2015-08-21T06:43:40-05:00 2014-12-31 WOLF & COMPANY PC 99 HIGH STREET 21ST FLOOR BOSTON MA 02110 990 2014-01-01 042128094 St Anne's Credit Union of Fall River % ROBERT CAMARA CFO STAN 5083247300 286 Oliver Street Suite Fall River MA 027242998 Robert J Camara SVP/CFO 5083247300 2015-08-20 true Michael J Rowe CPA P00535831 6174399700 2015-08-20 2014 2016-03-07 17:11:31Z Robert Camara 286 Oliver Street Fall River MA 027242998 56440074 false X N/A X 1935 MA ST ANNES CREDIT UNION MISSION IS TO PROVIDE A SOUND, CHECKING, SAVINGS, INVESTMENTS AND RETIREMENT ACCOUNTS, WITH OUR WIDE SELECTION OF HOME FINANCING PROGRAMS. 12 9 238 9 0 0 0 21211124 21840796 2580340 2240151 4053718 4074568 27845182 28155515 0 0 0 0 9906955 10233414 0 0 0 16024988 15309510 25931943 25542924 1913239 2612591 821973826 835105583 746607662 756824913 75366164 78280670 ST ANNE'S CREDIT UNION'S MISSION IS TO PROVIDE A SOUND, SAFE PLACE FOR CHECKING, SAVINGS, INVESTMENTS AND RETIREMENT ACCOUNTS, WITH OUR WIDE SELECTION OF HOME FINANCING PROGRAMS, ST. ANNE'S CREDIT UNION IS THE NUMBER ONE CREDIT UNION MORTGAGE LENDER IN BRISTOL COUNTY. WE ALSO PROVIDE FIANANCING FOR NEW AND USED CARS, TRUCKS, AND VANS, HIGHER EDUCATION, MAJOR PURCHASES, HOME IMPROVEMENTS, AND MORE. ST. ANNE'S CREDIT UNION IS A LOCAL FINANCIAL INSTITUTION WITH DEEP ROOTS IN THE AREA AND SINCERELY CARES ABOUT OUR MEMBERS WHO ARE OUR OWNERS. false false St. Anne's Credit Union is a Cooperative Owned, directed by, and dedicated to its members. At the end of 2014, The Credit Union had $700 Million share accounts, $631 Million in loans to members false false false false false false false true false true false false false true false true false false false false false false false false false false false false true false true false false false false false false false false false false false false true 24337 0 true 238 true false false false false false false X 12 9 false false false false true true true true true false false false true true true true true true false false X ROBERT CAMARA CFO 5083247300 286 OLIVER STREET FALL RIVER MA 027242998 ALBERT MERCIER director 1.0 0.0 X 0 0 4701 BERNARD G THEROUX DIRECTOR 1.0 0.0 X 0 0 46 WILLIAM R BOUCHARD Chairman of the board 1.0 0.0 X 19396 0 3115 ARTHUR L MIRANDA DIRECTOR 1.0 0.0 X 0 0 2513 JOSEPH R J CASTONGUAY DIRECTOR 1.0 0.0 X 0 0 4566 JOSEPH V BENEVIDES JR DIRECTOR 1.0 0.0 X 258 0 5047 ANTHONY G D'ADAMO DIRECTOR 1.0 0.0 X 0 0 4673 BRUCE E FERNANDES DIRECTOR 1.0 0.0 X 258 0 5047 SIMONE GARANT Director\treasurer\Clerk 1.0 0.0 X X 12750 0 3740 JOHN R LEDWIDGE vice Chairman of board 1.0 0.0 X 15430 0 18062 COLLEEN BRADY O'NEIL DIRECTOR 1.0 0.0 X 90 0 4999 BERNARD J MCDONALD III DIRECTOR 1.0 0.0 X 92 0 2087 ROSS R UPTON PRESIDENT/CEO 40.0 0.0 X 364665 0 193655 Michelle Marcos VP Human Resources 40.0 0.0 X 86963 0 14159 PAULETTE J SWEENEY Auditor 40.0 0.0 X 42480 0 6850 RICHARD BEAULIEU VICE PRESIDENT 40.0 0.0 X 88001 0 14155 John Caliguri Senior Vice Lending 40.0 0.0 X 167613 0 14930 Robert J Camara Chief Financial Officer 40.0 0.0 X 169415 0 14930 Gerald F Rego VP Commercial Lending 40.0 0.0 X 131437 0 14528 Maureen Terranova VP Information Systems 40.0 0.0 X 107676 0 13553 Rico A Conforti Loan Originator 40.0 0.0 X 121065 0 7072 Jean Correia Loan Originator 40.0 0.0 X 111407 0 14707 Martin E Treadup Loan Originator 40.0 0.0 X 132500 0 1255 1571496 0 368390 8 false true false COLLINS CONSTRUCTION CO INC 33 SWINDELLS ST FALL RIVER MA 02723 CONSTRUCTION 265950 JOHN C FARRISSEY ASSOCIATES 942 COUNTY ST SOMERSET MA 02726 LEGAL SERVICES 570587 SUNDIN ASSOCIATES INC 34 MAIN STREET 3RD FLOOR NATICK MA 01760 MARKETING 635753 FISERV INC 255 FISERV DRIVE BROOKFIELD WI 53045 TECHNOLOGY SOLUTIONS 216249 Red Hawk Fire Security PO BOX 677671 DALLAS TX 75267 equip & maintenance 192704 15 0 MEMBER LOAN INTEREST 21840796 21840796 21840796 1466862 1466862 0 0 4800 0 4800 4800 4800 28318894 738954 28284559 34335 738954 773289 773289 0 0 0 OTHER LOAN FEES 2063636 2063636 NOW/CHECKING 1768176 1768176 SAFE DEPOSIT FEES 104505 104505 133451 133451 4069768 28155515 25910564 2244951 0 0 0 0 1206526 0 6158178 615773 1611803 641134 0 288568 155765 0 0 0 432003 1212793 1039723 2208026 0 1620011 47718 0 99580 4144983 0 1395764 96604 ATM & BANK CHARGES 995916 LOAN LOSS PROVISION 600000 OREO EXPENSES 149876 LOAN EXPENSES 122964 699216 25542924 5708517 5137698 31520334 36873105 0 0 0 0 0 0 0 0 590295873 630958382 0 0 387756 357016 27637604 13205486 14107622 14432118 163905086 130256871 0 0 0 0 0 0 16048638 17090393 821973826 835105583 818962 1518129 0 0 0 0 0 0 1696361 1945478 0 0 0 0 0 0 744092339 753361306 746607662 756824913 X 0 0 0 0 75366164 78280670 75366164 78280670 821973826 835105583 X 2612591 619552 -317637 X false true X true false true 0 3706096 3706096 0 16006544 7661225 8345319 0 1651237 903753 747484 0 3067952 2532428 535524 0 3205775 2108080 1097695 14432118 0 CREDIT UNION MEMBER DEPOSITS 699875829 FNMA CUSTODIAL 210732 OTHER LIABILITIES 136245 FHLB ADVANCES 53138500 753361306 28150715 28150715 4800 4800 28155515 25538124 25538124 4800 4800 25542924 SCHEDULE D PAGE 4 PART XI LINE 4B - Reclass of rental income For 990 reporting purposes, income from rents which is reported as an adjustment to related occupancy expenses for audit purposes is reclassed to income. $4,800 SCHEDULE D PAGE 4 PART XII LINE 2D - Reclass of rental income For 990 reporting purposes, income from rents which is reported as an adjustment to related occupancy expenses for audit purposes is reclassed to income. $4,800 SCHEDULE D PART IV LINE 2(B) - Escrow accounts St. Anne's Credit Union as part of loan operations collects payments from borrowers to be held in escrow to pay real estate taxes and home owners insurance premiums. X true true X X false true false ROSS R UPTON PRESIDENT/CEO 357165 0 0 0 7500 0 178729 0 14926 0 558320 0 0 0 John Caliguri Senior Vice Lending 167613 0 0 0 0 0 0 0 14930 0 182543 0 0 0 Robert J Camara Chief Financial Officer 169415 0 0 0 0 0 0 0 14930 0 184345 0 0 0 Schedule J Page 1 Part I Line 4B - 457 plans The Credit Union has a supplemental retirement agreement with the CEO, which provides for payments upon attaining the retirement age noted in the agreement. A portion of the retirement benefits, as defined in the agreement, is accrued by charges to compensation expense over the CEOs term of employment taking into consideration vesting. Total expense in connection with the agreement for the years ended December 31, 2014 and 2013 amounted to $178,729 and $160,563, respectively. Loans to Officers and Directors and their affiliates In the ordinary course of business, the credit union has granted loans to officers and directors and their affiliates. such loans amounted to $1,330,000 and $1,375,000 at December 31, 2014, and 2013, respectively. Part IV, Line 26 - Officer Loans Some of the officers and directors have loans outstanding with the Credit Union. Theses loans were made in the ordinary course of business of the Credit Union on the same terms available to all members. Part VI, Section A, Lines 6, 7A, & 7B - Members Line 6 - The credit union is a members only credit union accepting members from Greater Fall River, Bristol, Plymouth or Barnstable Counties. Line 7a & 7b - The members vote for the board of directors at the annual meeting and for all business presented at the annual meeting Part VI, Section B, Line 11 - Reviiew of From 990 The Board of Directors has delegated the responsibility to review approve and sign the Form 990 to the CEO or CFO. The board is provided a copy of the 990 upon request. Part VI, Section B, Lines 12A, 12B & 12C - Conflict of Interest Policy The Credit Union has a conflict of interest policy. Each year all employees and directors must disclose any conflicts to the board which is responsible to see that all conflicts are resolved. Part VI, Section B, Line 15A - Board of Approval of Officers Salary The board approves the employment contract of the CEO after review of CEOs performance and other criteria. Part VI, Section C, Line 19 - Public Access to Corporate Governance Documents The organizational governing documents, financial statements and Form 990 are available upon request to the general public. Part XI, Line 9 - Other Changes to Net Assets Net Chnage in gain/loss and transition obligation on defined benefit plan FAS 158 (317,637)