JEANNE DARC CREDIT UNION: Form 990, tax year 2015
View the entire original 990 at ProPublica ↗
- Organization
- JEANNE DARC CREDIT UNION (EIN 04-1231965)
- Tax period
- 2015-01-01 to 2015-12-31
- Filed
- 2016-11-03
- IRS object ID
- 201613089349302026
- Schema version
- 2015v2.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2016-11-03T15:03:25-05:00 | ReturnTs |
| Tax Period End | 2015-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WOLF & COMPANY PC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 99 HIGH STREET 21ST FLOOR | AddressLine1Txt |
| City | BOSTON | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02110 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2015-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 041231965 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Jeanne D'Arc Credit Union | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| In Care Of | % SUSAN HANNIGAN | InCareOfNm |
| Business Name Control | JEAN | BusinessNameControlTxt |
| Phone | 9784525001 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1 TREMONT PLACE | AddressLine1Txt |
| City | Lowell | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01854 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | SUSAN J HANNIGAN | PersonNm |
| Person Title | SVP/CFO | PersonTitleTxt |
| Phone | 9784525001 | PhoneNum |
| Signature | 2016-11-03 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Michael J Rowe CPA | PreparerPersonNm |
| PTIN | P00535831 | PTIN |
| Phone | 6174399700 | PhoneNum |
| Preparation | 2016-11-02 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2015 | TaxYr |
| Build TS | 2017-02-10 21:41:12Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | Susan Hannigan | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1 TREMONT PLACE | AddressLine1Txt |
| City | Lowell | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01854 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $78,373,116 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | www.jdcu.com | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1912 | FormationYr |
| Legal Domicile State | MA | LegalDomicileStateCd |
| Activity Or Mission | JEANNE D'ARC CREDIT UNION IS A FULL SERVICE, MEMBER-OWNED community based credit union. | ActivityOrMissionDesc |
| Voting Members Governing Body | 13 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 12 | VotingMembersIndependentCnt |
| Total Employee | 261 | TotalEmployeeCnt |
| Total Gross UBI | $98,522 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | -$367,771 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $30,597,629 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $36,312,488 | CYProgramServiceRevenueAmt |
| PY Investment Income | $4,712,048 | PYInvestmentIncomeAmt |
| CY Investment Income | $3,291,087 | CYInvestmentIncomeAmt |
| PY Other Revenue | $8,065,762 | PYOtherRevenueAmt |
| CY Other Revenue | $8,410,266 | CYOtherRevenueAmt |
| PY Total Revenue | $43,375,439 | PYTotalRevenueAmt |
| CY Total Revenue | $48,013,841 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $15,024,698 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $14,388,794 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $23,382,272 | PYOtherExpensesAmt |
| CY Other Expenses | $29,440,475 | CYOtherExpensesAmt |
| PY Total Expenses | $38,406,970 | PYTotalExpensesAmt |
| CY Total Expenses | $43,829,269 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $4,968,469 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $4,184,572 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,089,633,441 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,173,428,666 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $999,905,566 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $1,079,788,216 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $89,727,875 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $93,640,450 | NetAssetsOrFundBalancesEOYAmt |
| Mission | Jeanne DArc Credit Union is the third oldest credit union in the United States and the second oldest in Massachusetts. We officially opened our doors in 1912 to provide financial stability to immigrants who came to Lowell from all over the world to work in the textile mills during the Industrial Revolution. Our Mission is simple: To help our members make smart financial choices. To achieve our mission, we incorporate the right mix of financial products and services, along with a strong financial education program that offers free workshops and seminars so members can put their financial plans into action. Through our educational site, MoneyStrong.org, we provide basic skills, information and the resources necessary for our members to increase their financial knowledge. Social responsibility is an integral part of Jeanne DArcs culture. Our employees spend countless hours assisting those in our communities who are less fortunate by gathering donations, serving food at local shelters, rep | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Desc | Jeanne D'Arc Credit Union is the third oldest credit union in the country founded in Lowell Massachusetts in 1912. It currently has 73,120 members who have $997 million in deposit accounts & loans outstanding of $912 million. | Desc |
| Described In Section501c3 | false | DescribedInSection501c3Ind |
| Schedule B Required | false | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Temp Or Permanent Endowments | false | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (true) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | false | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Loan Outstanding | Yes (true) | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | Yes (true) | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | false | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 102676 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 261 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (true) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (true) | Form990TFiledInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 13 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 12 | IndependentVotingMemberCnt |
| Family Or Business Rln | Yes (true) | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (true) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (true) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | false | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | Yes (true) | LocalChaptersInd |
| Policies Reference Chapters | Yes (true) | PoliciesReferenceChaptersInd |
| Form990 Provided To Gvrn Body | false | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (true) | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | SUSAN HANNIGAN | PersonNm |
| Phone | 9784525001 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | JEANNE DARC CU 1 TREMONT PLACE | AddressLine1Txt |
| City | LOWELL | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01854 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (24 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd |
|---|---|---|---|---|---|---|---|---|---|---|
| John Chemaly | ||||||||||
| Director | 1.0 | 0.0 | Yes (X) | $4,245 | $0 | $0 | ||||
| Mark Cochran | ||||||||||
| President/CEO/Director | 40.0 | 0.0 | Yes (X) | $556,994 | $0 | $46,332 | Yes (X) | |||
| George Eliades | ||||||||||
| Vice Chariman | 1.0 | 0.0 | Yes (X) | $4,196 | $0 | $0 | ||||
| Henri Marchand | ||||||||||
| Director | 1.0 | 0.0 | Yes (X) | $4,245 | $0 | $0 | ||||
| Carol McDonough | ||||||||||
| Director | 1.0 | 0.0 | Yes (X) | $4,196 | $0 | $0 | ||||
| Dorcas Grigg Satio | ||||||||||
| Director | 1.0 | 0.0 | Yes (X) | $4,196 | $0 | $0 | ||||
| Ellen Murphy Meehan | ||||||||||
| Director | 1.0 | 0.0 | Yes (X) | $4,295 | $0 | $0 | ||||
| William Soucy | ||||||||||
| Director | 1.0 | 0.0 | Yes (X) | $4,245 | $0 | $0 | ||||
| Richard Viau | ||||||||||
| Chairman of the Board | 1.0 | 0.0 | Yes (X) | $4,196 | $0 | $0 | ||||
| Naomi Prendergast | ||||||||||
| Director | 1.0 | 0.0 | Yes (X) | $4,295 | $0 | $0 | ||||
| Susan Green | ||||||||||
| Director | 1.0 | 0.0 | Yes (X) | $4,295 | $0 | $0 | ||||
| Mark Dionne | ||||||||||
| Director | 1.0 | 0.0 | Yes (X) | $1,170 | $0 | $0 | ||||
| Joanne Yestramski | ||||||||||
| Director | 1.0 | 0.0 | Yes (X) | $4,245 | $0 | $0 | ||||
| Scott Flagg | ||||||||||
| Senior VP Member Services | 40.0 | 0.0 | $199,006 | $0 | $30,492 | Yes (X) | ||||
| Michelle Silveira | ||||||||||
| Senior VP Marketing | 40.0 | 0.0 | $213,469 | $0 | $32,272 | Yes (X) | ||||
| Brian Sousa | ||||||||||
| Senior Vice President CLO | 40.0 | 0.0 | $342,505 | $0 | $36,372 | Yes (X) | ||||
| Susan Hannigan | ||||||||||
| Senior Vice President CFO | 40.0 | 0.0 | $239,332 | $0 | $4,153 | Yes (X) | ||||
| Carolyn Pelletier | ||||||||||
| senior vice president CIO | 40.0 | 0.0 | $173,090 | $0 | $20,590 | Yes (X) | ||||
| Michael P Dubuque | ||||||||||
| VP of market development | 40.0 | 0.0 | $332,822 | $0 | $35,172 | Yes (X) | ||||
| HEATH MINK | ||||||||||
| Senior Loan Officer | 40.0 | 0.0 | $381,349 | $0 | $11,837 | Yes (X) | ||||
| DANA ROSENBLATT | ||||||||||
| Senior Loan Officer | 40.0 | 0.0 | $355,585 | $0 | $19,069 | Yes (X) | ||||
| KEVIN MCGOFF | ||||||||||
| Senior Loan Officer | 40.0 | 0.0 | $359,777 | $0 | $3,438 | Yes (X) | ||||
| JAMES HIRBOUR | ||||||||||
| Senior Loan Officer | 40.0 | 0.0 | $355,568 | $0 | $19,828 | Yes (X) | ||||
| Peter Boyle | ||||||||||
| Former SVP CIO | 0.0 | 0.0 | $184,954 | $0 | $17,433 | Yes (X) | ||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $3,742,270 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $276,988 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 28 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | Yes (true) | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| ENO BOULAY MARTIN | |||||
| 21 GEORGE STREET | LOWELL | MA | 01852 | LEGAL SERVICES | $496,306 |
| TREMONT YARD | |||||
| 5 DICK TRACY DRIVE | PELHAM | NH | 03076 | Property management | $1,189,107 |
| FIDELITY INFO SERVICES | |||||
| PO BOX 4535 | CAROL STREAM | IL | 60197 | banking software | $1,301,910 |
| Harvard Pilgrim Health | |||||
| PO Box 97050 | BOSTON | MA | 02297 | insurance services | $1,402,401 |
| Digital Insight | |||||
| PO BOX 515306 | LOS ANGELES | CA | 90051 | banking innovations | $947,208 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 36 | CntrctRcvdGreaterThan100KCnt |
| Total Contributions | $0 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | INTEREST INCOME | Desc |
| Total Revenue Column | $36,312,488 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $36,312,488 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $36,312,488 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,035,837 | TotalRevenueColumnAmt |
| Exclusion | $2,035,837 | ExclusionAmt |
Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
| Personal | $0 | PersonalAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $30,000,000 | SecuritiesAmt |
| Other | $1,614,525 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $30,359,275 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -$359,275 | SecuritiesAmt |
| Other | $1,614,525 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,255,250 | TotalRevenueColumnAmt |
| Exclusion | $1,255,250 | ExclusionAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Net Income From Gaming NetIncomeFromGamingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| FEE INCOME | 522100 | $8,403,151 | $8,311,744 | $91,407 |
| PARTNERSHIP INVESTMENTS | 525990 | $7,115 | $7,115 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $8,410,266 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $48,013,841 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $44,624,232 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $98,522 | UnrelatedBusinessRevenueAmt |
| Exclusion | $3,291,087 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Foreign Grants ForeignGrantsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,772,218 | TotalAmt |
Comp Disqual Persons CompDisqualPersonsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,614,473 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $544,312 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,498,386 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $959,405 | TotalAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $159,660 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $514,007 | TotalAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,348,987 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,458,531 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,195,401 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,820,068 | TotalAmt |
Royalties RoyaltiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,532,871 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Pymt Travel Entrtnmnt Pub Ofcl PymtTravelEntrtnmntPubOfclGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $134,406 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,167,545 | TotalAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,521,765 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $431,809 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| EQUIPMENT MAINTENANCE | $1,065,574 |
| PROVISION FOR LOAN LOSSES | $5,901,228 |
| CREDIT CARD PROCESSING FEES | $1,260,891 |
| LOAN SERVICING | $304,822 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $622,910 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $43,829,269 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,165,564 | BOYAmt |
| EOY | $5,294,775 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $60,572,651 | BOYAmt |
| EOY | $44,559,159 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $749,647,591 | BOYAmt |
| EOY | $912,675,834 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,087,982 | BOYAmt |
| EOY | $1,709,756 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $32,138,447 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $14,710,333 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,255,156 | BOYAmt |
| EOY | $17,428,114 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $208,235,598 | BOYAmt |
| EOY | $160,922,702 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,217,301 | BOYAmt |
| EOY | $10,715,200 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,451,598 | BOYAmt |
| EOY | $20,123,126 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,089,633,441 | BOYAmt |
| EOY | $1,173,428,666 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,787,289 | BOYAmt |
| EOY | $6,209,541 | EOYAmt |
Grants Payable GrantsPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Loans From Officers Directors LoansFromOfficersDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $75,000,000 | BOYAmt |
| EOY | $75,000,000 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $917,118,277 | BOYAmt |
| EOY | $998,578,675 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $999,905,566 | BOYAmt |
| EOY | $1,079,788,216 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow SFAS117 | Yes (X) | OrgDoesNotFollowSFAS117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,000,000 | BOYAmt |
| EOY | $16,000,000 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $73,727,875 | BOYAmt |
| EOY | $77,640,450 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $89,727,875 | BOYAmt |
| EOY | $93,640,450 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,089,633,441 | BOYAmt |
| EOY | $1,173,428,666 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $4,184,572 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$340,458 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $68,461 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Art Public Exhibition Amounts | ArtPublicExhibitionAmountsGrp | |
| Held Works Art | HeldWorksArtGrp | |
| CY Minus3 Yr Endwmt Fund | CYMinus3YrEndwmtFundGrp | |
| CY Minus4 Yr Endwmt Fund | CYMinus4YrEndwmtFundGrp |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,289,567 | OtherCostOrOtherBasisAmt |
| Book Value | $4,289,567 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $9,890,776 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,826,117 | DepreciationAmt |
| Book Value | $7,064,659 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $6,894,473 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,957,512 | DepreciationAmt |
| Book Value | $2,936,961 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,009,299 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,898,032 | DepreciationAmt |
| Book Value | $111,268 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $8,054,332 | OtherCostOrOtherBasisAmt |
| Depreciation | $5,028,673 | DepreciationAmt |
| Book Value | $3,025,659 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $17,428,114 | TotalBookValueLandBuildingsAmt |
| Federal Income Tax Liability | $0 | FederalIncomeTaxLiabilityAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | DEPOSITS & OTHER LIABILITIES | Desc |
| Amt | $998,578,675 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $998,578,675 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $47,256,000 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | -$825,762 | NetUnrealizedGainsInvstAmt |
| Other Revenue | $67,921 | OtherRevenueAmt |
| Revenue Not Reported | -$757,841 | RevenueNotReportedAmt |
| Revenue Subtotal | $48,013,841 | RevenueSubtotalAmt |
| Total Revenue Per Form990 | $48,013,841 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $43,829,000 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | -$269 | OtherExpensesIncludedAmt |
| Expenses Not Reported | -$269 | ExpensesNotReportedAmt |
| Expenses Subtotal | $43,829,269 | ExpensesSubtotalAmt |
| Total Expenses Per Form990 | $43,829,269 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule D, Part XI, line 2d: | Deferred Compensation 68,461 Rounding adjustment (540) -------- total 67,921 |
| Schedule D, Part XI, line 2d: | Rounding adjustment (269) |
| Schedule D, Part X, Line 2 - Uncertain tax positions: | The Credit Union is exempt under IRC 501(c)(14), from federal and state income taxes. Certain products and services provided by select state chartered credit unions have been deemed by the Internal Revenue Service (IRS), in technical advice memorandums (TAMs) released in 2007, to be unrelated to the specific entity's exempt purpose. As presented in the technical advice memorandums, the net taxable income from these products and services would be subject to income taxes. Credit Unions have litigated against the IRS positions noted in the TAMs and have been successful in having courts declare in 2009 and 2010 that revenue from insurance products sold to members, helping them protect their financial wellbeing, qualifies as exempt purpose income, contrary to the IRS position in the TAMs. The Credit Union filed its annual 990 tax return for 2014, which indicates that Credit Union had no unrealized business income tax. The taxing authorities have the ability to assess taxes, penalties and interest for any years for which no tax return was filed. In the opinion of management, any liability resulting from taxing authorities imposing income taxes on the net taxable income from activities potentially deemed to be unrelated to the Credit Union's exempt purpose is not expected to have a material effect on the Credit Union's financial position or result of operations. The Credit Union evaluated its tax positions and determined no uncertain tax positions exist as of December 31, 2015 and 2014. The credit Union's 2012 through 2015 tax years are open for examination by federal and state taxing authorities. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Written Policy Ref T And E Expnss | Yes (true) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (true) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (true) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (12 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Peter Boyle | ||||||||||||||
| Former SVP CIO | $172,371 | $0 | $0 | $0 | $12,583 | $0 | $17,433 | $0 | $0 | $0 | $202,387 | $0 | $0 | $0 |
| Mark Cochran | ||||||||||||||
| President/CEO/Director | $536,421 | $0 | $0 | $0 | $20,573 | $0 | $32,751 | $0 | $13,581 | $0 | $603,326 | $0 | $0 | $0 |
| Scott Flagg | ||||||||||||||
| Senior VP Member Services | $183,297 | $0 | $0 | $0 | $15,709 | $0 | $16,911 | $0 | $13,581 | $0 | $229,498 | $0 | $0 | $0 |
| Michelle Silveira | ||||||||||||||
| Senior VP Marketing | $198,823 | $0 | $0 | $0 | $14,646 | $0 | $18,691 | $0 | $13,581 | $0 | $245,741 | $0 | $0 | $0 |
| Michael P Dubuque | ||||||||||||||
| VP of market development | $330,283 | $0 | $0 | $0 | $2,539 | $0 | $21,591 | $0 | $13,581 | $0 | $367,994 | $0 | $0 | $0 |
| HEATH MINK | ||||||||||||||
| Senior Loan Officer | $380,116 | $0 | $0 | $0 | $1,233 | $0 | $5,010 | $0 | $6,827 | $0 | $393,186 | $0 | $0 | $0 |
| DANA ROSENBLATT | ||||||||||||||
| Senior Loan Officer | $354,345 | $0 | $0 | $0 | $1,240 | $0 | $5,488 | $0 | $13,581 | $0 | $374,654 | $0 | $0 | $0 |
| Brian Sousa | ||||||||||||||
| Senior Vice President CLO | $330,337 | $0 | $0 | $0 | $12,168 | $0 | $22,791 | $0 | $13,581 | $0 | $378,877 | $0 | $0 | $0 |
| KEVIN MCGOFF | ||||||||||||||
| Senior Loan Officer | $358,544 | $0 | $0 | $0 | $1,233 | $0 | $2,402 | $0 | $1,036 | $0 | $363,215 | $0 | $0 | $0 |
| Susan Hannigan | ||||||||||||||
| Senior Vice President CFO | $224,508 | $0 | $0 | $0 | $14,824 | $0 | $3,117 | $0 | $1,036 | $0 | $243,485 | $0 | $0 | $0 |
| Carolyn Pelletier | ||||||||||||||
| senior vice president CIO | $158,490 | $0 | $0 | $0 | $14,600 | $0 | $12,102 | $0 | $8,488 | $0 | $193,680 | $0 | $0 | $0 |
| JAMES HIRBOUR | ||||||||||||||
| Senior Loan Officer | $354,335 | $0 | $0 | $0 | $1,233 | $0 | $6,247 | $0 | $13,581 | $0 | $375,396 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE J, PART I, LINE 1A - Travel for Compianions | Spouses or guests are welcome to accompany directors, but is limited to no more than two times per calendar year. Spouse or guest expenses which are reimbursable include, but are not limited to air travel, meals, and organized entertainment such as event dinners, golf outings or other conference related outings. Spouse and guest travel expenses may not exceed $1,200 per year. Spouse or guest expenses which are not reimbursable include, but are not limited to separate lodging or non-conference related personal expenses. |
| SCHEDULE J, PART I, LINE 4b - Nonqualified Retirement Plan | The Credit Union has a non-qualified deferred compensation plan (section 457(f)) with a member of executive management. Under the terms of the plan, the participant is entitled to the earnings and appreciation on the deferred compensation plan's benchmarking investments. The investments are presented at fair value as part of other assets on the Statements of Financial Condition. At years ending December 31, 2015 and 2014, the Credit Union's liability amounted to $815K and $542K, respectively. |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp (2 entries)
| Relationship DescriptionRelationshipDescriptionTxt | TransactionTransactionAmt | TransactionTransactionDesc | Sharing Of RevenuesSharingOfRevenuesInd |
|---|---|---|---|
| William Soucy | |||
| Dir, owner of CU's buildg | $1,189,107 | Rental | false |
| William Soucy | |||
| Dir, Pres. of Construtor | $84,470 | construction | false |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE L PART II - Officer & Director Loans | Some of the officers and directors have loans outstanding with the credit union. These loans were obtained in the normal course of business of the credit union with the same terms and conditions available to all members. As per instructions for schedule l, these loans are not to be listed on schedule L. |
| SCHEUDLE L PART IV - Related Party Transaction | Tremont Yard LLC, single member LLC ownned by Director Soucy owns the building which the credit union leases and houses its administrative and back-office staff. Director Soucy excused himself for all Board of Director discussing regarding the decision to enter into the lease for the building. Additionally, a third-party commercial real estate firm, National Commercial Brokers, Inc. conducted a market survey for the credit union to ensure the credit union was paying a fair market lease rate and other pertinent conditions. Finally, the office of the Commissioner of Banks of Massachusetts reviewed the business transaction and had no negative comments on the transaction and approved the expenditure of funds. Director Soucy is the president of Soucy Industries which the Credit Union conducted ordinary business with during 2015. director Soucy excused himself from all board of director discussions regarding the decision of selection of a building contractor for the credit union. |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (7 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PAGE 6 PART VI SECTION B LINE 11 - BOARD REVIEW OF FORM 990 | The Board of Directors has delegated authority for the review of the Form 990 to the Chief Financial Officer (CFO). The CFO engages the services of an independent accounting firm for the preparation of the Form 990. Upon completion, the Form 990 is reviewed by the CFO, signed by the CFO, and filed with the IRS. |
| PAGE 6 PART VI SECTION B LINE 12C - WRITTEN CONFLICT OF INTEREST | Each year the Code of Ethics, which incorporates the Conflict of Interest Policy, is updated and ratified by the Board of Directors. The Code of Ethics pertains to employees as well as the Board of Directors. Annually, all employees and Board Members sign an acknowledgement that they have received and read the Code of Ethics. Further, all employees and Board Members must identify, in writing, all deposits and loan accounts in which they have a related interest. Loans granted to senior management, Directors, or their related parties must be approved by the Board. If the loan is for a Board Member or his/her related interest, the Board Member is recused from the vote. |
| PAGE 6 PART VI SECTION B LINES 15 A & B | Board review of Officer Compensation The credit union's Board of Directors assigns responsibility to the Board's Personnel Committee for the preparation of a verbal performance evaluation of the credit union's President. The Personnel Committee is comprised of independent directors. The Personnel Committee will then present the written evaluation to the full board, along with a recommendation for compensation. The compensation level is based on a combination of the President's perceived value to the credit union and job performance. Based on the Personnel Committee's recommendation, the full Board approves the President's compensation. For members of senior management, written performance evaluations are prepared by the President and reviewed with the Board's Chairman. No other Board Directors are involved in the compensation discussions for senior management. Compensation is based on the value to the credit union and job performance. |
| PAGE 6 PART VI SECTION C LINE 19 - Availability of goverance documents | The credit union's Bylaws, Code of Ethics, Conflict of Interest Policy, etc. are available for inspection at the credit union's annual meeting or available at anytime upon a member's request. The credit union's Privacy Policy is mailed to each member annually. The credit union's Call Report (5300) data is available to the general public via the NCUA's website. |
| PAGE 12 PART XII LINES 2B & 2C - Financial statement audit review | THE JEANNE D'ARC CREDIT UNION STATEMENTS ARE AUDITED BY CliftonLarsonAllen LLP, A CERTIFIED PUBLIC ACCOUNTING FIRM. THE FINANCIAL STATEMENT YEAR END IS DECEMBER 31st. THE JEANNE D'ARC CREDIT UNION BY-LAWS REQUIRE An audit COMMITTEE MADE UP OF BOARD MEMBERS TO REVIEW THE AUDITed FINANCIAL STATEMENTS AND ASSURE THAT ANY FINDINGS BY THE AUDITORS ARE IMPLEMENTED. |
| PAGE 6 PART VI SECTION A LINES 6 7A - Members | Jeanne D'Arc Credit Union Membership is available to anyone who lives, works, or attends school in Middlesex or Essex counties, the cities or towns of Fitchburg, Leominster, Harvard, Lunenburg or Lancaster, or the New Hampshire counties of Hillsborough or Rockingham. The members vote for the board of directors at the Annual meeting and vote on any business brought before them at the annual meeting. |
| page 12 part xi line 9 | Deferred Compensation 68,461 |