2021-11-12T08:07:57-06:00 2020-12-31 042513210 GERALD T REILLY & COMPANY 424 ADAMS STREET MILTON MA 02186 990 2020-01-01 042206928 MERRIMACK VALLEY CREDIT UNION MERR 5082792400 500 MERRIMACK STREET LAWRENCE MA 01843 MICHAEL E VALLEY EVP/CFO & COO 5082792400 2021-11-10 1 MICHAEL VALLEY 999009999 STEPHEN A ROLLINS CPA P01438963 6176968900 2021-11-09 0 AAL1 IAL1 2020 2022-09-23 18:48:47Z JOHN J HOWARD 500 MERRIMACK STREET LAWRENCE MA 01843 93980993 0 X WWW.MVCU.COM X 1955 MA MEMBER OWNED FINANCIAL INSTITUTION OFFERING A VARIETY OF SAVINGS AND LOAN PRODUCTS. 14 9 225 15 188636 67022 0 0 34959824 38908034 7207010 6257075 0 0 42166834 45165109 125433 152586 7522050 7461214 14178217 16664757 0 0 0 16473254 19861294 38298954 44139851 3867880 1025258 1074575376 1248774526 970250139 1137594965 104325237 111179561 TO SERVE OUR COMMUNITY AND PARTNER WITH OUR MEMBERS TO OFFER VALUE ADDED FINANCIAL PRODUCTS, SERVICES, SOLUTIONS AND EXCELLENT MEMBER SERVICE. 0 0 SERVE APPROXIMATELY 84,000 MEMBERS OFFERING A WIDE VARIETY OF LOAN AND DEPOSIT PRODUCTS. 0 0 0 0 0 0 0 1 0 1 1 0 0 1 0 0 1 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 16426 0 1 225 1 1 1 0 0 0 0 0 0 0 0 0 X 14 9 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 MA X MICHAEL VALLEY 5082792412 500 MERRIMACK STREET LAWRENCE MA 01843 DOMENIC MAZZOCOO CHAIRMAN 3.00 X X 0 0 0 ARTHUR O'DEA 2ND VICE CHAIR 3.00 X X 0 0 0 MAUREEN RONAYNE SECRETARY 3.00 X X 0 0 0 MUKESH DAVE TREASURER 3.00 X X 0 0 0 CATHERINE DEBURRO DIRECTOR 3.00 X 0 0 0 RONALD GUILMETTE DIRECTOR 3.00 X 0 0 0 AUGUSTINE LONGO JR DIRECTOR 3.00 X 0 0 0 PETER A MILLS DIRECTOR 3.00 X 0 0 0 ALEXANDER OSKI DIRECTOR 3.00 X 0 0 0 LEON PRATT JR DIRECTOR 3.00 X 0 0 0 MICHAEL M SAYLER DIRECTOR 3.00 X 0 0 0 DAVID LONDON ASSISTANT TREASURER 3.00 X X 0 0 22809 STEPHANIE SOUSA DIRECTOR 3.00 X 0 0 9795 MARY K BRIAND DIRECTOR 3.00 X 0 0 26 BERNARD MULHOLLAND 1ST VICE CHAIR 3.00 X X 0 0 6108 DAVID THOMAS DIRECTOR 3.00 X 0 0 910 JOHN HOWARD PRESIDENT/CEO 37.50 X 530074 0 56035 MICHAEL VALLEY EVP/CFO & COO 37.50 X 239520 0 25310 LAURA WANTE SVP HUMAN RESCOURCES 37.50 X 203315 0 7746 BRAD EGAN EVP/CHIEF LENDING OFFICER 37.50 X 220408 0 31188 DANTE DIMASSA VP RESIDENTAL LENDING 37.50 X 176808 0 27432 JAN WHITE VP CONTROLLER 37.50 X 36726 0 8299 YEAN-AI LONG SVP MARKETING 37.50 X 182492 0 34640 MICHAEL PLISKANER SVP / IT 37.50 X 183573 0 15755 ANTHONY MARINO SVP / ORGANIZATION DEVELOPMENT 37.50 X 178234 0 15376 JOHN MACKENZIE VP FINANCE 37.50 X 149855 0 24694 ROBERT CABRAL VP CONSUMER LENDING MANAGER 37.50 X 142319 0 10341 CHRISTINE RONCA VP RETAIL OPERATIONS 37.50 X 153963 0 13018 TRACY MERMET VP HUMAN RESOURCES 37.50 X 136901 0 31411 JOHN HIMMEL VP COLLECTIONS 37.50 X 129170 0 29820 BRUCE NEWTON VP CALL CENTER MANAGER 37.50 X 53321 0 2511 LOUIS SERIO VP IT 37.50 X 136746 0 11670 CHERIE LISEE VP RISK MANAGEMENT 37.50 X 122712 0 8510 THERESA HAYES VP ONLINE & DIGITAL CHANNELS 37.50 X 117483 0 22998 ROBERT PIEPENBURG VP COMMERCIAL LENDING 37.50 X 111155 0 5860 3204775 0 422262 17 0 1 0 THE APPRAISAL HUB LLC 900 WASHINGTON ST NORWOOD MA 02062 APPRAISAL SERVICES 330760 AGS SUBURBAN LLC PO BOX 412861 BOSTON MA 02241 CLEANING SERVICES 206240 NUTTER MCCLENNEN & FISH LLP 155 SEAPORT BLVD BOSTON MA 02210 LEGAL SERVICES 191384 PARTNERS IN LEADERSHIP LLC 27555 YNEZ ROAD SUITE 300 TEMECULA CA 92591 CONSULTING 152076 CLIFTON LARSON ALLEN LLP TWO INTERNATIONAL PLACE BOSTON MA 02110 AUDIT & TAX SERVICES 124547 9 LOAN INTEREST FEE 522100 29737728 29737728 FEE INCOME 522100 8647486 8458850 188636 OTHER OPERATING INCOME 522100 522820 522820 38908034 5452022 5452022 49620937 48815884 805053 805053 805053 45165109 44171420 188636 805053 152586 7461214 3627037 9704307 783760 1626826 922827 929421 295187 411629 238741 1188530 1390632 2376536 2116172 35364 888559 1289491 422152 PROVISION FOR LOAN LOSS 2548688 ATM EXPENSE 1545711 LOAN SERVICING EXPENSE 1536350 INTANGIBLE AMORTIZATION 1465169 1182962 44139851 4742877 7696909 47177945 119812508 18216451 18333608 701824596 726485713 442186 726614 31807970 16727053 15843491 15080917 266943029 321665442 1071782 4698150 4401664 2936495 13911355 31338170 1074575376 1248774526 1960392 3177744 2928343 3394964 41206998 46559846 924154406 1084462411 970250139 1137594965 X 0 0 0 0 104325237 111179561 104325237 111179561 1074575376 1248774526 X 1025258 4429885 1399181 X X 0 1 X 1 0 0 1 X 3341270 3341270 14128059 4903859 9224200 6204915 5071216 1133699 8103866 6747499 1356367 29860 4479 25381 15080917 SECURITIES - AVAILABLE FOR SALE 321665442 F 321665442 MEMBER SHARE AND DEPOSIT ACCOUNTS 1084462411 1084462411 PART IV, LINE 2B: ESCROW PAYABLE IS FOR REAL ESTATE TAXES ON FICS LOANS. 1 LAWRENCE PARTNERSHIPS 420 COMMON ST LAWRENCE MA 01841 043479606 10000 GENERAL SUPPORT CITY OF LAWRENCE - LAWRENCE PUBLIC LIBRARY PARTNERSHIP 200 COMMON ST LAWRENCE MA 01840 17000 GENERAL SUPPORT EMMAUS INC 127 HOW STREET HAVERHILL MA 01830 222702774 501(C)(3) 23350 ANNUAL SPONSORSHIP AND GENERAL SUPPORT CU KIDS AT HEART 35 CORPORATE DRIVE SUITE 300 BURLINGTON MA 01803 814905853 501(C)(3) 13776 GENERAL SUPPORT PART I, LINE 2: CREDIT UNION PROVIDES GRANTS TO HELP IMPROVE COMMUNITY. X X X X 1 0 0 JOHN HOWARD PRESIDENT/CEO 530074 0 0 0 0 0 33303 0 22732 0 586109 0 0 0 MICHAEL VALLEY EVP/CFO & COO 239520 0 0 0 0 0 16766 0 8544 0 264830 0 0 0 BRAD EGAN EVP/CHIEF LENDING OFFICER 220408 0 0 0 0 0 15429 0 15759 0 251596 0 0 0 YEAN-AI LONG SVP MARKETING 182492 0 0 0 0 0 12054 0 22586 0 217132 0 0 0 LAURA WANTE SVP HUMAN RESCOURCES 203315 0 0 0 0 0 5292 0 2454 0 211061 0 0 0 DANTE DIMASSA VP RESIDENTAL LENDING 176808 0 0 0 0 0 12377 0 15055 0 204240 0 0 0 MICHAEL PLISKANER SVP / IT 183573 0 0 0 0 0 12850 0 2905 0 199328 0 0 0 ANTHONY MARINO SVP / ORGANIZATION DEVELOPMENT 178234 0 0 0 0 0 12477 0 2899 0 193610 0 0 0 JOHN MACKENZIE VP FINANCE 149855 0 0 0 0 0 10490 0 14204 0 174549 0 0 0 TRACY MERMET VP HUMAN RESOURCES 136901 0 0 0 0 0 9583 0 21828 0 168312 0 0 0 CHRISTINE RONCA VP RETAIL OPERATIONS 153963 0 0 0 0 0 10777 0 2241 0 166981 0 0 0 JOHN HIMMEL VP COLLECTIONS 129170 0 0 0 0 0 9042 0 20778 0 158990 0 0 0 ROBERT CABRAL VP CONSUMER LENDING MANAGER 142319 0 0 0 0 0 8868 0 1473 0 152660 0 0 0 PETER MATTHEWS FORMER CEO/PRESIDENT SPLIT DOLLAR LOAN X 1553869 850000 0 1 1 JOHN J HOWARD CEO/PRESIDENT SPLIT DOLLAR LOAN X 8135738 17483608 0 1 1 18333608 FORM 990, PART VI, SECTION A, LINE 6 DEPOSITORS WITH A MINIMUM BALANCE OF $5 IN THEIR SAVINGS ACCOUNT ARE MEMBERS AND EACH MEMBER HAS EQUAL VOTING RIGHTS. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS ARE VOTED BY THE MEMBERS AT THE ANNUAL MEETING FORM 990, PART VI, SECTION A, LINE 7B ELECTION OF DIRECTORS, CHARTER CHANGES, AND MERGERS REQUIRE A VOTE BY THE MEMBERS FORM 990, PART VI, SECTION B, LINE 11B THE CONTROLLER AND/OR CFO WILL PRESENT THE 990 TO THE CEO AND AUDIT COMMITTEE FOR FINAL REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST MUST BE DISCLOSED PURSUANT TO THE POLICY. SUCH DISCLOSURES MUST BE MADE IN WRITING TO THE COMPLIANCE OFFICER. THE COMPLIANCE OFFICER MUST RETAIN THOSE DISCLOSURES. THE CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS DETERMINES THE CEO'S SALARY STRUCTURE BASED UPON MARKET DATA SUBSCRIBED BY THE SVP OF HR. THE CU USES COMPENSATION SURVEYS FOR GENERAL PAY SCALES AND TOM WARREN AND ASSOCIATES TO COMPLETE A SALARY STRUCTURE REALIGNMENT. THIS PROCESS WAS MOST RECENTLY COMPLETED IN [2019]. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S FINANCIAL STATEMENTS ARE AVAILABLE IN THE LOBBY OF EACH BRANCH. THE CREDIT UNION'S CALL REPORT INFORMATION IS AVAILABLE ON THE NCUA WEBSITE. FORM 990, PART XI, LINE 9: EQUITY ACQUIRED IN MERGER 1,399,181. FORM 990, PART XII, LINE 2C THE PROCESS HAS NOT CHANGED.