2021-11-11T10:03:35-06:00 2020-12-31 042689883 WOLF & COMPANY PC 255 STATE STREET BOSTON MA 02109 990 2020-01-01 020222930 NORTHEAST CREDIT UNION NORT 6034361847 PO BOX 1240 PORTSMOUTH NH 038021240 SUSAN HANNIGAN SVP, CFO 6034361847 2021-11-11 1 SUSAN HANNIGAN 000005544 HARRY A KALAJIAN JR CPA P00464296 6174399700 2021-11-11 0 AAL1 IAL1 2020 2022-09-23 18:48:47Z TIMOTHY COLLIA PO BOX 1240 PORTSMOUTH NH 038021240 75789429 0 X WWW.NECU.ORG X 1936 NH PROVIDE CREDIT UNION SERVICES TO ITS MEMBERS. 7 7 434 12 227487 0 0 0 73275357 74342684 3063129 1439710 0 7035 76338486 75789429 40000 40000 11460738 0 25294189 27928216 0 0 0 28746183 42752324 65541110 70720540 10797376 5068889 1544752314 1818813530 1388925270 1658374340 155827044 160439190 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 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 19473 2 1 434 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 SUSAN HANNIGAN 6035591707 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 DONALD KENNEY DIRECTOR 2.00 X 0 0 0 TIMOTHY J COLLIA PRESIDENT/CEO 40.00 X 595804 0 50259 MICHAEL H GAGNON SVP CHIEF TECHNOLOGY OFFICER 40.00 X 268762 0 43845 ANDREA PRUNA SVP CHIEF MARKETING & RETAIL OFFICER 40.00 X 257137 0 57263 KELLY MCGRATH SVP CHIEF LENDING OFFICER 40.00 X 238693 0 37202 ANA MICHELE FORET SVP CHIEF RISK OFFICER 40.00 X 155805 0 34828 STEPHEN J GIGUERE SVP CFO (ENDED 2/24/2020) 40.00 X 178669 0 15301 JUDY MORIN SVP COO (ENDED 11/6/2020) 40.00 X 247474 0 40301 JENNIFER DAY VP IT 40.00 X 188475 0 49032 TRACI J TENGGREN VP HUMAN RESOURCES 40.00 X 186518 0 55534 SUZANNE R LADD VP CONSUMER DIRECT LENDING 40.00 X 166409 0 32495 ARTHUR WILLIAM MACGREGOR SALES REP 40.00 X 142543 0 54710 GEORGE SUNDERLAND AVP IT 40.00 X 140895 0 14278 2767184 0 485048 35 0 1 0 CFGI HOLDINGS LLC 1 LINCOLN STREET SUITE 1301 BOSTON MA 02111 ACCOUNTING ADVISORY 2360574 LEVEL 5 LLC 2018 POWERS FERRY RD SE SUITE 750 ATLANTA GA 30339 BUILT BRANCH - HOOKSETT 394305 CUSTOMIZED SERVICE CONCEPTS LLC 18 COTE AVENUE SUITE 13 GOFFSTOWN NH 03045 SALES & SERVICE 176058 ARKATECHTURE PO BOX 678 PORTLAND ME 04101 DATA ANALYTICS & CONSULTING 125015 4 LOAN INCOME 522100 55200441 55200441 OTHER INCOME 522100 12995718 12775266 220452 TOTAL FEES INCOME 522100 6146525 6146525 74342684 1436854 1436854 2856 0 2856 2856 2856 BORTHWICK 900099 22014 22014 OTHER NON-OPERATING INCOME 900099 -5979 -5979 OCTANT 900099 -9000 -9000 7035 75789429 74125088 227487 1436854 40000 1942345 19606651 1926549 2942249 1510422 32160 286996 33715 3230184 1689045 4341748 2111312 2263893 33262 152074 13976094 2741468 260086 PROVISIONS FOR LOSS 4193429 PROCESSING FEES 3288682 LOAN SERVICING EXPENSES 2753457 OTHER EXPENSES 744416 620303 70720540 15935138 160865156 0 26049701 1352348174 1383979564 2572756 2343472 60229213 23589074 36264846 36640139 96399875 203806327 41231525 5129171 1544752314 1818813530 10309446 12416218 742566 3432920 94579110 80262320 1283294148 1562262882 1388925270 1658374340 X 0 0 0 0 155827044 160439190 155827044 160439190 1544752314 1818813530 5068889 -456743 0 X X 0 1 X 1 0 0 1 X 15637939 15637939 23023649 7540366 15483283 1017332 948237 69095 20550293 15100471 5449822 36640139 INVESTMENT IN CO-OP OCEAN 20000 C CUSO CUDL 800000 C CUSO MORTGAGE 1221079 C FEDERAL HOME LOAN BANK STOCK 4287300 C INVESTMENTS IN BORTHWICK ASSOCIATES 296155 C LPL FINANCIAL STOCK 20610 C OCTANT BUSINESS SERVICES 346377 C CERTIFICATES OF DEPOSIT 30867571 C OTHER - SHARES AND DEPOSITS AT CU CORP 150390836 C MEMBER SHARES IN LEAGUE CENTRAL 1174088 C NCUSIF DEPOSIT 14382311 C 203806327 MEMBER SHARES 1561306253 OTHER LIABILITIES 956629 1562262882 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 2018 THROUGH 2020 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. 1 COLLEGE SCHOLARSHIP 24 40000 CASH VALUE FORM 990, SCHEDULE I, PART III (B) THE ORGANIZATION PROVIDED SCHOLARSHIP ASSISTANCE TO 24 INDIVIDUAL STUDENTS IN 2020. X 1 1 X X 1 0 0 TIMOTHY J COLLIA PRESIDENT/CEO 540441 0 44704 0 10659 0 22800 0 27459 0 646063 0 0 0 ANDREA PRUNA SVP CHIEF MARKETING & RETAIL OFFICER 237601 0 19536 0 0 0 21491 0 35772 0 314400 0 0 0 MICHAEL H GAGNON SVP CHIEF TECHNOLOGY OFFICER 247993 0 20769 0 0 0 30057 0 13788 0 312607 0 0 0 JUDY MORIN SVP COO (ENDED 11/6/2020) 227674 0 19800 0 0 0 26943 0 13358 0 287775 0 0 0 KELLY MCGRATH SVP CHIEF LENDING OFFICER 220389 0 18304 0 0 0 24414 0 12788 0 275895 0 0 0 TRACI J TENGGREN VP HUMAN RESOURCES 171752 0 14766 0 0 0 21554 0 33980 0 242052 0 0 0 JENNIFER DAY VP IT 173339 0 15136 0 0 0 20909 0 28123 0 237507 0 0 0 SUZANNE R LADD VP CONSUMER DIRECT LENDING 153649 0 12760 0 0 0 18707 0 13788 0 198904 0 0 0 ARTHUR WILLIAM MACGREGOR SALES REP 41735 0 100808 0 0 0 17138 0 37572 0 197253 0 0 0 STEPHEN J GIGUERE SVP CFO (ENDED 2/24/2020) 160013 0 18656 0 0 0 8607 0 6694 0 193970 0 0 0 ANA MICHELE FORET SVP CHIEF RISK OFFICER 149865 0 5940 0 0 0 17635 0 17193 0 190633 0 0 0 GEORGE SUNDERLAND AVP IT 132999 0 7896 0 0 0 13282 0 996 0 155173 0 0 0 PART I, LINE 4A SCHEDULE J, PART I, LINE 4A: STEPHEN J. GIGUERE RECEIVED $106,000 SEVERANCE PAYMENT IN 2020. 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 32596 194665 0 0 0.12500 BORTHWICK ASSOCIATES PO BOX 269 PORTSMOUTH NH 03801 020385845 INSURANCE & INVESTMENTS NH NORTHEAST CREDIT UNION C 272543 303804 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 142408 FAIR MARKET VALUE BORTHWICK ASSOCIATES N 70205 FAIR MARKET VALUE NORTHEAST CREDIT UNION FOUNDATION B 100000 CASH