 3623153 0 1 1 WILLIAM J DOKAS FORMER CEO SPLIT DOLLAR X 8400000 4150000 0 1 1 HOWARD BRADY SVP/CLO SPLIT DOLLAR X 2200000 2379117 0 1 1 JAMES EVANS SVP/CIO SPLIT DOLLAR X 2700000 2919826 0 1 1 BRIAN KENNEDY SVP/CMSO SPLIT DOLLAR X 1800000 1946551 0 1 1 DEAN MARCHESSAULT PRESIDENT/CEO SPLIT DOLLAR X 2900000 2927965 0 1 1 BRIAN KENNEDY SVP/CMSO SPLIT DOLLAR X 475000 477383 0 1 1 24009618 FORM 990, SCH L, PART II THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." ALTHOUGH THE IRS REQUIRES REPORTING IN PART II AS A LOAN TO AN INTERESTED PARTY, THIS IS NOT AN ACTUAL LOAN. THERE IS NO TRANSFER OF FUNDS TO THE PARTICIPANTS NOR AN OBLIGATION TO REPAY THE FUNDS. INSTEAD THE CREDIT UNION RECOVERS ANY OUTLAYS, PLUS INTEREST, FROM THE UNDERLYING POLICY. THAT IS, THE CREDIT UNION DEPOSITS FUNDS DIRECTLY INTO A LIFE INSURANCE POLICY TO ENSURE REPAYMENT. AT SPECIFIED TIMES, THE PARTICIPANTS MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE POLICY TO SUPPLEMENT RETIREMENT INCOME. THE BORROWINGS ARE MONITORED TO ENSURE THE POLICY WILL PAY A DEATH BENEFIT AT LEAST SUFFICIENT TO COVER THE CREDIT UNION'S OUTLAYS PLUS INTEREST. ANY REMAINING DEATH BENEFITS ARE DIVIDED BETWEEN THE CREDIT UNION AND THE PARTICIPANT'S BENEFICIARIES AS AGREED UPON. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. MEMBERSHIP VOTES AT AN ANNUAL MEETING TO SELECT 3 BOARD MEMBERS EACH YEAR. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11B THE 990 WILL BE GIVEN TO THE BOARD OF DIRECTORS AS AN AGENDA ITEM AND REVIEWED AT THE BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 12C EMPLOYEES, OFFICERS AND DIRECTORS OF THE CREDIT UNION ARE ASKED TO DISCLOSE ALL SHARE AND LOAN ACCOUNTS AT THE CREDIT UNION THAT THEY HAVE AN INTEREST IN ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15 THE CREDIT UNION UTILIZES AN OUTSIDE CONSULTANT TO PERFORM AN INDEPENDENT COMPENSATION SURVEY FOR ALL OFFICER LEVEL POSITIONS EVERY 2 YEARS. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. CONFLICT OF INTEREST POLICY IS NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC VIEWING ON WWW.NCUA.GOV VIA THE QUARTERLY 5300 FILING. FORM 990, PART IX, LINE 24E MISCELLANEOUS 442,810. OVERDRAFT LOSSES 395,253. PERSONAL PROPERTY TAX EXPENSE 220,312. DUES/SUBSCRIPTIONS 187,387. REPAIRS AND MAINTENANCE 144,690. OPERATING FEES 103,966. FORM 990, PART XI, LINE 9: NET PENSION GAINS 3,010,162. - FORM 990, PART XII, LINE 2C THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. AMERICAN EAGLE FINANCIAL SERVICES LLC 333 EAST RIVER DRIVE EAST HARTFORD CT 06108 061552551 FINANCIAL CONSULTING SERVICES CT 999 27431 AMERICAN EAGLE FINANCIAL CU AEF REALTY LLC 333 EAST RIVER DRIVE EAST HARTFORD CT 06108 371864912 PROPERTY MANAGEMENT SERVICES CT 2151997 17147047 AMERICAN EAGLE FINANCIAL CU