2020-11-02T16:07:19-06:00 2019-12-31 042689883 WOLF & COMPANY PC 99 HIGH STREET 21ST FLOOR BOSTON MA 02110 990 2019-01-01 042128094 ST ANNE'S CREDIT UNION OF FALL RIVER STAN 5083247300 286 OLIVER STREET FALL RIVER MA 027242998 PETER PANAGGIO CFO 5083247300 2020-11-02 1 HARRY A KALAJIAN JR CPA P00464296 6174399700 2020-11-02 146.115.156.5 2020-11-02 15:53:57 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 36AF408B42A4B53A88AB405E67774237CBEDE7D8 2019 2021-04-22 16:20:28Z PETER PANAGGIO 286 OLIVER STREET FALL RIVER MA 027242998 37686213 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 7 274 10 0 0 0 0 28551962 30736154 2502856 2943791 4498980 4006268 35553798 37686213 99609 157824 0 0 10729829 11510098 0 0 0 17553793 20712006 28383231 32379928 7170567 5306285 960436825 1017134867 862402831 912957876 98033994 104176991 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 2019, THE CREDIT UNION HAD $829 MILLION SHARE ACCOUNT DEPOSITS, $830 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 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 32225 0 1 274 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 22236 0 5611 ALBERT E MERCIER DIRECTOR 1.00 X 0 0 4444 JO-ANN BENTLEY DIRECTOR 1.00 X 396 0 2406 KEVIN C FITZPATRICK DIRECTOR 1.00 X 258 0 5485 JOSEPH R J CASTONGUAY DIRECTOR 1.00 X 0 0 5347 BRUCE E FERNANDES DIRECTOR 1.00 X 396 0 3732 COLLEEN BRADY DIRECTOR 1.00 X 138 0 5485 BERNARD J MCDONALD III DIRECTOR 1.00 X 258 0 4544 JOHN R LEDWIDGE DIRECTOR/VICE CHAIRMAN 1.00 X X 18718 0 5347 SIMONE L GARANT DIRECTOR/TREASURER/CLERK 1.00 X X 14000 0 4552 EILEEN DANAHEY PRESIDENT/CEO 40.00 X 464223 0 9334 PETER PANAGGIO SVP/CFO 40.00 X 225437 0 9334 CARLOS DACUNHA SVP/CLO 40.00 X 194066 0 9334 NINA DESPRES MORTGAGE LOAN OFFICER 40.00 X 132987 0 10508 RICHARD KANE VP COMMERCIAL LENDING 40.00 X 151707 0 5136 DEBORAH DION VP INFORMATION SERVICES 40.00 X 177093 0 10137 LUISA ROCHESTER VP RESIDENTIAL LENDING 40.00 X 133538 0 10653 TIM SOUZA SR. MORTGAGE LOAN OFFICER 40.00 X 204936 0 10895 1740387 0 122284 14 0 1 0 FISERV 255 FISERV DRIVE BROOKFIELD WI 53045 TECHNOLOGY SOLUTIONS 3008266 PAGE BUILDING CONSTRUCTION CO INC 135 OLD PAGE STREET UNIT 4 STOUGHTON MA 02072 CONSTRUCTION & REMODELING 639019 ADT COMMERCIAL PO BOX 650394 DALLAS TX 75265 BUSINESS EQUIPMENT & MAINTENANCE 359687 MATRIX TRUST COMPANY ATTN TPA 005315 PO BOX 3595 NEW YORK NY 100083595 MANAGEMENT SERVICES 271566 NEW ENGLAND MONEY HANDLING SYSTEMS 45 SOUTH STREET SUITE 6 HOPKINTON MA 01748 SALES SERVICE SOLUTIONS 206020 19 MEMBER LOAN INTEREST 525900 30736154 30736154 30736154 2662518 2662518 281273 0 281273 281273 281273 CUSTOMER SERVICE FEES 525900 3487708 3487708 OTHER LOAN FEES 525900 190506 190506 SAFE DEPOSIT FEES 525900 102103 102103 225951 225951 4006268 37686213 34742422 0 2943791 157824 940126 7634398 650266 1554896 730412 198781 220035 382057 910283 978380 2623342 1640400 42740 169509 9103059 1657559 86268 ATM & BANK CHARGES 1043683 OTHER EXPENSES 793865 LOAN LOSS PROVISION 693054 LOAN EXPENSES 103443 65548 32379928 3909013 4978599 49623829 102811226 823059284 829592431 280282 237130 32208900 15643842 15627564 16565058 48375987 40406683 19560866 22543740 960436825 1017134867 2145210 2252269 2051391 2054900 858206230 908650707 862402831 912957876 X 0 0 0 0 98033994 104176991 98033994 104176991 960436825 1017134867 X 5306285 853438 -16726 X X 0 1 X 1 0 0 1 X 3706096 3706096 18078448 9611520 8466928 2098899 1533981 564918 4949361 3675073 1274288 3376096 823268 2552828 16565058 CREDIT UNION MEMBER DEPOSITS 829016561 FNMA CUSTODIAL 319955 OTHER LIABILITIES 1084354 FHLB ADVANCES 78229837 908650707 X 37686213 0 37686213 0 37686213 32379928 0 32379928 0 32379928 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, 2019 OR 2018. 1 BRISTOL COMMUNITY COLLEGE FOUNDATION INC 777 ELSBREE ST FALL RIVER MA 02720 042707491 501(C)(3) 15000 CHARITABLE CONTRIBUTIONS BRISTOL COUNTY CHAMBER OF COMMERCE 200 POCASSET ST FALL RIVER MA 02721 11000 GENERAL CONTRIBUTIONS COOPERATIVE CREDIT UNION ASSOCIATION 845 DONALD LYNCH BLVD MARLBOROUGH MA 01752 043403594 501(C)(3) 10595 CHARITABLE CONTRIBUTIONS EASCORP 35 CORPORATE DRIVE SUITE 300 BURLINGTON MA 01803 10000 CHARITABLE CONTRIBUTIONS NARRAGANSETT COUNCIL PO BOX 14777 10 RISHO AVENUE EAST PROVIDENCE RI 02914 050308384 501(C)(3) 7500 CHARITABLE CONTRIBUTIONS SOUTHCOAST HEALTH PHILANTHROPY DEPT 101 PAGE STREET NEW BEDFORD MA 02740 042794625 501(C)(3) 10000 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) 11250 CHARITABLE CONTRIBUTIONS UNITED WAY OF GREATER NEW BEDFORD INC 128 UNION ST SUITE 105 NEW BEDFORD MA 02740 042104264 501(C)(3) 14000 CHARITABLE CONTRIBUTIONS SOUTHEASTERN MASS VETERANS HOUSING PROGRAM 344 COUNTY STREET NEW BEDFORD MA 02740 111190035 501(C)(3) 8333 CHARITABLE CONTRIBUTIONS 8 2 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 410558 0 53665 0 0 0 0 0 9334 0 473557 0 0 0 PETER PANAGGIO SVP/CFO 206716 0 18721 0 0 0 0 0 9334 0 234771 0 0 0 CARLOS DACUNHA SVP/CLO 194066 0 0 0 0 0 0 0 9334 0 203400 0 0 0 RICHARD KANE VP COMMERCIAL LENDING 151707 0 0 0 0 0 0 0 5136 0 156843 0 0 0 DEBORAH DION VP INFORMATION SERVICES 164485 0 12608 0 0 0 0 0 10137 0 187230 0 0 0 TIM SOUZA SR. MORTGAGE LOAN OFFICER 204936 0 0 0 0 0 0 0 10895 0 215831 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. TOTAL EXPENSE IN CONNECTION WITH THE AGREEMENT FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018 AMOUNTED TO $0 AND $34,000, RESPECTIVELY. ADVANCED ALARM SYSTEMS KEVIN FITZPATRICK, DIRECTOR 50282 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 -16,726. FORM 990, PART IV, LINE 2C: THERE WAS NO CHANGE IN THE OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR 2019.