2021-11-10T11:41:23-06:00 2020-12-31 472604526 GARVEY STEELE & BANCROFT LLP PO BOX 397 MYSTIC CT 063550397 990 2020-01-01 042079800 ENERGY CREDIT UNION ENER 6173251999 156 SPRING STREET WEST ROXBURY MA 02132 JAMES BROUDER CFO 6173251999 2021-11-10 true JAMES BRODEUR 999009999 MICHAEL R GARVEY CPA P00264137 8605369831 2021-11-10 2020 2022-09-23 18:48:47Z BARBARA KELLEHER 156 SPRING STREET WEST ROXBURY MA 02132 4807839 false X WWW.ENERGYCREDITUNION.ORG X 1931 MA ENERGY CREDIT UNION IS A STATE CHARTERED CREDIT UNION. THE CREDIT UNION PROVIDES DEPOSIT AND LOAN SERVICES TO ITS MEMBERS. ITS PRIMARY DEPOSIT PRODUCTS ARE SAVINGS, CHECKING AND TERM CERTIFICATE ACCOUNTS AND ITS PRIMARY LENDING PRODUCTS ARE RESIDENTIAL MORTGAGES AND CONSUMER LOANS. 9 9 14 9 13431 0 2836183 3024406 564016 379226 295425 229207 3695624 3632839 5000 5000 0 1234659 1256587 0 0 2105935 2170684 3345594 3432271 350030 200568 92552941 103907505 76855822 87829288 15697119 16078217 X ENERGY CREDIT UNION IS A STATE CHARTERED CREDIT UNION. THE CREDIT UNION PROVIDES DEPOSIT AND LOAN SERVICES TO ITS MEMBERS. ITS PRIMARY DEPOSIT PRODUCTS ARE SAVINGS, CHECKING AND TERM CERTIFICATE ACCOUNTS AND ITS PRIMARY LENDING PRODUCTS ARE RESIDENTIAL MORTGAGES AND CONSUMER LOANS. false false MAINTENANCE OF MEMBERS' DEPOSITS AND PAYMENTS OF INTEREST AND DIVIDENDS. AT 12/31/20, THE CREDIT UNION HAD 2,049 LOANS OUTSTANDING. ALSO, MEMBERS HAD 8,283 DEPOSIT ACCOUNTS. 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 false false true false false false false false false false false false false false false false false true 2961 0 14 true true true false false false false false false false X 9 9 true false false true true true false true true false false true true true true true true true true false MA X X JAMES BROUDER CFOVP 6173251999 156 SPRING STREET WEST ROXBURY MA 02132 PAUL NOCE PRESIDENT AN 40.00 X X 225349 0 17695 HOOI SING TAN EXECUTIVE VP 40.00 X 119747 0 29443 THOMAS HESSION VP/CFO/TREAS 40.00 X 119431 0 18108 MARIE PREVETT VP/COO 40.00 X 125409 0 8413 ANTHONY CISTERNELLI DIRECTOR X 0 0 0 FAUSTINA FORTES CLERK X X 0 0 0 WILLIAM GOODWIN DIRECTOR X 0 0 0 DANIEL HERNON DIRECTOR X 0 0 0 JAMES GODDING JR DIRECTOR X 0 0 0 BARBARA KELLEHER CHAIRPERSON X X 0 0 0 ROBERT LEWIS DIRECTOR X 0 0 0 DANIEL O'CONNELL DIRECTOR X 0 0 0 FRANCO ROMERO VICE CHAIRPE X X 0 0 0 JAMES BROUDER CFO 40.00 X 0 0 0 589936 73659 4 false true false CONNECTICUT ONLINE (COCC) 135 DARLING DRIVE AVON PARK AVON CT 06001 DATAPROCESSING 360096 FISERV PO BOX 934057 ATLANTA GA 311934057 DATA PROCESSING 127369 2 INTEREST ON LOANS 3024406 3024406 3024406 379629 379629 1174597 1175000 -403 -403 -403 OTHER INCOME 167897 167897 MEMBER SERVICE FEES 47879 47879 INSURANCE 524298 12057 12057 1374 1374 229207 3632839 3619408 13431 5000 663595 433502 14797 66865 77828 11852 62201 7423 22649 49637 487465 176124 1873 815853 39729 DEPRECIATION 116662 ATM EXPENSES 83242 EQUIPMENT AND MAINTENANCE 63158 PROVISION FOR LOAN LOSS 56000 176816 3432271 0 0 0 6270641 20890845 750000 750000 65320290 59691959 126438 83405 3613805 930149 2774110 2683656 15875685 15761046 1435777 4046594 92552941 103907505 1282510 594228 211507 220485 6474535 3935313 68887270 83079262 76855822 87829288 X 15697119 16078217 15697119 16078217 92552941 103907505 200568 180530 X false true X true false false true X 700000 700000 2501633 668147 1833486 78730 45901 32829 333442 216101 117341 2683656 MEMBERS SHARES AND DEPOSITS ACCOUNTS 83079262 83079262 X 3632839 3632839 3632839 3432271 3432271 3432271 SCHEDULE D, PAGE 2, PART IV, LINE 2B MORTGAGE ESCROW ACCOUNTS HELD FOR THE PAYMENT OF REAL ESTATE TAXES FOR MUNICIPALITIES. SCHEDULE D, PAGE 3, PART X THE CREDIT UNION RECOGNIZES AND MEASURES IT UNRECOGNIZED TAX POSITIONS IN ACCORDANCE WITH FASB ASC 740, INCOME TAXES. UNDER THE GUIDANCE THE CREDIT UNION ASSESSES THE LIKELIHOOD, BASED ON THEIR TECHNICAL MERIT, THAT TAX POSITIONS WILL BE SUSTAINED UPON EXAMINATION BASED ON THE FACTS, CIRCUMSTANCES AND INFORMATION AVAILABLE AT THE END OF EACH PERIOD. THE MEASUREMENT OF UNRECOGINZED TAX POSITIONS IS ADJUSTED WHEN NEW INFORMATION IS AVAILABLE, OR WHEN AN EVENT OCCURS THAT REQUIRES A CHANGE. THE CREDIT UNION'S POLICY IS TO ANALYZE ITS POSITIONS FOR ALL OPEN YEARS. THE CREDIT UNION HAS NOT IDENTIFIED ANY UNCERTAIN TAX POSITIONS REQUIRING ACCRUAL DISCLOSURE AT DECEMBER 31, 2020. INTEREST AND PENALTIES, IF ANY, ASSOCIATED WITH UNCERTAIN TAX POSITIONS WOULD BE CLASSIFIED AS OTHER EXPENSE IN THE STATEMENT OF INCOME. THE CREDIT UNION'S INCOME TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES; HOWEVER, THERE ARE CURRENTLY NO EXAMINATIONS FOR ANY TAX PERIODS IN PROCESS. MANAGEMENT OF THE CREDIT UNION BELIEVES IT IS NO LONGER SUBJECT TO EXAMINATION FOR TAX YEARS PRIOR TO 2017. X X X false false false PAUL NOCE PRESIDENT AND CEO 215265 10084 10166 7529 243044 FORM 990 - ORGANIZATION'S MISSION ENERGY CREDIT UNION IS A STATE CHARTERED CREDIT UNION. THE CREDIT UNION PROVIDES DEPOSIT AND LOAN SERVICES TO ITS MEMBERS. ITS PRIMARY DEPOSIT PRODUCTS ARE SAVINGS, CHECKING AND TERM CERTIFICATE ACCOUNTS AND ITS PRIMARY LENDING PRODUCTS ARE RESIDENTIAL MORTGAGES AND CONSUMER LOANS. FORM 990, PAGE 6, PART VI, LINE 2 WYATT'S INCORPORATED PAUL NOCE IT CONSULT CEO BROTHER IN LAW OF CEO BROMLEY AGENCY HOOI SING TAN WEBSITE CONS EXEC VP HUSBAND TO EXEC VP FORM 990, PAGE 6, PART VI, LINE 5 DURING 2020 THE CREDIT UNION BECAME AWARE OF UNAUTHORIZED TRANSACTION TO A MEMBER ACCOUNT. THE CREDIT UNION SUSPECTED THAT AN EMPLOYEE (WHO IS NO LONGER EMPLOYED) MAY BE INVOLVED IN THE TRANSACTION. THE CREDIT UNION RECOGNIZED 10,000 IN LOSSES AND SUSPECTS THERE MAY BE OTHERS TOTALING 104,500. THE CREDIT UNION IS CONTINUING TO INVESTIGATE AND HAS NOTIFIED THEIR INSURANCE CARRIER. FORM 990, PAGE 6, PART VI, LINE 6 PERSONS WHO MEET THE REQUIREMENTS OF THE ORGANIZATION'S FIELD OF MEMBERSHIP WHO HOLD AT LEAST ONE SHARE OF THE CAPITAL. FORM 990, PAGE 6, PART VI, LINE 7A EACH MEMBER HAS A VOTE AT THE ELECTION OF THE BOARD OF DIRECTORS. FORM 990, PAGE 6, PART VI, LINE 11B THE FORM 990 WILL BE REVIEWED ONCE COMPLETED. DUE TO TIMING BETWEEN COMPLETION AND FILING DUE DATE, THE REVIEW MAY BE SUBSEQUENT TO FILING. THE BOARDS ACTIONS WILL BE NOTED IN THE BOARD MINUTES. FORM 990, PAGE 6, PART VI, LINE 12C DIRECTORS SIGN OFF THAT THEY HAVE READ AND UNDERSTAND THE CONFLICTS OF INTEREST POLICY. FORM 990, PAGE 6, PART VI, LINE 15A BOARD APPROVES COMPENSATION BASED UPON PERFORMANCE AND INDUSTRY. FORM 990, PAGE 6, PART VI, LINE 15B BOARD APPROVES COMPENSATION BASED UPON PERFORMANCE AND INDUSTRY. FORM 990, PAGE 6, PART VI, LINE 19 FINANCIALS ARE AVAILABLE ON NCUA.GOV WEBSITE AND POSTED IN THE CREDIT UNION. OTHER INFORMATION IS AVAILABLE UPON REQUEST.