2019-11-14T14:37:30-06:00 2018-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2018-01-01 472559616 AMERICAN EAGLE FINANCIAL CREDIT UNION AMER 8605695554 333 EAST RIVER DRIVE EAST HARTFORD CT 06108 DEAN MARCHESSAULT PRESIDENT/CEO 8605695554 2019-11-13 1 DOUGLAS J ORTH P01076394 3052328272 64.95.240.2 2019-11-13 13:36:55 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 A7DB26C3BB201601930FCFA0C4651552B54C26A2 2018 2020-03-31 21:24:44Z X DEAN MARCHESSAULT 333 EAST RIVER DRIVE EAST HARTFORD CT 06108 82070367 0 X WWW.AMERICANEAGLE.ORG X 1935 CT AMERICAN EAGLE FINANCIAL CREDIT UNION PROVIDES FINANCIAL SERVICES IN THE FORM OF LOANS AND DEPOSIT PRODUCTS THAT HELP ITS MEMBERSHIP ACHIEVE THEIR FINANCIAL GOALS. 11 11 367 15 112592 0 0 0 65890220 76305127 2492800 2878605 1265779 595253 69648799 79778985 35976 5957 0 0 27386680 29386391 0 0 0 31350222 37383190 58772878 66775538 10875921 13003447 1657050458 1809998115 1506994376 1644839668 150056082 165158447 X OUR MISSION IS TO BE A PROGRESSIVE FINANCIAL INSTITUTION PROVIDING COMPETITIVE PRODUCTS AND SERVICES AND AN OUTSTANDING CONSULTATIVE SERVICE EXPERIENCE THAT SURPASSES MEMBER EXPECTATIONS. 0 0 DURING 2018, AMERICAN EAGLE FINANCIAL CREDIT UNION (AEFCU), A STATE CHARTERED CREDIT UNION LOCATED IN THE STATE OF CONNECTICUT, PROVIDED FINANCIAL SERVICES TO MEMBERS WHO LIVE, WORK, WORSHIP, OR ATTEND SCHOOL IN THE HARTFORD, TOLLAND, NEW HAVEN, AND MIDDLESEX COUNTIES IN CT. AEFCU CONTINUED TO FULFILL ITS EXEMPT STATUS BY PROVIDING CREDIT AT FAIR AND REASONABLE RATES OF INTEREST, OFFERING COMPETITIVE SHARE DEPOSIT PRODUCTS, AND PROVIDING MEMBERS WITH THE OPPORTUNITY TO IMPROVE THEIR ECONOMIC CONDITION. IN 2018, MEMBERSHIP GREW FROM 131,367 TO 144,358 MEMBERS. THERE WERE 17,358 LOANS GRANTED TOTALING $713,958,670. DEPOSITS GREW FROM 261,255 ACCOUNTS TO 282,312 ACCOUNTS FOR A TOTAL INCREASE IN DEPOSITS OF $162,108,233. AEFCU ALSO CONDUCTED SEMINARS FOR ITS MEMBERSHIP THAT RANGED FROM FINANCIAL LITERACY TO FIRST TIME HOME BUYING. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 30169 0 1 367 1 1 1 0 0 0 0 0 0 0 X 11 11 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X JOHN CONANT 8605695522 333 EAST RIVER DRIVE EAST HARTFORD CT 06108 A LISA BURGARELLA DIRECTOR 2.00 X 0 0 0 KENNETH D STEVENSON DIRECTOR 2.00 X 0 0 0 RAYMOND C GANDY DIRECTOR 2.00 X 0 0 0 MICHAEL P DEPASQUALE VICE CHAIRPERSON 3.00 X 0 0 0 ALLISON W BURCH SECRETARY 2.00 X 0 0 0 CATHERINE M BANBURY DIRECTOR 2.00 X 0 0 0 ANGELA BULL DIRECTOR 2.00 X 0 0 0 JOSEPH R CAMPOSEO DIRECTOR 2.00 X 0 0 0 MICHAEL W HAWMAN DIRECTOR 2.00 X 0 0 0 MARK P ALLEN CHAIRPERSON 4.00 X 0 0 0 GERALD BENEDETTO DIRECTOR 2.00 X 0 0 0 D MARCHESSAULT PRESIDENT/CEO 40.00 X 683820 0 14039 J CONANT EVP/CFO 40.00 X 367518 0 29707 T KNOX SVP/COO 40.00 X 412809 0 16814 J EVANS SVP/CIO 40.00 X 282711 0 135202 B KENNEDY SVP/CSO 40.00 X 240367 0 25012 S BUSHNIK SVP/CTO 40.00 X 244096 0 24001 H BRADY SVP/CLO 40.00 X 287189 0 47034 2518510 0 291809 41 0 1 0 CS MARGISON 28 ROUND HILL RD FARMINGTON CT 06032 CONSTRUCTION 8129939 FIS PO BOX 4535 CAROL STREAM IL 60197 COMPUTER EQUIPMENT & SOFTWARE 1931858 RED THREAD 300 EAST RIVER DR EAST HARTFORD CT 06108 GENERAL CONTRACTOR 1220520 PRESIDIO NETWORKED SOLUTIONS 200 GLASTONBURY BLVD GLASTONBURY CT 06033 IT INFRASTRUCTURE SOLUTIONS 1205308 FISERV INC PO BOX 99924 GRAPEVINE TX 76099 SOFTWARE 1109044 43 INCOME ON LOANS 522100 56149892 56149892 FEES/CHARGES/OTHER 522100 20042643 20042643 UNRELATED BUSINESS INCOME 900099 109827 109827 UNRELATED BUSINESS INCOME 524298 2765 2765 76305127 2904024 2904024 2265963 2291382 -25419 -25419 -25419 GAINS ON LOANS 522100 595253 595253 595253 79778985 79666393 112592 0 X 5957 1095084 21284491 974361 4597758 1434697 987663 316178 118983 351167 927310 3198283 4058031 3258824 524362 9389460 180965 2415824 385 PROVISION FOR LOAN LOSS 4030000 LOAN SERVICING EXPENSE 3283233 DEBIT CARD SERVICES 1232089 REPAIRS AND MAINTENANCE 1096811 2013622 66775538 7116215 5311857 181890206 217931880 1406671 495551 19312768 19886726 1357381506 1495129699 1183883 1261577 47954579 19738348 22027812 28216231 39106437 13144292 3777300 2723400 23847660 25896902 1657050458 1809998115 19096311 14833370 20000000 1467898065 1630006298 1506994376 1644839668 X 0 0 0 0 150056082 165158447 150056082 165158447 1657050458 1809998115 X 13003447 2123584 -24666 X X 0 1 X 1 0 2864544 2864544 27420593 10057807 17362786 3869099 748962 3120137 12508994 8882636 3626358 1291349 48943 1242406 28216231 SHARE DRAFTS 291933303 SHARES 393721244 MONEY MARKET 353425161 SHARE AND IRA CERTIFICATS 590926590 1630006298 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE TAX LAWS. THE INCOME TAX TOPIC OF THE FASB ASC CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE INTERPRETATION PROVIDES CRITERIA FOR ASSESSMENT OF INDIVIDUAL TAX POSITIONS AND A PROCESS FOR RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. TAX POSITIONS ARE EVALUATED ON WHETHER THEY MEET THE "MORE LIKELY THAN NOT" STANDARD FOR SUSTAINABILITY ON EXAMINATION BY TAX AUTHORITIES. FEDERAL CREDIT UNIONS ARE TAX-EXEMPT UNDER INTERNAL REVENUE CODE SECTIONS 501(C)(14)(A) AND 501(C)(1)(A)(I). AS SUCH, THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. ADDITIONALLY, NO INTEREST OR PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. 0 THE UNITED WAY OF AMERICA 701 N FAIRFAX STREET ALEXANDRIA VA 22314 131635294 501(C)(3) 5957 BOOK CHARITABLE CONTRIBUTION 1 1 X X X 1 1 X X X X X 0 1 0 D MARCHESSAULT PRESIDENT/CEO 486945 0 196875 0 0 0 8657 0 5382 0 697859 0 0 0 J CONANT EVP/CFO 273541 0 93977 0 0 0 9725 0 19982 0 397225 0 0 0 T KNOX SVP/COO 239832 0 79515 0 93462 0 9676 0 7138 0 429623 0 0 0 J EVANS SVP/CIO 210655 0 72056 0 0 0 126179 0 9023 0 417913 0 0 0 B KENNEDY SVP/CSO 179110 0 61257 0 0 0 6076 0 18936 0 265379 0 0 0 S BUSHNIK SVP/CTO 182322 0 61774 0 0 0 10136 0 13865 0 268097 0 0 0 H BRADY SVP/CLO 214289 0 72900 0 0 0 28000 0 19034 0 334223 0 0 0 PART I, LINE 4B THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS TO THE JOHN C. CONANT, DEAN MARCHESSAULT, HOWARD BRADY, JAMES EVANS, AND BRIAN KENNEDY THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." AT SPECIFIED TIMES, THE PARTICIPANTS MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE UNDERLYING LIFE INSURANCE POLICY TO SUPPLEMENT RETIREMENT INCOME. THESE DRAWS ARE TAX FREE FOR THE PARTICIPANTS. UPON THE PARTICIPANT'S DEATH THE CREDIT UNION RECOVERS ITS PREMIUMS PLUS INTEREST, PLUS KEY-PERSON INSURANCE PROCEEDS. DEAN MARCHESSAULT PRESIDENT/CEO SPLIT DOLLAR X 5130000 5350069 0 1 1 JOHN CONANT EVP/CFO SPLIT DOLLAR X 3330000 3470428 0 1 1 WILLIAM J DOKAS FORMER CEO SPLIT DOLLAR X 8400000 4205778 0 1 1 HOWARD BRADY SVP/CLO SPLIT DOLLAR X 2200000 2252686 0 1 1 JAMES EVANS SVP/CIO SPLIT DOLLAR X 2700000 2764659 0 1 1 BRIAN KENNEDY SVP/CMSO SPLIT DOLLAR X 1800000 1843106 0 1 1 19886726 FORM 990, SCH L, PART II THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." ALTHOUGH THE IRS REQUIRES REPORTING IN PART II AS A LOAN TO AN INTERESTED PARTY, THIS IS NOT AN ACTUAL LOAN. THERE IS NO TRANSFER OF FUNDS TO THE PARTICIPANTS NOR AN OBLIGATION TO REPAY THE FUNDS. INSTEAD THE CREDIT UNION RECOVERS ANY OUTLAYS, PLUS INTEREST, FROM THE UNDERLYING POLICY. THAT IS, THE CREDIT UNION DEPOSITS FUNDS DIRECTLY INTO A LIFE INSURANCE POLICY TO ENSURE REPAYMENT. AT SPECIFIED TIMES, THE PARTICIPANTS MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE POLICY TO SUPPLEMENT RETIREMENT INCOME. THE BORROWINGS ARE MONITORED TO ENSURE THE POLICY WILL PAY A DEATH BENEFIT AT LEAST SUFFICIENT TO COVER THE CREDIT UNION'S OUTLAYS PLUS INTEREST. ANY REMAINING DEATH BENEFITS ARE DIVIDED BETWEEN THE CREDIT UNION AND THE PARTICIPANT'S BENEFICIARIES AS AGREED UPON. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. MEMBERSHIP VOTES AT AN ANNUAL MEETING TO SELECT 3 BOARD MEMBERS EACH YEAR. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11B THE 990 WILL BE GIVEN TO THE BOARD OF DIRECTORS AS AN AGENDA ITEM AND REVIEWED AT THE BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 12C EMPLOYEES, OFFICERS AND DIRECTORS OF THE CREDIT UNION ARE ASKED TO DISCLOSE ALL SHARE AND LOAN ACCOUNTS AT THE CREDIT UNION THAT THEY HAVE AN INTEREST IN ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15 THE CREDIT UNION UTILIZES AN OUTSIDE CONSULTANT TO PERFORM AN INDEPENDENT COMPENSATION SURVEY FOR ALL OFFICER LEVEL POSITIONS EVERY 2 YEARS. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. CONFLICT OF INTEREST POLICY IS NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC VIEWING ON WWW.NCUA.GOV VIA THE QUARTERLY 5300 FILING. FORM 990, PART IX, LINE 24E MISCELLANEOUS 686,722. FRAUD LOSSES 577,112. OTHER LOSSES 560,106. PERSONAL PROPERTY TAX EXPENSE 106,875. OPERATING FEES 82,807. FORM 990, PART XI, LINE 9: NET PENSION GAINS -24,666. - FORM 990, PART XII, LINE 2C: THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. AMERICAN EAGLE FINANCIAL SERVICES LLC 417 MAIN STREET EAST HARTFORD CT 06118 061552551 FINANCIAL CONSULTING SERVICES CT 3766 493116 AMERICAN EAGLE FINANCIAL CU AEF REALTY LLC 333 EAST RIVER DRIVE EAST HARTFORD CT 06108 371864912 PROPERTY MANAGEMENT SERVICES CT 773361 807798 AMERICAN EAGLE FINANCIAL CU