2021-11-05T09:36:51-05:00 2020-12-31 042689883 WOLF & COMPANY PC 255 STATE STREET BOSTON MA 02109 990 2020-01-01 042128094 ST ANNE'S CREDIT UNION OF FALL RIVER STAN 5083247300 286 OLIVER STREET FALL RIVER MA 027242998 PETER PANAGGIO CFO 5083247300 2021-11-05 1 PETER PANAGGIO 000003257 HARRY A KALAJIAN JR CPA P00464296 6174399700 2021-11-05 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z PETER PANAGGIO 286 OLIVER STREET FALL RIVER MA 027242998 39232968 0 X N/A X 1935 MA ST. ANNE'S CREDIT UNION (THE "CREDIT UNION") PROVIDES A VARIETY OF FINANCIAL SERVICES TO ITS MEMBERS THROUGH ITS FULL SERVICE OFFICES AND LOAN CENTERS IN SOUTHEASTERN MASSACHUSETTS. ITS PRIMARY DEPOSIT PRODUCTS ARE SAVINGS, CHECKING, MONEY MARKET, AND TERM CERTIFICATE ACCOUNTS AND ITS PRIMARY LENDING ASSETS ARE RESIDENTIAL MORTGAGE, COMMERCIAL MORTGAGE AND CONSUMER LOANS. 10 7 293 10 0 0 0 0 30736154 29187580 2943791 3361650 4006268 3808483 37686213 36357713 157824 134807 0 0 11510098 12020964 0 0 0 20712006 22939850 32379928 35095621 5306285 1262092 1017134867 1194115586 912957876 1087862853 104176991 106252733 X ST. ANNE'S CREDIT UNION (THE "CREDIT UNION") PROVIDES A VARIETY OF FINANCIAL SERVICES TO ITS MEMBERS THROUGH ITS FULL SERVICE OFFICES AND LOAN CENTERS IN SOUTHEASTERN MASSACHUSETTS. ITS PRIMARY DEPOSIT PRODUCTS ARE SAVINGS, CHECKING, MONEY MARKET, AND TERM CERTIFICATE ACCOUNTS AND ITS PRIMARY LENDING ASSETS ARE RESIDENTIAL MORTGAGE, COMMERCIAL MORTGAGE AND CONSUMER LOANS. 0 0 ST. ANNE'S CREDIT UNION IS A COOPERATIVE OWNED, DIRECTED BY, AND DEDICATED TO ITS MEMBERS. AT THE END OF 2020, THE CREDIT UNION HAD $1.003 BILLION SHARE ACCOUNT DEPOSITS, $803 MILLION IN LOANS TO MEMBERS 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 33471 0 1 293 1 0 0 0 0 0 0 0 0 X 10 7 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 0 0 X PETER PANAGGIO CFO 5083247478 286 OLIVER STREET FALL RIVER MA 027242998 WILLIAM R BOUCHARD CHAIRMAN OF THE BOARD 1.00 X X 23091 0 6666 ALBERT E MERCIER DIRECTOR 1.00 X 0 0 4444 JO-ANN BENTLEY DIRECTOR 1.00 X 396 0 2827 KEVIN C FITZPATRICK DIRECTOR 1.00 X 258 0 6804 JOSEPH R J CASTONGUAY DIRECTOR 1.00 X 0 0 5840 BRUCE E FERNANDES DIRECTOR 1.00 X 396 0 4167 COLLEEN BRADY DIRECTOR 1.00 X 138 0 6554 BERNARD J MCDONALD III DIRECTOR 1.00 X 258 0 5199 JOHN R LEDWIDGE DIRECTOR/VICE CHAIRMAN 1.00 X X 21149 0 6666 SIMONE L GARANT DIRECTOR/TREASURER/CLERK 1.00 X X 14539 0 4759 EILEEN DANAHEY PRESIDENT/CEO 40.00 X 499144 0 14762 PETER PANAGGIO SVP/CFO 40.00 X 240964 0 14761 CARLOS DACUNHA SVP/CLO 40.00 X 231919 0 14761 NINA DESPRES MORTGAGE LOAN OFFICER 40.00 X 160218 0 14391 ROSE CORTES MORTGAGE LOAN OFFICER 40.00 X 163536 0 18127 DEBORAH DION VP INFORMATION SERVICES 40.00 X 190190 0 17749 MICHELLE MARCOS SVP HAUMAN RESOURCES 40.00 X 149895 0 14539 TIM SOUZA SR. MORTGAGE LOAN OFFICER 40.00 X 226150 0 18859 1922241 0 181875 15 0 1 0 FISERV 255 FISERV DRIVE BROOKFIELD WI 53045 TECHNOLOGY SOLUTIONS 2684823 MAPLE STREET INC 280 WEKIVA SPRINGS RD 3000 LONGWOOD FL 32779 CREDIT UNION CONSULTING 810917 ADT COMMERCIAL PO BOX 650394 DALLAS TX 75265 BUSINESS EQUIPMENT & MAINTENANCE 610492 PAGE BUILDING CONSTRUCTION CO INC 135 OLD PAGE STREET UNIT 4 STOUGHTON MA 02072 CONSTRUCTION & REMODELING 214004 MC CLEANING SERVICE PO BOX 782 NORTON MA 02766 CLEANING SERVICES 205723 12 MEMBER LOAN INTEREST 525900 29187580 29187580 29187580 1280142 1280142 2975911 1980852 2875255 0 100656 1980852 2081508 2081508 CUSTOMER SERVICE FEES 525900 3312055 3312055 OTHER LOAN FEES 525900 270733 270733 SAFE DEPOSIT FEES 525900 128033 128033 97662 97662 3808483 36357713 32996063 0 3361650 110807 24000 1032252 8072134 567943 1687911 660724 264637 206066 518631 894704 1036388 2588317 1600402 30142 86223 10574725 1732462 433259 ATM & BANK CHARGES 1198651 OTHER EXPENSES 819322 LOAN LOSS PROVISION 669639 LOAN EXPENSES 160994 125288 35095621 4978599 4271247 102811226 253183262 829592431 803204887 237130 899272 35341164 17326023 16565058 18015141 40406683 83548709 22543740 30993068 1017134867 1194115586 2252269 1745179 2054900 2023094 908650707 1084094580 912957876 1087862853 X 0 0 0 0 104176991 106252733 104176991 106252733 1017134867 1194115586 X 1262092 768812 44838 X X 0 1 X 1 0 0 1 X 3706096 3706096 19155114 10433528 8721586 2104695 1677050 427645 5928176 4333957 1594219 4447083 881488 3565595 18015141 CREDIT UNION MEMBER DEPOSITS 1003400346 FNMA CUSTODIAL 255828 OTHER LIABILITIES 707210 FHLB ADVANCES 79731196 1084094580 X 36357713 0 36357713 0 36357713 35095621 0 35095621 0 35095621 PART IV, LINE 2B: ST. ANNE'S CREDIT UNION AS PART OF LOAN OPERATIONS COLLECTS PAYMENTS FROM BORROWERS TO BE HELD IN ESCROW TO PAY REAL ESTATE TAXES AND HOME OWNERS INSURANCE PREMIUMS. PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM FEDERAL AND STATE TAXES ON INCOME UNDER PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE 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. THERE ARE NO UNCERTAIN TAX POSITIONS THAT REQUIRE ACCRUAL OR DISCLOSURE AT DECEMBER 31, 2020 OR 2019. 1 BRISTOL COMMUNITY COLLEGE FOUNDATION INC 777 ELSBREE ST FALL RIVER MA 02720 042707491 501(C)(3) 5560 CHARITABLE CONTRIBUTIONS COOPERATIVE CREDIT UNION ASSOCIATION 845 DONALD LYNCH BLVD MARLBOROUGH MA 01752 043403594 501(C)(6) 5000 CHARITABLE CONTRIBUTIONS NARRAGANSETT COUNCIL PO BOX 14777 10 RISHO AVENUE EAST PROVIDENCE RI 02914 050308384 501(C)(3) 8000 CHARITABLE CONTRIBUTIONS SOUTHCOAST HEALTH PHILANTHROPY DEPT 101 PAGE STREET NEW BEDFORD MA 02740 042794625 501(C)(3) 11107 CHARITABLE CONTRIBUTIONS THE VIETNAM VETERANS MEMORIAL WALL PO BOX 4210 FALL RIVER MA 02723 521149668 501(C)(3) 5000 CHARITABLE CONTRIBUTIONS UNITED WAY OF GREATER FALL RIVER INC 30 BEDFORD ST FALL RIVER MA 02720 042104026 501(C)(3) 10250 CHARITABLE CONTRIBUTIONS UNITED WAY OF GREATER NEW BEDFORD INC 128 UNION ST SUITE 105 NEW BEDFORD MA 02740 042104264 501(C)(3) 5000 CHARITABLE CONTRIBUTIONS SOUTHEASTERN MASS VETERANS HOUSING PROGRAM 344 COUNTY STREET NEW BEDFORD MA 02740 111190035 501(C)(3) 8333 CHARITABLE CONTRIBUTIONS ARGOSY COLLEGIATE CHARTER 263 HAMLET ST FALL RIVER MA 02724 463211143 501(C)(3) 5000 CHARITABLE CONTRIBUTIONS NEW BEDFORD CHAMBER FOUNDATION INC 227 UNION ST LBBY 2 NEW BEDFORD MA 02740 223000884 501(C)(3) 14010 CHARITABLE CONTRIBUTIONS 9 1 SCHOLARSHIP 12 24000 PART I, LINE 2: MANAGEMENT TEAM AND BOARD OF DIRECTORS REVIEWS EACH APPLICATION CAREFULLY AND MONITOR GRANT PROCESS CLOSELY TO ENSURE THAT EXPENDITURES ARE APPROPRIATE. X 1 1 X X 0 1 0 EILEEN DANAHEY PRESIDENT/CEO 436276 0 62868 0 0 0 0 0 14762 0 513906 0 0 0 PETER PANAGGIO SVP/CFO 223651 0 17313 0 0 0 0 0 14761 0 255725 0 0 0 CARLOS DACUNHA SVP/CLO 214450 0 17469 0 0 0 0 0 14761 0 246680 0 0 0 TIM SOUZA SR. MORTGAGE LOAN OFFICER 224650 0 1500 0 0 0 0 0 18859 0 245009 0 0 0 DEBORAH DION VP INFORMATION SERVICES 188690 0 1500 0 0 0 0 0 17749 0 207939 0 0 0 ROSE CORTES MORTGAGE LOAN OFFICER 161036 0 2500 0 0 0 0 0 18127 0 181663 0 0 0 NINA DESPRES MORTGAGE LOAN OFFICER 158718 0 1500 0 0 0 0 0 14391 0 174609 0 0 0 MICHELLE MARCOS SVP HAUMAN RESOURCES 145895 0 4000 0 0 0 0 0 14539 0 164434 0 0 0 PART I, LINE 4B THE CREDIT UNION HAS ENTERED INTO AN EMPLOYMENT AGREEMENT ("AGREEMENT") WITH AN EXECUTIVE WHICH PROVIDES FOR A BASE SALARY AND THE CONTINUATION OF CERTAIN BENEFITS CURRENTLY RECEIVED. THE AGREEMENT SHALL BE AUTOMATICALLY EXTENDED FOR ADDITIONAL ONE YEAR TERMS UNLESS THE CREDIT UNION PROVIDES WRITTEN NOTICE OF NON-RENEWAL. THE AGREEMENT PROVIDES FOR SPECIFIED SEVERANCE BENEFITS UPON TERMINATION WITHOUT CAUSE OR UPON A CHANGE IN CONTROL, BOTH AS DEFINED IN THE AGREEMENT, HOWEVER, SUCH EMPLOYMENT MAY BE TERMINATED FOR CAUSE, AS DEFINED, WITHOUT INCURRING ANY CONTINUING OBLIGATIONS. ADVANCED ALARM SYSTEMS KEVIN FITZPATRICK, DIRECTOR 107842 KEVIN FITZPATRICK, DIRECTOR OF THE CREDIT UNION, IS ALSO THE GENERAL MANAGER OF THE ADVANCED ALARM SYSTEMS. AVDANCED ALARM SYSTEMS PROVIDES ALARM SERICES TO THE CREDIT UNION. 0 FORM 990, PART VI, SECTION A, LINE 6 LINE 6 - THE CREDIT UNION IS A MEMBERS ONLY CREDIT UNION ACCEPTING MEMBERS FROM THE MASSACHUSETTS COUNTIES OF BARNSTABLE, BRISTOL, AND PLYMOUTH; THE RHODE ISLAND COUNTIES OF BRISTOL, NEWPORT, AND PROVIDENCE; AND THE FOLLOWING ADDITIONAL TOWNS IN RHODE ISLAND: COVENTRY, EAST GREENWICH, WARWICK, WEST WARWICK AND NORTH KINGSTOWN. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS VOTE FOR THE BOARD OF DIRECTORS AT THE ANNUAL MEETING AND VOTE ON ALL BUSINESS PRESENTED AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS VOTE FOR THE BOARD OF DIRECTORS AT THE ANNUAL MEETING AND VOTE ON ALL BUSINESS PRESENTED AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF DIRECTORS HAS DELEGATED THE RESPONSIBILITY TO REVIEW APPROVE AND SIGN THE FORM 990 TO THE CEO OR CFO. THE BOARD IS PROVIDED A COPY OF THE 990 UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 12C THE CREDIT UNION HAS A CONFLICT OF INTEREST POLICY. EACH YEAR ALL EMPLOYEES AND DIRECTORS MUST DISCLOSE ANY CONFLICTS TO THE BOARD WHICH IS RESPONSIBLE TO SEE THAT ALL CONFLICTS ARE RESOLVED. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD APPROVES THE EMPLOYMENT CONTRACT OF THE CEO AFTER REVIEW OF CEO'S PERFORMANCE AND OTHER CRITERIA. FORM 990, PART VI, SECTION C, LINE 19 THE ORGNIZATIONAL GOVERNING DOCUMENTS, FINANCIAL STATMENTS AND FORM 990 ARE AVAILABLE UPON REQUEST TO THE GENERAL PUBLIC. FORM 990, PART XI, LINE 9: OBLIGATION ON DEFINED BENEFIT PLAN FAS 158 44,838. FORM 990, PART IV, LINE 2C: THERE WAS NO CHANGE IN THE OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR 2020.