ALLTRUST CREDIT UNION: Form 990, tax year 2014
View the entire original 990 at ProPublica ↗
- Organization
- ALLTRUST CREDIT UNION (EIN 04-1853650)
- Tax period
- 2014-01-01 to 2014-12-31
- Filed
- 2015-08-14
- IRS object ID
- 201512269349300921
- Schema version
- 2014v5.0
- 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 | 2015-08-14T07:19:27-07:00 | ReturnTs |
| Tax Period End | 2014-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ROBERT ANDERSON & COMPANY PC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 138 DODGE ST | AddressLine1Txt |
| City | BEVERLY | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 019151866 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2014-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 041853650 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SOUTHERN MASS CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | SOUT | BusinessNameControlTxt |
| Phone | 5089949971 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 123 ALDEN ROAD | AddressLine1Txt |
| City | FAIRHAVEN | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02719 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DANIEL WALTZ | PersonNm |
| Person Title | President & CEO | PersonTitleTxt |
| Signature | 2015-08-14 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Robert Anderson | PreparerPersonNm |
| PTIN | P01462745 | PTIN |
| Phone | 9782329300 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2014 | TaxYr |
| Build TS | 2016-03-07 17:11:31Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $8,021,532 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| All Affiliates Included | false | AllAffiliatesIncludedInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.southernmass.com | WebsiteAddressTxt |
| Activity Or Mission | CREDIT UNION - THRIFT SERVICES | ActivityOrMissionDesc |
| Voting Members Governing Body | 12 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 10 | VotingMembersIndependentCnt |
| Total Employee | 75 | TotalEmployeeCnt |
| Total Volunteers | 10 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $4,732,770 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $4,812,320 | CYProgramServiceRevenueAmt |
| PY Investment Income | $895,953 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,070,955 | CYInvestmentIncomeAmt |
| PY Other Revenue | $855,968 | PYOtherRevenueAmt |
| CY Other Revenue | $2,138,257 | CYOtherRevenueAmt |
| PY Total Revenue | $6,484,691 | PYTotalRevenueAmt |
| CY Total Revenue | $8,021,532 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $3,000 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $5,000 | CYGrantsAndSimilarPaidAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $2,186,440 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $2,527,162 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $3,948,557 | PYOtherExpensesAmt |
| CY Other Expenses | $4,273,210 | CYOtherExpensesAmt |
| PY Total Expenses | $6,137,997 | PYTotalExpensesAmt |
| CY Total Expenses | $6,805,372 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $346,694 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $1,216,160 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $184,808,523 | TotalAssetsBOYAmt |
| Total Assets EOY | $204,354,906 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $165,139,166 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $181,615,188 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $19,669,357 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $22,739,718 | NetAssetsOrFundBalancesEOYAmt |
| Mission | CREDIT UNION - THRIFT SERVICES | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $1,182,849 | ExpenseAmt |
| Desc | MAINTENANCE OF MEMBERS' SHARE AND DEPOSIT ACCOUNTS. NUMBER OF ACCOUNTS IS 27,878. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $5,000 | ExpenseAmt |
| Desc | SCHOLARSHIPS AWARDED TO QUALIFYING APLLICANTS - MEMBERS/MEMBERS' FAMILY. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Revenue | $4,812,320 | RevenueAmt |
| Desc | MAINTENANCE OF MEMBERS' LOAN ACCOUNTS. NUMBER OF ACCOUNTS IS 6,242. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $1,187,849 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | false | DescribedInSection501c3Ind |
| Schedule B Required | false | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Lobbying Activities | false | LobbyingActivitiesInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | Yes (true) | 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 | false | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | false | 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 |
| Invest Tax Exempt Bonds | false | InvestTaxExemptBondsInd |
| Escrow Account | false | EscrowAccountInd |
| On Behalf Of Issuer | false | OnBehalfOfIssuerInd |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | false | PYExcessBenefitTransInd |
| 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 | false | 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 |
| Transaction With Control Ent | false | TransactionWithControlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | false | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| Info In Schedule O Part V | Yes (X) | InfoInScheduleOPartVInd |
| IRP Document | 4924 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 75 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (true) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | false | Form990TFiledInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| DAF Excess Business Holdings | false | DAFExcessBusinessHoldingsInd |
| Taxable Distributions | false | TaxableDistributionsInd |
| Distribution To Donor | false | DistributionToDonorInd |
| Org Filed In Lieu Of Form1041 | false | OrgFiledInLieuOfForm1041Ind |
| Licensed More Than One State | false | LicensedMoreThanOneStateInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 12 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 10 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | Yes (true) | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (true) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (true) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (true) | 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 | Yes (true) | 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 | false | 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 | JAMES TAVARES | PersonNm |
| Phone | 5089949971 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 123 ALDEN ROAD | AddressLine1Txt |
| City | FAIRHAVEN | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 027194733 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (15 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|---|
| DAVID S DARMOFAL | |||||||
| Chairman | 8.00 | 0.00 | Yes (X) | Yes (X) | $10,500 | $0 | $0 |
| ROBERT N FERRETTI | |||||||
| 1ST VICE CHAIR | 4.00 | 0.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| RICHARD E ELLIS | |||||||
| CLERK/TREASURER | 4.00 | 0.00 | Yes (X) | Yes (X) | $2,500 | $0 | $0 |
| MARY ELLEN SILVA | |||||||
| 2ND VICE CHAIR | 4.00 | 0.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| ALFRED J PECCINI | |||||||
| 3RD VICE CHAIR | 4.00 | 0.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| MARK SYLVIA | |||||||
| Director | 4.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| CHARLES MURPHY | |||||||
| Director | 4.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| PAUL SYLVIA | |||||||
| Director | 4.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| SANDRA TYNAN | |||||||
| Director | 4.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| ROBERT WALLACE | |||||||
| Asst ClerkTreas | 4.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| PAMELA BOURGAULT | |||||||
| Director | 4.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| RONALD CORREIA | |||||||
| Director | 4.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| DANIEL WALTZ | |||||||
| President & CEO | 40.00 | 0.00 | Yes (X) | $190,812 | $0 | $6,407 | |
| DEBRA TOWER | |||||||
| VP MEMBER SERV | 40.00 | 0.00 | Yes (X) | $82,982 | $0 | $18,090 | |
| JO-ANN REZENDES | |||||||
| VP OF HR | 40.00 | 0.00 | Yes (X) | $85,994 | $0 | $6,950 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $372,788 | TotalReportableCompFromOrgAmt |
| Total Other Compensation | $31,447 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 1 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (2 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| FISERV | |||||
| 405 SCIENCE DRIVE | MOORPARK | CA | 93021 | DATA PROCESSING | $325,361 |
| DIGITAL INSIGHT | |||||
| 4300 SEAPORT BOULIVARD SUITE 300 | REDWOOD CITY | CA | 94063 | ONLINE BANKING | $146,732 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 2 | CntrctRcvdGreaterThan100KCnt |
| Total Contributions | $0 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| INCOME -REAL ESTATE LOANS | 522291 | $3,746,822 | $3,746,822 |
| INCOME-CONSUMER LOANS | 522291 | $1,065,498 | $1,065,498 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $4,812,320 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,070,955 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $1,070,955 | RelatedOrExemptFuncIncomeAmt |
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 |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
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 (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| GAIN-SJBFCU ACQUISITION | 900099 | $1,253,613 | $1,253,613 |
| OTHER INCOME | 900099 | $432,318 | $432,318 |
| SERVICE CHARGES AND FEES | 900099 | $452,326 | $452,326 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $2,138,257 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $8,021,532 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $8,021,532 | RelatedOrExemptFuncIncomeAmt |
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 | $5,000 | TotalAmt |
| Program Services | $5,000 | ProgramServicesAmt |
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 | $421,735 | TotalAmt |
| Management And General | $421,735 | ManagementAndGeneralAmt |
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 | $1,536,949 | TotalAmt |
| Management And General | $1,536,949 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $66,459 | TotalAmt |
| Management And General | $66,459 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $336,422 | TotalAmt |
| Management And General | $336,422 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $165,597 | TotalAmt |
| Management And General | $165,597 | ManagementAndGeneralAmt |
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 | $7,514 | TotalAmt |
| Management And General | $7,514 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $133,278 | TotalAmt |
| Management And General | $133,278 | ManagementAndGeneralAmt |
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 | $0 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $236,456 | TotalAmt |
| Management And General | $236,456 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $238,381 | TotalAmt |
| Management And General | $238,381 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $410,588 | TotalAmt |
| Management And General | $410,588 | ManagementAndGeneralAmt |
Royalties RoyaltiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $297,463 | TotalAmt |
| Management And General | $297,463 | ManagementAndGeneralAmt |
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 | $76,131 | TotalAmt |
| Management And General | $76,131 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,185,052 | TotalAmt |
| Program Services | $1,182,849 | ProgramServicesAmt |
| Management And General | $2,203 | ManagementAndGeneralAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $374,563 | TotalAmt |
| Management And General | $374,563 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $62,643 | TotalAmt |
| Management And General | $62,643 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|
| ATM EXPENSE | $301,724 | $301,724 |
| LOAN SERVICING | $174,743 | $174,743 |
| MERGER FMV AMORTIZATION | $143,422 | $143,422 |
| PROVISION LOAN LOSS | $135,000 | $135,000 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $496,252 | TotalAmt |
| Management And General | $496,252 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,805,372 | TotalAmt |
| Program Services | $1,187,849 | ProgramServicesAmt |
| Management And General | $5,617,523 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,528,179 | BOYAmt |
| EOY | $2,222,652 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $27,628,302 | BOYAmt |
| EOY | $38,983,276 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,552,755 | BOYAmt |
| EOY | $2,237,019 | EOYAmt |
Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $101,438,606 | BOYAmt |
| EOY | $112,555,931 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $136,003 | BOYAmt |
| EOY | $268,750 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $8,906,235 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $3,774,421 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,523,854 | BOYAmt |
| EOY | $5,131,814 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $41,740,303 | BOYAmt |
| EOY | $37,472,171 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $418,800 | BOYAmt |
| EOY | $491,600 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,841,721 | BOYAmt |
| EOY | $4,991,693 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $184,808,523 | BOYAmt |
| EOY | $204,354,906 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $748,217 | BOYAmt |
| EOY | $837,729 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $259,799 | BOYAmt |
| EOY | $209,172 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $2,541,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $164,131,150 | BOYAmt |
| EOY | $178,027,287 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $165,139,166 | BOYAmt |
| EOY | $181,615,188 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow SFAS117 | Yes (X) | OrgDoesNotFollowSFAS117Ind |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $19,669,357 | BOYAmt |
| EOY | $22,739,718 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $19,669,357 | BOYAmt |
| EOY | $22,739,718 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $184,808,523 | BOYAmt |
| EOY | $204,354,906 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $1,216,160 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $1,854,201 | 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 |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | false | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (true) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,392,538 | OtherCostOrOtherBasisAmt |
| Book Value | $1,392,538 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $5,142,935 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,002,386 | DepreciationAmt |
| Book Value | $3,140,549 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $111,513 | OtherCostOrOtherBasisAmt |
| Depreciation | $15,050 | DepreciationAmt |
| Book Value | $96,463 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,199,707 | OtherCostOrOtherBasisAmt |
| Depreciation | $969,261 | DepreciationAmt |
| Book Value | $230,446 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,059,542 | OtherCostOrOtherBasisAmt |
| Depreciation | $787,724 | DepreciationAmt |
| Book Value | $271,818 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $5,131,814 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| OTHER LIABILITIES | $393,948 |
| SHARES AND DEPOSITS | $177,633,339 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $178,027,287 | TotalLiabilityAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Part IV, Line 2b: Explanation of escrow account liability | FormAndLineReferenceDesc |
| Explanation | MORTGAGE ESCROW ACCOUNTS HELD FOR THE PAYMENT OF REAL ESTATE TAXES FOR MUNICIPALITIES. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Written Policy Ref T And E Expnss | false | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (true) | SubstantiationRequiredInd |
| 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
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DANIEL WALTZ | PersonNm |
| Title | President & CEO | TitleTxt |
| Base Compensation Filing Org | $171,847 | BaseCompensationFilingOrgAmt |
| Bonus Filing Organization | $15,000 | BonusFilingOrganizationAmount |
| Other Compensation Filing Org | $3,965 | OtherCompensationFilingOrgAmt |
| Nontaxable Benefits Filing Org | $6,407 | NontaxableBenefitsFilingOrgAmt |
| Total Compensation Filing Org | $197,219 | TotalCompensationFilingOrgAmt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Part I, Line 1a: Relevant information in regards to selections on 1a. | THERE IS NO SPECIFIC POLICY BUT SPOUSE MAY TRAVEL WITH A DIRECTOR/EMPLOYEE IF APPROVED BY THE BOARD OR SENIOR MANAGEMENT. |
| Part I, Line 1b: Reason for not following policy regarding payment provisions for expenses |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (38 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd | Balance DueBalanceDueAmt |
|---|---|---|---|---|---|---|---|
| ROBERT FERRETTI | |||||||
| DIRECTOR | HELOC | Yes (X) | $100,000 | false | Yes (true) | Yes (true) | |
| RICHARD ELLIS | |||||||
| DIRECTOR | CR CARD | Yes (X) | $10,000 | false | Yes (true) | Yes (true) | |
| DAVID DARMOFAL | |||||||
| DIRECTOR | HELOC | Yes (X) | $150,000 | false | Yes (true) | Yes (true) | $72,931 |
| DAVID DARMOFAL | |||||||
| DIRECTOR | CR CARD | Yes (X) | $6,000 | false | Yes (true) | Yes (true) | |
| RICHARD ELLIS | |||||||
| DIRECTOR | MORTGAGE | Yes (X) | $120,000 | false | Yes (true) | Yes (true) | $93,541 |
| RICHARD ELLIS | |||||||
| DIRECTOR | HELOC | Yes (X) | $150,000 | false | Yes (true) | Yes (true) | $94,200 |
| CHARLES MURPHY | |||||||
| DIRECTOR | BUS LOC | Yes (X) | $25,000 | false | Yes (true) | Yes (true) | |
| WINDWARD POWER | |||||||
| DIRECTOR | BUS LOC | Yes (X) | $100,000 | false | Yes (true) | Yes (true) | |
| RONALD CORREIA | |||||||
| DIRECTOR | HE | Yes (X) | $20,000 | false | Yes (true) | Yes (true) | $15,432 |
| CHARLES MURPHY | |||||||
| DIRECTOR | HELOC | Yes (X) | $85,900 | false | Yes (true) | Yes (true) | $80,144 |
| CHARLES MURPHY | |||||||
| DIRECTOR | MORTGAGE | Yes (X) | $370,000 | false | Yes (true) | Yes (true) | $318,663 |
| MARY ELLEN SILVA | |||||||
| DIRECTOR | ODP | Yes (X) | $3,000 | false | Yes (true) | Yes (true) | $533 |
| MARY ELLEN SILVA | |||||||
| DIRECTOR | HELOC | Yes (X) | $75,000 | false | Yes (true) | Yes (true) | $13,076 |
| ALFRED PECCINI | |||||||
| DIRECTOR | ODP | Yes (X) | $3,000 | false | Yes (true) | Yes (true) | |
| JOANNE REZENDES | |||||||
| OFFICER | HELOC | Yes (X) | $135,000 | false | Yes (true) | Yes (true) | $125,490 |
| MARK SYLVIA | |||||||
| DIRECTOR | FIXED 2ND MORTGAGE | Yes (X) | $18,150 | false | Yes (true) | Yes (true) | $14,674 |
| MARY ELLEN SILVA | |||||||
| DIRECTOR | HELOC | Yes (X) | $71,000 | false | Yes (true) | Yes (true) | $63,198 |
| MARY ELLEN SILVA | |||||||
| DIRECTOR | ODP | Yes (X) | $3,000 | false | Yes (true) | Yes (true) | $213 |
| PAUL SYLVIA | |||||||
| DIRECTOR | HELOC | Yes (X) | $120,000 | false | Yes (true) | Yes (true) | $95,978 |
| DEBRA TOWER | |||||||
| OFFICER | CR CARD | Yes (X) | $15,000 | false | Yes (true) | Yes (true) | $3,542 |
| DEBRA TOWER | |||||||
| OFFICER | ODP | Yes (X) | $3,000 | false | Yes (true) | Yes (true) | |
| DEBRA TOWER | |||||||
| OFFICER | MORTGAGE | Yes (X) | $160,000 | false | Yes (true) | Yes (true) | $137,483 |
| ROBERT WALLACE | |||||||
| DIRECTOR | AUTO | Yes (X) | $27,500 | false | Yes (true) | Yes (true) | $15,698 |
| JOANN REZENDES | |||||||
| DIRECTOR | CR CARD | Yes (X) | $7,500 | false | Yes (true) | Yes (true) | $1,050 |
| SANDY TYNAN | |||||||
| DIRECTOR | HELOC | Yes (X) | $250,000 | false | Yes (true) | Yes (true) | $178,962 |
| SANDY TYNAN | |||||||
| DIRECTOR | ODP | Yes (X) | $3,000 | false | Yes (true) | Yes (true) | $941 |
| SANDY TYNAN | |||||||
| DIRECTOR | MORTGAGE | Yes (X) | $321,000 | false | Yes (true) | Yes (true) | $265,033 |
| DANIEL WALTZ | |||||||
| OFFICER | ODP | Yes (X) | $3,000 | false | Yes (true) | Yes (true) | |
| DANIEL WALTZ | |||||||
| OFFICER | MORTGAGE | Yes (X) | $300,000 | false | Yes (true) | Yes (true) | $277,075 |
| DANIEL WALTZ | |||||||
| OFFICER | AUTO | Yes (X) | $30,000 | false | Yes (true) | Yes (true) | $16,651 |
| PAMELA BOURGAULT | |||||||
| DIRECTOR | MORTGAGE | Yes (X) | $95,000 | false | Yes (true) | Yes (true) | $92,052 |
| ALFRED PECCINI | |||||||
| DIRECTOR | CR CARD | Yes (X) | $5,000 | false | Yes (true) | Yes (true) | |
| DANIEL WALTZ | |||||||
| OFFICER | CR CARD | Yes (X) | $10,000 | false | Yes (true) | Yes (true) | |
| JO-ANN REZENDES | |||||||
| OFFICER | CR CARD | Yes (X) | $7,500 | false | Yes (true) | Yes (true) | |
| LEAST RESISTANCE LLC | |||||||
| DIRECTOR | BUS MTG | Yes (X) | $260,000 | false | Yes (true) | Yes (true) | $242,668 |
| PAUL SYLVIA | |||||||
| DIRECTOR | AUTO | Yes (X) | $17,113 | false | Yes (true) | Yes (true) | $17,113 |
| PAUL SYLVIA | |||||||
| DIRECTOR | CR CARD | Yes (X) | $5,000 | false | Yes (true) | Yes (true) | $678 |
| CHARLES MURPHY | |||||||
| DIRECTOR | CR CARD | Yes (X) | $10,000 | false | Yes (true) | Yes (true) | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $2,237,019 | TotalBalanceDueAmt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (11 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part V, Line 3b: Reason For Not Filing Form 990-T | AN EXTENSION HAS BEEN FILED FOR THE FORM 990T. THE EXTENDED DUE DATE IS NOVEMBER 16, 2015 SUBSEQUENT TO THE AUGUST 15. 2015 EXTENDED DUE DATE FOR THE FORM 990. FORM 990T WILL BE FILED BY THE EXTENDED DUE DATE OF NOVEMBER 16, 2015. |
| Form 990, Part VI, Line 4: Description of Significant Changes to Organizational Documents | At the Southern Mass Credit Union Annual Meeting held on Friday, March 28, 2014, in the lobby of the Credit Unions Main Office, located at 123 Alden Road in Fairhaven, MA, a meeting duly held and called for under the Credit Unions By-Laws for the purpose of conducting business of the Annual Meeting of the Credit Union and for the purpose of amending the Credit Unions By-Laws, the membership approved a change to Article II, Section, 1: Membership and Sphere of Operation, of the Credit Unions By-laws, and on June 25, 2014, the Credit Unions primary regulator, the Massachusetts Commissioner of Banks approved the changes to the Credit Unions By-Laws. The amended and approved Article II, Section 1, of the Credit Unions By-Laws are as follows:ARTICLE II, Section 1:MEMBERSHIP AND SPHERE OF OPERATIONMembership in this corporation is limited to those who are retired employees of, or presently employed by American Telephone & Telegraph Company or the seven divested Bell Companies or their subsidiaries, or the employees of this Credit Union or the families of such members. Any person not eligible for membership may be the holder of a joint account with members of this Credit Union, but only for the purpose of making deposits, purchasing shares or making withdrawals.Also eligible in this membership are persons who live, work, or attend school* in Bristol, Barnstable, Dukes, Nantucket and Plymouth counties in Massachusetts; Bristol and Newport counties in Rhode Island; the Providence County Rhode Island cities and towns of Central Falls, Cranston, Cumberland, East Providence, Johnston, Lincoln, North Providence, North Smithfield, Pawtucket, Providence, Smithfield and Woonsocket; and family members of such persons and organization members. Family members** are defined as persons related to the member by blood**, marriage, or other recognized family relationships in the same household (under the same roof), or if not in the same household, as grandparent, parent, spouse, sibling, child or grandchild.A. The term attend school shall mean enrollment in:Any public, private, independent or religious nursery, preschool, elementary, middle, junior high, high, or preparatory school or academy; Any public, private, independent or religious vocational technical high school; Any public, private, independent or religious agricultural high school; Any public, private, independent, religious, not-for-profit or for-profit community college, institution, college or university for the purpose of pursuing an undergraduate or post-graduate educational degree; Any public, private, independent, religious, not-for-profit or for-profit law or medical school, college or university; Any public, private, independent, religious, not-for-profit or for-profit teachers college; Any public, private, independent, religious, not-for-profit or for-profit post-high school technical school; Any institute for the purpose of training in a new career; Any military academy or school; or Any seminary.B. The terms by blood and family member shall mean:Individuals who are related or identified as husband, wife, spouse, partner, father, mother, son, daughter, brother, sister, uncle, aunt, cousin, nephew, niece, grandfather, grandmother, grandchild, father-in-law, mother-in-law, son-in-law, daughter-in-law, brother-in-law, sister-in-law, stepfather, stepmother, stepson, stepdaughter, stepbrother, stepsister, half-brother or half- sister, adoptive relationships and any person who maintains his or her principal residence in the same household with a member. |
| Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder | Persons who meet the requirements of the organization's field of membership who hold at least one share of the capital. |
| Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body | Each member has a vote at the election of the board of directors. |
| Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders | ANY CHANGES TO THE INCORPORATING DOCUMENTS,I.E. BYLAWS, ARE APPROVED BY THE MEMBERSHIP. |
| Form 990, Part VI, Line 11b: Form 990 Review Process | THE 2013 990 WAS REVIEWED AND APPROVED BY THE AUDIT COMMITTEE ON THURSDAY, JULY 10, 2014 AND BY THE BOARD OF DIRECTORS ON TUESDAY, JULY 15, 2014. THE 2014 990 WILL BE REVIEWED AND APPROVED BY THE AUDIT COMMITTEE PRIOR TO FILING THE RETURN. |
| Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts | OFFICERS, DIRECTORS,AND KEY EMPLOYEES ARE REQUIRED TO DISCLOSE WHEN A POTENTIAL CONFLICT ARISES. ALSO, ANNUALLY, THE CODE OF ETHICS WHICH CONTAINS THE CONFLICT OF INTEREST POLICY IS DISTRIBUTED TO ALL EMPLOYEES AND DIRECTORS WHICH EXPLAINS WHEN TO AND HOW TO REPORT ANY CONFLICTS OF INTEREST. EACH EMPLOYEE AND DIRECTOR MUST SIGN, ACKNOWLEDGING THE RECEIPT AND UNDERSTANDING OF THE POLICY. |
| Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees | THE EXECUTIVE AND PERSONNEL COMMITTEE IN THE FIRST QUARTER OF EACH YEAR, REVIEW THE CEO'S COMPENSATION PACKAGE AND DETERMINE THE TOTAL COMPENSATION FOR THE YEAR WHICH IS RECOMMENDED TO THE BOARD AND APPROVED BY THE BOARD IN FEBRUARY OR MARCH FOR AN EFFECTIVE DATE OF APRIL 1. THE COMMITTEE USUALLY REVIEWS THE CEO'S TOTAL COMPENSATION IN RELATION TO INDUSTRY AVERAGES AND USUALLY REVIEWS A REPORT ON INDUSTRY CREDIT UNION CEO COMPENSATION.AS FOR THE OTHER OFFICERS, THEY ONLY RECEIVE REGULAR EMPLOYEE BENEFITS; THERE ARE NO SUPPLEMENTAL OR SPECIAL COMPENSATION FOR THEM. NO OTHER OFFICER IS COMPENSATED OVER $100,000. ALL OTHER EMPLOYEES OTHER THAN THE CEO HAVE ANNUAL APPRAISALS; THE CEO CONDUCTS AND DOCUMENTS APPRAISALS FOR ALL SENIOR MANAGERS IN A DETAILED WRITTEN REVIEW. THESE EMPLOYEES ARE ELIGIBLE FOR THE BOARD APPROVED PAY RAISES WHICH ARE A PERCENTAGE INCREASE WHICH ARE APPROVED IN MAY OR JUNE FOR EFFECTIVE DATE THE FIRST FULL WEEK OF JULY FOR ALL EMPLOYEES OTHER THAN THE CEO. THE CEO PERIODICALLY REVIEWS THE COMPENSATION OF SENIOR MANAGERS WITH THE CREDIT UNION'S LEAGUE'S COMPENSATION REVIEW OF CREDIT UNION EMPLOYEES IN THE REGION. |
| Form 990, Part VI, Line 19: Other Organization Documents Publicly Available | Information is posted in credit union lobby and available upon request. |
| Other Changes In Net Assets Or Fund Balances - Other Increases | CHANGE IN FAS115- UNREALIZED GAIN/LOSS = $5150 |
| Other Changes In Net Assets Or Fund Balances - Other Increases | EQUITY ACQUIRED IN MERGER = $1849051 |