2019-12-17T14:25:19-06:00 2018-12-31 043209238 WALSH & CO 632A MAIN STREET WINCHESTER MA 01890 990 2018-01-01 041294830 EVERETT CREDIT UNION EVER 6173899000 650 BROADWAY EVERETT MA 02149 JANIS CAINES INTERIM CEO 6173899000 2019-12-17 1 MICHAEL J WALSH CPA P00111917 7817210295 2019-12-17 X 73.68.74.33 2019-12-17 15:25:09 ES P 8504BF00B379FBE4D4043D27C74BF71A8E685B43 2F238FF1480BFAC9B2B18A4F409931CE95DA5210 2018 2020-04-17 16:48:07Z X JANIS CAINES 650 BROADWAY EVERETT MA 02149 1447818 0 X WWW.EVERETTCU.ORG X 1926 MA TO PROVIDE CREDIT UNION SERVICES TO ITS MEMBERS. X 9 9 16 0 0 0 6900 0 1589905 1179033 268267 268785 0 0 1865072 1447818 0 0 124351 0 760278 647767 0 0 0 736074 692889 1620703 1340656 244369 107162 48074883 0 41501235 0 6573648 0 TO PROVIDE CREDIT UNION SERVICES TO ITS MEMBERS. 0 0 1340656 1447818 TO PROMOTE THRIFT AMONG ITS MEMBERS BY GIVING THEM AN OPPORTUNITY TO SAVE MONEY IN SMALL AMOUNTS AND OBTAIN LOANS AT MODERATE RATES OF INTEREST AND FOR PURPOSES WHICH PROMISE TO BE BENEFICIAL TO THE BORROWERS (MEMBERS). 1340656 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 16 1 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X X THE ORGANIZATION 6173899000 650 BROADWAY EVERETT MA 02149 ALBERT N SPADAFORA PRESIDENT & CHAIRMAN 3.00 X X 0 0 0 LORRAINE S DANCA VICE CHAIRMAN 3.00 X X 0 0 0 LEONARD S WOLLINS CLERK 3.00 X X 0 0 0 RAOUL GONCALVES DIRECTOR 2.00 X 0 0 0 BARRY RUSSELL DIRECTOR 2.00 X 0 0 0 FREDERICK F FORESTEIRE DIRECTOR 2.00 X 0 0 0 ALFRED JF LATTANZI TREASURER 3.00 X X 0 0 0 THOMAS J BOYLE DIRECTOR 2.00 X 0 0 0 GREG LUCEY DIRECTOR 2.00 X 0 0 0 BARBARA J FRAZIER CHIEF EXECUTIVE OFFICER 40.00 X 201284 0 0 201284 0 0 1 0 1 0 FISERV PO BOX 99924 GRAPEVINE TX 76099 DATA PROCESSING 151917 1 INTEREST ON LOANS 900099 866241 866241 SERVICE CHARGES AND FE 900099 257052 257052 OTHER INCOME 900099 55740 55740 1179033 268785 268785 1447818 1447818 0 0 201284 329519 36716 38651 41597 184929 53680 2982 102622 PROFESSIONAL FEES 244555 LOAN SERVICING EXPENSE 77619 BAD DEBTS 11000 MISCELLANEOUS EXPENSE 8624 6878 1340656 329849 0 1902642 0 0 0 618288 0 0 29781078 0 0 84793 0 0 485222 0 6182182 0 8210737 0 0 0 480092 0 48074883 0 1382674 164560 39954001 41501235 0 X 0 0 6573648 6573648 0 48074883 0 X 107162 -6680810 X 0 0 0 0 0 0 EXPLANATION: PART IV, LINE 2B PART IV, LINE 2B: THE ESCROW ACCOUNTS HOLD AMOUNTS COLLECTED WITH THE MEMBERS' MORTGAGE PAYMENTS THAT ARE TO BE USED TO PAY THOSE MEMBERS' HOMEOWNERS' PROPERTY TAXES WHEN DUE. 0 0 0 BARBARA J FRAZIER CHIEF EXECUTIVE OFFICER 201284 201284 0 0 0 0 0 0 0 0 201284 201284 0 0 0 0 0 0 1 0 0 1 0 EVERETT CREDIT UNION AND MEMBERS PLUS CREDIT UNION HAVE RECEIVED APPROVAL FROM THEIR RESPECTIVE MEMBERSHIPS TO MERGE. 2018-09-30 48099550 COST 042039851 MEMBERS PLUS CREDIT UNION 29 HIGH STREET MEDFORD MA 02155 0 0 0 0 FORM 990, PART XI LINE 9 EVERETT CREDIT UNION AND MEMBERS PLUS CREDIT UNION HAVE RECEIVED APPROVAL FROM THEIR RESPECTIVE MEMBERSHIPS TO MERGE. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNION'S MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IN THE FORM OF CASH DIVIDENDS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, OR AS VACANCIES ARISE, OR OTHERWISE. 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 FORM 990 IS REVIEWED WITH THE ACCOUNTING MANAGER AND VP OF ADMINISTRATION. A COPY OF THE FORM 990 WILL BE PROVIDED TO THE BOARD OF DIRECTORS THROUGH EMAIL BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE POLICY IS DISTRIBUTED AND REVIEWED WITH STAFF AND BOARD OF DIRECTORS ANNUALLY AND IS UPDATED AS NEEDED. FORM 990, PART VI, SECTION B, LINE 15 ECU PARTICIPATES IN THE SALARY SURVEY FACILATED BY THE NEW ENGLAND CREDIT UNION LEAGUE. SENIOR MANAGEMENT RECEIVES AND UTILIZES THE SALARY RANGE DATA PROVIDED FROM THE LEAGUE. THE PERFORMANCE EVALUATIONS ARE ALSO USED IN DETERMINING APPROPRIATE COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENT IS POSTED IN THE MAIN LOBBY. THE STATEMENT OF FINANCIAL CONDITION REPORT IS PROVIDED TO THE MEMBERSHIP AT THE ANNUAL MEETING. FORM 990, PART XI, LINE 9: THE CREDIT UNION MERGED WITH MEMBER PLUS CREDIT UNION, MEDFORD, MASS -6,680,810.