2025-07-29T15:49:38-05:00 2024-12-31 Wolf & Company PC 255 State Street Boston MA 02109 990 2024-01-01 041801520 St Jeans Credit Union % STEPHEN PEDRO CFO STJE 7815925420 370 Highland Avenue Salem MA 01970 C DAVID SURFACE PRESIDENT & CEO 7815925420 2025-11-17 true true Karen Ng EA P01067482 6174399700 2025-11-17 2024 2025-03-06 01:10:19Z C DAVID SURFACE 370 Highland Avenue Salem MA 01970 19423419 false X www.stjeanscu.com X 1910 MA THE MISSION OF ST. JEAN'S CREDIT UNION IS TO FULFILL THE NEEDS OF OUR DIVERSE MEMBERSHIP WITH THE UTMOST INTEGRITY AND PRIVACY. 12 11 84 12 36746 0 363621 0 13471533 15507299 2628357 2843454 1183759 1071560 17647270 19422313 127110 90268 0 0 6048911 6262001 0 0 0 9069923 11378199 15245944 17730468 2401326 1691845 367484676 378327787 337592441 347252944 29892235 31074843 X ST. JEAN'S CREDIT UNION (THE "CREDIT UNION") IS A STATE-CHARTERED CREDIT UNION. ITS PRIMARY BUSINESS IS THE ACCEPTANCE OF DEPOSITS AND THE MAKING OF LOANS TO MEMBERS WHO LIVE OR WORK IN IN THE ESSEX, MIDDLESEX, AND SUFFOLK COUNTIES OF THE COMMONWEALTH OF MASSACHUSETTS, RETIREES OF THE CITY OF REVERE & THE TOWN OF WINTHROP, MASSACHUSETTS, THE EMPLOYEES OF H.P. HOOD LLC, AND MEMBERS' IMMEDIATE FAMILY, DEFINED AS SPOUSE, SON, DAUGHTER, MOTHER, FATHER, SISTER, OR BROTHER. false false THE MAINTENANCE OF MEMBER ACCOUNTS AND PAYMENT OF DIVIDENDS THEREON. THE CREDIT UNION MAINTAINS 34,764 MEMBER ACCOUNTS AS OF THE CALENDAR YEAR-END. false false false false false false false true false true false false false true true true false false false false false false false false false false true false true false false false false false false false false false false false false true true false true 6300 0 true 84 true true true false false false false false false false X 12 11 false false false false true true true true true false true true true true true true true true true true false X X STEPHEN PEDRO CFO 9782191027 370 HIGHLAND AVENUE SALEM MA 01970 C David Surface President/CEO 40.0 0.0 X X 411130 0 42136 Kathleen Donahue Executive Vice President 40.0 0.0 X 182907 0 38886 Stephen Pedro CFO 40.0 0.0 X 160980 0 35942 James Metcalf VP Consumer Lending 40.0 0.0 X 147700 0 22555 Christopher Nardone Chief Lending Officer 40.0 0.0 X 136520 0 32372 Aline PAvao Dir of Human Resources 40.0 0.0 X 129500 0 32078 Kathryn MacDonald VP of Compliance 40.0 0.0 X 131240 0 25077 Nicole Cokorogianis VP IT 40.0 0.0 X 133499 0 19968 Ira Novoselsky Treasurer/Clerk/director 2.0 0.0 X X 0 0 0 Lawrence Rausch Director 2.0 0.0 X 0 0 0 Cheryl Webster Director 2.0 0.0 X 0 0 0 Stephen Salvo Director 2.0 0.0 X 0 0 0 Steven Walsh Chairman 4.0 0.0 X X 0 0 0 Paul Amirault 1st Vice Chairman 2.0 0.0 X X 0 0 0 Timothy Shea 2nd Vice Chairman 2.0 0.0 X X 0 0 0 Shawn Newton Director 2.0 0.0 X 0 0 0 Joy Livramento-Bryant Director 2.0 0.0 X 0 0 0 George Anzuoni Director 2.0 0.0 X 0 0 0 Alejandra Kough Director 2.0 0.0 X 0 0 0 1433476 0 249014 9 false true false Synergent PO Box 1236 Portland ME 04104 Core Data Provider 878743 Digital Insight corpNCR Po box 740641 Los angeles CA 900740641 Home Banking 242106 One Path 2300 Windy Ridge Parkway Suite 685 ATLANTA GA 30339 Software 100166 3 0 Interest on loans 522100 14129011 14129011 Members service fees 522100 1378288 1341542 36746 15507299 2844560 2844560 0 0 72720 72720 0 72720 72720 0 1106 -1106 -1106 -1106 0 0 0 0 0 0 0 0 0 INTERCHARGE INCOME 900099 824120 824120 OTHER INCOME 900099 112615 112615 INSURANCE REIMBURSEMENT 900099 48433 48433 13672 13672 998840 19422313 16542113 36746 2843454 90268 0 0 0 755016 0 3976697 613619 523241 393428 0 37009 84000 0 0 0 18450 0 380854 1288296 0 1132698 17424 0 40600 6747248 0 506161 32006 other expenses 668380 Servicing Contracts 255446 EDUCATION & PROMOTIONS 137918 EQUIPMENT 56511 -24802 17730468 5099950 4312263 18544600 26197786 0 0 0 0 0 0 0 0 246697264 254221899 0 0 350526 312694 13521617 5886705 7988642 7634912 58768477 56179169 17787688 13201768 0 0 0 0 12247529 16267296 367484676 378327787 274173 343665 0 0 0 0 0 0 887538 912622 0 0 0 0 22147031 20624480 314283699 325372177 337592441 347252944 X 0 0 0 0 29892235 31074843 29892235 31074843 367484676 378327787 1691845 -509237 X X false true X true false false true X 0 1631641 1631641 2046514 733928 1312586 5045755 1368126 3677629 4751685 3784651 967034 46022 46022 7634912 0 Shares and Deposits 319796964 Other Liabilities 5575213 325372177 X 19422313 19422313 19422313 17730468 17730468 17730468 PART IV, LINE 2B: MORTGAGE ESCROW ACCOUNTS ARE HELD FOR THE PAYMENT OF REAL ESTATE TAXES FOR MUNICIPALITIES. PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES ON INCOME UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND MASSACHUSETTS STATUTES. TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN, INCLUDING THE POSITION THAT THE CREDIT UNION QUALIFIES AS A TAX EXEMPT ENTITY, ARE REQUIRED TO BE EVALUATED TO DETERMINE WHETHER THE TAX POSITIONS ARE "MORE-LIKELY-THAN-NOT" TO BE UPHELD UNDER REGULATORY REVIEW. TAX POSITIONS NOT DEEMED TO MEET THE MORE-LIKELY THAN-NOT THRESHOLD WOULD BE ACCRUED AND DISCLOSED IN THE FINANCIAL STATEMENTS. THE CREDIT UNION HAS EVALUATED ITS TAX POSITIONS AS OF DECEMBER 31, 2024 AND 2023 AND HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE. CURRENTLY TAX YEARS FROM 2021 THROUGH PRESENT ARE OPEN AND SUBJECT TO EXAMINATION BY TAXING AUTHORITIES. true St Jean's Credit Union Charitable 370 highland ave salem MA 01970 824193604 501(c)(3) 100000 cash charitable contributions 1 0 Part I Description of Procedure for Monitoring Use of Funds The Credit Union's Board reviews all the donations and activities of the Foundation on a quarterly basis. The grant funds that the credit union gives to the Foundation are not restricted for a pre-determined use. X true true X X X false true false C David Surface President/CEO 317200 60000 33930 18181 23955 453266 Kathleen Donahue Executive Vice President 161914 8500 12493 14664 24222 221793 Christopher Nardone Chief Lending Officer 130102 6000 418 10922 21450 168892 Nicole Cokorogianis VP IT 127572 5500 427 7540 12428 153467 James Metcalf VP Consumer Lending 141246 6000 454 15294 7261 170255 Stephen Pedro CFO 154982 5500 498 12878 23064 196922 Kathryn MacDonald VP of Compliance 125337 5500 403 11696 13381 156317 Aline PAvao Dir of Human Resources 123250 5500 750 10360 21718 161578 PART I, LINE 4B: The Credit Union has established a nonqualified deferred compensation plan under section 457(b) of the Internal Revenue Code for certain key executives. Under the terms of this plan, certain key executives of the Credit Union defer portions of their wages, which the Credit Union uses to purchase annuities. The annuities purchased are owned by the Credit Union and are held for the purpose of funding a contractual obligation, between the Credit Union and certain key executives, to provide certain pension benefits to the key executives. As of December 31, 2024 and 2023, the 457(b) deferred income plan, which is included in other assets on the balance sheets had cumulative balances of $942,866 and $811,575, respectively. THE CREDIT UNION PROVIDES TO ELIGIBLE EMPLOYEES DEFERRED COMPENSATION BENEFITS UNDER SECTION 457(F) OF THE INTERNAL REVENUE CODE. THESE BENEFITS ARE INTENDED FOR CERTAIN MEMBERS OF A SELECT GROUP OF MANAGEMENT OR HIGHLY COMPENSATED EMPLOYEES. PARTICIPANTS RECEIVE AN ANNUAL ALLOCATION FROM THE CREDIT UNION EQUAL TO 8% OF ANNUAL SALARY FOR THE YEAR OF CONTRIBUTION. ALL SUCH AMOUNTS ALLOCATED TO THE PARTICIPANT SHALL BE DEFERRED FOR PAYMENT TO THE PARTICIPANT ON OR AFTER THE PARTICIPANT'S RETIREMENT DATE. AT DECEMBER 31, 2024 AND 2023, THE 457(F) plan, which is included in other assets on the balance sheets had cumulative balances of $684,218 and $546,647, respectively. The cost recognized by the Credit Union for the years ending December 31, 2024 and 2023, for the deferred compensation plans was $613,619 and $615,220, respectively. FORM 990, PART VI, SECTION A, LINE 6: CLASSES OF MEMBERS OR STOCKHOLDERS PERSONS WHO MEET THE REQUIREMENTS OF THE ORGANIZATION'S FIELD OF MEMBERSHIP WHO HOLD AT LEAST ONE SHARE OF THE CAPITAL FORM 990, PART VI, SECTION A, LINE 7A: ELECTION OF MEMBERS AND THEIR RIGHTS - EACH MEMBER HAS A VOTE AT THE ELECTION OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B: DECISIONS SUBJECT TO THE APPROVAL OF MEMBERS ANY CHANGES TO THE INCORPORATING DOCUMENTS, I.E BYLAWS ARE APPROVED BY MEMBERSHIP FORM 990, PART VI, SECTION B, LINE 11B: THE 990 WILL BE REVIEWED BY CEO, CFO AND DIRECTORS. DUE TO FILING DEADLINES, THE 990 MAY BE REVIEWED BY THE BOARD OF DIRECTORS SUBSEQUENT TO FILING. THE REVIEW IS DOCUMENTED IN THE MINUTES. FORM 990, PART VI, SECTION B, LINE 12C: POLICY IS REVIEWED ANNUALLY WITH THE BOARD AND EMPLOYEES. WRITTEN ACKNOWLEDGEMENTS ARE SIGNED ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15: FORM 990, PART VI, LINE 15A COMPENSATION PROCESS FOR TOP OFFICIAL CEO'S COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS, EXECUTIVE COMITTEE. WAGE AND SALARY PLAN INTRODUCED IN 2013. JOB DESCRIPTIONS WERE UPDATED. A SALARY SURVEY WAS CONDUCTED BY AN INDEPENDENT COMPANY. ALL POSITIONS WERE EVALUATED. POSITIONS WITHIN THE CREDIT UNION HAVE BEEN ASSIGNED A RANK. SALARY RANGES WERE ESTABLISHED FOR EACH RANK. COMPENSATION IS BASED ON CURRENT AND RELATED EXPERIENCE. FORM 990, PART VI, LINE 15B CEO'S COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS. SENIOR MANAGEMENT IS DETERMINED BY INCREASE SET FORTH FOR STAFF AND APPROVED BY THE BOARD OF DIRECTORS. SALARY SURVEYS, INDUSTRY TRENDS AND EARNINGS ARE ALL TAKEN INTO CONSIDERATION. FORM 990, PART VI, SECTION C, LINE 19: GOVERNING DOCUMENTS ARE POSTED IN THE LOBBY AT BRANCH LOCATIONS AND ARE AVAILABLE UPON REQUEST. THE INFORMATION IS UPDATED ON A MONTHLY BASIS AFTER THE BOARD MEETS. FORM 990, PART XII, LINE 2C THE ORGANIZATION DID NOT CHANGE EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. false false true false false false false false false false false false false false false false false false false St Jean's Credit Union Charitable Foundation Contr 100000 cash